Your Ultimate Real Estate 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 your agent will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

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.

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.

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.

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. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.

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.

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.

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.

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.

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.

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.

Client Success Stories

Viviana A.

Working with Karina has been a dream. Her knowledge and expertise made us feel comfortable that we were making the right decision. She makes your life so much easier with her effort and open communication. Thank you forever! Vi...

Kaung S.

As a buyer's agent, I often find that the listing agent's professionalism is the key factor in a smooth closing, and Karina Hiselman exceeded all expectations. From initial offer submission through the final closing, communicat...

Laura D.

Karina is great; she just helped us close on our home. It was definitely a tough market, but she is an expert. I want to thank her for always following up and walking us through a smooth home buying process.

Jesus S.

Karina was an absolute pleasure to work with. She assisted me in finding a home that fit both my budget and my commuting needs. Throughout the entire home-buying process, she remained highly communicative and responsive. As a f...

Carlos R.

I had the opportunity to work together on a transaction for a widowed client and Karina's compassion, professionalism, and strategic guidance made all the difference. Despite multiple higher offers on the table, Karina knew exa...

Alex B.

Working with Karina Hiselman made home buying fun and easy. She made purchasing my condo in Oak Park remarkably effortless. Karina was patient, efficient, and was always there to answer any random question of mine. She’s a pro'...

Brian F.

Karina is always a pleasure to work with. From beginning to end, she makes sure to keep all parties informed and is incredibly knowledgeable about the market. Her proactive approach makes the entire process smooth and efficient...

Nazar B.

I've had the pleasure of working with Karina on multiple projects, and I can confidently say she's an outstanding professional and an even better person! She genuinely cares about her clients and goes above and beyond to make t...

Lorena R.

Karina is an incredible realtor who truly goes above and beyond for her clients. She genuinely cares about their needs and works tirelessly to ensure they feel supported throughout the entire process. I’ve seen her thoughtfulne...

Buyer

My husband and I came to Karina with no knowledge of how we could make our goal a reality. Karina not only took her time to educate us but she took charge and helped us make our dream a reality. We could not have asked for a be...

Ashley L.

It’s been three wonderful years in my beautiful home, and I have Karina Hiselman to thank for making it happen. She helped me find a house that perfectly suited my needs for both work and school. Karina was incredibly understan...

Buyer | Seller

Karina serves her clients with care and excellence like no other! It’s been a pleasure working with Karina.

Salvatore P.

I work with Karina for real estate transactions and working with her is a breeze! She legitimately cares about her clients, is responsive, communicates well, and is knowledgeable in real estate. I highly recommend Karina for yo...

Danielle J.

Very professional, knowledgeable, and honest! I would recommend Karina to friends and family!

Annamarie C.

I've worked with several realtors over the years, and I consider Karina as one of the best! Not only was she attentive and dedicated to me as her client, showing me places I wanted to see, but she took a personal interest in ma...

Junior S.

My experience working with Karina was great! She was very professional and prompt in selling my home in Chicago on the corner of Leland and Melvina. I have nothing but positive things to say about her. It was the smoothest sale...

Mirsa E.

I want to express my gratitude for the incredible experience of purchasing our new home with you. From the beginning, your professionalism and dedication made my husband and I feel safe and confident throughout the entire proce...

Ixcel M.

Karina is a professional. She helped us and answered our questions in the best possible way, and was very dedicated to her job. She will listen to your needs and will give her best to meet your expectations. Thank you, Karina, ...

Mia L.

I just wanted to share our experience with Karina as she assisted in selling our house in Lincolnshire recently. From start to finish she was extremely patient, understanding, willing to do whatever it took to make sure everyth...

Kevin H.

Karina is a very nice and friendly person. She is an excellent realtor. She knew what she was doing. I can count on her. I gave her five stars. She is my number one realtor.

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Every client has a unique story, and every move deserves a customized approach. Karina takes the time to understand your goals while providing expert advice every step of the way. From consultation to closing, you'll have a trusted advocate by your side.

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Buyer's Guide