Acquire Property

Supporting your

home / land / investment

journey

→

"Whatsoever ye would that others should do to you, do ye even so to them"

-NAR (National Association of REALTORS®) Code of Ethics Golden Rule

The first step on your journey is yours to empower:

• home ownership begins with believing you can buy a home, then;

• check your credit rating

• calculate your monthly budget

• get documents ready for loan approval, such as, yet not limited to:

  • 2 years of federal tax returns

  • last 2 years of W2s with names and address(es) of employer(s)

  • paycheck stubs - previous 30-90 days

  • any & all asset account statements

  • all addresses lived at in past 2 years

  • Gov't ID & SSN or RAC (Form I-551) or EAD (Form I-766)

  • if applicable: divorce, child-support, bankruptcy filing papers

  • any letters of explanation regarding derogatory credit marks

• shop lenders and loans

• get pre-qualified/pre-approved

• consider closing cost assistance: explore grants, loans, or rolling your closing costs into your mortgage loan

• determine which neighborhoods fit your needs

• identify which features are most important

• call me; let's talk

* the following online buyer mortgage calculators help estimate mortgage payments, affordability, closing costs, and potential homes sales proceeds - as your REALTOR®, we can tackle this together:

• Zillow

• Bankrate

• Realtor.com

• MortgageCalculator.org

Considerations for the next step on your journey:

• purchase price

• down payment

• interest rate

• points charged - origination fees & discount points (prepaid interest paid to lender to lower the interest rate) that can impact closing costs

• loan type: FHA, VA, conventional, etc.

• other settlement services: appraisal, credit report, flood certificate, title services, recording fees, etc.

• property taxes

• homeowners insurance

The third step of your journey is the charm:

• Find your dream home, cabin in the woods, or investment property, and start building your equity

Anticipated fees finalizing your journey:

• closing costs range btw 2%-5% of the total purchase price

• appraisal fees required by the lender determining the property's value

• property survey fee, if required or needed

• HOA fees or reserve contribute, if applicable

• lender fees: loan processing, underwriting, preparation of and establishing escrow account

• third-party fees: title search, various inspections (such as termite - WDO: Wood Destroying Organism), insurance

• government fees: state & local mortgage taxes, deed recording

• escrow & interest fees: homeowners' insurance, loan interest, real estate taxes, private mortgage insurance

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Market Property

Maximizing your

home / land / investment

value

FAQ: Riverside County Planning Department

Sections of Frequently Asked Questions divided into Subject Sections

Buying land in California requires careful consideration of several key factors, including zoning regulations, access to utilities (water, power, sewage), potential building restrictions, and the overall suitability of the land for your intended use. Thorough research, including title checks and understanding property taxes, is crucial.

Key Considerations:

• Zoning:

  Zoning laws dictate how land can be used. Ensure the zoning allows for your intended purpose (residential, agricultural, commercial, etc.).

• Access:

  Consider access to the property, including roads, utilities (water, power, sewage), and any easements that may affect access or development.

• Building Restrictions:

  Investigate any building codes, permit requirements, and restrictions on building size, height, or type.

• Title Issues:

  Verify the property's title to ensure it has a clear and legally valid ownership.

• Property Taxes:

  Understand the property tax implications, as they can significantly impact the long-term cost of ownership.

• Financing:

  Secure financing options, including pre-approved loans, as this can influence your budget and purchasing power.

• Location:

  Consider the location's proximity to amenities, schools, and other relevant factors, as well as potential natural hazards like wildfires or earthquakes.

• Environmental Factors:

  Investigate potential environmental concerns, such as soil quality, water availability, and potential for flooding or other natural disasters.

• Future Development:

  Assess the potential for future development on the land and how it might affect its value and usability.

“The best investment on Earth is earth.” —Louis Glickman, real estate investor and philanthropist

In real estate, every property has a story;

it is just up to us to sell it.

LAND

“Buy land, they’re not making it anymore.” – Mark Twain

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