What to Expect When Buying Real Estate!
Purchasing a home is typically the largest investment a person will ever make. Whether you are purchasing your first home, or an investment, the purchasing process can be a daunting yet exciting experience. Fortunately CTS Realty is here for every dip and turn and our only focus is getting you your dream property at the best price possible.
Buying a property in seven steps:
1.Cash Purchase or Applying for a Loan
Finding the right partners such as a lender is essential to buying a property. Whether you are going through the financial institution you bank with, or a Mortgage Broker, CTS Realty is here to assist. CTS Realtycan even provide a few recommendations from our preferred partners who have proven time and time again to be the best in the industry.
2.Determine What You Want
First things first, ask yourself “what am I looking for?” Do I want a house, or a condo? What areas or communities do I like? How much can I afford, and what do I qualify for? Once these initial questions are answered, our staff at CTS Realty,are ready to talk about the fun stuff. Do you want a pool, or a 3 car garage? Once you have identified these answers the buying process can be no sweat.
3.Let The Hunting Begin
After narrowing down what type of property and how much you wish to pay. CTS Realty and our agents have access to hundreds of properties through the MLS, our realtor network and our investor network which includes over 280 plus properties we manage. Not only will you be set up on an automatic search based on your desired criteria, but we will also set you up with an exclusive online portal which will provide you with 24/7 access to the MLS.
It is important to forward any properties that interest you, so we can research and schedule appointments for showing.
4.We Have Found A Property, Lets Write An Offer
It is now time to sit down and draft an offer for purchase. First CTS Realty will perform a market analysis to assist you with determining the price of your offer. In addition during this step, CTS Realty will explain the contract in entirety which will include the contract contingencies used for your protection. After drafting and signing the purchase contract, your offer is then sent to the prospective Seller(s) representative.
Upon acceptance you should then be prepared to deposit some earnest money, which is typically 1% of the total price for purchase. The earnest deposit is used as a Monterey commitment to provide good faith to the Seller.
With an accepted offer in hand, it is now time to schedule all essential inspections. Home inspections are important so you as a Buyer can make an informed decision on purchasing the subject property. Home inspections primarily focus on the major defects the rest in the property that will cost the buyer potentially a ton of money later on to repair, or replace. A representative from CTS Realty will always be present at the time the Home inspection is conducted.
6.Negotiating Repairs or Accepting The Property As-Is
If the home inspection was returned disclosing some defects, we can then approach the Seller asking for some concessions and or repairs to be made prior to closing escrow. In the event that the Seller cannot afford to have the necessary repairs corrected, you as a Buyer then have the choice to purchase the property with the full knowledge that any repairs required will be at your sole expense or walk away unharmed as long as you were still inside the appropriate inspection periods. CTS Realty has a full list of preferred Vendors to help assess repairs needed to give you peace of mind.
7.Closing and Handing Over The Keys
Believe it or not there are several people involved in your closing which include representatives on the sellers behalf to all contribute to a smooth closing. CTS Realty will continue to work closely with your lender, title companies, inspectors and other agents, to ensure closing is maintained on time, and effortless. Once the title company has drafted the final closing documents, CTS Realty will personally attend to ensure any questions you have an answered, and you feel as comfortable as possible. Next title will record all documents, and the home is yours.
Want to Sell Your Property Now What
At CTS Realty , we initially meet with our Sellers to provide guidance on how to prepare their property for sale, and help determine a starting list price based on market analysis and the Seller’s needs. Selling your home can be a stressful experience, and choosing the best agent for the job like CTS Realty can make all the difference. CTS Realty not only provides the upmost in customer service, but we also have the complete knowledge in our industry to help you relocate and get your property sold.
When you list your home with CTS Realty you will not only be met with our expertise but also with our impressive marketing skillset. Our agents utilize over 80 websites in addition to the MLS to assist with providing your property with the maximum exposure. In addition to our extensive online marketing presence, we hold open houses, and use our network of investors and agents to ensure your property is sold at the highest yield and limited time on the market.
CTS Realty also has a tremendous amount of short sale experience and has successfully closed countless short sales. When short selling it is important to make sure you have an agent who has experience, knowledge and knows how to negotiate.