Buying a home is one of the most exciting milestones of your life. To prepare for this moment, you need to know what to expect during the process. This step-by-step Buyer’s Guide created by your agent will help reduce the stress of buying a home in St. Charles County and help you enjoy the journey.
Do you already know where you want to buy a home in the St. Charles County area? 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 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.
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 in St. Charles County? 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. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.
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.
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.
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.
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 in St. Charles County 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 in St. Charles County or anywhere, 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.
Cheri & Brian are a great team! Professional, knowledgeable, friendly, trustworthy.
Have used Cheri on the sale and purchase of 2 homes, she provides honest, consistent, exceptional service! Always a pleasure to work with Cheri - greatly respect and appreciate her expertise.
Thank you Cheri, have enjoyed working with you! Personal Attn - Fast Responses
We just closed on our home with Brian and Cheri Norton as our Realtor®. This was the 2nd time we worked with them. Our entire experience was seamless! From the time we called to have our “sit down” and talk through pricing and ...
I have bought and sold a home with Cheri and her team and on both occasions the process and very smooth and easy. As a bonus, she and her husband do some incredible things in the community through charity work. Wonderful people...
Cheri always listened to our housing needs and helped us find the house that worked for us. When selling our last house, which she helped us find, she suggested the right asking price and got us the most I think we could for ou...
Amazing overall experience! Thank You, Cheri! We will give you a call when shopping for my Mom’s new home.
What stands out most is how helpful and timely both Cheri and Lori were. Thank you for everything!
We appreciate the patience, kindness & overall help throughout the entire selling–buying process.
Cheri went over every step in detail. Both times (I used your office) were great experiences.
Thank you for being with us every step of the way and guiding us through. We appreciate you!
You and your team earned an A+ from these two retired teachers! Thanks for everything!
Very helpful with parents and understanding their needs. Very professional.
Knowledge & Professionalism. The buying process was explained in totality.
We were very pleased with the attention and help we received from Lori!
You and your staff are so personable. Wouldn’t use anyone else!
Thank you for everything! You made this experience a breeze!
Cheri was always available or returned my calls promptly!
Professional, helpful, friendly! Stream-lined! Easy!
You all did great – couldn’t ask for better service.
When working with The Cheri Norton Team, you can count on nothing less than a team of seasoned professionals with an intimate knowledge of St. Charles County real estate who are devoted to serving your needs!