A Buyers Guide To Houses In Eastside Of Los Angeles is the full and complete preview guide for what to expect in a usual 30-45 day escrow period. Supposing you are not paying just cash and command your own terms, the below process is typical.
Buying a home in the Eastside of L.A. is probably one of the largest financial commitments you will ever make. Now don’t let that freak you out.
Our Eastside Of L.A Real Estate Agents say, it’s best to not look at Homes For Sale In East Los Angeles as only dollars and cents, but instead as an investment in your life. If you do decide to purchase, our Eastside Of L.A Real Estate Agents are willing to be here every step of the way with you.
Step #1: Choose A Eastside of Los Angeles Realtor
An exceptional and professional Eastside of LA Realtor can assist you in the home buying process, and in addition make it a nightmare if they are not that great at their job or for whatever reason you have impacting personalities. Moreover, get referrals from family and friends, or check Yelp and Zillow reviews for Eastside of Los Angeles Real Estate Agent past client reviews. At the end of the day.
Additionally, try and meet with at least one or two Real Estate Agents In the Eastside of Los Angeles. Intuitively, if it feels right, give it a shot. The best aspect about it for you is that when working with a “Eastside Los Angeles Buyers Agent” you typically pay nothing out of your own pocket. Furthermore, the Realtor In the Eastside of Los Angeles is typically compensated at close of escrow through the sellers proceeds.
Hint: It doesn’t hurt to choose a Eastside of Los Angeles Agent that’s plugged into the area you’re searching to buy a property. What our Eastside of Los Angeles Agents mean by that is it doesn’t hurt to have an agent working for you that knows the area well, and plays nicely with the other Agents and Brokers in the Eastside of L.A. area.
Step #2: Get Pre-Approved
When you’re ready to search for houses for sale in Eastside L.A, our Eastside Los Angeles Real Estate Agents say we recommend going down the pre-approval process with a lender before even meeting with a Realtor in the Eastside of L.A. That is if you have a great relationship with your banker. Now-a-days a conventional Bank i.e Chase, Wells Fargo, or Bank of America have extremely competitive rates for first time buyers, owner occupied multi-family, and jumbo loans.
Mortgage Brokers are tech savvy and should have access to conceivably more lending programs and definitely more resources at their disposal; however, lately, our Eastside of L.A Realtors have seen better rates and terms coming out of the big banks.
Step #3: Improve Your Focus
When searching for Houses For Sale In Eastside Los Angeles, know what you are shopping for. We also suggest that you narrow down your search focus to one or two property types with a distinct budget in mind. Having been pre-approved by this point, you’ll know a little more about your borrowing and buying power. In addition, we suggest that you ask your local Eastside of L.A Realtor to send you the best new listings on the market that fit your needs.
Hint: We all want more than what we can afford. Baby steps to success is my new motto. Believe me, we are using this advice myself.
Step #4: View Properties
Now you’re searching for Homes For Sale In Eastside Los Angeles. By this point you should be reviewing property listings that your agent is sending you via email based on your search criteria.
Once you find a few spots that meet your demands, have your Agent in the Eastside of L.A set up tours and get a better sense of the market and neighborhoods. Walk the houses, kick tires. Ask questions. Get your Eastside Los Angeles Agent working for their commission. Then make your selection.
Step #5: Make An Offer
When you’ve discovered the proper property and you’re ready to pull the trigger on an offer don’t be hesitant. Depending on market conditions and whether it’s a hot property on the MLS or off market you may need to act immediately. Trust your Eastside L.A. Realtor to present the best offer for you and make you look like the best candidate in the Sellers eyes.
Step #6: Negotiate Terms
When searching for Houses For Sale in the Eastside of Los Angeles negotiating the terms are crucial and it’s common to have counter-offers from the other side of the deal. Be prepared to be flexible on price, closing dates, appliances, repairs, and terms.
Hint: If you’re working with us, this process is going to be as stress-free as possible for you.
Step #7: Open Escrow & Inspections
Once our Eastside of L.A Listing Agents get an accepted offer generally within 72 hours you’ll deposit 3% of the purchase price into an escrow account. That escrow will have a “neutral party” Escrow Officer in charge of the transaction, and will assist us every step of the way till closing day. Fees are nominal and vary from firm to firm.
Hint: Our Eastside of Los Angeles Buyers Agents work with the least expensive Escrow and Title companies in Los Angeles.
This is also your only time to have the property structure and systems evaluated. An experienced, outside professional General Inspector is worth every penny.
Hint: Our Eastside of Los Angeles Real Estate Agents write in offers for my buyers that Sellers pay for home warranty to cover appliances and systems that could breakdown up to one year after the close of escrow.
Step #8: Do A Thorough Walkthrough
When searching for Houses For Sale in the Eastside of Los Angeles make sure you do a final walkthrough before the loan funding and close of escrow. This is practically to make sure everything you thought was included in the purchase agreement has remained on property…and that the house is still standing in one piece.
Step #9: Close
At closing, you will review and sign the relevant closing documents. Then, after providing a cashiers check, certified check, or wire transfer for the downpayment and closing costs, the keys are passed to you and the property is yours!
Step #10: Move In!
Our Eastside of L.A Realtors say you need to make sure you turn on utilities and setup for internet and cable or whatever else is your pleasure. Nothing is worse than waiting a week for the WiFi to get turned on.
We hope this little rant has been helpful. Feel free to contact me anytime you have questions about houses for sale in Los Angeles, or want advice on selling the property you already have.