Whether you are buying or selling a home in Los Angeles you are going to be part of a team, and the process consists of many moving parts. A key factor in keeping everything moving forward smoothly is Communication.
How many times do we assume everyone is on the same page only to find out that they are all going in different directions. Everyone needs to make themselves clear and be sure that they understand what needs to be done and how to accomplish it. Of course the agent is ultimately responsible for educating their clients, but sometimes things can clip through the cracks.
- If there is anything at all in your situation that might prevent you from acquiring a loan,communicate that up front, however minor you may think it may be. Your loan officer may be able to work around it, but if they don’t know and it shows up later in the process, at the least you will have wasted a lot of time, and at the most your loan will be denied.
- Even if you are approved up front for a certain amount, be firm on what you are actually willing to pay. You may be approved for a $700,000 home but only want to make payments equivalent to the purchase of a $625,000 home. Communicate that so you are not running around looking at homes you hope will come down to your price. In this sellers’ market that is not going to happen, and you will face unneeded disappointment.
- When touring homes communicate to your agent what you like and what you don’t like; what you will accept or not accept. That goes for the neighborhoods you are visiting or types of homes. That will help your agent narrow down the search and save time.
- Once you have found your home and are in escrow be in communication with both your lender and your agent. Everything is time sensitive during the escrow process and there is nothing worse than a buyer not being available and no one knowing why.
- Everything you know or think you know about your home should be communicated to your agent. You cannot hide anything and, believe it or not, the more you disclose up front the less problems you will face later. You may be disputing work a bill sent by a contractor on your home. Your agent needs to know. The last thing you need is a mechanics lien showing up on title at the last minute.
- You might be planning a trip in the near future. Communicate that to your agent so they can plan accordingly.
- Communicate the absolute minimum you will accept for your home. You may say you are somewhat flexible on price and when negotiations start you will not budge.
- Communicate your motivation to sell. Will you accept the first good offer? Do you want to wait a little to see what comes in? This will help your agent manage the process effectively.
The above are just examples of they ways you can make buying or selling a home in Los Angeles much easier. If there is something you don’t understand, ask. If you feel you would like to be completely clear about what is needed to make the process as smooth as possible ask your agent to explain. There can never be too much communication.
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