We like this home! Great let’s write an Offer!
We like this home! Great let’s write an Offer!
We like this home! Great, let’s write an Offer! I love this part of the conversation with a buyer. Now comes the more interesting part, when I have to explain what it will take to accomplish this. This does not matter if you are buying a Luxury home in Beverly Hills or a Waterfront Ocean View Home in Marina Del Rey or Malibu.
In California there is more paperwork to be completed than many other states. Why is that? Part of the reason is, because we live in a very litigious state as well as, since we have Escrow Companies involved in the transaction, rather than attorneys.
I represent many out of country home buyers (foreign nationals) as well as out of state home buyers; hence I have to explain this phenomenon many times over.
The First step is easy; we determine what the Value of the home is. Then we strategize where we should start the negotiation and where we want to end up at.
Then the paperwork begins.
There are approximately 32 pages that have to be filled out. Of which 12 pages are Contractual Forms and 20 pages of Disclosures. Then Proof of Funds, pre-approval letter and of course an earnest money check for 3 per cent of the purchase offer.
Keep in mind these pages have to be explained and the time depends on the level of understanding as well as the experience of the home buyers. First time home buyers are very similar in this respect to out of state home buyers and out of country home buyers. They are just as unaware of the vast amount of paperwork that it takes to buy a home.
So I find that patience, understanding and time are all integral part of submitting an Offer in California. The more knowledgeable and patient your Realtor is the easier this process will be.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of My commission to Local Animal Rescue Organizations.
