Purchasing your home in South Bay & Palos Verdes?
Buying a home intimidates many people, but it isn't too difficult with a bit of up-front planning.
I like to furnish buyers with an overview of the whole deal so they'll understand exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, just contact me here or e-mail me at . I'm glad to address any questions you have regarding this information.
Step 1 – Prepare to purchase
There are a lot of things you need to take into account before beginning your home search.
When you begin your search, you'll probably want to assemble an outline of items you want, get a feel for what neighborhoods and school districts you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 1/3 of your monthly income is a good rule of thumb to follow.
Step 2 – Talk to a real estate agent
This is where Larissa Rubijevsky comes in.
I'd be happy to plan a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll talk about the mortgage and housing industries, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and school districts in the South Bay & Palos Verdes area.
I can also assist you with getting started on your loan.
There are some great mortgage professionals in South Bay & Palos Verdes, and I work with a lot of them, so you can rest assured that you're in great hands.
They will assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After our initial meeting, I'll begin looking for available houses on the market that are good for you.
I'll get a sneak peek of most of the houses and reject the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we tour houses, I'll show you the positive features and negative ones. And I'll ask you what things you like and dislike.
Frequently, buyers change their list of must-haves as we view houses and some things become more crucial than others.
If that's the case, I'll search the listings once more and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
My knowledge of the South Bay & Palos Verdes home market is an imperative component in your home search. I'm mindful of all the school districts and neighborhoods, and I can alert you to certain areas are "hot" and demand prompt action and others that are "cool" and allow for careful analysis.
As we view homes, I'll make sure to communicate if the seller's asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and be sure to ask lots of questions. Any REALTOR in South Bay & Palos Verdes will convince you they comprehend the housing market.
If it doesn't seem like they know everything, call me at 3103871414 or e-mail me at , and I'd be glad to answer your questions. My understanding of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in the South Bay & Palos Verdes area, and when that happens, I'll carefully develop your purchase offer. The offer will be tailored to suit your needs and the home, including a lot of contingencies. A few examples are getting financing, finishing the inspection, and a clean title.
When we submit your purchase offer, you'll likely need to submit "earnest money." This is a cash deposit made to a seller to secure an offer to buy the property, and it's most often applied to the cost of closing. If your offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the first offer – it's really common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your budget. And when it's all said and done, we'll create a contract that's best for you.
Step 7 – Get financing
After we sign the final sales contract, you'll begin working with your lender to close the loan.
It shouldn't be a long process at all if you've been pre-qualified, but you should to stay in close contact with your mortgage lender.
And I'll care for 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 lender within three days of receiving your loan application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a close range of accuracy, and I'll study the estimate and let you know if everything looks okay.
Then we'll close on your house. This will most often occur at a title company or escrow office and will likely be a smooth and calm event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, make sure you call me at 3103871414 or e-mail me at .