Are you purchasing your home in San Pedro?
With a little planning ahead of time, purchasing a home isn't very hard, but the event is stressful for many people.
So they understand exactly what they can expect, I like to supply buyers with an overview of the entire deal.
Here are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have regarding this information.
Step 1 – Get ready to purchase
There are plenty of things you should contemplate prior to commencing your home search.
You'll want to put together a checklist of must-have features, get a feel for what school districts and neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good rule to adhere to.
Step 2 – Talk to a real estate agent in San Pedro
That's where I come in.
We'll plan a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the San Pedro area, the mortgage industry, to any other economic factors that could affect your buying decision today or in the future.
I can also help you get started on your loan.
Bloch & Hoskins Real Estate works with some of the best mortgage professionals in San Pedro, so you're in great hands.
They'll help you decide which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin searching for homes on the market that are a great fit for you.
I'll preview most of the houses and reject the duds, and then we'll schedule appointments to view the houses whenever it's convenient for you.
When we view the houses, I'll call attention to positive features and negative ones. I'll also ask you to tell us about things you like and dislike.
Most often, buyers update their must-have list as we tour homes and some things become far more essential than others.
If that happens, I'll go back through the listings again and trim it down to the home you've been wishing for.
Step 4 – Understand the housing market
Your agent's awareness of the San Pedro market is a necessary aspect in your house search. And I assure you I'm acquainted with all the school districts and neighborhoods, and I will alert you to some districts are "hot" and require prompt action and the ones that are "cold" and allow for cautiousness.
As we tour houses, I'll make sure to communicate when the list price has room for bargaining and also when I think the house is "priced to sell."
Any REALTOR will tell you they truly know the housing market, but be wary, and be sure to ask plenty of questions.
If things don't add up, contact me at (310) 519-3899 or e-mail me at , and I'd be more than happy to answer your questions. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find the home of your dreams
I know we'll find the home of your dreams in the San Pedro area. When we do, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as getting financing, completing the home inspection, and a clean title.
When submitting your purchase offer, you'll need to present "earnest money." This is a cash deposit made to the seller to secure the offer to purchase the property, and it's typically put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate
A lot of deals aren't closed on the initial offer – it's widely common to receive a counter offer. Don't let this discourage you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll compose a deal that's best for you.
Step 7 – Secure financing
After we sign the final sales contract, you'll begin working with your lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you'll need to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of accepting your application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks all right.
Then it's time to close on your home. This will probably take place at a title company or escrow office and will likely be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply call me at (310) 519-3899 or e-mail me at .