The Ultimate Real Estate Buyer's Guide
What you need to know to be successful
Congratulations!The decision to buy real estate property, be it commercial or residential, is an exciting one. The experience should be enjoyable while acquiring the perfect property with the least amount of hassle. Sohrab Karim is devoted to using expertise to make your transaction successful! Listed below is a very simple run down of the buying process so that you may be well equipped with the knowledge moving forward. If you have any questions, you can reach out to us by hitting the chat icon on the bottom right.
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1. PrequalifyingProbably the most important step in the whole Real Estate transaction. Preparing yourself to buy puts you in a better position no matter where you look at it. Together with Sohrab, you must answer:
- Do you have the buying power to afford a property that fits your need? - Is now even the best time? How much down payment do you have? - Have you been pre-approved by any financial institutions? Answering these questions prepares you in a unique way because now you have a budget, leverage against a seller, and it makes the transaction smoother overall. |
2. Property SearchFavorite part of the process by many, the property search is looking for the property that best suits your needs. To help you, we put together a list of the best properties that fit your criteria, both on and off the market. If you wish to take a look yourself, you can use many IDX search engines or our search engine on our website here.
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3. Making An OfferOnce you've found "the one", you can now put an offer on it. Be careful though, this is a BIG step and you want to make your offer competitive. Partnering with Sohrab, battle-hardened and having extensive experience, is a sure way to get you what you want for a fair price - all things in your best interest.
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4. Contracts and ContingenciesCongratulations! You are in contract and you're on your way to becoming a property owner. When you are in contract, this means the seller has accepted your offer. Sohrab will guide you through the contract and make sure you understand everything you need to know. Contingencies are the final details such as inspection, loans, etc. Once those contingencies are performed, they will be removed from the contract and you are one step closer to closing.
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5. Closing & Transfer Of TitleOnce all contingencies are removed, transfer of title will take place with a Title Company. After closing procedure is finalized and all documents are recorded, you are now the owner of said property. That's it!
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