Can anyone tell how to buy a house in Cali? I don't like places like zillow where pricing is overrated. Also they take brokerage from both the buyer and seller. Any advice is much appreciated. Thanks TC:250K YOE:3
You find a house listing that you like. You visit that house. If you still like it, you make a formal offer. If the seller accepts that offer, then you have bought a house. Let me know if you have additional questions.
You left out the part of paying for the house
You don't have to pay for a house to purchase it. The bank does that for you.
You interview several agents and then pick one.
Make sure you have an agent before visiting any houses. Agents don’t cost you anything, find one that you like. They make money when you buy a house from the seller.
Dude... All the money in a real estate transaction comes from the buyer.
Sure. Meanwhile, my real estate paid me when I bought my last house because she made a killing doing nothing.
Find a buyer agent that gives 2% rebate. Hold your line and don’t listen to any BS especially your buyer agent to increase bid emotionally. We have a broken model in US where buyer agent in fact works for seller, but you have to rely on them to get rebate. Always keep this in mind
Thanks
This is such incorrect information. The buyers’ agent represents you, the buyer, and not the seller. You are probably mistaken by how commission is paid, which is generally all paid by the seller. However, it is against code of conduct, and illegal for that matter, for buyers’ agents to collide with the sellers or negotiate against their own client.
- Are you financially ready to buy? Consider your credit status, how much you would be able to put as a down payment, closing costs, earnest money and having cash reserves available. Being house-rich and money-poor ain’t a good recipe. - Determine ‘generally’ where you want to live. - Ask your circle for recommendations on an agent, or do some online research and interview a few agents. Don’t start shopping for houses and work with the listing agent - only idiots do this. You need your own representation who will work on your behalf. Your agent, if a good one, will be able to give you a clear framework for the purchasing process and answer any question you throw at them with confidence. Because you already determined where you want to be, recommend getting an agent with great knowledge and experience in that area. - Shop 3 local lenders and get prequalified for a home loan. Your agent may already have some they like to work with. This will help determine your purchasing power and be prepared for when you find ‘the one’. Most good agents will expect you to either come to them prequalified, or get prequalified before looking at houses. - Start looking for houses, of course. - Submit an offer. Sometimes several times. Your agent, again if good, will put an offer together which makes you the most competitive but also leaves you in a financially strong position. Ie - neither overpaying or lowballing. - Offer accepted! Once you get your offer accepted, the home goes under contract and a series of events kick off (inspections, title search, mortgage finalized, etc) - Close of escrow. Boom - you’re done. Final Docs are reviewed and signed, and you receive the keys to your new home.
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