Southern CA First Time Buyer Guidance

Selling Southern California Investment Properties

Purchasing real estate for the first time can be stressful. The Southern CA first time buyer guidance below may make it less confusing. Houses are a major investment and buyers should know the basics when beginning.

Before Starting a Property Search

Find a Reputable Lender

Interview a local loan officer and obtain a pre-approval. Different lenders may offer varying programs. Review the services and applicable charges to determine the best program. This give you a sense of the potential up-front and monthly costs of property ownership. This also helps determine your maximum purchase price.

Hire a Real Estate Professional

Find a real estate broker to guide you through the property buying process. Select someone that understands your needs. Knowledgeable Realtors will help identify properties, negotiate offers, and facilitate a less stressful transaction. This expertise can be essential first time buyers.

During the Real Estate Process

Real Estate Showings

Only see homes within your price range. This prevents the heartache of wanting a home that you cannot purchase. Viewing listings will take extensive time, so keeping to your limits will also preserve valuable time.

Offers

Real estate agents may offer guidance on offers and negotiating them, but they do not render legal advice. If you require legal counsel, think about employing a local real estate attorney to interpret terminology and request any necessary changes to them. It is important that you sufficiently understand the terms and obligations of any contract prior to signing them.

Property Inspections

Inspections are not intended for discussing price changes as they may not identify any problems at all. Also stay away from negotiating obvious issues. Such strategies often fail and result in wasted inspection costs. In situations where problems are uncovered, homeowners can offer to address problems, give closing concessions, or be unable to do anything. Try to be reasonable with your demands and sellers will be more willing to accommodate them.

Final Walk-Thru

Before the closing, you traditionally have an opportunity to walk thru the home one last time. It is a good idea to schedule this for after the sellers have vacated the property. Resolve any issues before completing closing paperwork as completing the closing expresses your acceptance of the property and its condition.

The Closing

All parties signing any documents must have acceptable identification. Any amounts owed must be certified. Also bring your checkbook for any last minute corrections. Once the settlement documents are put on record, the home is yours!

More Southern CA First Time Buyer Guidance

The property buying process will be less intimidating if you maintain an introductory understanding of what will take place. For details beyond what is included in this Southern CA first time buyer guidance, contact Matthew Rapoport at Homes Inc. by calling (213) 334-4141 or by emailing [email protected]