Buyer’s Guide

Step 1. Get pre-approved by a lender. Your lender helps determine how much you can afford. Don’t waste time or become frustrated by looking at homes that are out of your price range.  Be realistic to avoid disappointment!  If you submit a pre-approval with your offer on a home, the seller will take you much more seriously.

Start your pre-approval process here: HomeBridge Financial Services

Step 2. Use a Realtor to help negotiate and coordinate your purchase. Even better, hire a local, experienced agent with access to the area’s Multiple Listing Service for faster and more comprehensive notification of properties for sale. You’ll need step by step guidance for home searching and viewing, negotiating offers, and working cohesively with the real estate team to successfully close the deal. Since the seller pays both the listing and buyer’s agent commission, there’s no cost to you for using this service!

Step 3. Get your down payment. Most offers to buy include a down payment that the lender will require. 

Good news for existing homeowners is you can use the proceeds from the sale of your home to roll into the new property for your down payment. Tip: Sellers looking at offers want to see your home, at minimum, under contract with a projected closing date. Sold and closed is even better.

If you’re a first time buyer, sock money away into savings, look to family members to help with the purchase and sell off stuff that you no longer need. We’ll help you determine the best down payment option for your needs.

Step 4.  Be available to look at properties. This includes viewing online notifications of new listings that your agent sends you. Sort out the ones you like best and ask your agent to schedule a showing appointment. Nice properties sell fast so be prepared to tour new listings as soon as possible!

Your Turnbloom agent will work closely with you to help identify your needs, explain the buying process, strategize to get your offer accepted, and coordinate team efforts to close the deal.

I’m not sure what kind of home I want? What do I do?

Put together a list of real estate wants and needs and prioritize the list for more efficient home search parameters. After touring homes for sale and discussing options with your agent, you’ll be able to further edit the list to help identify the home in your price range that you’ll be happy in for many years. Tip: Don’t look at homes you can’t afford. It’s disappointing and only confuses the process.

What about fixers?

Fixer houses can be a quick profit money maker or allow you to purchase in a more expensive neighborhood at a discounted price. By purchasing a fixer at a good value as a primary home, and completing repairs and/or updating, you may benefit by selling after two years at a higher price and pay no federal taxes on real estate profits earned (up to $500,000, $250,000 for singles.)

Money earned can be used to purchase another fixer or your dream home!

What if I sell my current house and can’t find a new one?

Whoa! Good news is that it rarely happens. Just in case, using a smart agent will protect you!

Few sellers will consider an offer unless your existing house has an accepted offer. Sold and closed is even better. Remember, sellers in a “Seller’s Market” (too many buyers, not enough homes to buy) can afford to be fussy when it comes to offers.

Here’s what we do to give you more time to make the transition. When you accept an offer on your existing home, we ask for a longer pending sale period (45-60 days) plus a 30 or 45-day rent back after the closing date. This gives more time to locate a new home, get an offer accepted, and close. No costly double move!

 Your Turnbloom agent is excited to find your new home and earn your business!