Buying Your First Home? You’ve Come to the Right Place
The time has come, you are tired of living in spare bedrooms and paying exorbitant prices for apartments. It’s time to buy your first home. Getting started with this task can be daunting. Where do you start? What are the best neighborhoods? What is the best price? For first-time home buyers, the representation of an exclusive buyer’s agent is absolutely essential. When a buyer’s agent is involved, the majority of the confusion is immediately dispelled as they provide the information and guidance to help you succeed.
Buyer’s agents only represent the buyers, never represent sellers, so you can rest assured that your interests will be protected from the very first move.
To help you get started on your home-buying journey, here are some tips for getting the process started!
1. Get A Buyer’s Agent
The first step to securing an agent should always be assuring the security of representation. At Buyer’s Agent, we always make the commitment to only represent the buyer in every way. We can make your life easier by referring you to local, reputable lenders (if you don’t have one already!)
Once you have an agent, contact your lender about obtaining a mortgage pre-approval, not a pre-qualification. Ask your Buyer’s Agent representative about the difference and the importance between a pre-approval and a pre-qualification.
2. Determine How Much You Can Afford
The next step is to determine how much you can afford, and if this is the right time to take the leap into homeownership. Buyer’s Agent can help you prioritize your hopes and dreams in a home, beginning with your wants vs. needs list, and the basics you need in a home (number of beds, baths etc.) for your household.
Your buyer’s agent will provide you with a home buying consultation to determine your overall home buying budget, down payment, mortgage pre-approval, homeownership expenses, utilities, and so on. They can also suggest if this is the right move, or if it would be better to rent and save money.
3. Make an Offer and Negotiate the Price
With your priorities understood, Buyer’s Agent will find you your “ideal” home and not waste your time looking at homes that are just “fine” and available. We understand the market, and can point you in the right direction in regards to neighborhoods and perfectly priced houses.
Your agent has access to sales records of similar homes in your neighborhood. They can help you understand if the home you are interested in is fairly priced, overpriced or underpriced.
Buyer’s Agent will negotiate the home purchase on your behalf, based upon your instructions and wishes, while protecting your best interests. When you’ve found your ideal home, make an offer based on the expert advice of our exclusive buyer’s agents!
4. Order a Home Inspection
Now that your offer has been accepted, it’s time to order your home inspection, purchase your homeowner’s insurance, and prepare for closing. The home inspector will look for hidden problems throughout the home and you can learn about any major issues that may prevent you from buying the home.
If there is a problem, that could affect the price of the house and enter into a new negotiation process. Buyer’s Agent will never leave your side through any issues that may arise, and will work to resolve them quickly and efficiently.
5. Manage the Escrow and Closing Process
Once that is finished your pre-closing documentation will arrive! Buyer’s Agent will explain all of your transaction costs so you can proceed to the scheduled closing. All of the documents, money and other necessary information is required in this stage before you can close on the house.
Once everything is completed, you can sign the closing papers and once closed, get your new keys!
If you are looking to buy your first home and want to speak to an experienced exclusive buyer’s agent, give us a call today!