Let’s Buy Our First Home

Real Estate AgentI still remember when we bought our first home in Sioux Falls, S.D.– excited and nervous, just out of college, working and determined to live the American dream.

We borrowed the down payment from my grandmother. We went to the locally owned bank where we sat in the Vice President’s office and answered his questions as he took notes. Two weeks later the loan committee met and we were approved.

If only it were so simple now!

Complex Process with New Laws and Regulations

The housing market collapse has forever changed the landscape of home buying. Today the process is complex; filled with new Federal and State laws governing, new regulations designed to protect the buyers, new regulations governing appraisals, and significantly more detailed contracts reflecting the new environment.

You will have to learn a great deal while considering questions as seemingly simple as: How much can I afford? How will I get enough money for the down payment? What are the likely closing costs to be? What is mortgage insurance and how do I avoid it? How much of a loan will I need and where can I find the best loan? How do I begin the look for a home? What should I expect from my real estate agent? What type of home is right for me?

Role of Your Agent

The most important piece of advice I have for you as first time home buyer is to find a first rate, top notch full time professional real estate agent. (I know all agents say that, but not all buyers do their due diligence to find the right agent.)

This person will be responsible for educating you and answering the questions that you don’t even know enough to ask. This is the person you want — they fundamentally care about doing the right thing for you.

This person will be your sounding board as you talk yourself through the decisions you will need to make. This person will be your counselor when you experience the emotional ups and downs of the process.

Choose someone with some life experience who is rational and emotionally grounded. Trust me you don’t want to have babysit your agent if negotiations get tense or your lender is behind schedule in meeting the closing date.

Always remember that you are the most important person throughout the entire real estate process. It is easy to think that many others may have more expertise or clout, but the truth is that you, the buyer, are the one person in this transaction that makes it all happen. If you decide not to buy, the entire process comes to a complete stop. You have the power!

My business is all about knowing that when I represent you I have created my next great reference.

Call or text 480.205.1160
kathyammon@gmail.com

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