Buyer Resources

Purchasing your first home can be intimidating, but it doesn’t have to be. The first step in the home buying process is to speak to a good lender to determine your budget, what you qualify for, and if it meets your needs. I’m partnered with great local lenders, with relationships built over past deals and not with kickbacks and incentives.

All agent fees are covered by the seller, so there’s no reason to NOT have a real estate agent help you purchase a home. Some agents will charge you a retainer for their consultation and touring, but that should be discussed in advanced. We do not charge retainers or administrative fees. If you are serious about buying a home, and have been preapproved, we are willing to help you find the perfect home without any upcharges. We believe in fostering life long relationships with each of our clients,

Talking to lenders is not as invasive as many believe. A quick discussion about your employment and a few monthly expenses is all you’ll need up front. They’ll ask questions about employment length, Military Service, and other things that might qualify you for special incentives and discounts. You should not feel any pressure to work with any particular lender, and should talk to a few different ones to see what they have to offer.

You’ll expect me to tell you to hire me, period dot. However, It’s YOUR buying process, and you should be empowered throughout. You’ll meet tons of realtors, and have friends and family giving you recommendations, but you should really vet your realtor to make sure they fit you and can meet your needs. One common pitch you’ll get is how many years someone has been a Realtor. I can tell you from field experience that years of service do not make a competent realtor, as a matter of fact, in the changing digital landscape, I find many Realtors use very out dated tactics that can slow down the process and cause you to miss out on opportunity.

Houses are on the market and sometimes pending sale within 24-72 Hours. If you cannot reach your realtor, you’ve just missed out. If your Realtor doesn’t respond to you in a timely manner, it will slow all methods.

On top of that, it’s important to realize that your Realtor should be an advocate and advisor. You are always allowed to make your own decisions about what types of offers you want to write, but a Realtor worth their salt will be able to tell you key factors on how to WIN. If you aren’t receiving creative options, and methods of offer construction that are unique (IE: “I don’t know, what do YOU want to do”), Fire them.

Another thing to note is that the bigger names use many sub-agents and transaction managers with scheduling hours that may work against you for speed. Make sure you actually WORK WITH the person you talk to.

Key questions to ask your Realtor include:

-Are you full time?

-What are your business hours?

-How have you been winning offers for buyers recently? What methods do you use?

-How much notice do you need for tours?

-Am I working with you directly or someone under you?

-Do you charge any additional fees I need to be aware of? (IE: Transaction fees, administrative fees)

-Are you able to show around my schedule? (And discuss when you’d be available to tour homes.)

Now the fun part begins! You’ll tour homes with your Realtor until you find one you want to live in. When you’ve decided you love this home, your Realtor should make you aware of upfront information that might affect your decision making. Things like the school district, annual taxes, and pre-disclosed maintenance conditions should be discussed. Also, they (or you) should have a quick conversation with your lender about the address so you have an idea what it might cost you to close on the property, so your Realtor can write a contract that meets your needs. I’ll discuss some of those items in the next sections.

Good Question! The associated expenses you need to be aware of upfront are minimal, and we’ll discuss them here.

-Earnest Money Deposit ($250-$2000 depending on buyer)

-Inspection cost (Typically $300-$450 depending on your inspection needs)

When you submit an offer, you typically make an Earnest Money Deposit. This deposit is similar to a down payment, and ranges anywhere from $250-$2000 typically, with $500 being pretty common. You have the option to NOT make this deposit, but it’s a bad show for your offer. This deposit is you putting your money where your mouth is.

The deposit DOES NOT GO TO THE SELLER. Instead, it’s held with your buyers agents broker, securely, and is applied to your purchase at the end of the transaction. It’s not you spending the money as much as you setting it aside for yourself. If you decide to terminate the contract for cause, it’s returned to you. If you decide to terminate for any other reason, it’s still returned to you, though the seller has to agree to release it. If for whatever reason they don’t agree to release it, it has to go to arbitration which takes about 24 months on average, and as such, it isn’t worth many sellers time to try to keep it. I’ve never had a buyer lose earnest money.

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You’ll also want to get an inspection on your potential home. Most lenders require this, and it’s just good practice regardless. You can get a basic inspection on a normal sized home (under 3500 Sq Ft) for about $350. If you require more in-depth inspecting, it’s usually priced piecemeal. A basic inspection covers all the basics, the systems of the home, the condition, the outlets, the roof, the gutters, the attic, the basement, etc. Your lender might also require a termite inspection, that’s usually where the $50 in $350 comes from. You can normally make a decision with a basic inspection, but if you have additional concerns like radon, wells, septic systems, and the like, you might spend a bit more for the inspection. If an inspection goes poorly, this does not return to you, but saves you from making a bad purchase.

We mentioned it above, but it gets it’s own section. ALWAYS get a Home Inspection. You or your Realtor can coordinate this. The inspection occurs as part of a standard contract, with an allotted time set so you can inspect the property, review the inspection, and determine what items need to be addressed for you to press forward with the purchase.

If something comes up that you are completely uncomfortable with, you can walk away from the transaction with piece of mind that you did your research, and continue your search.

Oftentimes, this step allows for discounts for cause (price adjustments due to unseen defects), repairs being made by the seller, or contractors being hired to satisfy your needs.

This is an important step, and a quality Realtor will have knowledge on how to press forward on conditions that cause you alarm.

Many things in an inspection can be negotiated for repair with the seller, and unless an outright deal breaker was discovered, you should always give them the opportunity to make it right, however, you should absolutely be wary of these potentially expensive items that can rack up your ownership costs if not addressed.

-Structural Issues

Major structural issues will be apparent usually, with stress cracks being visible, extreme floor grading, etc. Due to the nature of repairing items like this, most will simply walk away after discovery. If you choose to press forward, you’ll need a structural expert to get a bead on exactly what will be necessary to remedy the situation.

-Roof negligence

If your report has evidence of rampant water intrusion, you’ll want a roofer to go out and look at all associated components that have been effected by water. You’ll want to have the points of intrusion addressed AS WELL as any damage that may have occurred as a result of.

Those are the two major factors seen commonly. But your inspection report will tell you the extents of finding as well as remedies for them.

After we’ve toured, written a contract, had it accepted, inspected, and worked with the lender to get all the underwriting complete, all that’s left is to bust out the champagne, take a selfie, and start moving in.

Of course, there are more steps in the middle, but most of it is legwork on the Realtors end and other entities. Of course, during your buyers consultation, we go over the entire process, that usually takes about 35 days from offer acceptance.

Whenever you are ready to get started, you can click the button below for your free consult!