The majority of homes listed have multiple offers make sure you work with an agent that knows how to compete in a competitive market.  They can guide you through the process step by step.  

If you are doing financing it starts with your loan.  

There are 3 types of Lenders,

  1. Traditional/Conventional loans are with banks, US Bank, Wells Fargo, etc. 
  2. Brokers/Non-traditional loans are with brokers. This is a micro market and the brokers are different for each marketplace.
  3.  Hard Money Loans/Aggressive are ideal for investors, loan funded in a little as 7 days but have high fees associated with them. 

Ask your real estate agent for 2 lender referrals. Most agents know who can perform well for a home purchase money loan and who has good rates.  

A common question we get is why is our real estate market so competitive?  It's a great question the larger contributing factors are low housing inventory & low interest rates for home loan, a growing tech community (Silicon Beach), gorgeous sunny weather & the tranquil ocean. 

When you have selected your agent and lender.  It's important to know when it's the best time to see homes.  If you prefer a private appointment it's best 11am-2pm during the week, it's sunny so you can see where the light falls, and less traffic getting to the home.

For weekends aim for Sunday from noon-5pm. You  can stop by  open houses at your leisure. Just keep your max home viewing for a total of 6 homes. Otherwise you lose the visceral sense memory.

When you find the home you want to make an offer on.  You agent will be writing a clean, and straightforward offer.  This means a 10 day home inspection time period to do your inspections and a  30 day closing to do your loan.  Discussion points with you agent could be that you may need to consider waiving the appraisal and loan contingency, which provides for Seller confidence and is more competitive against all cash offers. 

Along with the offer your agent will provide your proof of funds for your downpayment.  If you have more funds than your downpayment consider showing a little bit more.  You look solid financially to the owners. This is mainly for buyers getting a loan.  If it’s all cash it would be based on the home, competition and area. 

Write a short and sweet heartfelt letter to the owners. Touch on what you liked about the home and your future plans. Adding a photo is a good idea. We have seen all kinds of photo’s, weddings, camping, running, pets, babies, anything that you like and that highlights you. 

We also add in our experience and highlights of you and your offer.  Main goal is to make you look really good so your offer stand out among the rest! Call/Text: 310-737-8173 Kristine Halverson, Berkshire Hathaway HomeServices California Properties, Santa Monica