Tips on Buying Real Estate in SF East Bay Area California
The San Francisco east bay area is one, if not the best, of numerous options for house hunting if someone plans on moving to San Francisco.
The lively communities of Oakland, Berkeley, Piedmont, Walnut Creek and other neighborhoods combine the advantages of a major city — including a variety of dining, nightlife, shopping, sports, and entertainment opportunities — with the opportunity, under some conditions, to get more houses for your money.
First-time homebuyers, no matter where they search, are bound to make a few mistakes. But here in the hyper-competitive Bay Area, where even tear-downs attract multiple over-asking offers, only one small misstep can get an inexperienced buyer out of the race.
With all these reasons being stated, it is very essential that the decision-making is on point. A small amount of pre-home buying preparation and some local knowledge can help transform that dream into reality.
Before you hit those open houses, collect your financial documents in what we call the Green File. Then meet the lender to learn what you can afford and get pre-approved.
Next is to have a licensed realtor with a deep knowledge of our unique East Bay and greater Bay Area real estate market, and ideally someone who specializes in helping first-time homebuyers and making the process easy to comprehend.
One should determine exactly what the budget is and set the ceiling for the loan. Buying a home can sometimes be an emotional process; having clear spending limits can make sure that a home you 're in love with makes financial sense as well.
Home buyers are always reminded that every property is not perfect but could still be the best option for them. They are also entitled to hire experts for pest, roof, foundation and other specialized inspections even if the potential future home is new.
Closing costs are those related to purchase and sale, such as taxes, title insurance, assessment, recording and lender fees. We recommend that homebuyers in the Bay Area be prepared to pay about 3% of the bid price.
Lastly, do not get emotionally attached to your prospect house until the deal is closed. Clients should brace themselves for possible hiccups that might get in the way to close the deal. Know that your heart could be broken once, twice, or three times before you win.