What can I expect in the way of costs?
Down Payment – Down payments run 3.5%-20% depending on your financial needs
Escrow Costs – In addition to your down payment, escrow costs typically run about 2% of the purchase price and can include:
• Pro-rations i.e. Property Tax, HOA dues
• Loan Costs i.e. points, appraisal, fees, Homeowners Insurance, impounds
• Title fees (to provide Lender clear title)
• Escrow fees (to manage the escrow process)
Inspections Costs – any inspections you want to do on the property are at your expense and are paid upfront and outside of escrow. (Typical Home Inspection +/ $500)
How long does it take to buy a house?
It depends on a number of factors, but a typical transaction will close in 30 days from the date the contract is executed.
Do I need a Real Estate Attorney?
No, California is not a state that requires a Real Estate Attorney to purchase a home.
How do I know what neighborhood is best for my needs?
Check with your Realtor!
What does my Realtor do for me?
Your Realtor will help you every step of the way!
We can help you find the right lender for you and get your finances in place so that you can start seriously looking. We will help you find exactly the right house for you, submit an offer on your behalf, negotiate the best possible price, help you with the Inspection Process ensuring you are asking the right questions to the right professionals, help you work through the Escrow Process and always make sure your best interests are first and foremost.
You’ll want to be very comfortable in your relationship with both your Realtor and your Lender, this is a complex process and you need the best people on your side.