Congratulations! Buying your first home is an exciting decision and an experience you'll never forget. While exhilarating, it can be and scary at the same time. It’s likely the largest purchase you’ll make in your lifetime—and also one of the best long-term investments.
With a million decisions and to-do's that comes along with buying real-estate you need someone who can relate, be honest, and help make sure you're confident every step of the way. My job is to help you navigate the twists and turns of the buying process, so that you end up with a house you’re proud to call home.
Most first time home buyers are in a price range that is very competitive, especially in today's market in Portland. This makes it crucial to have a partner that is patient and low-pressure that will go above and beyond to help you secure your dream home.
Here's how i will help you:
Understanding the Process. In our first meeting I'll explain the entire real estate process from start to finish so there are no surprises.
Get Pre-Approved. It's important to work with a credible lender. Someone to help you understand your budget and get pre-approved. Contact me for my top lender recommendations.
Location, Location, Location. Join me Tuesdays for #MYPDXPROPS Home Tours. Together we'll tour Portland's newest properties, talk market trends and help you become acquainted with the various neighborhoods.
Scout. Once you've been pre-approved, picked your neighborhood, and set your criteria, it's my job to find you the perfect home, in your favorite neighborhood, at the right price. I'll set up an automated filter to automatically alert you of any new listings that check all of your boxes. I'll also set up a wider net just for myself to screen and send any additional properties to you that I think you might love.
Tour. I'll arrange tours of homes that meet your search criteria and look great to you.
Offer + Close. Once we've found your home, we strategize to form a winning bid, take our time to inspect the properties conditions, and negotiate a fair price.
After Closing. We celebrate once the keys are officially yours! My duties as your agent do not end at closing. I'm always here for you, whether it's providing you with contractor recommendations to help put your finishing touches on your new home, or provide an updated valuation to track your investment. And, hopefully, we've become good friends.
Common Buyer Terms
Here are some common terms that are likely new to you if you haven't bought or sold a home before. Don't worry about trying to memorize all of them now. I'll make sure you become a pro throughout the process.
Loan Amount: The amount of the mortgage based on the purchase price, minus the down payment.
Down Payment: Cash that the buyer provides the lender as their portion of the purchase price. The down payment is considered the buyer’s equity (or cash investment) in their home.
Points: Fees charged by the lender to offset their interest rate, if it’s below the prevailing market rate. One point equals one percentage point—so one point on a $100,000 loan would be $1,000.
Appraisal Fee: The amount paid for the lender’s appraisal of the property
Credit Report Fee: The fee charged by the lender to obtain a credit report on the buyer.
Title Insurance Fee: A one-time premium that a buyer pays for protection against loss or damage in the event of an incorrect search of public records or misinterpretation of title. The title insurance policy also shows what the property is subject to in terms of liens, taxes, encumbrances, deed restrictions and easements.
Escrow Fee: The amount a buyer pays the escrow company or closing agent for preparing papers, accounting for all funds and coordinating the information between all parties involved in the transaction.
Closing Costs: A general term for all the estimated charges associated with the transfer of ownership of the property.
Prepaid Interest: The amount of interest due on the loan during the time period between the closing of escrow and the first mortgage payment, due at the time of closing.
PITI: The estimated house payment, including principal, interest, taxes and insurance.
Principal and Interest: The loan payment, consisting of the amount to be applied against the balance of the loan, and the interest payment, which is charged for interest on the loan.
Total Cash Required: The total amount of cash the buyer will need, including down payment and closing costs.
Premium Mortgage Insurance (PMI) Insurance for the lender, to cover potential losses if the borrower defaults on the loan.
Frequently asked questions
There are truly no 'dumb questions' when it comes to buying your first home. That's what I'm here for. Here's a couple questions I frequently come across.
Does it cost me money to make an offer? When you write the offer on the home you’ve chosen, you will be expected to include an earnest money deposit. The deposit is a sign of your good faith that you are seriously interested in buying the home.
Where does my earnest money go? Once the buyer and seller have a mutually accepted offer, the earnest money is deposited into a trust account. That deposit becomes a credit to the buyer and becomes part of the purchase expense
Can I lose my earnest money? Real estate contracts are complicated legal transactions. This is another area where having a knowledgeable and professional agent is a necessity. Rarely does the buyer lose the earnest money. Most often, if the transaction falls apart, there are circumstances beyond the buyer’s control that cause it to happen. If the buyer willfully decides, however, that they no longer want to buy the house and has no legal reason for rescinding their offer, then the seller has the right to retain the earnest money.
so, where do we start?
Please reach out and introduce yourself! You can shoot me a call, text, or email to connect. Let's find time to grab a cup of coffee for an introduction. I can't wait to meet you.