Contemplating buying your home in Lompoc?

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Step 1 – Get ready to purchase a home
There are plenty of things you need to contemplate prior to commencing your home search. You'll want to form a list of items you need to have, get a feeling for what neighborhoods you want to live in, and start planning your budget. Ensuring your mortgage payment is no more than 1/3 of your monthly income is a good rule of thumb to go by.

Step 2 – Get with a real estate agent in Lompoc
This is where I can help. I'd be happy to arrange a time to get together with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Lompoc area, the mortgage industry, to any other economic factors that may affect your purchase today or in the future.

I can also help you facilitate the loan process. There are some excellent mortgage professionals in Lompoc, and I work with a lot of them, so you can rest assured that you're in great hands. They can help you determine which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start looking
After our initial meeting, I'll start finding available houses on the market that suit your needs. I'll get a sneak peek of most of the houses and eliminate the duds, and then we'll set up appointments to view the homes when it's most convenient for you.

As we tour the houses, I'll show you the positive features, as well as bad ones. I'll also ask you what things you like and don't like. It's widely common for buyers to update their list of must-haves as we tour homes and some items become more essential than others. If that happens, I'll look through all the listings another time and trim it down to the home you've been dreaming about.

Step 4 – Get a grasp of the market
Your agent's knowledge of the Lompoc market is a crucial aspect in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I can let you know certain districts are "hot" and call for immediate action and others that are "cold" and allow for more analysis.

When we view houses, I'll make sure to communicate when the list price has room for negotiation and also when I trust the home is "priced to sell." When working with an agent, trust your instincts and be sure to ask lots of questions. Every REALTOR^® in Lompoc will tell you they comprehend the home market. If things don't add up, just call me at (805)733-0444 or e-mail me at DJabot@LompocC21.com, and I'd be glad to answer any questions you have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.

Step 5 – Find the home of your dreams
I'm positive we'll find your dream house in Lompoc. When we do, I'll thoroughly create your home purchase offer. The offer will be tailored keeping your needs in mind, including a lot of contingencies. A few examples are obtaining financing, finishing the home inspection, and a clean title.

When we turn in your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property and is typically put towards the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals aren't closed on the beginning offer. It's extremely common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. We'll also work within your financing limits. And at the end of the day, we'll put together a deal that's best for you.

Step 7 – Get a loan
Once we sign the final contract, you'll begin working with your mortgage lender to close the loan. If you're pre-qualified, it won't take much time at all. However, you should to stay in close contact with your mortgage lender. And I'll sort out all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your lender will give you a Good Faith Estimate (GFE) detailing your closing costs within three days of getting your loan application. You'll get a Good Faith Estimate (GFE) of closing costs from your lender within three days of taking your loan application. This estimate is formed from the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy. I'll study the estimate and let you know if everything looks good.

Then we'll close on your house. This will most likely take place at a title company or escrow office and will most likely be a smooth and relaxing occasion.

Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at (805)733-0444 or send me an e-mail.