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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: 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.

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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.

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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.

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Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? 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.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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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.

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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.

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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.

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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.

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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.

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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.

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. 

Success Stories

Testimonials

"Sheila is a great realtor. She returns your calls in a timely matter. Listens to your needs. Has a great personality and differently understands your needs and price range. I have recommend Sheila Myers to my friends"
"Sheila is a great realtor. She returns your calls in a timely matter. Listens to your needs. Has a great personality and differently understands your needs and price range. I have recommend Sheila Myers to my friends"
Buyer | Seller
"We chose Sheila because the average price for homes sold recently in the area was $50,000 or so above other high production realtors' average sales. Her estimate of the value of our home was spot on which was $50,000 more that of the other realtor we interviewed. After we met her we stopped interviewing realtors. She gave attention to detail actually pointing out a couple of positives that we had overlooked. She is personable, knowledgeable and gave us moral support throughout this stressful process and, further, helped us with a few problems even after the sale had closed. WOW. Most don't. Fred and Sheila Kinnard "
"We chose Sheila because the average price for homes sold recently in the area was $50,000 or so above other high production realtors' average sales. Her estimate of the value of our home was spot on which was $50,000 more that of the other realtor we interviewed. After we met her we stopped interviewing realtors. She gave attention to detail actually pointing out a couple of positives that we had overlooked. She is personable, knowledgeable and gave us moral support throughout this stressful process and, further, helped us with a few problems even after the sale had closed. WOW. Most don't. Fred and Sheila Kinnard "
Buyer | Seller
"Cannot say enough great things about Sheila- awesome realtor experience all round. She is so very knowledgable about the area around Franklin NC where we were looking to purchase a house. She saved us hours of pointless viewing by providing background information on the different houses we thought "looked good" from zillow or other websites. - she provided information on the area, access, and often the house itself if she knew of any history around it. Lots of patience with the lists I sent from Florida to her. We had several visits over 9 months to finally get to buy the house we loved, and Sheila negotiated professionally and promptly with offers and communications. Top notch experience all around."
"Cannot say enough great things about Sheila- awesome realtor experience all round. She is so very knowledgable about the area around Franklin NC where we were looking to purchase a house. She saved us hours of pointless viewing by providing background information on the different houses we thought "looked good" from zillow or other websites. - she provided information on the area, access, and often the house itself if she knew of any history around it. Lots of patience with the lists I sent from Florida to her. We had several visits over 9 months to finally get to buy the house we loved, and Sheila negotiated professionally and promptly with offers and communications. Top notch experience all around."
Buyer | Seller
"Shiela was personable, professional, and highly skilled in dealing with all facets of the transaction. Since I was an out-of-state seller, she was especially helpful in putting me in touch with local professionals to make necessary renovations on the home. She is also adept at handling the oddities which sometimes arise, and knows the market and local cast of characters very well. I felt very comfortable with her advocating for me throughout this listing and sale. I recommend Shiela highly."
"Shiela was personable, professional, and highly skilled in dealing with all facets of the transaction. Since I was an out-of-state seller, she was especially helpful in putting me in touch with local professionals to make necessary renovations on the home. She is also adept at handling the oddities which sometimes arise, and knows the market and local cast of characters very well. I felt very comfortable with her advocating for me throughout this listing and sale. I recommend Shiela highly."
Buyer | Seller
"Very professional, Thankfor all you did .We have used Shiela several times now and every experience has been great! She and her staff very helpful. Good communication. Will definitely use again."
"Very professional, Thankfor all you did .We have used Shiela several times now and every experience has been great! She and her staff very helpful. Good communication. Will definitely use again."
Buyer | Seller
"As a first time homebuyer, I had a lot of anxieties about the home buying process and feel that if I never came across Matt, I would have never even gotten started with the process. Matt was friendly, knowledgeable, and very helpful in helping me get this process started and sticking with me throughout keeping me updated with new listings that fit not only our budget, but also our style, while also keeping me confident and motivated in this process until we closed on our home. Matt is a fantastic agent, and if it weren't for him, we would be nowhere close to living in our perfect home."
"As a first time homebuyer, I had a lot of anxieties about the home buying process and feel that if I never came across Matt, I would have never even gotten started with the process. Matt was friendly, knowledgeable, and very helpful in helping me get this process started and sticking with me throughout keeping me updated with new listings that fit not only our budget, but also our style, while also keeping me confident and motivated in this process until we closed on our home. Matt is a fantastic agent, and if it weren't for him, we would be nowhere close to living in our perfect home."
Diana N.
"Sheila’s unparalleled knowledge of the area was so valuable in our home search! She was always available to answer questions or quickly arrange showings when houses became available. In addition, her knowledge and feedback about a property was always measured and logical, which helped us to make good choices. Above all, Sheila’s patience during our search, and expertise regarding the purchase process enabled us to find the perfect home. We highly recommend working with Sheila Myers."
"Sheila’s unparalleled knowledge of the area was so valuable in our home search! She was always available to answer questions or quickly arrange showings when houses became available. In addition, her knowledge and feedback about a property was always measured and logical, which helped us to make good choices. Above all, Sheila’s patience during our search, and expertise regarding the purchase process enabled us to find the perfect home. We highly recommend working with Sheila Myers."
Whitney K.
"Sheila and her staff lutely amazing! She is honest, prompt, caring, sensitive, always available, learned what houses we would like and not need to see, etc. After dealing with nearly 15 different realtors in the past 2 1/2 years while looking for our dream home in 4 different states, I can tell you that no one can compare with Sheila!"
"Sheila and her staff lutely amazing! She is honest, prompt, caring, sensitive, always available, learned what houses we would like and not need to see, etc. After dealing with nearly 15 different realtors in the past 2 1/2 years while looking for our dream home in 4 different states, I can tell you that no one can compare with Sheila!"
Konikay F.
"Summer of 2020 we decided to join in the flood of buyers looking for a 2nd home in the mountains to take advantage of low rates. The competition was fierce and stressful to get anything respectable and affordable. Being 7 hours away for any showing made it even more complicated. Matt became our right arm and source of local expertise that allowed us to finally purchase that perfect home. We went thru three failed offer processes with other properties till the final and right one come to fruition. Matt's communication and insights of the local Franklin market allowed us to build total confidence in his ability. In fact, I gained so much trust in Matt that he knew what we wanted/needed that we actually purchased this house sight unseen for myself (only my husband saw once), based on his positive input. Due to our busy schedule we did not see again till after close. Matt took care of all the inspection steps and the minor complications that arose needing in person attention. We now have our dream home in the mountains, better than ever imagined. You need to have a local expert when dealing with this exploding and rapidly changing real estate market, you can rely on Matt, as we did."
"Summer of 2020 we decided to join in the flood of buyers looking for a 2nd home in the mountains to take advantage of low rates. The competition was fierce and stressful to get anything respectable and affordable. Being 7 hours away for any showing made it even more complicated. Matt became our right arm and source of local expertise that allowed us to finally purchase that perfect home. We went thru three failed offer processes with other properties till the final and right one come to fruition. Matt's communication and insights of the local Franklin market allowed us to build total confidence in his ability. In fact, I gained so much trust in Matt that he knew what we wanted/needed that we actually purchased this house sight unseen for myself (only my husband saw once), based on his positive input. Due to our busy schedule we did not see again till after close. Matt took care of all the inspection steps and the minor complications that arose needing in person attention. We now have our dream home in the mountains, better than ever imagined. You need to have a local expert when dealing with this exploding and rapidly changing real estate market, you can rely on Matt, as we did."
Maryt C.
"Sheila is simply the best! Very professional, very knowledgeable patient and kind. Helped me through the entire process of finding the perfect spot to build my dream home. So grateful to have found her."
"Sheila is simply the best! Very professional, very knowledgeable patient and kind. Helped me through the entire process of finding the perfect spot to build my dream home. So grateful to have found her."
Buyer | Seller

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