A Guide For
First Time Home Buyers
The process of buying real estate can be complex and time consuming.
This short guide will outline a smooth path to finding the ideal property for you. Before beginning however, it is important to have an end goal in mind.
What I mean by this is you need to know what your budget is and how much you will qualify for. A 10 minute, free phone call with a Mortgage Lender, will give you a good idea of how much you can afford to spend and will get you started looking in the proper price range.
Imagine looking at homes first, finding one you love, and then learning you can’t afford it. What a let down!
Conversely, imagine the excitement when you learn from your lender that you actualy qualify for more than you thought!
Once you have spoken with a lender, and have an end goal in mind, you can begin the process of achieving that goal.
A Realtor can help you save time with the entire home search, shopping and buying process. He/She can create a list of properties for you and they will use their expertise in the local market to identify the best values for you.
All of this (and more) can be done for you in 8 easy steps.
Step 1: Consultation Session
Your Realtor’s goal is to match your needs with the best values available in real estate.
The first step in the process is to determine the most important features that you need with your property, including price range. This is determined through a Buyer Consultation.
During the consultation, you and your Realtor will explore your needs, examine your wants, and determine what the best way forward is for your specific situation.
Once this is determined you can move to step 2.
Step 2: Initial Property Search
After determining exactly what you need, your Realtor will find the best properties that meet your criteria.
This step includes searching the MLS (multiple listing service). It also includes extensive networking with other real estate agents and researching pocket listings, FSBOs, upcoming listings, bank owned, short sale opportunities, Rehab projects, recently renovated properties, etc.
Step 3: The List
After doing the initial property search, your Realtor will create a list of properties that meet or exceed your expectations. You will also be set up with a portal into the MLS system which will give you real time, immediate access, to all of the homes that meet your search criteria.
Step 4: Setup Showings
After you identify the properties you want to see on the list, your Realtor will coordinate showings of those properties.
Together, you will visit the homes you have selected.
Step 5: Pre-Offer Research
After finding a property that you like, and more importantly can see yourself living in, you can discuss an offer price with your Realtor. He/She will do further research to determine what represents good value for you as the buyer. He/She will research property details, value, and provide a complete property analysis & comparative market analysis.
Step 6: Offer Strategy
Together with the you, the buyer, your Realtor will create an initial offer price, terms, and conditions. They will draft the purchase offer and they will present it to the seller’s agent.
Step 7: Negotiation Skills
Your Realtor will use his/her expertise in the local real estate market to handle any negotiations with the seller.
The goal is to reach an agreement, price, and terms that work for you.
Step 8: Completing The Sale
Your Realtor will work with all parties involved in the transaction such as escrow, title, inspections, seller’s agent, etc to ensure the sale is moving along at a proper pace. There can be as many as 20 people involved in a single transaction!
It takes coordination to navigate the process and reach the final conclusion; receiving the keys to your new home!
Working with a Realtor as your buyer’s agent will allow you to quickly access properties that meet your needs. Your Agent will help you to save time by creating a list of properties for you to review.
He/She will also help to identify additional buying opportunites that may have been missed without their help. Additionally, a Realtor will provide valuable assistance in determing an initial offer price, handling negotiations, and follow through on all of the important matters during the home buying process.
Your Realtor will be your advocate during the buying process, safeguarding your rights and guiding you all the way to closing.
The Next Step
Let’s talk. I may already have the property that meets all of your needs.
Contact me today so we can discuss your needs.
I look forward to not only finding the property you want but also working hard to get it at the best price possible, in the best amount of time, and with the least amount of hassle.
Call TODAY to schedule your FREE, no obligation, Buyer’s Consultation!