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Buyer's Guide

A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by your agent will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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Step 1:

Research

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

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Step 2: 

Decide on Your Budget

Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

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Step 3:

Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

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Step 4: 

Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders? Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but I also have a knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.

My goal is to provide you with the most personalized service that is designed to help you buy your dream home

Schedule A Consultation
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Step 5: 

Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). I will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

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Step 6: 

Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. I will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

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Step 7: 

Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

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Step 8: 

Select Your Loan

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.

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Step 9: 

Get a Home Appraisal

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.

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Step 10: 

Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Congratulations!

After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams. 

My Testimonials

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Seller

John Iglar and his real estate associates were experienced, knowledgeable, and always had our best interests in mind. We sold our property many miles away and were always kept updated promptly on any activity. We recommend John...
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Kate H.

John's incredible knowledge of the LA market, connections, and advice helped us find a home beyond our expectations. He was a supportive and reassuring guide in what can be a stressful endeavor. John is the real estate agent of...
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Buyer

John was incredible on the both sale of our house and the purchase of our new home! He knew how to price our house and was extremely knowledgeable on both ends of our deals. He was so easy to work with - we had a great experien...
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Seller

John helped me with the sale of my apartment and was terrific. We had multiple offers, over asking and I closed in 21 days. I was so happy with him that I used his services and strong knowledge of the Los Angeles real estate ma...
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Seller

John is definitely a 5-star agent. He’s intelligent and has terrific follow-through. Plus deep integrity to satisfy the client. He can explain the process clearly so you will understand what is about to happen either buying or ...
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Allison

We felt confident having John Iglar as our real estate agent to purchase our home. He is friendly and professional and made the process as pleasurable as we could imagine. There were many times that he demonstrated his business...
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Rehi A.

John was an absolute delight to work with. His knowledge of the purchase process, neighborhoods, and LA history made the whole experience fun and less scary for a first-time home buyer. He has a great feel for the market values...
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Seller

Excellent experience. John's sales plan was excellent. The house was on the market for a very short time, and the escrow was even shorter. John was great about keeping us informed--especially important to me because we were 3,0...
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B

Buyer

John is knowledgeable, meticulous, and super friendly. He helped me buy my first home, with minimal hassle. He was totally available to me and very patient. I highly recommend John if you want your experience to be with someone...
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Seller

John provides vast market knowledge, spot-on strategies, and a personality that is just pleasant to work with (especially during what could be a very stressful process). He helped to sell my Santa Monica condo quickly and for w...
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Buyer

John Iglar is a dream come true. He has the perfect composition of professionalism, sharp wit, great taste, and efficiency. We feel truly lucky to have been represented by John. Should we be on the market again we would only us...
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Seller

John was a perfect agent. The house was on the market for a very short time before it sold, and the escrow was even shorter. He kept us informed at all times--important to us because we were already 3000 miles away. He promptly...
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B

Buyer

John helped me buy my first home with minimal hassle, and it was a great experience. He is meticulous, accessible, and knowledgeable. I felt that I was in great hands at our first meeting, and I was right. My closing went super...
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B

Buyer

John Iglar is amazing! We looked for about 6 months and just couldn't find a home in our price range that checked all our boxes. So we decided to wait. But then John called us a few weeks later and said he found a property that...
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Buyer

John has a real passion for what he does. He is thorough, detail-oriented, and goes the extra mile for his clients. As first-time home-buyers, my husband and I felt taken care of. He knew how to put us at ease as we moved throu...
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B

Buyer

John Iglar found me my ideal home about seven years ago. It was my first experience buying real estate and I think I got extraordinarily lucky to have him guiding me. Not only did I end up with a place that exceeded my wishes a...
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Buyer

John went out of his way to help us buy our first home, even though with our modest budget, he would not be reeling in a big commission. We were small fish in a big pond with only 10% down, but John was able to negotiate an ama...
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Buyer

John did an extraordinary job helping me find a condo to purchase in West Hollywood last year. The challenge for both of us was that I am living in London. Throughout a couple of trips to LA and lots of correspondence, I got to...
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Dan F.

I had such a great experience working with John. I was conducting a long-distance search from London for a condo in West Hollywood and getting nowhere until I was introduced to John. He understood what I was trying to accomplis...
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Aaron

John Iglar is a personable and professional agent, who possesses an exhaustive knowledge of the Los Angeles real estate market and an amazing taste level. But most importantly, he helped me and my spouse buy our dream home. Our...
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Contact Details

JOHN IGLAR | CA DRE# 01803457

Phone

(310) 740-5090

Email

[email protected]

Address

150 El Camino Dr Ste 300 Beverly Hills CA 90212

 

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