Buyers Services | Kimberly Oleson | California Real Estate

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Testimonials

Stacey J.

Kimberly and Chelsea made the buying process so easy and got us a great home.

M. Cronin

This was a seamless purchase Kimberly took care of everything! Don't hesitate she has you on both sides! 3 Sales and 3 purchases.

Mark O.

Kimberly was very knowledgeable of the local market and the process of selling our condominium was managed by Kimberly resulting in a stress-free sale.

Lauren B.

It was a great experience from beginning to end! Working with Kim was a treat, she was professional, knowledgeable, and easy to spend days with while we searched for the right space. Thanks so much, Kim!

Mary S.

Kim was great to work with. She was very attentive to all the details and worked great with us and the other agent. She worked and was responsive to all our needs. I would work with her again as she was great!

James S.

Kim was great to work with. She communicated well throughout the entire process. She worked well with us and with the other realtor. She did what she said and always got you an answer. I would definitely use her again as my rea...

Christina D.

She is everything you could ever want in a realtor. She is knowledgeable and experienced in the area and we would definitely use her again. We interviewed several and she was the best and is the best. Her assistant is great too...

Damon S.

We are so grateful to Kim for helping us to buy our new home. Kim is incredibly knowledgeable and thoughtful as a real estate broker. She was always available and responded in real-time to any of our questions or concerns. We h...

Krista B.

Kimberly went over and above in helping us ready our house for sale, she held open houses every weekend, and has exceptional online marketing ability. We were located in the Rancho La Quinta Country Club. She guided us throug...

Carolyn W.

We couldn’t have picked a better realtor than Kimberly! Her local knowledge, professionalism and patience made all the difference. She was well prepared to show us homes and the surrounding areas ensuring we got a good feel for...

Michael F.

Just purchased a home represented by Kimberly. I own several rental homes and have bought and sold dozens in the Coachella Valley over the years. I have had many experiences with various realtors, and I can say without a doubt,...

JoAnn J.

Kimberly is a consummate professional. She is knowledgeable, and conscientious, and always puts her clients first - a rare combination in any business. Our recent La Quinta purchase went smoothly every step of the way. The thre...

Jillian W.

Kimberly Oleson and Chelsea Wilson went above and beyond everything, we could have hoped for for our first home purchase! They found us the perfect home in Lake la Quinta and held our hands every step of the way. We are based i...

Mike C.

Kim was absolutely excellent! She really listened to us and understood what we were looking for. We spoke a number of times but spent only one full day with her in Palm Desert. She was well prepared and showed us many propertie...

Mary H.

When I think of "angels" in our world today, I will always be grateful and blessed to have Kimberly Oleson in my life. Kimberly was absolutely amazing in her willingness to help a close friend and colleague of mine in the sale ...

Jim & Jeanne M.

We were fortunate to have found Kimberly who had listed and sold a unit in our community just before we decided to put our home on the market. We could not be happier with having made that decision. Kimberly brings more skills ...

Hoxsie S.

When we decided to move to the Palm Desert area and were looking for a realtor, Kimberly Oleson was recommended to us. My wife and I were extremely pleased with her performance. She listened to our wants and needs and was very ...

Michelle D.

I'm relocating to the Coachella Valley from Seattle. Kimberly was referred to me by a Seattle friend who had purchased a vacation house from her, his sister-in-law had also purchased a vacation house from Kimberly. Kimberly is ...

Daniel T.

Selling your home is a difficult task, selling and parting with the home that you and your three other siblings inherited from your parents, with all the favorable memories attached to it, is a much bigger undertaking. Add to t...

Cindy W.

Kimberly represented me on my recent purchase in Rancho La Quinta Country Club. I was lucky enough to meet Kimberly at an Open House and, as an out of area buyer, immediately knew her knowledge and expertise would help us find ...

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Trust Kimberly to highlight the unique appeal of your property and attract the perfect buyers. With strategic marketing and personalized guidance, she ensures a seamless selling experience tailored to your goals. List confidently with Kimberly to maximize your property's potential in the market.

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