Buying or selling a home in San Pedro?

For a lot of people, purchasing a home is a stressful event. But with some up-front planning, it isn't that difficult. So they understand exactly what they can expect, I'll provide buyers with a road map of the whole 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 happy to address questions you have regarding this information.

Step 1 – Prepare to buy
There are a lot of things you need to contemplate prior to starting your home search. When you start your search, you'll want to put together a check list of features you want, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget. A good rule of thumb to follow is that your mortgage payment should be 1/3 of your monthly income.

Step 2 – Connect with a real estate agent
This is where I can help. I'd be more than happy to set up a time to meet with you and communicate with you regarding why you want to buy a home and get an idea of your future plans. We'll discuss the mortgage and housing industries, other economic factors that could affect your purchase today or in the future, as well as neighborhoods and school districts in the San Pedro area.

I can also help you begin the loan process. There are some great 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 will assist you in deciding which type of loan is best for you and help you get qualified.

Step 3 – Begin your search
After we meet for the first time, I'll begin searching for homes on the market that best suit you. I'll research most of the houses and throw out the bad ones, and then we'll book appointments to tour the homes whenever it's convenient for you.

As we view the homes, I'll show you the positive features, as well as bad ones. I'll even ask you to point out what things you like and don't like. For the most part, buyers amend their must-have list as we tour houses and some items become more crucial than others. If that's the situation, I'll search the listings once again and trim it down to the home of your dreams.

Step 4 – Know the market
My knowledge of the San Pedro market is an imperative component in your home search. I'm familiar with all the neighborhoods and schools, and I can communicate which neighborhoods are "hot" and call for immediate action and others that are "cold" and allow for more examination.

As we tour homes, I'll be sure to tell you when the seller's asking price has room for negotiation and also when I believe the house is "priced to sell." When working with an agent, be careful and make sure you ask a lot of questions, as any REALTOR will convince you they truly know the home market. If it appears they don't know everything, just call me at (310) 519-3899 or e-mail me at , and I'd be happy to answer any questions you might have. My market expertise will keep you a step above the rest through the entire deal.

Step 5 – Find the house you've been looking for
I know we'll find the house of your dreams in San Pedro. When that happens, I'll thoroughly develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including some contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.

When turning in your purchase offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to purchase the property, and it's usually put towards the cost of closing. If your offer is accepted, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll talk about whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.

The state of the market determines how aggressively we negotiate the deal. We'll also work within your financing limits. And when it's all said and done, we'll create a deal that is best for you.

Step 7 – Secure a loan
Upon completing the contract, you'll start working with your lender to close the loan. It shouldn't take very long at all if you're already pre-qualified, but you should to stay in close contact with your mortgage lender. And I'll deal with all the property information your mortgage lender needs to close the loan.

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

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

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