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

With a little up-front planning, buying a home isn't that difficult, but the event can be stressful for many people. I like to supply buyers with a road map of the entire deal so they 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 happy to address questions you have regarding this information.

Step 1 – Get ready to purchase
Before you begin searching for a home, there are many things you'll want to do. When you begin your search, you'll probably want to make a list of features you need, get a feel for what school districts and neighborhoods you'd like to live in, and begin working on your budget. Ensuring your mortgage payment is around 1/3 of your net monthly income is a good guideline to go by.

Step 2 – Talk to a real estate agent
That's where I come in. We'll schedule a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, schools in the Sherman Oaks area, the mortgage and housing industries, to any other economic factors that may affect your buying decision today or in the future.

I'll also assist you with getting started on your loan. Charise Michell, Estate Agent, Wish Sotheby’s International Realty, CalBRE#01425090 partners with some of the best mortgage professionals in Sherman Oaks, so you're in great hands. They will help you decide which type of loan is best for you, as well as help you get qualified.

Step 3 – Begin house hunting
Following our first meeting, I'll start searching for available homes on the market that meet your needs. I'll preview many of the houses and remove the duds, and then we'll schedule appointments to tour the houses whenever it's most convenient for you.

When we view houses, I'll point out positive features and bad ones. I'll even ask you to talk about things you like and dislike. It's common for buyers to amend their wish list as we view houses and some items become far more important than others. If that's the situation, I'll search the listings again and trim it down to the home of your dreams.

Step 4 – Get a grasp of the market
My understanding of the Sherman Oaks housing market is an essential factor in your house search. I'm conscious of all the school districts and neighborhoods, and I'll communicate some districts are "hot" and warrant immediate action and the ones that are "cool" and allow for thoughtful consideration.

As we tour homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the house is "priced to sell." Any real estate agent will convince you they truly understand the market, but trust your instincts, and make sure you ask plenty of questions. If it appears they don't know everything, just call me at (818) 269-1966 or e-mail me at , and I'd be glad to answer any questions you may have. My market expertise will keep you a step ahead throughout the entire deal.

Step 5 – Find your dream house
I know we'll find the house of your dreams in Sherman Oaks. When we do, I'll precisely develop your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies, such as acquiring financing, completing the inspection, and a clear title.

When sending in your offer, you'll probably need to submit "earnest money." This is a cash deposit given to a home seller to secure the offer to purchase the property, and it's often applied to the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days after. This allows enough time for your mortgage financing.

Step 6 – Negotiate the deal
Most contracts aren't closed on the initial offer – it's pretty common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and go on.

How aggressively we negotiate the deal depends on market circumstances. We'll also work within your budget. And at the end of the day, we'll assemble a deal that is best for you.

Step 7 – Obtain a loan
Once we sign the final deal, you'll begin working with your lender to close the loan. If you're pre-approved, this shouldn't take very long at all. However, you need to stay in close contact with your mortgage lender. And I'll look after all the property information your mortgage lender needs to close the loan.

Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) of your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining closing costs from your lender within three days of accepting your application. This estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a precise range of accuracy. I'll study the estimate and let you know if everything looks all right.

Then we'll close on your house. This should take place at a title company or escrow office and will probably be a smooth and comfortable occurrence.

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

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