Let’s assume you are interested in owning real estate in the Mount Shasta area and Siskiyou County. You may already live here and be very familiar with our area or it may all be new to you. You may even be a first time buyer. Whatever your circumstances, our role and commitment is to provide the support, experience, and information necessary for you to make the best choices. We regard our relationship with you as a partnership – we share the goal of finding the right property for you.
THE REAL ESTATE BROKER / AGENT: That’s us – we are the ones that help you find the right property. There’s more – we are also the ones that help familiarize you with our area, give you perspectives on properties, and assist you throughout the entire process. Some purchasers prefer to work with more than one agent. Most, though, find that they are more fully supported by one agent that is looking after their needs. It is important to have an agent that you are comfortable with, is trustworthy, is available, returns your calls and emails, and is professionally trained.
THE MONEY: You may have all cash and not need to read this section. Most people, though, need financing. There are different kinds of programs and most require a down payment but sometimes 100% loans are available. We will discuss obtaining a loan with you and refer you to lenders that have served our clients well in the past. They will look at your income, expenses, and credit and give you a pre-qualification letter stating the amount you can borrow. The letter allows you to make a stronger purchase offer since it shows the seller you can what you can afford.
You may have heard of owner financing where they carry the loan for you. In our area it is uncommon to find this for homes and is occasionally a possibility for land. Our Real Estate Financing section goes into lending in more depth. And keep in mind it is important for to make your own decisions of how large a loan you wish to take on despite what you may qualify for.
THE SEARCH: Firstly, we will help you narrow down the possibilities. What type do you want – a home, bare land, income, etc.? Would you like acreage or an easy care condo? Is seclusion more important than excellent access? With a greater understanding of your needs we can suggest particular properties. We may suggest ones that are listed with our office or with other real estate offices. We are members of the Multiple Listing Service (MLS) which enables us to assist you with our own listings and those of other offices. If you have questions about another office’s listings give us a call.
We normally will give you MLS lists that show the properties that may meet your needs. They are great to have since they give addresses and general information. We can email lists to you on a regular basis, including ones that link into the MLS website providing photos and more detailed info. The lists may seem long at first but as we show you actual real estate it will start narrowing down fairly quickly. We can also put you on an automated service that sends you new listings, price changes, etc.
Some of the properties that on the market may be either bank owned or short sales. Both present unique concerns and challenges which can make the buying process more difficult and frustrating. At the same time, it can be worth the extra effort since they often sell at discounted values. With our considerable experience with both types of properties we will do our best to facilitate the process.
THE OFFER: Once you have found the right property it is time to make an offer. This is a written agreement that includes the price and other terms you wish to present the seller. As we prepare it for you we will discuss negotiating strategies, financing, the deposit, time periods, purchase contingencies and more.
We will give the agreement to the listing agent who will present it to the seller (sometimes we may be the listing agent). The owner may accept it, reject it, or counter it. Once you and they have agreed to the same price and terms in writing we have a binding contract.
Well, sort of a binding contract. Most of the time there are contingencies in the agreement that give the buyer the right to withdraw if they cannot obtain the loan or if their inspections turn up unacceptable problems. The next step is the escrow.
THE ESCROW: Once the contract has been accepted the escrow is opened. This begins the process in which the purchaser applies for their loan and does their inspectionsne. The duration of the escrow is usually 30 – 60 days but depending on the needs of the parties it can be shorter or longer. During this period the title of the real estate is searched to determine what liens
and easements affect it and to verify that there can be a proper transfer of title.
Inspections and disclosures sometimes reveal problems. The purchaser normally has the option of canceling the sale, accepting things as they are, or renegotiating. They can request the owner remedy the concerns, credit funds, or reduce the price.
Once inspections and any negotiations are completed, financing (if any) is approved, and all other conditions are met it is time to close the escrow. At this point the buyer’s funds are released to the owner and the deed is recorded. Upon recordation we have a new owner. CONGRATULATIONS!
THE ADVICE: As you can imagine, things do not always go smoothly. Perhaps problems are uncovered with the property or the bank appraisal came in low or it turns out the seller’s long lost sister must also sign the deed and no one knows where she is (she is actually on an extended vacation in Borneo). The best approach as issues arise is to relax. Generally issues are resolved and the process is more enjoyable without riding the emotional roller coaster. Have you heard the old Chinese story about the farmer and the horse?
We are here to support you and are professionally trained to make the process as easy as possible.
THE FUTURE: Our support does not end when the escrow closes. If in the future you need recommendations for service providers, have problems with the property, would like area info, etc. please feel free to contact us.
Be sure to view our Mt. Shasta Area Links for great connections to web cams, schools, recreation, public offices, hotels, highway conditions, events, and much more. Finding the Right Property, Market Stats, Selling Your Property, Real Estate Financing, Mt. Shasta Area Info, Service Providers, and the Mortgage Calculator, are also excellent resources. And, of course, check out our Homes, Land, Income, and Commercial listings for Mount Shasta real estate, Dunsmuir real estate, Weed, McCloud, Lake Shastina, Yreka, and all of Siskiyou County.
COLDWELL BANKER MOUNTAIN GATE PROPERTIES – WE ARE HERE FOR YOU! If you have any questions or if we can assist you in any way please contact us.