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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 our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

Investing in a home is one of the most important decisions you’ll make. So much more than a roof over your head, your home is where life unfolds and memories are made, while building a financial foundation for your future. Your needs drive how and when we find your next home. From this day forward, everything we do will be motivated by your goals and how you imagine your life in a new environment. Once we get a thorough understanding of where you see yourself, finding your dream home will move faster and with minimal interruption to your daily life. And, it all starts here on our website.
 

How do I start my search?

With layers of options our website allows you to search by neighborhood and school district, revealing the details that matter most to you. Your neighborhood is an extension of your home. Neighbors, surroundings, and access to everyday things can and should factor into your home-buying decision. Our website provides background on neighborhoods you won’t find anywhere else – including lifestyle trends, walkability ratings, local restaurants, and more.
 
Once you have identified the neighborhoods that you are most interested in, favorite the homes in those neighborhoods that best meet your needs. When you tap the ‘save to favorites’ for a home that catches your eye, it’ll be saved to your collection. From there, we’ll see the homes you like and help you coordinate the best time for you to see them.
 
Another helpful tool you may want to consider is to create a saved search. This is a preset filtered search that updates automatically with any new homes for sale. Simply fill out your desired search criteria (zip code/city, number of bedrooms, bathrooms, etc.) and tap the ‘save’ icon. You can then choose to be alerted by email whenever a new home meets your criteria.
 

Touring Homes

When we’re ready to start looking at homes in person, it’s best to start with a consultation with a lender. We are happy to recommend a trusted professional who can talk to you about your financing options.
 

How can I make the most of my time when touring homes?

We’ll work together to get an accurate idea of your price range, an estimate of your monthly payments, and a pre-approval letter, so we can move quickly if need be. Refining your “wants” and “needs” list will help us identify what’s most important to you, including both the location and the house itself. Preview and save your favorites through our website. Once we narrow your list, we’ll plan an itinerary together.
 

What should I expect when touring homes?

We will typically tour homes together alongside any co-buyers, friends, or family you’d like to join. Homeowners usually aren’t home, so you’re free to spend as little or as much time as you want. You may have a gut reaction when visiting a home. First impressions count, but we’ll advise you on home values and help evaluate priorities in the context of what’s available in your price range.
 

How many homes should I visit?

Sometimes buyers find their future home the first time out, and others look at several before they see one that checks all their boxes. It’s a good idea to see at least a few alternatives so you have some points of comparison, but sometimes you just know a place is where you want to live.
 

What should I look for when visiting homes?

Look beyond the staging and decorative items to see the features and fixtures that convey with the house.
 
  • Check the condition of the home
  • Keep track with photos and notes
  • Consider possible home improvements you might want to make so you can research costs later
  • Don’t forget to check out the outside of the property and the neighborhood
  • We have access to relevant neighborhood insights and data to help inform your decision
  • Locate your commuter route, schools, shops, restaurants, parks, and other amenities
  • If the property is a condo or located in a homeowners association, we’ll assess the fees and rules to see if you can live with them
As your trusted partner for your home search, feel free to reach out at any time should you have any questions about any of the homes we tour.
Once you’ve narrowed down your list and have a clear favorite, we’re ready to make an offer on a home. From here, we’ll evaluate the market and draft a well-thought-out offer that also protects your interests.
 
What should I include with my offer?
Your offer will be written using the most recent standard-purchase offer forms that comply with all state and local laws.
 
Your offer will include:
 
  • The price Terms – such as a request for closing cost help or that the offer is subject to your obtaining financing and a home inspection
  • Target date for closing Earnest money deposit – we can advise you about how big your deposit should be based on local customs and current conditions
  • Request for final walk-through
  • Time limit for the offer

What are the most common contingencies?

Financing. Unless you’re paying cash, it’s typical to write your offer with a contingency clause that lets you off the hook if you can’t finalize your mortgage within a certain number of days. Even though you have a pre-approval for a loan, it’s smart to protect yourself.
 
Home inspection. Your offer can be made dependent on a satisfactory home inspection report within a certain number of days. This protects you if the inspection uncovers expensive necessary repairs.
 

What happens if I face multiple offers?

In a hot housing market, you may find yourself competing against other buyers. If that’s the case, we will work on your behalf, strategizing for your offer to be accepted. With access to real-time market data, we’ll know how to best position your offer.
If there’s more than one on the table, the seller can:
 
  • Accept the best offer
  • Counter all the offers to get a better price and terms
  • Counter one offer that’s close to what they want
Working to find out what’s important to the seller, such as a specific moving date, and to discuss possibly waiving contingencies, adjusting your price, or writing a “love letter” about the house are all options we can consider when facing multiple offers.
 

What is a counteroffer?

The seller can accept your offer as is, or they can make a counteroffer with an adjustment to your terms. You can accept or reject the counteroffer and make your own counteroffer. The contract is final once you and the seller have agreed to all terms.
 
We’ll work on your behalf to negotiate the terms of your purchase.
The crucial period between an offer and a final contract is an important time to stay in close contact with me, so you’re equipped with all the information you need to make smart decisions.
 

What should I expect to see in the contract?

Some of the key points in your multipage contract include:
 
  • Accuracy of information, including the correct spelling of your name and the property address
  • The effective date of the contract – important because your contingencies have time limits
  • A list of contingencies, such as that the sale depends on financing, an appraisal, a satisfactory home inspection, and perhaps the sale of your current home
  • Property disclosure information from the seller, depending on your state laws
  • A complete list of what conveys with the property
  • A list of required inspections, such as a home inspection and a pest inspection
  • Information about when you can move in In some cases, such as if your offer is contingent on the sale of your home, the seller may add a “kick-out” clause, which means that the seller could accept another offer if one is made before your home is sold

 

We’ll review the contract with you to make sure all of your questions are answered.
 

How do I know when to negotiate and when to let go?

We’ll work together to balance how much you want a particular property and what you’re willing to accept to get it.
 
You may want to let go when:
 
  • A bidding war drives the price too high
  • The appraised value of the home is below your offer
  • A home inspection finds defects that would be expensive to repair
  • The seller is unwilling to make reasonable repairs
  • You learn about homeowners association rules that won’t work for you

What are common contract pitfalls I should avoid?

We’ll watch out for:
 
  • Unrealistic deadlines: you’ll need time to arrange a home inspection and receive the report, as well as arrange financing
  • Missing deadlines means you lose your chance to end the contract and keep your deposit
    Items that don’t convey with the property: if you’re not sure, we can discuss it
  • Communications from your lender.
According to the National Association of REALTORS®, the most common reasons for contracts to fail or be delayed are home inspection problems, financing problems, or an appraisal issue.
 
We will be by your side at every step to help you navigate the complexities of a real estate contract.
A professional home inspection, which discloses vital information about a home, is a must before finalizing your purchase. As soon as your offer is accepted, we’ll schedule your home inspection. We have a number of trusted home inspectors we can turn to.
 

What is a home inspection?

Your home inspector will check a massive list (more than 1,000 items) of systems, appliances, and structures in your home to evaluate its condition. You’ll get a written report that identifies potential problems and future maintenance issues. We’ll look at it together to decide whether the report means you want to walk away from a house or ask the sellers to make repairs. You can also have an “information only” inspection, which means you’re buying the house as is, but want to know its condition.
 

What’s included in a home inspection?

The inspector will check:
 
  • Structural conditions such as the foundation, beams, and floors
  • Roof condition
  • Mechanical systems such as heat and air conditioning
  • Appliances – to make sure they’re working
  • Plumbing – for leaks, rust, and water pressure
  • Electrical systems such as grounded outlets and code violations
  • Safety issues such as stairs, handrails, mold, or chimney maintenance

 

What should I watch for during the home inspection?

Together, we’ll attend the home inspection to learn more about home maintenance and so you can see any potential problems yourself. The inspector can answer questions as you go, so if there’s anything you don’t understand or are worried about, just ask.
 

I’ve got the home inspection report, now what?

We can decide whether to negotiate on anything in the inspection report and ask the inspector the following questions:
 
  • Are the items you’ve flagged major or minor issues?
  • What needs to be done to resolve any flagged issues?
  • Can you give me an estimate of the cost of any repairs?
  • Do I need another inspection, such as by an electrician or a structural engineer?
  • Are there things I need to do after I move in?
We’ll be your partners in helping you understand the implications of the home inspection.
You’re one step closer to selling! There’s quite a lot to consider when closing on the sale of your house. Let me walk you through what you can expect.
 

What should I do before the closing?

Before closing day, you’ll need to:
 
  • Take care of repairs required by the contract
  • Keep all receipts and invoices and before-and-after photos of repairs
  • Gather all appliance manuals and warranties for your buyers
  • Hire a mover
  • Cancel all utilities for the day after you move
  • Cancel newspaper subscriptions
  • Change your address
  • Review all settlement documents, especially the settlement statement
  • Check the property survey to be sure it’s correct
  • Clean the house
  • Prepare for the buyers’ final walk-through

What can I expect when closing?

Sellers may or may not attend the closing, so we’ll work alongside the settlement company to decide what’s best. You may be able to sign all documents before the official closing. Seller expenses, which are deducted from the proceeds of the sale, include:
 
  • Final balance on your mortgage
  • Real estate commissions
  • Prorated property taxes, utility bills, homeowners insurance, and homeowners association dues
If you can’t move before the closing, you may need to arrange a rentback from the buyer. A rentback agreement would allow you to remain in your home for a specified amount of time after closing. We can help you complete appropriate paperwork for a rentback should you need it.
 
If you are moving, the buyer will do a walk-through of your home within 24 hours before the closing to check that the property is in good condition. If the buyer finds something that needs to be fixed, we’ll work together to decide how to handle it.
 
Whether or not you attend the closing, you’ll need to provide house keys to your buyer, along with all alarm codes, remote controls for the garage, and mailbox or gate keys.
 

What’s next?

After the closing, you’ll:
 
  • Receive the proceeds from the sale, usually by wire transfer
  • Cancel your homeowners insurance “post-close” – to make sure you’re covered on that day
  • Save your closing documents and home improvement records for taxes
Congratulations! You’ve successfully sold your home. After close, make sure to keep in touch with us for all of your future real estate or home ownership needs. Further down the road, should you ever want to buy or sell, we’ll be here. You’ll always have our number, and we’ll always be ready to spring into action.

Our goal is to provide you with the most personalized service that is designed to help you buy your dream home

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