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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 Us

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. 

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Testimonials

Read what our clients have to say about working with us.

"I don’t normally do reviews but Eric, what can we say, but a huge thank you! I’d give you 10 stars if I could ! My husband Nigel and I have moved many times, not just here in the USA but other countries too and Eric is the best realtor we have ever had and I don’t say that lightly. Eric was always very responsive, and communicated with us all the way through the process, he is very knowledgeable and was able to answer all of our many questions. Nothing was too much trouble. He did a fantastic job, and went above and beyond for us. We really can’t thank you enough. I definitely have no hesitation recommending Eric to family or friends, or anyone you honestly couldn’t get a better realtor. He is definitely the best of the best, a great guy. Give Eric a ring, you won’t regret it! Many thanks once again, Diane & Nigel Hobson"
"I don’t normally do reviews but Eric, what can we say, but a huge thank you! I’d give you 10 stars if I could ! My husband Nigel and I have moved many times, not just here in the USA but other countries too and Eric is the best realtor we have ever had and I don’t say that lightly. Eric was always very responsive, and communicated with us all the way through the process, he is very knowledgeable and was able to answer all of our many questions. Nothing was too much trouble. He did a fantastic job, and went above and beyond for us. We really can’t thank you enough. I definitely have no hesitation recommending Eric to family or friends, or anyone you honestly couldn’t get a better realtor. He is definitely the best of the best, a great guy. Give Eric a ring, you won’t regret it! Many thanks once again, Diane & Nigel Hobson"
Diane H.
"We cant say enough about Erik and Cambridge! From start to finish he was right by our side. Answered every phone call, explained every step in the process. Thank you Erik for everything! Kelly and Ronny"
"We cant say enough about Erik and Cambridge! From start to finish he was right by our side. Answered every phone call, explained every step in the process. Thank you Erik for everything! Kelly and Ronny"
Kelly E.
"Erik is awesome to work with. With his 30+ years of experience he is very knowledgeable and pays attention to detail. He cares for his clients and takes the time to explain every step in detail, always making himself available for a call or text. He made our process as painless as possible and we truly appreciate all his hard work"
"Erik is awesome to work with. With his 30+ years of experience he is very knowledgeable and pays attention to detail. He cares for his clients and takes the time to explain every step in detail, always making himself available for a call or text. He made our process as painless as possible and we truly appreciate all his hard work"
Denise R.
"Eric was an amazing realtor to work with. He came to our home months before we were ready to list and gave us very helpful recommendations to help us get top dollar for our home. He was available to us 24/7, every text/email was returned promptly and his experience with our neighborhood in particular was priceless. When it came time to choose a buyer he basically held our hands through the process and made it as easy and stress free as possible. His knowledge of all the fun paperwork/negotiations and just pure integrity was evident in everything he did. My children and animals were even excited to see him when he would come visit! I would recommend Eric Sellfors and Cambridge Homes to all my family and friends."
"Eric was an amazing realtor to work with. He came to our home months before we were ready to list and gave us very helpful recommendations to help us get top dollar for our home. He was available to us 24/7, every text/email was returned promptly and his experience with our neighborhood in particular was priceless. When it came time to choose a buyer he basically held our hands through the process and made it as easy and stress free as possible. His knowledge of all the fun paperwork/negotiations and just pure integrity was evident in everything he did. My children and animals were even excited to see him when he would come visit! I would recommend Eric Sellfors and Cambridge Homes to all my family and friends."
Guinevere M.
"Erik is an absolute pleasure to do business with. He is the hardest working real estate agent I've ever met. Erik was referred to me by a friend and I'm so grateful for the reference. His communication skills, professionalism, honesty, enthusiasm, attention to detail are just a few of his attributes he delivers. He listed and sold my home in less than 30 days in the Texas track in Simi Valley. Erik I can't thank you enough for your outstanding service. I highly recommend Erik for anyone's real estate needs.”"
"Erik is an absolute pleasure to do business with. He is the hardest working real estate agent I've ever met. Erik was referred to me by a friend and I'm so grateful for the reference. His communication skills, professionalism, honesty, enthusiasm, attention to detail are just a few of his attributes he delivers. He listed and sold my home in less than 30 days in the Texas track in Simi Valley. Erik I can't thank you enough for your outstanding service. I highly recommend Erik for anyone's real estate needs.”"
Lou B.
"Erik and I have been doing business for years. The Simi Valley Community salutes you for all of your hard work and efforts making so many dreams come true when buying and selling real estate. Everyone in this community knows you are a trusted local professional. I personally would recommend my close friends and family to come to you with all of their real estate needs."
"Erik and I have been doing business for years. The Simi Valley Community salutes you for all of your hard work and efforts making so many dreams come true when buying and selling real estate. Everyone in this community knows you are a trusted local professional. I personally would recommend my close friends and family to come to you with all of their real estate needs."
Buyer & Seller

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