Are you purchasing a new home in Redondo Beach? Erik Berry can help.
With a little up-front planning, purchasing a home isn't very confusing, but the event is intimidating for many people.
So they understand exactly what to expect, I will furnish buyers with a road map of the whole deal.
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 answer any questions you have regarding this information.
Step 1 – Prepare to buy a home
Before you begin looking for a home, there are a lot of things you'll want to consider.
You'll most likely want to create an outline of items you want, get a feel for what neighborhoods you'd like to live in, and start planning around your budget.
A good guideline to adhere to is that your mortgage payment should be no more than 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where Erik Berry can help.
I'd love to set up a time to meet with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and schools in the Redondo Beach area.
In addition, I'll assist you with getting started on your loan.
I work with some of Redondo Beach's finest mortgage professionals, so you can rest assured that you're in great hands.
They can help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Begin house hunting
Following our initial meeting, I'll start searching for homes on the market that are great for you.
I'll research most of the homes and eliminate the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
As we tour homes, I'll show you the positive features, as well as negative ones. I'll also ask you about things you like and don't like.
It's widely common for buyers to change their must-have list as we view homes and some items become more substantial than others.
If that happens, I'll go back through all the listings once again and trim it down to the home you've been waiting for.
Step 4 – Know the market
An agent's knowledge of the Redondo Beach housing market is an essential component in your home search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I will alert you to what areas are "hot" and warrant prompt action and some that are "cold" and allow for careful consideration.
As we view homes, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR will claim to know the housing market, but beware, and make sure you ask your agent lots of questions.
If things don't add up, call me at 3107804422 or e-mail me at , and I'll be more than happy to answer your questions. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm sure we'll find your dream house in the Redondo Beach area. When we do, I'll thoroughly develop your purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, carrying out the home inspection, and a clear title.
Upon turning in your purchase offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property and is typically put towards the cost of closing. If your offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the first offer, and it's really common to receive a counter offer. But don't let this intimidate you. We'll talk about whether or not to accept the counter offer, submit our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your budget. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Get a loan
After the deal is finished, you'll begin working with your lender to close the loan.
It won't take long at all if you're pre-approved, but you'll want to stay in close contact with your lender.
And I'll take care of 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 accepting your application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your loan application.
The estimate is based on the loan amount. RESPA requirements require that it has to contain all closing costs and be within a close range of accuracy, and I'll examine the estimate and let you know if everything looks okay.
Then we'll close on your house. This will probably take place at a title company or escrow office and is often a smooth and comfortable event.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, make sure you contact me at 3107804422 or e-mail me at .