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Old 01-11-2013, 09:52 AM
18 posts, read 23,876 times
Reputation: 14


Im thinking of purchasing my first home..er condo. Iv been looking to stay in the southbay since thats where my job , gym ect is located. Ill even considered san pedro. Im looking at 250k. I have been pre approved already.

Any tips for a first buyer? It is a scary process.
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Old 01-11-2013, 11:37 AM
Location: Los Angeles (Native)
24,401 posts, read 13,918,128 times
Reputation: 11549
It seems like it would be a good time to buy, it seems prices are already edging up a bit and demand is high. Don't be scared of the process...do you already have an agent you are working with?

I would recommend really checking out the area making sure you want to live there for a long time. I'd recommend living as close to work as possible. Congrats on getting preapproved.

I would look on redfin if you haven't you can see practically everything on the market. Don't just take your agents advice ..verify everything. Don't be pressured to buy something if you have a bad gut feeling.

You mentioned buying a condo make sure you look at the HOA dues and what that includes. Also find out about the rules , if you need to rent out your unit for some reason..will the HOA allow that? Some don't.

Also I'm not sure if you have conventional or FHA financing, but FHA financing is not available for every condo building..the condo has to be FHA approved..

Make sure the condo neighbors are decent , swing by on a weekend night ..is the area loud/quiet/safe or dangerous?

Are there parking spots available if you have visitors over?

Any sketchy activity going on?
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