Past Transactions

Whether it’s your first transaction or your tenth, it’s still stressful purchasing property in California. The best way to reduce stress is to follow these four steps:

1. Plan Ahead:  Start working with a trusted lender as soon as you can.  Your lender will help you develop a plan to purchase either immediately or in the future.  

2. Get Underwritten:  While you are planning your purchase, work with your lender to get an underwriter’s approval.  Being underwritten instead of having a “pre-approval” makes for a much stronger offer and for a smooth escrow period.  

3. Make your list of “must-haves” vs. “nice to haves”:  Now that you are underwritten, not only do you know what you can qualify for, but also what your monthly mortgage payment would be, you can even start determining what you are looking for in a home.  Make a list of all the must-haves for your next home.  For example, the number of bedrooms, the size of the yard, or the home’s location.  Then, make a list of the “nice to have.”  What are the things that would be nice to have in a home but are not dealbreakers?  For example, an outdoor kitchen, a tankless water heater, or side yard access.  Once you have that list completed, it will make your home search less overwhelming. 

4.Understand the RPA: What’s an RPA you may ask??  It’s the Residential Purchase Agreement.  This is the document that you will submit when making an offer on a home. Sit down with your REALTORⓇ before you make an offer to understand what your obligations are as a buyer and learn what the milestones are during the escrow process.  While the RPA is full of complicated verbiage it’s important to understand ahead of time, so that when you actually submit an offer, you’ll understand the process.What’s an RPA you may ask??  It’s the Residential Purchase Agreement.  This is the document that you will submit when making an offer on a home. Sit down with your RealtorⓇ before you make an offer to understand what your obligations are as a buyer and learn what the milestones are during the escrow process.  While the RPA is full of complicated verbiage it’s important to understand ahead of time, so that when you actually submit an offer, you’ll understand the process.

Follow these four steps and you will feel a whole lot better and less stressed during the purchase process.  

If you’re thinking about selling your home, the first thing to do is find a REALTORⓇ.  Find a REALTORⓇ who is knowledgeable about your town or neighborhood.  How do you do that? Ask friends and neighbors for a referral.  Do a little research. I would recommend that you speak with at least three agents.  Find out what their philosophy is, inquire about their process and what their services entail.  Ask for references.  Good RealtorsⓇ are happy to give you all that you need to make your decision. Remember, selling your home is an emotional experience.  You need someone that you can trust, keeps your information confidential, and helps to make the process less stressful.  You will be partnering with this person to get the most money and value for you and your family.  Your REALTORⓇ will be your advocate.

Once you make your decision, you and your REALTORⓇ will sign a listing agreement to make your relationship official.  Together you’ll develop a timeline and a plan to get your home ready for market.  This includes inspections if any, repairs or renovations.  Your REALTORⓇ will have resources and referrals for all the vendors you will need.  

So you’ve found your lender. You’ve gotten pre-approved and have identified a REALTORⓇ.  Now that you’re ready to look for a home, there are some very important things that you should NOT do during this process.  Remember not to do anything that may affect your credit score.  For example:

1. Don’t make any major purchases once you are pre-approved.  Don’t buy a car, a boat or any appliances.  These companies will run a credit check prior to your purchase and will jeopardize your credit score with your lender which can limit what you can qualify for.  

2. Don’t change jobs!  Your creditworthiness is determined by your current position.  Some lenders may want you to be in your new position for 2 years before they will qualify you.  Even if you make a lateral move, your lender will need at least two pay periods before they will fund your loan. If you are in a contract on a home, this could jeopardize your close of escrow date. 

3. Don’t go on an extended vacation/business trip.  Once you are in contract on your next home, make sure you are available during the escrow period.  I always say that the real work starts when escrow begins. There are inspections, things your lender will need, and documents to sign. Make sure you are open and honest with your lender and your REALTORⓇ.  They are your advocates.  Partner with them and they will walk you through the entire process.  It will make everything a lot easier.  

So you’ve worked with your REALTORⓇ and gotten your home ready for sale and now it’s time for the open house.  It’s a bit concerning knowing that there are strangers that are walking through your home but this is an integral part of the sales process…...so hang in there!

Remember, you only have one chance to make a first impression so you want to present your home in the best possible light.  Think, what would I notice if I were going to an open house? 

1. Have your home professionally cleaned.

2. Have the windows professionally cleaned.

3. Pick up dog beds, cat scratching posts, litter boxes, and pet toys.  Put away all signs of the family pets.  If you have a garage, store them in there.  Also, remember to check your yard for little “packages” left by your pet.  Make sure the yard is clean.  

4. Check to make sure that all of your lights are functioning.  Replace any burned out bulbs and make sure that all lights in each room are the same wattage.  It makes a big difference!

5. Plan to be out of the house for the entire open house? Leave everything to your REALTORⓇ. He/she will give you a debrief at the end of the day so go out and do something fun!

When the offer is accepted and the seller signs, the contract is considered ratified.  The ratified contract is sent to the Title company that is designated in the purchase agreement. The time from ratification to recording with the county is called ESCROW. 

The Title company should be considered as the neutral third party that ensures that the contract is followed.  If for any reason there is a change to the contract, that change needs to be agreed to by both parties and documented.  That document will be sent to Title and Tile/the escrow officer will add that to the contract and ensure that it is followed.  

Once all the milestones are met, all parties have signed the documents with a notary and the lender has funded the loan.  The escrow officer will send the documentation to the County to record.  Once recorded with the county, escrow is closed and Title will then disperse the funds.   The buyer is officially the new owner and the seller is ready to move on to their next adventure.