BUYER GUIDE

The Team Louisa Edge

  • Louisa provides full real estate services for buyers, renters, and corporate relocations, commercial, financial, and investment consultants.
  • Her service is beyond real estate broker; she is a financial consultant, educator, and partner to the end user.
  • She will provide you with a survey commonly known as comparative market analysis, which consists of intimate knowledge and an intense study of property value considering appreciation, supply and demand, presentation, price-per-square foot comparison, and image.
  • She has access to over 20,000 property listings within over 20 different counties, updated continuously; 24 hours a day, seven days a week.
  • She will conduct all searches for properties that work with your criteria and will suggest a number of options to satisfy your housing and lifestyle needs, including types of property, different neighborhoods, types of amenities, and layout configurations.
  • If you haven’t pre-qualified for a loan, she will recommend and coordinate all activities regarding your financing of the prospect property.

Buyer Checklist

  • Evaluate your budget – know what you want to spend for a down payment as well as monthly expenditures (i.e.; maintenance or common charges and real estate taxes, monthly mortgage payment, utilities, parking, etc.)
  • Obtain mortgage pre-approval
  • Prioritize your needs – space, light, views, building amenities, etc.
  • Identify your timeline for moving
  • Explore different neighborhoods to identify your preferred needs
  • Research schools in the selected neighborhood(s)
  • Evaluate access to transportation in the selected neighborhood(s)
  • Evaluate complex amenities and HOA rules in terms of your needs (i.e.; washer/dryer permitted, gym in building, pet policy, storage facilities, etc.)
  • Work closely with your real estate agent to gather support materials for you mortgage application

Purchasing Process

  1. Seek pre-approval for a mortgage: Typical time frame: 1 – 2 days. You must know how much you can spend before you spend it.
  2. Find a home: Typical time frame: 1 week – 2 months. Touring houses for sale is one of the most enjoyable steps in buying a home. With the help of Louisa you can save time by limiting your search to homes that meet your financial and personal criteria. Depending on what you are looking for, the length of your search will vary. The average person sees 20 – 25 homes before deciding on one. Internet-savvy buyers save time by doing their ‘homework’ before their search. The average number of homes viewed before buying by our Internet buyers is 4 – 5.
  3. Make an offer: Typical time frame: 2 days – 1 week. Generally, in a sales transaction, a California real estate agent represents each buyer and seller. In California, making an offer on a home does not automatically obligate a buyer to purchase. Included in the offer are contingencies such as that the title to the home must be clear and the home must pass inspection by a licensed inspector. Louisa will assist you in making the most reasonable offer, based on his knowledge of the current real estate market.
  4. Negotiate on the home: Typical time frame: 1 day – 1 week. It is common to receive a counter offer from the seller, sometimes asking for a higher price or a division of the closing costs that is more favorable to the seller. At that point a buyer can accept the counter offer, submit a counter offer of her own or reject the counter offer at no penalty and continue house hunting. Everything is negotiable so inquire about assessments, fixtures, window replacements, air conditioners, rugs, floors, curtains, appliances, working fireplaces, washer dryers, etc.
  5. Get insurance: Before you will be allowed to close the loan and officially take ownership of your new home, you will have to buy homeowner’s insurance. A typical home insurance policy protects against theft, fire and liability, but if you live in an area of California prone to earthquakes, consider paying extra for a policy that will also cover earthquake damage. If you do not already have an insurance provider, Louisa can refer you to local agents.
  6. Closing: Typical time frame: 30 – 45 days. Closing is often referred to as “escrow” in California. The typical period for escrow is 30 days; however, you may have agreed to a shorter or longer escrow period during negotiations. During escrow the transaction process becomes finalized. Title records are checked for errors, taxes and other claims must be settled, loan and title documents are signed and the buyer is allowed a final walk through to make sure the condition of the property has not changed. After all the necessary paperwork is signed and filed and escrow has closed, the new owners receive the keys to their new home and are free to move in.

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