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.
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.
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.
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.
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 our 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
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.
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.
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. We 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.
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.
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.
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.
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.
Barbara was outstanding each step of the way and helped out more than she had to. I would recommend her.
Barb, Thank you for all of your help throughout the process of purchasing our house! We are endlessly thankful for our new home and could not have done it without you!
Barbara facilitated the selling of our house with great professionalism. She was available at all times to answer our questions and to help us with all the possible issues. We wouldn't hesitate to recommend her to all our friends.
Barb was excellent. I was overwhelmed most of the time by a lot of aggravation selling a house. She helped me through it all. Barb went above and beyond as far as I'm concerned she deserves all the commission. Will recommend her 2 everyone I know who's selling great, classy lady!
Barb made what could have been a disastrous situation, a very enjoyable and profitable ending. Our house had some inspection issues that could’ve detailed the transaction, but Barb was a consummate professional and got us over the goal line. I have referred her regularly and am very confident in doing so.
As first-time home buyers, we were so thankful to have Barb's expertise in guiding us through the process. Not only did she help us secure an excellent deal on the perfect house, she also helped us navigate inspections and secure mortgages, and was with us the entire process. Barb was always responsive, knowledgeable, and a pleasure to work with. Will absolutely recommend it to all of my friends and family.
Barb did a fantastic job selling our home. From day one she helped us prepare our home for sale by making several key suggestions to appeal to home buyers. She knew the market in the Saratoga area and was able to help us land a selling price that would move our home in 30 days or so, which we did! I would highly recommend Barb if you are thinking of selling your home If you are up in the air about sellin...
Barb has been a savior during this process as a first-time homebuyer. She's so professional, and knowledgeable, as well as just enjoyable to be around as we were viewing houses together. She was extremely flexible in working with our schedules (given I'm a physician and have not-so-flexible hours). On top of that, she was amazing in negotiating a great deal for our house during one of the most competitiv...
I can't say enough good things about Barb and how she helped me out of a bad situation after I originally decided not to list with a broker. She was extremely supportive and handled my situation professionally, obtaining a second offer only 2 days after an original offer fell through. She managed the final closing process from start to finish and made sure I didn't over-commit to any unnecessary demands ...
Barb was an outstanding, detail-oriented real estate agent. She found the right buyers for me quickly and diligently. She has very strong business acumen and knows how to price both to sell and maximize profits. Barb was extremely helpful in staging my house also. I felt like a partner the whole time. She was always available. Barb made selling my house a priority. She is an experienced negotiator and ca...
Searching for a home or investment? The buying process can be overwhelming, I assist you through its entirety...the search, your financing, finding legal representation, inspections, right up until closing and beyond!
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