Home Buying Guide

Homebuyer Education

You need to know what you’re getting yourself into when buying what is most likely the most expensive investment of your life. We recommend that every first-time buyer attend some kind of education session whether that be one on one with your agent or in a class setting through something like the Washington State Housing Finance Commission’s Homebuyer Education Course.

It’s important that you understand the process of purchasing a house before you embark on your journey to take own your first property. By going through some form of education or training, you more likely to get a property that fits you and your investment needs

After you have made the decision to invest in a house, there are a few more steps to follow before you find your dream property to make your home.  Once you have established your budget, your wants and needs, developed a plan, and started browsing; it’s time to work with one of our highly qualified brokers who will guide you through the steps below to turn a house into your new home.

Questions? Talk to our First Time Homebuyer Specialist – Liam Naughton!

Liam Naughton“As the first time home buyer specialist my expertise is in finding properties that work for you and your specific situation. Whether you’re looking to house hack or just looking for a good equity play I help leverage our teams knowledge to your advantage. Ask me about our First Time Home Buyer Classes!”

Phone: (425) 577-2238 | Email: Liam@HeatonDainard.com

Who You’ll Work With

Before you find your dream home, it is important to be pre-approved for a loan. Pre-approval will help you determine your final budget, as well as help speed up the process once you do find the home you are searching for. Our brokers can recommend experienced and knowledgable lenders to make the process as smooth as possible.

Once you decide to work with Heaton Dainard, your broker will help you determine your wants and needs, non-negotiables, location preferences, and final budget. Your designated broker will help you search for the home that fits your criteria and arrange appointments for you to view homes. Our team will also assess the long-term resale value of each home you are considering to give you the most accurate long-term resale estimates as well as current valuations.

Once you have found a property that fits your buying criteria, your broker will work with you make an offer. Our team of brokers will work to represent your interests while presenting the seller with an attractive offer on your behalf. Often, the seller will respond with a counter-offer which may include contingency clauses and deadlines. Your broker will work closely with you to ensure your interests are represented in further negoiations.
Once you have a pending agreement, it is important that you go back to your chosen lender to finalize your mortgage. During this time, you will finalize your down payments, interest rates, payment schedule, and all othe related financial conditions associated with closing.

Also known as escrow or settlement, this final step includes: getting a title search, the final wlak-through, and the settlement. If at anytime you don’t understand something in the process, as your broker. Your broker is the best resource for understanding all parts of the closing process.

Congratulations! You are officially a home owner! It’s time to get the moving trucks booked and move into your new home!

Questions to Ask in the Home Buying Process

Asking these questions before you start working with someone will ensure that you’ve found the right fit for you. Be sure to ask questions throughout the process. Everyone should be ready, willing, and able to explain their role in your transaction.

For Real Estate Agents

  • How do you get paid?
  • What’s your availability?
  • How will I contact you?
  • What are some common pitfalls that you see other buyers fall into?
  • What can we do to avoid those?
  • Why should I work with you as opposed to another real estate agent?

For Your First Investment

  • What experience do you have working with investors?
  • Can I see a few of your past deals that’ve worked well for clients?
  • What kinds of data can you provide me with?
  • How familiar are you with my market?
  • What trends are you seeing right now that I should be aware of

For Loan Officers

  • How do you get paid?
  • What’s your availability?
  • How will I contact you?
  • What are some common pitfalls that you see other buyers fall into?
  • What can we do to avoid those?
  • Why should I work with you as opposed to another loan officer?

Home Buying Process Timeline

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