Gaslamp Realty

Where The Historic and The Modern Meet

First-Time Buyer Tips

The first thing you need to know about buying a home is that people just like you do it every day and you can too! It is a big event costing thousands of your hard-earned dollars and can be an emotional roller coaster for everyone involved. Let Gaslamp Realty show you the way; the proper preparation will set you on the right course to achieve your goal of a successful first purchase.

Take a deep breath and rest easy in the knowledge that Gaslamp Realty has helped first-time home buyers close escrows on their dream homes countless times over the years and you are a few steps away from the same dream come true.

First-Time Home Buyer Tips:

  • Research the neighborhoods you are interested in, read up on the schools in the area, and get a feel for the businesses and the atmosphere
  • Always get a Home Inspection
  • Have your loan paperwork in order: W-2 forms, Federal tax returns, bank statements, and paystubs... also discharge papers, SSI award letters, business license
  • Check your email often for updates and don't hesitate to contact us with any questions you have
  • Review all emails, disclosures, and paperwork; act promptly, time is of the essence
  • Call Gaslamp Realty for reliable, professional help 619-795-4756

The 7 Steps to Home Ownership

STEP 1: Consult with a Gaslamp Realty Agent
Tell your Gaslamp Realty agent what you are looking for in a house including price, age, view, location, school district, geography, amenities, garages/parking, square footage, bed/bath, construction style and the like. Your agent will work hard to find the home that best matches your desires. You will receive email updates on all MLS listed properties that fit your personalized criteria. This is the best way to stay informed of market availabilities.

STEP 2: Loan Approval
You must speak with a Loan Officer to determine the price range and monthly payment that you qualify for. Pre-Qualification and Pre-Approval are informative and good first steps but you must be Fully Approved to move forward with a purchase. Visit our Community Resources Page for referrals to Loan Officers you can speak with directly.

STEP 3: Find a Home
The emailed listings you receive will have extensive information on each property. Together with your Gaslamp Realty agent you will select properties to view. The process of home finding can be laborious so have patience and be diligent. Gaslamp Realty will do everything we can to accommodate you and your schedule to make the process rewarding. Your Gaslamp Realty agent will give you a candid opinion of every property that you view. This information is very valuable and you will learn much about housing during this phase. What are your criteria? Tell us on our Contact Us Page and we'll call you right away.

STEP 4: Make an Offer
Once you have found a home that you want then you will make an offer to purchase it. The process of making an offer is complex and is replete with legal requirements, strict timelines, and money and property changing hands. Gaslamp Realty will walk you through the process so that you understand everything. We will make sure your interests are represented at all times during the transaction. All offers to purchase are contingent on many factors. All offers are negotiable. All offers are legally binding.

STEP 5: Offer Acceptance
Once your terms are accepted by the Seller and the Sellers' terms are accepted by you then we have reached offer acceptance. At this point the timelines are now in effect and many things will start happening at once including ordering an appraisal, inspections, repairs, and a title report. Your Gaslamp Realty agent will keep you informed at every step. You will participate as well by reviewing documents and submitting paperwork. It is the Buyer's responsibility to perform due diligence on the property.

STEP 6: Close of Escrow
This is the step we have all been working so hard towards. Once all purchase contract terms have been met and loan conditions are satisfied we are ready to Fund, Record, and Settle the file. You are now a proud Home Owner!

STEP 7: KEYS!!
Once the dust settles your Gaslamp Realty agent will get the keys to your new home and you will begin your long anticipated journey of home ownership. CONGRATULATIONS!!

Read More

Call Gaslamp Realty for reliable, professional help 619-795-4756