I’m an expert in the buying process and prepare buyers to win in a competitive market. I will walk you through everything from general planning phase, home shopping, negotiations, inspections, escrow closing and move in.
The main components of the process….
Location, Location, Location. The Palms Springs area (Coachella Valley) has a multitude of delightful neighborhoods in Palm Springs, Rancho Mirage, Palm Desert, Indian Wells, La Quinta, and Indio. Along with location comes a range of varying price points, so this is also the time to decide on where you’d like to land financially. To help guide you, I have included city’s community descriptions, home price ranges, monthly HOA fees (if applicable), and current listings.
Get the Money Situated. Are you using investment accounts that need to be liquidated? Are you exchanging from the sale of another property? Do you need a mortgage? Knowing what is involved is each of these scenarios is important. Ironing out these details takes time and I’ll walk you through it. If you need a loan I have many great local lenders who will get you prequalified so you’re armed to win when that perfect home hits the market.
Viewing Homes. Start looking! Now that I know what you want the finances are organized, I’ll send you an inventory of homes that meet your wants and needs. You’ll be the first to know when homes hit the market.
Make an Offer. Now that we’ve found THE ONE, my expertise jumps in. I’ll help you write your offer to be competitive enough to win, while negotiating the best price and terms for you and your situation. Any agreement that is made during this phase is subject to your investigations of the home’s condition.
THE ESCROW PERIOD
Your offer was accepted and escrow starts! Escrow periods are typically 30 to 45 days. It can be shorter or longer, and is always negotiated based on your situation and the seller’s. This is time to communicate with your escrow officer, financial advisor, and/or appropriate funding entity to make sure you’ve given them everything they need to get the process started on their end. At this time you’ll wire your earnest money deposit to the escrow account. This is usually 3 percent of the final agreed purchase price. If you’re getting a mortgage an appraisal will be ordered at this time.
The time frame for inspections is typically 17 days, but that is flexible depending on your situation, and always negotiated during the offer phase. We inspect the house and review the title report and seller’s disclosures about the home. I have a database of excellent inspections. I’ll guide you in the appropriate inspections, organize the appointments, and be present at the home for each the inspections.
REQUEST FOR REPAIR
Depending on the home, the investigation period may reveal conditions we didn’t know when we made the offer. This is time to renegotiate. The typical approached to this phase is ask the seller to remediate items, ask the seller to credit you for the cost of repairs, or ask the seller for a reduction in price relative to the cost of repairs. Each situation is unique and I’ll help you navigate and determine the best approach.
Almost there! We’ve made it through the investigations, the house checks out and we are releasing the investigation contingency. If applicable, I confirm with your lender that the appraisal came in at the right value and make sure they have what they need to order their loan documents. If so, we’ll sign off the appraisal and loan contingencies. I’ll communicate with your escrow officer to make sure she has everything she needs to prepare for recording the home in your name. This is the time for the seller to complete any repairs they’ve agreed to.
SIGN LOAN DOCUMENTS
If applicable, you’ll sign the lender’s documents including the Note and Deed. This must be done with a Notary Public and is organized between your lender and escrow officer.
This happens one day prior to our contract close date. When applicable, the lender sends the funds to the escrow account. If you’re working with an exchange, another financial entity, or paying cash, this is the time to organize the wire for the balance due into then escrow account.
If all goes as scheduled, today you’re officially the owner of the property. Make sure to get the utilities transferred to your name. I’m still here to help with anything. CONGRATULATIONS!
Darlene and her team of experts are ready to work with you.