It’s Offer Time- What’s next for buyers and sellers?
So you found that perfect home and It’s Offer Time. What’s next for the buyers and sellers process?
Well, first we negotiate until we have ab agreement on price and terms. It’s Offer Time with lot’s of variable to consider other than price including:
Length of Escrow
offer price financial terms
what’s does the sale include?
is there a home warranty?
contingencies of the sale including loans, home inspections and seller disclosures
closing and terms of possession
Once both parties are satisfied with the terms, then we sign off on everything creating a Contract and open Escrow.
Now the real fun begins. Escrow is there to ensure the terms of the contact are fully met. But there’s more. We now begin to go through the paperwork and inspection process. A home inspection comes next and the buyer and seller then get to further negotiate any major defects in the home- usually they will be health and safety related but can also include certain other operational defects. This can be tricky but usually the two parties work through their issues and reach an agreement regarding repairs or a credit. Note that many cosmetic defects are not a consideration of a home inspection.
This is an actual photo from a home inspection
Concurrently the buyers are provided with disclosures galore. Hazard disclosures, seller disclosures, HOA documents (if applicable) etc. It’s a lot to consider but important to ensure that you are buying what you think is a good home. This is indeed a mine field but with good guidance from your Realtor, it can be easily navigate and understand this process.
It’s Time For Contingency Release
Then at 17 days, we should be ready to release all inspection contingencies provided everyone has done their respective job which is usually the case. Buyers and sellers are encouraged to read all documents or get legal help to do so.
Now we wait for the lender to complete their work. We have 3 more days to get the loan approval from the lender. In the case of a cash sale, we can expect to close at anytime both parties agree to do so or simply wait for the agreed upon closing day.
Escrow at this time will be finalizing the numbers and provide the buyer and seller with estimated closing costs and the buyer only with information on the wire funds transfer as outlined in the contract. Also, last minute paperwork is wrapped up so that once all the ducks are in a row, Escrow will schedule the recording with the county. Shortly thereafter the county records the sale and the terms of the contact are complete. At this time the buyer’s agent gets the keys and welcomes their clients into their new home.
For more information, please see This article from the California Bureau Of Real Estate for more information.
Treat Those Callers Well- Make Them Feel Important- Find Success- Find A Palm Springs Realtor
Did you begin your search for a Realtor on the Internet? And did you Find A Palm Springs Realtor?
Have you ever had one of those calls come in from someone who found you on the Internet? And maybe they sound a bit unsure or they may be a wanting a small less expensive property? How did you respond to that call? Did you hurry them off or maybe not return the Voicemail?
Why Is Palm Springs California The Best Place For A Retirement Vacation Home?
Time For An Update:
This past week, I attended the State Of The City event at the Convention Center. Over 400 interested citizens were there with me as we looked at out progress of last year and then looked forward to the good things on the horizon.
So here are the highlights of what I heard:
The economy couldn’t be better. Tax revenues up, airport arrivals up; hotel room nights and activity is off the charts.
The downtown project will begin to see things go vertical very soon. And the Kimpton will be open by October, 2016. How very exciting.
Most of the subterranean work for the entire parcel is about done.
The first tenant to announce their lease is West Elm.
The new Trolly is a HUGE success with 35,000 riders so far. (2/20)
Lots of new bike lanes coming and more street resurfacing than ever.
New construction in other areas is off the charts. New businesses, hotels and restaurants abound.
So, yes, the time is right here in Palm Springs. We are not only back, we are on course to become the a top-tier vacation spot. The demand for all types of rentals remains very strong meaning if you have a rental, it is booked. And with so many events to choose from, this place is FUN!
Give us a call if any of this makes you want to buy your next home. Or if you want to move up, let’s talk!
Easy, It’s all about location, affordability, weather and lifestyle!
Palm Springs got its vacation/get-away chutzpah for being a playground from the Hollywood set back in the 40’s, 50’s, 60’s and beyond. The stars and the movie moguls came here for fun, sun, relaxation and to get away from the Hollywood spotlight, the city mayhem and the Smog not to mention we are actually sunnier than LA!. What grew up from that was what we have today, this wonderful mix of hotels, resorts, shopping, eateries, homes and condos all playing to the crowd who wants to play.
We Have the Location
Our location makes us ideal for buying a vacation or retirement property. Palm Springs is 2 hours from Los Angeles, a bit more from San Diego and we’re a half day drive from Los Vegas and Phoenix. Then there’s the California coast and all its beauty…..What a deal!
Palm Springs is Affordable
It’s all about affordability, correct? Right now in this place and in this time, there is no better time to buy here or in any of the desert cities. The prices per square foot are at an all time low and won’t get any cheaper. And if financing is a must, with rates at 4-5%, how good does that get?
We’ve Got The Weather
Palm Springs sports about 330 days of sunshine per year and our average rainfall is about 5 inches per season. Like to live outdoors a lot? This is the place. Now mind you, summer is hot and for some, it’s too hot but many find it OK and even relish the heat. The winter months are warm, with daytime highs often between 73 °F and 86 ° and corresponding nighttime lows of 50°F to 60°F while the coolest days tend to average from 62 °F to 71 °F and corresponding nights falling to the mid 40s°F. Summer often sees daytime temperatures between 106 °F and 112 °F, with overnight lows ranging from 77 °F to 90 °F. The mean annual temperature is 74.7 °F. There are 180 days with a high reaching 90 °F or more.
And Then There’s The Lifestyle
We’ve got the life and it’s all about the outdoors. Many of us live here for the outdoor lifestyle. Golf, Tennis, hiking, biking, walking, running, swimming, sunning, entertaining and even outdoor shopping such as El Paseo or our Certified Farmers Markets. WOW! What more can you ask for? And I’m sure it’s not a complete list either. Want more? Palm Springs has one of the best and finest assortments of eating establishments anywhere. We’re not talking about the usual corporate schmaltz. Nope these are all fine independently owned serving food of all prices ranges, types and styles; something for every palette too.
So there you have it. Now your next step is to talk to us about buying you home tight here in our Paradise called Palm Springs California.
Welcome To The Uptown Art District
Visitors love to watch this sculpture in motion
This sculpture is such an indication of our heritage
Visitors to the Courtyard shops are greeted by many fine sculptures
I call this guy The Rusty Man sculpture but he’s really Don Quixote
Enjoy Palm Springs
Want more information about the Desert Cities?
Buying or Selling Palm Springs Real Estate?
Buying or Selling in today’s real estate market is a challenge and a process that is easily accomplished with the help of a Palm Springs real estate agent focusing on the neighboring desert cities. You will need an expert who has lived in the area, knows the lifestyle and the unique housing market.
The market for real estate in the desert is alive and the values are exceptional especially for those who are looking for an ideal investment or a vacation/retirement property. We have many Palm Springs real estate properties available for every need, budget and amenity list.
Buyers: Are you searching for your primary residence? We have a variety of Palm Springs homes for sale and have what it takes to get you settled in the neighborhood of your choice.
Selling your home? Your home selling experience will be one that is easy, friendly and professional. Our mission is to offer outstanding service while utilizing the best practices and Internet technology available. We are totally connected to the Internet and will market your home on every venue available! Results is what you expect and results is what you will get.
If you are planning to buy Palm Springs investment property, or property in the surrounding area, we have the staff partners who will help with any project or property management tasks while you are away. We have helped with the small properties all the way up to the multi-million dollar projects.
I’m not here just to sell you a home. I’m here to help you find the dream home you’ll love then make it yours!
For more information on how we can best serve your Palm Springs Real Estate and surrounding area needs, please fill out the online contact form or give us a call at 760-413-2871.
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3 Things You Should Know Before Buying a Vacation Rental
Owning vacation rental property can be a solid investment and a great source of income if handled well. But, there can also be downsides. Avoid the pitfalls by using our vast experience in this area.
Palm Springs Vendors and Services List for New Home Owners
We get asked a lot about recommendations for vendors, handyman, services, loan companies, insurance agents and more. So here is our list of Palm Springs Vendors and Services List for all Home Owners or anyone looking for some help around the house.
