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.
Step 1: Research
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.
Step 2: Decide on Your Budget
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.
Step 3: Get Prequalified
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.
Step 4: Choose a Real Estate Agent
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 my 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.
Step 6: Make an Offer
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.
Step 7: Have the Home Inspected
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. I 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.
Step 8: Select Your Loan
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.
Step 9: Get a Home Appraisal
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.
Step 10: Finish Paperwork
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.
Congratulations!
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.
01
Initial Consultation
Begin your home buying journey with a personalized consultation. Rosie Torres Nila, your dedicated Realtor, listens to your needs, aspirations, and budget. Together, we define your dream home criteria, ensuring a tailored and efficient search process.
02
Property Search and Selection
With your criteria in mind, Rosie conducts a thorough market analysis. She identifies potential properties, presenting you with a curated selection that aligns with your lifestyle, preferences, and investment goals.
03
Negotiation and Offer
Rosie leverages her expertise to negotiate the best terms for your dream home. From price to contingencies, she ensures a fair deal. With attention to detail, she crafts a compelling offer that stands out in the competitive real estate landscape.
04
Due Diligence and Inspections
Once your offer is accepted, Rosie guides you through the due diligence process. She coordinates inspections, ensuring you have a comprehensive understanding of the property’s condition. Rosie’s meticulous approach guarantees informed decisions at every step.
05
Financing and Closing Process
Rosie collaborates with trusted lenders to streamline your financing. She keeps you informed about the closing process, navigating paperwork with precision. Rosie ensures a smooth transition from offer acceptance to the final closing, minimizing stress and maximizing efficiency.
06
Post-Closing Support
Your relationship with Rosie extends beyond closing. She provides valuable post-closing support, assisting with any remaining tasks or questions. Rosie’s commitment to your satisfaction is unwavering, making your transition into your new home seamless and enjoyable.
What
My Clients Say
Sarah Mendez
Working with Realtor Rosie was the best decision we made during our home-buying journey. She was incredibly knowledgeable, patient, and genuinely cared about finding us the perfect home. Rosie made the entire process smooth and stress-free!
Thompson
Rosie went above and beyond to sell our home quickly and at a great price. Her marketing strategy was impressive, and her communication throughout the process was outstanding. We highly recommend Realtor Rosie to anyone buying or selling a home!
Jason Lee
As a first-time homebuyer, I had a lot of questions and concerns. Rosie was always available, explaining every step in detail and making sure I felt confident in my decisions. She’s not just a realtor—she’s a true advocate for her clients.
Priya Desai
Realtor Rosie is simply amazing! She helped us relocate to the area and made us feel right at home. Her knowledge of the local market and neighborhoods was invaluable. We couldn’t have done it without her!
Thomas Rivera
Rosie made selling our home a breeze. She staged the property beautifully, handled all negotiations like a pro, and got us multiple offers within days. Her professionalism and warmth made her a joy to work with.
Seller’s Guide
About Rosie
Work With Rosie
The key to Rosie's success has also been her patient demeanor and dedicated work ethic. She is generous in offering information, and more importantly, she truly listens rather than talks.
