Buyer’s Guide

STEP 1: RESEARCH

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

STEP 2: DECIDE ON YOUR BUDGET

Notice we said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’re paying cash for your property, sticking to your budget is even more critical to ensure you have reserves for any unexpected expenses or future needs.

STEP 3: GET PREQUALIFIED

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree.

Just as a mortgage lender may approve you for too large of an amount, they may also approve you for a lesser amount or delay your mortgage approval timeline altogether.

Lack of time at a job or a newly launched business endeavor can cause delays when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional. We can help introduce you to reputable lenders, if you need help in the matter. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan. This step, of course, is only needed if you aren’t paying cash for your property.

STEP 4: CHOOSE RYAN & SARAH MCKINNEY AS YOUR REAL ESTATE AGENT

Technically yes, you can shop for, view, and make an offer on a home without a real estate agent. But why take on such an important financial decision alone when you can have a trusted advocate by your side? You deserve representation, and we are here to act as your fiduciary throughout the entire process. Our job is to help identify properties that align with your vision, arrange showings, and guide you through the offer process. More importantly, we will leverage our in-depth market knowledge and negotiation expertise to ensure you’re not just making a purchase but making the right investment. Our value is determined by YOUR success. That also means sometimes advising you to walk away from a property if it’s not the best fit. Finding the perfect home can be overwhelming, but our insight, experience, and dedication will make the process easier. Let’s connect to discuss your dream home criteria, and we’ll work with you to find the one that’s right for you.

STEP 5: FIND THE RIGHT HOME

This should be the most enjoyable step of the entire process (other than moving in!). We will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

STEP 6: MAKE AN OFFER

Once you have selected the perfect home, we will work to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

STEP 7: HAVE THE HOME INSPECTED

In most cases with our clients, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed.

We can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

STEP 8: SELECT YOUR LOAN

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with. If you’re paying cash for your property, you’ll skip this step.

STEP 9: GET A HOME APPRAISAL

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house. If you’re paying cash, there will not be a lender to require an appraisal. Based on your contract, you can still reserve the right to get a home appraisal.