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 your agent will help reduce the stress of buying a home and help you enjoy the 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 on 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, downtown activity, 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 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.
Before you get your heart set on your perfect dream home, it is important to speak with a mortgage professional to see what you are actually qualified to purchase. In Marin County's strong real estate market, it is important to have all your ducks in a row so we can hit the ground running and ultimately present the strongest offer. I am connected with knowledgeable mortgage professionals who will assist you in getting preapproved or fully underwritten with a lender. We can help you even if there has been a history of: lack of time at a job, insufficient credit, past bankruptcies, or other financial issues. Talking to a mortgage professional to find out what amount you will qualify for allows us two important things: 1.) We save time in searching for you home, and 2.) We can present a strong offer with the highest chance of acceptance.
Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically you can, but having a professional real estate agent like me costs you nothing and will take most of the stress off your shoulders. I will help identify properties in which you might be interested, arrange showings, and ultimately handle the offer process. I have great, up-to-date knowledge of the Marin County real estate market. I may be able to suggest hidden gems and will give you pointers to help find your dream home for the right price. Being with Coldwell Banker Greenbrae, (Marin County's #1 Top Producing brokerage) and having over 150 agents in my office grants me access to the best networking system in all of Marin County real estate.
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, the parking situation, and how close it 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 you feel comfortable with. I am here to help you negotiate during the purchase agreement process. Once your contract is accepted and ratified, the house will go into escrow.
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. I am here to help you arrange this, and we can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there are major issues you are not comfortable with, we can re-negotiate your offer based on what needs to be fixed, or you can withdraw it.
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.
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.
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.
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.
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.