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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.

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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. 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.

Our 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. 

Testimonials

"Elaina has been absolutely amazing from the very beginning! Elaina first helped our family purchase a house in 2019. Since then she has help us sell two houses and purchase another. No matter what obstacles we are faced with (there have been quite a few) she has alway fought until the very end making sure that we walk away with exactly what we wanted. No matter the circumstances, we will always recommend with full confidence, knowing she will get the job done!"
"Elaina has been absolutely amazing from the very beginning! Elaina first helped our family purchase a house in 2019. Since then she has help us sell two houses and purchase another. No matter what obstacles we are faced with (there have been quite a few) she has alway fought until the very end making sure that we walk away with exactly what we wanted. No matter the circumstances, we will always recommend with full confidence, knowing she will get the job done!"
Alisha H.
"Just bought my first house with Marissa. Made the home buying experience easy and painless. We closed on a house in 3 weeks. Had an excellent experience with her. She negotiated and was able to lower the purchase price, saving us thousands. She is humble and works hard. Once we decided to put an offer in, that night she wrote the offer up and we were able to send the offer in the same day. When we asked for an estimate she was able to get us estimates by the end of the week. Invaluable. She also has great connections to inspectors, and tradesmen."
"Just bought my first house with Marissa. Made the home buying experience easy and painless. We closed on a house in 3 weeks. Had an excellent experience with her. She negotiated and was able to lower the purchase price, saving us thousands. She is humble and works hard. Once we decided to put an offer in, that night she wrote the offer up and we were able to send the offer in the same day. When we asked for an estimate she was able to get us estimates by the end of the week. Invaluable. She also has great connections to inspectors, and tradesmen."
Jimmy Z.
"Elaina is the best agent I have ever worked with. She helped me find the perfect rental property and when it came time to buying a property for me and my wife, she came through big time. She works so hard to give you the best experience possible. I've never had a call or message go unanswered almost immediately and she truly works with your best interest in mind. Elaina is so personable and friendly. She has even connected me to specialists in the field of home repair that are top notch. I could not have been happier and wouldn't want to work with anyone else. If you are looking for a real estate agent who will go above and beyond to make your home buying experience special and painless, you have to go with Elaina Bellas."
"Elaina is the best agent I have ever worked with. She helped me find the perfect rental property and when it came time to buying a property for me and my wife, she came through big time. She works so hard to give you the best experience possible. I've never had a call or message go unanswered almost immediately and she truly works with your best interest in mind. Elaina is so personable and friendly. She has even connected me to specialists in the field of home repair that are top notch. I could not have been happier and wouldn't want to work with anyone else. If you are looking for a real estate agent who will go above and beyond to make your home buying experience special and painless, you have to go with Elaina Bellas."
Buyer
"Thanks to Elaina, I was able to purchase my first home and she really made this entire process a Breeze! She is professional, responsive and works incredibly hard to get you everything you want and need. She is thorough and pays attention to the small details, on top of being warm and welcoming. I would recommend Elaina to all of my friends and family. If I ever decide to sell or buy again, I will only be going through Elaina."
"Thanks to Elaina, I was able to purchase my first home and she really made this entire process a Breeze! She is professional, responsive and works incredibly hard to get you everything you want and need. She is thorough and pays attention to the small details, on top of being warm and welcoming. I would recommend Elaina to all of my friends and family. If I ever decide to sell or buy again, I will only be going through Elaina."
Alexis H.
"My husband and I were first time homebuyers and had little to no clue what we were doing. We are forever grateful that when we began our home search, we were set up with Elaina because she was an absolute dream to work with. As soon as we had our first conversation she began to help us search for everything we needed and wanted in a starter home and was always up front and quick to communicate with us. Without Elaina’s knowledge, organization, timelines, and personalized checklist we would not have made it through the process as efficiently and stress-free as possible (which is especially remarkable considering we closed in less than a month and signed the week after New Years). If we were to go through it all again, we would choose Elaina to guide us through it and negotiate for us in a heartbeat!"
"My husband and I were first time homebuyers and had little to no clue what we were doing. We are forever grateful that when we began our home search, we were set up with Elaina because she was an absolute dream to work with. As soon as we had our first conversation she began to help us search for everything we needed and wanted in a starter home and was always up front and quick to communicate with us. Without Elaina’s knowledge, organization, timelines, and personalized checklist we would not have made it through the process as efficiently and stress-free as possible (which is especially remarkable considering we closed in less than a month and signed the week after New Years). If we were to go through it all again, we would choose Elaina to guide us through it and negotiate for us in a heartbeat!"
Connelly M.
"Elaina is wonderful! She was extremely patient and understanding with us as we guided our young adults through the process of finding a place to live near a college campus. She did an awesome job of listening to our needs and helping us find a perfect property!"
"Elaina is wonderful! She was extremely patient and understanding with us as we guided our young adults through the process of finding a place to live near a college campus. She did an awesome job of listening to our needs and helping us find a perfect property!"
Buyer
"Elaina is the best, bar none! We were lucky enough to be matched with her through Zillow, but at the time, we weren’t sure whether it was the right time to buy. Between the calming and encouraging effect of Elaina’s expertise and finding just the right house, we couldn’t have done any better. We especially appreciated Elaina’s negotiation prowess and quick responses to our many questions. Whether it’s your first purchase or fiftieth, Elaina Bellas should be your first call!"
"Elaina is the best, bar none! We were lucky enough to be matched with her through Zillow, but at the time, we weren’t sure whether it was the right time to buy. Between the calming and encouraging effect of Elaina’s expertise and finding just the right house, we couldn’t have done any better. We especially appreciated Elaina’s negotiation prowess and quick responses to our many questions. Whether it’s your first purchase or fiftieth, Elaina Bellas should be your first call!"
Michael T.
"Elaina Bellas is the most amazing realtor in the state of Maryland, she is very out going and we’ll spoken and very knowledgeable about your home buying experience, I will definitely recommend Elaina to all my friends and family. Thank you Elaina for everything you did and for helping us find the best home for our family to create new memories. You are the Best!"
"Elaina Bellas is the most amazing realtor in the state of Maryland, she is very out going and we’ll spoken and very knowledgeable about your home buying experience, I will definitely recommend Elaina to all my friends and family. Thank you Elaina for everything you did and for helping us find the best home for our family to create new memories. You are the Best!"
Buyer
"Elaina was a dream to work with! She handled every obstacle with speed, efficiency and most importantly professionalism. Elaina is incredibly savvy and knowledgeable. My wife and I are thrilled to have worked with such a great agent as Elaina Bellas. I would highly recommend her services to all of my friends and family."
"Elaina was a dream to work with! She handled every obstacle with speed, efficiency and most importantly professionalism. Elaina is incredibly savvy and knowledgeable. My wife and I are thrilled to have worked with such a great agent as Elaina Bellas. I would highly recommend her services to all of my friends and family."
Roger C.
"I worked with Marissa both to buy a house and sell my current home. She was patient, listened to my requests and worked with me to find the right place. Once I choose a home she went above and beyond to determine what to offer and which contingencies were worth pursuing. Even in a competitive market I was able to obtain the house I wanted. I am very happy in my new home. Marissa even gifted me with a welcome home gift including thoughtful items for my pets, who were huge factors in choosing a home that fit needs for me and my animals. She and Elaina also worked on preparing and showing my old house to get the best offer. I really appreciate everything they did to help with my big transition!"
"I worked with Marissa both to buy a house and sell my current home. She was patient, listened to my requests and worked with me to find the right place. Once I choose a home she went above and beyond to determine what to offer and which contingencies were worth pursuing. Even in a competitive market I was able to obtain the house I wanted. I am very happy in my new home. Marissa even gifted me with a welcome home gift including thoughtful items for my pets, who were huge factors in choosing a home that fit needs for me and my animals. She and Elaina also worked on preparing and showing my old house to get the best offer. I really appreciate everything they did to help with my big transition!"
Brenda S.

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