Home Buyers
Why Work With Modern Homes Los Angeles?
The details involved in home buying – particularly the financial details – can be daunting. As a real estate practitioner well-versed in local customs and requirements, I can guide home buyers in Los Angeles through the entire process and make your experience stress- and hassle-free. I know all about the important things you’ll want to know about your new neighborhood, including the quality of the schools, the number of children in the area, crime statistics, the best restaurants, and more! Working with an agent experienced in our local market is the surest way to secure the best investment in your new home.
I can help you find and tour homes both on and off our local Multiple Listing Service. I can also help you define the price range you can afford and remind you about those hidden costs and benefits of homeownership that you might forget to consider. With immediate access to homes as soon as they come on the market, I will save you hours of wasted driving-around time.
When It Is Time to Make an Offer, I Will Point Out Ways to Structure Your Deal to Save You Money.
I will explain the advantages and disadvantages of different types of mortgages, guide you through the paperwork and answer last-minute questions and concerns as you sign your final papers at closing.
Perhaps best of all, I have a complete Rolodex of trusted partners at your disposal, including mortgage professionals, moving companies, veterinarians, and a host of other professionals, to make your transition as smooth and pain-free as possible.
How much does all of this cost you? Not a thing! The seller pays for my services. But don’t worry about my loyalties – I am YOUR advocate throughout the entire process.
How Can We Help You?
Choosing Your New Home Modern Homes Los Angeles
When you are touring prospective new homes, it is critical to distinguish between a home’s “skin” and its “bones.” The “bones” are the aspects of the home that cannot be changed – location, lot size, physical configuration, environment (social & physical), schools, and other fixed features.
The “skin” of the house, on the other hand, represents superficial qualities like carpet and paint color, wallpaper, landscaping, and window coverings. While the skin can be readily changed, it is beneficial to your budget to consider the related costs.
In evaluating your prospective new home, it is often more important to evaluate bones than skin of the house because a properties' skin can be changed to suit your particular needs and tastes. Along these same lines, don’t get too taken with a house’s decor if your furnishings are radically different. To the fullest extent possible, try to imagine the house empty and “skinless.”
We Can Help You See the Bones Through the Skin.
Please tell us a little bit about your needs.
Creating Your Wish List Modern Homes Los Angeles
We help you choose the best real estate professional to represent you in the home buying process. It is important to understand your objectives to present these to prospective agents and evaluate their ability to help you meet your goals.
One of your primary objectives will be to secure a home that will meet your family's needs. Here are a few things to consider:
Community
What is important to you? Proximity to employment? Proximity to schools? Is shopping or public transportation important? Do you prefer the peace of a rural or suburban community or the hustle and bustle of city life? Who are “your people,” and where do they live?
Schools
Are schools an important consideration for your family? What do you want? Diversity? Proximity? Excellent testing scores?
How Long Will You Live In This House?
It’s never too soon to contemplate your exit strategy from this new investment. Understanding your expected time horizon in this home impacts many issues, including mortgage alternatives, resale implications, and the amount of space you need.
Price
It is critical to understand what you can comfortably afford to pay for your home. Use our calculators to help you determine this number, or tap into my expertise to help keep your home purchase within your budget.
Need Help Turning Your Wish List Into Your “realty?”
Please tell us a little bit about your needs.
The Importance of Mortgage Pre-approval Modern Homes Los Angeles
Pre-qualification
Pre-Qualification is an informal way to see how much you might be able to borrow for your new home. You can get “pre-qualified” over the phone with no paperwork by telling a lender your income, your long-term debts, and how large a down payment you can afford. Based on this unverified information, the lender will not commit to lending to you, but you will have a ballpark figure for how much you can spend on a house.
Pre-approval
Pre-approval is a lender’s actual commitment to lend to you. The process involves assembling our financial records and going through a preliminary approval process that can take up to a couple of weeks.
Why Get Pre-approved?
Pre-approval provides you a definite idea of what you can afford and shows sellers that you are serious about buying. In addition to documenting your financial ability to close on a transaction, pre-approval shortens the time needed to close on a loan and makes you a more attractive buyer for sellers who want a quick and efficient escrow.
Don’t Know Where or How to Start the Pre-approval Process? Don’t Worry.
Tell us a little about yourself, and we can help you get started. We have trusted mortgage professionals of the highest caliber on our team.
Escrow Basics Modern Homes Los Angeles
Escrow is the process where a neutral, third-party is hired to gather all the information needed by the parties to close the transaction, including receiving funds and documents, completing and filing required forms, and obtaining release documents for any loans or liens that are paid off as part of the transaction.
Typical Documentation Collected by the Escrow Agent/holder Includes:
Upon completion of all escrow instructions, the closing can take place. All outstanding payments and fees are collected and paid, and title to the property is transferred and the title insurance issues, as dictated by the escrow instructions.
An Escrow Agent/holder Does the Following:
An Escrow Agent/holder Does Not Do the Following:
Understanding Closing Costs Modern Homes Los Angeles
There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable. As I negotiate the purchase contract on your behalf, I will strive to achieve the selling price that you want and limit the number and amount of closing costs for which you are responsible.
Good Faith Estimate
Buyers will receive a “Good Faith Estimate” of closing costs when the loan application is submitted to the lender. The estimate is based on the loan officer’s experience and may not include all the closing costs. I am happy to review the Good Faith Estimate and provide comments based on my experience.
Standard Closing Costs
Loan-Related Costs:
Tax-Related Costs:
Insurance-Related Costs:
