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Buying a home
Mortgages, down payments, offers, inspections, escrow and closing, in the order you meet them.
1
Are you ready to buy?Readiness is about your life, your monthly budget and the cash you keep after closing, not a listing price. Use this five-part check.2
Renting or buying: compare the whole pictureRenting and buying both give you a home. The better choice depends mostly on how long you stay. See the numbers at 3, 7 and 12 years.3
What a home really costs each monthThe loan payment is only part of what a home costs each month. Here is every line, with two worked Bay Area examples.4
Preapproval and credit: what is actually checked?A letter can help you shop, but its value depends on the review behind it.5
How mortgages and loan types workSeparate the loan program, repayment length, and rate structure.6
Down payment, closing costs, and cash to closeKeep the purchase contribution, transaction costs, and remaining savings separate.7
Choose a home that fits your everyday lifeA useful search starts with a few nonnegotiables and realistic trade-offs.8
What goes into an offer?Price is only one of the promises in a purchase agreement.9
Contingencies protect a decision windowKnow what must be investigated and what changes when a protection is removed.10
Use inspections to understand the work aheadA report is a guide to condition, priorities, and further questions.11
When the appraisal and price differAn appraisal affects financing; it does not replace an inspection.12
Escrow and title: two different jobsLearn how money is held and how ownership claims are reviewed.13
How to read California seller disclosuresUse the disclosure package to ask better questions before you commit.14
Closing, recording, and getting the keysMake time for document review and verify money instructions through a trusted channel.
Are you ready to buy?Readiness is about your life, your monthly budget and the cash you keep after closing, not a listing price. Use this five-part check.2Renting or buying: compare the whole pictureRenting and buying both give you a home. The better choice depends mostly on how long you stay. See the numbers at 3, 7 and 12 years.3What a home really costs each monthThe loan payment is only part of what a home costs each month. Here is every line, with two worked Bay Area examples.4Preapproval and credit: what is actually checked?A letter can help you shop, but its value depends on the review behind it.5How mortgages and loan types workSeparate the loan program, repayment length, and rate structure.6Down payment, closing costs, and cash to closeKeep the purchase contribution, transaction costs, and remaining savings separate.7Choose a home that fits your everyday lifeA useful search starts with a few nonnegotiables and realistic trade-offs.8What goes into an offer?Price is only one of the promises in a purchase agreement.9Contingencies protect a decision windowKnow what must be investigated and what changes when a protection is removed.10Use inspections to understand the work aheadA report is a guide to condition, priorities, and further questions.11When the appraisal and price differAn appraisal affects financing; it does not replace an inspection.12Escrow and title: two different jobsLearn how money is held and how ownership claims are reviewed.13How to read California seller disclosuresUse the disclosure package to ask better questions before you commit.14Closing, recording, and getting the keysMake time for document review and verify money instructions through a trusted channel.Owning a home
Property taxes, insurance, maintenance and equity once the keys are yours.
1
California property taxes and Proposition 13Understand assessed value, the base tax, and charges that can make a bill larger.2
Insurance, wildfire, flood, and earthquake riskCheck availability, coverage, and deductibles early—then review them as an owner.3
Build a maintenance plan and repair reservePrepare for ordinary wear and occasional large expenses without relying on one rule of thumb.4
Equity, HELOCs, and home equity loansEquity is value minus debt. Accessing it can create new costs and obligations.
California property taxes and Proposition 13Understand assessed value, the base tax, and charges that can make a bill larger.2Insurance, wildfire, flood, and earthquake riskCheck availability, coverage, and deductibles early—then review them as an owner.3Build a maintenance plan and repair reservePrepare for ordinary wear and occasional large expenses without relying on one rule of thumb.4Equity, HELOCs, and home equity loansEquity is value minus debt. Accessing it can create new costs and obligations.Selling a home
Preparing, pricing, comparing offers, escrow and what you keep at the end.
1
Prepare your home and your paperwork to sellPlan the work, records, and move before deciding what to spend.2
Price and present a home with a clear planUse relevant evidence and a written marketing agreement instead of a promised sale price.3
From sale price to seller net proceedsThe amount you receive depends on payoffs, negotiated costs, credits, and adjustments.4
Compare offers beyond the headline priceConsider the money, obligations, and likelihood of completing the transaction.5
Seller escrow, moving out, and the handoverCoordinate your obligations through recording and the agreed delivery of possession.6
Home sale taxes: gain is different from proceedsUnderstand the basic framework and collect records before tax time.
Prepare your home and your paperwork to sellPlan the work, records, and move before deciding what to spend.2Price and present a home with a clear planUse relevant evidence and a written marketing agreement instead of a promised sale price.3From sale price to seller net proceedsThe amount you receive depends on payoffs, negotiated costs, credits, and adjustments.4Compare offers beyond the headline priceConsider the money, obligations, and likelihood of completing the transaction.5Seller escrow, moving out, and the handoverCoordinate your obligations through recording and the agreed delivery of possession.6Home sale taxes: gain is different from proceedsUnderstand the basic framework and collect records before tax time.