| Orange County CA. is one of the most desirable | | | | locations, and price differentials of each Condo. Plus it's |
| counties in the country to call home. With the | | | | an opportunity for your real estate professional to find |
| wonderful year round moderate weather, beautiful | | | | out exactly what you do and don't like in a Condo. If |
| coastline and beaches, high paying local job market, | | | | after a month or two, you haven't found that Condo |
| and numerous local recreational choices, Orange | | | | that inspires you to take action, it may be time to |
| County real estate has been in high demand for many | | | | re-evaluate your search parameters and make some |
| years. Due to this strong demand and limited supply of | | | | adjustments such as: Number of bedrooms, 1 or 2 or |
| land, the cost of lots to build on has reached extremely | | | | No garage, add some other cities, change the year |
| high prices. With the Median asking price of a | | | | built, condition, or possibly increase the price a little bit |
| detached home in Orange County now standing at | | | | with a different loan option from your lender. |
| about $804,000, buying a more affordable Orange | | | | Step 3 - The purchase offer stage. Here is where an |
| County Condominium is a great alternative to a more | | | | experienced Realtor really comes into play, for a good |
| expensive detached home. The process of buying a | | | | Buyer's Agent may save you several thousands of |
| Condo can be broken down into four basic and very | | | | dollars. Make sure you review with your Realtor the |
| important steps. | | | | comparable sales and homes currently for sale in |
| Step 1 - Get pre-qualified for a loan. This process is | | | | nearby Orange County communities to evaluate if the |
| often overlooked but very important. The pre-qual | | | | seller is asking a fair price. If it seems that they are |
| letter accomplishes three things. One, it tells you how | | | | asking a premium, where non is justified, don't be afraid |
| much the mortgage bank will loan to you, which added | | | | to make a lower offer. All the seller can do is say no, |
| to your down payment, will determine the maximum | | | | but most likely you'll get a counter offer. On the other |
| price you can pay for a Orange County Condo. Two, | | | | hand, if the asking price seems low compared to |
| the pre-qual will also give you a very accurate | | | | comparable properties, then don't look a gift horse in |
| estimate of your monthly payments, so you can | | | | the mouth and have your Agent immediately write up |
| determine that is something you are reasonably | | | | a full price offer. Step 4 - The Condo investigation |
| comfortable with. Finally, the pre-qual letter will bring | | | | process. A good Buyer's Agent is also valuable at this |
| legitimacy to your purchase offer when presented to | | | | stage. Here, you will be reviewing many documents |
| the seller of the Condo. | | | | from the seller which discloses details of the property |
| Step 2 - Before the Condo hunting process begins. It's | | | | to you, which you'll review with your agent. An |
| always a good idea to obtain the services of an | | | | appraisal will also be conducted so as to insure that a |
| experienced and professional local Realtor to work | | | | neutral third party professional agrees with the |
| with at this stage. Ideally, the real estate agent will | | | | contract price. Another important item, is hiring a |
| make use of modern day technologies. You'll also | | | | professional and local Orange County home inspector |
| want to work with an agent that works a lot with | | | | who'll investigate the current condition of the Condo |
| Buyers, versus the local neighborhood Listing Agent | | | | and deliver to you a written report for your approval. |
| specialist. Once you have found this Buyer's Agent, | | | | Last but not least, is you be given numerous |
| have them set you up on an email Alert service which | | | | documents that pertain to the Condo home owners |
| will send you an email when a new listing comes on | | | | association. Here you want to review with your agent |
| the market. Although it sometimes happens, don't | | | | to see if there are any pending or current lawsuits, the |
| expect to find the perfect Orange County Condo on | | | | funding of the association, inspect the 12 months of the |
| the first outing. The first 5 to 10 Condos you'll preview | | | | board of directors meetings notes, and other such |
| are an education process for you to familiarize | | | | details. |
| yourself with the pluses and minuses, features and | | | | |