Buy With Me

• Make informed decisions with current market insight and the perspective that comes from years in the field.
• Have a skilled negotiator in your corner, fully committed to protecting your interests and securing the most favorable terms.
• Enjoy a smooth experience, knowing every detail of your transaction is handled by a knowledgeable professional you can trust.

A Step by Step First Time Buyer’s Guide

Buying a home is one of the most exciting milestones of your life. To prepare for this moment, you need to know what to expect. This guide will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

1. Research

   Do you already know where you want to buy? Do you want a condo, a townhome, or a single family home? Which features do you like and dislike? What is 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.

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 approve you for more than you are 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 have lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

3. Get Prequalified

   Just because you think you can afford a certain payment every month does not mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer, as some sellers will not entertain offers from buyers who are not already prequalified for a loan.

4. Choose a Real Estate Agent

   Can you search for homes, schedule showings, and make an offer on your own? Technically yes, but why would you when working with Jason Gruner costs you nothing and takes the stress off your plate? Jason brings more than 20 years of market expertise and a well connected network that gives you access to opportunities most buyers never encounter, including off market and coming soon properties. Beyond finding homes that fit your criteria and arranging showings, Jason’s deep knowledge of the Middle Tennessee market means he can steer you away from the wrong fit, point you toward hidden gems, and give you informed guidance.

5. Shop for 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 are interested in that are within your price range. Take notes about what you like and do not like, and pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Do not limit your inspection to the home itself. 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 schools and grocery stores.

6. Make an Offer

   Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on the list price and whether the current market favors buyers or sellers, your offer may be below, at, or even above the asking price. We will help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house goes under contract.

7. Have the Home Inspected

   In most cases, your offer will be contingent on having the home inspected to make sure 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 moves to step eight. If there are, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

8. Select Your Loan

   Now is the time to go back to the mortgage lender who prequalified you and choose your mortgage. You will be presented with options based on your financial situation, including fixed rate, variable rate, 15 year, 30 year, or special programs such as VA loans or FHA loans. Work with your lender to select the option you feel most comfortable with.

9. Get a Home Appraisal

   Your lender will have your new home appraised so they have an independent value of it. The appraisal is to make sure all parties involved are paying a fair price for the house.

10. Sign the Paperwork

    No one looks forward to all the paperwork involved in buying a home, but it is a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you are finished, you will be the legal owner of your new home.

Congratulations!

After signing the final paperwork, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that is done, you will be all set to move into the home of your dreams.

Search homes on Coldwell Banker