Steps to Buying a New Home

The first step in buying a new home is financial readiness.

Getting pre-approved with a trusted lender is a formal commitment to lend, making you a more competitive buyer.  Lenders can answer your specific questions like how much you can afford and what downpayment you need?  How much will closing costs be? How does your credit score affect your mortgage rate?

Now that we're thinking about your budget, let's start dreaming about your new home! One of the most helpful exercises for first-time buyers is distinguishing between your "needs" and your "wants.

Needs are the non-negotiable features your home absolutely must have to meet your basic living requirements. Think of these as your deal-breakers.  

Examples: Minimum number of bedrooms/bathrooms, specific school district, acceptable commute, a safe neighborhood.

Wants are the features that would be lovely to have but aren't essential. These are the "nice-to-haves" that enhance your lifestyle.

Examples: A gourmet kitchen, a large backyard, hardwood floors, a finished basement, a specific architectural style.

Creating this list helps us focus our search, manage expectations, and make smart compromises. Remember, the "perfect" home often involves a little flexibility!

What are your top 3 "needs" and "wants" for your new home?

Exciting times ahead – it's time to start looking at homes! As we begin our search and visit properties, here are a few important things to keep in mind to make the most of each showing:

1. Schedule showings: When you find a home you want to see, your agent will schedule a showing online.  Sometimes, these appointments are approved immediately and sometimes, they need to be confirmed by the other agent or the homeowner. Please make sure there is a confirmation the appointment has been approved.

2.Showing Etiquette:

3.  Punctuality: Please be on time for our appointments. If you are going to be more than 5 minutes late, please call or text.  Remember, often people are waiting to come back to their home.

4.  Hands Off Personal Items: Remember, these are people's homes. Please don't open drawers, medicine cabinets, or personal closets.

5.  Quiet Conversations: Keep your comments about the home's pros and cons to a whisper, or save them for when we're outside. Sellers sometimes have recording devices.

No Food/Drinks/Pets: Please refrain from eating, drinking, or bringing pets inside the homes.

6.  Take Notes & Photos (with permission): It's easy to forget details when seeing multiple homes. Take notes and ask me before snapping photos.

7.  Focus on Potential: Try to look past decor or paint colors you don't love. These are cosmetic and can be changed! Focus on the layout, bones, and location.

8.  Home Inspection Contingency:  Finally, depending on how many offers a home is expecting, homebuyers might choose to waive the inspection contingency to make their offer stronger.  While you are viewing a home take a look around and think about if waiving the inspection might be a possibility.

I can't wait to start exploring homes with you!

You've found a home you love – congratulations! Now comes the strategic part: making an offer. This isn't just about the price; it's about presenting a strong, attractive package to the seller. There are in fact, several factors that sellers look at when selecting an offer.  We must also consider the current market.  Will there by multiple offers on the home or has the home been listed for several weeks.

Here's what goes into a compelling offer:

1.  The Offer Price: When you find a home you love, I will complete a market analysis (comps) to show you what other similar homes have sold for.  We'll determine a competitive offer.

2. Contingencies: These are conditions that must be met for the sale to go through. Common contingencies include:

3. Financing Contingency: Your ability to secure a mortgage

Inspection Contingency: Allows you to have the home professionally inspected.

4. Appraisal Contingency:   Ensures the home appraises for at least the offer price.

We'll discuss how to strategically use or waive contingencies based on the market.

5.  Earnest Money Deposit: A good-faith deposit showing you're serious about buying.

6.  Closing Date: The date you'd like to officially take ownership.  Sometimes, sellers want a fast close.  Other times, they may request 30-60 days of renting back after settlement to complete their move.

I'll guide you through every line of the contract and negotiate fiercely on your behalf to get you the best possible terms.to this item.

Add an answer to this item.Great news – your offer was accepted! This is a huge milestone, but the journey isn't quite over. We're now "under contract," and there are a few more crucial steps before you get the keys.  

The day the contract is signed by all parties is considered the ratification date.  From this date, we  will have a certain amount of days to complete every contingency that was stated in the offer.  Remember, some of these might have been waived when writing the offer.

Here's what to expect during this phase:

1. Home Inspection: This is your chance to get a professional evaluation of the home's condition. We'll review the report and decide if any repairs or credits need to be negotiated with the seller.
2. Appraisal: Your lender will order an appraisal to ensure the home's value supports the loan amount.
3. Loan Underwriting: The lender will finalize their review of your financial documents. Be prepared to provide any additional information they request quickly.
4. Title Search: A title company will ensure there are no liens or other claims against the property, ensuring a clear transfer of ownership.
5. Final Walkthrough: Just before closing, we'll do a final walkthrough to ensure the home is in the agreed-upon condition and that any negotiated repairs have been completed.
6. Closing Day! This is where all the paperwork is signed, funds are transferred, and you officially become the homeowner!

It sounds like a lot, but I'll be with you every step of the way, coordinating with all parties to ensure a smooth closing.

What are you most excited about for your new home?