Buying a home in San Pedro

Buying a home intimidates most people, but it's not too complicated with a bit of planning ahead of time. I like to provide buyers with a road map of the whole deal so they'll understand exactly what to expect. Here are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have about this information.

Step 1 – Get ready to purchase
There are many things you'll want to take into account prior to beginning your home search. When you begin your search, you'll want to form a check list of items you want to have, plan for what school districts and neighborhoods you'd like to live in, and begin planning your budget. A good rule of thumb to go by is that your mortgage payment should be no more than 1/3 of your monthly income.

Step 2 – Speak with a real estate agent in San Pedro
This is where I come in. We'll book a time to get together so we can talk about your real estate needs 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 might affect your purchase today or in the future.

In addition, I'll help you get started on your loan. Bloch & Hoskins Real Estate partners with some of San Pedro's finest mortgage professionals, so you can rest assured that you're in great hands. They'll help you choose which type of loan is best for you, as well as help you get qualified.

Step 3 – Start your home search
After we meet, I'll start searching for available houses on the market that are a good fit for you. I'll preview most of the homes and ignore the duds, and then we'll schedule appointments to view the homes when it's most convenient for you.

When we view the homes, I'll show you the good features, as well as bad ones. I'll even ask you to tell us about things you like and don't like. It's pretty common for buyers to change their wish list as we tour houses and some things become far more crucial than others. If that's the situation, I'll search all the listings once more and trim it down to the home you've been waiting for.

Step 4 – Know the housing market
My knowledge of the San Pedro housing market is an essential element in your home search. I'm mindful of all the schools and neighborhoods, and I'll alert you to which districts are "hot" and demand prompt action and others that are "cold" and allow for thoughtful consideration.

When we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell." Be on guard and be sure to ask lots of questions, as every REALTOR in San Pedro will claim to comprehend the housing market. If it doesn't seem like they know everything, contact me at (310) 519-3899 or e-mail me at , and I'll be happy to answer any questions you might have. My market expertise will help you stay a step ahead through the entire process.

Step 5 – Find the home you've been waiting for
We'll find your dream home in the San Pedro area, and when that happens, I'll thoroughly develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as getting financing, finishing the inspection, and a clean title.

When we send in your purchase offer, you'll want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's typically put towards the closing costs. If the seller accepts your offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals aren't closed on the beginning offer, and it's very common to receive a counter offer. Don't let this alarm you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and go on.

Market conditions will play a big part in how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll put together a deal that is best for you.

Step 7 – Secure financing
Upon completion of the contract, you'll begin working with your mortgage lender to close the loan. If you've been pre-approved, it shouldn't take long at all. But you should to stay in close contact with your lender. And I'll look after all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining closing costs within three days of getting your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of taking your loan application. This estimate is formed from the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.

Then we'll close on your home. This will most likely take place at a title company or escrow office and is often a smooth and easygoing occurrence.

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