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

Mike & Sue G.

This is the second time that we have worked with Kimberly. The reason we worked with her again is the personalized experience that Kimberly provides. She is a super busy agent and she always takes the time to answer my texts or...

Bob & Katherine T.

We had the absolute pleasure of working with Kimberly Olsen to sell two of our properties in Rancho La Quinta Country Club. The experience was exceptional from start to finish. Additionally, having a realtor with a legal backgr...

C. Bell

Shanna and I were very grateful for Kimberly and Celeste. Kimberly’s knowledge and complete start to finish service made this a stressless experience. Kimberly took care of the small details and left nothing behind! Thanks!

Patricia G.

Kimberly is incredibly knowledgeable, professional, and thoughtful in how she serves her clients. I've been impressed with the business she has built and the strong reputation she has established through hard work and consisten...

S. Sirr

We highly recommend Kimberly Oleson, Luxury Property Specialist at Caldwell Banker Realty. Thank you Kimberly, and your team, for your outstanding marketing expertise, execution skills and professionalism on the recent sale of ...

D. & D. Aaker

Kimberly Oleson is the best. She is very professional, very thorough, and very patient. Our two transactions with her were flawless. She was with us every step of the way. We could always count on her. She is not only our realt...

Ryan S.

I recently worked with Kimberly on an off-market deal where her sellers were needing a cash offer with no contingencies due to the condition of the property. Kimberly gave my team and I a fair shot at making an offer to her cli...

Larry & Sue M.

Kimberly Oleson recently sold our 2 bedroom casita at Rancho La Quinta in near record time. Two bedroom casitas are difficult to move but her strategy to employ a spectacular photo presentation in addition to a 3 week “Coming S...

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...

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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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