Looking to buy a new home in South Bay & Palos Verdes? Larissa Rubijevsky can help.
Buying a home is a stressful event for a lot of people, but it isn't all that confusing with a little planning ahead of time.
I like to furnish buyers with an overview of the entire deal so they understand exactly what they can expect.
These 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 any questions you have regarding this information.
Step 1 – Get ready to purchase
Before you start looking for a home, there are many things you'll want to consider.
It's likely that you'll want to make a list of items you want, get a plan of what neighborhoods you want to live in, and begin working on your budget.
Ensuring your mortgage payment is no more than 1/3 of your net monthly income is a good guideline to follow.
Step 2 – Talk to a real estate agent in South Bay & Palos Verdes
This is where I can help.
I'd be more than happy to plan a time to meet with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, schools in the South Bay & Palos Verdes area, the mortgage and housing industries, and any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
There are some very good mortgage professionals in South Bay & Palos Verdes, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can help you decide which type of loan is best for you, as well as help you get approved.
Step 3 – Start your home search
After we meet, I'll start searching for available homes on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll schedule appointments to view the houses at a time that's convenient for you.
As we view the houses, I'll identify good features, as well as bad ones. I'll also ask you about things you like and don't like.
It's pretty common for buyers to amend their list of must-haves as we view homes and some items become more necessary than others.
If that's the situation, I'll look through all the listings again and trim it down to the house you've been dreaming about.
Step 4 – Understand the market
An agent's awareness of the South Bay & Palos Verdes housing market is an essential element in your home search. And I can assure you I'm conscious of all the neighborhoods and schools, and I can communicate which neighborhoods are "hot" and call for immediate action and some that are "cold" and allow for thoughtful examination.
When we view homes, I'll let you know when the list price has room for bargaining and when I think the house is "priced to sell."
Any real estate agent in South Bay & Palos Verdes will claim to truly know the market, but beware, and be sure to ask plenty of questions.
If things don't add up, call me at or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will help you stay a step ahead through the entire deal.
Step 5 – Find the house you've been waiting 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 keeping your needs in mind and the home, including a lot of contingencies. A few examples are getting financing, completing the inspection, and a clean title.
When we send in your offer, you'll need to present "earnest money." This is a cash deposit submitted to the seller to secure the offer to buy the property, and it's typically put towards the closing costs. If the seller accepts the offer, we should close on the property within 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Most contracts don't close on the initial offer, and it's widely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing constraints. And when it's all said and done, we'll create a deal that is best for you.
Step 7 – Get a loan
Upon signing the deal, you'll begin working with your mortgage lender to close the loan.
This won't take very long at all if you're already pre-qualified, but you'll want 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
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a precise range of accuracy. I'll go over the estimate and let you know if it all looks permissible.
Then we'll close on your home. This will likely take place at a title company or escrow office and will likely be a smooth and easygoing affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you contact me at or e-mail me at .