Step 1: Compile Your Wish List
Decide which communities, home features, and property types you and your family prefer. Have candid conversations about which of these characteristics are required, and which are “nice to have” in your next home.
Buying a home should be 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 homebuyer’s guide created by your agent will reduce the stress of buying a home and help you enjoy the journey.
Decide which communities, home features, and property types you and your family prefer. Have candid conversations about which of these characteristics are required, and which are “nice to have” in your next home.
Examine your current expenses and determine how they might change if you purchase a home. Create a comprehensive household budget so you can factor in any new ongoing expenses that might come with a home purchase, such as garbage and recycling, water, or homeowner’s association fees. Once you decide how these expenses will change, you’ll be better equipped to leverage the information you get in step three.
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. Provide the loan officer with accurate and truthful information so they can get a full picture of your financial strength and provide you with a realistic budget. It’s so exciting to search for your home – but especially so when you don’t have any stress about your ability to make the purchase you want to make.
Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, we also have knowledge of the market. 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 homes that meet your dream home criteria so you can find the one that's right for you.
Finding the perfect home and navigating the purchase process can be daunting. Leverage my knowledge and expertise and enjoy your personalized real estate journey.
Once you have selected the perfect home, work with your agent to craft a winning offer based on the value of comparable homes on the market. Depending on what the home’s list price 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. Let us provide you with the resources to make the best offer to make it your home!
Your agent will arrange showings of properties that meet your specific criteria and price range, taking note of your likes and dislikes to further refine their search parameters. Your agent will help you explore the details — from storage to light switches to the flow of a home — and understand the pros and cons of the options in front of you. Your agent will also help you make time to explore the neighborhood and examine elements like local traffic at different times of the day, parking options, and proximity to neighborhood amenities like schools and grocery stores.
Once you have selected the perfect home and have your finances in order, your agent will help you craft a fair offer price based on the value of comparable homes on the market. You’ll also work through details such as timing, contingencies, and fees. After your agent submits the offer on your behalf, your agent will help you negotiate counteroffers and reach an agreement with the seller. At this point, the house will go into escrow.
Once you’re under contract, we will send your accepted to offer to your lender and you will 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 best option.
The appraisal ensures that you are paying a fair price for the house. Your mortgage provider will hire an appraiser to inspect the property and offer an independent opinion of its value. Sometimes, appraisals may come in too low, which can impact the amount of money the bank is willing to lend. In this case, your agent can help you determine next steps and navigate the appeal process.
No one looks forward to all the paperwork stacked up on the closing table, 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 be the legal owner of your new home.
After signing the closing documents with the title company to complete the purchase, the title company will return the documents to the lender and they will fund your loan. You are now the owner of a new house. Welcome to home ownership!
16101 Cantrell Rd Little Rock, AR 72223
16101 Cantrell Rd Little Rock, AR 72223
