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 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. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.

OUR 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. 

Our Testimonials

Alexandra G.

Alexandra G.

Jessica is the best. She helped make our Tahoe dream home a reality. Thanks, everyone on the team.
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Jared A.

Jared A.

Jessica helped us purchase our vacation home in Truckee. She was referred to us by friends and we could not have been more thankful. She is a great agent.
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Aaron A.

Aaron A.

As usual, Jessica and the Team were very helpful in making our real estate transaction stress free and successful. We will continue to use them for our real estate needs.
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Coleen & Sash H.

Coleen & Sash H.

Jessica made our experience of selling our vacation home effortless. She quickly answered all our questions during the entire process and brought us multiple offers. We would definitely use her again.
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Peter & Dawn B.

Peter & Dawn B.

Jessica was very attentive and we never felt rushed at any time during the sale of our property. She had a very good understanding of what the fair price of the property was. We were referred to Jessica by a personal friend.
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Katina V.

Katina V.

Megan, you were such a critical element in our ability to feel comfortable in our decision to make the leap to move here and you got us into a house that is just perfect for us. You were so generous with your time. We're so gra...
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Tony & Jennifer S.

Tony & Jennifer S.

Jessica was easy to talk to, not always the case with some agents. She was very friendly and made us feel comfortable. She was the listing agent for a unit we were interested in. We stuck with her because she was very personabl...
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Terry & Tahoe D.

Terry & Tahoe D.

We could not have asked for a better real estate agent in Truckee. Jessica and her team are incredibly knowledgeable about Tahoe Donner and the entire Truckee area. They made themselves available whenever we needed to help us f...
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Justin F.

Justin F.

Megan helped us buy a home in Truckee this summer. Even though we had done a fair bit of research beforehand, Megan's advice and expertise throughout the process made the experience very smooth. We were able to close quickly an...
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Stephanie F.

Stephanie F.

My husband and I are so grateful that we found Megan. We had the best experience working with her and her team. We are in love with our home and we wouldn't have found it without the passion and dedication Megan brings to her b...
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Ginny & Dennis S.

Ginny & Dennis S.

Jessica was the best overall REALTOR we have ever worked with, and we would recommend her without hesitation. She spent countless hours cheerfully and diligently helping us find just the right second home in Tahoe Donner. She i...
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Karen & Carlos D.

Karen & Carlos D.

Jessica made the sale of our home an effortless experience. We were on vacation when the offer came in and Jessica made it so easy for us to negotiate and go into escrow without interfering with our vacation. She was absolutely...
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Tom A.

Tom A.

Truly top-notch service. Megan Evans was an incredible resource to us during our search for a place up in Truckee and was by far one of the most professional and personable real estate agents we have ever worked with. Without h...
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Ethan R.

Ethan R.

We bought our house with Megan’s representation just over two years ago in Tahoe Donner. She and her team were instrumental in narrowing down the right choices in a tight market and were great advocates during the actual sales ...
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Emily V.

Emily V.

If it weren't for Megan, there is no way we could have bought a home in this market. Megan went above and beyond to find us the perfect home and did everything she could to get an accepted offer. Once in escrow, she worked hard...
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Mike and Jessica C.

Mike and Jessica C.

We are full-time Truckee residents and were lucky enough to have Megan Evans as our agent. She did a great job getting to know us and showing us some more creative properties that fit our budget. Ultimately we wrote an offer ov...
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Lee B.

Lee B.

For anyone interested in buying or selling property in Tahoe Donner or the Truckee area, you need not look any further. Jessica is a very capable and competent REALTOR who has an excellent understanding of Truckee real estate a...
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Work With Us

For many, this lifestyle is a dream, an escape. For us, it’s our reality, and one we cannot wait to share with you. Contact us today to find out how we can be of assistance to you! Contact Jessica [email protected] (530) 448-6346 Contact Megan [email protected] (530) 448-9434

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