A.D. CANTELMO REALTY/TONY CANTELMO
BROKER
TONY CANTELMO

A.D. Cantelmo Property Management Our Business is Property Management in Orange County California

 

  Where do you start?

 

 

  Once your offer on a home has been accepted, what is your next step? Remember the time tables involved in the purchase contract. You want to move quickly and efficiently in order not only satisfy the contract, but you want to make sure you are going to want to close this deal. The first thing of course is get your contract to the lender and make sure they understand the urgency in getting the final loan approval. Remember there is going to come a time depending on what is agreed to in the contract, when the seller is going to want you to waive your loan contingency. You need to get the loan approval as soon as possible.

 

The next thing you need to do is get your home inspection. Get that done in the first 3 days. You want to know whether you are going to move forward before you pay for an appraisal. What you are trying to do is move forward and spend your money wisely. The home inspection will be important, but don’t go crazy and ask the seller to re-build the house. When you read the inspection report, it is going to make the house sound as though it is going to fall down. Use your head and don’t over react. If the home inspection shows that it is going to cost you too much money to repair and these repairs are things that need to be done, don’t just fill out a form and give it to the owner, sit down with the owner and go over it with them. See it you can come to an agreement to either repair the problems or settle on a cash amount to be paid at the close of Escrow. Be reasonable and again, don’t let your Realtor try and be a hero. It is easy in this situation to sour the deal. If you want the home, unless the house is going to fall down, don’t let the home inspection destroy the transaction.

 

Once you are comfortable with the inspection, you want to have your Lender order the appraisal. This is going to also be a stressful period, waiting for the results of the appraisal. If the number comes in where you need it to be great, but if for some reason the number comes in low, then you need to go back to the negotiating table and try and get the owner to lower the price. This is not going to be easy, but again the negotiation is only going to be as good as your willingness to walk away from the deal. It is harder for you to do that now, because you have paid for the inspection and the appraisal, so you have around $700 out of your pocket, and you have some emotional investment. Do your best at this point, but I would not suggest taking money out of your pocket to meet the number of the appraisal. The Seller has pressure on them  and you are going to have to rely on that pressure to get them to meet the price.

 

In my business of Property Management in Anaheim Ca. I let people know that The pressure of the first 10 days in a Real Estate transaction can be immense and people can lose their composure, but do your best to remain calm and if you anticipate problems before you go into the transaction then you will be better able to handle the pressure. Think of it as an athletic event. You have practiced every scenario you can think of and are ready to handle the problems that come up.            

 

        A.D. Cantelmo Property Management Specializes in Property Management in Orange County Ca.

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What my clients are saying  

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

5 reviews 5.0 star rating 1/21/2016 I was tired of using a large management team to manage my investment property. I felt I was always on the back burner. I was recommended to Tony from a business associate, he assured me I would be very pleased. Well that was an understatement, Tony is amazing. He's above all honest and always available for my concerns. I'm not as well versed as other investors with property management and maintenance and tenant relations, Tony has been an excellent partner and has guided me through quite a bit of needed repairs and worked far beyond what was expected to help turn my little investment into quite a prosperous investment, If what your looking for is prompt return calls, honest direction and someone very knowledgeable with general contractors and real estate laws, Tony is your man. Angela

 

~ Angela

"10 out of 10 I am so Happy Since I left my old company and I joined AD Cantelmo Property Co I am stress free I live in a different state and this company watches my house and always Mr Tony Cantelmo is on top of things I really want to thank you for what you do for me and I would really Recomend this Company to any and every one Thank You again. Shawn" ------------------- "I need to trust the people I work with and I trust Tony. He stays on tops of things, communicates well, and gets things done. He not only gets things done but he gets things done the right way. Jim"

 

~ Shawn

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