Buying A Home – What You Need To Know – Sherman Oaks Real Estate

by Mario Acosta on May 5, 2011

in Buyers, First-Time Home Buyers

The Home Buying Process

Here’s a list of important things to know before buy Sherman Oaks real estate.

Get Pre-Approved

The first step in buying a home is to find out how much you can afford or qualify for.  Check your credit report to know your credit worthiness.  Clear up problems if any before going to a mortgage lender.  A good credit rating will result in you receiving lower interest rates.

Get pre-approved for a mortgage with a reputable mortgage broker or direct lender, with a commitment to fund your mortgage in writing.  Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage.  And finally, settle for comfortable monthly payments.  Once pre-approved for a loan, you will know your price range and we can begin shopping for Sherman Oaks real estate.  If you need a referral for a mortgage lender, please contact me for a list of preferred Sherman Oaks real estate lenders.

Have A Wish List

You should buy the real estate that is right for you.  Make a wish list of all the specifications you want in your home.  Prioritize them based on your wants and needs.  Then mark out those aspects that you are willing to compromise on, in case you need to.

Find An Expert

Working as your real estate consultant, I will assist you in locating a property in a desirable location.  I have extensive knowledge of Sherman Oaks homes and surrounding neighborhoods and know where to help you look for properties, while keeping your preferences and price range in mind.

Once I provide you with a list of properties that fit your price range, drive by to check the neighborhood.  Consider houses in locations that have good potential for future appreciation. Also, consider factors like safety, school districts, freeway access, recreational options, work commute time, shopping facilities etc.  Remember the Cardinal Rules of Real Estate:   Location, Location, Location!

Get Educated On The Local Market

Check out a sufficient amount of real estate until you develop a sense of comparative value of each neighborhood.  I can help you with the valuations.  Visiting the localities at different points in time–during the day is ideal.  This will help narrow down the list.  You might want to check each neighborhood during the morning commute, or after dark to verify that the neighborhood suits you.

When you have found a house of your choice, compare its price with other houses in the area.  I will provide a list of comparable sales and help you assess the value of the home.  If all looks good, I can prepare an offer on your behalf and submit it for the Seller’s review.

Have A Team Of Professionals

Lastly, I will guide you to be sure that you obtain any professional inspections necessary to answer any questions you may have about the property.  Some concerns may include: the condition of the roof, foundation, walls, plumbing, electrical, windows, etc.

Other concerns may be:  Is the property in a flood zone, or wildfire area.  Is the property subject to Mello-Roos?  Are there CC& Rs?  Are there any easements on the property, etc?  Working as your Real Estate consultant, I will assist you in answering these and other important questions you may have prior to closing escrow on your Sherman Oaks real estate.

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Post by Mario Acosta

Mario has written 117 articles.

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