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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. 

See Why Our Clients Love Us

Testimonials

"She was always ready and willing to guide us thru the entire selling Process. Being from another state, we had so many questions. She made herself available to make sure our house was presentable For viewings. We live 165 miles away and this saved us time and gas. She can be trusted to give you “truthful “ answers that are so appreciated when an offer is made. We most definitely would use her again if the need arises. She’s Great!"
"She was always ready and willing to guide us thru the entire selling Process. Being from another state, we had so many questions. She made herself available to make sure our house was presentable For viewings. We live 165 miles away and this saved us time and gas. She can be trusted to give you “truthful “ answers that are so appreciated when an offer is made. We most definitely would use her again if the need arises. She’s Great!"
Sylvia C.
"If I needed to buy or sell a home, I would use Leslie. She helped us sell our home in a timely manner. She made the whole process so easy. Leslie was very knowledgeable, so helpful, readily available and gave the most excellent advice. Because we were doing this sale from a long distance she kept us up-to-date and well informed. I highly recommend her."
"If I needed to buy or sell a home, I would use Leslie. She helped us sell our home in a timely manner. She made the whole process so easy. Leslie was very knowledgeable, so helpful, readily available and gave the most excellent advice. Because we were doing this sale from a long distance she kept us up-to-date and well informed. I highly recommend her."
Sheila M.
"Leslie was outstanding in helping us find the right property for us on Fripp and was patient with us while we looked at just about every property in our price range. She was extremely helpful after the sell as well."
"Leslie was outstanding in helping us find the right property for us on Fripp and was patient with us while we looked at just about every property in our price range. She was extremely helpful after the sell as well."
Buyer
"Recently purchased a home with leslie as my agent. She was professional and was very helpful in giving me names of contractors and trades people that have helped bring my home to a very successful conclusion. I highly recommend her to others wanting someone who will go the extra mile for her clients. Thank you, Leslie!"
"Recently purchased a home with leslie as my agent. She was professional and was very helpful in giving me names of contractors and trades people that have helped bring my home to a very successful conclusion. I highly recommend her to others wanting someone who will go the extra mile for her clients. Thank you, Leslie!"
Buyer
"We luckily met Leslie through Fripp Island Real Estate. It was the luck of the draw and I can't say enough positive things about Leslie. She worked very hard to find us a home that was perfect for us and helped us each step of the way. She had our best interest in mind and we now consider her a dear friend! She went over and beyond. I would recommend Leslie as a real estate agent! She doesn't pressure you in any way but works diligently to find the home of your dreams!"
"We luckily met Leslie through Fripp Island Real Estate. It was the luck of the draw and I can't say enough positive things about Leslie. She worked very hard to find us a home that was perfect for us and helped us each step of the way. She had our best interest in mind and we now consider her a dear friend! She went over and beyond. I would recommend Leslie as a real estate agent! She doesn't pressure you in any way but works diligently to find the home of your dreams!"
Patt O.
"We recently purchased a vacation home on Fripp Island in July. We live four hours away and Leslie helped us with every aspect of this purchase. We can’t say enough about her thoroughness, helping us get in contact with the right people, answering our many questions, and staying on top of things when it looked like our bank was not going to close on time. It was a joy to have her as our real estate agent and someone who we felt we could call long after our purchase had been made. Would highly recommend it!"
"We recently purchased a vacation home on Fripp Island in July. We live four hours away and Leslie helped us with every aspect of this purchase. We can’t say enough about her thoroughness, helping us get in contact with the right people, answering our many questions, and staying on top of things when it looked like our bank was not going to close on time. It was a joy to have her as our real estate agent and someone who we felt we could call long after our purchase had been made. Would highly recommend it!"
Loris S.
"We recently purchased a condo on Fripp Island and Leslie couldn’t have been more helpful! We are so grateful she was recommended to us by a friend. She was extremely responsive to texts and emails and very thorough. This was a second home purchase so much of what we needed to do was long distance. She was super helpful and conscientious. We highly recommend Leslie and had a wonderful experience with her!"
"We recently purchased a condo on Fripp Island and Leslie couldn’t have been more helpful! We are so grateful she was recommended to us by a friend. She was extremely responsive to texts and emails and very thorough. This was a second home purchase so much of what we needed to do was long distance. She was super helpful and conscientious. We highly recommend Leslie and had a wonderful experience with her!"
Meredith N.
"Leslie Mitchell was helpful, knowledgeable, and accessible. When we called or texted, she responded quickly. She stayed with us through the entire process and recommended people to help with electrical, plumbing, and maintenance for the house. We have remained in contact with Leslie, and she continues to help us get acclimated to the area, suggesting local places to purchase furniture, home items, and golf carts. She has gone above and beyond her duties, and we appreciate everything she has done for us."
"Leslie Mitchell was helpful, knowledgeable, and accessible. When we called or texted, she responded quickly. She stayed with us through the entire process and recommended people to help with electrical, plumbing, and maintenance for the house. We have remained in contact with Leslie, and she continues to help us get acclimated to the area, suggesting local places to purchase furniture, home items, and golf carts. She has gone above and beyond her duties, and we appreciate everything she has done for us."
JK W.
"Leslie helped my husband and I find our dream home on Fripp Island. This is a second home for us and Leslie made the process flow smoothly with us being out of town. She was knowledgeable, professional, and very dedicated to her customers. In addition to helping us purchase the home, she has gone above and beyond with helping us coordinate/find people to help us with necessary repairs. I would highly recommend Leslie to anyone looking to purchase a home on Fripp Island."
"Leslie helped my husband and I find our dream home on Fripp Island. This is a second home for us and Leslie made the process flow smoothly with us being out of town. She was knowledgeable, professional, and very dedicated to her customers. In addition to helping us purchase the home, she has gone above and beyond with helping us coordinate/find people to help us with necessary repairs. I would highly recommend Leslie to anyone looking to purchase a home on Fripp Island."
Heather F.
"Leslie was wonderful. So helpful, and knowledgeable and showed us several properties to compare. She was very responsive and answered all of our questions or found out the answers for us. We'd highly recommend!"
"Leslie was wonderful. So helpful, and knowledgeable and showed us several properties to compare. She was very responsive and answered all of our questions or found out the answers for us. We'd highly recommend!"
Ann F.
"We had an excellent experience using Leslie Mitchell and Heather Fortson as our real estate agents this past year. They both went over and beyond the call of duty, working well as a team, saving us time and money in all aspects of the search and purchase of our new home."
"We had an excellent experience using Leslie Mitchell and Heather Fortson as our real estate agents this past year. They both went over and beyond the call of duty, working well as a team, saving us time and money in all aspects of the search and purchase of our new home."
Kim
"I have been personally involved in well over a hundred real estate “deals" in the past 50 years. This purchase, from the first text to Heather, through closing, has to be the smoothest transaction I have ever made! After finding a lot that sparked my interest, I contacted Heather and asked her to look into the details. After a very short period of time, she was back in touch with everything I needed in order to make an offer. She proposed the offer and the seller accepted. Heather was quick to accurately act and react in all efforts during the process. Due to a “1031 exchange" deadline, we had to close within a month. Heather handled all communications with the other realtor involved, the attorney (recommended by her), and the other Fripp entities, which made my involvement simple. Everything that had to be done was done and “closed” in less than 30 days! I will highly recommend Heather and for sure use her services for any of our coastal real estate dreams."
"I have been personally involved in well over a hundred real estate “deals" in the past 50 years. This purchase, from the first text to Heather, through closing, has to be the smoothest transaction I have ever made! After finding a lot that sparked my interest, I contacted Heather and asked her to look into the details. After a very short period of time, she was back in touch with everything I needed in order to make an offer. She proposed the offer and the seller accepted. Heather was quick to accurately act and react in all efforts during the process. Due to a “1031 exchange" deadline, we had to close within a month. Heather handled all communications with the other realtor involved, the attorney (recommended by her), and the other Fripp entities, which made my involvement simple. Everything that had to be done was done and “closed” in less than 30 days! I will highly recommend Heather and for sure use her services for any of our coastal real estate dreams."
B. Ward Kellett
"Heather and Leslie were fantastic to work with. As island locals, they were invaluable during the process. They were able to seamlessly communicate the ins and outs of the island as well as provide comparable market estimates with ease. I highly recommend them for your Fripp Island real estate needs”"
"Heather and Leslie were fantastic to work with. As island locals, they were invaluable during the process. They were able to seamlessly communicate the ins and outs of the island as well as provide comparable market estimates with ease. I highly recommend them for your Fripp Island real estate needs”"
Hillary
"When our family decided it was time to seriously look at buying a home on Fripp Island, we were fortunate to connect with Leslie Mitchell. She was so responsive and professional. We learned of a home that went on the market the Thursday before a holiday weekend. We travelled to Fripp on Friday and Leslie showed us the home twice over the weekend. We made a successful offer promptly and headed into closing. The amount to paperwork and detailed issues for a closing can be daunting! Leslie was super helpful to us over this process. Her knowledge, experience and grace helped us glide through this process so smoothly. She was able to negotiate and resolve the bumps in the pathway with professional calm. We are thankful for her help and feel lucky to have had her on our side."
"When our family decided it was time to seriously look at buying a home on Fripp Island, we were fortunate to connect with Leslie Mitchell. She was so responsive and professional. We learned of a home that went on the market the Thursday before a holiday weekend. We travelled to Fripp on Friday and Leslie showed us the home twice over the weekend. We made a successful offer promptly and headed into closing. The amount to paperwork and detailed issues for a closing can be daunting! Leslie was super helpful to us over this process. Her knowledge, experience and grace helped us glide through this process so smoothly. She was able to negotiate and resolve the bumps in the pathway with professional calm. We are thankful for her help and feel lucky to have had her on our side."
Kathie and Steve M.

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