Buying Your First Home? You've Come to the Right Place.
For first-time home buyers, the representation of a NAEBA member Exclusive Buyer Agent (EBA) is absolutely essential. There are many details of the home buying process that can seem overwhelming to a first-time buyer. Your EBA provides the information and guidance to help you succeed!
The following is a very simplified overview of the home buying process. Your Exclusive Buyer Agent will provide you with a home buying consultation that explores your needs and goals. From there, a home buying plan will be put together to help you achieve home ownership!
1. Read the “How to Buy a Home FAQ” on our website! This may cover some of the questions you may have, and bring up points you may not have thought of.
2. Talk to an Exclusive Buyer Agent. Find an EBA in your area today!
3. Your EBA can refer you to a local, reputable mortgage lender, if you don’t have one already. Contact your lender about obtaining a mortgage pre-approval, not a pre-qualification. Ask your EBA about the difference and the importance of a pre-approval over a pre-qualification.
4. Determine your overall home buying budget, considering your down payment, mortgage pre-approval, homeownership expenses, utilities, and so on. Consider other life goals such as saving for retirement or a child’s college fund.
5. Decide your priorities in a home, beginning with the neighborhoods you prefer, and the number of bedrooms and baths you need for your household. Decide what you need most, and be flexible on the rest.
6. Begin your home search with the help of your Exclusive Buyer Agent! He or she will share information about homes for sale, including MLS, FSBO and home builders.
7. When you find the ideal home, make an offer based on the expert advice of your EBA!
8. Your Exclusive Buyer Agent will negotiate the home purchase on your behalf, based upon your instructions and wishes, while protecting your best interests.
9. Once your offer has been accepted, it’s time to order your home inspection, purchase your homeowner’s insurance, and prepare for closing. Your EBA will be close at hand! If any issues arise, he or she will work to resolve them.
10. You will receive pre-closing documentation that explains your transaction costs. You will then proceed to the scheduled closing. Your EBA will be there to answer any questions!