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Contemplating buying your new home in Rowland Heights?

Purchasing a home is stressful for many people, but with a little up-front planning, it's not very confusing. So you know exactly what to expect, I like to provide my buyers with an outline of the entire deal. Below are my nine steps to buying a home.

When you're ready to get started, you can contact me here or send e-mail to realtor@jamesjchou.com. I'm glad to address questions you have regarding this information.


Step 1 – Get ready to purchase
There are plenty of things you'll want to do before beginning your home search. When you start your search, you'll want to make an index of features you want to have, get an idea of what neighborhoods and school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good guideline to go by.

Step 2 – Communicate with a real estate agent
This is where James J. Chou, Re/Max 2000 Realty can help. We'll schedule a time to meet so we can talk about your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the Rowland Heights area, the mortgage and housing industries, and any other economic factors that might affect your purchase today or in the future.

I'll also help you start the loan process. There are some excellent mortgage professionals in Rowland Heights, and I work with a lot of them, so you can rest assured that you're in great hands. They can help you choose which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin your search
After we meet, I'll start searching for homes on the market that are a good fit for you. I'll preview many of the homes and throw out the bad ones, and then we'll book appointments to tour the houses whenever it's most convenient for you.

As we view houses, I'll identify good features, as well as bad ones. I'll even ask you to tell us about things you like and don't like. It's pretty common for buyers to change their list of must-haves as we view houses and some features become far more essential than others. If such is the case, I'll look through the listings once more and trim it down to the home you've been dreaming about.

Step 4 – Know the market
My knowledge of the Rowland Heights housing market is a crucial resource in your search. I am mindful of all the neighborhoods and schools, and I can let you know some neighborhoods are "hot" and call for immediate action and some that are "cool" and allow for careful analysis.

As we view houses, I'll let you know when the asking price has room for negotiation and when I believe the house is "priced to sell." When working with an agent, be on guard and make sure you ask lots of questions, as any REALTOR® in Rowland Heights will tell you they know the housing market. If it appears they don't know everything, just call me at (626)964-8999 or e-mail me at realtor@jamesjchou.com, and I'll be glad to answer any questions you have. My market knowledge will keep you a step ahead through the entire process.

Step 5 – Find the home you've been waiting for
I'm sure we'll find your dream house in Rowland Heights. When we do, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind, including some contingencies, such as getting financing, carrying out the home inspection, and a clean title.

Let James J. Chou, Re/Max 2000 Realty guide you through finding your dream home in Rowland Heights When we submit your offer, you'll probably want to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's really common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.

How aggressively we negotiate the deal depends on market circumstances. We'll also work within your budget. And at the end of the day, we'll put together a contract that's best for you.

Step 7 – Obtain a loan
Upon finalizing the contract, you'll start working with your lender to close the loan. If you're already pre-qualified, this won't take very long at all. But you'll want to keep in close contact with your lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will supply you with a Good Faith Estimate (GFE) of closing costs within three days of receiving your application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of receiving your loan application. This estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a close range of accuracy, and I'll analyze the estimate and let you know if everything looks okay.

Then we'll close on your home. This will most likely occur at a title company or escrow office and is often a smooth and peaceful event.

Step 9 – Move in
Success! Now you can move into your new house. Enjoy it. And if you need anything, just call me at (626)964-8999 or send me an e-mail.