Buyer Guide

Whether you’re a first-time home buyer or a veteran, buying a home is a complex process. Here are a few tips Fred Giovanetti recommends to assist you as a future home buyer. These tips will help you prepare and understand the process, determine which amenities are most important to you, and teach you how to estimate your price range.

5 Tips for Buyers

There’s no “I” in team:

In your transaction, your Realtor is the main communicator between:

Buyer	Seller
Loan Consultant	Bank
Other agents	Escrow Company
Title Company	Appraiser

Look at this group as a large team: every team needs a good leader.

There is one common goal for everyone when a new transaction is open: a smooth experience from beginning to end.  Fred Giovanetti is an effective communicator and skilled negotiator. Many times his clients have referred to him as “the glue” that held a sticky transaction together.

Unfortunately, not all transactions run smoothly due to the complexity of the banks involved and their ever-changing regulations, inflexible parties, and time constraints of the escrow process. Not only is it important to have someone representing you who is experienced and knowledgeable, but someone like Fred is able to anticipate issues that arise, preparing all parties so there are no surprises. The path of communication must stay open throughout this Team, and part of that is selecting the right Realtor, such as Fred Giovanetti.

Get Pre Approved:

You may be tempted or advised to borrow as much money as you can. However, there is nothing worse than getting in over your head. Your lender may even say you can afford to buy the home you adore, but are you really comfortable with the monthly payments you’ll be obligated to make?

• Make sure you can afford to live comfortably in your home and are able to set money aside: especially for those unexpected home repairs, savings, and other bills.
• Once you’ve looked at these numbers, you should be able to fully understand what you can afford to expend towards your mortgage costs every month.
• Pass this number and logic off to your Lender. They can back out of that figure and give you a purchase range for a realistic price.
• Sellers today are being very picky about a buyer’s pre-qualifications, and they have every right to ensure a buyer is approved before accepting a contract and starting escrow. Therefore, you want to make sure you are well-qualified before you move forward.
• It is also important to remember a few key things:
  • Is the down payment within your means?
  • Will you have enough cash to pay transaction costs and moving expenses?
  • If the house needs major repairs, remodeling, or redecorating, can you save the necessary funds within a reasonable time period?
  • Did you factor in HOA and/or Mello Roos fees?

Many of these factors will affect your purchasing power and monthly payment, so it is important to take these into consideration when shopping for a home.

Nadia recommends buyers speak to their lender and Realtor simultaneously before shopping online, as many buyers do. With so many changes within the lending institutions and their parameters for qualifying buyers, it is important that buyers do their homework first!

Buyers may not want to “bother” their banker quite yet and may still want to browse the internet before going through the qualification process. However, most lenders will give you a soft qualification based on a quick conversation, in which you give them some accurate and basic information. This is better than doing nothing at all and takes little time to do so. Fred has worked with many experienced lenders that have her similar work ethic and dedication. He can recommend one for you that specifically fits your criteria. Just ask!

List of Needs and Wants:

Before shopping for a home, it is important to know what is a “must have” and what is a “would like” in your ideal home.

• Start by making two lists:
  • The first should include items you must have, such as the number of bedrooms and bathrooms, garage space, etc.
  • The second list includes your wishes: things you would like to have—such as a pool, den, or media room—but that are not absolutely necessary

This will make it easier when comparing homes and prices, as well as narrowing down your search criteria. By having a better understanding of what the buyer is looking for, Nadia will be able to locate the perfect home for you.

Determine Location:

Determining the location of where you want to live involves many factors. Here are a few things you may want to consider when shopping for a new home:

• Proximity to employment, schools, shopping, freeways, beaches, and parks
• Quality of schools (see our section on School Reports)
• Neighborhood and trending property values

Having an experienced Realtor who understands the areas of San Diego is key to finding the right home. Fred Giovanetti has lived in San Diego for over 40 years and has been able to point his clients in the right direction based on their optimal lifestyle. He has been able to make recommendations of areas most buyers had not even thought to consider and–many years later–are still happy with their home and neighborhood.

Time to make the offer:

Be prepared and ready to write an offer.

When you find the right home, Fred will help you understand the comparable sales in the area and value affiliated with that specific neighborhood. In addition, he will discuss with you any necessary repairs or improvements to the home that you may like or need to make in order for that house to fit your needs. Together, you will approach that specific home with more knowledge, write up the offer, and she will walk you through the contract and negotiation process. Fred has helped hundreds of clients achieve their dream of home ownership, and he can do the same for you!

Contact Fred at Buy-SellSanDiego.com or 858 405 6858 or info@Buy-SellSanDiego.com

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