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A Step-by-Step 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 buyer’s guide 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? Primary residence or investment property? Which features do you like and dislike? Which features are your “must haves” and which are “deal breakers”? I can help you define your search criteria will provide you with 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 I said to decide on your budget—not determine how much the mortgage company will give you. Determine the monthly payment you feel comfortable with before talking to a lender. This likely requires 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. It is easy to overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

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Step 3: Get A Pre-Approval Letter

Getting a pre-qualification is often the first thing you do when you’re ready to secure home financing. Filling out the pre-qualification form should take just a few minutes. Most lenders have them readily available online. The catch with the pre-qualification is
that your information is not checked or vetted.

A pre-approval is a step up from a pre-qualification. A pre-qualification is more of an estimate, while a pre-approval is more of a true conditional loan approval issued after your income and assets have been fully underwritten. Sellers are always looking to select the strongest offer possible and a pre-approval will give you the upper hand in a competitive situation.

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Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders?

Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process negotiating on your behalf, but I will also share knowledge of the market including off-market possibilities, and give you pointers that will help you find your dream home for the right price.

My 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: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). Before we head out to view properties we will meet to discuss your wants and needs, your “must haves” and the strength of some of your preferences. With that knowledge I will arrange showings of homes you’re interested in that are within your price range and make note of your impressions on the homes we see. 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: Present and Negotiate Your Offer

Once you have selected the perfect property I’ll sit down with you and craft an offer that represents your best-case purchase scenario. I will negotiate on your behalf and should you receive a counteroffer from the seller, I’ll work towards a “win-win” solution to reach an acceptable agreement. Once we have a fully accepted and signed contract, we enter the next stage: the escrow period.

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Step 7: Have the Home Inspected

Once escrow is opened it is time for your due diligence on the property, time to have all the inspections you need to be comfortable moving forward with the purchase. As part of my “contract to close” process, I’ll provide you with a process and timeline map and will make certain that you fully meet your deadlines within the prescribed contract time
periods.

If an inspection uncovers an area of concern (major structural damage or large repairs needed) this becomes an additional area of negotiation with the seller. I’ll use my certified negotiation expertise to ensure that your best interests are satisfied before all contingencies are released and you close on the property.

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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 loan.
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.

The transaction is complete but because I see my role in this as “relational” as opposed to “transactional” you can count on me to be available to you long after the transaction is closed. I am always here for you to answer any questions about this house or any you may consider in the future for yourself or for your family. That is part of what it means to be your “forever agent”.

Now celebrate. You deserve it!

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.

Donald
Buyer & Seller
Terrence R.
Testimonials

My family and I vacation in Laguna Beach every year and over the years we have stayed at many locations. This year we stayed at Catalina view and we now hope to stay there every year. The views are extraordinary as is the lovely breeze that blows through the double set of doors leading to the large deck and the sunsets are stunning. While it can be difficult to feel comfortable in a rental house my famil...

— Donald

Testimonials

Kathy Klingaman recently guided me through both a successful purchase and a successful sale. I was continually impressed by her commitment to my priorities, goals, and needs as well as by keeping me well-informed on the ins and outs of the real estate market and practices. My financial goals were met and they always went above and beyond to ease the inevitably stressful moments. After meeting many agents...

— Buyer & Seller

Testimonials

I would recommend Kathy to anyone interested in buying or selling their home. Selling your home can be extremely stressful, but she made this much less stressful than we could imagine. She was able to help us sift through multiple offers and find which one was the best for us. She was able to obtain us approximately 7% above our asking price. She was very friendly, and professional, and made the whole ex...

— Terrence R.

Work With Kathy

Prior to entering real estate, she worked as an award winning graphic designer and is happy to bring her creativity and deep knowledge of marketing to her real estate business. It is that out-of-the-box thinking that gets buyer’s offers accepted in a competitive situation, and it is marketing that attracts more buyers, brings more offers and potentially drives up the price of a home! Contact Kathy today to discuss all your real estate needs!