Buyer's Guide

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.

Just because you think you can afford a certain payment every month does not 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 your eligible amount and loan type as this affects the type of property search, as well. There are various loan options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA, USDA, or FHA loans. Work with your mortgage lender to select the option that works for you. This will also be an advantage when you make an offer on a home as most sellers won’t entertain offers from those who aren’t already prequalified for a loan.

This should be the most enjoyable step of the entire process (other than moving in!) We 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.

After getting an accepted offer based on the lender, loan type, amount and down payment minimums you submitted, go back to the mortgage company who pre-approved or pre-qualified you and submit all remaining documents in order for the lender to begin processing the application in underwriting (if not already underwritten.) Work with your lender to monitor and lock in your rate.

In most cases, your offer will be contingent on having the home inspected to ensure the there’s no condition that would have a significant adverse effect on the property, that would significantly impair the health or safety of future occupants of the property, or, that if not removed, repaired or replaced or adversely affect the expected normal life of the premises. We 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, we may renegotiate during this process based on what needs to be fixed and the Purchase Agreement terms, waive the issues, or notify the parties we intend to release after you consult a real estate attorney, as necessary.