First-Time Buyers

For most people, buying a home is the largest investment you will ever make.  Therefore this can be a very exciting and stressful time. As a first time home buyer the process can often seem overwhelming and intimidating.  At Team Wilson we pride ourselves on guiding first time buyers through every step of the process so you know what to expect and can enjoy the process of buying a home.  

Figure out what you can afford: The first step to buying a home is to speak with a lender so you can get pre-approved for a mortgage.  When you speak with a lender they will advise you as to what you can afford.  A lender can often pre-approve you for a mortgage in as little as 20-30 minutes. Once you're approved they will tell you how much house you can afford and what your monthly payments will be.  Your loan approval will also tell the seller you can afford to buy their home.  

Define what you want: Ask yourself questions about what you're looking for in your new home. Where do you want to live? Do you want to be within a certain distance of your job or would you prefer to live in an area with great schools? Create a list of features you want in your new home and list the reasons why. Use this list as a guide, but remember you will probably need to make some compromises along the way.  
 
Shopping for homes (The Fun Part!!!): Now that you have a better idea of where you want to live and how much house you can afford it's time to start viewing available properties.  By starting your home search online using our custom MLS searches it will help you target homes that meet your criteria. We will set up a custom MLS searches for you which will notify you when properties come on the market that fit your criteria.  

Once we start viewing homes in person you can begin to compare what different areas have to offer. We will see a variety of homes, such as traditional sales, short sales and bank owned homes(foreclosed properties.)  Always keep an open mind when you are looking at homes and never underestimate what a little paint and carpet will do for a home.

Always remember to be honest with your agent. Remember, we're on your side and the more information you provide about a home (good or bad) will assist us in guiding you towards your goal of "your dream home".

Making an offer: Once you find "The One", you'll need to make an offer on the house. This can sometimes be a very stressful time as both parties (buyer and seller) have different goals.  At Team Wilson, we will provide you with comparable homes that have sold in the neighborhood so you can make an educated and reasonable offer.  We will guide you through the process and advise you on what to expect at each stage.   We will also negotiate on your behalf to ensure you are getting a great deal on the house of your dreams.  

Acceptance, Inspection & Escrow: Once your offer is accepted, you will be "in escrow". This is the period in which there is an accepted offer, but the deal has not closed yet. Initially, we will set up and coordinate your home inspection. We can provide you recommendations on home inspectors, termite inspectors, roofers and HVAC companies if needed.  The home inspection is a major step in the home buying process and there are a variety of potential challenges that can be presented during this period. Inspection problems are very common and the difference between closing on your dream home and starting the process over from scratch is often what happens between you and the seller.  Team Wilson will work diligently with you throughout this period. We will assist you in getting quotes on any repairs needed so you are an educated home buyer and can ensure this is the right home for you.  

During this time you will also be working diligently with your lender to provide them all documentation they require.

Closing: A few days before closing we will return to the house for a final walkthrough.  We will ensure that sure any items which were agreed to be repaired were completed and that the house is in the same condition it was when we initially saw it.

You will sign your loan documents at the title company 2-3 days before the actual close of escrow. This is different in every state and our Arizona purchase contract stipulates that buyers are to sign their loan documents 3 days prior to COE. At signing you will bring a cashier's check for your down payment.  On the day of closing we will hear from the title company that the deal has recorded with the county, then it's official; you are a homeowner!

We'll meet you and deliver keys and now it's time to celebrate!