The Buyer's Roadmap

1

Get preapproved

The three C's of mortgage approval

Credit — minimum score of 580 required
Collateral — down payment funds, 3% down minimum
Character — 2 years of income history. Lenders typically look to see you make twice the monthly payment amount.

Getting preapproved before you start touring homes, unless you are paying cash, matters for two reasons. First, when you find a home you love, you'll be ready to move on it, with no risk of another buyer beating you to the offer. Second, you'll know your real monthly payment.

Every borrower is different, and there are a lot of great programs out there. The lenders I work with will walk you through different scenarios so we can find what best aligns with your goals.

2

Home search

What drives a home sale

PriceLocationCondition

A helpful rule of thumb: if a home checks 2 of these 3 boxes, it's a good home. If it checks all 3, you need to move on it fast. Typically, if you love the price and the location, the condition may need some love. If you love the location and condition, the price is probably higher. If you love the condition and price, the location may not be ideal.

It is completely normal if what you thought you wanted isn't what you actually need. If your criteria changes while we're touring homes, I will not be upset!

I also love thinking through lifestyle, not just checkboxes: Do you want to be near trails? City living? As much privacy as possible? Is school district a priority? Are you more focused on lifestyle appeal, or the investment potential?

3

Make an offer

What we'll consider

Days on market
Competition from other offers
Strategy for highest and best offer
Closing cost negotiations

I'll help educate you along the way. Every scenario and every house is different, so our strategy will be case by case, and that's exactly what I'm here for.

After we submit our offer, with the terms of the closing date, the contingencies we'll have in place to protect your earnest money so you receive it back at closing, the purchase price, and other terms, one of three things will happen: we'll get our offer accepted, we'll receive a counteroffer from the seller with different terms, or our offer will be declined. Once we reach mutual acceptance with the seller, we're under contract! This is also known as being pending.

4

Costs to expect

Earnest money deposit

About 1% of sales price (example: $4,500 on a $450,000 home)
Applied toward your down payment at closing
Shows good faith to the seller

Financing closing costs

Typically 3% of the purchase price

90% of the time I negotiate for the seller to pay your closing costs. On the chance the sellers don't, we'll create a strategy to help keep this money in your pocket. This is where my negotiation skills also come into play.

Home inspections

General home inspection — $400
Sewer inspection — $150, and I have a connection who will do it for free

Key areas checked: roof condition, sewer system, electrical systems, foundation, and HVAC system.

Appraisal

Typical cost — $600 to $800
The property must appraise for at least the loan amount

The appraisal is typically required by your lender to make sure they are lending you money for a home that is worth that amount. If the appraisal comes back lower than what we're under contract for, we will need to negotiate with the seller. If it comes back higher than what we're under contract for, that is instant equity for you!

5

Final walkthrough

We verify that all agreed-upon repairs and conditions have been met before closing.

6

Closing day

Sign the documents
Receive your keys
Take celebration photos

Your advocate, start to finish

The path to your new home