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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.

My 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.

WHAT OUR CLIENTS SAY

I worked with Diane Phillips she took her time and had great knowledge about the local area. She took her time going over rental properties that best suited my budget and needs.

— Buyer | Seller

WHAT OUR CLIENTS SAY

Marilyn was extremely helpful throughout the entire process. It is a very competitive market so she needed to be on top of things and constantly updated me about new rentals that came available. I would highly recommend her to anyone looking in the area. She is extremely knowledgeable about the area and found me exactly what I was looking for.

— Buyer | Seller

WHAT OUR CLIENTS SAY

Marilyn went above and beyond with both the search process as well as negotiating and securing my new home. I highly recommend using her in your search for a home. She is knowledgeable, courteous, professional, and very dedicated. Searching for a new home is stressful process she makes it so much easier. I cannot say enough great things about her.

— Buyer | Seller

WHAT OUR CLIENTS SAY

Diane was everything I ever wanted as an agent! I had the best first-time buyer experience thanks to her. She is very knowledgeable, responsive, and cares about her clients. I was in the best hands, I would recommend her to anyone! Thank you, Diane, I look forward to keep working with you in the future!

— Buyer

WHAT OUR CLIENTS SAY

Diane is super professional and knows how to sell your home fast. She did an amazing job helping me go through hard process, she helped me transform my house into a beautiful home, which was sold very quickly, it went under contract within two weeks of being on the market. Diane has supported me emotionally through the whole process. She always answered my phone calls and always was ready to answer my qu...

— Seller

WHAT OUR CLIENTS SAY

Diane was very professional from the beginning. She knows the Tampa bay area and always is proposing ideas according to us as a clients. She went above and beyond in every single step of the process something really helpful being our first time doing this process. Always answer our questions and support us to get things done to close. Amazing and trusted agent.

— Diego G.

WHAT OUR CLIENTS SAY

Diane was amazing from our first conversation all the way through closing. She listened to what we wanted, knew all the right questions to ask, and really went to bat for us with every aspect making sure we got the best deal. Diane has a group of quality inspectors, loan officers, and other professionals she will connect you with throughout the process. Buying a house is scary, it’s a big commitment. She...

— Amanda M.

WHAT OUR CLIENTS SAY

Our experience with Diane as our realtor was amazing. She efficiently honed in on our preferences, leading us to find our ideal home faster than expected. Diane's professional yet approachable demeanor made the home-buying process notably stress-free. Her attention to detail and willingness to go the extra mile set her apart. We highly recommend Diane for her expertise and personable approach to anyone i...

— Joseph B.

WHAT OUR CLIENTS SAY

Diane had bigger fish to fry than my little house but she stayed on top of things. I never needed to call her for an update because she beat me to it every time! She was right on top of things, knowledgeable and knows the area and market. She’s a great gal and we’re thrilled with, what she did for us. I’m already sending her referrals.

— Matt & Dinah S.

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M. Diane Stull

(813) 600-8011

[email protected]



3309 W BAY TO BAY BLVD
TAMPA FL 33629