• What is motivating the sale
• Open houses or flyers form other tract property
• Have their competition lowered their price or been on the market over 30 days
• The prices for other comparable models and lot sizes in the area
• Has anyone put pen to paper "written offers"
• Did any of these offers failed if so why
• What  items are included and or excluded with the property: home theater, chandelier, furniture, hot tub an or cars
• A list to sale price ratio is the closing versus the  lowest MLS listed price) Shows the  competitive of the  current market
• Did  any disclosures issues that effect value like  water instruction
• Any liens or N.O.D.'s (Notice of Defaults)

The  Mortgage Application
Sellers will believe more in a buyers ability to close a deal when they are  presented a lenders preapproval letter from a buyer.

Keep in mind that there are two major types of letters form letters the proapproval and the prequal.

The lesser valued prequal letter from your lender is not a commitment to loan and not as powerful as the preapproved.

Organization & preparation of documents:

• INCOME
  • Current year pay stubs
  • W2s and 1099s  (If applicable)
  • Tax returns for the past 2 years
• BANKING 
  • This years bank statements
  • Investments and or brokerage records
  • For independent businesses or contractor you net and balance sheets
• DEBTS
  • Loan  statements
  • Court ordered alimony and or child support  if applicable
  • Past years credit card statement copy

Financing  
 

This typically tals one to three months. SHort sales can be significantly longer. John Hyatt will be involved throughout the process to help it run smoothly.

Project On The Timelines:

• The application and required supporting documentation packaged to your  lender
• They orders  appraisal ,a credit report, and  verifying employment along with  assets
• A good faith estimate that will include cost of  closing, related costs and the  Truth in Lending disclosure
• You select a property to place an offer and open escrow
• The loan docs are signed and the lender sends funds to escrow
• The Grant Deed and other documents are recorded at ou  Orange County Recorder's Office, the seller is paid, and  the home is yours

Negotiations
The California Purchase Agreement is complex and take a considerable amount of thought input. Making an offer offer subject to certain terms and  contingencies, such as  securing a loan or  contingent upon the sale of your current home. A buyer  may also have  the addition protections of "subject to clauses" such as inspections final walk through conditions and a tenant vacating agreement (if applicable).. John Hyatt reviews every aspect of your offer. Together, we will plan a strategy for getting the most advantageous terms for you - the buyer - at the maximum price you are willing to pay for the property.

Inspections
Real estate Purchase Agreements  contain contingency clauses that allow buyers to inspect the property. Inspections may be required by lenders.. Whether the buyer or seller pays for these inspections is negotiable. Ranging from $400 to $700 depending on the square footage of the property.

In California there are two common inspections:

The Termite Inspection  for the purpose of revealing  Wood Destroying Pest and or Organisms:
The purpose of a termite inspection is to  identify live or past  pest, dry rot, fungus and  structure threatening infestations and  conditions. The inspect only covers accessible areas. If there is negative reports one can bring in special inspectors such as mold and or structural engineers.

Home Inspection:
This inspection will show  if there are  defects in the visible components of the property. No license is  required  and their job is not to repair but they may sometimes give general ranges as a first step which never should be weight only. Get a specialist (trades) to give a precise bid.

Ownership and Prelim Title:
The title company will do a search to determine if there are any liens and who the real owners are. Once they deem the property as Clear they will issue a title and policy with options for extended, additional coverage For more information, click here.

Escrow and the Closing Costs:
 

• Title Insurance along
• Hazard insurance 
• Taxes and HOA Fees
• Notary Fees
• Escrow fees
• Express mail and fund transfer (wire) Fees
• Loan origination & appraisals fees 
• Surveyors (optional), and  inspections
• Mortgage insurance  if applicable
• Recording fees & County Tax  stamps