Buying a home is one of the most significant investments you’ll make, and we’re here to guide you through the process step by step. Here’s an overview of what you can expect when purchasing a home.
1. Meet with Your Agent
- Meet with your dedicated Pacific West Real Estate Co. agent.
- Discuss your goals, budget, preferred neighborhoods, and must-have features.
- Sign the Buyer Broker Agreement, which is required in California.
- Ensure mutual commitment and a clear understanding of expectations.
2. Understand Commissions
- Learn about recent changes to real estate commission structures following the NAR lawsuit settlement.
- Understand that buyers and sellers may now negotiate commission structures more openly.
- Your agent will explain these updates and how they impact your transaction.
3. Get Pre-Approved by a Lender
- Obtain pre-approval from a lender to determine your budget.
- Strengthen your position as a serious buyer in a competitive market.
- Ask your agent for recommendations on trusted lenders.
4. Start Looking for a Home
- Begin house hunting with your pre-approval in hand.
- Your agent will curate a list of properties that match your criteria.
- Arrange property showings and keep an open mind.
- Be prepared to move quickly in today’s competitive market.
5. Navigating a Competitive Market
- Understand that California’s real estate market can be highly competitive.
- Rely on your agent for insights into current market conditions.
- Be flexible and decisive to improve your chances of success.
6. Write a Strong Offer
- Work with your agent to craft a strong and competitive offer.
- Determine the right price and negotiate terms.
- Consider including contingencies such as inspections or financing.
- Present an offer that stands out while protecting your interests.
7. Open Escrow
- Enter the escrow phase once your offer is accepted.
- A neutral third party (the escrow company) will manage funds and documents.
- Complete tasks such as deposit delivery and document review with guidance from your agent.
8. Close the Deal
- Closing typically takes 30-45 days, depending on the contract terms.
- Complete tasks such as home inspections, final loan approval, and a final walkthrough.
- Sign the final documents, transfer funds, and receive the keys to your new home.
At Pacific West Real Estate Co., we’re committed to making your home-buying experience smooth and successful. Contact us today to start your journey toward homeownership in California!
