Buyer's Guide

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 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.

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 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.

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.

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.

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.

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.

Testimonials

Emily

Elise is the consummate professional and we could not have had a better experience working with her. She truly made every step of the home selling experience positive and easy. We were highly impressed and grateful for the beau...

MRM

We had a phenomenal experience working with Elise. She is extremely knowledgeable about the area, the market, and her clients' wishes. In addition, she is responsive, engaged, and on top of everything. She made buying our home ...

Marty

A delight to work with in every facet of the home buying process. Our first time buying a home and she helped my wife and I through the whole process with ease. From getting us a great deal to having multiple options for every ...

Heather

We had such a great experience with Elise as our realtor, both for selling our home and purchasing our new home. She was energetic and always prepared for everything, offering great ideas that worked well for our family and sit...

Jim

We are first time homebuyers and could not be happier with the service Elise provided. We were on a very tight timeline to view houses and submit an offer. Elise took our list of homes and masterfully organized them to provide ...

Lauren E.

We recently purchased our first house with Elise. She was so patient with us as we were in the process of moving from overseas. She was so great we felt comfortable and confident in buying our house sight unseen! Highly recommend!

Buyer

Elise was amazing to work with. Buying a house from across the country can be complicated, but other than the time change, we hardly noticed the difference. She even showed us the house we ended up buying on video chat. She rea...

Matt

Elise was fantastic to work with from start to finish. She is very professional and friendly and is a proactive and timely communicator. She was highly knowledgeable on the local market and effectively used all marketing sites ...

Martin

Elise is friendly, professional, and extremely knowledgeable. She helped us find the perfect home in the short time we had before relocating to Norfolk. The entire process was seamless, thanks to Elise! She is truly wonderful t...

Buyer

My wife and I had an Outstanding experience with Elise during the purchase of our new home! After setting our house hunting dates and providing an outline of what we were looking for, we flew in from Japan and in the first 48 h...

Casey & Emily C.

Heather was a true joy to work with. From the very moment we were connected with her she took unbelievable care of us. Her knowledge of the community, responsiveness, professionalism, kindness, and expertise in the home buying ...

Tessa S.

Great and easy experience. In A crazy market was able to get my first offer picked. Very helpful and informative 10/10 would recommend it.

Catherine I.

Elise Chard was Phenomenal. She found exactly what we were looking for and was exceptionally communicative and easy to work with. I would recommend her without reservations!

Dustin P.

We worked with Elise Chard to both purchase a home and sell our current house. The experience was top-notch. She was extremely responsive, was in constant communication, and went above and beyond our experience with previous ag...

Robert T.

Second-home purchase with Elise Chard and she will be my go-to when it is time to sell. An outstanding and knowledgeable agent who possesses an educated understanding of the Hampton Roads market. 2 for 2 in a highly competitive...

William Z.

Lauren was terrific to work with. Always professional, responsive, and solution-oriented. She helped us find our new house and sell our old one in the most efficient manner possible. She made the process as smooth and painless ...

Stephen C.

We cannot express enough how amazing Lauren was in the process of selling our home. She made it effortless, fun, and fast! Highly recommend!

Bobby F.

Lauren was professional and her guidance was exceptional in selling my home. I am extremely pleased with the outcome and feel it was because of Lauren's hard work and knowledge. I am very grateful for a very successful selling ...

Amy M.

Real estate transactions are high stake: shuffling around your largest investment while deciding where to raise your family is equal parts terrifying and exciting. Lauren brilliantly paired vast market knowledge with high-level...

Chad R.

Elise is an outstanding realtor. I am thankful that she represented us through our purchase and for how she assisted my family in our move to Chesapeake. She was on top of every aspect of our purchase. I especially appreciate h...

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In today's real estate market, there is simply no substitute for a good REALTOR®. Whether you're aiming to buy or sell property, a REALTOR® can spell the difference between a smooth transaction and an unsuccessful one.

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A Step-by-Step Buyer's Guide