Your Guide to Buying a Home-

Free First Time Buyer Book

Making the decision to invest in a new home can sometimes feel overwhelming and complicated.  In fact, with some education and proper guidance, the home buying process can really be one that is enjoyable and fun.  The stress of purchasing a new home or investment property often comes from not understanding the home buying process, or not having the proper information and good communication.  This guide can start you down the path of understanding and knowledge and can make the process of buying a home stree free.

Start with my guiding principle:  It's about you!
Your wants, needs, dreams, concerns, questions, finances, time and your life.

Eric Helmers- Realty Group

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Select a Real Estate Agent

Your first need is to find someone that can provide you with information and referrals you need to be successful.  A good agent will have referrals for quality people that can assist you in every aspect of the home buying process.

Select a Trusted Mortgage Professional​

Meet with a loan officer, preferably a reputable referral from your real estate agent, and get pre-approved for a loan.  Searching for properties on line, in news papers or with an real estate pro is simply a waste of your time if you are not aware of what the cost of buying a home is.   Knowing what you can afford and discussing what payment you would be comfortable with is crucial in the beginning phase.  A pre-approval is a very important part of the home buying process because it lets you and your Realtor know exactly what to base your search on and lets sellers know you come to the table ready to rock!

Analyze Your Wants and Needs in a Buyer Consultation   

Take time to meet with your agent and discuss your needs and wants and direct him or her as to special needs you or a family member may have, the area you would like to live and the life style you would like to have.  Meeting and getting a direct feel for one another can streamline the process and take some of the stress off you.

Set up a Property Search

Once you have an approval from your lender, your agent can set you up on a property search or can provide you the tools to set up your own search.  It is important to set up searches through your agent rather than some random online site.  Up to 40% of the information on Broker and 3rd. party websites like Zillow, Trulia and others are inaccurate and can be misleading.  The search your agent can set you on is information direct from the MLS and you can set up a secure search to send the properties that meet your needs direct to your email.

Get Out and View Homes

The most enjoyable part of the home buying process for most people is actually going into the homes.  Set up times with your agent to go out and view homes.  If you are not set on a specific area or style, your agent can set up previews in multiple areas and in different design styles at first.  Then, once you have an idea where you want to live and what style you like, you can look at several homes and one time and at your convenience.  Driving around randomly or going through open houses can be a big waste of your time and you could tip your financial hand to a sellers agent without even knowing.  Only 5% of buyers purchase a home they viewed during an open house and the home buying process can get to be overwhelming if you dedicate all your time and energy into viewing homes randomly by just driving around.

Write an Offer to Purchase

Once you have found the right home, you and your Realtor should write an offer.  Be active and ready once that ideal home is found!  Sitting back and thinking about it too long could cause you to miss a golden opportunity.  This is really important for First Time Buyers.  Too many times First Time Buyers are too afraid or unprepared to make a decision and many times over think their options or they allow friends or relatives to dismay them because the property may not meet their expectations or likes.  Later, you the buyer regret the missed opportunity and the home buying process becomes a challenge because you keep looking for a home that feels like the one you missed.  A really good agent will not be willing to let you buy a property they think is a mistake for your needs and will be proactive in trying to protect you.

Negotiate Terms

Nearly everything in the purchase of a home is negotiable.  Closing date, earnest money, down payment, inspection period, amenities, etc.  You and your agent should discuss a plan of action related to negotiations so that your agent can negotiate for the items that are most important to you.  Try to leave the sellers personal property out of the negotiations, as you could offend them and make the negotiations much harder for all involved.  Sellers can get upset when asked for too much and most personal property cannot be included on a purchase agreement when a lender reviews it in making the determination whether to fund the loan.

Accept Terms and Set up Related Appointments

Once terms are accepted, you may need to set up home inspections, interior hazard testing if you are relocating or have worries about issues related to Radon, Mold, etc.  If you are funding your loan through FHA or a VA loan, a specific appraisal with it's own inspection criteria is conducted as well.  Your agent should have the information your need to make informed decisions related to testing based on the homes location, age, condition and sellers property disclosures.

Resolve All Issues and Remove Contingencies 

This is where you can negotiate price or terms if items are found to hinder the sale of the property.  Items could be issues found during the inspection, issues found during an appraisal, price issue pertaining to the appraisal, etc.  Once you have these issues resolved, then you can remove all contingencies and move forward.  Most issues that come up are minor and have little effect on your purchase.

Continue the Financing Process   

Work with your lender to ensure a smooth process and transition.  Your agent will be active, but know most of your time will be spent working with your lender to make sure they have all the documentation and information they need to help you be successful in your home buying process.  Be proactive!  The most common issue buyers face are due to excessive use of credit prior to closing and not be diligent in providing items like tax returns, marriage certificates, divorce decrees, etc to their lender and thus delaying or cancelling their closing.

Obtain Title Insurance

See for definition and explanation of title insurance.  There are many title insurance company's and your agent should have at least one they have a working relationship with.  This can be important in ensuring a smooth process and hopefully preventing any possible surprises.

Arrange Movers and Transfer Utilities   

Start packing and making arrangements with movers or family and friends.  Set up transfer dates with the utility companies and other services that service your new home to occur the same day as closing to avoid shut off and extra fees.  You agent can provide you the information well in advance of closing.

Close the Property Sale

A closing is where the buyer and seller meet and sign documents related to funding and property transfer.  You could expect your lender, your Realtor the sellers and their realtor and title personnel for both sides to attend and take part.  If you have selected solid referrals from your agent or others and both parties are pro active, this process can be relatively smooth and quick. 

Receive the Keys and Take Possession of Your New Home!

Celebrate your new home purchase and start the process of making it your own.  Best Tip- Start with having the  locks re-keyed or replaced!  It will make you feel secure and will start the mental process of making the home your own!