Sacramento, CA Home Buyer's Guide

Your First Home Starts Here

If you are a first-time home buyer, purchasing a home can be an exciting yet intimidating experience. We are here to make this next step a smooth and easy process for you. We have provided information and resources to help answer any questions you may have about the home buying experience. Start with the resources we have provided on this website, and visit our community pages to find out more about our greater Sacramento communities. Please contact us if you have any questions or if we can help you get started with your home search.

Home Buying Process

1

GET PRE-APPROVED FOR A MORTGAGE

Once you're ready to buy a home, it's essential that you first get pre-approved for a mortgage loan. Going through the pre-approval process means your lender has reviewed your financial status by verifying your income and debt status. Once you've completed the pre-approval process, your lender will be able to tell you with confidence just how much house you can afford to buy based on the loan amount for which you qualify. Don't confuse the pre-approval process with a pre-qualification, which will simply ballpark how much you can you afford to spend based on unverified income and debt estimates.

2

HOW TO DETERMINE YOUR OFFER PRICE AND TERMS

Everyone wants the best possible terms when purchasing a home. However it's not always easy determining how much to offer, especially in the face of constantly changing market conditions. Your agent can help you craft a reasonable offer because he or she lives and breathes real estate and knows what it will take to get your offer accepted. In addition to sticking to your budget, your REALTOR® will review a range of factors including the number of for-sale homes competing for your offer, the terms sellers look for in a clean offer, and any additional terms that are likely to appeal to a specific seller. Whether the market favors buyers or sellers, there will always be comparable market data and fluctuating contractual terms that your agent will be able to analyze in order to help you craft and submit the winning offer!

3

SUBMITTING AN OFFER

A real estate purchase offer is a legally binding contract that a homebuyer uses to make an offer on a property. It is a document that contains information about the purchase transaction and the homebuyer's rights and obligations. The primary elements of the purchase offer include the offer price, down payment, earnest money deposit, and contractual dates that stipulate when the transaction will close and how many days the buyer has to meet certain conditions including the property inspection, appraisal and loan periods. Within the purchase offer, you will also commit to various additional details including escrow costs, real estate transfer taxes and if any local point of sale ordinances will be paid. Once your agent makes an offer to the seller's agent, you may need to negotiate counter offers to reach final agreement.

4

THE CLOSING PROCESS

Once your offer has been accepted and your inspections completed, you will need to attend the closing, or settlement. The closing is the legal transfer of ownership from the seller to you. The title or escrow officer will prepare the HUD-1 Settlement Statement, which outlines all of the costs for both the buyer and the seller. You and your agent should schedule a walk-through of the home 24 hours prior to closing to ensure that any agreed-to repairs have been made and that the home is in the condition outlined in the contract. If the property does not meet the agreed-to terms, your agent can delay the closing or request money from the seller to fix any issues. Once the property meets with final approval, the buyer obtains the keys to his or her new home!

Get Pre-Approved

Generations Home Loans is a trusted mortgage provider dedicated to helping families achieve their dreams of home ownership. With a history of excellence and innovation, the organization offers tailored lending solutions to meet each client’s unique needs. Its experienced team of professionals provides personalized guidance and expert advice, empowering borrowers to build wealth and long-term stability through owning a home.

For more information about Generations Home Loans, contact us at [email protected].

Get pre-approved today

Find Your Community

When looking for your new home, you’ll want to start by identifying the community you’d like to live in. Do you want to take public transit to work? Walk to neighborhood shops and restaurants? My neighborhood information gives you lifestyle information including walkability and transit scores, dining rates, commute time, as well as housing information. Contact us today. We are happy to walk you through the process, step-by step, and help you find the home that's right for you.

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Buyer’s Guide

Your First Home Starts Here

Home Buying Process

Get Pre-Approved

Find Your Community

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Buyer’s Guide

Your First Home Starts Here

Home Buying Process

Get Pre-Approved

Find Your Community

Work With Us

Get in Touch

Get in Touch

Get in Touch