Secure The Mortgage On Your Bay Area Home

You will now need to contact your lender, who will arrange for an appraisal. This appraisal is required by the lender and paid for by you, the buyer. It assures both you and the lender that the home is worth the price being paid. The home inspections and appraisal usually happen within the same time frame.

At this point, you will most likely be required to submit additional documentation to finalize your loan. Typically, your lender will want to see current tax statements, recent pay stubs, updated bank statements, and proof that old debts have been satisfied. Do not lift your financing and appraisal contingencies until you have been told by your mortgage broker or bank that you may do so.

Be aware that in California, real estate agents and brokers are not permitted by law to provide you with an estimate of real estate value. Only a trained and licensed appraiser can do this. Your Bay Area Modern agent can offer an opinion as to value based on comparable market analysis, but the licensed appraiser has the final word. If you have entered into a contract for a home and find that the appraised value is lower than what you have agreed to pay, you might be obligated to purchase the home unless your contract provides for an appraisal contingency to protect you. As experts in writing real estate contracts, we will do our best to ensure that you are protected from overpaying for a home.

Once the financing is secured, you'll be ready to move to the next step in the Bay Area home buying process: Finalizing and Closing on the Purchase of Your Bay Area Home.

4007 Salem St. Concord Eichler - Just Listed

For anyone who’s been searching for that perfect, unadulterated Eichler showpiece home with many of its original mid-century details in tact, then 4007 Salem St. may just be the perfect fit. Set in the Rancho de los Santos neighborhood ...

Read More

Housing Inventory Vanishing: What Is the Impact on You?

The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is ...

Read More

Homes Are More Affordable Today, Not Less Affordable

There's a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years. It's not, however, just ...

Read More

Terra Linda Eichler at 705 Montecillo - Just Sold!

photos courtesy of: Christian Klugmann Congratulations to my latest Eichler home buyers! My clients had been renting an Eichler home for a couple of years in the South Bay and decided that it was time for them to become homeowners. They ...

Read More

3 Benefits to Buying Your Dream Home This Year

Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment Several reports indicate ...

Read More