South Bay Residential real estate services for the beach cities,  Redondo Beach, Torrance North, South, West, and East, Torrance PO, Gardena, Hawthorne, Harbor City, Lomita, Carson, San Pedro, Rancho Palos Verdes, and Surrounding Communities.

Buying a home soon, Learn about making offers and the escrow process:

 The first step when buying a home is always to get pre approved for a loan. after you are pre approved you will view properties and when you find the prefect home then the next step when making an offer will be to determine the purchase price to offer. We will do that by reviewing comparable sales of the same sq footage homes within 1 mile range of the subject property. We will add and subtract for upgrades and/or work that needs to be done on the property taking in to account any competition (other offers on the property) and also how bad you want the property...Using that information I will structure an offer that is to your best interest. I will then submit the offer and we will wait for an answer from the seller. It necessary we will counter back and forth until we reach a meeting of the minds or agreement of price and terms. After we have an accepted offer we will open escrow and start the escrow process.

The first thing we will do after opening escrow is schedule a home inspection.. The cost is  $250-300  Second thing I will send a copy of the contract to your lender to start on your loan. The lender will order the appraisal. You may have to pay $450-475 for the appraisal... These are your only expenses at this time...Toward the close of escrow you will pay the balance of your down payment and closing costs after you sign your loan documents just before the close of escrow...

All purchase contracts include an inspection contingency. The standard contingency period is 17 days and it can be changed or negotiated when making the offer. The contract allows 17 days to approve of all matters effecting the property including the  inspection, the appraisal, reviewing the disclosures, title report, natural hazard report and to approve of all matters effecting the property. If we are going to make a request for repair or request for a credit for repairs, we do it during the 17 day contingency period.

Review the contract and make a list of important dates. These will include such things as the contract contingency deadlines and the actual closing date. I will keep you posted on these timelines..

Make sure to provide your lender with all the information needed to get your loan approved and to satisfy your lenders conditions when asked so you get your loan documents on time. Most of the time there will be pre document conditions and pre funding conditions, these conditions need to be met before your loan can be funded.
When a closing is delayed, it usually has something to do with the buyer's mortgage. In order to ensure that this doesn't happen to you be diligent about providing the lender with all the documentation needed to give you final loan approval. Also keep in mind the lender won't prepare the loan documents for you to sign until all the lender's conditions for approval have been satisfied.

Review the Escrow Instructions to make sure they are correct before signing them. Make any changes by requesting escrow to make an amendment if needed. Review the Disclosures thoroughly, review the NHD Report and the Title Report thoroughly before signing them off and approving them.

s the closing date approaches, you'll go to escrow to sign your loan documents or escrow will send a mobil notary to your home and you can sign your loan documents at home.  After you sign your loan documents you will arrange to  transfer your funds for your down payment and closing costs to escrow that are necessary to close the sale. At this point escrow will fund your new loan close escrow within a few days.  We will schedule a final walk-through of the property to make sure that it is in substantially the same condition as it was when the seller accepted your offer  near or at the close of escrow.

Finding the right home can be a difficult process but no matter what you are looking for as an experienced knowledgeable south bay area real estate agent I can provide you with the resources you need to make the home buying process simpler and easier.  Enjoy the specific neighborhood information  tools to estimate your mortgage payments and buyer resources and articles that will help you through the home buying process. Click Here for Detailed Demographic Neighborhood Reports Just type in any address to get Demographic Information.

No matter what the  market you're in, you can use the experience of a qualified south bay area real estate agent like me to help
sell your home quickly and at the right price. Learn more about my service, get information about recent home sales in your area or contact me to get started today!  Some of the cities I cover are Redondo Beach, Torrance, Lomita, Harbor City, Gardena, lawndale, Hawthorne, San Pedro, Rancho Palos Verdes, and others.

Learn how to evaluate a rental income property in 60 seconds

When you start looking for positive cash flow income properties, or a Income property to buy you might find yourself overwhelmed by all of the Apt Buildings on the market. Your realtor may be sending you a bunch of listings for sale or you may have a list of properties you've found on websites like How do you know which ones are worth looking at further?

I use a simple calculation to make a quick decision, and it saves me a huge amount of time. When you look at a spreadsheet of potential properties with income to buy (this is how to compare opportunities), take three or four to look at closely in less than five minutes. You can spend hours going over the details and analyzing the numbers only to come to the same conclusion.

So, what's my trick?

Before making your decision to buy a rental income property for sale, all you need are two numbers: the price of the property and the rental income you will get from it each month. If the monthly income is at least 1 percent of the purchase price, it's worth investigating further. If, for example, you have a property that costs $300,000 and it gets $3,000 per month in rent, it's highly likely you will get positive cash flow from it. Here is another Idea: get pre qualified for a loan. make sure to ask your lender how much the mortgage payment is going to be along with your price range you are approved for and compare your monthly mortgage payment to the monthly rents of the  property with income you choose.  If you have positive cash flow then you have a good property.

Also keep in mind some properties rents are under market.  You can update the property and raise the rents to the current market rents in that area. 

And that is a key ingredient to successful real estate investing.

You can even drop the 1 percent to 0.8 percent, and you may still have a positive cash flow property. One percent is just a rule of thumb. You can decide on the exact number you're looking for based on your objectives, the strength of the area where you're buying, the size of the down payment, and the cost of financing.

Once you've found a rental income property with cash flow potential, you still have a lot of work to do to make sure it is a good one to buy. But by using this trick, you won't waste time running the numbers on properties that don't have much potential to be a good deal.

 Note: This is the PERFECT time to scoop up real estate at bargain prices and set yourself up for massive wealth creation when the market recovers.

Call me with your questions I will help you to locate a property after you are pre approved for a loan. I will help you  find the perfect property and negotiate the best price and terms so your numbers work hard for you.            


David S LE Montree, GRI Ph (310) 920-3182



mortgage calculator with taxes and pmi

Try the Mortgage Pay Off Calculator below. Make sure to add in a extra payment monthly to see how much you can save $  in Loan Interest and also see your loan paid of much much earlier….


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Mortgage calculators

Use Bankrate’s mortgage calculators to compare mortgage payments, home equity loans and ARM loans. The mortgage calculator offers an amortization schedule.