Buying or selling a home? Pat Douglas Realtors can help.
Purchasing a home is an intimidating event for most people. However, with a little planning ahead of time, it's not very complicated.
I like to give buyers a road map of the entire deal so they know 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 about this information.
Before you start looking for a home, there are many things you'll want to consider. You'll want to form an index of features you want to have, plan for what neighborhoods and school districts you'd like to live in, and start planning around your budget. A good rule of thumb to go by is that your mortgage payment should be close to 30 percent of your monthly income. Step 2 – Get in touch with a real estate agent in Inglewood
This is where I come in. We'll arrange 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, school districts in the Inglewood area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll assist you in getting started on your loan. Pat Douglas Realtors partners with some of Inglewood's best mortgage professionals, so you can rest assured that you're in great hands. They can assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Start house-hunting
After we meet for the first time, I'll begin searching for available homes on the market that suit your needs. I'll get a sneak peek of many of the homes and ignore the duds, and then we'll set up appointments to tour the homes when it's convenient for you.
As we tour the houses, I'll call attention to good features, as well as negative ones. And I'll ask you to talk about things you like and dislike. Usually, buyers update their list of must-haves as we tour houses and some features become far more important than others. If that's the case, I'll search all the listings once again and trim it down to the home you've been dreaming about.
Step 4 – Understand the market
Your agent's awareness of the Inglewood home market is a crucial agent in your home search. And I assure you I'm informed of all the neighborhoods and schools, and I'll alert you to certain districts are "hot" and require prompt action and the ones that are "cold" and allow for more consideration.
When we tour houses, I'll make sure to communicate when the seller's list price has room for bargaining and when I believe the house is "priced to sell."
Every real estate agent will convince you they truly know the home market, but take notice, and make sure you ask a lot of questions.
If it seems like they don't know everything, call me at 323754-8283 or e-mail me at , and I'd be more than happy to answer any questions you have. My knowledge of the market will keep you a step above the rest throughout the entire process.
Step 5 – Find the home you've been looking for
We'll find your dream house in Inglewood, and when that happens, I'll thoroughly create your purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.
Step 6 – Negotiate the deal
Most contracts aren't closed on the first offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to take the counter offer, present our own counter offer, or decline the seller's offer and move on.
Step 7 – Obtain financing
Once we sign the final deal, you'll begin working with your lender to close the loan. If you've been pre-qualified, this won't take long at all, but you need to keep in close contact with your lender. And I'll deal with all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your application. The estimate rests on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks adequate.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply contact me at 323754-8283 or e-mail me at .