For Buyers
When we say that our agents are out to make clients for life, we mean it. Neighbors agents go above and beyond — not just to help you find a house, but to make sure it’s the right house for you and your needs.
Whether it’s your first time buying a home, or your third, it’s still a big deal.
As your trusted advisor, your Neighbors agent will be there for you every step of the way. This frees you to focus on the one thing that nobody but you can do — pick the house that feels right. We’re here to do everything else.
The Buyer’s Roadmap
understand the process,
step by step
1. Find an Agent
We’ve got a handy guide below to make sure you find someone who is going to take great care of you.
2. Get pre-approved
Once you find an agent you trust, ask them for recommendations. Lenders can make or break a real estate transaction and, because of that, how likely your offer is to be accepted.
3. The fun part—looking at houses!
Your Neighbors agent will help you find the perfect home, but nobody knows your tastes better than you— so don’t be afraid to send your agent homes you’re curious about or simply want feedback on.
4. Write your offer
Your agent will help you find the right offer price based on your buying power, the house, the level of competition, and available comparable sale data. They’ll also advise you on additional terms that will help you stand out. Your job is simple- soak in the house and decide if it’s right for you.
5. Inspections and repairs
Your agent will help you setup inspections (examples: whole home, radon, sewer scope, and buried tank scan) as well as identify and negotiate repairs, credits, or price reductions based on the findings.
6. Appraisal
If you’re financing your home, the lender will most likely require a physical inspection of the home and an assessment of value by a state licensed appraiser. Beyond confirming value, appraisers can also call out health and safety concerns. Talk to your agent about appraisals, their potential issues, and how you can get ahead of them.
7. Signing
Once repairs have been negotiated, the appraisal has been completed, and your lender has issued final approval of your loan- they’ll send loan documents to escrow (the neutral third party in the transaction) and you’ll sign with the escrow officer.
8. Funding and recording
While signing is a symbolic step, it doesn’t actually mean you own the house yet. After your lender funds the loan and escrow records the deed with the county, you’re officially a homeowner!
FAQ
How do I know if I’m ready to buy a house?
The first step to buying a house is getting preapproved (if you plan to finance your purchase). Your lender will likely want to schedule an initial consultation that will answer many questions you may have about the price range, what you should have saved for a down payment and closing costs, and what your monthly payment would look like. Finding a good lender is critical to a smooth home purchase, and our Neighbors agents know some great ones that we're happy to share!
How long does it take to buy a house?
This is a tough one, as it depends on a combination of factors: your financing, the type of home you’re buying, any repairs that might be done in a transaction, etc. That said, from a standard offer acceptance to close is typically 30 days.
Why work with a real estate agent?
In the era of apps like Redfin and Zillow, it’s reasonable to wonder why you need a buyer’s agent at all. It is our job to help you find the right house, not just any house. We see our role as that of a trusted advisor; from evaluating a home on the first walk-through, to writing a compelling offer that stands out from the rest, navigating inspections, repair negotiations, appraisal, and finally getting to close. We act as your primary point of contact, your advocate, and your project manager to get you into your dream home as smoothly as possible.
“How much house” can I afford?
There are some basic calculators online, but the very best source of this information is going to come from your lender during the preapproval process.
How much Money do I need for a down payment?
It depends! There are conventional loan programs for as little as 3% down, and some lenders even have 100% financing. Most conventional mortgages will require private mortgage insurance (PMI) for any mortgage with less than 20% down. Generally speaking, the lower your down payment, the more expensive your loan will be as it can impact your interest rate, mortgage insurance, and lender fees.
Fixer-uppers: How much is too much Work to take on myself?
Fixer-uppers can be compelling, but the end of the day, if you’re going to sink more into a property than you’d ever get back, it’s better to just keep looking! We’ll evaluate the price, potential, and factor in expenses vs. opportunity. We can also help you understand what you’re signing up for when you elect to remodel a home.
Am I obligated to buy the house after my offer is accepted?
Yes and no. You shouldn’t be writing an offer unless you are financially and emotionally prepared to buy. However, we know that sometimes things happen. There are certain contingencies that allow you to terminate while protecting your earnest money. If you must pull out (and are past all of these contingencies), be prepared to lose that earnest money. It is the seller’s recompense for time lost on the market or any repairs completed during the transaction. This is a very complex issue, so please let us know if you have questions!
Have a not-so frequently asked question? Reach out anytime!