You have been seriously considering buying a home in Orange County CA and after a long and thorough search, you finally find your ideal dream home. You and your agent go back and forth with the seller and everything seems to be going fine. In your mind, you might as well be the new owner. But then something goes wrong.
Suddenly that sure thing isn’t so sure anymore and you find yourself back at square one, and while everyone wants the home buying process to go as smoothly as possible, these sort of setbacks do happen. As you head towards making an offer, it’s time to consider how your pending home purchase could potentially fall apart. It’s important that you keep your expectations realistic and work proactively to help the whole process along.
Selling Your Orange County CA Home while Look for a New One
If this is not your first time buying a home in Orange County CA, you probably have to deal with selling your current residence while you look for a new one. This is a tricky proposition, to say the least, especially when it comes to timing. You can never know for sure when you’ll be able to sell your home and this means your home might not sell soon enough to finance your next purchase.
Options like bridge loans and home-equity credit can help out in this sort of situation but do involve certain risks. IT is a good idea to plan ahead and consider what you will do if you find yourself in this situation before you end up making a hasty decision under pressure.
Losing Touch with the Selling Party Before Everything is Final
Losing touch with the home seller before everything is final means that the whole deal is up in the air. You probably already realize how complicated buying a house is but you also need to remember that selling a house is also a tricky proposition. With all the paperwork and emotions involved it goes beyond your normal trip to the store.
That’s why communication is so important, you need to know how things are going on the sales side if you want to understand your own position. Working with an Orange County Realtor® is great for making sure that the deal is always moving forward as smoothly as possible.
Don’t Rely Too Much on Pre-approval
The numbers you initially get from a loan officer are not set in stone and you may end up disappointed by the number you get from the final underwriter. It’s not just that things might have been left out of the original calculations, problems can also be caused by actions made after applying for the loan. Make sure you know the terms of your loan so that you don’t accidentally violate them between the application and approval. Obviously, buying a home in Orange county CA is a serious investment. Don’t want to let it slip away by doing anything to jeopardize your financial prospects.
Letting Go of A Home Can be a Big Thing
Last but not least there’s the chance that the seller will get cold feet. Letting go of a home can be a big thing, and the gravity of the commitment rarely sets in until it’s time to make everything official. This is one of those cases where the situation is out of your hands. As a home buyer, you really have no control over the emotions happening on the other side of the deal and that’s something worth keeping in mind.
Hopefully, you will never have to deal with any of these issues, but if you do find yourself facing one, it’s important to remember that it’s not the end of the world. If you have made a mistake or two, learn from the experience and move on. If the deal fell through because of forces beyond your control, you can go forward knowing that you’ll likely have better luck next time.
There are many more Orange County CA homes for sale for you to choose from out there, and once you walk through the doorway of your new home, you will realize that all the ups and downs were worth it in the end.
Orange County CA Real Estate Specialists for Buyers and Sellers – Call Now! 949-355-9558
If you’re thinking about selling your Orange County CA property, we have years of experience and extensive training in cutting-edge, online marketing technologies for today’s competitive market. If you are behind on your mortgage and don’t know what to do, we are experts in Orange County CA short sales.
As an investor, we have several services available in the preparation for the sale of REO’S and Short Sale properties. This includes a variety of professional sub-contractors who can do whatever is needed to prepare the property for sale. Once the property is ready, we can also help you with your specific marketing needs.
We provide Orange County CA real estate services within the following cities and communities, but not limited to:
- Laguna Beach – Emerald Bay , Irvine Cove , Crystal Cove,The Village, Crescent Bay and 3 Arch Bay
- Newport Coast – Pelican Hill
- Corona Del Mar – The Village , Spyglass and Cameo Shores
- Newport Beach – Newport Heights, Lido Island, Balboa Island, East Bluff, One Ford Road, Port Streets and Big Canyon
- Costa Mesa – Eastside Costa Mesa
- Huntington Beach
- Irvine – Turtle Ridge, Shady Canyon, Turtle Rock and Woodbridge
Give us a call today at 949.355.9558 or fill out our online contact form and let us know how we can best serve your Orange County real estate needs.
We look forward to speaking with you!
Real Estate Consultant
BRE License # 01771487
2010 Main St Suite 1250
Irvine CA 92614