Buying a home will probably involve some of the biggest financial decisions that you will ever need to make during your lifetime. This can be somewhat overwhelming, but as long as you plan carefully and know what you want, the entire process from start to finish need not be complicated at all. That’s where we step in and help. When you work with us, we’ll make sure that your home-buying experience will be as smooth and worry-free as possible. Don’t go it alone. I cannot stress enough the importance of working with a real estate professional, as navigating the real estate market on your own can be quite daunting and complex. Our team will provide you with access to comprehensive property listings and process the necessary paperwork, as well as help you steer clear of potential problems and guide you in making more informed decisions.
So before you begin your search for the perfect property, here are four questions you should ask yourself.
What do I want?
Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the city or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, factors like crime rate and proximity to highways can impact the overall home-owning experience. Plus, if you have kids, school system is a high priority in the Los Angeles area. Fortunately, we already have made that Home Buying Questionnaire for you. Take the time to really narrow what you want down, and let us guide you the rest of the way.
What can I afford?
The rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. The different kinds of loans available can be a bit overwhelming, but we can help you compare each mortgage type for your financial situation and guide you to the best possible option. Not familiar with financing options? No worries we broke it down to basics on our Financing 101 page. For a more tailored look at what you can afford, use an online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.
Am I financially prepared?
Before starting your search, you should create your “green file,” which you will need to secure financing. This green file will contain your important financial documents such as bank accounts, investments, credit cards, loans, tax returns, insurance, property leases, and more. Get copies of your credit report, ensure that it’s accurate, and fix any issues you discover. Pre-approval from a lender is based on your credit history, debt, and income. So don’t lease/buy a car, put a 10 day Greek Islands vacation on your Amex. See what we mean when we say “Be a Boy Scout. Be Prepared”
How do I make the winning offer?
When you’ve chosen the home you really want, we’ll assist you in making an offer that the seller will consider, and will fully negotiate on your behalf. Our in-depth knowledge of finance, escrow, and all legal aspects of real estate, ensure that everything proceeds smoothly and on time. Our relationships with other area agents are more than just beers at Happy Hour. Just because you have the highest offer, doesn’t mean it’s the best. The best offer, is one where escrow closes and there are minimal headaches. We have a reputation for closing and educating our clients to ensure a smooth escrow. We commit to upholding our reputation.