• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Discover Contra Costa

Discover Contra Costa

with Noelle Cummings, REALTOR®/REALTIST®

  • Home
  • Buyers
    • Advanced Search
    • New Construction Home Search
    • Guidebook for Buyers
    • User Signup
    • User Login
  • Sellers
    • Home Valuation
    • Guidebook for Sellers
  • Communities
  • The Key to Your Home Blog
    • Buyer Tips
    • Seller Tips
    • Homeowner Tips
    • Market Updates
    • Real Estate News
  • Contact Noelle

FIRST TIME BUYER SERIES: How to Become a Homeowner in 8 Easy Steps

09/29/2020 by Noelle Cummings

An Overview of the Steps to Become a Homeowner

With all the changes in the world, becoming a homeowner may seem more confusing than ever.  That’s why working with a professional Realtor® is so essential. To reduce the stress of such a huge life decision below is an overview of the process.

#1 Meet with a Realtor®

*Buyers Advantage: it’s customary for real estate agents’ commissions to be paid by the home seller. So, working with a Realtor® often costs you nothing!

First, you’ll need to decide on the Realtor® you’d like to work with. Then, you’ll discuss with them the type of home you’re looking for in great detail.  Your Realtor® should get deep into your needs and wants, so they fully understand what you’re looking for in your dream home.

A significant part of a Realtors® job is to share their knowledge of the local real estate market with you and to be available to you to answer questions. In addition, they are there to advise you so that you can feel as in control and confident as possible during the process of becoming a homeowner.

#2 Get Pre-Approved

When you’re serious about making an offer on a home, you need to be pre-approved. However, there is a difference between pre-approval and pre-qualification.  For pre-approval, you’ll need pay stubs, W2’s, and bank statements.  Knowing what you can afford is essential to a positive home shopping, and eventually, homeowner experience.

Most Realtors® have business relationships with local lenders. Therefore, your Realtor® can provide recommendations or match you with the best lender for your situation. Working with someone that has these connections will help you avoid wasting valuable time and energy.

#3 Search for Homes

Now that you know the type of home you need and how much you can afford, here comes the fun part! Before the pandemic virtual home viewing was just taking hold.  Now, it’s the only way to view homes that you might otherwise have casually visited on Open House Sundays.

Your Realtor® has access to tools and systems to ensure you receive regular and timely notification of properties that match your preferences and budget.  When you find a home you’re interested in, your Realtor® will schedule a time to perform a live virtual tour, inside and out.  If you think the home is worth seeing in person, your Realtor® can schedule a physical showing.  While some of these processes are due to pandemic-related restrictions, overall, it saves you time, energy, and gas money!

#4 Make an Offer

When you’ve decided to make an offer on a home, your Realtor® will contact the seller or their agent to make sure everyone is on the same page. They will also share important local data with you so that you can make a fully informed decision about what you’d like to offer the home seller.

#5 Contract and Negotiations

It may take a few tries to get it right but hang in there. You’re on your way, and your Realtor® is there to support you.  They will use their negotiation skills and training to make sure you get the best possible deal as you become a homeowner.

#6 In Escrow

Once you and the seller agree to the terms, your offer is officially accepted, and escrow is opened, usually with a Title Company.  During the escrow period, you can and should have a licensed inspector check the home’s condition so that you are aware of any potential issues. 

Your Realtor® can refer you to reputable, licensed inspectors who will review the home inside and out, top and bottom. Then, if you need to negotiate for repairs, they will work to get you the best deal. Your Realtor® is also responsible for closely monitoring the escrow process to ensure all requirements are met, and all contract terms are completed on time.

#7 Final Details

After performing your due diligence by having the home inspected and appraised, you and your Realtor® will review the final terms with your lender.  You are just one step away from sealing the deal!

#8 Closing

Closing is the transfer of funds and ownership facilitated by the Title Company.  At this point, you and the seller will sign closing statements.  Shortly after that, you will need to transfer any utilities into your name and collect the keys to your new home!

Congratulations – you’re a new Homeowner!

The Bottom Line

Sometimes, there’s some additional work that goes into creating our dream home.  If you need references for trusted and experienced vendors to help you improve and decorate your new home, your Realtor® can provide them.  Hopefully, your Realtor® will remain in contact with you for years to come.  The best Realtors® are the ones who you would be willing to recommend to your family and friends, as you know they’ll be in good hands.

  • Share on Twitter Share on Twitter
  • Share on Facebook Share on Facebook
  • Share on Pinterest Share on Pinterest
  • Share on LinkedIn Share on LinkedIn
  • Share via Email Share via Email

Filed Under: Buyer Tips

About Noelle Cummings

Raised in Walnut Creek, Noelle Cummings understands and appreciates the many unique benefits of living in the Bay Area - with its unmatched beauty, culture, shopping, and marvelous restaurants!

Primary Sidebar

Call Now:

925-768-3617

Connect with Me:

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox, every month.

I don’t spam! Read my privacy policy for more info.

Please check your inbox or spam folder to confirm your subscription. Thanks!

Categories

  • Buyer Tips
  • Homeowner Tips
  • Market Updates
  • Real Estate News
  • Seller Tips

Footer

Noelle Cummings
Realtor®/Realtist® | Cal DRE #01333246
Cell: 925-768-3617

Connect with me:

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • YouTube

Contact Me:

Thank you for reaching out! I will be in touch just as soon as possible. If you'd like to reach me right away, feel free to call or text me at 925-768-3617. I look forward to talking to you soon!

Copyright © 2022 · Agent Focused Pro by Winning Agent · Log in

Realty ONE Group | Elite

200 Pringle Avenue, Suite 100 | Walnut Creek, CA 94596

925-978-1100

CA DRE# 01931601

 

Privacy Policy