The Santa Clarita real estate market is one where home buyers have had to up their game when it comes to just preparing to buy a home. This "upping of their game" pertains to what a buyer has to do before looking at home number 1.
Once the "home of choice" has been identified to do the validation and to get approved for a home loan it's too late.
That is because all of your competition will have already done their homework. They will have already been approved for a home loan, identified a particular neighborhood where they want to be and have done research on the local schools if they fit their lifestyle.
Getting a real lender approval is going to require you to get several documents together. Some of which, even if you had copies, would need to have "originals" from the source with the accompanying official request form.
First step for a Santa Clarita home, condo or town-home buyer in the Santa Clarita real estate market in March of 2021, contact the agent you are considering hiring. If you don't have one, they contact me. If you have one, you may also want to get a second opinion, call me and I'll sit dow with you and yours to get a game plan together. If you still want to work with me - great!
During the meeting, there should be several prepatory steps that you as a buyer need to complete. Some of which will involve a lender and questions that you should be asking before giving up your social security number and date of birth.
Lenders are getting paid because you are going to them and want to get a home loan. You pay them.
It's nice before interviewing a real estate lender, even one who you have seen advertising on television or radio, knowing their "how" and how you can best apply to get the top deal.
Also, it's nice to clear up the "teaser rate" issue that has been rearing it's ugly head lately. It seems they will say and do anything to get someone to call, I clear these items up in my buyer's meeting.
In preparation, the lender is going to have some items they will need. Then they will need more items and finally you will see the lender requesting some of the items again.
Don't allow yourself to become upset. The "new" request, which is about documents you had already produced, will address and require a new date of production.
In my offices at the conclusion of our buyer's prep course you will leave with the confidence knowing that we covered the lender, gave you their tricks and games played, next you have some homework to complete.
The home work, which some I have done for you, but request you verify any and all information that I pass along to you, will pertain to those things you hold most dear.
If you are a person that had kids or who is going to have them, and public schools are important, we need to ensure you are in the school district you choose.
I only say this because the dividing line between particular schools in the Santa Clarita Valley is only a street in width.
You could be buying a home in the same zip code as Stevenson Ranch. However, that home could be stated to be in the city of Newhall. But with the same zip code. With only a street separating the two, you may buy a home without realizing the school is going to be completely different than you expected.
Hence the importance of the call to the school district to obtain a boundary map. Or click here - Santa Clarita school boundary map!
Even after reviewing the map, even if you feel totally good to go as to the exact placement of your child within the Santa Clarita School system, make a call anyway.
You are going to have to call the school. This is a You thing and not a me thing. The reason is what if I get the person on the phone who does not care and will just say whatever they think I want to hear. It's not likely to happen, but what if?
Then when you move in and when your child is going to go to a different school, you will call me and ask what gives?
I don't like those phone calls. So when it comes to getting very important information, which everything is right? I want my clients to call themselves, personally, get the name and email address of the representative they spoke with and to follow up their conversation with an email requesting final verification as to whether the information as they understood it was correct.
We have had the meeting, the lender has been exposed, what now?
There are other things that you will want to do when we get you into escrow. But before that, you may want to access the computer systems and look at the crime maps to see what his happening in the neighborhood you like.
What types of crimes are there? What about megans law? Are they any registered sex offenders living in close proximity to you or is anywhere too close?
Call the local Police Department or Sheriff's Office. You are going to want to find out what detective or official handles the area where you are considering buying a Santa Clarita or other area Southern California home.
They will tell you straight, but in most cases, the computer will have better intel than most of them, just because some agencies don't do well communicating with each other.
These are important types of due diligence. Following up with local law enforcement to see if there are any issues that could come up at a later date.
You have your sights aligned and you are ready to fire!
Forgive my LAPD Firearms teaching days. You have found the house you love, you have your lender in order and you are ready to have me write the offer to buy that Santa Clarita Home.
We have gone through the comps to see where the value is compared with the sales price.
We have worked through how we want to structure the offer and what paperwork is necessary for you to give me so it can "officially" accompany the offer.
I have your lender jumping through hoops to give us a stronger approver letter called an Underwriters approval.
We also have your funds verified with statement where any sensitive numbers have been blotted out.
I have verified the submital process on the Multiple Listing Service, I have scanned and digested the contents of the MLS form and verified the communication and offer tactic that the seller's agent desires.
I explain everything and we fire a solid shot with 7 attachments to a single email with clearly labeled documents that will contain everything the seller needs to know to make their best decision.
If chosen, move on to the next step. If we are not chose immediately, there may be a countering process, where the seller is going to send counters to all or a single offer (depending if there are multiple offers or just ours received).
Most of the countering process is multiple today. There are multiple buyers that want every single listing that enters the Santa Clarita real estate market as for sale.
Hence the return from the seller maybe pertaining to stating that they are not going to leave the refrigerator as you wanted on your offer. And they also want you to give them your best and highest offer in response to their counter offer.
There may be other things that state who the escrow company and title company the seller wants to use and how long the seller desires for escrow.
This is where the negotiation happens. You can choose to increase your offering amount, make your financing better if able, providing more of a down payment (if you are able) and compressing the contractual time frames, inspections from 17 days to 10 days, in order to make your offer sweeter to the seller.
There are a lot of ways to make your offer better without playing with the originally offered price. I have a few great ones that can trump a higher monetary offer.
SOLID HIT - 10 RING!
Maybe we went back and forth a few times. Maybe we were told no, and the other buyer backed out, and we are back in. There are many reasons and types of ways an offer is accepted, but we are in now.
The next steps are always very important, first - you need to know when is the latest you can cancel the transaction to get your deposit back, fully refunded.
Your deposit on the home you are buying is money that is made via wire transfer within a couple of days from when your offer was accepted. It's a negotiated item and you will have been made fully aware how much and other terms.
Most likely it was somewhere between 5k and 10k in this current Santa Clarita real estate market Q1 - 2021.
Some agents are much more demanding and want 3% of the sales price or offering price. That act thins the flock and does not give any indication of who will go the distance versus who will not.
Some people only have the minimum to buy a home, some that would have that full amount may be easier to walk away if there are any issues that come up where the seller denies the buyer what they want.
Other agents forget really soon, and do not educate their sellers as we do.
Now that I have you in escrow, in this article, I will leave you soon until the next time I write, which will be tomorrow.
But, never forget of the other "off paper" investigation you need to do!
Neighbors can tell you a lot about a neighborhood.
Some are even interested to talk to you about what home you are buying.
Trust me, they are as curious as you as to who you are and what you are about.
I have, during the door knocking phase, had a deal completely cancelled because I was representing a lady who was unaware her x was living next door, the X was for domestic violence and she had a restraining order on file.
I'm glad she found out early and took my advise to check out the neighbors.
While we have COVID19, there are other ways to do this door knocking scenario, virtually.
Cards left with a temporary "google voice phone number". IT's free and you can explain you are buying the home located at ___________________________, you'd appreciate a call back because you want to check on the neighborhood.
Most other homeowners will be extatic to speak with you. As I stated, they are just as curious about you as you are of them.
Eventually, you will have spoken with the chatty person and she/he will tell you everything that you wanted to know and some items that you didn't.
If you are buying a condo, town-home or even a single family home with restricted parking or which is located by a busy street, you need to go buy after hours and at other times.
The reason is you only saw the home once during a particular time of day during a specific day of the week.
You want to go back at other times to investigate the parking situation and if there happens to be unexpected noise from the highly trafficked streets.
I'm Connor MacIvor with REMAX. Please, when you are ready reach out and I'll take great care of you.