Buying
a Home
The Agent Advantage
Buying a home is an incredibly rewarding experience. Especially if you’re a first time home buyer. It is also one of the most important financial (and personal) decisions you will make in your life—which is where we come in.
In addition to providing you a higher level of service, having a real estate professional in your corner means you will have a full-service partner to act on your behalf to help you navigate the process and help you find a home you love.
What is the agent advantage?
Real estate can be confusing so it’s vital to work with someone who knows their stuff. We will guide you through your home search with an unbiased eye and offer objective information. We can also offer insight about local amenities, utilities, zoning rules, contractors, and more. Our career and livelihood is based on knowing or finding the answers to your questions.
A home is so much more than four walls and a roof. We will be your rock during emotional moments by helping you stay focused on the issues most important to you when emotions threaten to sink an otherwise sound transaction.
Our expanded search power gives us access to thousands of listings 24/7. We will do the heavy lifting for you, which will save you time and money. By having an experienced advocate on your side, we can help you avoid costly mistakes and unnecessary delays
Home Buying Process
Whether you’re a seasoned home buyer or this is your first time, we are committed to helping you turn your vision of the ideal home into reality. Our step-by-step game plan will help you know what to expect from start to finish.
01
INITIAL CONSULTATION
It’s all about you. This is our opportunity to find out what you need/want as a buyer and to answer any questions you have about the home buying process.
02
PROPERTY SELECTION PARAMETERS
Along with your wants and needs, we will also look at location, price, and style/condition to determine the properties we look for and eventually see in person.
03
MORTGAGE PRE-APPROVAL
Sellers are typically more willing to accept an offer from a pre-approved buyer. A pre-approval estimates the amount you will be able to borrow which will help us know how much house you can afford.
04
HOME HUNTING BEGINS
We will look for homes that fit your criteria in the areas you’d prefer to live in. While this can feel like a process of elimination, it is an important step to help you find a home you love.
05
MAKE AN OFFER
Once we find “the one”, we will work together to come up with an offer. By leveraging skills and expertise, we seek to negotiate the best price.
06
EARNEST MONEY
This good faith gesture tells the seller you’re serious about buying their property. Typically 1–5% of the purchase price of the home, earnest money becomes part of your down payment.
07
HOME INSPECTION
A home inspection will allow you to take a more thorough look at the property and to ensure there are not any hidden issues with the home.
08
HOME APPRAISAL
If you are getting a loan, your lender will schedule an appraisal to ensure the property is worth the purchase price you agreed to.
09
FINAL WALK THROUGH
This is an opportunity to take one last look at the property to make sure it is in the same condition before you sign on closing day.
10
CLOSING
Once the contract is accepted, mortgage approved, and inspections have been performed, you will sign paperwork to complete the purchase and receive keys to your new home. Time to move in!
INITIAL CONSULTATION
It’s all about you. This is our opportunity to find out what you need/want as a buyer and to answer any questions you have about the home buying process.
PROPERTY SELECTION PARAMETERS
Along with your wants and needs, we will also look at location, price, and style/condition to determine the properties we look for and eventually see in person.
MORTGAGE PRE-APPROVAL
Sellers are typically more willing to accept an offer from a pre-approved buyer. A pre-approval estimates the amount you will be able to borrow which will help us know how much house you can afford.
HOME HUNTING BEGINS
We will look for homes that fit your criteria in the areas you’d prefer to live in. While this can feel like a process of elimination, it is an important step to help you find a home you love.
MAKE AN OFFER
Once we find “the one”, we will work together to come up with an offer. By leveraging skills and expertise, we seek to negotiate the best price.
EARNEST MONEY
This good faith gesture tells the seller you’re serious about buying their property. Typically 1–5% of the purchase price of the home, earnest money becomes part of your down payment.
HOME INSPECTION
A home inspection will allow you to take a more thorough look at the property and to ensure there are not any hidden issues with the home.
HOME APPRAISAL
If you are getting a loan, your lender will schedule an appraisal to ensure the property is worth the purchase price you agreed to.
FINAL WALK THROUGH
This is an opportunity to take one last look at the property to make sure it is in the same condition before you sign on closing day.
CLOSING
Once the contract is accepted, mortgage approved, and inspections have been performed, you will sign paperwork to complete the purchase and receive keys to your new home. Time to move in!
HOUSESHOPPING
Loan Approval
Gaining loan approval guides our search parameters and lets sellers know you are serious about purchasing a home. If you don’t already have a relationship with a lender, we will provide you with a few recommendations.
Regardless of who you choose, we will ask that you pick a lender who has been recommended to you by someone you trust. Having an experienced financial advocate in your pocket will ensure that you will close on time without any last minute surprises.
tips for a smooth loan approval process
❱ DO continue making your mortgage or rent payments, on time.
❱ DO stay current on all existing accounts.
❱ DO keep working at your current employer.
❱ DO keep your same insurance company.
❱ DO continue living at your current residence.
❱ DO continue to use your credit as normal.
❱ DON’T make any major purchases (car, furniture, boat, jewelry, etc.).
❱ DON’T apply for new credit.
❱ DON’T transfer any balances from one account to another.
❱ DON’T close any credit accounts.
❱ DON’T change bank accounts.
❱ DON’T max out any credit accounts.
❱ DON’T consolidate your debt onto one/two credit cards.
❱ DON’T start any home improvement projects.
❱ DON’T open a new cell phone account.
❱ DON’T join a new fitness club.
❱ DON’T pay off any loans, credit cards, collections accounts, or charged off balances without talking to your lender first.
Making An Offer
We’ve found the perfect house. Now, it’s time to make an offer. This is where I’ll help you negotiate and navigate counter offers to make sure you get the best deal.
Negotiating an Offer
We will work together to determine an appropriate amount to offer.
Things we’ll consider include:
❱ How long has the home been on the market?
If it’s been sitting for a while, we might be able to lower our offer price.
❱ What are other homes in the area selling for?
Looking at comparable properties will help us make a fair offer.
❱ Do repairs or renovations need to be made?
We might be able to ask for concessions to lower the sales price of the home.
❱ What are the current market conditions?
Depending on competition, we will come up with a strategy to ensure your offer is accepted.
❱ What other costs are necessary before move in?
To stay on budget, we will account for any new appliances or improvements that need to be made to the property before you move in. This includes factoring in closing costs.
Signing the Contract
Once your offer is accepted, you’ll make a good-faith deposit known as “earnest money” (generally 1–2% of the purchase price of the home). This deposit will be safeguarded in an escrow account until closing and used toward your down payment.
From Contract to Close
Scheduling a Home Inspection
Purchase offers are typically contingent on a home inspection to check for serious defects. Even if the home appears to be flawless, there is no substitute for the peace of mind that comes with a professional inspection of your potential new home.
Inspections are usually conducted within a few days of your offer being accepted by the seller. If the inspection reveals anything that was not disclosed by the seller, we can ask the seller to make repairs, renegotiate your offer, or withdraw it without penalty..
Appraisal
Your lender will schedule a third-party appraisal. The appraiser develops an independent, impartial, and objective opinion of the value of the property.
Scheduling The Close
Once the bank provides clearance to close, we will coordinate a final walk-through and schedule your closing date.
Average Home Buying Timeline
Offer Accepted
2 MO. BEFORE CLOSE
Home Inspection
1 MO. BEFORE CLOSE
Appraisal
1 MO. BEFORE CLOSE
Loan Approval
1-2 WK. BEFORE CLOSE
Final Walk-Through
1-2 WK. BEFORE CLOSE
ClosingDay!
CLOSINGTHE DEAL
Closing Day
Closing date is the day you become the legal owner of your new home! To make sure everything runs smoothly at your closing appointment, you’ll need to bring a few things which could include:
❱ Photo ID of everyone who will be on the deed of the home.
❱ Any outstanding documents/paperwork for the title company or mortgage loan officer.
❱ Certified check or cashier’s check made payable to the title company for closing costs that are not being deducted from the sales price.
What are Closing Costs?
Total costs vary, but you can expect to pay 2–5% of the mortgage loan. These costs include: origination fee, underwriting fee, appraisal fee, credit report fee, and title search fee.
You will Receive the Following
Loan Estimate
Important information about your loan, including terms, interest rate, and closing costs.
The Initial Escrow Statement
This form contains any payments the lender will pay from your escrow account during the first year of your mortgage.
Mortgage Note
This document indicates the amount and terms of the loan and what the lender can do if you fail to make payments.
Mortgage or Deed or Trust
This secures the note and gives your lender a claim against your home if you fail to live up to the terms of the mortgage note.
Certificate of Occupancy
If you are buying a newly constructed house, you need this document to move in.
Buyer’s Costs
Here are the typical estimated costs associated with the sale of a single family home or townhome:
| 6% | $300 – $1,250 | Usually, 1 – 2% of purchase price | $550 – $750 | $30 – $50 | 1 – 3% of the loan amount | Usually 3 – 20% of purchase price | $750 – $1,600 | $200 – $400 |
*The above costs are estimated and will vary with each property. Fees subject to change.
©2025 Windermere Real Estate
