Contemplating purchasing your home in Rancho Palos Verdes?

With some planning ahead of time, purchasing a home isn't very hard, but the event is stressful for a lot of people. I like to give buyers an overview of the whole deal so they'll understand exactly what they can expect. These are my nine steps to buying a home. Should you have questions about this information or if you're prepared to get started, just contact me here or e-mail me at .

Step 1 – Prepare to buy
There are plenty of things you need to consider prior to beginning your home search. When you start your search, you'll probably want to make a check list of features you need to have, get a plan of what neighborhoods and school districts you want to live in, and begin planning around your budget. A good rule of thumb to follow is that your mortgage payment should be less than a third of your monthly income.

Step 2 – Connect with a real estate agent in Rancho Palos Verdes
That's where I come in. We'll arrange a time to get together so we can talk about your real estate needs and get an idea of your future plans. We'll talk about the mortgage industry, other economic factors that could affect your buying decision today or in the future, as well as neighborhoods and schools in the Rancho Palos Verdes area.

I can also assist you with getting started on your loan. I work with some of Rancho Palos Verdes's best mortgage professionals, so you can rest assured that you're in great hands. They'll help you figure out which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start house-hunting
After our first meeting, I'll start finding homes on the market that are a good fit for you. I'll research many of the houses and exclude the bad ones, and then we'll book appointments to view the houses at a time that's convenient for you.

When we view homes, I'll identify good features, as well as negative ones. I'll also ask you about things you like and don't like. Oftentimes, buyers change their must-have list as we view homes and some things become far more crucial than others. If that's the situation, I'll go back through all the listings another time and narrow it down to the home you've been waiting for.

Step 4 – Know the market
My awareness of the Rancho Palos Verdes housing market is a crucial factor in your home search. I am informed of all the school districts and neighborhoods, and I'll let you know what areas are "hot" and demand immediate action and some that are "cold" and allow for thoughtful analysis.

As we tour houses, I'll let you know when the list price has room for bargaining and also when I know the home is "priced to sell." Any real estate agent will claim to truly understand the housing market, but keep an eye out, and make sure you ask lots of questions. If things don't add up, call me at 3107842828 or e-mail me at , and I'd be happy to answer any questions you have. My market knowledge will keep you a step above the rest throughout the entire process.

Step 5 – Find your dream house
We'll find the house of your dreams in the Rancho Palos Verdes area, and when we do, I'll carefully develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies, such as acquiring financing, carrying out the inspection, and a clean title.

When we present your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit made to a seller to secure an offer to purchase the property. The amount is most often put towards the cost of closing. If your offer is accepted by the seller, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate
Most deals aren't closed on the first offer, and it's extremely common to receive a counter offer. But don't let this discourage you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

Market conditions determine how aggressively we negotiate the deal. We'll also work within your financing limits. And at the end of the day, we'll compose a deal that's best for you.

Step 7 – Obtain financing
Once the deal is finished, you'll begin working with your lender to close the loan. It won't take very long at all if you're pre-qualified, but you'll want to keep in close contact with your lender. And I'll deal with 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. This estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if everything looks adequate.

Then we'll close on your home. This will most often take place at a title company or escrow office and should be a smooth and calm affair.

Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, be sure to call me at 3107842828 or e-mail me at .

Excel Funding Real Estate Services, Inc.

28924 South Western Avenue, Suite 110
Rancho Palos Verdes, CA 90275