Home Buyer's Guide

Ready to purchase a home? We can make the process as seamless as possible. From your first tour to your closing day, we’ll be by your side every step of the way.

STEP ONE

Pre Approval

The pre-approval process determines how much money you can borrow to purchase a home. Lenders take into account variables such as your income, assets, and credit score to conclude what loans you’re eligible for and what your interest rate will be.

Why go through the pre-approval process?

• Earns you credibility
• Helps you understand your budget
• Gives you an advantage in a multiple-offer situation

A FEW THINGS

To Consider

• Don’t change jobs
• Stay away from expensive purchases
• Include all debts or liabilities on your loan application
• Avoid any new credit inquiries
• Leave your bank account as it is

TIPS FOR ATTENDING AN

Open House

An open house is where you can tour a property and see if it might be the right fit for you. If you attend an open house without your agent, make sure you: 

• Bring your agent’s business card with you so the open house host has their information
• Contact your agent if you’d like to put in an offer
• Keep in mind the open house host represents the selling party

STEP TWO

Making an Offer

You’ve toured properties and areas, and you’ve found what may your dream home. Now it’s time to work with your agent to express your interest and make an offer.

A FEW THINGS

To Consider

Financial variables

• Price
• Down payment amount
• Interest

Logistics

• Closing date
• Inspection contingency
• Radon testing​​​​​​​

Earnest money

The amount of money you deposit in a trust once your offer is accepted. It will remain there throughout the transaction and then go towards your down payment. (In our region, this is usually a minimum of 1% of the entire amount.)

Home inspection

A process for determining if a property has any defects that can impact the health and safety of its inhabitants. It can cost anywhere from $300 to $500, depending on the home’s size.

Appraisal

A lender-ordered determination of a home’s value by an unbiased professional. It typically costs around $400.

STEP THREE

Closing Tips

Congratulations! The seller accepted your offer, and you’re a brand-new homeowner! Make sure to have these things in hand when you go to sign on the dotted line:

• Bring a cashier’s check to pay the rest of the down payment and closing costs. (You can also arrange to have the money wired.)
• Provide a photo ID, such as a driver’s license or passport.