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  • First Time Home Buyers - Where do we start?

    Wednesday, January 15, 2020   /   by Laurie Neal

    First Time Home Buyers - Where do we start?

    Tired of renting? It's an exciting time to be starting the process of buying your first home. Many buyer's don't realize how many programs are available for them to get assistance in buying their first home.  So where do you start? Well the first thing you want to do is meet with a lender and get pre-qualified.  We have several lenders we work with who we can refer you to, or you can work with anyone of your choosing.  The lender will talk with you about your income and expenses have you complete an online application or come into the office to complete one in person. Once the lender has all your information, he/she will hopefully get you pre-qualified to buy your first home.  At this point, you will receive what is frequently referred to as the "Golden Ticket"!  Now you are ready to start shopping for a home.

    The next step is identifying a Real Estate Agent to represent you.  Many people don't know that when you walk into a new construction site without your own Real Estate Agent, you are agreeing to not be represented in a Real Estate contract should you decide to buy a home from them.  That will be another blog to read....  So at this point you identify an agent who you connect with and who can assist you in finding your perfect home.  If you're reading this Blog, myself and my team are always happy to help, feel free to text, email or call us.

    Your agent will talk with you about the criteria you are looking for in a home, this way he/she can set up a search for you so that you can see what homes are currently on the market.  When you identify a home you are interested in seeing, you call your agent and he/she will schedule a showing for you.  During your showing, you can check out the home to see if it meets your needs.  Many times you will view several homes, it's best to rate each home as you view it taking notes of likes and dislikes, that way you can eliminate some of the homes making the decision easier.

    Once you have identified your home, the agent will assist you in writing an offer.  The agent will represent you in making sure you are offering a price that is right for the market, so that you don't over pay for a home and assist you in getting the best price you can.  Once the offer is written, your buyer's agent will forward it to the listing agent to review with the seller.

    The seller will consider your offer and either accept it, counter it, or reject it.  If the offer is accepted, you have an "executed" contract.  If the seller counters the offer, you will then have the opportunity to accept it or counter it.  Once all parties come to an agreement buyer and seller have an executed contract.  At this point, you the buyer, will take your earnest money check to the escrow company shown on the purchase contract.