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A Step-by-Step Guide to Buying a Home

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.

WHAT MY CLIENTS SAY

Rick is outstanding at what he does. My wife and I have worked with Rick for several years, and can attest to how professional and easy to work with he is. Every step of the way, he has guided us through the challenging process of buying a home in LA. He has helped us understand what is important to us and all the steps necessary. He's been beyond patient with us as we never wanted to buy until we felt like we had the right place, and he has never pressured us to enter a deal that wasn't right for us. That being said, when we did put in a bid or finally enter escrow, he worked diligently and expediently to close the deal. Anything needed on his end was completed almost immediately, and he constantly was in communication with us, the seller's agent, our mortgage lender, and all the other involved parties. His communication skills in this high pressure environment are collected, calming, and transparent. And at the end of the day, it's clear he has your best interests in mind. He's genuinely a kind human and has regularly checked in on our family. He is trustworthy, dependable, available, and highly experienced. I'd like to recommend him without reservations- this is the person you want on your side.

— Justin P.

WHAT MY CLIENTS SAY

Rick Ojeda helped me buy my first home in 2024, and I truly couldn’t have asked for a better experience. From start to finish, Rick was professional, knowledgeable, patient, and always available to answer my questions — and as a first-time buyer, I had a lot of them. He took the time to understand exactly what I was looking for and guided me through every step of the process in a way that made everything feel manageable and stress-free. Thanks to his expertise and negotiation skills, I ended up with an amazing house and an incredible deal that I still can’t believe worked out as well as it did. What really sets Rick apart is how much you can trust him. He is honest, transparent, and genuinely cares about his clients. At no point did I ever feel pressured or uncertain — I always knew he had my best interests in mind. Buying a home is one of the biggest decisions you’ll ever make, and having someone like Rick in your corner makes all the difference. If you’re looking for a realtor who is hardworking, trustworthy, and truly exceptional at what he does, I can’t recommend Rick Ojeda highly enough.

— Zack T.

WHAT MY CLIENTS SAY

Rick answered our questions in a way that was easy to understand and took the time to explain every step during the process of selling our house. He is supportive, honest and wise, always offering positive solutions. He created a safe space to share concerns and helped us work through them constructively. I highly recommend him!

— Lisa S.

WHAT MY CLIENTS SAY

Rick is great to work with full of energy and always available when you need him. He really listens and makes sure you get exactly what you want. He’s helpful at every step of the process, which makes everything so much easier. I’d definitely recommend Rick and his team.

— Jeannette T.

WHAT MY CLIENTS SAY

I found Rick Ojeda to be an exceptionally skilled and dedicated real estate professional. He showed strong expertise in sales strategy, marketing presentation, attention to detail, and closing. He successfully sold my townhouse at an excellent price and worked diligently to ensure the deal was completed smoothly. His support team at The Partners Trust was also professional and a pleasure to work with. I confidently recommend Rick Ojeda as a real estate broker.

— Stephen M.

WHAT MY CLIENTS SAY

As the buyer’s agent representing a client on an Encino property, it was a pleasure working with Rick Ojeda, who represented the seller. Rick was professional, patient, and highly responsive throughout the entire process. His communication was timely and transparent, which helped keep the transaction moving smoothly from start to finish. Rick represented his clients well while also maintaining a collaborative and respectful approach that made working together seamless. He was proactive, organized, and handled every detail with professionalism and integrity. I would gladly work with Rick again and highly recommend him to anyone looking for an experienced and dependable listing agent. A true 5-star professional.

— Michael R.

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Whether you're buying, selling, investing, or simply exploring what's possible, I'd be glad to learn what you're looking to accomplish and help you determine the right next step.

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Contact Details

Rick Ojeda | CA DRE#00987794 |
Carolwood Partners Inc.

(310) 902-7676
[email protected]

9440 SANTA MONICA BLVD, PENTHOUSE
BEVERLY HILLS, CA 90210