A house is an expensive investment, so you have to find ways to stay on budget. That is why most home buyers often prefer to have a real estate agent assisting them throughout the entire home buying process is advisable. But in some instances, purchasing a property without a real estate agent could be a cost-effective option. In fact, It may be your best choice if you feel confident in handling all the paperwork involved and are experienced with buying homes.
If you decide to push through with the home buying process without the help of a real estate agent, here are the steps you need to follow for a successful real estate transaction:
Tips Before Buying a Home in Los Angeles
- Apply for a mortgage. The first step you need to take is to get pre-approved for a mortgage. This way, you can determine your budget and show sellers you are serious when making an offer. In other words, this process makes your financing much less likely to fall through. To know how much house you can afford, feel free to use my home purchase qualifier. It is free, so you can take the first step of getting pre-approved and discovering your budget without shelling out money.
- Learn more about the neighborhood. Research about the area you are interested in since you will live there for months or years to come. Make sure it is safe and easily accessible to public transportation, your work, and various amenities. It’s also best to know the average selling price in the location and think about what you like most about in a neighborhood.
- Look for your ideal property. Once you have narrowed down your neighborhood options and settled on one, start looking for your ideal property. Search for houses within your budget, check for online listings, then visit the homes you are interested in, whether in person or through virtual means. You can also look for a list of upcoming open houses. You can request from the agent if there are no open houses scheduled. During the tour, take note of the property’s condition and features. Ask also for a seller’s disclosure, a list containing issues with the home. This way, you can consider all of this information once you make an offer.
- Make an offer. Make an offer once you are satisfied with the property’s condition. To make a reasonable offer, consider prices of other houses in the area, the home’s condition, and how long it has been on the market. Make sure to offer lower than the amount of money you are pre-approved for so you can have room to negotiate.
- Finalize home financing and closing. Finally, it’s time to close on the home loan once you agree with the seller. Your lender will send you a Closing Disclosure after the underwriting and appraisal get cleared. Once you have signed on all closing documents, you are officially a homeowner.
Buy a Home with Shannon Christenot
Buying a house without a real estate agent can be overwhelming, but it is doable as long as you have the necessary knowledge, experience, and negotiation skills. To increase your chances of having a successful and hassle-free house buying experience, remember and follow the steps listed above.
If you need help from the best mortgage company in Los Angeles, then you’ve come to the right place. I am Shannon Christenot, a mortgage broker who can connect you with a wide range of lending products that suit your needs. Contact me at (818) 601-2231 for a free mortgage rate quote!