Contemplating purchasing a home in Sherman Oaks?

Purchasing a home intimidates many people, but it isn't all that confusing with some planning ahead of time. I like to provide buyers with an overview of the whole deal so they'll understand exactly what they can expect. These are my nine steps to buying a home. When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have regarding this information.

Step 1 – Get ready to buy a home
There are several things you'll want to contemplate before you look for a home. You'll most likely want to put together a list of items you want, plan for what neighborhoods you'd like to live in, and start planning your budget. A good rule of thumb to adhere to is that your mortgage payment should be less than a third of your net monthly income.

Step 2 – Speak with a real estate agent in Sherman Oaks
This is where Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 comes in. I'd be happy to arrange a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans. We'll discuss everything from neighborhoods, schools in the Sherman Oaks area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.

I'll also help you begin the loan process. There are some very good mortgage professionals in Sherman Oaks, and I work with a lot of them, so you're in great hands. They can assist you with figuring out which kind of loan is best for you and help you get approved.

Step 3 – Begin looking
After our first meeting, I'll start finding available homes on the market that best suit you. I'll preview most of the houses and ignore the duds, and then we'll set up appointments to view the homes whenever it's most convenient for you.

As we view the homes, I'll show you the good features and negative ones. I'll even ask you what things you like and don't like. It's pretty common for buyers to revise their list of must-haves as we view houses and some things become more necessary than others. If that happens, I'll go back through all the listings again and trim it down to the house you've been dreaming about.

Step 4 – Get a grasp of the housing market
My understanding of the Sherman Oaks home market is a crucial aspect in your house search. I am informed of all the neighborhoods and school districts, and I will let you know what areas are "hot" and require prompt action and the ones that are "cold" and allow for careful analysis.

When we view homes, I'll let you know if the list price has room for negotiation or if I believe the home is "priced to sell." When working with an agent, be careful and make sure you ask plenty of questions. Any REALTOR in Sherman Oaks will claim to understand the housing market. If it doesn't seem like they know everything, call me at (818) 269-1966 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will help you stay a step ahead through the entire process.

Step 5 – Find your dream house
We'll find your dream home in the Sherman Oaks area, and when we do, I'll meticulously create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including several contingencies, such as getting financing, finishing the home inspection, and a clear title.

Upon presenting your offer, most likely you'll need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property and is often applied to the cost of closing. If your offer is accepted, we should close within 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, and it's extremely common to receive a counter offer. Don't let this intimidate you. We'll discuss whether or not to agree to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. In addition, we'll work within your budget. And when it's all said and done, we'll assemble a deal that works well for you.

Step 7 – Obtain financing
Once the deal is complete, you'll start working with your lender to close the loan. If you're already pre-qualified, it won't be a long process at all. However, you should to stay in close contact with your mortgage lender. And I'll deal with all the property information your lender will need 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 receiving your loan application. The estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a precise range of accuracy. I'll examine the estimate and let you know if everything looks good.

Then it's time to close on your home. This should occur at a title company or escrow office and is often a smooth and comfortable occurrence.

Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just contact me at (818) 269-1966 or e-mail me at .

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