Buying a home should be 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 homebuyer’s guide created by our team will reduce the stress of buying a home and help you enjoy the journey.
At Sotheby’s International Realty, our team has an in-depth understanding of the intricacies involved in purchasing a home, offering services tailored to your preferences. In our advisory relationships, our objective remains crystal clear: to leverage our extensive resources and decades of experience to provide you with the knowledge and confidence necessary to seamlessly navigate your next home purchase.
Here’s our pledge to you: We take time to understand your goals, timeline, and property, developing a personalized strategy that meets your needs. With full transparency, clear communication, and professional insight, we ensure you can make informed decisions every step of the way. We manage every aspect of your sale—from pricing and preparation to marketing, showings, negotiations, and closing—while upholding the highest standards of professionalism and ethics, because earning your trust is our top priority.
Decide which communities, home features, and property types you and your family prefer. Have candid conversations about which of these characteristics are required, and which are “nice to have” in your next home.
Examine your current expenses and determine how they might change if you purchase a home. Create a comprehensive household budget so you can factor in any new ongoing expenses that might come with a home purchase, such as garbage and recycling, water, or homeowner’s association fees.
This is our chance to get to know you and your goals. We’ll talk through your priorities, timeline, and any specific needs or preferences you have in a home. By understanding what matters most to you, we can tailor our approach and set a clear path toward finding the right property.
Pre-approval is an important step in understanding your purchasing power, but it’s also about finding the right fit for your comfort level and financial situation. Sometimes a lender may approve you for more than you want to spend, while other times they may set limits based on factors like job history, credit, or past financial challenges. That’s why the budget you created earlier is so valuable—it helps balance what the bank says you can afford with what feels right for you. Pre-approval also gives you a chance to connect with potential lenders, compare options, and be seen as a stronger buyer when competing for a home.
Your agent will arrange showings of properties that meet your specific criteria and price range, taking note of your likes and dislikes to further refine their search parameters. They’ll help you explore the details — from storage to light switches to the flow of a home — and understand the pros and cons of the options in front of you. They’ll also help you make time to explore the neighborhood and examine elements like local traffic at different times of the day, parking options, and proximity to neighborhood amenities like schools and grocery stores.
Once you’ve found the right home, we’ll work together to craft and submit a strong offer. This includes reviewing comparable sales, discussing terms beyond just price, and tailoring our strategy to the current market. I’ll guide you through each detail so you feel confident in the offer you’re making. After submission, we’ll be ready to respond quickly—whether that means negotiating terms, adjusting the offer, or moving forward if it’s accepted. The goal is to put you in the best position to secure the home while protecting your interests every step of the way.
After your offer is accepted, the home inspection gives you a detailed look at the property’s condition. We’ll schedule a professional inspector to evaluate the home and identify any potential issues, from major repairs to minor maintenance items. This step helps you make informed decisions and gives you an opportunity to request repairs or adjustments before closing. I’ll walk you through the inspection report, explain what’s most important, and guide you on the best way to address any concerns so you can move forward with confidence.
Before closing, it’s important to secure homeowners insurance to protect your new property and belongings. This step gives you peace of mind by ensuring you’re covered in case of unexpected events, from storms to accidents. We’ll help you review your options, compare providers, and select a policy that fits both your needs and budget. Homeowners insurance is also a requirement for your lender, so having it in place ensures a smooth path to closing. I’ll guide you through the process, answer any questions, and help you feel confident that your new home is properly protected.
Once you’re under contract, your lender will order an appraisal to confirm the home’s value. This independent assessment ensures the property is worth the amount you’ve agreed to pay and provides the lender with confidence in financing your loan. I’ll coordinate with the appraiser, keep you updated on timing, and walk you through the results once the report is complete. If the appraisal comes in lower than expected, we’ll discuss strategies to move forward—whether that means negotiating with the seller or working with your lender on solutions.
As we move further into the process, your lender will finalize your mortgage financing and issue a formal commitment letter. This document confirms that your loan has been fully approved and outlines the terms of your financing, including the interest rate, loan type, and repayment details. At this stage, you may also choose to lock in your interest rate, giving you certainty as you move toward closing. Your lender will likely request updated documents such as pay stubs, bank statements, or tax returns to complete the file. I’ll stay in close contact with your lender to help ensure everything is submitted on time, keeping the process smooth and giving you confidence that we’re on track for a successful closing.
Before closing, we’ll schedule a final walkthrough of the property to confirm it’s in the condition agreed upon in your contract. This is your opportunity to verify that any negotiated repairs have been completed, appliances and systems are functioning properly, and the home is clean and ready for move-in. It’s also a chance to check that nothing has been removed that should remain with the property, such as fixtures or appliances. I’ll walk through with you to ensure everything matches our expectations and address any concerns right away, so you can feel fully confident heading into closing.
Settlement, also known as closing, is the final step in the buying process. At this appointment, you’ll review and sign all of the legal and financial documents needed to complete your purchase. Your lender will provide the funds, the deed will be transferred into your name, and you’ll receive the keys to your new home. I’ll be by your side to guide you through the paperwork, answer any last-minute questions, and ensure everything goes smoothly so you can celebrate becoming a homeowner.
Congratulations—you’ve made it! With settlement complete, the keys are officially yours and it’s time to start this exciting new chapter. Whether you’re unpacking boxes, decorating rooms, or simply enjoying that first moment in your new space, this is the day we’ve been working toward together. Welcome home!
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Read Our Success StoriesThe sale of a significant home is truly noteworthy. To represent a home of distinction requires highly-qualified real estate professionals with global reach and local expertise. Contact us today to start your journey with our team of trusted professionals.
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