Are you purchasing your home in Beverly Hills? Compass can help.

Purchasing a home is intimidating for a lot of people, but it isn't too complex with a bit of up-front planning. I like to provide buyers with a road map of the entire deal so they know exactly what they can expect. Below are my nine steps to buying a home. When you're ready to get started, simply contact me here or e-mail me at . I'm happy to answer any questions you have regarding this information.

Step 1 – Prepare to purchase a home
There are a lot of things you should take into account prior to commencing your home search. When you start your search, you'll probably want to assemble a checklist of items you need, plan for what neighborhoods and school districts you want to live in, and start working on your budget. Ensuring your mortgage payment is less than or around a third of your monthly income is a good rule of thumb to follow.

Step 2 – Talk to a real estate agent
This is where Compass can help. I'd like to plan a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll discuss neighborhoods, schools in the Beverly Hills area, the mortgage and housing industries, and any additional economic factors that may potentially affect your purchase today or in the future.

I'll also help you begin the loan process. Compass partners with some of the best mortgage professionals in Beverly Hills, so you can rest assured that you're in great hands. They will help you decide which kind of loan is best for you, as well as help you get approved.

Step 3 – Begin looking for a home
Following our initial meeting, I'll begin looking for available homes on the market that meet your needs. I'll preview most of the houses and ignore the bad ones, and then we'll set up appointments to view the houses whenever it's convenient for you.

As we tour homes, I'll identify positive features and bad ones. And I'll ask you to point out what things you like and don't like. It's pretty common for buyers to change their must-have list as we view homes and some things become more necessary than others. If that's the case, I'll look through all the listings another time and trim it down to the house you've been waiting for.

Step 4 – Understand the market
My understanding of the Beverly Hills housing market is a crucial factor in your house search. I am mindful of all the neighborhoods and schools, and I will let you know some neighborhoods are "hot" and call for prompt action and some that are "cool" and allow for careful consideration.

As we view houses, I'll be sure to tell you when the seller's asking price has room for bargaining and when I believe the home is "priced to sell." Every REALTOR will tell you they understand the home market, but be wary, and make sure you ask your agent plenty of questions. If it seems like they don't know everything, call me at 818.516.0011 or e-mail me at , and I'll be happy to answer any questions you might have. My knowledge of the market will help you stay a step ahead throughout the entire deal.

Step 5 – Find your dream home
I know we'll find the home of your dreams in Beverly Hills. When that happens, I'll carefully develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies. A few examples are acquiring financing, completing the inspection, and a clear title.

When submitting your purchase offer, you'll probably want to present "earnest money." This is a cash deposit given to the home seller to secure an offer to buy the property. The amount is often put towards the closing costs. If the offer is accepted by the seller, we should close about 30 to 60 days afterward. This allows ample time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals aren't closed on the first offer – it's really common to receive a counter offer. Don't let this alarm you. We'll talk over whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and move on.

Market conditions will play a big part in how aggressively we negotiate the deal. In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a contract that is best for you.

Step 7 – Get your loan
Upon completion of the deal, you'll begin working with your lender to close the loan. If you're pre-qualified, this won't be a long process at all. But you'll need to keep in close contact with your lender. And I'll sort out all the property information your lender needs to close the loan.

Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of your closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of getting your loan application. This estimate depends on the loan amount. RESPA requirements require that it has to involve all closing costs and fall within a close range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.

Then we'll close on your home. This will likely happen at a title company or escrow office and will probably be a smooth and hassle-free occasion.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, make sure you call me at 818.516.0011 or e-mail me at .

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