Are you contemplating purchasing your new home in South Bay & Palos Verdes?
Buying a home can be stressful for most people, but with a little up-front planning, it's not all that complicated.
I like to provide buyers with an outline of the entire deal so they'll understand exactly what to expect.
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 glad to answer questions you have regarding this information.
Step 1 – Prepare to purchase a home
There are many things you'll want to contemplate before you look for a home.
When you start your search, you'll want to create an outline of features you need, get a feeling for what school districts you want to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good rule to adhere to.
Step 2 – Communicate with a real estate agent
This is where Larissa Rubijevsky comes in.
I'd be happy to schedule a time to meet with you and speak with you regarding your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the South Bay & Palos Verdes area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
I can also assist you in getting started on your loan.
There are some excellent mortgage professionals in South Bay & Palos Verdes, and I partner with a lot of them, so you're in great hands.
They will assist you with choosing which kind of loan is best for you and help you get qualified.
Step 3 – Start looking for a home
Following our initial meeting, I'll start finding houses on the market that are a good fit for you.
I'll get a sneak peek of most of the houses and reject the duds, and then we'll set up appointments to view the homes when it's convenient for you.
When we view homes, I'll identify positive features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
It's common for buyers to revise their wish list as we view homes and some items become more crucial than others.
If that's the situation, I'll search the listings once more and trim it down to the home of your dreams.
Step 4 – Comprehend the market
An agent's understanding of the South Bay & Palos Verdes market is a fundamental agent in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I'll communicate which areas are "hot" and call for prompt action and others that are "cold" and allow for cautiousness.
As we view homes, I'll let you know if the asking price has room for bargaining or if I believe the house is "priced to sell."
Any REALTOR will tell you they understand the housing market, but be wary, and be sure to ask your agent lots of questions.
If it appears they don't know everything, call me at or e-mail me at , and I'll be more than happy to answer your questions. My market knowledge will keep you a step above the rest throughout the entire process.
Step 5 – Find the house of your dreams
We'll find your dream home in South Bay & Palos Verdes, and when we do, I'll thoroughly create your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as obtaining financing, completing the inspection, and a clear title.
When presenting your offer, you'll probably want to submit "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property and is most often put towards the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the initial offer, and it's extremely common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to consent to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your budget. And when it's all said and done, we'll put together a deal that's best for you.
Step 7 – Secure your loan
Upon signing the contract, you'll begin working with your mortgage lender to close the loan.
If you're already pre-approved, this shouldn't take much time at all, but you'll want to stay in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your loan application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a tight range of accuracy. I'll study the estimate and let you know if everything looks permissible.
Then it's time to close on your home. This will most often occur at a title company or escrow office and is often a smooth and relaxing event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just call me at or e-mail me at .