The Home Buyer's Guide
Every step of buying a home, whether it's your first or your next, from your family in real estate.
Who This Guide Is For
This home buyer's guide is for every buyer: first-timers who feel like "I don't know what I don't know," move-up buyers selling and buying at the same time, and downsizers buying smaller. It walks through every step the way we run it, so you're ready before you're in it. We're The Realize Team at Key Realty, three sisters, and every deal gets all of us.
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Step 1: Know Your Buying Power
Get pre-approved first. Lenders look at your debt-to-income ratio, your credit score, and your savings and assets. Then decide what you actually want to spend; being approved for an amount doesn't mean you have to spend it. We'll connect you with lenders our past clients have trusted.
Step 2: Needs and Wants
Type of home (single-family, townhouse, condo), new or existing, location and commute, bedrooms and bathrooms, garage, yard, and home office. Write down what's essential and what's a bonus.
Step 3: Search Smart
We set up alerts on your criteria. Homes can sell quickly, so try to see new listings within the first day or two. Stick to your budget, and in competitive areas consider looking a bit below the top of it. Allow time; it usually takes at least a couple of months to find the right home.
Step 4: Make an Offer
We base your offer on recent comparable sales, the home's condition, and how long it's been on the market. In competitive areas, we'll talk about escalation clauses and appraisal gaps. Expect some negotiation, and decide your walk-away point ahead of time. Earnest money is usually about 1% of the price, usually held by the title company.
Step 5: Inspections and Appraisal
Most of our agreements include a 10-day inspection contingency. A general home inspection, plus others when they apply: radon, lead-based paint (homes built before 1978), mold, well, or septic. Then you can accept the home, ask for repairs, or walk away within the contract's timeline. The lender's appraiser confirms the value; if it comes in low, we talk through your options.
Step 6: Closing
In our area, title companies handle closings. Expect a 30 to 45 day close. Our sister Lauren keeps every deadline on track. Do your final walkthrough, transfer the utilities, sign, and get your keys. Closing costs can include lender fees, appraisal, title insurance, prepaid taxes and insurance, and recording fees.
Your Next Step
Ready? Book your buyer consultation or give us a call at (234) 200-6477. More: first-time buyers, buying and selling at the same time, and our R.E.A.L. system.
This guide describes our general process. It isn't legal, tax, or lending advice.
Frequently Asked Questions
What should I do first?
Get pre-approved so you know your buying power.
How long does buying a home take?
Usually at least a couple of months of looking, then a 30 to 45 day close.
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Ready to make your move with The Realize Team?