Six Easy Steps To Home Buying
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How to Buy a Home in San Diego in 6 Easy Steps

6 Easy Steps Illustration
6 Easy Steps Illustration

1. Engage a Trusted Real Estate Professional

The fact is, if you go to work with a competent and caring real estate professional from the very beginning, the whole process will be much smoother and productive.

The key, as is true with any working relationship, is to find a competent and caring professional. Once you do, engage that professional for your purposes (remember you don’t pay for your Realtor – the seller does!).This truly is the foundation to a successful home purchase.

2. Next, Know What You Can Afford

You need to work with a trusted mortgage broker or lender. Your Realtor and mortgage broker, or lender need to be working on the same page to accomplish your best interest.

It’s important to get Pre-Qualified to know exactly what you can afford and what will be required to get a specific loan. At the beginning this usually involves just a 5-10 min. conversation on the phone. It is important to do this right away so as to look at homes that fit within your parameters.

3. Now You're Ready to Focus on What You're Looking For

Now you’re ready to focus on where you want to live, (Del Mar, Rancho Penasquitos, Poway, East County, etc.) what kind of home you want, and other elements that are important to you – within the context of what you qualify for.

You need the best, most comprehensive information available. You need to know where the best deals are and how to take advantage of the different opportunities. Communication between you and your Realtor are paramount during this stage – the more you communicate the better job your Realtor can do to find what you want. Be patient, but stay involved and be diligent.

4. You've Found Your Home, Now It's Time to Write an Offer

1)     When you write your offer, you also need to write an Earnest Deposit

Check. The deposit will vary, but typical deposits are in the $3,000 - $5,000 range. The check does need to be liquid and will be cashed within 3-5 days of escrow opening.

2)     Once you have an accepted offer, you can walk away for any reason or no reason within 10-17 days and get your full deposit back.

3)     Strategy will depend largely on who is selling the home (private seller, short sale, Bank), the condition of the home and the asking price. One last comment:  though not as common as a few years ago, some properties still receive multiple offers, especially well-priced bank owned homes.

5. You Finally Have Acceptance!

Your Realtor now takes your accepted offer and opens escrow with the agreed upon escrow company. At this point your Realtor needs to go into high gear to oversee and coordinate all the items that need to take place during the escrow period:

  1. home inspection
  2. termite inspection
  3. disclosure and title review
  4. appraisal
  5. final loan approval
  6. negotiate repairs
  7. insurance
  8. home warranty 

Invariably problems will arise; this is why you need a competent Realtor who is able to focus on solving problems, and smoothing out the bumps. 

6. Items Have Been Completed, Loan Docs Have Been Signed, Down      Payment Has Been Wired To Escrow, Now It's Time to Fund. 

Once escrow has received loan funds from the lender and down payment funds from the buyer it’s time to Record New Title with the county. Once the transaction has recorded the deal is closed! Get Keys – it’s yours!  Welcome Home!

Dan Christensen is a Realtor in San Diego, CA and is an expert in the market. His This Dan Can Home Selling Team, with Keller Williams Realty, is a dynamic real estate selling machine. In fact, they sell twice as many homes as the average realtor. Give him a call at (858) 869-9035 or shoot him an email if you or someone you know is interested in real estate in San Diego.

Andre S. Hobbs, Realtor
Andre S. Hobbs, Realtor
Military Veteran (#1 VA Preferred Agent)
864 Amena Court, Chula Vista CA 91910