Are you finally ready to jump in to the real estate beast that is North Hollywood, CA? It’s best that you start planning now because it’s one of the most competitive home buying market in America, with a median price of around $650,000, according to Zillow.
Things To Consider
Our North Hollywood Realtors suggest that you set up time to meet a loan officer or mortgage broker to Pre-Approved immediately. They say that knowing exactly how much you can afford is crucial to the home buying process. Having a pre-approval also tells the seller that you mean business when making offers and will likely increase your chances of an acceptance. After you’ve obtained your pre-approval letter, it’s time to start shopping!
What Is A Buyer’s Agent?
Home buyers typically start their home search by diving into one of the three major real estate site such as Zillow, Redfin and Realtor.com spending hours upon hours digging through their desired areas. This leads them to hours lost at random open houses on the weekends until they eventually realize that they need a professional on their side to help guide them through the North Hollywood real estate mayhem. This is where a solid and reliable North Hollywood Buyer’s Agent brings value.
Authentic to the title, a buyer’s agent assists home buyers every step of the way from the home search, to making offers and throughout the entire escrow process until the deal closes. A highly attractive point is that a buyer’s agent is its FREE since the home sellers pay for all of the commissions through the proceeds of the sale.
With your dream home checklist hand, and budget framework in our mind our North Hollywood Buyer’s Agents can schedule appointments to tour properties, while explaining the pros and cons of a variety of homes and neighborhoods. Additionally, our North Hollywood Buyer’s Agents will refer needed professionals to assist in the home prep process, from repairs to staging, the mortgage process, to home inspections and lots more.
Now what? It is time for a list of what you want. What are your must haves? Bedrooms, bathrooms, size and location, style, etc . The must-have list simply outlines the basics of what you need in a home. Next, what are your wants and wishes; Pool, separate laundry area, outdoor patio, guest house, etc? The wish-list is what you would want to have, but are not necessarily what you must have.
Our North Hollywood Buyer’s Agents suggest that you take specific notes as you tour homes and make sure to include photos or videos of each property. Picture yourself living in this space — is there enough space for you to live your ideal life? Try to visualize all of your possessions in the home. Does the square footage meet your lifestyle needs? Do you get that feeling that this is the right home for you?
Once you find a home you love — it is time for you to make an offer! A buyer’s agent will advise you on the best offer price, contingencies and terms to present this to the listing agent. Their negotiating tactics and expertise as a North Hollywood Buyer’s Agents can surely help save you time and money, but most importantly you can avoid any potential mistakes that would result in you not getting the house you want.
Once your offer is accepted, the escrow process begins!
See Below A Diagram On The Escrow Process:
Now that the contingency period in your contract begins, this will give you a specific amount of time for you to do all property home inspections, your loan appraisal of the property and the signing off on all necessary disclosures.
Our North Hollywood Buyer’s Agent will assist you in putting together a variety of inspections to satisfy you in the condition of the property. They will also negotiate with the sellers to repair, pay for or credit any potential issues that come up as a result of any inspections.
The sellers have the options to either accept, reject or counter your request. Remember, our North Hollywood Realtors say everything in real estate is negotiable!
Once you have released all of your contingencies and are getting close to closing, you will sign loan docs with the aid of a notary, at the bank, the escrow office, or at the comfort of your home — almost done. After signing and transfer the funds to close escrow, your loan will fund within a few days and you will finally receive the keys to your new home. Keep in mind a successful escrow starts with a savvy Real Estate agent.