Contemplating purchasing a new home in San Pedro? Bloch & Hoskins Real Estate can help.
With a little up-front planning, buying a home isn't that hard, but the event is stressful for a lot of people.
I like to furnish buyers with an outline of the entire deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
Should you have questions regarding this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
Before you begin looking for a home, there are plenty of things you need to take into account.
You'll want to put together an index of items you need to have, get an idea of what neighborhoods and school districts you want to live in, and start planning your budget.
Keeping your mortgage payment around 1/3 of your net monthly income is a good rule of thumb to follow.
Step 2 – Get in touch with a real estate agent
This is where Bloch & Hoskins Real Estate comes in.
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 plans for the future.
We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the San Pedro area.
In addition, I'll help you get started on your loan.
There are some excellent mortgage professionals in San Pedro, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can assist you with deciding which kind of loan is best for you and help you get approved.
Step 3 – Start your home search
After our first meeting, I'll start looking for homes on the market that best suit you.
I'll get a sneak peek of many of the homes and exclude the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.
As we view houses, I'll call attention to positive features, as well as bad ones. I'll also ask you about things you like and don't like.
Oftentimes, buyers revise their list of must-haves as we tour houses and some features become far more crucial than others.
If that's the case, I'll look through the listings one more time and trim it down to the house you've been waiting for.
Step 4 – Comprehend the housing market
My awareness of the San Pedro housing market is an essential element in your house search. I am familiar with all the neighborhoods and school districts, and I'll alert you to some districts are "hot" and warrant prompt action and others that are "cool" and allow for more examination.
As we tour homes, I'll let you know when the list price has room for bargaining and also when I think the house is "priced to sell."
Every REALTOR in San Pedro will convince you they truly understand the market, but take note, and make sure you ask plenty of questions.
If it doesn't seem like they know everything, contact 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 house
I'm confident we'll find the house of your dreams in San Pedro. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies. A few examples are acquiring financing, completing the inspection, and a clean title.
Upon sending in your offer, you'll probably 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 often put towards the closing costs. If the offer is accepted, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's very common to receive a counter offer. Don't let this discourage you. We'll talk about whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
Market conditions will play a big part in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Obtain 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 be a long process at all, but you should to stay in close contact with your lender.
And I'll sort out all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of accepting your application.
The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will probably be a smooth and easygoing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at (310) 519-3899 or e-mail me at .