VACATION HOME GUIDE

A Step-by-Step First Time Purchase/Lease Guide

Purchasing/Leasing 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 guide created by your agent will help reduce the stress of buying/leasing 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 find your place? 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 the move and find your place. LA Luxuries prides itself on having its own search engine for vacation homes in Los Angeles.

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Step 2: Decide on Your Budget

Notice I said to decide on your budget Range—not determine which properties out of your budget will entertain your budget. In many cases, homes will not take much discount on vacation homes which is why you need to determine the monthly payment or purchase price you feel comfortable with before talking to us. 

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Step 3: Be aware of demand

Just because you think you can afford a certain payment every month doesn’t mean the Landlord/Seller will agree. Insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to find your place. Before you get your heart set on a home, talk to us to find out where you stand. This will also be an advantage when you try to lease a home, as some Landlords won’t entertain Leasing/Selling to those who aren’t already vetted to find their place.

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Step 4: Choose a Real Estate Brokerage

Can you shop for, look at, and ultimately lease a home without a real estate broker? Technically yes, but why would you when we help identify properties you might be interested in, arrange showings, and ultimately handle the leasing/Purchase process, but I also have a knowledge of the market that you don’t possess. I may be able to steer you away from certain homes, neighborhoods, suggest hidden gems, or give you pointers that will help you find your place for the right price.

My goal is to provide you with the most personalized service that is designed to help you find your place.

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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 grocery stores, hospital, or restaurants.

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Step 6: Make an Offer

Once you have selected the perfect home, work with us to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is asking and the current environments supply and demand, 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, or you'll move forward with your lease.

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Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected or for them to accept certain terms 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. It is very common for offers to be made in cash (without the need for a loan). 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 or Leasing a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender, title company and your agent When you’re finished, you’ll know you are the legal owner or Tenant of your new home.

Congratulations!

After signing the final paperwork to complete the purchase/lease, you are now responsible for a new LA Luxuries Vacation home. 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 in. After all is said and done the next question might be what is your Managers Guide?

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My Testimonials

See why my clients love working with me.

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Steven Schwartzman

We have partnered with LA Luxuries to rent our home for special circumstances, and their extraordinary customer service to clients. Significantly positioned to manage residential property rental needs. Concierge services truly ...
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Charles Cohen

The only service for rentals in LA. Very hands on, and deals transparently.
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Alice Koch

Transaction and contract was easy and smooth. The stay was amazing. Had an amazing view out the window. Staff was really helpful and friendly. We had housekeeping daily. The estate was clean and spacious. Will definitely be bac...
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Jeff Ellison

We rented a property for a commercial shoot in the Hollywood Hills, and from start to finish the process was seamless. We work with this company now because of the value they bring.
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Shiv Kapoor

I stayed in a great home with views of the pacific ocean which made our stay incredible. Would highly recommend, we felt very accommodated.
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Susanne Kroll

We leased a luxury vacation home through LA Luxuries instead of Zillow or Airbnb. This was a straight-forward process that also had some personal attention to detail. They helped me book an event and space.Rare.
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Arnold Newman

A good and useful service. Personal touch that big chain firms lack. Luxuries stay by your side all along the process and beyond, you really feel like you have a solid professional back up that cares and you can count on.
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