Are you buying your home in San Pedro?

For a lot of people, purchasing a home can be an intimidating event. However, with some planning ahead of time, it's not too hard. I like to give buyers an outline of the whole deal so they'll understand exactly what they can expect. Below are my nine steps to buying a home. When you're ready to get started, just contact me here or e-mail me at . I'm glad to address questions you have regarding this information.

Step 1 – Prepare to buy a home
There are a lot of things you'll want to do before beginning your home search. You'll want to put together a list of items you need, get a feel for what school districts you'd like to live in, and begin working on your budget. Keeping your mortgage payment less than or around a third of your monthly income is a good rule of thumb to follow.

Step 2 – Contact a real estate agent in San Pedro
This is where I can help. I'd love to arrange a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your upcoming plans. We'll discuss 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 can also assist you in getting started on your loan. Bloch & Hoskins Real Estate works with some of San Pedro's best mortgage professionals, 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 – Begin looking for a home
After we meet, I'll begin looking for available houses on the market that are great for you. I'll research many of the homes and exclude the bad ones, and then we'll schedule appointments to view the houses when it's most convenient for you.

When we tour houses, I'll point out positive features and bad ones. And I'll ask you what things you like and don't like. It's common for buyers to amend their wish list as we tour houses and some features become more important than others. If such is the case, I'll search the listings again and trim it down to the home you've been dreaming about.

Step 4 – Understand the market
My understanding of the San Pedro housing market is an imperative factor in your home search. I am informed of all the schools and neighborhoods, and I can communicate some neighborhoods are "hot" and warrant immediate action and some that are "cool" and allow for cautiousness.

When we tour houses, I'll be sure to tell you if the asking price has room for bargaining or if I believe the home is "priced to sell." Every real estate agent will tell you they truly understand the housing market, but keep an eye out, and make sure you ask a lot of questions. If it doesn't seem like they know everything, call me at (310) 519-3899 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step ahead throughout the entire process.

Step 5 – Find your dream home
We'll find your dream house in San Pedro, and when we do, I'll thoroughly develop your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as obtaining financing, finishing the inspection, and a clear title.

When turning in your offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to purchase the property, and it's most often put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
Most deals aren't closed on the initial offer – it's really common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, present our own counter offer, or decline the seller's offer and move on.

The state of the market determines 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 – Obtain your loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't be a long process at all, but you need to keep in close contact with your mortgage lender. And I'll handle 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 your closing costs from your mortgage lender within three days of taking your application. This estimate depends on the loan amount, and RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy. I'll review the estimate and let you know if it all looks good.

Then we'll close on your home. This should happen at a title company or escrow office and will probably be a smooth and comfortable occasion.

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