1st Time Buyers
Listed below you will find a general guide line
to follow when buying your first home
Step 1: Contact Jim Weber Realty,
Inc. and ask for one of its associates. This is the time to set
up a free tour of the areas we specialize in. Also inquire about
a personal website we can set up which will keep you up to date
with whats available in the market.
Step 2: Get preapproved by a
lender who specializes in our area. Below are a few choices of
lenders available to you:
- Jeff Acres: (310) 791-7114
- Alan Mclain: (310) 880-7636 or Amclain@firstcapitalmtg.com
- USC Credit Union: (213) 821-7100
- Pacific Resources Credit Union (Jeannette Alberty): (213)
830-7800 x7878 or Jalberty@prcu.org
Step 3: Start using the personal
website set up for you and look for houses on the current market
to determine "value". Remember "value" is
not always the asking price...it may be higher or it may be lower.
Step 4: Make an appointment with
an assosiate of Jim Weber Realty, Inc. to check out a house you
like.
Step 5: Make the offer base on
what you believe the value of the property is.
Step 6: If the offer is accepted
this is the beginning of the next phase known as Escrow
The escrow phase can be
described as a neutral third party which handles the paperwork
and which enforces the agreed upon contract for a successful close.
Step 1: The lender you have chosen
will send out the appraiser to ensure that the loan amount is
substantiated by the property being purchased. They will also
collect any additional paperwork which needs to be processed.
Step 2: The title company will
provide proof that the seller actually owns the property and will
also indicate any "red flags".
Step 3: When the loan is ready
to fund the title company will provide the funding figures to
escrow. Escrow will then contact the parties and collect the difference
between the loan funds and the total funds needed to close the
deal.
Step 4: When all fund needs are
satisfied the title company, the title company will record the
deed the following morning.
Step 5: Congratulations!!! You
are now a first time owner of your own property.
