Contemplating buying your home in San Pedro?

Buying a home intimidates most people, but it's not very difficult with a bit of planning ahead of time. I like to supply buyers with an overview of the entire deal so they'll understand exactly what to expect. These are my nine steps to buying a home. If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are several things you should contemplate prior to commencing your home search. When you begin your search, you'll probably want to form a check list of items you need to have, get an idea of what neighborhoods and school districts you'd like to live in, and start planning your budget. A good guideline to go by is that your mortgage payment should be around a third of your monthly income.

Step 2 – Communicate with a real estate agent
This is where Bloch & Hoskins Real Estate comes in. We can set up a time to meet so we can talk about your real estate needs and get an idea of your future plans. We'll discuss the mortgage industry, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and schools in the San Pedro area.

I'll also help you start the loan process. Bloch & Hoskins Real Estate works with some of the finest mortgage professionals in San Pedro, so you're in great hands. They will help you determine which kind of loan is best for you, as well as help you get approved.

Step 3 – Start looking for a house
After our first meeting, I'll start looking for available houses on the market that meet your needs. I'll research most of the houses and eliminate the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.

When we view houses, I'll show you the positive features, as well as negative ones. And I'll ask you to tell us about things you like and don't like. It's pretty common for buyers to update their wish list as we tour houses and some items become far more essential than others. If that's the situation, I'll look through all the listings one more time and trim it down to the home you've been wishing for.

Step 4 – Understand the market
My knowledge of the San Pedro market is an imperative aspect in your house search. I am mindful of all the schools and neighborhoods, and I will alert you to some districts are "hot" and call for immediate action and others that are "cold" and allow for more analysis.

As we view homes, I'll be sure to tell you when the list price has room for negotiation and also when I trust the home is "priced to sell." When working with an agent, trust your instincts and be sure to ask lots of questions, as any real estate agent in San Pedro will tell you they know the housing market. If it seems like they don't know everything, call me at (310) 519-3899 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will keep you a step above the rest throughout the entire process.

Step 5 – Find the house of your dreams
I'm confident we'll find your dream house in the San Pedro area. When that happens, I'll precisely develop your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.

When submitting your offer, you'll likely need to present "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close about 30 to 60 days afterward. This allows enough time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the beginning offer, and it's widely common to receive a counter offer. Don't let it alarm you. We'll talk about whether or not to accept 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. We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that's best for you.

Step 7 – Secure a loan
After we sign the final contract, you'll begin working with your lender to close the loan. If you're pre-approved, it shouldn't take long at all, but you should to stay in close contact with your lender. And I'll manage all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application. This estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if it all looks all right.

Then it's time to close on your house. This will most often occur at a title company or escrow office and is often a smooth and hassle-free occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, make sure you call me at (310) 519-3899 or e-mail me at .