Buying or selling a home?

Buying a home is a stressful event for most people, but it isn't all that difficult with a little up-front planning. I like to furnish buyers with an overview of the entire deal so they know exactly what to expect. These are my nine steps to purchasing a home. When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.

Step 1 – Get ready to buy a home
Before you start searching for a home, there are a lot of things you need to take into account. You'll want to put together an index of must-haves, plan for what school districts you'd like to live in, and start working on your budget. Keeping your mortgage payment less than or around a third of your monthly income is a good rule to adhere to.

Step 2 – Talk to a real estate agent
This is where Excel Funding Real Estate Services, Inc. can help. We can schedule a time to meet 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 may potentially affect your buying decision today or in the future, as well as neighborhoods and school districts 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 finest mortgage professionals, so you'll be in great hands. They can help you figure out which type of loan is best for you, as well as help you get approved.

Step 3 – Start your search
Following our first meeting, I'll start searching for available houses on the market that meet your needs. I'll research most of the houses and ignore the duds, and then we'll schedule appointments to view the homes whenever it's convenient for you.

As we view homes, I'll identify good features, as well as bad ones. I'll also ask you about things you like and dislike. Oftentimes, buyers update their must-have list as we view homes and some features become more essential than others. If that's the situation, I'll go back through the listings again and narrow it down to the home you've been wishing for.

Step 4 – Understand the housing market
My awareness of the Rancho Palos Verdes home market is an imperative component in your home search. I am conscious of all the schools and neighborhoods, and I will let you know what districts are "hot" and require prompt action and some that are "cold" and allow for more analysis.

As we view houses, I'll let you know if the seller's asking price has room for bargaining or if I believe the home is "priced to sell." When working with an agent, be careful and make sure you ask lots of questions, as any REALTOR in Rancho Palos Verdes will claim to truly understand the housing market. If things don't add up, contact me at 3107842828 or e-mail me at , and I'd be more than happy to answer any questions you have. My knowledge of the market will help you stay a step above the rest through the entire deal.

Step 5 – Find the house of your dreams
We'll find your dream house in the Rancho Palos Verdes area, and when that happens, I'll meticulously create your purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are acquiring financing, finishing the inspection, and a clear title.

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

Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the first offer. It's very common to receive a counter offer. But don't let this discourage you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and move on.

Market conditions will play a big part in how aggressively we negotiate the contract. We'll also work within your financing budget. And at the end of the day, we'll create a contract that works well for you.

Step 7 – Obtain financing
Upon finishing the contract, you'll begin working with your lender to close the loan. If you've been pre-approved, it won't be a long process at all. But you'll want to stay in close contact with your mortgage lender. And I'll handle 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) detailing closing costs from your lender within three days of getting your loan application. The estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a tight range of accuracy, and I'll analyze the estimate and let you know if everything looks all right.

Then we'll close on your home. This will most often happen at a title company or escrow office and will probably be a smooth and pleasant occasion.

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