ready to buy a home?
Congratulations!
Buying a home is exciting but can often feel overwhelming. I would be honored to guide you through your home-buying journey. Whether you’re a first-time home buyer, upsizing, or downsizing, there’s always a process I follow to make your experience a success, stress-free, and the most fun as possible.
THE PROCESS
Step one for every buyer is to know how much you can afford. For most, this means getting preapproved. It’s important to know what you can afford before you start your home search.
Follow these steps to get preapproved in the most efficient way:
Gather the documents you’ll need (driver’s license, W2s or 1099s, pay stubs, and bank statements).
Find a mortgage lender to begin the preapproval process. I have a great preferred lender to refer you.
Provide your lender with your documents and answer questions they may have about your credit, employment history, and income.
This is a recommendation, not an actual step. Discuss with your lender what you’d like your monthly budget to be and have them build a preapproval around that amount. This helps keep you within your goals and prevents unwanted surprises.
It’s important to note that a preapproval is not a guarantee of a loan, but a letter that approves you for one, met under conditions after you’re under contract for a house. It will also show what your down payment will be and is usually valid for 30-90 days.
What you can expect
PRIORITIES
When we meet for a consult, one of the first things I ask you is “what’s important to you about moving?” This question, and the subsequent ones helps me establish your true must-haves and your wants. This stays with us as we search for homes to help keep your priorities top of mind and streamline your search.
Time Efficient
Did you know that it takes a buyer only 8 seconds to know if a home is the right one for them? That’s it. 8 seconds. I give my buyers at least 5 minutes. At that point I’ll ask, “what do you think, do want to buy it?” It’s not to rush you; the point of the question is that if you KNOW you don’t love it, let’s move on. There’s no pressure to stay in a prospective house that isn’t the one. But if you’re standing in the house and can visualize your stuff and life there, that’s the place to stay longer
Professionalism
I treat every person with integrity, respect, and kindness. In fact, a lot of real estate agents say that working with me is “like a breath of fresh air” and I take that to heart. But that doesn’t make me a pushover. I negotiate for you like I’d negotiate for myself. Buying a home is generally the biggest financial decision you’re going to make, so I make sure that you feel comfortable to ask questions, feel educated and empowered, and ultimately excited about your decisions.
Emily helped me find the perfect space for me and my family. I appreciated that she took the time to sit down to identify what was important to me when finding a new home and took that to heart. I knew it was going to be challenging to find something that met my needs and my budget - and she was both honest and encouraging. Despite some challenges, we did find the perfect place and during that process, she was prepared, organized, and a great communicator. She had all of the paperwork I needed and was clear on what I needed to provide. I felt like I could depend on her to secure the space for me - and she did not disappoint. I would recommend Emily again and again for anyone looking for a new home - either to rent or own! Thanks, Emily. You are so appreciated!
Annie
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If you’re like most buyers, that’s getting a preapproval for a mortgage. If you are fortunate enough to be a cash buyer, you’ll need what’s called “proof of funds” which is usually a letter from your bank, although that can also be a bank or investment statement
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Perhaps surprisingly, the answer is yes. Buyers’ agents and lenders work as a team with you to get into the home you love. This requires a lot of trust and communication, and it helps you when your lender and realtor already have that established connection. Not only that, once you’re under contract, the listing agent will also frequently communicate with the lender so it’s key to have someone who is available on weekends and after hours (as that’s when a lot of real estate happens). Using a local mortgage lender versus a big bank or online company will always be favorable to all parties.
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Absolutely. I’d be happy to send you a list of my trusted lenders.
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Generally, it’s good for 30-90 days. However, with the fluctuation of interest rates, that may vary.
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Like pulling any credit, it may ding your score a little bit. But you can get multiple preapprovals within a 45 day period and only take one hit to your credit. This can help you find the best rate and fees that suit your needs. Worried about the credit hit? Some lenders have programs to run to give you an idea of pre-approval amount without pulling your hard credit; we can chat about it.
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This is one of the biggest home-buying myths that unfortunately stops a lot of would-be buyers from becoming homeowners. NO. You do not need to put 20% down. Depending on your loan type and eligibility, you could put as little as 0% down, although typical is 3-5%. The average first time home buyer puts down 7%, while overall, the average down payment on a US home is 13%* Are there benefits to putting down 20%? Yes, but if you cannot, don’t let it stop you from buying. There are so many benefits of ownership that outweigh putting down less than 20%. The best choice is to talk to your lender about the differences in costs.
*Experian
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Congratulations! Before even writing an offer, we’ll discuss our strategy and next steps. The basic next steps though are as follows: earnest money (EMD) to be deposited to the title agency, inspection, appraisal, mortgage approval, closing. We’ll walk through each step BEFORE they happen to eliminate any unwanted surprises.
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When it come to the financials, there are a few costs to be aware of:
EMD – usually 1-3% of purchase price (this is a deposit, not in-additions-to)
Private inspection – based upon service and square footage of home, this can range from $250-$500 and is paid to the inspector at the time of service
Appraisal – this is usually around $500-$600 and is paid at closing. This is only required if you are getting a mortgage.
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Closing costs are the amount of money that you bring to the closing table, along with the down payment. In Michigan, it is usually around 3% and consists of property taxes, homeowners insurance, the cost of financing the loan, and paperwork/title fees.
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I have a fantastic list of preferred vendors from painters to contractors to plumbers, etc. I would be happy to share that with you.
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Communication is key and at the core of how I run my business. My goal is for you to feel educated and aware throughout the transaction, so you always feel empowered in your decision making. You are always welcome to reach out to me with questions or concerns. When we meet for our buyer consultation, we will discuss your preferred means of communication and our schedules to make sure we know each other’s preferences, availability, and boundaries.
