Buying a home is one of the most powerful 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 I created will help reduce the stress of buying a home and help you enjoy this exciting journey as much as possible.
Do you already know where you want to buy? Do you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available both on and off the market now? If you aren't quite sure of your answers to these questions, then now is the time to start researching. I can help you pinpoint neighborhoods, weather pockets, school districts, activities, and communities that appeal to your specific needs. This provides valuable insight into the housing trends in your targeted neighborhoods and will help when the time comes to find your perfect home and make an offer.
Notice I 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 are a first-time home buyer, there will be new expenses like insurance, property taxes, garbage, water, or HOA fees that could impact your budget.
Can you shop for, look at, and ultimately make an offer on a home without a real estate agent?
Yes. However, doing so can come with significant risks. Working with a skilled professional not only helps you avoid costly mistakes, but also removes much of the stress from the buying process. There are a significant amount of hurdles to navigate when purchasing a property, and you need an expert who will have your best interests and protect you throughout the transaction.
As your agent, I will identify properties that match your needs and arrange private showings. With strong, up-to-date intel in the housing market, I help clients discover both on-market listings and exclusive off-market opportunities. My goal is to uncover hidden gems and provide strategic guidance to help you secure your dream home at the right price.
I am proud to be part of Coldwell Banker Greenbrae, Marin County’s #1 top-producing brokerage. I am also an active member of several elite agent networks. These connections give my clients unparalleled access, insight, and a competitive advantage throughout their home-buying journey.
Once we find your perfect property, I will carefully guide you through every stage of the offer, negotiation, inspection, and closing processes. I always aim to ensure a smooth transaction and closing.
Are you an all-cash buyer, or will you be financing your first home? Most first-time home buyers opt to finance a portion of their new home. There are many types of loans out there, from FHA and VA to conventional and hard money loans.
If you are going the loan route, it is crucial to get pre-approved as soon as possible. Why? So we can determine your purchase price point. You wouldn't want to fall in love with a home you cannot afford, and conversely, you would not want to settle in on a house and find out you could have bought a better, bigger one!
A pre-approval turns your "Rough Budget" into real dollars. The pre-approval process is a lender’s way of confirming how much you can borrow before you start shopping for a home. You’ll begin by submitting financial information, such as income documents, tax returns, bank statements, credit history, and employment details. The lender reviews this to assess your creditworthiness, determine a loan amount, and estimate your interest rate.
Once approved, you’ll receive a pre-approval which shows sellers and listing agents that you are a serious, qualified buyer. In Northern California’s competitive market, this letter is essential and must be presented with your offer.
I have solid connections with many locally respected lenders and mortgage brokers here in the Bay Area. Using a local lender makes for a stronger offer because when a lender has a proven track record, sellers will pick that lender to lessen the chances of an escrow falling out.
Shopping for a new home can be the most enjoyable step of the entire process for some people.... and for others, not so much. That's okay! I can research properties for and/or with you to help narrow the field. I will also arrange showings of these homes so you can see them in person. I am happy to conduct video tours if you live far away, don't have the time, or prefer to have something to rewatch. When touring a home in person, feel and breathe the space. Don’t limit your inspection to the home itself. Make sure to take time to explore the surrounding neighborhood. Keep an eye on traffic at certain times of the day, see what the parking situation is like, and how close the home is to necessities like schools and grocery stores. Take notes about what you like and dislike because it helps me gain a better understanding of your dream home so I can pinpoint our search more accurately.
Once you have selected the perfect home, we will craft a fair and competitive offer based on the value of comparable homes on the market. Depending on the home's listing 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. I am here to provide current market expertise so you can make a purchase offer that is competitive and comfortable. I will negotiate and advocate on your behalf during the entire purchase agreement process. Once your contract is accepted and ratified, the house will go into escrow.
Insurance is a fluid and ongoing conversation in California. Finding and securing homeowner's insurance can be a tricky piece to navigate. With my wealth of connections in the insurance industry, I can make introductions with insurance agents and brokers. They will help you find and secure a homeowner's policy which suits your needs and protects your investment.
In some cases, when your offer is accepted, it might be contingent upon having the home inspected to ensure no major structural damage or large repairs are needed. I work with many home inspectors and vendors and am here to help you maneuver this. Typically, we can schedule any new or additional inspections within days of ratifying an offer. If there are no major issues, the buying process moves on to the next step. If newfound problems arise and you are not comfortable, we can re-evaluate and re-negotiate your offer based on what needs to be fixed, or we can discuss withdrawing your offer altogether.
Once you have secured insurance, have competed inspections, obtained and read all the documentation on the property and you are satisfied, it will be time to lift any remaining contingencies. Once a buyer removes all of their contingencies, the transaction moves from a "Contingent" status to a "Pending" status. Typically this means that both the buyer and the seller are locked in, and are awating Closing Day. During this pending period, escrow is busy collecting all documents and monies to prepare for closing.
Your escrow officer will contact you regarding the signing of final documents. You will be meeting with a notary and will need to bring a driver's license and possibly another form of identification. Once all the documents have been signed and the final money has been wired and received into escrow, we wait until closing day.
Three to five days before closing, we will do a final walkthough of the property together. This ensures the property is in the same condition as the day you purchased, and that all repairs (if any) have been completed.
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. When you are finished, you’ll know you are one step closer to becoming the legal owner of your new home.
Once escrow has received all signed paperwork and money from all parties, your escrow officer will file a new title with the county. Once the county has the deed on record, then you will be the proud owner of your new dream home! And that is when we CELEBRATE!!! Cheers!
I look forward to working with you.
Erin's primary objective in being a real estate sales associate is to conduct business with the highest level of integrity. As with teaching, in her real estate practice Erin continues to uphold a fiduciary duty to her clients, putting their goals, dreams, and needs above all else.