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Simple steps for First Time Home Buyers in Crescent City, California

By
Real Estate Broker/Owner with (831) 626-4000 CA #01772851 HI #RB-21268

If you are a first time home buyer in Crescent City, Del Norte County, California, there are three things you should do immediately:

1. Contact a Realtor(R) of your choice. If you don't have someone in mind, ask around, I'm sure your friends can recommend someone. You can also go on the Internet, look for Realtor(S) in your area, check out their websites and blogs and make up your own mind. Call the one you choose. Don't worry, it doesn't cost you anything! The Realtor(R) gets paid by commission out of the seller's proceeds of the home you purchase.BUT I HOPE YOU WILL CALL ME, HELLA ROTHWELL. I AM A REAL ESTATE BROKER RIGHT HERE IN CRESCENT CITY.

 

2. Get pre-qualified - and your #1, the Realtor(R) can recommend some that she has worked with in the past if you don't have one in mind. Don't be afraid to interview a couple, find out what they can do for you. They will talk you through the process. All of this won't take very long, a few days at most.

3. Down payment and closing costs: Based on the type of loan, you will have to show where this money will come from if you do not already have it in the bank. Some down payments are as little as 3.5% with some of the closing costs negotiated to be paid for by the seller.###

NOW THAT YOU ARE PRE-QUALIFIED, YOU KNOW HOW MUCH YOU CAN SPEND ON YOUR HOUSE.

After all, you don't want to look at homes that are too expensive. On the other hand, you might not spend as much as you are pre-qualified for. How much you eventually spend will depend on:

1. Which home appeals to you.

2. How high a mortgage you want to carry; how much it will cost you every month, for how long a term, at what interest rate, and how much you want to put as down payment. You may qualify for a loan with very little down. YOUR LENDER WILL GO OVER THIS WITH YOU.

NOW LET'S START LOOKING FOR YOUR HOME.

1. First, we search through the Multiple Listing Service to see what is available in your pricerange by clicking on Hella Rothwell's IDX/MLS Search Here you can input the $$$ amount, minimum to maximim, that you would like to spend, the number of rooms and bathrooms on your wishlist, and other criteria. This will give you an excellent idea of what's available.

2. Next, you and your Realtor(R) will start looking at homes that you have shown an interest in. After the first few, your Realtor(R) will get a "feel" what appeals to you, just by your comments.

3. When you find one that you feel can be your new home, you and your Realtor(R) sit down and discuss an offer. This offer will take into consideration:

A. How much you are willing to pay for the home, taking into consideration the parameters of your pre-qualification. This pre-qualification letter, by the way, will become part of the offer.

B. This offer will be sent by the Realtor(R) to the listing agent to present to his seller.

C. One of 3 things will happen: (1) The seller accepts the offer, and you open escrow with the signed contract, (2) The seller counter offers in which case you can accept the sellers terms or you make a counter offer to his, continuing until such a time as both you, the buyer and the seller agree to terms; or (3) The seller does not accept the offer. At this point, you could send in another offer closer to what the seller is looking for, or you start searching for another home.

Now that you are in escrow, time is of the essence to get several things done:

A. You will work with your lender to get pre-approved for this particular home; and the lender will send out an appraiser to value the property. The value may be higher or lower than your offer. If lower, you might try to negotiate a lower sales price with the seller. Or you might need to pay the difference in cash between the sales price and the appraised value.

B. Inspections need to be done, and disclosures received from the seller. If all of these are to your satisfaction, you will head towards the closing table.

USUALLY IT TAKES ABOUT 45 TO 60 DAYS TO GET YOU INTO YOUR NEW HOME!

 HOPEFULLY YOU WILL CALL ME, AND I WILL HELP YOU PURCHASE YOUR FIRST HOME!!!

NOTE: The above scenario does not include REOs or Short Sales! Other issues come into play then.

***OFFERS ARE COMPLICATED AND CAN INCLUDE, AMONGST MANY OTHER THINGS, ASKING THE SELLER TO PAY FOR YOUR CLOSING COSTS!!!

Posted by

Hella Mitschke Rothwell, Broker/Owner/REALTOR 

 

Let me be your independent real estate broker for oceanfront and oceanview property in California and Hawaii.  If you are a seller/owner, I will travel to your property to help get it ready for sale, then list and market it. If you are a buyer and we have a Buyers Representation Agreement in place, I will preview property on your behalf anywhere in California and Hawaii.  Please call me to discuss how I can help you.

Search Hawaii Listings on www.HellaHawaii.com

Member: Honolulu Board of REALTORS; National Association of REALTORS; Hawaii Association of REALTORS; Del Norte Association of REALTORS; California Association of REALTORS; MLSListings, Inc., the premier MLS listing service in Northern California.

 

________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 808-226-1095 or 831-626-4000 

Fax 1-877-822-9332

www.HellaHawaii.com

www.HellaRothwell.com

www.RothwellRealty.com

HAWAII OFFICE: 1128 Ala Napunani Street, #1809, Honolulu, HI 96818

 CALIFORNIA OFFICE: Su Vecino Court, Lincoln & Dolores between 5th & 6th, Carmel-by-the-Sea, CA 93921

MAILING: P.O. Box 4554, Carmel-by-the-Sea, CA 93921

 
Email: HellaRothwell@gmail.com


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Disclaimer: Hella Rothwell does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Comments (9)

Lynn B. Friedman CRS Atlanta, GA 404-617-6375
Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Dear Hella,                                                   SUGGESTED

Great advice! The first-time buyer has so much to learn and so many pitfalls to avoid in 2013. THEY WILL BE FORTUNATE TO WORK WITH SOMEONE LIKE YOU.

Have a happy day -
Lynn 

Mar 03, 2013 11:30 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Lynn: Thank you so much. They do need some guidelines because the process can be very confusing because first time home buyers get so much advice. But it comes down to a few simple steps.

Mar 03, 2013 11:47 AM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Hella, great information keeping the first time home buyers informed and educated. Buyers in Crescent City would be wise to call you for help.

Mar 03, 2013 12:30 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Kwee: I hope first time home buyers pay attention to these simple steps. It will save them a lot of time and maybe heartbreak if they can't get the house they want.

Mar 03, 2013 12:39 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Great post, Hella, If the buyers would follow those first 3 steps then we can guide them through the rest of the process.

Mar 03, 2013 09:42 PM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Great information for first time buyers, Hella. I am recommending this one for a feature.

Mar 03, 2013 11:58 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Debbie: They often don't know what comes first, so this is what I suggest to save time.

Barbara-Jo: Thank you. I think this is important information for first time home buyers.

Mar 04, 2013 01:04 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Hella, Every first time home buyer needs to read this post. There is so much more to buying a home than looking for one!  This should be a featured post!

Mar 04, 2013 03:38 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Kathleen: If you don't take these steps, you might be looking for a home that is out of your price range. Since inventory is so low right now, you might then miss out on the home you CAN afford. And how do you find out what you can afford? Get pre-approval!!

Mar 04, 2013 05:22 AM