Home Buyer Tips

LOS ANGELES HOME BUYER’S TIPS

Below we have put together a short list of insider tips to make the LA home buying experience more pleasant and stress-free. If you have any questions, please contact me today.

PREPARING FOR THE HOME LOAN PRE-APPROVAL

It is a good idea to prepare for the home buying process by gathering some of your most important documents. We have provided a short list of documents that we recommend you have ready for your lender. You mortgage broker will be able to provide you with a complete list of documentation that they will require.

- Financial and investment statements
- Checking and saving account statements
- Copies of your credit card statements
- Auto loan and other loan statements
- Copies of your most recent pay stubs
- Copies of your tax returns for the last two years

In addition to the above documents, we suggest requesting a copy of your credit report from the three main credit reporting bureaus, Experian, Equifax, and TransUnion. Your credit score will also have an impact on your loan amount. We recommended checking your credit score with an experienced lending institution.

CONSIDERATIONS WHEN VIEWING A POTENTIAL LA HOME

Here are a few thoughts to consider when you are out viewing Los Angeles homes. These suggestions will help make the home buying process easier, more efficient and hopefully, assist you in narrowing down your choices.

- Does the home meet your needs (features you must have)?
- Does it have the minimum number of bedrooms and bathrooms you require?
- Does the home satisfy your wants (features you would love but can forgo)?
- What is the general condition of the home (has it been well maintained)?
- Will the home need any major repairs, remodeling or renovations?
- Is there anything that may need to be replaced in the near future?
- What do you like most about the home?
- What do you like least about the home?
- Can a dislike be changed with a renovation project now or in the future?
- Are the other homes in the neighborhood well maintained?
- Do you like where the home is situated within the neighborhood?
- Does the neighborhood have what you want (shopping, parks, schools, etc.)?

TIPS FOR GETTING YOUR OFFER ACCEPTED

In the competitive LA housing market, you need every advantage you can get in order to have your offer accepted. With little inventory in the LA housing market, buyers are competing for the same homes. These tips will help your offer stand out among the competition.

- Be pre-approved and ready to make an offer promptly on a home you want.
- Present an aggressive offer without paying too much.
- Have a strong pre-approval letter and down payment ready to go.
- Waive contingencies if you are able to do so. This involves some element of risk.
- Cash is king. Sellers love all cash offers. If you can pay cash, it eliminates financing issues.
- If you are getting a loan, a larger down payment may help reduce financing issues.
- Increase the amount of your good faith deposit.
- Work with Jack Bremen to represent you throughout the entire process.