July 13, 2024 Breaking News, Latest News, and Videos

10 Things To Consider Before Buying A Home:

Many buyers are not succeeding in this difficult “seller’s market” because of inadequate preparation and readiness.

Others do not succeed due to “analysis-paralysis,” or trying to analyze and rationalize too much. 

The following are highlights of perhaps the most relevant factors a potential buyer will benefit from based on having successfully represented nearly 400 buyers in the purchase process.

1) Timing is a critical factor. Be mindful of not waiting too long to begin the search process since the search may take more time than expected. Alternatively, identifying a specific property too early may be counter productive. It is wise, however, to become generally educated about the area and the inventory well in advance.

2) Finances set the limits.  Be sure to focus on the actual monthly costs rather than just on the purchase price, and begin shopping for a loan before writing an offer.

3) Location is (almost) everything.  Consider neighborhood noise and traffic issues at different times of the day, the condition and appearances of nearby homes, adequate parking on-site and in the street, driving distances to where you will frequently go, and proximity to schools and shopping areas.

4) Carefully consider the advantages of having an expert buyer’s agent on your side from the early phase of your process and be aware of issues that might be disadvantageous to you. There is value in having a seasoned agent who can help interpret and give perspective to the myriad of details that you will begin accumulating and one who can anticipate various challenges and assist you in working out solutions to problems along the way. Expect and be willing to give loyalty in return.

5) Learn as much as you are able to about the local real estate market. Do not, however, rely on online systems or sites for finding or estimating values, as they are frequently inaccurate by 10-25 percent and inconsistent from each other.

6) Request advance copies of the paperwork which will be used in presenting your offer, and become familiar with the basic terms such as key contingency periods.

7) Discuss various negotiation strategies and approaches with your agent so you are better prepared once you have selected the home you’d like purchase.

8) Inspections must be done in a timely way.  Discuss with your agent which ones they generally recommend and consider talking with a variety of inspectors in advance so you know which ones you prefer to use when a contract is signed. Many buyers have saved themselves a lot of money by having specialists check such aspects as sewer lines, chimneys, roofs, environmental issues, and termites.

9) Be watchful for property improvements that might have been done without proper city permits. Safety issues may be involved. Also, if you do later work with permits, the city inspector may require some other things be brought up to current code.

10) Be willing to compromise to some degree. It is rare for a buyer to find 100 percent perfection in the home they decide to buy, and differentiating between your actual “needs” from your “wants” and prioritizing can make an enormous difference in your success.

Michael Edlen has worked with several hundred buyers since 1986 and is available for buyer counseling through michael@michaeledlen.com or 310.230.7373. He also has an effective nationwide referral network that is helpful in identifying ideal agents to work with in buying or selling homes anywhere in the country.

in News
Related Posts

Summer at Annenberg:Swim Daily and Watch the Sunset

July 12, 2024

July 12, 2024

By Susan Payne A unique, inclusive community destination along the Pacific Coast Highway of Santa Monica is inviting you to...

Kroger and Albertsons Reveal List of Stores to be Divested in $25 Billion Merger

July 12, 2024

July 12, 2024

Eleven Stores in West Los Angeles Among Locations to be Sold  The Kroger Company and Albertsons Companies Inc. have announced...

Pizza Girl’s First Brick-and-Mortar Shop Opens Along Venice Beach

July 12, 2024

July 12, 2024

Its Owner, Caroline D’Amore, Has Made Several Film Appearances, Modeled, and Toured Internationally With Paris Hilton as a DJ By Zach...

This Homeless Santa Monica Resident Saved a Teenage Girl From a Vicious Attack

July 12, 2024

July 12, 2024

City Council’s Commendation for Wilker Was Made at Its Most Recent Meeting on July 9 By Zach Armstrong Santa Monica...

Santa Monica Launches Bitcoin Office to Educate and Innovate

July 11, 2024

July 11, 2024

New initiative aims to boost digital currency awareness, partnerships, and sustainable mining efforts The city of Santa Monica has unveiled...

Film Review: The Bikeriders

July 11, 2024

July 11, 2024

FILM REVIEWTHE BIKERIDERSRated R116 MinutesReleased June 21st, Still in Theatres, also online on Prime, Apple TV and other VOD platforms...

Both Drivers Have Been Identified in Fatal Malibu Crash on July 4

July 11, 2024

July 11, 2024

Collision on Pacific Coast Highway Leaves One Driver Dead Law enforcement officials have identified the drivers in the tragic accident...

(Video) Renowned Soprano Singer to Make L.A. Homecoming at Broad Stage

July 11, 2024

July 11, 2024

Golda is scheduled to perform on July 13 at 8 p.m. @smmirrornews This Saprano singer is set to take the...

Tartine Bakery Opens Venice Beach Location

July 11, 2024

July 11, 2024

A Throng of New Menu Items Are Exclusive to Tartine Venice By Zach Armstrong After more than two decades of going...

A Homeless Man in a Palisades Canyon Was Found With a Revolver. Its Property Owner Has Neglected the Site for Years

July 11, 2024

July 11, 2024

The Entire Canyon Is Now a Significant Fire Hazard, According to Officials By Zach Armstrong Within a Pacific Palisades canyon, one...

Council Approves Five-Year-Plan to Improve Big Blue Bus Services

July 10, 2024

July 10, 2024

The Initiative Aims to Expand Operating Hours, Improve Connectivity, and Create More Frequent Service By Zach Armstrong A five-year plan...

Santa Monica Has a New City Clerk

July 10, 2024

July 10, 2024

She Served as Interim City Clerk Since December Following the Retirement of Denise Anderson-Warren The Santa Monica City Council has...

Dine LA Restaurant Week Returns to Celebrate Culinary Diversity With Amazing Deals

July 10, 2024

July 10, 2024

Special Menus at Hundreds of Local Restaurants from July 12 to July 26 Dine LA Restaurant Week will be returning...

Reward Offered for Information on Abused German Shepherd Found Near Malibu Creek Canyon

July 10, 2024

July 10, 2024

Groups Seek Justice for Argon, Dog Discovered with Zip-Tied Mouth and Neck In Defense of Animals and Peace 4 Animals...

Palisades’ Vons Market Among Hundreds to be Sold Under Merger Plan

July 10, 2024

July 10, 2024

The Sale Is Intended to Satisfy Regulators The Vons supermarket in the Pacific Palisades, located at 17380 Sunset Blvd, is...