Buyers Timeline

Home buying is no small task, no matter where you look-and Newport Beach CA is no exception. From finding an agent to choosing a home to getting those elusive keys to the house, there's always a whole lot to go through. But like any other job, it's always easier when it's well planned. NewportOC.com offers this simple timeline to help you find the best Newport Beach homes and get the most out of your purchase.

1. Identify Your Needs.

The first step is always setting your goals and knowing what to look for. You'll find all sorts of properties in Newport Beach CA, each with its own pros and cons. Do you want a home by the water, or would you rather be further inland? How much room do you need to be comfortable? Write it all down so you'll have a good reference when you start looking at Newport Beach homes for sale.

2. Find A Real Estate Agent.

Whether you're buying your first or fifth home, you'll need to work with experienced Newport Beach Realtors. You want someone who knows the Newport Beach real estate market and has a good track record to prove it. More importantly, you want someone who can answer all your questions and take time to discuss your options. Ask for references or get tips from people who have bought Newport Beach homes in the past few months.

3. Get Pre-approved.

Newport Beach real estate occupies a pretty broad price range, so it's important to know what you can afford. This is where pre-approval comes in. By getting pre-approved, you let the seller know that you've gone through the necessary checks and meet the lender's standards for a mortgage. Your agent can refer you to a professional to get the process started while you prepare for the purchase.
 

4. Go House-hunting.

Now comes the fun part: choosing a home. Since you've been pre-approved, your options have been narrowed down to Newport Beach homes that fit your budget and preferences. You can do your own research-look for Newport Beach homes for sale in papers, magazines, or online listings. However, it's usually best to let your agent can do the initial search since they'll have more connections in the Newport Beach real estate market. He or she can draw up a list based on your criteria and arrange for home tours for those that pique your interest.

5. Make Your Offer.

Once you've settled on a home, you can start preparing your offer to purchase. Your offer price will depend on recent sales of Newport Beach homes similar to the one you're buying. Your agent can help you draft a contract detailing the process and which tasks and costs will be shouldered by each party. This becomes legally binding once you and your seller agree on the terms, so make sure you understand every word.

6. Negotiate.

Newport Beach CA sellers often make counteroffers proposing changes in your initial draft. In most cases, you'll need your agent to negotiate using his or her knowledge of the Newport Beach real estate market. They'll help you see which terms are fair and which ones are a bit doubtful. Remember, when it comes to Newport Beach homes, almost everything is negotiable, so with the right knowledge you can use this to get some leverage. Besides the price, you can also negotiate for sharing the closing costs, the move-in date, the repairs needed, fixtures and appliances, and landscaping work.

7. Prepare To Close.

Once you've reached an agreement, you can start preparing to close the sale. Your next few steps will depend on what you agreed to do in the contract. For most Newport Beach homes, these include arranging for a home inspection, getting an appraisal, securing title insurance, getting a home warranty, and setting up financing. Again, your agent's Newport Beach real estate knowledge will come in handy in making sure it all gets done on time.

8. Close The Sale.

The final step is when you sign that all-important document and the property is legally transferred to your name. This usually occurs in a formal meeting where everyone involved, including the agent and broker, will be present. In Newport Beach CA, closing is usually done in a lawyer's office or the place of the title company. At least a day before the closing date, your lender will send you a closing statement stating the closing costs you will have to pay. Have your agent review it to make sure everything is accurate, and make sure to bring all the necessary documents at the closing.