"Luxury Living, we have The Answers"
Frequently Asked Questions
How long will it take to buy a home? . . .
Finding your home will normally take a week to two months. After finding the right property, submitting an offer, and having it accepted, you will normally have the keys to your new home within 30 to 45 days.
Why do I need to be pre-approved? . . .
Getting pre-approved with a lender streamlines the entire homebuying process. It will help determine your price range, and can save you time from looking at homes that might be out of budget. Seller's are not likely to consider an offer from a buyer who is not pre approved, and in this fast-paced southern California market, having your pre approval in hand prior to finding your dream home is extremely beneficial.
Should I work with a buyer's agent? . . .
Yes. If you were going on trial in a court of law, would you ask the opposing side's lawyer to represent you as well? Working directly with the listing agent is similar to the aforementioned scenario. A great buyer's agent is able to offer the guidance you need during one of the biggest financial decisions of your life.
What is escrow? . . .
The Escrow holder is a neutral third party that holds the documents and monies involved in a real estate transaction, and ensures all conditions are met. Whether you are the buyer, seller, lender or borrower, you want the assurance that no funds or property will change hands until ALL of the instructions in the transaction have been followed.
What is an earnest money deposit? . . .
The earnest money deposit, often referred to as an EMD, is a good faith deposit to secure the contract. In other words, it shows the seller that you as a buyer have some skin in the game. The EMD is commonly 3% of the purchase price, and will be deposited with the escrow holder within three days of an accepted offer. The EMD will count towards your down payment and closing costs at close of escrow.