Buyer's Guide

A Step-by-Step Buyer's Guide

Home ownership makes up a big part of the American Dream. While buying a home is an exciting milestone, you’re also taking on significant costs and benefits that go along with it.  The home buying process varies from state to state, from city to suburb, from farm to high-rise.  This step-by-step buyer’s guide, created by our experienced team, is intended to inform, reduce stress, and provide a road map to homeownership. Whether it is your first home or your twentieth, the more you know, the more you know.  


Step 1: Budget & Finances

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. Determine the monthly payment you feel comfortable with before talking to a lender.

Buying a home may be the biggest financial decision you'll ever make. You want to be sure your finances are solid. Reviewing your current expenses, including what you are paying for rent (or current mortgage) utilities, parking, and insurance, will help you determine what you feel comfortable paying for a mortgage (which includes insurance and property taxes). Take into consideration that a condominium will have an HOA fee which is separate from your mortgage. 

When you've determined what you can afford, calculate a down payment. While 20% down payments used to be the norm, many homeowners opt to put down less. Not sure what your best option is? Contact us for more details. #HomeLifeStyle


Step 2: Want vs. Need

You may already know how many bedrooms you need, whether you need a home office, a back yard or a large kitchen for meals and entertaining guests.  But do you have a need-vs-want list?  Do you need to be near public transit?  Do you want to be near the lake?  Are school districts important to you?  Are you dreaming of a full amenity condo building, or a single-family home?  Once you’ve identified a few neighborhoods, spend time there.  This will help you start your journey to homeownership with focus. As you consider your favorite neighborhoods, take note of the home prices in that area – it will help inform your choices later. #WhatYouWant


Step 3: An Experienced Real Estate Agent

You've got your preapproval in hand. Check! You know what kind of home you're looking for. Check! The right real estate agent makes all the difference throughout the process home buying process. From knowing the ins and outs of the local market to providing moral support when the search feels endless to helping you structure and negotiate the offer.

We meet with you to discuss your goal of homeownership.  With 23 years of top producing experience, we are knowledgeable about the market - locally, regionally, and nationally.  We listen to your wants and needs and provide guidance in helping you identify properties that fit your criteria. Our experience, industry relationships, and wealth of knowledge will benefit you. An informed and experienced agent looking out for your best interest brings detailed insight into process.  We keep you informed on a regular basis about how your search is being optimized and how your path to homeownership is moving forward.  The Keith Goad Group makes client satisfaction our top priority. #ClientSatisfaction

Our goal is to provide you with the most personalized service that is designed to help you buy your dream home.

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Step 4: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). We will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and 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.


Step 5: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at 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. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.


Step 6: Offer Accepted! Now What?

Our work does not stop when your offer is accepted.  After your offer is accepted offer, we will be the quarterback coordinating, inspections, gathering needed documentation, and much more. Contingencies are provided for in the structure of the contract.

Our goal is to provide you with professional, personalized service to create a seamless, positive (and maybe even fun) home buying experience. At any price. #DreamHome


Step 7: Have the Home Inspected

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. We can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.


Step 8: Select Your Loan

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.


Step 9: Get a Home Appraisal

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.


Step 10: Finish Paperwork

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. 

Buyer Resources

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His attention to detail, creativity, follow through, and 22 years of top-producing real estate experience rise above the noise. Whether you are looking for a hip loft space, a historic home, new, modern high-rise digs, or an investment portfolio of properties, Keith can get it done. Contact this team today!

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