Home Buying in Willowbrook>Question Details

Sugaroe55, Other/Just Looking in Compton, CA

I need step by step on what to do to be able to buy a home. Can anyone help? There's too much fraud out there.

Asked by Sugaroe55, Compton, CA Fri Oct 28, 2011

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Raymond Garcia’s answer
Did anyone address the issue of fraud? Out of curiosity, what fraud are you refering to?

If you want to avoid fraud, use a competent Realtor. Period.

In this country we have what's called "Buyer Beware" that means you are to do "DUE DILLIGENCE" prior to making a purchase. A lot of people get caught in scams due to being greedy, and others are just naive.

If you are unsure of what you're doing, then hire a proffesional, just like you hire a lawyer or a doctor or a home builder. Realtors are proffesionals that will help eliminate the guesswork.

Some people don't believe in Realtors--their perogative, it's a free country.

I believe you got plenty of good answers on the steps to take to buy a home. Now, take the next step and do it.


Good Luck,

Ray Garcia
617-942-0447
http://www.southshorehomesma.com
0 votes Thank Flag Link Thu Nov 24, 2011
Sugaroe55, yes you make a good point real estate is an industry that makes it challenging to separate the snake oil charmers from the true professionals. Real estate is field that allows individuals with different backgrounds and knowledge to enter and flourish by developing their skills and knowledge. How do you distinguish a true professional? How do you get started along the path of home ownership?

First, start with getting pre approved by a lender. This application process with ask you a series of questions and require that you provide a file of information. These steps will help you to organize your personal financial picture.

Second, sit down and create a list of features and amenities that you'd like in a home. Next to each feature, figure out if it is negotiable or not. For example, you'd like a dining room, do you have to have a dining room? Or you'd like a two car garage. You realize that you are not willing to give up on this feature.

Third, Visit OPen Houses in your area and see which homes you like.

Fourth call a real estate company and ask for a buyer's agent. Ask you firends and lenders for recommendations. As you partcipate more and more in the process you will become more educated and able to discern what is important to you. Good luck.
0 votes Thank Flag Link Tue Nov 22, 2011
Sugaroe55,

Your question gets asked so frequently by so many that I created a short video about this and you can find it at the link below.

Best of luck,

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Mon Nov 21, 2011
Yes I will be Thrilled to Help you-
1. You need a Professional Agent to guide you every step of the way
2. You will need a Bank Approval-before you start looking- I can connect you with a Banker that is very good and he can provide an approval pretty quick.
3. Once you find a house-A real estate agent will write an offer with you and then connect you with a Home Inspectior if you choose to have a Home Inspection (which I recommend) The contract is continguent upon the Home Inspection. When you find a house I will pull up comps to make sure you are not over paying for the property. I will also connect you with a Real Estate Attorney to make sure everything is up to date with the property- meaning no judgements, liens etc... Please feel free to contact me anytime 391-5082
0 votes Thank Flag Link Mon Nov 21, 2011
While contacting an a good agent is important, the very first thing you need to do is check yourself. Are you ready? Have you got enough cash to handle a down payment and closing costs? Do you have a personal budget and a grasp of your ability to make a monthly house payment? Do you know what area of town you want to look for a home? What size and type of home are you looking for? Why do you want to buy a home? Do you have any special needs or wants associated with your new home? When you have the answers to these questions nailed down you are ready to contact an agent and a lender. Find an agent you'd like to work with and let them know the answers to the questions above. A good agent will take those answers as a starting point to ask even more specific questions to help you determine what you are looking for. Next, get pre qualified for a loan! Unless you are paying all cash, there is no point in looking at homes until you are pre qualified for a loan. Here again a good agent can provide you a list of lenders to choose from to help with this process. With your pre qual. letter in hand, now you can go look at homes. When you find the home you would like to purchase, your agent will submit your offer to the seller along with your earnest money in the form of a sales contract. From here each transaction becomes unique but it boils down to counter offers, inspections, contingencies, loan documents, scheduling the closing, etc. This is where your agent earns the commission.

Good luck and happy home hunting!
0 votes Thank Flag Link Sun Nov 20, 2011
Hi, yes call one of us listed here. We can find you a specialst in your area, help you get pre-approved so you know what you qualfy for and help you be on your way to your fist home! Its a wonderful thing owning not renting and giving your money away.

Lillie Mssbrenner
Better Homes and Garden
Cell. 925-628-9100
0 votes Thank Flag Link Fri Nov 18, 2011
Contact a REALTOR in the area where you would like to purchase a home. They can also give you referrals for mortgage brokers and lenders to get you pre-approved for a home loan.

I am local here in the South Bay and have excellent mortgage brokers I work with that also have down payment assistance programs in addition to all the other available loan programs.

Give me call if you would like more information

Monica Hernandez, REALTOR, SFR, CDPE
Bankers Realty Exclusive, Inc
22730 Hawthorne Blvd Suite 102
Torrance, CA 90505
310-293-3335 cell
310-421-1509 E-Fax
CA DRE License #01239118
0 votes Thank Flag Link Wed Nov 16, 2011
Go sit down with a Realtor. Ask friends or family for recommendations. When you sit down with them explain that yo are a first time buyer and would like them to explain the process to you. Ask them some questions about themselves, You want someone who has been in the business at lest 5 years and who can document that they have closed t least 10 transactions a year.

You should also contact a local mortgage lender and speak with them about getting pre-approved for a mortgage so that once you find a broker you feel comfortable with you're in a position to begin actively looking for a home.

I wish you all the best and happy home hunting.
0 votes Thank Flag Link Wed Nov 9, 2011
Hello,
Please look over my blog. I have written some stuff for first time buyers to help them understand the real estate market and requirements.
I would love to answer any questions your might have bout the real estate market.

Look forward to hearing from you.

Thank you.

David Akram
Realtor, DRE# 01891274
661-505-8550
Century 21 All Moves
Web: http://www.DavidNewHome.com
Blog: http://blog.davidnewhome.com
Web Reference: http://www.DavidNewHome.com
0 votes Thank Flag Link Wed Nov 9, 2011
Hi Sugraroe55

I designed some material that I give to my buyers when I have a consultation with them. It explains the step by step of the buying process and what to expect throughout the process. Let me know if you think this can help.

Thanks
Mimi
Web Reference: http://MimiDaviesHomes.com
0 votes Thank Flag Link Fri Nov 4, 2011
Forget about the vip badges meaning anything. I went from vip2 to vip3 in 2 months. It proves nothing except someone can post a lot. Quality is not so important in getting that reward. I even have 2 blogs talking about the vip badges. One shows how I went quickly to vip3 and the other shows the actual pictures you get so you can post a vip 1,2, or 3 poster on your wall.

Again, vip badges mean nothing regarding quality. It only means people have posted a lot. If I desired I could post enough in 3 days to have my vip3 badge show up again.
0 votes Thank Flag Link Wed Nov 2, 2011
Take a look at the links below. They give a good way to start.

First you figure out how much you can spend a month. After that contact a lender to see what you qualify for.
http://www.trulia.com/blog/dan_chase/2011/04/how_to_determin…

Then make sure buying makes more economic sense than renting would
http://www.trulia.com/blog/dan_chase/2010/01/does_it_make_mo…

Then consider some hidden advantages renting gives you.
http://www.trulia.com/blog/dan_chase/2010/02/why_rent_if_you…

This will give the basic house buying process from beginning to end.
http://www.trulia.com/blog/dan_chase/2010/01/its_your_first_…

This shows tings to do if you will be a year or more before you can finally afford to buy a house.
http://www.trulia.com/blog/dan_chase/2010/01/i_want_to_buy_a…

I hope those helped you.
0 votes Thank Flag Link Wed Nov 2, 2011
Hi Sugaroe55,
First save your money for a 20% downpayment. Good Luck
0 votes Thank Flag Link Mon Oct 31, 2011
Dear Sugar,
What you really need is an excellent buyer agent to help you. Some reators specialize in first time buyers so try to find one in your area that does. This site is a good place to start you can read the profiles and then call the agents for an interview.
0 votes Thank Flag Link Mon Oct 31, 2011
Your best bet is to connect with a good Realtor in the local area. They can provide a wealth of information to you and help you step by step through the process of buying your new home.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-586-0364
0 votes Thank Flag Link Fri Oct 28, 2011
Sugaroe55,

I created a short video that walks you through the first steps. You can find it at the link below.

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Fri Oct 28, 2011
1) Save up enough money for a down payment which is typically 20% of a home's price. If you get an FHA loan the % drops to 3.5. Talk to your Mortgage Broker about what would be appropriate for your financial situation.
2) Search on and offline for a respected real estate agent. Finding an honest agent will help "fraud" all the way through the process because they can connect you with other respected agencies - for instance a Mortgage Broker.
3) Meet with a highly recommended Mortgage Broker regarding your financial position. Going with your bank (Wells Fargo, BofA) isn't always the best idea. Your Mortgage Broker will help you get pre-approved for a home loan.
4) "Pre-approval" is your first major accomplishment. This gives you the power to place good offers on the homes you're interested in.
5) Prepare for an Earnest Money Deposit. Earnest Money is cash given by the buyer (You) to the seller when you place an offer. You will either get this money back or, if you break the contract, you will forfeit the money to the seller. To learn more about this go to my blog.
6) Search Search Search using your agent and online search engines. I recommend Zillow and Realtor.com.
7) Discuss ways in which you can place strong offers on the homes you're interest in with your agent.



These steps should put you in a strong position to acquire a great home. Best of luck!
Web Reference: http://www.joshdayley.com
0 votes Thank Flag Link Fri Oct 28, 2011
Hey Sugaroe55,
You could either call one of us to personally help or try a non-profit organization like

http://www.nhslacounty.org/find-your-home

Good luck,
Doug
(323) 285-8864
0 votes Thank Flag Link Fri Oct 28, 2011
On the right side of this page, there are some pictures with the Title "Meet the VIP's"
Under that you can search for VIP's by entering COMPTON, CA and SEASRCH.
You can see all the Trulia - VIP's in Compton: You can see their picture, read their PROFILE and their RECOMENDATIONS.

That us your start.

Good luck and may God bless
0 votes Thank Flag Link Fri Oct 28, 2011
First step. Find a Realtor in your area you are comfortable working with. A buyers agent shouldn't cost you anything (they typically get paid by the seller), and a properly experienced agent will be able to guide you safely through the process so you don't need to worry about things. This isnt the type of thing you should try to do without an experienced professional looking out for you, and since it won't cost you anything there is no reason not to do it.
Web Reference: http://JenniferMu.com
0 votes Thank Flag Link Fri Oct 28, 2011
Sugar,
Search websites like Trulia or ReMax.com and download the FREE buyers guide available from each. This of course is a 'global' document but will get you familiar with the terminology and the sequence.

Its a great time now to contact a real estate professional in Compton Ca. They are not difficult to find. :)
Your real estate professional can review with you the common practices in your area and the types of properties available and the ones most suitable for your current objectives.

Eventually you will need to address the money issue. Often the financing options will limit the kind of property you can purchase.

As much as you want to avoid it, you will actually have to reach out and touch someone. Otherwise, no one has a vested interest in your needs.

Best of success in finding your new home.
Web Reference: http://www.Remax.com
0 votes Thank Flag Link Fri Oct 28, 2011
I would be happy to walk you through the process. Please feel free to contact me anytime. I also have a great, and honest, lender I can put you in touch with to get you pre-approved and ready to make a move once we find the perfect property for you.

Best Wishes,

--
Eric Smilay
West Los Angeles Realty
T: 310.600.9172
SmilayProperties.com
Web Reference: http://smilayproperties.com
0 votes Thank Flag Link Fri Oct 28, 2011
If purchasing with a mortgage, start by contacting/visiting any loan officer(s); be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; thereafter choose an agent to work with, he/she will be your best guide.
0 votes Thank Flag Link Fri Oct 28, 2011
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