Start by assessing your financial situation, checking your credit score, and getting pre-approved for a mortgage. Next, research neighborhoods and hire a qualified real estate agent to guide you through the process.
On average, the home buying process is about 90 days from the moment you sign your agency agreement to having the keys in your hand. This timeline accounts for getting associated with the market, touring, weeding through available options, and finding the home of your dreams. Once in contract, the escrow process requires 30-45 days after an offer is accepted. The pace may vary based on financing, inspections, and negotiations.
Most conventional loans require at least 20% down, but FHA loans may allow as little as 3.5%. Some programs offer down payment assistance for first-time buyers.
Besides the down payment, home buyers should budget for closing costs (typically 2-5% of the home price), property taxes, homeowner’s insurance, maintenance, and potential HOA fees. Also, plan to have 6-12 mos mortgage set aside.
A real estate agent provides market expertise, negotiates on your behalf, facilitates the offer process and the purchase of the home, and ensures you find the right space at the best price. Ask about our Buyer Suite of Services and we will gladly share an overview of all services we provide our clients.
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With 16 years of experience as a trusted real estate expert in San Francisco and Marin, Justina combines her passion for strategic deal-making, renovation, and design to create an exceptional client experience. Her sharp attention to detail and dedication to results set a new standard for personalized service, making the home buying and selling process seamless and rewarding.