Are you purchasing your new home in San Pedro? Bloch & Hoskins Real Estate can help.
With some up-front planning, purchasing a home isn't all that hard, but the event is intimidating for a lot of people.
So they understand exactly what to expect, I'll furnish buyers with an overview of the whole deal.
Here are my nine steps to purchasing a home.
If you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you start searching for a home, there are a lot of things you'll want to do.
When you start your search, you'll probably want to form an index of features you need to have, get a plan of what school districts you want to live in, and begin working on your budget.
Ensuring your mortgage payment is less than 1/3 of your monthly income is a good guideline to adhere to.
Step 2 – Communicate with a real estate agent
This is where Bloch & Hoskins Real Estate can help.
I'd be more than happy to set up a time to meet with you and communicate with you regarding your real estate needs and get an idea of your upcoming plans.
We'll discuss neighborhoods, schools in the San Pedro area, the mortgage and housing industries, and any additional economic factors that might affect your purchase today or in the future.
I can also help you facilitate the loan process.
There are some excellent mortgage professionals in San Pedro, and I work with a lot of them, so you'll be in great hands.
They can assist you with choosing which type of loan is best for you and help you get qualified.
Step 3 – Begin looking for a home
Following our initial meeting, I'll start finding available houses on the market that are good for you.
I'll research many of the houses and remove the duds, and then we'll book appointments to tour the homes when it's most convenient for you.
As we view the homes, I'll call attention to good features and negative ones. I'll also ask you about things you like and dislike.
It's common for buyers to revise their list of must-haves as we tour homes and some features become more important than others.
If that's the situation, I'll look through all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
Your agent's knowledge of the San Pedro housing market is a necessary factor in your house search. And I can assure you I'm conscious of all the school districts and neighborhoods, and I'll communicate what areas are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful examination.
When we tour homes, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and be sure to ask plenty of questions, as any real estate agent will convince you they truly know the housing market.
If things don't add up, just call me at (310) 519-3899 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the home of your dreams
I know we'll find your dream home in San Pedro. When that happens, I'll thoroughly create your purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as getting financing, carrying out the inspection, and a clean title.
When we present your purchase offer, you'll likely want to present "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property. The amount is most often put towards the cost of closing. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the beginning offer – it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Obtain your loan
Upon completion of the contract, you'll begin 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 need to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) outlining your closing costs within three days of taking your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a close range of accuracy. I'll analyze the estimate and let you know if it all looks all right.
Then we'll close on your home. This will probably occur at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, be sure to call me at (310) 519-3899 or e-mail me at .