Buying a new property isn’t a sprint; it’s a marathon. When you find the Bakersfield real estate of your dreams and place an offer that is accepted, don’t assume the marathon is over -- there are many more miles you must travel before closing.
Here are four steps to take after the agreement is signed:
1.Be prepared for your earnest money deposit or escrow deposit to be cashed. This money can be anywhere from $500 to three percent of the price of the home.
2.Go over disclosures with a fine-tooth comb. Your Real Estate agent will assist you identify any red flags. Then you want to familiarize yourself with the property history, zoning district and past building permits. Ask questions about anything you don’t comprehend.
3.Negotiate with your bank. It’s time to lock in an interest rate with your lender. You might have gotten pre-approved before, but now you actually need the loan.
4.Schedule a property inspection. Attend the inspection, and come prepared with a list of questions for your home inspector. The point of this appointment is not just to highlight major issues, but also to familiarize yourself with the short and long-term maintenance of your new Bakersfield real estate.
Don’t get derailed by unexpected costs and time-consuming tasks that come after you sign a agreement. You’ll want to be mentally and financially prepared so that you can close smoothly and move into your new Bakersfield real estate quickly.
If you’d like more information about what happens before closing, please call me at 661-717-5856 or email me at Miguel@elitereoteam.net or also visit my website at www.buybako.com
Miguel Garcia
Miramar International INC-Marketplace
CA License# 01736656
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