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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 our team 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 we 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 Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to take much of the stress off your shoulders? Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but we also have knowledge of the market that you don’t possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria so you can find the one that's right for you.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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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!). We 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. We 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. We 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. 

Success Stories

"Kevin and Marisa Lin's team just sold my house in Richmond Hill, great service and excellent marketing I thing they’re really professional and sold my house for more than I was expecting in ten days couldn’t ask for a better real estate team, I strongly suggest use Kevin and Marisa Lin services. Me and my family thank their team for an excellent job."
"Kevin and Marisa Lin's team just sold my house in Richmond Hill, great service and excellent marketing I thing they’re really professional and sold my house for more than I was expecting in ten days couldn’t ask for a better real estate team, I strongly suggest use Kevin and Marisa Lin services. Me and my family thank their team for an excellent job."
Kev K.
"Working with Kevin and Marisa Lin has been a remarkable journey over the past two years, filled with trust and professionalism. From selling our home to managing renovations in our absence, their expertise and dedication have consistently exceeded our expectations. When it came time to sell our house, Kevin and Marisa’s quick and strategic approach made all the difference. They handled staging and marketing with such attention to detail that our property attracted numerous showings by interested buyers, ultimately selling for above the asking price in a short time. Their ability to manage the entire process, even while we were away, was nothing short of impressive. Finding temporary housing during a market downturn was another challenge they tackled head-on. They helped us secure a rental without any rush, allowing us to purchase our desired home at the right time. Marisa’s attentiveness and understanding of our needs ensured we found our dream home quickly and efficiently. Their support didn’t end there. We continued to rely on Kevin and Marisa for our new home purchase and for renting out a portion of our house. Throughout every transaction, their unwavering commitment and clear, timely communication kept us informed and confident in our decisions. What truly sets Kevin and Marisa apart is their honesty and professionalism. They go above and beyond in negotiations, ensuring that our needs and preferences are always prioritized. I highly recommend Kevin and Marisa Lin's team. Their personalized approach and dedication make them an exceptional team to work with."
"Working with Kevin and Marisa Lin has been a remarkable journey over the past two years, filled with trust and professionalism. From selling our home to managing renovations in our absence, their expertise and dedication have consistently exceeded our expectations. When it came time to sell our house, Kevin and Marisa’s quick and strategic approach made all the difference. They handled staging and marketing with such attention to detail that our property attracted numerous showings by interested buyers, ultimately selling for above the asking price in a short time. Their ability to manage the entire process, even while we were away, was nothing short of impressive. Finding temporary housing during a market downturn was another challenge they tackled head-on. They helped us secure a rental without any rush, allowing us to purchase our desired home at the right time. Marisa’s attentiveness and understanding of our needs ensured we found our dream home quickly and efficiently. Their support didn’t end there. We continued to rely on Kevin and Marisa for our new home purchase and for renting out a portion of our house. Throughout every transaction, their unwavering commitment and clear, timely communication kept us informed and confident in our decisions. What truly sets Kevin and Marisa apart is their honesty and professionalism. They go above and beyond in negotiations, ensuring that our needs and preferences are always prioritized. I highly recommend Kevin and Marisa Lin's team. Their personalized approach and dedication make them an exceptional team to work with."
Hamid D.
"We want to thank you very much Marisa for the phenomenal support and assistance that you provided after what we went through with our tenant. With your help, you turned the unit around after so much destruction. It looked magnificent in a matter of weeks and rented as well. I would definitely recommend you to friends and family."
"We want to thank you very much Marisa for the phenomenal support and assistance that you provided after what we went through with our tenant. With your help, you turned the unit around after so much destruction. It looked magnificent in a matter of weeks and rented as well. I would definitely recommend you to friends and family."
Farida B.
"We chose Kevin and Marisa Lin to sell our property based on their market knowledge, professionalism, and the care they took to ensure that we fully understood the process. They took the time to understand our needs and tailored their marketing plan to accommodate our situation. They were always available to respond to our questions and kept us informed throughout the process. What most impressed us was that everything they told us to expect, unfolded just as they predicted. Their marketing strategy was well-honed and seamlessly executed. We were also impressed with their negotiating skills. At no time did we feel pressured. They discussed the possibilities with us in a calm manner which made what could have been a very stressful situation so much easier. They are the Dream Team. We have no qualms about recommending them and thank them for guiding us through the often stressful process of selling a home."
"We chose Kevin and Marisa Lin to sell our property based on their market knowledge, professionalism, and the care they took to ensure that we fully understood the process. They took the time to understand our needs and tailored their marketing plan to accommodate our situation. They were always available to respond to our questions and kept us informed throughout the process. What most impressed us was that everything they told us to expect, unfolded just as they predicted. Their marketing strategy was well-honed and seamlessly executed. We were also impressed with their negotiating skills. At no time did we feel pressured. They discussed the possibilities with us in a calm manner which made what could have been a very stressful situation so much easier. They are the Dream Team. We have no qualms about recommending them and thank them for guiding us through the often stressful process of selling a home."
Edie Z.
"Just completed a sale of my property with Marisa and Kevin and it was a wonderful experience. They were communicative throughout the whole process, always helped address our questions, and managed to help us get a good price for our sale in a tough market. Really appreciate all of the work from this team. Would not hesitate to call them again if I have another sales transaction in the future."
"Just completed a sale of my property with Marisa and Kevin and it was a wonderful experience. They were communicative throughout the whole process, always helped address our questions, and managed to help us get a good price for our sale in a tough market. Really appreciate all of the work from this team. Would not hesitate to call them again if I have another sales transaction in the future."
Louis C.
"Kevin and Marisa sold our house in 3 days. They are knowledgeable and experienced. They guided and supported us in all the processes of house sale from start to end like cleaning, repairs, staging, moving, etc. If you are looking for a hassle-free sale of your property, they are the best!"
"Kevin and Marisa sold our house in 3 days. They are knowledgeable and experienced. They guided and supported us in all the processes of house sale from start to end like cleaning, repairs, staging, moving, etc. If you are looking for a hassle-free sale of your property, they are the best!"
Poonam G.
"Our house was sold over asking in 3 days. Thanks to Kelvin and Marisa's team. After we had our initial meeting with Kelvin and Marisa, they knew exactly what we need, everything goes so smoothly. Their expertise, professionalism, and efficiency made the whole process quick and smooth. Kelvin and Marisa are very responsive to our questions and concerns. We are so happy they sold our house for more than we expect in this tough market. We will not hesitate to have Kelvin and Marisa as our agents for our future transactions."
"Our house was sold over asking in 3 days. Thanks to Kelvin and Marisa's team. After we had our initial meeting with Kelvin and Marisa, they knew exactly what we need, everything goes so smoothly. Their expertise, professionalism, and efficiency made the whole process quick and smooth. Kelvin and Marisa are very responsive to our questions and concerns. We are so happy they sold our house for more than we expect in this tough market. We will not hesitate to have Kelvin and Marisa as our agents for our future transactions."
Janice W.
"I really want to thank Kevin Lin’s team for making the selling and buying process so smooth for me. This team deserves 10 stars. Kevin and Marisa were there every step of the way during the whole process. The team was extremely responsive to all my questions and concerns. In this tough market, they were able to literally list and sell my house within the same day, while other houses in the area were listed for months. Both Kevin and Marisa are very professional and knowledgeable. They set realistic expectations and they know exactly what to do to get the job done. Most important of all they care about you as a client. They were never pushy and always open taking your input. 100% I will be using them again if I need to buy or sell."
"I really want to thank Kevin Lin’s team for making the selling and buying process so smooth for me. This team deserves 10 stars. Kevin and Marisa were there every step of the way during the whole process. The team was extremely responsive to all my questions and concerns. In this tough market, they were able to literally list and sell my house within the same day, while other houses in the area were listed for months. Both Kevin and Marisa are very professional and knowledgeable. They set realistic expectations and they know exactly what to do to get the job done. Most important of all they care about you as a client. They were never pushy and always open taking your input. 100% I will be using them again if I need to buy or sell."
Mona P.
"Marisa and Kevin are an exceptional team! Their professionalism, dedication, and attention to detail are unmatched. They consistently go above and beyond to deliver outstanding results, making the entire process seamless and stress-free. We will be using them again."
"Marisa and Kevin are an exceptional team! Their professionalism, dedication, and attention to detail are unmatched. They consistently go above and beyond to deliver outstanding results, making the entire process seamless and stress-free. We will be using them again."
Knek K.
"I am so grateful for the Kevin Lin team! I put my apartment up for lease and the entire process was seamlessly done and handled with care. I couldn’t be happier! I’m extremely satisfied and thank Marisa Lin, for all her hard work and keeping me informed along the way. I will certainly recommend to anyone selling or leasing their property. Five stars!"
"I am so grateful for the Kevin Lin team! I put my apartment up for lease and the entire process was seamlessly done and handled with care. I couldn’t be happier! I’m extremely satisfied and thank Marisa Lin, for all her hard work and keeping me informed along the way. I will certainly recommend to anyone selling or leasing their property. Five stars!"
Monica

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