- The first step I should take?
- Unless you plan on paying with cash, your first step will be to get pre-approved for a loan. A DU approval strengthens your offer. When you get pre-approved, you will know the price of the home you can afford.
- What is pre-qualifying versus pre-approval?
- In pre-qualification, you are given an estimate of what you may be able to borrow. This is a quick way to know what price range you should be looking in. Pre-approval means a financial institution has agreed to work with you and has taken a thorough look through your finances.
- Is it necessary use a realtor to help buy a home?
- Yes, Anthony Solomon and his team will handle everything you need from start to finish. That includes paperwork, negotiations, inspections and so much more.
- How much money do I need for a down payment?
- The answer may surprise you, it’s no longer 20%. All loan options are different, but the average down payment is now 3% to 5%. If you or the property you’re purchasing qualifies for a VA or USDA loan, you aren’t required to put any money down.
- Can I buy a home and sell my current one at the same time?
- Yes, you definitely can. We would highly recommend working with Anthony Solomon to help make the transition between selling and buying as smooth as possible. Keep in mind in today’s market selling and buying, concurrently has some contingencies concerns we need to discuss.
- How many homes should I see before making an offer?
- You should see as many as you need to ensure you find the perfect home. On average, home buyers will look at hundreds of homes online but will see 5- 10 homes in person before writing an offer. If you’re looking for a way to narrow down your search, allow us to send available listings directly to your inbox as they become available to us.
- I found a house what are my next steps?
- Anthony Solomon your real estate professional will help walk you through writing an offer on your dream home and will then handle all the negotiations
- How do I know if the property is a good deal?
- While you can never know how much a home is worth exactly, Anthony has been trained to use comparable properties to determine accurate pricing of homes. He will look at houses that have recently sold in the area that are similar to the one you are buying to ensure you are paying a fair price.
- Can I back out if I change my mind?
- You can always back out of a deal, but you may have to forfeit the earnest money deposit you put down with the offer. Earnest money is typically around 1%-2% of the home’s price.
- How quickly can I close?
- It can typically take 30- 45 days to close. If buyer paying all cash 10- 15 days if paying cash.
These answers are just the beginning. Call us (951) 202-2303 for additional information so we can begin the process.