Buying a home can be an exciting and a nervous experience, especially if you’re a first-time homebuyer.Before you begin your new home search, we always recommend that you prepare yourself by educating yourself.  With the abundance of helpful tips online, it can be a bit overwhelming at time, therefore, we have put together some common questions and answers to help our clients in their purchasing process in order to make a more informed and faster decision.

What resources are available from your company?

We offer a variety of tools and special reports for buyers looking in and around the San Gabriel Valley.  You can visit our specific page here http://www.pasadenaregionhomeinfo.com/buyers.asp and request to get access.

I’ve never purchased a home before.  Where should I begin?

If you are reading this, then we are sure you’ve already started the home buying process. Reading articles and tip sheets is a great way to become a smarter buyer. The highest priorities to focus on before you begin searching for homes would be to:

  1. Update your personal finances and meet with a local loan officer to learn what you can qualify for (if you are purchasing with a loan);
  2. Carefully review your budget and begin to eliminate as much debt as possible;
  3. Have a down payment and earnest money ready when the time comes to act and make your offer; and
  4. Have an idea of the location you like, the minimum number of bedrooms and bathrooms you need, and any other amenities that are a must for your new home.

Once you are pre-qualified for a loan, you will have the best understanding of what you are able to purchase.

How do I decide which type of loan to select?

Selecting an experience and trustworthy loan officer who is responsible and gets deals done is important for the success of your purchase.  Ask lots of questions and never sign any document until you know what you are signing. More and more lending professionals are recommending fixed interest rate loans and interest rates are still very attractive. Of course, the type of loan best for you depends on several factors. Here are just a few:

  1. How much money do you have for a down payment?
  2. How long do you plan to live in the home?
  3. Do you qualify for a FHA or VA loan?

Why should I work with a real estate agent?

Buying a home will most likely be the largest purchase you will make and you deserve to have independent unbiased representation throughout the transaction.  A good agent will negotiate hard to help you achieve the best terms and will be responsible in managing the entire transaction from start to finish.

Who pays my real estate agent’s commission?

It is standard practice to have the Seller pay the buyer’s agent a commission.  That means you have full representation at no out-of-pocket expense to you and it does not inflate the cost of the home!  Research has shown that consumers who work with a buyer’s agent receive a better value than those who do not.

Is there a difference between an agent and a REALTOR?

Yes, a REALTOR is a real estate agent who holds membership in the national, state, and local real estate boards.  A REALTOR is held to a higher standard of ethics and a strict code of conduct.

How can I learn more about the home buying process?

You can contact our office to schedule a time to meet and discuss the process at 626.228.2777 or via email at info@mcintireRE.com.