9 Steps to Buying a Home

Buying or selling a home? Westside Realty can help.

Purchasing a home can be stressful for a lot of people, but it’s not too confusing with a bit of up-front planning. I like to give buyers an overview of the whole deal so they know exactly what to expect. These are my nine steps to buying a home.

If you have any questions about any of this information or if you’re prepared to get started, just contact me here or send e-mail to drake@goosbyvaluation.com.

  • Step 1 – Get ready to purchase

    There are several things you need to contemplate before you start searching for a home. When you start your search, you’ll want to create a list of features you want, get a feeling for what school districts and neighborhoods you’d like to live in, and begin planning your budget. Ensuring your mortgage payment is no more than 30 percent of your net monthly income is a good rule of thumb to follow.

  • Step 2 – Get with a real estate agent in Santa Monica

    This is where I can help. I can set up 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 the mortgage and housing industries, other economic factors that may affect your purchase today or in the future, as well as neighborhoods and school districts in the Santa Monica area.I can also help you begin the loan process. I partner with some of the finest mortgage professionals in Santa Monica, so you can rest assured that you’re in great hands. They’ll help you determine which type of loan is best for you, as well as help you get qualified.

  • Step 3 – Begin looking

    After our first meeting, I’ll begin finding available homes on the market that are great for you. I’ll get a sneak peek of many of the homes and exclude the bad ones, and then we’ll book appointments to view the homes at a time that’s convenient for you.When we view houses, I’ll identify good features, as well as bad ones. I’ll even ask you about things you like and dislike. It’s widely common for buyers to update their must-have list as we view homes and some features become far more important than others. If that’s the case, I’ll go back through all the listings once more and narrow it down to the home you’ve been waiting for.

  • Step 4 – Get a feel for the market

    An agent’s understanding of the Santa Monica market is a crucial element in your home search. And I can assure you I’m acquainted with all the school districts and neighborhoods, and I’ll communicate what neighborhoods are “hot” and call for immediate action and the ones that are “cold” and allow for careful analysis.When we tour homes, I’ll let you know if the asking price has room for negotiation or if I believe the house is “priced to sell.” Be on guard and make sure you ask a lot of questions, as every real estate agent in Santa Monica will tell you they truly understand the housing market. If it seems like they don’t know everything, just call me at 424-777-9340 or e-mail me at drake@goosbyvaluation.com, and I’ll be happy to answer any questions you might have. My understanding of the market will help you stay a step ahead through the entire deal.

  • Step 5 – Find the house you’ve been waiting for

    I know we’ll find your dream house in Santa Monica. When that happens, I’ll thoroughly develop your purchase offer. The offer will be tailored exactly to your needs, including many contingencies, such as getting financing, finishing the inspection, and a clear title.

    Let Westside Realty guide you through finding your dream home in Santa Monica When we submit your purchase offer, you’ll probably want to present “earnest money.” This is a cash deposit made to the home seller to secure the offer to buy the property, and it’s usually applied to the closing costs. If your offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows enough time for your mortgage financing.

  • Step 6 – Negotiate

    A lot of deals don’t close on the beginning offer – it’s widely common to receive a counter offer. But don’t let this alarm you. We’ll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller’s offer and move on.

    Market circumstances determine how aggressively we negotiate the contract. In addition, we’ll work within your financing constraints. And at the end of the day, we’ll create a deal that works well for you.

  • Step 7 – Get financing

    A lot of deals don’t close on the beginning offer – it’s widely common to receive a counter offer. But don’t let this alarm you. We’ll talk over whether or not to agree to the counter offer, submit our own counter offer, or decline the seller’s offer and move on.

  • Step 8 – Close the deal

    You’ll get a Loan Estimate (LE) of closing costs from your lender within three days of receiving your loan application. This estimate is formed from the loan amount, and RESPA requirements mandate that it has to include all closing costs and fall within a precise range of accuracy. I’ll review the estimate and let you know if everything looks okay.

  • Step 9 – Move in

    Success! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, be sure to call me at 800-455-0277 or send me an e-mail.

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