Buying or selling a home?

Purchasing a home is stressful for most people, but it isn't too difficult with a little planning ahead of time. 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. Should you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .

Step 1 – Get ready to purchase
There are several things you'll want to do before you search for a home. When you start your search, you'll probably want to make a check list of features you want to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning your budget. Keeping your mortgage payment less than a third of your net monthly income is a good guideline to adhere to.

Step 2 – Get in touch with a real estate agent
This is where I can help. I'd like to book 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 talk about everything from neighborhoods, schools in the Rancho Palos Verdes area, the mortgage and housing industries, to any other economic factors that could affect your purchase today or in the future.

In addition, I'll help you begin the loan process. There are some very good mortgage professionals in Rancho Palos Verdes, and I partner with a lot of them, so you're in great hands. They can help you determine which type of loan is best for you, as well as help you get approved.

Step 3 – Start house-hunting
Following our first meeting, I'll start looking for available houses on the market that suit your needs. I'll research many of the homes and ignore the duds, and then we'll book appointments to tour the houses when it's convenient for you.

As we view the homes, I'll identify good features and bad ones. And I'll ask you to point out what things you like and dislike. Oftentimes, buyers change their list of must-haves as we view homes and some things become far more necessary than others. If that happens, I'll go back through all the listings once again and trim it down to the home you've been dreaming about.

Step 4 – Understand the market
My knowledge of the Rancho Palos Verdes housing market is a crucial element in your home search. I'm familiar with all the schools and neighborhoods, and I can communicate which districts are "hot" and call for immediate action and the ones that are "cold" and allow for more consideration.

When we tour homes, I'll make sure to communicate when the list price has room for negotiation and also when I trust the home is "priced to sell." Trust your instincts and make sure you ask your agent lots of questions, as every REALTOR in Rancho Palos Verdes will convince you they comprehend the housing market. If things don't add up, call me at (310) 784-2828 Ext 225 or e-mail me at , and I'll be more than happy to answer any questions you may have. My knowledge of the market will keep you a step above the rest through the entire deal.

Step 5 – Find the house of your dreams
I'm confident we'll find the house of your dreams in Rancho Palos Verdes. When that happens, I'll precisely create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies, such as getting financing, finishing the inspection, and a clean title.

When submitting your offer, you'll need to submit "earnest money." This is a cash deposit submitted to the seller to secure the offer to purchase the property and is usually applied to the closing costs. If your offer is accepted, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the initial offer – it's pretty common to receive a counter offer. But don't let it alarm you. We'll consider whether or not to consent to the counter offer, submit 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 at the end of the day, we'll assemble a contract that is best for you.

Step 7 – Get a loan
Once the deal is finished, you'll begin working with your mortgage lender to close the loan. If you're pre-approved, this shouldn't take much time at all. However, you'll need to stay in close contact with your mortgage lender. And I'll manage all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your loan application. The estimate is based on the loan amount. RESPA requirements require that it has to include all closing costs and fall within a tight 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 probably happen at a title company or escrow office and is often a smooth and easygoing occurrence.

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 (310) 784-2828 Ext 225 or e-mail me at .

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