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10 Steps to Buying a Home

Thinking of buying a home in Sarasota & the Keys, Sarasota barrier islands? Make sure you know what to expect - whether you're a first-time buyer or a real estate aficionado. Here are the steps you need to know for buying a home.


Step 1: Figure Out What You Can Afford

Determine what you'll be able to afford in mortgage payments each month, as well as what you can invest initially as a down payment. This handy mortgage calculator can help you estimate your monthly payments.

Keep in mind additional costs like closing costs, fees, homeowners insurance, and taxes will all add to the overall costs. Be sure to check your credit score, and remember that just because you don't have a traditional 20% down payment doesn't mean you can't buy a home!


Step 2: Shop for a Loan and Get Preapproved

Finding a trustworthy lender and determining what type of loan you'll qualify for will help you figure out how much home you can actually afford. We can provide you with a list of lenders we have used in the past with satisfaction.  You can also check with the Better Business Bureau.  It's wise to talk to at least three or four lenders before making a decision.

Need recommendations for lenders in Sarasota, Longboat Key, Bird Key, Siesta Key, Lido Key, Anna Maria, Casey Key, and St. Armands Circle? Just ask us!


Step 3: Determine the Selling Price of Homes in Your Location

If you have a preferred location or neighborhood, we can provide you with the actual selling price of homes in that area - not just their listing price—to confirm whether you can actually afford that location.

Have a particular neighborhood in Sarasota & its barrier islands that you'd like to check? Request your neighborhood sold report here!


Step 4: Find an Agent

It is extremely recommended that you work wit an agent unless you are a highly experienced buyer or lawyer. We are real estate experts in this area and its neighborhoods, and very proficient in working with buyers of your experience.  We'll work hard to earn your trust.  Find out more about our experience and how we can help you buy a home!


Step 5: Find Your Home

This is the fun part, where you get to hone in on your perfect dream home! We will simplify the process by making appointments when it's convenient for you and will encourage you to keep detailed records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Taking pictures can also keep your memory fresh.

Buying a home in Sarasota & the Keys, Sarasota barrier islands? Start searching for your dream home today!


Step 6: Make an Offer

When you find your favorite home, we'll provide recent comps to help you determine a competitive but reasonable offering price that is comfortable within your price range but competitive enough that it won't cause the seller to immediately reject your offer.


Step 7: Get an Inspection

Nothing's finalized yet, so we'll make sure you're getting your money's worth! We can provide you with a list of trusted home inspectors, to walk through the house, and check for any potential defects or problems. If necessary, we can help you request that the sellers repair any issues you might find.


Step 8: Review Your Contract

Before you sign any paperwork, it's important that you carefully read over the contract or have an attorney review it with you.  We can provide you with a list of attorneys we have used in the past, with satisfaction.  There are contingencies that can protect you, especially if something falls through with your mortgage.


Step 9: Finalize Your Mortgage Approval

We can help you work with your chosen lender to submit your mortgage application, review predicted closing costs, and have your home appraised. Common closing costs include attorney fees, title insurance, appraisal fees, home inspection fees, courier fees, government recording fees, and taxes.


Step 10: Close and Pay

It's time to close! We'll be at the closing table with you, your lender, and the seller, to help you finalize the paperwork,  Once you sign your contracts, pay your down payment and closing costs, you'll be handed the keys to your new home!

Still Have Questions or Ready to Get Started?

If you're thinking of buying a home in Sarasota & the Keys (Sarasota barrier islands), then it's time to contact Melba & Norma, "Your Results Team". We're your local real estate experts. Not only can we answer all your buying questions, we can help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources we have to offer.

Home Buying Resources for Sarasota & the Keys, Sarasota barrier islands