Ninety percent of my clients are first time homebuyers. If you are one, you probably are drowning in a sea of information, with all that googling you have done about homebuying. It is good that you are doing your own research since the internet is overflowing with real estate materials anyway. But the practice of real estate is not the same in paper as it is in an actual real estate transaction. Local market conditions differ, and you need an experienced Realtor who could answer questions such as, “ is this the right offer price for this property?”, or, what are the costs related to purchasing this?”
A purchase agreement is a serious contract that you do not only sign, but have to follow and understand carefully. Contingency issues such as appraisal, loan approval, and home inspection issues need to be addressed within a set timeframe, failure to do so could mean the loss of your good faith deposit.
You need a mortgage counselor even prior to the first round of property searching. I am also a licensed loan officer who could assist you with the prequalification process.
Useful Sites:
Ask Yourself: Rent or Buy?
Rent or Buy?: from California Association of Realtors (CAR)
Useful Websites to Visit for Homebuyers
