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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.

Passion & Expertise

My goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. I am 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!). 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

Success Stories

"David was an absolute pleasure to work with. He is extremely patient, very well-organized and on top of every step in the process. During my search, there were zero homes for sale in the area I wanted to live in and Dave found an off-market home here in Bressi Ranch which had everything I was looking for. This is the 7th home I have purchased and I can tell you this was the smoothest transaction I have experienced to date."
"David was an absolute pleasure to work with. He is extremely patient, very well-organized and on top of every step in the process. During my search, there were zero homes for sale in the area I wanted to live in and Dave found an off-market home here in Bressi Ranch which had everything I was looking for. This is the 7th home I have purchased and I can tell you this was the smoothest transaction I have experienced to date."
Cliff
"Mr. Taxer helped us purchase our first home in Carlsbad. He was very familiar with the area and a good resource. As a first time home buyer there are a lot of unknowns and he helped us navigate the process."
"Mr. Taxer helped us purchase our first home in Carlsbad. He was very familiar with the area and a good resource. As a first time home buyer there are a lot of unknowns and he helped us navigate the process."
Danielle
"Dave is awesome! He consistently over-delivered on his commitments to help me sell my house. He was key in getting contractors, estimates, all inspections, and yes buyers, lots of buyers! He’s professional, courteous, down to Earth, and genuinely cares about his clients and what they want to achieve. Dave Taxer is a pleasure to work with and I will be using his expertise when I buy my next home!Oh yeah, he also brought a full-price offer which was accepted in under 1 week! Thanks, Dave! Aloha!"
"Dave is awesome! He consistently over-delivered on his commitments to help me sell my house. He was key in getting contractors, estimates, all inspections, and yes buyers, lots of buyers! He’s professional, courteous, down to Earth, and genuinely cares about his clients and what they want to achieve. Dave Taxer is a pleasure to work with and I will be using his expertise when I buy my next home!Oh yeah, he also brought a full-price offer which was accepted in under 1 week! Thanks, Dave! Aloha!"
Scott
"David Taxer Properties was awesome through the whole process. We listed and sold our house in 1 week. He priced it right and we got over our asking price. He is super efficient and a hard worker. Anyone would be lucky to have him. We will be using David for our future transactions. "
"David Taxer Properties was awesome through the whole process. We listed and sold our house in 1 week. He priced it right and we got over our asking price. He is super efficient and a hard worker. Anyone would be lucky to have him. We will be using David for our future transactions. "
Tim
"I have known David Taxer for 30 years. We worked together back in the day. We have stayed in contact and I recently had the easy choice of using him as our realtor. He sold my father in laws home in 48 hours 15% over asking price. Every step of the way he made it very easy for my wife during a time when dealing with the death of her father and all the stuff that is involved, he made in seamless. I will highly recommend him to anyone I know that is buying or selling a home."
"I have known David Taxer for 30 years. We worked together back in the day. We have stayed in contact and I recently had the easy choice of using him as our realtor. He sold my father in laws home in 48 hours 15% over asking price. Every step of the way he made it very easy for my wife during a time when dealing with the death of her father and all the stuff that is involved, he made in seamless. I will highly recommend him to anyone I know that is buying or selling a home."
J.R.
"David was referred to us by an agent in the bay area. Upon meeting him that first time we knew that he was the right choice. He brought my son a children’s book, the Bernstein Bears moving day. That was very thoughtful. Our situation was unique & had many obstacles. What was amazing was that in 1 weeks time David went to work. When he first toured our home that we hadn’t seen in over a year, it was a mess due to the renters. Mr. Taxer had junk removal coming the next day & things went in motion. That day was a Friday, he had the junk removed, handyman, painter, professional photography, and staging all done in less than a week. We went to market & we had multiple offers & decided on one $71,000 over asking. He’s our agent moving forward & we will refer him to friends & family."
"David was referred to us by an agent in the bay area. Upon meeting him that first time we knew that he was the right choice. He brought my son a children’s book, the Bernstein Bears moving day. That was very thoughtful. Our situation was unique & had many obstacles. What was amazing was that in 1 weeks time David went to work. When he first toured our home that we hadn’t seen in over a year, it was a mess due to the renters. Mr. Taxer had junk removal coming the next day & things went in motion. That day was a Friday, he had the junk removed, handyman, painter, professional photography, and staging all done in less than a week. We went to market & we had multiple offers & decided on one $71,000 over asking. He’s our agent moving forward & we will refer him to friends & family."
Coleen

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