Jeet Sangha

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1. Save for Your Down Payment

Bakersfield, CA is a great place to invest in a first home because it’s much more affordable than other cities in the Golden State. Are you a first time home buyer looking to buy a property within Bakersfield, CA or the surrounding area? You’re in luck! At Authentic HomeBuyer, we not only offer cash for unwanted properties, we also recommend tips to first time home buyers so that they can plan smarter, not harder.

Learn How Much You Need to Save

Before you start saving, you should know how much you need to save first. Sit down with a mortgage lender who can tell you how much of a mortgage you qualify for. The general rule of thumb is that your housing expense shouldn’t be more than 28% of your monthly income.

Once you know how much you need to save, start setting aside every extra dollar you can either from work bonuses, tax refunds, gifts, or savings.

The standard down payment for first time home buyers is just 20% of the total home cost. However, if you cannot save that amount, you can always look into first time home buyer programs that will allow you to submit a down payment on a home that’s as low as 3%.

2. Determine Your Timeframe

Let’s say you want to buy a home in the next five years and let’s pretend your first time home costs about $500,000. Take 20% of the total home cost or your down payment ($100,000) and divide that by 5. That means you should try to save about $20,000 a year until you reach year 5.

Naturally, the shorter your timeframe is to buy your first home, the higher your annual savings goal needs to be.

Since saving thousands of dollars a year can be difficult for many American families, especially in Californa which is the second most expensive state to live in the nation, you should separate some room in your budget to ensure that your goal is reasonable. For some folks, that means earning additional income, cutting back on expenses, or a combination of both.

Unless you’re a natural saver, you should streamline your savings procedure by investing in a kind of payroll savings plan. Similar to your 401(k) plan, you can allocate some of your monthly earnings into a savings account dedicated only for your first time home down payment.

3. Check Your Credit Reports

To qualify for a mortgage in 2019, you need great credit and simply knowing your credit score is not enough to pass. You should routinely check your credit reports so that if you come across any issues, you can dispute them early on. To improve your score in preparation for a mortgage, delay opening a new credit account as that temporarily lowers your score as well as pay off as many debts as you can without hurting your savings.

4. Think About The Type of Home You Want

Many first time home buyers shop for single-family homes. However, it doesn’t hurt to look at other home types too. For example, townhouses and condos tend to be smaller but require little to no maintenance. However, before you make an offer on a condo or townhome, always check the HOA cost and the HOA rules, especially if you want to budget a set amount of costs per month and if you have pets or children.

5. Consider Closing Costs And Insurance Fees

Looking at a $235,000 price tag or the average cost of a home in Bakersfield, CA can be intimidating at first. We hate to bring this up but when you buy your first home, you’ll end up paying for more than just the total purchase price.

Closing costs can include property taxes, title insurance, transfer taxes, HOA fees, escrow fee, legal fees, and other expenses. They typically run 2% to 5% of the sale price.

On a home that costs $275,000, closing costs could be as much as $13,000 which is the price of a car in some cases! Remember to set aside as much extra money for these additional costs as you can and always plan in advance.

According to the American society of Home Inspectors, home inspection is,

“A documented, professional opinion of a home-based on a visual evaluation and operational testing of the home’s systems and components to determine their current condition.”

It has been considered as one of the most important part of selling and buying any property. While it affects the value of your home, it is equally useful in defining the scope of negotiation. However, sometimes the inspection results can be full of surprises. For this it is important for you to have a brief knowledge of the process and consequences. Get started here:

Know the Process…

Firstly, it is essential to understand that a home inspection puts everything out on the table. In case, the inspector finds some issues with your house on sale, he will notify the potential buyers about the things that need to be fixed. This means, both good and bad will be clear. In case, you are a buyer, it works well for you. But for the seller, the result might not be favorable always. Reason being, it can represent the list of areas where you need to work on. Basically, it will present the clear picture of behind-the-scenes condition of the property.

Prep for the results…

For those who are looking forward to sell their home, inspections can be scary. Whatever you see on the surface might turn out to be entirely different from what an inspector viewpoint. Hence, you have to be prepared for the worst and hope for the best. It is better to discuss the issues with the buyer in advance before the inspector finds issues and report. Hiding the same can lead to undesirable consequences.

You have options…

What if the inspector uncovers issues in your home? Now you have two options. While the first is to fix the issues yourself, on the other hand the second one is to notify the buyers of the issue and bargain of a closing deal. Of course, there are pros and cons of both the options.

Want to escape from this trouble? You can easily walk away with the best cash value for your home by selling it in as-is condition. Yes, neither you have to spend money on inspections and repair, nor you have to wait for the deal to close. Look for an investor like Authentic HomeBuyer. Regardless of the condition, you can sale your homer now.

Do you know a real-estate agent charge you 6% commission?

This means for a $250,000 home, you have to pay off $15,000 to your agent. Yes, the size of this fee is really huge. Now you must be thinking to be your own seller’s agent, right? It is a perfect idea and just that you need a little more preparation.

If you are planning to be part of FSBO (for sale by owner)process, you have to be extra careful. From choosing those expensive listing for your home on multiple sites to putting it on local listings, there will be so many things to do. But before you start reviewing those websites and other resources, you must understand what you’re getting into. To help you get top dollar for your home, here are listed some helpful.

Prepare it for sale: As you are going to do it yourself, the first step to make the process easy is by making your home sellable. You need to understand that people don’t want to see your clutter. The one who will be visiting it would love to see the clean rooms, and if it has anything which negatively detracts, it can affect your sale. Not only your rooms but also kitchens and bathrooms have to be clean and appealing. Hence, you can be thinking of renovating if your budget allows.

Pro tip: There is no need to paint everything. You can just fix the small patches and make sure that it appears clean.

Ask for a reasonable price: Once you are sure that your house appears at its best, the next task is to set a realistic price. If required, you can consult the help of an estate agent. The other alternates include making market research to know about the prices, inflation, and proper valuations. Thanks to the power of the internet that you can conduct research online and use some impactful tools to evaluate property rates.

Pro tip: You can check on the sold price history and for the future pricing changes.

List the property: Now you have to take care of advertising, pricing, and even the viewings. You can pick some good “for sale by owner” websites and follow these steps. 

  • Write a description: The price is already set and now you’re ready to show buyers your property. The first step includes writing a few lines about your home. It should be something to help entice buyers through the door. You can mention the interior design skills and much more. Just avoid lengthy narratives.
  • Add best photos: The images will play a major role to market a home. You can promote property by adding is some of the best pictures of your home. It can be something showing the fixtures and fittings. Or it can be about the beautiful living area, whatever you like to present.
  • Advertising: Besides, those home selling websites you can look for some other options. Facebook and Twitter can be helpful to reach a mass audience. And you cannot overlook the traditional methods such as advertising in your local paper.

Following the above stated tips, you can be confident enough that you can sell your home without an agent. After all, you have to save the commission. However, this will call for lot of homework and can be very frustrating at times.

Want a safer option?

Look for an investor who can buy your property in as-is condition. The best part is they don’t charge any commissions, meanwhile providing you the cash in minimum span of time.

If you are about to sell your home and you haven’t cleaned it properly, you might easily miss a sale. Ginger Brokaw, a senior vice president at Town Residential real estate in Manhattan states that getting your home as clean as possible is something of great importance. She added to her statement, “It really does pay off.”

Whether it is an old property or a newer one, staging it in a way to make it appears as a house to live in. will be helpful. The family, an individual, or the couple, visiting your property should be able to see themselves living there. Even though it sounds easy, but often home seller miss on such an essential point

So, if you haven’t planned to deep clean your house yet, it is the right time to give it that top-to-bottom cleaning. It will help to maintain the value of your home, meanwhile appealing the buyer immensely. Below you will find a list of overlooked areas which are meant to be cleaned thoroughly in order to increase the value of your space.

  1. Clean mold and mildew: Bathrooms are not to be missed! Especially the mold and mildew formation there has to be treated. For this, you can use liquid household bleach or cleaners. While bleach will remove mildew stains, you can count on a good, non-streaking cleaning product for doors and mirrors. Rest, a regular cleanup including using a small squeegee on shower walls, rinsing the tub after bathing, drying faucets and handles, can be done.
  2. Clear the heat vents and registers: It is common for dirt and dust to build up in the heat vents and register blades. But don’t be surprised to find coins and buttons in the vents while you are cleaning. These serve to be great receptacles. So you need to unscrew the vent covers or you can pluck them, remove the foreign objects, and vacuum it. Later you can clean grates with a damp cloth and screw it back.
  3. Shine out hardware: What about those handles, door hinges, and cabinet knobs? To deep clean them you have to wipe them with a damp microfiber cloth thoroughly. Also, you must polish them with brass cleaner. For glass or stainless steel knobs you can use dish soap to make them shine
  4. Fix the light fixtures: If there are bug burials around your overhead fixtures, make sure you wipe them off. Be careful and turn off the lights before you start. Remove the fixture covers, dump out flies, and then wash it with lukewarm soapy water. Don’t forget to dust out those bulbs. And let dry everything thoroughly before placing them back.
  5. Carpet care: Buyers are attracted towards the carpet area as it makes your home look warmer, inviting, and spacious. Plus, it tends to reduce the noise levels. So it has to be cleaned. Even if you aren’t planning for a professional carpet cleaning, do it yourself with some easily available equipment. Start with the farthest corner and work backward toward the door, to avoid any footprints.

Aren’t these easy?

And the best part about these tips is that you don’t have to invest a large amount of time or money to clean these areas. Just a weekend would be sufficient to make these parts of your home sparkle or you can also hire a professional to deep clean your house.

Have you been following a myth that winter might not be the best season to sell your home? Then you need to check out the Zillow’s report which stated an improved 9.6 out of 10 rating and a revised forecast of 8.3% price growth for California.

This means, you really don’t need to wait for‘Spring’ to put your home on sale. Certainly, there are weather conditions which seem likely a culprit for people being less inclined to go looking for homes. But that’s not the only case. These conditions can work in your favor too. Have a sneak peek at some of the reasons to start with the selling process right away:

  1. More committed buyers: Though there will fewer potential buyers in the market, yet those who are looking to buy a home will be more likely to make a purchase. So, it is a clear win-win.
  2. Fewer choices make property desirable: Now just think of yourself as a home buyer. With only a handful of houses available for sale, you will be left with only limited choices. And this increases the odds of successfully selling a home.
  3. You can ask a higher price:This one is connected to the above two. As there is less competition for you, putting forth a high price will not be a problem. In fact, several studies have shown that houses tend to sell at slightly higher than average during colder days.
  4. No yard work required: Generally, to add curb appeal people spend a good amount during the spring and summer months. As the buyers search for beautifully landscaped properties, you need to invest a reasonable amount for the upkeep. But as in winter most of your plants will be dormant, you can skip off the yard work.
  5. Faster selling process: Due to reduced inventory in the winter, you are likely to end with a faster sale. On the contrary, in the spring market is flooded with competition. Buyers will take more time in searching for more number of properties.

Lastly, if you still find any kind of difficulty in selling your home, just get in touch with Authentic HomeBuyer to end the deal for fast cash. Get in touch for more details.

7 Pros & Cons for Selling Your Home For Cash to an Investor.

To make an informed decision, it is important to learn the pros and cons of selling to a real estate investor.)
Signs like “We Buy Your Houses for Cash” must have caught your attention, especially if you are looking to sell your home.

Or perhaps you’ve approached a real estate investor who buys houses for cash.
But if you are dealing with those investors for the very first time, here are the things that are likely to bother you…
Who are these people? What kind of business is this? Are they genuine? Or there’s the catch?
To make an informed decision, it is important to learn the pros and cons of selling to a real estate investor.

What are the Pros to Sell a Home to a Real Estate Investor?

Fast Closing:
This is the key benefit of working with real estate investors. They buy your home with cash and close the deal right away within a week. This is quite beneficial, especially if you are looking to sell your home quickly. Mostly the sellers walk away with cash only a few days later.
This way, you avoid costly marketing, open houses and unnecessary delays due to picky buyers.

Selling “as is”:
The investors buy all houses, whether it’s ugly, foreclosed or haunted. Therefore, you don’t have to spend on costly repairs and expensive improvements.

Flexible Payment Options:
You can make a payment via plenty of options like certified funds, cash, and pre-scheduled cash payments. It lets the sellers find a method that meets their needs.

No Risk of Sales Falling Through:
A cash sale also eliminates the potential risk of losing the buyers at the last minute when they can’t make for a loan. Once the cash is in your hand, there’s no backing out or last-minute nervousness. Such cash sales are closed within 1-3 weeks compared to about 4-7 weeks on a traditional sale.

And there are Some Disadvantages as Well…

It is Not a Licensed Business:
The investor may not be a licensed professional.
So you don’t know about the person or the company willing to buy your home. Some investors may be a corporation, but some are individuals acting as a real estate agent. It may bother you as you are not aware of their motive behind the purchase. Do they want to buy your property to resell it for more dollars? You want to make sure that they are not a scam artist. To avoid the risk, search them online and ask for references.

Lowball Offers:
Real estate investors buy the property “as-is”, meaning that they have to pay closing costs, holding costs and taxes. Those costs are often factored into their offered price for your home. So the investor is not likely to pay according to the market value of your home. Usually, they aim for 60-80% of appropriate market value.

Should You Choose a Cash Buyer to Sell Your Home?

So you must have seen both sides of a coin.

Selling a home to the investor is beneficial for a motivated seller. As an added bonus, you don’t need to spend money on home improvements as they buy the house as-is.

We also mentioned some cons associated with this process. You can avoid them by working with a reliable and experienced cash home buyer.
Therefore, make online research and ask for references to make sure that the buyer is not a fraud or the one with an ill motive.

And you don’t need to go anywhere. We at AHB buy houses in any conditions in California without charging you any commissions or fees/obligation. Contact us now to get your home sold quickly for cash!

Hello, and thank you for stopping by. My name is Jeet and I am the owner of Authentic homebuyer. I have always been a goal-driven and dedicated individual with an entrepreneurial spirit and a love for learning which led me into establishing Authentic homebuyer. Establishing this company not only provided me with a new opportunity but also allowed me to marry my existing passion for real estate with my love of people.

Since then, I have had the privilege of meeting clients and colleagues from all walks of life and it gives me great joy to provide my clients with solutions based on their individual needs. I take pride in the fact that my company continues to uphold to the four core principles upon which it was founded: honesty, integrity,
simplicity and transparency in every transaction, every time.

Authentic homebuyer is here to provide solutions to clients who need to sell their home fast! Don’t find yourself getting lost in the shuffle with big-box homebuyers. I am a local small business owner and have invested the time and energy into learning the local market as well as local resources to provide you with a seamless process from start to finish. My goal is to provide you with an offer in your hands within 24 hours and cash in your pockets in as little as 7 days or less.

Contact me today to see how Authentic homebuyer can help you!

Get Your FREE Fair Cash Offer!

All offers are made based on the information you provide so it is very important that you fill out the form completely and accurately, so we can provide you with the most realistic purchase price for your home. If you have any additional questions regarding the process or to discuss your home sale, feel free to call me on my cell at 661-505-9005.