First Time Buyer

Buying your first home will be easier than you think!

At the beginning the process of buying a home may seem overwhelming. There are so many things to do and consider. I understand what you are going through and committed to helping you through the process by helping you understand each and every step. I am committed to helping people who want to become homeowners find a home!

The Process:

• Get Pre-qualified for a specific loan amount, you will have a face to face meeting with a loan officer. They will review your income and debts, look at your credit report and discuss your financing options. Knowing how much a loan you can afford will be the determining factor in how much you can pay for a home. Sometimes this means helping you prepare your credit report to pass future scrutiny. Together you will plan a strategy for your home purchase either now or later.

• Once you have the “green light” to go forward, you will make the actual loan application and start the process to get approved. Having a Pre-approval shows strength to a seller and will benefit you when it comes to negotiating a sales price with the seller. When your loan is approved, the home you choose will still need to appraise for at least the price you pay. If not the home does not appraise for the sales price, you will not be obligated to purchase the home if that is a condition of the purchase contract.

• Now that we know how much you can afford, we can begin a serious home search in all the neighborhoods that meet your budgetary and lifestyle requirements. This is when the real fun begins, first online searching learning about properties and neighborhoods. The online search will deliver the newest listings to you as they come on the market. You will be able to save your favorites and track them.

• Go house hunting. Armed with all the details and a pre-approved loan, we will go touring the best selection of homes. Typically we like to look at 5-7 homes at a time. If none of those meet your needs, we will continue to look until we find one that you like.

• Write the offer to purchase your home consisting of the price and terms we define together. Typically we include in the offer:

1. The financing terms you are qualified for
2. Amount of down payment and earnest money deposit
3. Who pays the closing cost
4. Inspection deadlines
5. Personal property that will transfer. (Refrigerator, Washer and Dryer)
6. Closing and possession date

Choosing your Realtor

The importance of choosing the right Realtor to represent your interests in the transaction cannot be stressed enough. So many buyers fail to choose a Realtor on purpose, they start by calling a name on a sign and next thing they know they are working with someone by default.
Contrary to what many people think, there IS A DIFFERENCE in Realtors.

It is important to choose a Realtor who has experience. Relying on someone who hasn’t completed a significant amount of transactions is risky.

Your best choice is going to be a Realtor who will work diligently to represent your interests and will listen to your needs. Your Realtor should be prepared to answer your questions and assist you in all phases of the process from financing your loan to the Final Walk Through.