You chatted for a few minutes about the escrow process when you first met your realtor, but honestly, you were just excited to go home shopping in San Diego!

Now your offer got accepted, what’s next?!

California is not a “buyer beware” State.  As a buyer, your rights are very protected and you have 17 days to decide if you will move forward on your new San Diego real estate.

What do you do in those 17 days?  The very first thing you’ll want to do is an inspection.  I like to get the disclosures before the inspection, if possible.  Disclosures are any known issues with the property that could hurt its value or deter you from buying it.  If the disclosures reveal something that could be a dealbreaker for the buyers (mold, leaky roof, death on the property) then there is no point in paying for the inspection and moving forward.

Next the loan officer will order an appraisal and establish that the price that you are paying for the home is fair market value or better.  If the appraisal comes in lower, the bank will not give you a loan for the home.  This has killed a deal or two in San Diego.

Before deciding to move forward on the property, you’ll also be presented with a “Preliminary Title Report”.  This report will let you know if there are any issues pertaining to the title that could hinder the sale.  Think of the stories that you’ve heard of Crazy Uncle Joe that claimed to hold stake in the home…

Now, if you still love the home, with the blessing of your loan officer, you may now pronounce yourself  Future New Homeowner.

Click here to see San Diego homes!

You chatted for a few minutes about the escrow process when you first met your realtor, but honestly, you were just excited to go home shopping in San Diego!

Now your offer got accepted, what’s next?!

(more…)