Buyers

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.

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Jennifer was so excellent to work with during the sale of our condo. We had a really tough time with the first broker that we worked with, and we were actually thinking about renting our home out or pushing off the sale after those issues, but Jennifer came in like wonder woman and saved the day. She helped us with our buyer, did the showing with me, and helped me through the whole process step by step. ...

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Jennifer is amazing! Half my family are realtors( they are great as well), and yet I love to recommend Jennifer to my friends. Her drive and passion is top notch. She excels at reading the market and negotiating to maximize the opportunity for her clients. Recently, she dropped everything to show me a couple of houses I was interested in. In less than a few hours she had all the research done on the prop...

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I loved working with Jennifer for both the sale of my home and the purchase of another. Her knowledge of my area helped me list my home at the perfect time, and she was able to help me negotiate things that I hadn’t even thought of. Her dedication and diligence carried over into the purchase of my next property, and she was able to help me smoothly close the transaction. Even in a rapidly changing market...

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I can say with confidence that Jennifer is the reason my partner and I are living in our dream starter home. She met with us early in the process to give us information about the market and connected us with an amazing lender. We looked at a handful of houses, but when we were finally ready to put in an offer, she helped us strategize to get our first offer accepted. She is such a fun person that no part...

— Kellan M.

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We had the fortunate experience of having Jenn Schurter as our realtor when my daughter was selling her home. In the beginning, she spent a lot of time explaining the steps involved in the process. Throughout the sale, she made herself available to answer any questions and was very reassuring when we had concerns. She was successful in selling the home for more than the listed price. Jenn is a warm, prof...

— Nancy F.

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Jennifer is highly knowledgeable and an excellent resource for all things Real Estate. In such a volatile market I trust Jen's advice and expertise. Her weekly newsletters are informative and fun! She is great at keeping you in the loop without ever making you feel pressured. I would highly recommend reaching out to Jen if you have questions about the current market or want to explore buying/selling in t...

— Colvin R.

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Working with Jennifer on buying a house with my wife was a fantastic decision. Her expertise and good recommendations helped get us a great deal on our first house at the pace we wanted. She always communicates quickly when we have questions and has been very pleasant to work with. I would absolutely recommend working with Jennifer if you are looking for a realtor.

— Michael F.

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Jennifer is a fantastic realtor. She guides her clients from start to finish and she is a marketing genius. Her plans have helped my clients in Ohio sell their homes. Jennifer uses her negotiating skills for her buyers and sellers to get a great deal. I recommend Jennifer as a trustworthy real estate agent, she should be your first pick!

— Laura P.

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Jennifer is outstanding! She communicates every step of the way and is prompt, friendly, professional, and thorough. During a crazy time to purchase real estate, she came up with creative solutions. For anyone looking to sell or purchase, I highly recommend working with Jennifer!

— Tina C.

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Jennifer is a master at her craft. She’s committed to continuous improvement and walks with you every step of the way through the transaction. Her attention to detail ensures a smooth closing and you’ll find a great friend through the process. Can’t recommend her highly enough!

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Jennifer carries an enthusiasm that makes her a joy to work with! She's hard-working, enthusiastic, and always goes above and beyond to make sure her clients are getting the best value. She's the best in Oregon, an excellent realtor, and an even better person.

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Jennifer is an expert marketer with the know-how, ideas, and creativity to help her clients through the entire real estate process. Whether you're new to the area or a fellow native Oregonian, Jennifer would love to be your go-to resource for all things real estate in the greater Clackamas County area.

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Jennifer Schurter 

(503) 351-6569

[email protected]


Brokered by Real Broker LLC

2175 NW RALEIGH ST, #110 PORTLAND OR 97210