Home Buyers     

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Selecting an Agent

Your Real Estate Agent Should Be:

  • A full time, hard-working professional
  • Fully aware of the market conditions and available financing
  • Backed by professional marketing management
  • Associated with a reputable Real Estate firm
  • Aware of the recent State and local requirements affecting property
  • Willing to cooperate with all Brokers
  • Committed to the highest of ethical standards
  • Associated with a strong team of lenders, inspection companies, title companies and other Real Estate services professionals.

 

The Buying Process

How the Realtor Will Assist You:

1.) Initial Interview

  •   Determine your needs, wants, and desires in a home.

  •   Discuss parameters.

  •   Discuss financial qualifications. 

2.) Get Pre-Qualified by a Lender

  •   Loan pre-qualification approval letter is obtained from lender 

3.) Property Tours

  •   Show you available homes that suit your needs and emotions

  •   Listen to you carefully to fine tune your ideal home

  •   Educate you about the current market 

4.) Target a Home That is Ideal and Write the Offer

  •   We write the offer on your ideal home

  •   This procedure will take 1-3 hours

  •   Deliver your earnest money deposit made payable to your Title Company of choice. (The check will be held until you have an accepted offer by the seller) 

5.) The Offer is Presented to the Seller

  •   I will prepare my presentation by highlighting the strengths of your offer and your strengths as a   buyer in my introduction letter to the seller.

  •   I will present your offer to the Listing Agent who will present it to their sellers.

  •   The sellers will accept the offer, counter your offer or reject it. 

6.) Counter Offer

  •   The counter offer is discussed and prepared. (If applicable) 

7.) Escrow

  •   Once the offer is accepted, escrow is opened with your Title Company of choice.

  •   Your earnest money deposit is deposited at this time.

  •   Escrow orders a Preliminary Title Report and sends copies to your agent and lender.

  •   Escrow instructions issued to all parties along with opening package. 

8.) Loan Application

  •   A completed loan application is submitted to the lender of your choice with all of the necessary documentation.

 9.) Contingency Period

  •   Buyer receives and approves the Seller's Real Estate Transfer Disclosure Statement (if your not buying an REO from a bank) along with many other disclosures.

  •   Buyer approves Preliminary Title Report

  •   Physical inspections/pest inspections/roof inspections, etc. are completed.

  •   Property appraisal and loan approval are in progress. 

10.) Homeowners Insurance Coverage

  •   Buyers obtain a Homeowners Insurance Policy for their new home and the insurance information is given to escrow.

  •   Escrow orders a copy of the homeowners insurance policy for the new lender prior to escrow closing.

11.) Signing Documents at the Title Company

  •   Buyers need to bring current photo identification to sign notarized loan documents at the Title Company.

  •   Copies of title and lender documents are given to the buyers. 

12.) Down Payment and Closing Costs

  •   The escrow officer provides you with a Buyer's Estimated Closing Statement which itemizes your costs and advises you of total monies due.

  •   Buyer brings a cashier's check to the Title Company several days prior to closing (if more funds are required from the buyer to close escrow. 

13.) Funding

  •   The lender sends funds to the Title Company

 14.) Close of Escrow

  •   The deed is recorded at the County Recorder's office by the Title Company. (You will receive the original back from the County Recorder in approximately 6 weeks.)

  •   Keys are transferred from seller to buyer. 

15.) MOVE IN!!!!!

Closing Costs

  • Inspection fees such as pest, roof, whole house, HVAC, chimney, sewer & septic (for country property) just to name a few

  • Repairs to home if necessary to close and they have not been worked into the contract for the seller to pay

  • Title & escrow fees (full in Solano County, 1/2 of each in Sacramento County)

  • Lender fees such as points, admin/processing fees etc.  All lenders have different fees.  Make sure you are aware of ALL the fees your lender will charge you.  Ask for a net sheet or Good Faith estimate!

  • Appraisal fee (Approx. $400-$500)

  • Pre-paid property taxes and home owners insurance

 

Tax Calendar

Important Dates       

 

January

Jan 1st - Assessment Date

2nd Installment

February

Feb 1st - 2nd Installment Due

 

March

Mar 1st - Taxes on Unsecured Roll Due

January 1-June 30

April

April 10 - 2nd Installment Delinquent 

April 15th - Last day to file Homeowners, Veterans & Senior Citizen Exemptions 

 

May

 

 

June

June 8th - Publication date for delinquent taxes

 

July

Jul 1st - Beginning of Fiscal Year to July 1st of following year 

Jul 1st - Properties w/delinquent taxes sold to State 

Jul 1st - Owners to be informed of new taxes 

Jul first Monday - Assessment Appeal Board 

Jul 30th - Last day to advise owners of new values

 

August

Aug (late) - Sale numbers assigned for delinquent taxes

1st Installment

September

Sept (mid) - Tax rates set

 

October

Oct (last week) - Tax rates set

July 1-December 31

November

Nov 1st - First installment due

 

December

Dec 1st - First installment delinquent