How to Purchase Real Estate in California?

The process to purchase home is basically similar in all the states. There is one slight difference in California home purchase process. Unlike in other state you are required to open an escrow and attorneys do not complete the home purchase transaction. Opening of escrow is usually done by the seller’s agent but if not your agent will do it for you the moment you select a house.

To complete the sale and purchase of home in California you need to hire a licensed real estate agent like dream equities. There are two types of licenses issued in general, one is for sale person and other for broker also called as agent. The sales person will always work under the broker or agent.

The real estate companies like dream equities are a group of brokers who work together. Such companies are generally better equipped compared to independent brokers. There are mainly three types of agents, sellers’ agent, buyer’s agent and dual agent. 

The first thing you need to do is get a buyer’s agent even before you start headhunting houses. The next important step is to get a pre approval on your home loan. This is important because it shows your seriousness and the agents will treat you with attention. Some real estate agencies like dream equities offer in-house consultation on getting a mortgage broker and preparing your credit report.

Once you have finalized a house you will have to make purchase offers in consultation with your agent. In California it is mandatory to make the purchase offer in writing. If you are buying the house in hotspot, be prepared for multiple purchase orders.

Once your offer is accepted you will be required to deposit your earnest money cheque. Do not ever make your earnest money cheque in the name of seller. You will get your earnest money back if your offer doesn’t go through. Rest of the process is basically similar to other states.

Make sure that you hire a qualified and experienced agent like dream equities. Discuss your doubts and concerns with your agent. If your offer is rejected, ask your agent to explain why and do not repeat those mistakes again. A qualified and experienced agent will work with you until the title and records department informs you that title has been transferred in your name. Once tittle comes through the property is yours unless your contract says otherwise. It’s time to change the locks.