The Road To HomeOwnership Starts Here

FirstHomeBuyers Realtor Network

Couple Buying Home

First time home buyers should contact a real estate agent before conducting their home search. A buyer real estate agent represents you and they will gather property listings for homes that are appropriate for your personal needs and budget. A Realtor will help you negotiate every part of the contract, striving to get you the best possible deal. For example, many first time home buyer programs allow the seller to pay some or all of the closing costs and a good Realtor will try to convince the seller to help with the closing costs. Bottom line, you will not need to pay a buyer real estate agent up-front because they will get paid from the seller only if they find you a home and close the deal. So, it does not cost you anything to use a realtor who specializes in first homebuyers and I believe they will greatly increase your chance of finding a home that will meet your needs.

There are a lot of land mines to side-step when purchasing your first home and has built a network of Realtors who can save you from frustration and headaches by making the home buying process a more fun and less worrisome experience. Fill out the Realtor Finder Form and a first time buyer Realtor specialist will contact you shortly to assist you in your home search.

Don't start looking and checking out homes on your own unless you can answer these types of questions:

  1. What is earnest money?
  2. How much should you offer the seller?
  3. What should you do if the seller turns down your offer? If the seller accepts your offer then am I getting a good deal on the home?
  4. How much of a closing cost credit should you request from the seller?
  5. Will the home appraise for the asking sales price and what will you do if the home appraises lower than the sales price?
  6. How is the neighborhood and school district? Are there known hazards in the area like a Nuclear power plant or high power utility lines?
  7. What does a home inspection cover and who will you use to do the inspection?
  8. What are you going to do if the home requires repairs and who will pay for them?
  9. Who is going to write up the purchase offer if you are interested in a home?
  10. If you are purchasing a rural home, then you will need to know if the septic tank works property if applicable and the water contamination level if there is a well? Are there any other issues with a rural property that you may encounter which could stall or prevent the deal from happening?

If you can't answer these questions then it is best interest to get a real estate agent.

Property Verification Report-We go above and beyond the call of the duty for our customers by performing a property verifcation which we attempt to verify the value of the home prior to ordering an appraisal on the property. Also, we contact the Realtor to find out if there are any potential issues regarding the condition and value of the home as well any repairs which may need to be completed prior to closing. It is very important to address property issues before you spend several hundred dollars on an appraisal and then find out there are problems halfway through the loan process which can be a nightmare for everybody involved in the transaction.

First, you should complete a wants versus needs checklist to determine which home features are most important to you. Next, you can print out several house hunting worksheets or download House Hunter App for IPhone or IPad to evaluate every home so you can make the best decision possible. Remember, this is your first home and it probably won't be your last one, so it may not be perfect and it may need some repairs or minor improvements but with some imagination and tender loving care, you can make it a great place to call your home.

Finally, I strongly suggest that you get pre-approved before you start looking at homes. You need to know how much home that you can afford and qualify for and a loan pre-approval letter will tell sellers that you are a serious buyer. Please contact us at 847-516-5743 if you have any questions about where to start the process.

Equal Housing Lender

(847) 516-5743


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