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Given the hot San Diego real estate market, is it the right time to purchase that starter home you’ve had your eye on? What about doing a trade up for a larger home? With the cost of renting in San Diego actually hovering very close to the cost of financing a home (at 4.25% – 4.5% interest rates), the timing is looking right for many eager local home buyers and investors.

If you’re thinking now might be the time to start your search, here are the key steps to create a smooth and seamless transaction given the current market conditions.

1. Have a sit down consultation with your real estate professional
Taking the time to make a great decision in hiring the right buyers agent to assist you will save you time, save you money and lead to a hassle free home purchase. Make sure you are comfortable with their commitment, caring, and skill level in helping you to navigate the process and successfully get you moved into your ideal home.

Almost all home sellers on the San Diego Multiple Listing Service have already set aside funds for a co-operating broker, so having your own fiduciary in the home purchase, who can guide you through pre-screened homes and point out all the material facts about a property, actually costs you nothing and can save a lot of heartache.

2. Get Pre-Approved for your loan
Do you want to be able to compete with all cash buyers? Well, by you providing a Pre-Approval from a lender, it essentially turns your offer into a cash offer because the bank provides a commitment letter saying you’re good for the offer amount you’ve submitted.

While working with your mortgage lender requires some time and effort, it is essential, and will also save you time and money. A solid Pre-Approval will let the seller know that you’re a serious buyer, and more importantly, they will have the confidence to choose your offer, knowing that once they’ve sold their home once, that it will stay sold.

Read Part 2

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