Monterey County Home Buyers Get An Edge On The Competition

By
Real Estate Broker/Owner with Leslie DeLuca, Broker/Owner DeLuca Real Estate BRE# 01364722

Monterey County Home Buyers Get An Edge On The Competition!


FIND HOMES FOR SALE IN MONTEREY COUNTY


The season is here....yes, if you are out there intending to buy a home this Spring or Summer, you are in good company.  

 

IF YOU ARE IN THE MARKET FOR A HOUSE IN THE NEAR FUTURE FOLLOW THIS ADVISE:

1. Best Advise anyone can give you: GET YOUR LOAN PRE-APPROVED.  This gives you an advantage on many levels.  First of all, you know what to count on with payments, down payment, taxes, insurance.  Also, it will give you an advantage when making offers.  It shows you are a serious buyer that can complete the sale.

HOW DO I GET PRE-APPROVED FOR A MORTGAGE?

2. Decide on how much down payment you need.  NAR says that first time home buyers typically make a 6% down payment. 24% of these down payments were gifts from relatives or friends.  If this is not an option, see if you qualify for a loan that only requires 3-5% as a down payment.  Do not forget closing costs, the range on this is about 2-7% of the property's purchase price.

MORTGAGE LOAN CALCULATORS

3. Be realistic about repairs, alterations, things you won't be able to change.  Look at the neighborhood, schools, how does the area fit into your lifestyle?  Before you decide on a house with awful paint, carpet, landscaping issues, look at the costs involved to make it acceptable to  you.  

4. LISTEN CAREFULLY TO YOU REALTOR OR AGENT ABOUT HOW MUCH SIMILAR HOMES HAVE SOLD FOR IN THE LAST 3-6 MONTHS.  IF THERE ARE MULTIPLE OFFERS, BRING IN YOUR "A GAME".  DON'T ASK FOR ALLOWANCES, MAKE IT A CLEAN OFFER.  


WITH A LITTLE PRE-PLANNING AND HOMEWORK, YOU CAN MAKE YOUR DREAM OF HOME OWNERSHIP A REALITY.

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Topic:
Home Buying
Location:
California Monterey County
Tags:
buy a house in monterey county
first time home buyers
how to get a mortgage
buy a home

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