David Morrell - Santa Cruz County Real Estate

The sunsets in our town are always magnificent, especially down by the Harbor Lighthouse!

Just Sold!
575 Arlene Dr, Watsonville, CA 95076

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Written by me in 2010, these principles may still apply to someone currently buying a home.

Buying a home may be an exciting part of your life! This blog will help you manage that excitement and proceed through the process with a clear conscious.

The Home Buying Process

The Final Month Before Owning Your Home; Partnering With Your Realtor

You expressed your wants and needs and hopes and wishes, and then you translated those into finding your new home. You negotiated a deal with the seller and you have an accepted and fully signed contract to purchase your new home. Your Realtor is now ready to partner with you through the next stage of the home buying process, your approximately 30 day journey to the close of escrow.

Wow, I’m Buying a Home

This can certainly be an exciting time and can be a stressful time too. You may wake up in the middle of the night, and you may have a bit of a knot in your stomach. It’s normal to worry. The decision stays with you every day for as long as you own the home, and it’s both your sanctuary and place to entertain. However, there is a strategy that can work to alleviate your stress; let your Realtor work on the details of this transaction. They do it every day, and they know your worries, so they can be sensitive to your feelings and they will take care of those things that concern you. Plus, they will worry for you, and they may also be waking up in the middle of the night thinking about all they have to do to be sure you’re making an informed decision about your home, and to get you to the close of escrow.

The Initial Phase; Your Contingency Period

Most all contracts have a built-in contingency period (the standard time frame is 17 days) for you to review the seller’s disclosures and investigate your house, your property and your new neighborhood. During this time you have the right to change your mind and cancel the contract without any obligation. It’s important to note that there is an investment of time and money during this period. Home inspections cost hundreds of dollars, and the lender will order an appraisal which customarily will need to be paid up front and costs approximately $500. Take a day or two off work, and/or dedicate a weekend to go to the house and visit with your inspectors.

Seller Documents About Your Home

There are often over one hundred pages for you review and sign. The seller will tell you the history of the property, to the best of their knowledge. They are required to report work they have done to fix certain items and any new work they have done recently to the house and land. You get to meet at the home and probably at your Realtor’s office to go over paperwork and your findings.

Your Final Decision

At the end of your mutually agreed upon contingency period you make your decision to commit to buy the home. This commitment is put in writing and signed by you and delivered to the seller. Finally, after all your searching for the right home, you start packing for your move. Congratulations on this step. It’s time to get busy all over again.□

This chart shows the number of properties that went under contract each month for the past 12 months; these are referred to as pending sales. Most of the statistics used for national news stories about the real estate market relate to closed sales, so tracking pending sales is a way to be 30-60 days ahead of the news cycle.

Written by:

David Morrell

Thank you C21!

Congratulations David Morrell - Santa Cruz County Real Estate DRE #01301485!