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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 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, and 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. 

Testimonials

"I really enjoyed working with Valerie, Greg, and her team on the sale of our University City home in San Diego. We decided to work with Valerie, Greg, and her team due to the sales strategy she uses and the genuine care she has for her customers. Valerie, Greg, and her team kept us informed every step of the way as they executed their strategy utilizing state-of-the-art technologies and staging to market our home. We are very pleased with the outcome and highly recommend Valerie, Greg and her team for the sale or purchase of real-estate."
"I really enjoyed working with Valerie, Greg, and her team on the sale of our University City home in San Diego. We decided to work with Valerie, Greg, and her team due to the sales strategy she uses and the genuine care she has for her customers. Valerie, Greg, and her team kept us informed every step of the way as they executed their strategy utilizing state-of-the-art technologies and staging to market our home. We are very pleased with the outcome and highly recommend Valerie, Greg and her team for the sale or purchase of real-estate."
Fred C.
"As first-time home buyers in the challenging market of San Diego, we could not have asked for a better real estate agent to guide us through finding our home and ensuring escrow went smoothly. Greg's expertise, responsiveness, patience, and warm nature were invaluable during this process. His networking and connections among other agents in the San Diego area also gave us the upper hand in closing on an amazing house in a competitive market. We are so happy we found Greg and could not recommend him and his team more."
"As first-time home buyers in the challenging market of San Diego, we could not have asked for a better real estate agent to guide us through finding our home and ensuring escrow went smoothly. Greg's expertise, responsiveness, patience, and warm nature were invaluable during this process. His networking and connections among other agents in the San Diego area also gave us the upper hand in closing on an amazing house in a competitive market. We are so happy we found Greg and could not recommend him and his team more."
Janette N.
"Greg helped get me into a great place at UC! He's very personable, attentive, and knowledgeable - smooth sailing the whole way, especially for a first-time home buyer!"
"Greg helped get me into a great place at UC! He's very personable, attentive, and knowledgeable - smooth sailing the whole way, especially for a first-time home buyer!"
Michael
"Greg was absolutely amazing to work with! We were lucky enough to be referred to Greg by a friend. The first time previewed the property with Greg he was very professional and educated us on the area and the pros and cons of each area. The San Diego coastal market is very competitive, Greg found a house that checked all the boxes and had been on the market for 4 days. This house received 8 offers, and with Greg's guidance, he helped us strategize to be the chosen offer. Greg communicated throughout the transaction; we always knew what was going on. We were not local so during the transaction Greg met and invested his time with all the different inspectors. Even after the transaction was completed, Greg helped us settle in. We feel we can call Greg a friend now, he truly is one of the best realtors we have had the privilege of working with. He is hard-working, compassionate, and thorough. Greg is a 5-star realtor."
"Greg was absolutely amazing to work with! We were lucky enough to be referred to Greg by a friend. The first time previewed the property with Greg he was very professional and educated us on the area and the pros and cons of each area. The San Diego coastal market is very competitive, Greg found a house that checked all the boxes and had been on the market for 4 days. This house received 8 offers, and with Greg's guidance, he helped us strategize to be the chosen offer. Greg communicated throughout the transaction; we always knew what was going on. We were not local so during the transaction Greg met and invested his time with all the different inspectors. Even after the transaction was completed, Greg helped us settle in. We feel we can call Greg a friend now, he truly is one of the best realtors we have had the privilege of working with. He is hard-working, compassionate, and thorough. Greg is a 5-star realtor."
Cristi D.
"Greg Bergen was an excellent real estate agent for us when we purchased our property. Greg was super helpful, really eager to help, and did a ton of research for us. Greg, along with everyone on the Compass team, really supports their clients and you quickly realize you have a valued partner throughout the process. Greg is detail-oriented, an engaged listener, and really knowledgeable. Greg was always accessible and always adding value throughout the long process. Greg was fantastic and we highly recommend him."
"Greg Bergen was an excellent real estate agent for us when we purchased our property. Greg was super helpful, really eager to help, and did a ton of research for us. Greg, along with everyone on the Compass team, really supports their clients and you quickly realize you have a valued partner throughout the process. Greg is detail-oriented, an engaged listener, and really knowledgeable. Greg was always accessible and always adding value throughout the long process. Greg was fantastic and we highly recommend him."
Peter O.
"When we met Greg at an Open House, we connected with him and decided to reach out to see if he would be interested in taking us on as new clients. The first meeting when he shared what he had to offer was straightforward, personable, and professional. Greg made the house viewing process fun and seamless. We thoroughly enjoyed getting to know him. Greg is truly knowledgeable about many neighborhoods as we looked all over SD- Del Cerro, San Carlos, Scripps Ranch, South Park, Mission Hills, Clairemont, Bay Ho, before finally finding our home in Bay Park. He made the closing process easy and made many visits to the property to ensure things were going accordingly with the inspection and with getting renovation quotes. We highly recommend Greg and would happily work with him again!"
"When we met Greg at an Open House, we connected with him and decided to reach out to see if he would be interested in taking us on as new clients. The first meeting when he shared what he had to offer was straightforward, personable, and professional. Greg made the house viewing process fun and seamless. We thoroughly enjoyed getting to know him. Greg is truly knowledgeable about many neighborhoods as we looked all over SD- Del Cerro, San Carlos, Scripps Ranch, South Park, Mission Hills, Clairemont, Bay Ho, before finally finding our home in Bay Park. He made the closing process easy and made many visits to the property to ensure things were going accordingly with the inspection and with getting renovation quotes. We highly recommend Greg and would happily work with him again!"
David P.
"My husband and I recently purchased a condo, and Greg showed great attention to detail throughout the process. Greg was always available to answer questions we had, was very patient, was knowledgeable, and was very transparent during the transaction. We would highly recommend working with Greg as the customer service/experience was excellent; you would be in great hands throughout your house hunt! Thank you for all your work, Greg!"
"My husband and I recently purchased a condo, and Greg showed great attention to detail throughout the process. Greg was always available to answer questions we had, was very patient, was knowledgeable, and was very transparent during the transaction. We would highly recommend working with Greg as the customer service/experience was excellent; you would be in great hands throughout your house hunt! Thank you for all your work, Greg!"
Ericka A.
"Greg and Valerie were top-notch in our recent purchase. We had a difficult transaction with a sale in another state and a purchase in a new state. They not only helped to provide feedback and support on our purchase but also worked directly with the selling realtor in another state. In addition, their great reputation and strong results proved a great purchase price, easy transactions, and fantastic connections to vendors, banks, escrow firms, and more. We are incredibly grateful for their partnership and will continue to use them in the future. We highly recommend Greg who has become a lifelong friend for us!"
"Greg and Valerie were top-notch in our recent purchase. We had a difficult transaction with a sale in another state and a purchase in a new state. They not only helped to provide feedback and support on our purchase but also worked directly with the selling realtor in another state. In addition, their great reputation and strong results proved a great purchase price, easy transactions, and fantastic connections to vendors, banks, escrow firms, and more. We are incredibly grateful for their partnership and will continue to use them in the future. We highly recommend Greg who has become a lifelong friend for us!"
Tessi D.
"Greg was superb in all facets of selling three homes for us. He is smart, enthusiastic, efficient, and a pleasure to work with. The process was smooth and easy. The listing was high quality and the homes sold quickly. I only had to visit the homes one time during the entire process! Quick and painless. I trust Greg and his team! Thanks!"
"Greg was superb in all facets of selling three homes for us. He is smart, enthusiastic, efficient, and a pleasure to work with. The process was smooth and easy. The listing was high quality and the homes sold quickly. I only had to visit the homes one time during the entire process! Quick and painless. I trust Greg and his team! Thanks!"
Matthew B.
"Greg was absolutely amazing to work with! We were lucky enough to be referred to Greg by a friend. The first-time previewing property with Greg, he was very professional and educated us on the area and the pros and cons of each area. The San Diego coastal market is extremely competitive, Greg found a house that checked all the boxes and had been on the market for 4 days. This house received eight offers, and with Gregs guidance, he helped us strategize to be the chosen offer. Greg communicated throughout the transaction; we always knew what was going on. We were not local so during the transaction Greg met and invested his time with all the different inspectors. Even after the transaction was completed, Greg helped us settle in. We feel we can call Greg a friend now, he truly is one of the best realtors we have had the privilege of working with. He is hard working, compassionate, and thorough. Greg is a 5-star realtor."
"Greg was absolutely amazing to work with! We were lucky enough to be referred to Greg by a friend. The first-time previewing property with Greg, he was very professional and educated us on the area and the pros and cons of each area. The San Diego coastal market is extremely competitive, Greg found a house that checked all the boxes and had been on the market for 4 days. This house received eight offers, and with Gregs guidance, he helped us strategize to be the chosen offer. Greg communicated throughout the transaction; we always knew what was going on. We were not local so during the transaction Greg met and invested his time with all the different inspectors. Even after the transaction was completed, Greg helped us settle in. We feel we can call Greg a friend now, he truly is one of the best realtors we have had the privilege of working with. He is hard working, compassionate, and thorough. Greg is a 5-star realtor."
Cristi D.

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Greg is a solution-oriented individual with a keen sense of what works best in our ever-changing Real Estate environment.

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