Buying a new home in Sherman Oaks with Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090

With a little planning ahead of time, purchasing a home isn't all that confusing, but the event is intimidating for a lot of people. I like to supply buyers with an overview of the whole deal so they'll know exactly what to expect. Below are my nine steps to buying a home. If you have questions about this information or if you're prepared to get started, you can contact me here or e-mail me at .

Step 1 – Prepare to buy a home
There are plenty of things you should do before beginning your home search. When you begin your search, you'll want to put together a check list of must-haves, plan for what school districts and neighborhoods you want to live in, and start working on your budget. Ensuring your mortgage payment is no more than 30 percent of your monthly income is a good rule to go by.

Step 2 – Contact a real estate agent
This is where Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 can help. We'll schedule a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans. We'll talk about neighborhoods, schools in the Sherman Oaks area, the mortgage and housing industries, and any other economic factors that may affect your purchase today or in the future.

I'll also assist you in getting started on your loan. I partner with some of the finest mortgage professionals in Sherman Oaks, so you'll be in great hands. They will assist you in determining which kind of loan is best for you and help you get qualified.

Step 3 – Start looking for a house
Following our initial meeting, I'll start looking for available houses on the market that meet your needs. I'll research many of the homes and ignore the duds, and then we'll set up appointments to tour the houses whenever it's most convenient for you.

As we tour the homes, I'll point out good features and bad ones. And I'll ask you what things you like and dislike. Oftentimes, buyers revise their wish list as we view houses and some features become far more substantial than others. If such is the case, I'll look through the listings another time and trim it down to the home you've been wishing for.

Step 4 – Comprehend the housing market
My understanding of the Sherman Oaks market is a leading agent in your home search. I am familiar with all the school districts and neighborhoods, and I'll alert you to some neighborhoods are "hot" and demand prompt action and others that are "cold" and allow for careful consideration.

When we tour houses, I'll be sure to tell you if the asking price has room for negotiation or if I believe the house is "priced to sell." Be mindful and be sure to ask your agent lots of questions, as every real estate agent in Sherman Oaks will tell you they truly know the housing market. If things don't add up, contact me at (818) 269-1966 or e-mail me at , and I'd be more than happy to answer any questions you might have. My market expertise will keep you a step ahead throughout the entire process.

Step 5 – Find the home you've been waiting for
I'm certain we'll find the house of your dreams in the Sherman Oaks area. When we do, I'll carefully create your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, finishing the home inspection, and a clear title.

When we submit your purchase offer, you'll want to submit "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property and is typically put towards the cost of closing. If the seller accepts the offer, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate
A lot of deals don't close on the initial offer. It's widely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and go on.

The state of the market determines how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And when it's all said and done, we'll compose a contract that's best for you.

Step 7 – Secure a loan
Upon completion of the deal, you'll start working with your mortgage lender to close the loan. If you're already pre-approved, this shouldn't take much time at all. But you'll want 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
Your mortgage lender will send you a Loan Estimate (LE) of closing costs within three days of getting your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your loan application. This estimate rests on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and fall within a close range of accuracy. I'll study the estimate and let you know if it all looks permissible.

Then it's time to close on your home. This will likely take place at a title company or escrow office and will most likely be a smooth and relaxed occasion.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you call me at (818) 269-1966 or e-mail me at .

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