Make purchasing your dream home as easy as possible.
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 our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.
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.
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.
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.
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.
Our goal is to provide you with the most personalized service that is designed to help you buy your dream 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.
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.
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.
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.
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.
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.
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.
I recommend marathon reality James and his team are hands first with being helpful in all situations.
James helped my husband and I in finding a home in 2015. I can not sincerely say enough positive things about James. We were not the easiest clients to work with being that we were new to the process and had VA loan hoops to ju...
We would highly recommend James as a Relator. He works phenomenally around the buyer’s schedule to show houses, process paperwork, etc. he is also VERY knowledgeable when it comes to ideas on renovating or fixing things on your...
James was exceptional right from the start. His area knowledge and tenacity found me the perfect home almost right away. I'd highly recommend him for your home search or sale.
I couldn't say enough about the service James provided. We had to plan this move and purchase this home from 1500 miles away in another state and James made it possible! He was our eyes and ears and he made sure everything that...
James did a fine job helping us to find a house. He was knowledgeable about the market and about the VA loan process. He helped point out the good points and bad points in the houses we looked at. He was never pushy and didn't ...
James is thorough, competent and professional. He kept us abreast of all progress of his buyer as the deal progressed and negotiated each point calmly and without dramatic excess. We would love to have James bring his buyer to ...
Working with James Burton was excellent. He made our first time home buying experience extremely easy. James responded immediately to all questions and would research further if he was not aware of the exact answer. He helped s...
James was very responsive to questions and obtaining information from others. He always provided complete answers and made sure we received more than enough information. Highly recommend!
James was exceptional right from the start. His area knowledge and tenacity found me the perfect home almost right away. I'd highly recommend him for your home search or sale.
Marathon real estate was extremely helpful throughout the entire process, and always quick to respond to any questions or concerns we had in the moment. We would absolutely utilize their services again
They are awesome, responsive, very nice and always available.
2/14/2020 - Keith Gilchrist It went great. James was our advocate from the very start. He was willing to do showings any day and any time, anywhere. He was objective and always offered ideas. He is an expert with the VA loan pr...
James is a great real estate agent. He is very knowledgeable and was with us throughout every step of the home buying process up until closing. James was very responsive and would answer our questions any time day or night. He ...
Jeremiah Smith & his team at Marathon Real Estate are true local professionals. When it comes to residential real estate in the Hopkinton, MA area, Jeremiah should be your go-to. He's very knowledgeable of the market & he'll wo...
For our first home purchase, we were not able to travel to Boston to view potential properties before they were under contract. James personally visited each property we were interested in, FaceTimed us, and provided so many de...
My wife and I could not ask for a more professional, likable and knowledgable agent. James was always available to answer our questions throughout the home buying process and made us feel exceptionally comfortable. His knowledg...
Very professional and knowledgeable. Made the process for a first time homebuyer extremely easy. Lastly we were able to reach him at all hours of the day to include holidays
Mr. Burton is a committed professional in his field. Not only did he help me secure an amazing unit in a competitive location, he did not back down when negotiations could have led to an undesirable result for all parties. I tr...
I have worked with James on various different occasions and can say that he is a top notch agent! He is very thorough and forms strong relationships with any client he works with. I would highly recommend!
We pride ourselves in providing personalized solutions that bring our clients closer to their dream properties and enhance their long-term wealth. Contact us today to find out how we can be of assistance to you!
