7 Tips for A New Buyer in the San Diego Real Estate Market

1. Check your credit rating with the 3 credit reporting agencies and determine if there is anything that might need to be corrected before submitting for a loan. The best way to do that would be to run your own credit report and verify all the entries. If there are errors, address these right away with the reporting agency and the company that submitted the error.

2. Establish the amount down payment that you can make and make sure the source of that can be demonstrated when need be. It is a requirement in the offer to purchase to prove the source of the down payment.

3. Establish a relationship with your REALTOR ( Hopefully that will be me) and then hire me with an exclusive Buyer Representative Agreement. Then I work for you. I have written several articles on Buyers Brokerage and will be glad to forward them to you.

4. Establish a rapport with a good lender and get pre-approved by filling out a credit application. I would be glad to refer excellent lenders in the San Diego area for you to talk to. The goal is here is pre-approval but it is also important to work with someone you feel good with and have confidence in. Communication is very important.

4. Zero in on the area that you would like to live and establish at least one alternative area. This is really important here in San Diego. I would be glad to prepare drive by lists of sample properties in various neighborhoods. be on the look out for services that you like in the area, schools, shopping, churches, library, etc.

6. Search real estate home sites on the Internet ( I will supply you with access to search my homes site ) and establish and understand what limits there might be in the qualifying price range. In other words get realistic with what your budget is and what your budget will actually purchase. Generally, you will have a number of trade offs so be prepared for that. Understand your needs are necessarily the same as your wants and must haves. We must address the needs first and with what is left we can try to get more of the wants,

7. Ask Questions. As things occur to you and questions arise, write them down and review these with me as your REALTOR. There are not dumb questions. Everything has importance and the more you ask and understand the better your decisions that you make will be.

Part of what I will want to go over with you prior to any purchase is a sample contract and numerous addenda that cover various aspects of your rights and duties during the escrow period. It is imperative that you fully understand your offer, your rights as a buyer and also your responsibilities. Once I go over your blank contract,I will give it to you and this is an excellent time to be consulting with your legal adviser if you have questions beyond the general ones I will answer. You must clearly understand that I am not an attorney nor an accountant. There will be legal questions that I can not answer and there may be specific tax or accounting questions that I can not answer. I strongly recommend that you get prepared in advance of purchasing by establishing relationships with these advisers. Even in a slow market, timing frames are usually very pertinent and this most important aspect of your purchase should not be over looked or delayed to day that you need it.

So, there you are, the basics in a nutshell leading up to finding and starting the purchase process of your home. It doesn't stop there, it actually just begins. Another part of my counseling will take you through the purchase process and the required due diligence leading to the successful close on your home. Then there is the ongoing counseling of how to improve your home, maintain it and protect the value of your new most valuable asset. Our relationship ,once you hire me will be for the rest of your lives as your counselor and real estate adviser.

Coutesty of William Johnson GRI CRS e-PRO author of The Real Estate Text Book and The Voice of San Diego Real Estate