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Buyer's Guide

A Step-by-Step First Time Buyer's Guide

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 our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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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.

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Step 2: Decide on Your Budget

Notice we 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.

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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.

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Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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Step 5: Find the Right Home

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.

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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. We 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.

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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. 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, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

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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.

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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.

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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. 

See Why Our Clients Love Us

Testimonials

"Keith and Jonell Bozeman represented our family on the purchase of our Black Lake home on 2018. They did an amazing job during a time when it was difficult for a buyer to tour a home and get an offer in before another buyer did. They even helped us coordinate some of the modifications we wanted to make once the home was ours. I would recommend Keith or Jonell for a listing or for finding your next real estate venture."
"Keith and Jonell Bozeman represented our family on the purchase of our Black Lake home on 2018. They did an amazing job during a time when it was difficult for a buyer to tour a home and get an offer in before another buyer did. They even helped us coordinate some of the modifications we wanted to make once the home was ours. I would recommend Keith or Jonell for a listing or for finding your next real estate venture."
John E.
"Keith Bozeman is a great real estate broker. When he helped us purchase our home, he listened to our every request for information. He was immediately responsive to our questions to help us make a decision. His insight was extremely valuable to us, and I don't think we could have done this without He was very. knowledgeable about the neighborhood and what to look for when evaluating a house. Thank you for your great service"
"Keith Bozeman is a great real estate broker. When he helped us purchase our home, he listened to our every request for information. He was immediately responsive to our questions to help us make a decision. His insight was extremely valuable to us, and I don't think we could have done this without He was very. knowledgeable about the neighborhood and what to look for when evaluating a house. Thank you for your great service"
Johny J.
"Keith was extremely helpful in assisting with our search for a forever home. He invests time up front getting to know his clients’ needs and as we began searching, he was able to provide guidance with his experience. With Keith’s help we were able to find a great buying opportunity that resulted in us feeling we got the most value for our investment and home for our growing family. Thank you, Keith and Jo!"
"Keith was extremely helpful in assisting with our search for a forever home. He invests time up front getting to know his clients’ needs and as we began searching, he was able to provide guidance with his experience. With Keith’s help we were able to find a great buying opportunity that resulted in us feeling we got the most value for our investment and home for our growing family. Thank you, Keith and Jo!"
Celerina C.
"I highly recommend working with Keith and Jonell if you’re in the market for buying or selling a home. Their expertise and professionalism made the entire process, seamless and stress-free. From our initial consult to the final closing, they demonstrated a deep knowledge of the local market, providing valuable insights and guidance, every step of the way. Their proactive communication insured we were always informed, and their negotiation skills were exceptional, resulting in an outcome that exceeded our expectations. Working with Keith and Jonell was not only productive but also enjoyable, thanks to the friendly demeanor and commitment to client satisfaction."
"I highly recommend working with Keith and Jonell if you’re in the market for buying or selling a home. Their expertise and professionalism made the entire process, seamless and stress-free. From our initial consult to the final closing, they demonstrated a deep knowledge of the local market, providing valuable insights and guidance, every step of the way. Their proactive communication insured we were always informed, and their negotiation skills were exceptional, resulting in an outcome that exceeded our expectations. Working with Keith and Jonell was not only productive but also enjoyable, thanks to the friendly demeanor and commitment to client satisfaction."
Todd S.
"Amazing and professional experience. Have used Keith and Jonell on multiple occasions to buy and sell homes. If you want a realtor who would go to bat for you and market you for success whether a buyer or seller use Keith and Jonell."
"Amazing and professional experience. Have used Keith and Jonell on multiple occasions to buy and sell homes. If you want a realtor who would go to bat for you and market you for success whether a buyer or seller use Keith and Jonell."
Dan S.
"They were very responsive. Always making sure that we were well informed and helped us through the entire process. This is the second time that they have helped us sell our house and buy our new home. Each time they have been so supportive and helpful in the process. Our houses have sold above our asking prices and have stayed on the market for less than 2 weeks! If we ever need to buy or sell a house we will utilize their expertise because they have made the process so easy and have always delivered above and beyond our expectations!"
"They were very responsive. Always making sure that we were well informed and helped us through the entire process. This is the second time that they have helped us sell our house and buy our new home. Each time they have been so supportive and helpful in the process. Our houses have sold above our asking prices and have stayed on the market for less than 2 weeks! If we ever need to buy or sell a house we will utilize their expertise because they have made the process so easy and have always delivered above and beyond our expectations!"
Ryan W.

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