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Purchasing a home is probably the biggest financial decision you will ever make. Whether this is your first purchase or you are moving on to a different home that better meets your needs, this decision must be made carefully. When you work with the Cunningham Group, you’ll have a trusted real estate consultant by your side. We will help you understand the entire process, and ensure a seamless execution.
Asking the right questions will give us a better understanding of why you are moving and where you are at in the home buying process.
Why Do You Want To Buy? Are you tired of paying rent? Would you like a larger yard? Having a clear sense of your reasons for buying will help you choose the right home.Has Your Income Grown? Home ownership can be a very good investment. As you pay down the principal part of your loan, you are building equity over time in addition to any market appreciation on your property.
Can You Afford To Buy? Experts recommend spending between 33-40% of your income on housing. The tax benefits of home ownership can provide a considerable advantage over renting.Contact Us
Before you start shopping for your dream home, it’s a good idea to make some preparations
Build your ‘Green File’ A green file contains all your important financial documents. You’ll need it to secure financing for your home.
Check your credit rating Your credit score will have a huge impact on what type of home you can buy, and at what price. Anything above 620 is considered good. A premium interest rate may mean a lower interest rate on your mortgage. Check your credit rating with a credit reporting agency such as Equifax , Experian or Trans Union.
Be Careful With Your Finances Now is not a good time to make sudden career changes or large purchases. You want to approach home buying from a position of financial stability.
Having a team of agents who have lived in countless neighborhoods in Los Angeles. We have the knowledge to help understand the lifestyle you are trying to achieve and how to guide you to a perfect community for your family.
Take a Drive Get to know the neighborhoods you are interested in. Drive around and get a feel for what it would belike to live in the area. Start getting a sense of the homes available in those neighborhoods.
Narrow your search select a few homes that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long term re-sale value of the homes you are considering.
It’s time to buy once you’ve picked out the house that’s perfect for you, your real estate agent can help you make an offer that the seller will accept. A good agent will investigate the potential costs of maintenance and repairs on the house.Search Homes
The Cunningham Group has a unique advantage over other real estate agents in Los Angeles. Having a solid reputation and history of seamless transactions, other agents look forward to working with us.
We’ll want to review comparable home sales in the area and discuss attractive offer strategies.
You will need to select a title company which acts as a neutral third party holding all instruments necessary to the sale, including funds and deed. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. Some properties are subject to restrictions which limit various activities from building to parking restrictions. There may be recorded easements and encroachments, where others have limited rights to use your property.
You may wish to consult with an attorney or tax advisor on the best way to hold title. Different methods of holding title have different legal, estate and tax implications, especially when selling or upon death of the title holder.
Once your offer is accepted by the seller, you’ll need to have professional inspectors evaluate your home’s major systems. Your agent may recommend other inspections, such as roof, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist or mold.
A few days before you take over the property, we’ll do one last inspection to make sure everything is in order.
When your transaction is nearly completed, the title company will provide you with a “closing statement” that details all of the financial details of your home purchase. We will go over this with you to ensure its accuracy. At the last in the buying process, the title company will have you sign the final documents, including loan documents (“deeds of trust”).
We can help you with any of the details of your move and settling in. We have a large network of trusted experts we can bring in, including: movers, home designers, remodelers, electricians, etc.
You will want to set up all of the necessary utilities in your name. This will include: electricity, water/sewer, reuse, phone, internet, alarm, and other services in your area. If there is an HOA you’ll want to contact the office/point of contact as well. We can assist and provide phone numbers of preferred venders for whatever is needed.