Buying or selling a home in San Pedro? Bloch & Hoskins Real Estate can help.

Buying a home is a stressful event for a lot of people, but it isn't very complicated with a little up-front planning. I like to give buyers a road map of the entire deal so they'll understand exactly what they can expect. Below are my nine steps to purchasing a home. When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer questions you have about this information.

Step 1 – Prepare to buy a home
There are plenty of things you should contemplate prior to beginning your home search. When you start your search, you'll want to form a list of features you need, get a feeling for what school districts you want to live in, and begin working on your budget. Keeping your mortgage payment less than or close to 30 percent of your monthly income is a good rule to follow.

Step 2 – Get in touch with a real estate agent
This is where I can help. I'd like to set up a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll talk about everything from neighborhoods, school districts in the San Pedro area, the mortgage and housing industries, to any other economic factors that may potentially affect your purchase today or in the future.

I'll also help you begin the loan process. There are some excellent mortgage professionals in San Pedro, and I work with a lot of them, so you're in great hands. They'll assist you with determining which kind of loan is best for you and help you get qualified.

Step 3 – Start your home search
After we meet, I'll begin looking for available homes on the market that meet your needs. I'll get a sneak peek of most of the homes and throw out the duds, and then we'll book appointments to tour the houses whenever it's convenient for you.

When we tour homes, I'll point out positive features, as well as negative ones. I'll also ask you about things you like and don't like. It's pretty common for buyers to update their must-have list as we view houses and some features become far more crucial than others. If that's the case, I'll search the listings once again and trim it down to the house of your dreams.

Step 4 – Understand the market
My understanding of the San Pedro housing market is a leading factor in your house search. I'm conscious of all the neighborhoods and school districts, and I'll communicate which districts are "hot" and warrant immediate action and the ones that are "cool" and allow for more examination.

As we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be on guard and make sure you ask plenty of questions, as any REALTOR will tell you they comprehend the market. If it appears they don't know everything, just call me at (310) 519-3899 or e-mail me at , and I'll be glad to answer any questions you may have. My market knowledge will keep you a step ahead through the entire process.

Step 5 – Find the house you've been waiting for
I know we'll find the home of your dreams in the San Pedro area. When that happens, I'll carefully develop your purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as getting financing, carrying out the home inspection, and a clean title.

Upon sending in your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is most often put towards the closing costs. If the offer is accepted by the seller, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer, and it's very common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to take the counter offer, propose our own counter offer, or reject the seller's offer and move on.

Market conditions will play a role in how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And at the end of the day, we'll create a contract that works well for you.

Step 7 – Secure a loan
Upon completing the deal, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, this shouldn't take much time at all, but you'll need to stay in close contact with your mortgage lender. And I'll take care of all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of receiving your application. The estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if everything looks adequate.

Then we'll close on your home. This will most often happen at a title company or escrow office and is often a smooth and relaxed event.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, be sure to call me at (310) 519-3899 or e-mail me at .