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The 4 Factors When Choosing Your Real Estate Agent

Professionalism

  • Full-Time Realtor 
  • 24/7 Accessibility
  • Expert Guidance 
  • Genuine and Competent
  • A Supporting Team

INTEGRITY DRIVEN

  • Strong Business Ethics
  • Reliability
  • Client Need Oriented
  • Honesty
  • Accountability

PROVEN NEGOTIATOR

  • Experience 
  • Confident Demeanor
  • Composure and People Skills
  • Creativity and Patience
  • Written Correspondence Techniques 

Skilled Networker

  • Large Relationship Database
  • Knowledge of Off-Market Deals 
  • Lives and Breathes Real Estate
  • Specializes in a Particular Area
  • Knowledge of Inventory 
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The Buying Process


Step 1

Choose your Real Estate Agent

 

Some buyers are under the impression that it is better to work with multiple agents instead of one exclusively. Creating a mutually loyal relationship will lead to your desired results much faster. Do you want to be the first on your agent’s mind, or just another phone call?

One of your largest investments deserves exclusive, catered and professional representation.  Please refer to the Four Attributes your buyer’s agent should have when determining how you should choose your real estate professional.

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Step 2

Getting Pre-Qualified

 

Getting pre-qualified is the process of considering the financing for your purchase. Are you an all-cash buyer or are you looking to get a loan? My Westside Home works with a few select lenders that specialize in different fields and can link you with someone for your specific situation.

Give a call to our preferred lender to give you a better idea of what purchase price is feasible for you.

Rick Lombardo
NMLS# 662155 

Contact Information:
Phone: 310-435-7439
Fax: 855-838-3494

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Step 3

Identify a Property

 

Your realtor will help you discover what you are truly looking for in a residence. Many buyers have many ideas of what they are looking for, but a great realtor will be able to go through these needs and educate the buyer on what is attainable in the area and price point you are searching for. A great realtor will also take the time to see all inventories that the buyer is interested in and qualify these properties to make the process as easy as possible.

My Westside Home helps to determine the true value that a buyer puts on certain aspects of a home, and through this process, helps their clients come to a decision that will leave them completely satisfied with their home purchase. My Westside Home also has a unique approach in discovering off-market and hidden inventory for their clients to completely perform their service both on and off-market.

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Step 4

Initial Offer And Residential Purchase Agreement (RPA)

 

Once a property has been identified and the buyer decides to move forward, a residential purchase agreement (RPA) will be written stating the intent and terms that are most adequate for the buyer for purchase. A great realtor will know the ins and outs of this contract and walk the buyer through every step leaving no question unanswered.

My Westside Home takes the time to walk their clients through every paragraph and page of the RPA so that the client knows exactly what to expect in the transaction. Also with the ample experience of My Westside Home, many intricacies of the RPA can be utilized to the buyer’s advantage to get the best possible deal. This is imperative in negotiating the best price as well as terms for the client.

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Step 5

Negotiation and Acceptance

 

During this negotiation process the buyer and the seller will go back and forth on the terms and price point for the subject property. Having a realtor who knows the area and has great market knowledge will fuel the buyer to the best possible purchase price. Negotiations at this time can involve everything from the sales price to many other terms that a knowledgable realtor will be able to guide the buyer through.

My Westside Home takes precedence in their negotiation tactics, in many cases beating out multiple offer situations or understanding how to leverage the sales price of a comparable property to the buyer’s advantage.

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Step 6

Inspections and Contingency Period

 

Once a buyer and seller reach agreement on the purchase price, the transaction will enter escrow and the buyer will submit their earnest money deposit (EMD). Once the deal is accepted by both parties, the contingency period begins and the buyer will start to do their due diligence on the home. This includes reviewing the disclosures provided by the seller about the area and home, as well as initiating the lender to begin processing the loan.

During this time, the buyer will also start his or her inspections on the property. Some of the inspections that should be considered are physical home inspection, sewer line, geological, mold, radon, drainage, structural engineer. Oftentimes buyers will get a physical inspection of the home from a home inspector and have the inspector recommend any additional inspections. A home inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing and electrical and then will refer if anything needs to be looked at by a specialist. Many times buyers will not perform all inspections, but doing as many inspections as possible will be the only way to know the most about the property you are purchasing.

After taking these steps, the buyer will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions. Once the request for repair is complete and the buyer removes contingencies, the transaction is very close to close of escrow.

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Step 7

Removing Contingencies and Closing of Escrow (COE)

 

The buyer has now removed contingencies and the transaction has officially moved from “Backup” position to “Pending”. At this point, the buyer has stated that they are content with the condition of the property and are willing to move forward with the purchase. Once contingencies are removed, the Earnest Money Deposit (EMD) officially goes hard. This means that the buyer has removed contingencies and essentially is releasing the deposit to the seller as the next necessary step for escrow to close.

During and after this time, the buyer, if receiving a loan, will speak with lender and ensure that all documents are complete for proper wiring of closing funds. At this point, the buyer and his or her agent will work on the proper steps to get situated in the new residence, such as organizing movers and ensuring a seamless transition to the new property.

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Step 8

Closing

 

At closing, all the final paperwork is executed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded. Prior to closing, the buyer will receive a settlement statement outlining any fees which may apply. After closing is finalized and the transaction is recorded, the home officially has a new owner!

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Escrow

 

Escrow’s role is to act as the third party in the transaction and manage, explain, and coordinate the completion of all necessary forms required by the city and transfer of title for the deal to close smoothly.

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Title Insurance

 

At the beginning of escrow, the buyer will receive a Preliminary Title Report that defines all the legal aspects of the property he or she is purchasing. The report will also detail the property history and legal description for the buyer and lender to ensure there are no legal encumbrances between a new owner and the property being purchased.