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

Buying a home is intimidating for most people. However, with a bit of up-front planning, it isn't very complicated. So they understand exactly what to expect, I will supply buyers with an overview of the entire deal. Below are my nine steps to purchasing a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.

Step 1 – Prepare to purchase
There are a lot of things you'll want to consider before you look for a home. It's likely that you'll want to form an outline of items you want to have, get a feel for what school districts you'd like to live in, and begin working on your budget. A good principle to adhere to is that your mortgage payment should be no more than 1/3 of your monthly income.

Step 2 – Contact a real estate agent in San Pedro
This is where Bloch & Hoskins Real Estate comes in. I'd like to schedule a time to get together with you and communicate with you about your real estate needs and get an idea of your plans for the future. We'll talk about neighborhoods, school districts in the San Pedro area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.

I'll also assist you in getting started on your loan. There are some great mortgage professionals in San Pedro, and I partner with a lot of them, so you're in great hands. They can assist you with deciding which type of loan is best for you and help you get approved.

Step 3 – Begin your home search
After our first meeting, I'll start searching for houses on the market that meet your needs. I'll research many of the houses and ignore the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.

When we tour houses, I'll point out positive features and bad ones. I'll even ask you to talk about things you like and dislike. It's common for buyers to amend their list of must-haves as we tour houses and some features become far more important than others. If that happens, I'll look through the listings one more time and trim it down to the house you've been dreaming about.

Step 4 – Understand the housing market
Your agent's knowledge of the San Pedro housing market is a crucial component in your home search. And I can assure you I'm informed of all the neighborhoods and school districts, and I will communicate certain neighborhoods are "hot" and call for immediate action and the ones that are "cold" and allow for thoughtful analysis.

When we tour homes, I'll be sure to tell you when the seller's asking price has room for bargaining and also when I think the home is "priced to sell." Any REALTOR will convince you they comprehend the housing market, but beware, and make sure you ask your agent a lot of questions. If it doesn't seem like they know everything, just call me at (310) 519-3899 or e-mail me at , and I'd be glad to answer any questions you might have. My market expertise will keep you a step ahead throughout the entire process.

Step 5 – Find your dream home
We'll find your dream house in San Pedro, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies. A few examples are acquiring financing, carrying out the inspection, and a clear title.

Upon presenting your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property. The amount is most often put towards the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts don't close on the beginning offer, and it's widely common to receive a counter offer. Don't let this alarm you. We'll discuss whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.

Market circumstances will play a role in how aggressively we negotiate the contract. We'll also work within your financing budget. And when it's all said and done, we'll assemble a deal that is best for you.

Step 7 – Get a loan
Once we sign the final deal, you'll start working with your mortgage lender to close the loan. If you've been pre-approved, it shouldn't take long at all, but you'll need to stay in close contact with your lender. And I'll take care of all the property information your lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of accepting your loan application. The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if everything looks okay.

Then it's time to close on your house. This will likely happen at a title company or escrow office and should be a smooth and relaxing occasion.

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