Real Estate with Angela Carpio

Is home inspection required in the State of California? The answer is NO. You are not required to hire a home inspector in order to purchase a home whether it is pre-loved or new construction.  There is no law or regulations requiring you to do so. Having said that, it is HIGHLY -- HIGHLY -- HIGHLY, HIGHLY recommended that you do. Typically, under the California Purchase Agreement and Joint Escrow Instruction (purchase agreement), investigation of property is one of your contingencies. A general home inspection is important to understand the condition of the home. If you're buying a $500,000 home, you would want to know if the property you are buying has some serious issues or even if it is in need of a significant repairs in the future.  If an inspection reveals material defects, you can either use that to go back and negotiate with the seller, for credits or repairs, or you can back out of your offer, without penalties, within a certain time period of course. Your agent sho...

If your new year's resolution is to own a new construction home this 2023, here are reasons why you should.  1. It is what’s best for you and your family.   So many people are so focused on the rising interest rate that they do not look at the overall financial picture before making a decision. I had a buyer reach out to me and told me they were afraid of the interest rate but they couldn’t take the toxic environment of living with their family member. They’re main goal is to get out of that situation and own their home so that they can do whatever they want. I referred them to a lender who advised them to work on their credit score, pay off some debt and if they’re comfortable with the monthly payment, to go for it. And they went for it. They could not be happier. When the interest rate went down, they refinanced and got their monthly payment lowered. So, do what’s best for you and your family. Don’t take your agent’s word for it, reach out to your financial advisor o...

A mortgage broker is a middleman working on your behalf to help you find the right loan that fits your situation. Mortgage brokers works with multiple lenders. They make your life easier because they do all the leg work for you. Finding the right mortgage broker is like finding the right lender. So, how do you choose a mortgage broker?   Ask your friends and family for referral. Most likely, you already know someone who owns a home and likely, they worked with a mortgage broker. Ask them who they worked with to get their loan approved. Ask them what they learned along the way, things to avoid and what they would’ve done differently. Who better to ask than those who’s already been through the process? If they hate a certain mortgage broker, they would tell you and if they love them, you’ll know too.   Shop around. Request loan estimates from multiple lenders. The loan estimate spells out the rates, estimated monthly payment, fees and closing costs. Different lenders will quote ...