Looking to buy a home?
Here are three essential tips for making the process as smooth as possible.
By David Ivkovic, Realtor
Getting your pre-approval.
Going to open houses on the weekends can be fun, but unless you’re paying with cash, you’ll need to have your pre-approval letter in place to make a serious offer. It’s important to start this process right away. Getting your finances and paperwork in order can take time, and will give you a better idea of your purchasing power, and allow you to focus on homes you truly can afford. Or may tell you if you need to save up a bit more before buying.
Find a house you can afford.
It’s important to understand your budget. Some people will make big sacrifices just to get in the right neighborhood for a certain school district, or to be near work. If you don’t want to be ‘house poor’ it’s good to really work through your monthly expenses with your mortgage broker or bank manager. I work primarily with one mortgage broker who is great at walking you through the different financial scenarios, so you aren’t caught off guard once the bills start rolling in each month. Downpayment, closing costs, moving expenses, mortgage payments, new furniture, property taxes, energy costs, etc., can add up really quickly if you don’t have a budget to work off. For any mortgage related questions, contact:
Lyndi Mallory
Loan Officer Extraordinaire
323-877-4028 cell
424-325-0082 office
Lyndi@lyndiforloans.com
Hire a specialist.
I specialize in buyers, and have worked in all corners of Los Angeles and the San Fernando Valley. Doing your research on the neighborhood and local schools is key. But once it is time to actually make an offer, things can get tense. It is important to have a professional buyer agent on your side who has experience putting together a strong offer, can handle tough negotiations, knows the ins and outs of handling multiple offer situations, walking you through all the inspections and due diligence process. Negotiating repair requests, dealing with lender requests and underwriting, and ultimately getting final loan approval so you can rest assured you will close on time. Give me a call to find out how I can help make the home buying process more smooth.