Congratulations!  Since you have decided to purchase a home, or are thinking about buying one, you'll be joining the ranks of people who realize that home ownership offers a number of benefits including building equity, saving for the future, creating an environment for family and investing in a positively performing asset.  When you own your own home, your hard-earned dollars pay your mortgage, but the equity you earn is yours.  Over time, your home will increase in value.

Let's start with the Basic Information: Buyers and Sellers in California are represented from first contact to closing and settlement by a person licensed by the California Department of Real Estate (DRE). The majority of real estate licensees work on a commission-only basis, i.e., no pay until the transaction closes and title has been exchanged for money. However, there are some licensees who will work on a pay as you go hourly or flat rate fee basis. There is no minimum or maximum model or service, so each buyer and seller needs to decide who will be their real estate adviser and agent and what level of service is desired. It is possible to hire your buyer's agent under a Buyer Broker Agreement which details the duties and responsibilities of the buyer agent, the responsibilities of the buyer, and what - if any - compensation will be paid directly by the buyer to the buyer agent.

Buyer's agents usually find and show properties to the buyer, refer a buyer to a reputable and highly responsive lender, advise and negotiate the offer to purchase the chosen property, and work throughout the transaction process -called escrow - to keep their buyer-client educated, informed, up to date and on top of everything the buyer needs to do to complete the purchase. There are many jobs a buyer's agent completes to protect and assist their client.

The close of escrow is the date agreed to by the buyer and seller when everything necessary to complete the transaction must be done: all buyer monies in escrow or provided by the lender; all seller disclosures, permits, signed deeds provided to the escrow office and any repairs completed. Only the buyer needs to appear at the escrow office to sign loan documents 1 week prior to closing. The deed transferring title to the property is recorded the day of the close of escrow.

Would you like to know more details? As your full service real estate professional and REALTOR, I will personally take you through the planning process step-by-step and help you determine which property in the South Bay community is the right home or investment vehicle for you at this time.  I can provide you with a host of informative articles on mortgages, viewing homes, the offer, escrow in California, closing details and moving.

Please contact me directly at Mail To:Beach Home@SandiPfister.com if you have any additional questions about buying a home or beach house in any or all of the cities of Manhattan Beach, Hermosa Beach and Redondo Beach or elsewhere in California.