Why work with me?
I will navigate and educate you through the home buying process.
Help with negotiating deals.
Use every resource to get you access to the most current listings.
Inform you on all the facts of the properties you’re interested in.
I will help you finance your home faster.
Make sure you get an investment that can pay off down the road.
I will be your advocate in real estate.
Home Buying Process
1. SELECT A REALTOR/ESTABLISH A RELATIONSHIP.
I am a full time, professional REALTOR with extensive market knowledge. We will work together to find the right home for you.
2. INITIAL CONSULTATION WITH YOUR REALTOR TO EVALUATE YOUR NEEDS AND RESOURCES.
We will meet to discuss your needs and analyze your resources. Once we establish your needs, I will provide guidance to financial institutions where you can obtain information in order to get the best financing available.
3. FIND THE RIGHT HOME FOR YOU.
I will show you homes based upon the criteria that we have established together. The more precise and direct you are with me, the more successful our search will be.
4. DETERMINE THE SELLER’S MOTIVATION.
Once we have found the home that you wish to purchase, I will do the necessary research to help structure a successful offer.
5. WRITE THE PURCHASE OFFER.
I will draft the “purchase Agreement” for you, advising you on protective contingencies, customary practices, and local regulations. At this time you will need to provide an “earnest money” deposit, usually 3% of the purchase price. The deposit check is not cashed until your offer has been accepted by the seller.
6. PRESENT THE OFFER.
I will present your offer to the seller and the seller’s agent. The sellers have three options; they can accept your offer, counter your offer, or reject your offer. My knowledge of your needs and qualifications will enable me to represent you in the best way possible.
7. SELLER RESPONDS.
I will review the seller’s response with you. My negotiating skills and knowledge will benefit you in reaching a final agreement.
8. OPEN ESCROW.
When the purchase agreement is accepted and signed by all parties, I will open escrow for you. At this time your earnest money will be deposited. The escrow company will receive, hold and disburse all funds associated with your transaction.
ESCROW : A procedure in which a third party acts as a stakeholder for both the buyer and the seller, carrying out both parties’ instructions and assuming responsibility for handling all the paperwork and distribution of funds
9. THE CONTINGENCY PERIOD.
This is the time allowed per your purchase agreement to obtain financing, perform inspections, and satisfy any other contingencies to which your purchase is subject.
TYPICAL CONTINGENCIES INCLUDE:
• Approval of the seller’s transfer disclosure statement.
• Approval of the preliminary report from the title company.
• Loan approval, including an appraisal of the property.
• Physical inspections of the property.
• Pest inspection and certification.
10. OBTAIN HOMEOWNER’S INSURANCE
I will work with your insurance agent and escrow office to make sure your policy is in effect at the close of escrow.
11. MAKE DOWN PAYMENT
You will need a cashier’s check or money transfer for the down payment several days prior to the closing date of escrow.
12. CLOSE ESCROW!
When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs into escrow and your lender will deposit the balance of the purchase price. The deed will then be recorded at the County Recorder’s office and you will take ownership of your new home!
START A GREEN FILE
A Green File should contain all of your important financial documents. Regardless of the loan type, lenders will need information about you. Make copies of financial statements; bank accounts, investments, credit cards, auto loans, recent pay stubs and two years’ tax returns.
CHECK YOUR CREDIT RATING
Credit scores range between 400 and 800. 620 + is considered "good". 680 + is considered "premium" and may possibly help get you a lower interest rate.
Below you will find the contact information for the 3 major credit reporting agencies to help you determine your credit rating. Ask your lender how to improve your credit score if you need to. Going forward, treat your credit like gold.
- Equifax: http://www.equifax.com (800) 685-1111
- Experian http://www.experian.com (800) 392-1122
- Trans Union http://www.transunion.com (800) 888-4213
SAVINGS & DEBT
If you are buying real estate, try to accumulate funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Furthermore, try to pay down existing revolving and high interest rate debt like credit cards.
TOE THE LINE
Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes! If you are tempted to buy a big ticket item, consider the following:
|A $500 a month debt payment (like a credit card or auto loan) could lower the amount of home you can afford by about $83,000! *|
* Based on a 30 year mortgage at 6% interest.
Irina was a pleasure to work with, right from the start. She is very friendly and professional, always answering back promptly and showing up on time. The whole buying process couldn't have gone any smoother, to say the least. Not once did I feel lost or frustrated, thanks to her incredible service and willingness to go above and beyond. I bought a house and have now turned it into a lovely home. I will definitely be using her services for all future selling or buying and would highly recommend her to anyone looking to buy.
Before working with Irina, I was completely oblivious to the home buying process. Irina made it so much easier by guiding me through and ensuring that I took the necessary steps to have good credit, what to do to get approved for a higher loan amount, as well as giving me recommendations for the best communities to fit my needs. Needless to say, we closed on the perfect house and beat out 9 other offers, thanks to her incredible negotiation skills. Never imagined I'd be a homeowner at 21 years old.