The Buying and Selling Process

House hunting is such an exciting time in a person’s life. The whole buying and selling process can seem stressful to some but with the right real estate agent it can be a memorable experience. When you decide to purchase a home you either are most likely moving out of a rental or parents’ house or you are selling a house. If you are moving out of a parents house or a rental there are a few things you have to have lined up before you can start looking for your house.

First you will need a preapproval from a lending institution. If you do not have a lender you can ask your real estate agent for a referral. Many realtors work closely with certain lenders and are more than happy to direct their customers in a certain lenders direction. Once you have been pre-approved you can take that letter to your real estate agent. A pre-approval letter will give your realtor an idea of what you can afford for a mortgage payment. Your agent will then have you look at houses that are within your budget. You do not want to purchase a house that is stretching your budget. You should find a house that is at the lower end of your budget to give you more flex room with your income in the event of surprise repairs. There are many real estate services Playa Del Rey CA and cities all across the United States. If you do not have a realtor you can ask a friend, family member or co-worker. Nearly everyone will have a real estate agent referral that they recommend.

Your agent will set you up with a MLS (multiple listing services) account. Every day you will be emailed various properties that fit your search criteria. Your agent will sit down with you and discuss your purchase price point. Once that is established they will then ask what type of home you are interested in. Buyers are typically interested in single family homes, duplex style homes, townhouses, condominiums, mobile homes or row houses. Your agent will want your house criteria. This will include the amount of bedrooms and bathrooms you wish to have in your home as well as bonus features. Bonus features include family rooms, basements, garages, fenced in yards and driveways. Once all criteria has been defined your agent will plug that into their MLS account. Every day houses that meet your exact criteria will be emailed to you. You will then have the option to like, dislike or select maybe when it comes to viewing the house. Around mid-week your agent will ask what day over the weekend you would be available to tour those houses that you selected yes and maybe for. After viewing your houses in person you can decide whether or not you wish to place an offer in on a house. Once you plan an offer on a house the seller can accept, reject or counter offer. The entire home buying process can take a couple of months but it is an exciting experience that you will remember for the rest of your life.