Are you contemplating purchasing a new home in San Pedro? Bloch & Hoskins Real Estate can help.
Purchasing a home can be stressful for a lot of people, but it's not very complicated with a bit of up-front planning.
So they understand exactly what they can expect, I will supply buyers with an outline of the whole deal.
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 happy to answer any questions you have about this information.
Step 1 – Get ready to purchase a home
Before you begin searching for a home, there are many things you should contemplate.
You'll most likely want to create a list of features you want to have, get an idea of what school districts and neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Get in touch with a real estate agent in San Pedro
This is where I can help.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the San Pedro area, the mortgage industry, and any other economic factors that might affect your purchase today or in the future.
I'll also assist you in getting started on your loan.
There are some excellent mortgage professionals in San Pedro, and I work with a lot of them, so you can rest assured that you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After we meet for the first time, I'll begin finding homes on the market that meet your needs.
I'll research many of the homes and exclude the bad ones, and then we'll set up appointments to view the homes whenever it's most convenient for you.
As we view houses, I'll point out good features, as well as bad ones. I'll also ask you to point out what things you like and don't like.
Generally, buyers change their must-have list as we view houses and some features become more important than others.
If that happens, I'll go back through the listings once more and narrow it down to the house you've been wishing for.
Step 4 – Know the market
My awareness of the San Pedro market is a necessary agent in your house search. I'm informed of all the school districts and neighborhoods, and I will let you know what neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for careful examination.
When we tour houses, I'll let you know if the list price has room for negotiation or if I believe the house is "priced to sell."
Be mindful and be sure to ask your agent a lot of questions, as every real estate agent in San Pedro will claim to know the home market.
If things don't add up, call me at (310) 519-3899 or e-mail me at , and I'll be glad to answer any questions you have. My market knowledge will help you stay a step above the rest through the entire process.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the San Pedro area, and when we do, I'll thoroughly create your purchase offer. The offer will be made to suit your needs and the home. We'll include many contingencies, such as obtaining financing, finishing the inspection, and a clean title.
When submitting your offer, most likely you'll need to present "earnest money." This is a cash deposit given to the home seller to secure the offer to purchase the property and is typically applied to the closing costs. If the seller accepts the offer, we should close within 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 initial offer, and it's widely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And at the end of the day, we'll formulate a contract that is best for you.
Step 7 – Obtain a loan
After the deal is finished, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, this won't take much time at all, but you'll want to stay in close contact with your mortgage lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of getting your loan application.
This estimate is based on the loan amount, and RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy. I'll study the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will most likely be a smooth and relaxed occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at (310) 519-3899 or e-mail me at .