Yuba City Buyer Guide
It is important to know how much you can spend comfortably and be able to back that up with verification from a bank or lender. There are various types of options to help finance a home such as Federal Housing Authority (FHA)-backed mortgages. A lender should also help a buyer discover the amount of payment the buyer would be able to put down on a house as the down payment.
Aside from knowing the specifics of what you are looking for (bedrooms, bathrooms, square feet, etc.), you should create a list of the neighborhoods you would most like to live in. Think about your potential commute to work, where your friends live, and neighborhood amenities like restaurants, schools, transportation, and grocery stores. I will help select the best homes in your price range to look at. Once you find a place you want and put in an offer, I will work my hardest to negotiate that offer and get you as much as possible
Make An Offer
Once we find the best home for you to move in to we will decide how much money you want to offer for the house. In the offer we will also get a chance to ask for any conditions that are necessary. Once we have finalized the offer on our behalf I will present the offer to the seller's agent. At this point the seller will be able to accept, reject, or make a counteroffer to your offer. You can either accept this counteroffer or continue to go back and forth until a deal is reached or either party has decided not to continue the process.
Also consider the closing costs, community costs, any immediate repairs, and any appliances you may need before you can move in. After reaching an agreement the buyer will need to make a good-faith deposit and the process will transition into escrow.
Escrow is a short period of time during which the seller takes the house off the market with the expectation that the buyer will buy the house- provided that there aren't any serious problems with the house when an inspection is done. If during this period there is a problem with the home that the seller did not disclose you will generally be able to take back your offer and get your deposit back. You can also negotiate to request the seller to make the repairs or write an addendum to the purchase agreement.
Closing & Moving In
If you are able to work out a deal with the seller or if the inspection didn't reveal any significant problems you should be ready to close on the home. Closing involves signing paperwork in a short period of time. In the final stages of your home purchase you will be dealing with having the home appraised, doing a title search, obtaining private mortgage insurance if the down payment is less than 20%, and complete the mortgage paperwork. Other closing costs normally include loan origniation fees, title insurance, surveys, taxes, and credit-report charges.