Buying Your Home
The home buying process can seem complicated, but if you find a professional REALTOR® and take things step-by-step, you will soon be holding the
keys to your own home! A REALTOR® will help you understand everything you need to know about the buying process. Real estate transactions
involve one of the biggest financial investments most people experience in their lifetime. Transactions today can easily exceed $400,000. If you had a
$400,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $400,000 legal question, would you deal with
it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate
without the professional assistance of a REALTOR®!
Getting Started: The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves
plus your borrowing capacity. If you give a Realtor some basic information about your available savings, income and current debt, he or she can refer
you to lenders well qualified to start helping you get the financing lined up.
Looking: Once you know how much you can and want to invest, the next step is to find the properties that most closely fit your needs. This is the time
to choose a real estate licensee. When picking a real estate agent look for one who is also a REALTOR®. A REALTOR® is a member of the NATIONAL
ASSOCIATION OF REALTORS®, a real estate trade association, and all members agree to abide by a Code of Ethics. A REALTOR® has many resources to
assist you in your search. Sometimes the property you are seeking is available but not actively advertised in the market. It will take some investigation
by your agent to find all available properties.
Choosing a Property: Your most important job is to make the final selection of the right property for you. This is when excitement and emotion run
high. Your Realtor can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have
access to a variety of information resources. REALTORS® can provide local community information on utilities, zoning, schools and other information.
Be sure to have open, candid discussions with your agent on all your wants and needs to be sure the property is right for you.
Negotiating: There are myriad negotiating factors, including but not limited to price, financing, terms of sale, date of possession and often the
inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete
appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which
investigations and inspections are recommended or required.
Due Diligence: With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this
could include inspections for pest, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your agent can
assist you in finding qualified, responsible professionals to do most of these investigations and provide you with written reports. You will also want to
see a preliminary report on the title of the property. Title indicates ownership of property. The title to most properties will have some limitations; for
example, easements (access rights) for utilities. Your agent, title company or attorney can help you resolve issues that might cause problems at a later
Financing: As soon as you are reasonably sure the property is right for you, the process of tying up the financing begins. Your agent can help you in
understanding different financing options and in identifying qualified lenders.
Closing or Settlement: Finally, there is the closing, or settlement, as it is known in different parts of the country. Every area has its own unique
customs. In Tehama County the Closing transactions are handled by a Title & Escrow Company. Again, your Realtor can guide you through this process
and make sure everything flows together smoothly.
956 Walnut St, Red Bluff, CA 96080