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Buying a home in Laguna Hills, California can be an exciting yet a tough process will be undertaken. Buying a house Orange County is not easy as you think it is. If it is your first time to buy a house, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation and experienced professionals at your side, you can buy a home and glide through the steps of buying a home with confidence. Here is the process in your buy house operation in Orange County.

1) Assess Your Needs – Prepare yourself for a positive experience by making a list of items you need and want in a home, such as which neighborhood you want to live in, the size of the home and any amenities. Look through our website and find out what the average cost of your ideal home is, then estimate the mortgage payment. The experts say that a mortgage payment should not be more than one third of your monthly gross income. If the cost of your ideal home exceeds your financial reality, adjust your expectations and begin the buying a home process with realistic goals.

2) Consult the Specialists – Speaking with a real estate and/or mortgage loan professional right away can save you time and frustration. A knowledgeable professional can give you current information on real estate market and answer any questions you have. We can also assist you in the process of prequalifying for a home loan. Homebuyers who have prequalified know exactly how much money they will be able to borrow for a home. Prequalification can increase a buyer’s chances of having his offer accepted during negotiations.

3) House Hunting – Touring houses for sale is one of the most enjoyable steps in buying a home. With the help of your realty expert you can save time by limiting your search to homes that meet your financial and personal criteria.

4) Make an Offer – Making an offer on a home does not automatically obligate a buyer to purchase. Included in the offer are contingencies such as that the title to the home must be clear and the home must pass inspection by a licensed inspector. Your real estate expert will assist you in making the most reasonable offer, based on his knowledge of the current market.

5) Negotiating – It is common to receive a counter offer from the buyer, sometimes asking for a higher price or a division of the closing costs that is more favorable to the seller. At that point a buyer can accept the counter offer, submit a counter offer of her own or reject the counter offer at no penalty and continue house hunting.

6) Get Insurance – Before you will be allowed to close the loan and officially take ownership of your new home, you will have to buy homeowner’s insurance. A typical home insurance policy protects against theft, fire and liability, but if you live in an area of California prone to earthquakes, considers paying extra for a policy that will also cover earthquake damage.

7) Closing – Closing is often referred to as “escrow” . The typical period for escrow is 30 days; however, you may have agreed to a shorter or longer escrow period during negotiations. During escrow the transaction process becomes finalized. Title records are checked for errors, taxes and other claims must be settled, loan and title documents are signed and the buyer is allowed a final walk through to make sure the condition of the property has not changed. After all the necessary paperwork is signed and filed and escrow has closed, the new owners receive the keys to their new home and are free to move in.

Now that you know the processes in buying a home in Laguna Hills, don’t hesitate to start assessing your assets and finding your perfect dream house. Buy a home now and experience the comfort and safety in your very own abode.