Purchasing a home in Los Angeles is exciting and sometimes a little daunting. Having the right person by your side, and guiding you through the home buying process is crucial.
We know that buying a home is more than just investing in property, it’s investing in your dream life. That’s why our expert real estate agents work closely with our clients to match them not only with the perfect residential property, but the right neighborhood to suit their lifestyle, budget, and taste. Our agents will empower you with all the information you need to ensure that you not only find a beautiful home but your place in the Los Angeles community.
After selecting your real estate agent, the first step in the buying process is getting financial pre-approval. In today’s competitive market this step is crucial. We encourage all our buyers to set up a meeting with a mortgage broker prior to starting the search for their next home. We have a solid network of brokers we can refer you to. Once you have a pre-approval we can start the process of determining and analyzing your needs.
Besides your budget, we will ask you questions about the kind of home you are looking for, what kind of neighborhood and community you prefer and what your priorities are. These meetings will help to get your priorities & criteria crystal clear.
After we have a good picture of what you are looking for we will present you with a selection of properties and arrange for your first viewings. We will work hard to find the right homes that are on the market or coming to market soon.
When writing an offer we will sit down with you and answer any questions you might have about the offer process. We will discuss how to negotiate terms such as the term of escrow, appraisal, repairs, etc., and what to expect when your offer is accepted.
Once all these negotiations have been ironed out we will send you the final purchase agreement for signature. We prefer electronically as our business is becoming more and more paperless.
The Escrow Process
During the escrow process, you can expect the following to take place:
- Financing will be obtained, this involves a credit check, appraisal, a possible survey, and finally, underwriting.
- Inspections will be conducted; a good technical inspector will inspect the foundation, roof, plumbing, and electrical and test for possible termite infestations.
- Any issues coming from the technical inspection will be resolved
- Any encumbrances will be removed
- A title search will be conducted
- Title insurance will be obtained
After all of these boxes have been ticked we will remove all contingencies and obtain funds for closing. You will be invited to the escrow firm where you will sign all relevant documents.
The escrow process in Los Angeles usually takes 30 days but for some properties, it can take up to 60 days. Finally, escrow will be officially closed and you will take possession of your home.