I've lived in Fallbrook many years and have worked for Remax in Fallbrook almost 13 years.
Feel free to email or call me to discuss your needs and I'll be happy to explain the buying process in detail. If you're needing to get a loan, I can give you the names and contact info for a very good lender who has helped many of my past and current customers. When we talk we can then set an appt to get together and go look at some homes. I look forward to speaking with you soon!
Here's what I would suggest you do:
1) Find a RealtorÂ® to work with to protect you interests. You can check to make sure an Agent is a RealtorÂ® by going here: http://www.realtor.org/rofindrealtor.nsf/pages/FS_FREALTOR?O
Your RealtorÂ® will be able to answer initial key questions and guide you through the process.
2) Obtain a "True Pre-Approval" (your most important step in my opinion).
Note that you may need to improve your credit score, increase cash reserves, etc. before buying; however, at least you will have a roadmap to eventually purchasing if this is the case.
3) Make sure you have access to your local RealtorÂ® MLS data via an automated search.
MLS Data Accuracy â€“ Where to search if youâ€™re â€œwithout RealtorÂ®â€
4) Avoid dual-agency!
Best Regards, -Steve
As a HUD certified First Time Home Buyer, I have helped many, many borrowers realize their goal of homeownership. I strongly believe that knowledge is king and the more understanding you have of the process, guidelines and procedures the more smoothly the transaction will proceed.
As far as first steps, it is almost a "Chicken and Egg" answer. I strongly believe knowing exactly where you stand on credit and qualification is the most important first step. However, working with a fantastic agent is equally crucial. I work very closely with several agents and we refer back and forth on a continual basis. In other words, if you call me first I am likely to refer a agent I have the utmost respect for and, conversely, if you call one the agents I work with, it is very likely you will be given my contact information.
There are agents/mortgage professionals who strongly believe is the "three business card" rule to avoid any resemblance that they are trying to steer financing in one direction or another. I am far more likely to give a maximum of two referrals...and this is why: There are far different skills needed by a FTHB versus a investment buyer. I know some absolutely great agents who do not have the patience and knowledge of financing process to fully partner with lending for a FTHB.
I do not need an agent to know specific guidelines, etc. of financing; however, experience builds a working knowledge of the entire real estate and lending process and that experience helps FTHB understand the process from both a real estate and financing perspective. The real key is, as a FTHB, you need a TEAM working for your benefit, to help you accomplish your goals.
If you are a First Time Home Buyer who wants knowledge, expertise and commitment to YOUR goals, let me put you in touch with a real estate professional who has your best interests in primary focus. Conversely, if you are an agent looking for a TEAM approach with your lender referrals I would love to meet you!
All my best,
I would disregard #2 of Trevor's response below as in CA we very rarely use Attorneys for purchase representation/sales. Furthermore, in CA, sharing you have an attorney "waiting in the wings" may send the wrong message to the Seller.
Here's my "Primer" for First Time Buyers based on my 23 years experience as a mortgage professional.
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
Find a Realtor in your area from the Trulia site, get connected and they will help you with everything you need.
The first step after you find a Realtor is to get a lender, then submit you income information - usually 2 years tax records, 2 years, W2's, 2 months pay stubs, 2 months bank statements, asset information, drivers licenses and a credit report.
Pull you free credit report on line and review it for any errors and delinquencies. Work on getting that report corrected.
Once you get a pre-approval from a lender, you will know what you can afford, then contact your Realtor and she will set-up a search and be able to notify you with any properties that match your criteria and you will be able to preview the homes.
I have worked exclusively with buyers only for over 26 years and I am confident that together we will find you your first home...please contact me at your earliest convenience so we can discuss all your options...I look forward to hearing back from you soon....fondly,linda rose
exit stepping stone realty
760 274 3714
DRE # 01250853
The very first step is to speak with a reputable lender - I can offer some good names - if you like. It makes little sense to go out home shopping without knowing 1) if you can get a mortgage and 2) how much you have to spend.
You want to be pre-approved by a lender. That means, you have completed an application, had the lender pull your credit, review your assets, liabilities, and income. When you have a pre-approval letter in hand, you are ready to go shopping....
Ready when you are!! :)
for a smoother transaction and a happier ending.
I am in the Fallbrook/Temecula area and have satisfied clients that have enjoyed the journey
of purchasing a home thru my efforts.
Should you have any questions or would like to discuss your Real Estate needs further, please give me a call. I would enjoy speaking with you.
Sunshine Properties Real Estate
330 North Main Ave.
Fallbrook, CA 92028
Office: (760) 728-8855
Fax: (760) 451-0183
Mobile: (925) 550-0900
DRE License #01502850
First you need to determine why you want to buy a home at this time. Are you going to be in the area for several years? This market is a great opportunity for people who want to buy and plan to stay in the home for 5 or more years. Interest rates are the lowest that I have seen in the last 40 years and prices are at or close to the bottom of the cycle.
Secondly you need to get preapproved by a reputable lender. This is critical. You need to find out which loan program would work best for you and what price range you should be in.
Third you need to talk to an experience Realtor, like me, who will help you understand the home buying process. You do not need a hard sell Realtor who does not have your best interests in mind. Years ago I worked for the San Diego Housing Commission and developed some programs for first time home-buyers.
If you contact me I can put you in touch with a great lender who will help you determine the best program for you. Once that is done you and I can look at some homes and find one that works for you.
If you have questions please contact me and we can discuss your options in detail.
Local Help with Your Real Estate Needs
The San Diego Property Shop
CA DRE # 00648687
You can get free and very helpful information from HUD (Housing & Urban Development) here...
and a superb Buyers Guide& Borrowers Guide for free from my company, Chicago Title here...
and a short video on questions to ask your Realtor...
Good Luck and let me know if I can help in any other way.
Your second step is to look at properties online.
Your third step is to see properties with a broker.
I wish you the best in getting your home.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
We are Hosting a home Buying Event FREE to attend for home buyers.
Saturday Sept. 15th 10:00AM at our Mission Valley Mortgage Center
2375 Northside Drive Suite # 125, San Diego, CA 92108 raffle and refreshments.
to RSVP call 1866-347-6143
This would be a great 1st step to start
I always advise my clients that their first step is to contact a mortgage broker/lender, so that they can get a handle on how much they qualify for and what they feel comfortable paying in a monthly mortgage. Once they get their pre-approval, then we work together to find them the perfect home. I can refer you to a really great loan officer to get the ball rolling, just message me directly and I will send you her info.
McAllister Homes Real Estate