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Buyer's Guide

Everything you need to know about buying a new home.

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 your agent 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 I 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 a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders? Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but I also have a knowledge of the market that you don’t possess. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.

My goal is to provide you with the most personalized service that is designed to help you buy your dream home.

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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!). I 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. I 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. I 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. 

My Testimonials

See why my clients love working with me.
Matt J.

Matt J.

I am truly thankful for Stephen's guidance in helping me purchase my home. Specifically, Stephen encouraged me to be patient in waiting for the right property to come up, which I'm extremely grateful for as we ended up buying a...
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John L.

John L.

I recommend Stephen to everyone I know who's looking to purchase a home in the Seattle area. He makes the home buyer experience fun and rewarding (there's a reason he has all five star reviews!) His attention to detail during s...
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Jay L.

Jay L.

Stephen definitely exceeded my expectations when I was buying my first home. He met me for an hour by my apartment and went through a pre-buying consultation. He was readily available throughout the search for a new home and wo...
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Brendan & Jen

Brendan & Jen

Stephen helped us buy our first home and while the market is tough to navigate right now, he made the process so much smoother and less intimidating. We're relatively new to the Seattle area and his knowledge of not only the in...
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Paul T.

Paul T.

It was a pleasure working with Stephen to buy our home in Bellevue. From the beginning of the process, he was very clear and patient in guiding us through the process. As first-time buyers, we were grateful for his clarity. Thr...
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Eldar D.

Eldar D.

Stephen helped me buy my first home in November 2015. I worked with him for about 3-4 months. We went to see a lot of places before we put in an offer on a place that I now own. Throughout our working time together, Stephen exe...
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Girish G.

Girish G.

We worked with Stephen to purchase our first home and it was truly a great experience. He was very patient with us and respected all our constraints and never hurried us into a decision. Stephen solely focuses on getting the ri...
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Roberta S.

Roberta S.

I met Stephen through a mutual friend and we started talking about the home buying process after he found out I was interested in buying within the next few years. I was able to buy my first condo a lot sooner than I originally...
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Ryan G.

Ryan G.

Stephen made himself available at 24/7 during the selling process of my condo. Helped me with recommendations to improve the overall value and desirability of my property and did all the leg work to find the best possible prici...
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Derek P.

Derek P.

Stephen's professionalism and work ethic are top-notch. His customer service and availability are second to none. And finally, his skillful navigation of the home buying process and negotiation tactics are unparalleled in all m...
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Lorrie D.

Lorrie D.

Stephen referred the most wonderful clients to me in the Denver area. What impressed me the most was his care and concern for them, even though they had left the Seattle area. He was truly a co-agent in helping, advising and ca...
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Katherin B.

Katherin B.

Stephen and I worked together for 4 years. I know firsthand what a rock-solid broker he is. He truly has a passion for real estate and understands the complexities of the market and how those complexities correspond to protecti...
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Scott C.

Scott C.

Stephen was amazing in helping us find our home. He was easily available. Fast to respond to calls and emails. His rapport with selling agents could be seen with how fast we could see homes (often the same day) and how fast pap...
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Kelly A.

Kelly A.

I would like to highly recommend Stephen Snee. We sold our house in Bellevue while living in California, which my husband and I were very leery of. But Stephen took care of all the details and helped us weigh out hard decisions...
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Kray B.

Kray B.

Stephen is a fantastic Realtor®. He helped my wife and me with our first home. He walked us through each step and helped us get a home on the first offer! I would highly recommend him to anyone and plan on using Stephen for our...
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Adam P.

Adam P.

Stephen helped us sell our previous house and buy our current one. He was great throughout the whole process! Good communication, always on time, very professional. If you're looking for a Realtor® Stephen would be a great choi...
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Joel K.

Joel K.

Stephen is a master at his trade. Professional, timely, engaged, and friendly, with a keen eye for detail. All around, Stephen is great to work with.
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Bryan C

Bryan C

Stephen was very helpful every step of the way. He's very skilled and knowledgeable. I learned a ton working with him. It was a great experience!
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