Buyer's Guide

Step 1: Research

Do you already know where you want to buy? If 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 answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

Step 2: Decide on Your Budget

Notice we 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’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

Step 3: Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. 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.

Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. 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 around some homes that meet your dream home criteria so you can find the one that's right for you.

Step 5: 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 6: 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 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.

Testimonials

Dale & Rosemarie

Thank you for helping me and my family purchase a home. You and your team were awesome. You not only found the home we were looking for but you also negotiated a screaming deal for us and we were able to get this home for under...

Joe & Joeylynn

I just got the keys to our brand new dream home and closed escrow on our old home all in the same week. I’m so excited. I even screamed and did a happy dance in the sales office. I’m so happy I’m beside myself. Now to unpack it...

Elsa

Tony Elias & Associates has made another happy client. Marilyn helped us throughout the whole process and was always there for us. She walked us through every step of the sale and was very professional and upfront about everyth...

John & Rosanna

We met Christina with Tony Elias & Associates through an open house and she was super professional. She helped us sell our house in 5 days and found her own buyer through her Mega Open House and 21 Point Marketing plan and was ...

Gloria A.

We had our home on the market for 101 days with our previous agent and did not get one offer. We interviewed 5 agents in hopes to pick the right agent and decided to go with Tony Elias. He not only did what he said he would do ...

Evelyn

Hello Tony, so now that it’s a done deal I’d like you to know that I figured out that in the last 10 years I’ve have been involved in 7 real estate transactions and Shirley Lane was by far the slickest and most efficient one of...

Cheska C.

Tony is the best agent you could have. He knows what he is doing and he has so much experience. He kept me in the loop the whole time and explained the process every step of the way. I was never lost or confused about what was ...

Justin & Doris

We had a home to sell and we had it on the market with two agents and neither one of them sold our home. We interviewed over 20 agents and decided to go with Tony Elias & Associates and it was the best decision I could have eve...

Summer

Tony and his exceptional team helped my husband and I purchase our first home. Before we met him, we were not seeing a real return on the enormous amount of effort we poured into finding the right home and having our offers acc...

Jaimie H.

I’ve had Tony’s help twice now selling my home. My first experience was went so well, I didn’t even think about trying someone else. It’s always a little overwhelming trying to look up rates, trends, and home values to get star...

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A Step-by-Step First Time Buyer's Guide

Step 1: Research

Step 2: Decide on Your Budget

Step 3: Get Prequalified

Step 4: Choose a Real Estate Agent

Our Goal Is to Provide You with The Most Personalized Service that Is Designed to Help You Buy Your Dream Home

Step 5: Find the Right Home

Step 6: Make an Offer

Step 7: Have the Home Inspected

Step 8: Select Your Loan

Step 9: Get a Home Appraisal

Step 10: Finish Paperwork

Congratulations!