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Buyer’s Guide

Buying a house in California is an exciting experience that leads to rewarding results. But you also have to be ready for a few challenges along the way. Learning and understanding the home buying process is the best way to prepare, and this is where the Loney & Worley Team comes in.

We’ve outlined the most important steps below to guide you toward your real estate goals:

  1. Plan your finances

    Begin your preparations by finding out how much you can spend on your home purchase. This will make your property search more efficient, enabling you to zero in on realistic targets within your price range.

    Decide how you will pay for your purchase, as well.

    Paying the full amount for a home in cash is common in the luxury market. Cash transactions are faster and more convenient because they involve less paperwork. You are also paying less because you won’t accrue any interest. Cash offers also help you get more attention from sellers in a competitive market.

    Even if you can afford to pay cash, a loan is still a sensible option for a high-end real estate purchase. Luxury homebuyers can get a jumbo loan, which is any mortgage that exceeds $726,525 (in Napa and Contra Costa Counties) or $494,500 (Solano County).

    Financing a home buy with a loan has its own advantages. Mortgage payments are tax-deductible, for one.

    More importantly, using a loan means you are not tying up your money to a single real estate asset. You can set aside cash for additional upgrades or future repairs for the home, or you can use it for short-term investments that promise greater returns sooner.

  2. Choose a local real estate agent to work with

    Working with an experienced and reputable local real estate professional will significantly improve your home buying experience. Real estate agents do more than just help you find the right house. They provide you with relevant and up-to-date information about your location’s housing market, assist you in crafting a strong and compelling offer, and represent your best interests during the crucial negotiation stage.

    When searching for the right agent to work with, ask about their experience in the luxury market, as well as the specific type of property that you want to buy. Whether you’re looking for a sprawling estate home, a waterfront property, or a vacant parcel of land that is ripe for development, working with a specialist will make your home buying journey easier from start to finish.

    Consider the agent’s professional network, too. A well-connected Realtor can share access to exclusive, off-market listings from high-profile sellers.

  3. Shop for the right home and neighborhood

    Before you start hunting for your house, make a list of the essential, non-negotiable amenities that the property should have. Distinguish these from the features that you can consider as optional or something you can add later.

    Learn more about your potential neighborhood, including the schools, stores, restaurants, and medical and emergency services in the area. Drive around and try to chat with residents to get a better feel of the community.

  4. Craft a strong purchase offer

    Work with your Realtor to come up with a strong and compelling proposal. Your offer must include a reasonable price based on comparable properties in the area, as well as detailed contingencies that will facilitate the closing of the deal.

    Be ready for a counter-offer from the seller. At this point, prepare to have your agent represent you at the negotiation table. The seller may also decline your offer outright, at which point you can try with a more attractive offer or move on to your next top option.

  5. Get a home inspection and appraisal

    The inspection and appraisal are important parts of the home buying process that can make or break the sale.

    The inspection determines whether the home is in good, livable condition. The results can give you additional leverage to negotiate for a lower price, or if the repair needs are too significant or time-consuming, give you justifiable reason to terminate your purchase agreement.

    Most lenders require an appraisal to verify the property’s current market value, prior to approving a loan application.

  6. Make a final walk-through

    As the last step to take before closing the deal, this is your final chance to survey the home and check whether the seller has met all agreed-upon repairs and other contingencies. Make sure that all of the necessary utilities and all of the discussed inclusions are in place before you move in.

Find the perfect property for sale in Northern California

Are you ready to buy a home in the counties of Solano, Napa, or Contra Costa? Let the top-producing Loney & Worley Team guide you on your journey. Call us today at 707.344.1300 or AWorleyRealty(at)gmail(dotted)com .