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Buyer's Guide

A Step-by-Step First Time Buyer's Guide

Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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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.

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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’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

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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 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 on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

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Step 4: Choose Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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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.

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Step 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 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.

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Step 7: Have the Home Inspected

In most cases, 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.

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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.

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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.

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Step 10: Finish Paperwork

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

Congratulations!

After signing the final paperwork to complete the purchase, 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 check is delivered to the seller, you’ll be all set to move into the home of your dreams. 

See Why Our Clients Love Us

Testimonials

"Paul Rinaldi is very professional, attentive to detail, and very easy to work with. Paul stayed the course the whole time he was selling our condo and kept us informed every step of the way. He is a straight shooter and extremely honest with his clients. I can highly recommend him to anyone seeking a truly professional realtor."
"Paul Rinaldi is very professional, attentive to detail, and very easy to work with. Paul stayed the course the whole time he was selling our condo and kept us informed every step of the way. He is a straight shooter and extremely honest with his clients. I can highly recommend him to anyone seeking a truly professional realtor."
Chris F.
"My husband and I want to thank you for staying one step ahead of us in the process of selling our home and making it a very positive experience. Not having sold a home in nearly 3 decades, the process was very unfamiliar to us. Not only were you conscientious and thorough, but you also anticipated our questions and kept us well-informed throughout the endeavor. When decisions needed to be made, you provided knowledgeable advice and options. After listening carefully to our concerns and desires, you proceeded to execute precisely the agreed-upon actions. Your work began right from the start when, without our prompting, you presented us with an extensive comp analysis in the area to establish a fair market value. That showed a significantly better value than we had anticipated. The follow-up was just as well executed. You made sure that we had qualified buyers with a real intent to buy. You completed the sale with administrative activities performed in a meticulous fashion, allowing for a smooth transfer of ownership through the maze of paperwork. I was pleasantly surprised by how easily the negotiations and sales were completed. Again, thank you for making the experience quite pleasant and profitable. We look forward to working with you again and feel confident in referring you to our family and friends."
"My husband and I want to thank you for staying one step ahead of us in the process of selling our home and making it a very positive experience. Not having sold a home in nearly 3 decades, the process was very unfamiliar to us. Not only were you conscientious and thorough, but you also anticipated our questions and kept us well-informed throughout the endeavor. When decisions needed to be made, you provided knowledgeable advice and options. After listening carefully to our concerns and desires, you proceeded to execute precisely the agreed-upon actions. Your work began right from the start when, without our prompting, you presented us with an extensive comp analysis in the area to establish a fair market value. That showed a significantly better value than we had anticipated. The follow-up was just as well executed. You made sure that we had qualified buyers with a real intent to buy. You completed the sale with administrative activities performed in a meticulous fashion, allowing for a smooth transfer of ownership through the maze of paperwork. I was pleasantly surprised by how easily the negotiations and sales were completed. Again, thank you for making the experience quite pleasant and profitable. We look forward to working with you again and feel confident in referring you to our family and friends."
Seller
"We had a great experience with Paul and Michelle Rinaldi. They were both very professional and were able to work on our schedule to show us possible condos which lead to finding the perfect condo in North Palm Beach."
"We had a great experience with Paul and Michelle Rinaldi. They were both very professional and were able to work on our schedule to show us possible condos which lead to finding the perfect condo in North Palm Beach."
Dana J.
"Paul and Michelle did an outstanding job helping us in the process of this Condo. They were very professional and helped all along till the closing. They answered all the questions and concerns we had. We will definitely recommend them to our friends."
"Paul and Michelle did an outstanding job helping us in the process of this Condo. They were very professional and helped all along till the closing. They answered all the questions and concerns we had. We will definitely recommend them to our friends."
Buyer
"Michelle is always available. She doesn't push when you see something you don't like. It was my first time buying in the USA and she did help me step by step. I will work with Michelle again in the future."
"Michelle is always available. She doesn't push when you see something you don't like. It was my first time buying in the USA and she did help me step by step. I will work with Michelle again in the future."
Buyer
"Our experience with Michelle was great. We were in a hurry to move and get our home sold, and she was able to bring in a photographer immediately and list the property. Our HOA was making mistakes during the final approval process, and Michelle was at the forefront of making sure it was completed correctly, as we were out of state at this point. Our title company in WA made an error on the purchase of our home here, grabbing incorrect information from the sale of our home in FL, and once again, Michelle cleared things up with the WA title company. Highly recommend!"
"Our experience with Michelle was great. We were in a hurry to move and get our home sold, and she was able to bring in a photographer immediately and list the property. Our HOA was making mistakes during the final approval process, and Michelle was at the forefront of making sure it was completed correctly, as we were out of state at this point. Our title company in WA made an error on the purchase of our home here, grabbing incorrect information from the sale of our home in FL, and once again, Michelle cleared things up with the WA title company. Highly recommend!"
Leland A.
"I would like to take a moment and recognize Michelle's hard work and dedication in helping me sell my home. She went above and beyond dealing with complex negotiations to ensure a successful sale. Michelle is not your average realtor she is an expert realtor. From the photos of the home to the videos to the complete listing Michelle made sure everything was impeccable. Her expertise in the industry made for a smooth transaction, even in the face of difficulties. I couldn't be happier with the Rinaldi Group and I'm looking forward to working with them in the near future to find my forever home."
"I would like to take a moment and recognize Michelle's hard work and dedication in helping me sell my home. She went above and beyond dealing with complex negotiations to ensure a successful sale. Michelle is not your average realtor she is an expert realtor. From the photos of the home to the videos to the complete listing Michelle made sure everything was impeccable. Her expertise in the industry made for a smooth transaction, even in the face of difficulties. I couldn't be happier with the Rinaldi Group and I'm looking forward to working with them in the near future to find my forever home."
Seller
"Finding the perfect place to spend our time in Florida was tricky before we met Michelle. Her in-depth knowledge of the market and her attention to detail had us signing papers within a week. We've owned our condo for just over a year now and couldn't be happier."
"Finding the perfect place to spend our time in Florida was tricky before we met Michelle. Her in-depth knowledge of the market and her attention to detail had us signing papers within a week. We've owned our condo for just over a year now and couldn't be happier."
Max B.
"Working with Michelle was an absolute pleasure. Her knowledge of the luxury market is unmatched, and she made the entire process seamless."
"Working with Michelle was an absolute pleasure. Her knowledge of the luxury market is unmatched, and she made the entire process seamless."
Morgan K.
"Working with Michelle was not only a wonderful and enjoyable experience on a personal level, but she listened to exactly what I wanted and made sure I got my dream home in a building that offered all of the amenities that mattered to me."
"Working with Michelle was not only a wonderful and enjoyable experience on a personal level, but she listened to exactly what I wanted and made sure I got my dream home in a building that offered all of the amenities that mattered to me."
Christina M.

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