Are you purchasing your home in Rancho Palos Verdes? Excel Funding Real Estate Services, Inc. can help.
With some up-front planning, buying a home isn't too complicated, but the event can be stressful for many people.
So they know exactly what they can expect, I will furnish buyers with an outline of the entire deal.
Below are my nine steps to purchasing a home.
Should you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
There are plenty of things you need to contemplate prior to commencing your home search.
You'll most likely want to form a check list of items you need, get an idea of what school districts you'd like to live in, and begin 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 – Speak with a real estate agent
This is where Excel Funding Real Estate Services, Inc. comes in.
I'd like to schedule a time to meet with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll discuss everything from neighborhoods, schools in the Rancho Palos Verdes area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
In addition, I'll assist you with getting started on your loan.
I partner with some of the best mortgage professionals in Rancho Palos Verdes, so you'll be 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 – Begin your home search
After our initial meeting, I'll begin looking for available homes on the market that are great for you.
I'll research most of the homes and eliminate the bad ones, and then we'll set up appointments to view the homes when it's most convenient for you.
As we view the homes, I'll identify positive features and negative ones. I'll also ask you to tell us about things you like and don't like.
It's common for buyers to update their list of must-haves as we view homes and some items become far more necessary than others.
If that's the case, I'll search all the listings once more and trim it down to the house you've been waiting for.
Step 4 – Get a grasp of the market
An agent's understanding of the Rancho Palos Verdes home market is a crucial factor in your house search. And I assure you I'm informed of all the neighborhoods and school districts, and I can let you know some neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for careful examination.
As we tour houses, I'll let you know when the asking price has room for bargaining and when I trust the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions, as any REALTOR will claim to understand the home market.
If things don't add up, contact me at 3107842828 or e-mail me at , and I'll be happy to answer your questions. My market knowledge will help you stay a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the Rancho Palos Verdes area, and when that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, finishing the home inspection, and a clean title.
Upon sending in your offer, you'll likely need to submit "earnest money." This is a cash deposit made to the seller to secure an offer to purchase the property. The amount is often applied to the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer – it's pretty 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, propose our own counter offer, or decline the seller's offer and move on.
Market circumstances will play a part 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 assemble a contract that's best for you.
Step 7 – Get a loan
Upon finishing the deal, 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. However, you should to stay in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your application.
This estimate is formed from the loan amount. RESPA requirements require that it has to include all closing costs and be within a tight range of accuracy, and I'll study the estimate and let you know if everything looks adequate.
Then we'll close on your house. This will likely occur at a title company or escrow office and is often a smooth and pleasant affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, be sure to call me at 3107842828 or e-mail me at .