TIPS FOR FIRST TIME BUYERS BUYING CONDOS IN DTLA
The first thing you want to do is to meet with a mortgage broker to find out how much you can afford to pay for a home. This will make you pre-qualified.
The second thing you want to do is to get pre-approved. Sellers will be more likely to be receptive to your offer if you have been pre-approved. You will also not be spending time going after homes are out of your price range. The seller will know that you are a serious buyer for that property.
3. FIND OUT WHAT YOUR NEEDS AND WANTS ARE:
The third thing you want to know is to find out what your needs and wants are. Find out what are the items that you must have. How many bedrooms you want? Do you need a one-story house only? Then figure out what your wishes are. Would you like to have a pool, a den, office? These would be your wishes but they are not necessary. For first time buyers, you will probably not get everything on your wish list but it will keep you on track.
4. REPRESENTATION BY A PROFESSIONAL:
Hiring your own real estate agent is a great way to find your home or condo. This person is working for you, the buyer and not the seller.
Here are some more tips that can help you with the process.
1. Have a map of the areas that you are interested in.
2. Keep a file of all the listings that your agent has emailed you.
3. Take notes and take pictures of the listings that your agent shows you so that you can remember the condos and you won’t be confused about what you saw.
4. Location: Look at a potential property as if you are the seller. Would a prospective buyer find it attractive based on school district, crime rate, proximity to positive (shopping, parks, freeway access) and negative (abandoned properties, garbage dump, source of noise) features of the area?
5. You should also imagine the home or condo empty and with your own interior design. Does the layout work for you? Is there enough light inside the house for your needs?
6. Try to make objective decisions. Does this home really meet your needs? Don’t make a hurried decision.
7. You should also include inspection and mortgage contingencies in your written offer.
8. Have the property inspected by a professional inspector.
9. Request a second walk through to take place within 24 hours of closing.
10. You want to see that no changes have been made that were not agreed on. (i.e. a nice chandelier that you assumed came with the sale being replaced by a cheap light).
Having a professional, such as myself, a Realtor® in Downtown LA can help guide you in making the right decisions in your home buying process.
We would love to have a consultation with you! Give me a call at (310) 430-1949 to set up an initial consultation on the home buying process or you can email Realtor® Maple Navarro at email@example.com. We look forward to helping you buy your first condo!
Realtor® Maple Navarro, Calbre#01924421 Greenstone Properties, LACondoSearch.com