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Buyer's Guide

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

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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Step 1: Deciding To Buy

Why Do You Want To Buy?

Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.

Has Your Income Grown?

Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.

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Step 2: Preparing To Buy

Before you start shopping for your property, it is a good idea to make some preparations.

Build Your Green File

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

  • Financial statements
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • Copies of leases for investment properties
  • 401K statements, life insurance, stocks, bonds, and mutual account information.
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Step 3: Choose A Real Estate Agent

Here are some factors to consider when choosing your real estate professional:

  • Look for a full-time agent – one who has experience completing transactions similar to yours.
  • Interview a few agents: Are they familiar with the area in which you are interested?
  • Ask how much time the agent will have for you, and if they are available at night and on weekends.
  • Ask about their credentials and education: A good agent will continually strive to improve and gain knowledge of the latest real estate trends and hold the highest designations in their respective fields of expertise.
  • Does the agent return your calls promptly? Time is money when attempting to buy a property.
  • Ask for a list of properties they have sold or a list of references.
  • Choose an agent who listens attentively to your needs and concerns. Pick an agent, with whom you feel comfortable.
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Step 4: Time To Go Shopping

Once those preparations are out of the way, it is time to find the right property for you.

Take a Drive

Get to know the neighborhoods, complexes, or subdivisions, which interest you. Drive around and get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas.

Narrow Your Search

Select a few properties that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long term resale value of the properties you are considering.

Time to Buy

Once you have picked out the property you want to purchase, your real estate agent can help you make an offer that the seller will accept. A good agent will investigate the potential costs and expenses associated with the new property. An agent can also help you draft your offer in a way that gives you the advantage over another offer.

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 5: Escrow Inspections And Appraisals

The Process, Step-by-Step

  • The Initial Agreement and Deposit.

  • The Closing Agent.

  • How to Hold Title.

  • Inspections.

  • Appraisal and Lending.

  • Association Approval.

  • Property Insurance.

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Step 6: Moving In

Closing Day

If you have come this far, then this means that it is almost time for a congratulations, but not yet. Do not forget to tie up these loose ends:

Final Walk-Through Inspection.

More of a formality than anything else, the final inspection takes place a day before, or the day of the closing. You will visit the property to verify that all is in working order, everything is the same as when you last viewed the property, that there are no extra items left behind, and that everything included in your purchase is still at the property.

Home Services and Utilities.

We will provide a list of useful numbers for the activation of home services and utilities after the closing occurs.

Be Prepared.

We are ready to assist you should an unforeseen glitch pop up, even at this last stage. Something at the property breaks down, or some other minor detail – no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a stress-free manor.

Congratulations!

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.

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Sadie Noah Real Estate Group is a dynamic team of professionals dedicated to delivering exceptional service and results. With their expertise and passion, they guide clients through the real estate journey with care, ensuring their dreams become reality.

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Contact Details

SADIE NOAH REAL ESTATE GROUP

(208) 634-1633

[email protected]



302 E Lake Street

McCall, ID 83638