Step 1
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 your agent will help reduce the stress of buying a home and help you enjoy the journey as much as possible.
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.
Notice I 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.
Step 1
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.
Step 2
Notice I 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.
Step 3
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.
Step 4
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, but I also have a knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.
STEP 5
This should be the most enjoyable step of the entire process (other than moving in!). I 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.
STEP 6
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. I 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.
STEP 7
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. I 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.
STEP 8
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.
STEP 9
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.
STEP 10
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.
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.
Cory was fantastic! Cory went above and beyond. She was amazing!
My family has had the pleasure of working with Cory on the sale and purchase of 3 different homes. Each time she has been professional, timely, and very helpful. We have watched her deal with difficult buyers and sellers on the...
Cory was absolutely awesome in everything! She is a gem. I absolutely recommend her!
I interviewed four different agents, and Cory was by far the most prepared and knowledgeable. Her marketing plan and communication were excellent! We are very pleased with how she handled the sale of our home.
Cory provided thorough market research, patient viewing, and research of any house we found. She was also considerate of our needs and most importantly not in a hurry to sell us just any house. Because of her knowledge and asso...
Cory is easy to work with, thorough, hard-working, timely, and very pleasant to work with. She's a real estate saint in my book.
Cory came very highly recommended, but I was very pleasantly surprised that she was even better than a mutual friend had said. Cory is the epitome of a real estate professional. I couldn't have asked for any more. Truly she is ...
Cory took a listing that had been lingering on the market for months and got a quick sale out of it. If that doesn't speak to her skills as a marketer and agent, I don't know what does. We saw a night-and-day change in the way ...
I was referred to Cory Bakke by family and my expectations were blown away. Cory was so efficient in helping me understand buying my first home. Cory has extensive knowledge of the San Antonio area and guided me in choosing a g...
Cory Bakke is amazing. She's got a tremendous amount of experience in home sales, purchases, and negotiations. She worked relentlessly to get us the best value for our home purchase!
Our entire buying and closing process went smoothly thanks to Cory and her attention to detail. She cared about every part of the process and ensured we were buying a house that we would love. Her knowledge of the San Antonio a...
I enthusiastically recommend Cory to anyone seeking a real estate agent. She is thorough, highly organized, and extremely dedicated. I always felt she was on my side. She was quick to respond to questions via text, phone, or em...
Cory Bakke is the ultimate professional. She is willing to go the extra mile to ensure a good deal for all. She is detail-oriented and creative and actually worked some miracles. Cory will always be my realtor.
Best realtor ever, I couldn't be happier, she patiently worked with us and found us the perfect house.
Cory is truly an exceptional realtor and has a passion for what she does. Cory navigated us through some very difficult negotiations on a particular house we were interested in, which didn't come to fruition (which turned out t...
The level of professionalism and experience our listing agent brought to the table was evident throughout the entire process, from make-ready to close. I do believe the quality of our offer and eventually signed contract would ...
Cory is at the very top of the list of realtors! Absolute highest recommendation!
The process was exceptionally great.
Excellent service and exceptional dedication to helping us find our dream home - thanks to Cory.
Highly recommend Cory! She kept us informed, made recommendations, and was very professional. I plan on recommending Cory to anybody needing a realtor. Great job Cory!
