Ohio Home Buyers Guide | Columbus Prime Realty

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

TESTIMONIALS

Christopher T.

Frank made everything amazingly simple and easy. For someone who had no knowledge of real estate and buying a home, he walked me step by step and checked in with me often to make sure he answered any and all questions. He works...

Janel C.

As a first-time Home Buyer, we needed a Realtor who communicated well and regularly every step of the way and that is exactly what Frank did. He listened to what our needs were, had the knowledge and understanding of the housin...

Tiffany G.

My parents Mr. Nick Green and his wife Beverly Green used him in selling their home that they recently renovated. They have nothing but positive things to say about how responsive, professional, and dedicated he was. Working wi...

Dee H.

If you’re thinking about going with Frank and the team. Just do it! I promise you won’t find a harder-working or more genuine person to help your family with the home-buying process. Frank is always reachable via phone, email, ...

Amanda H.

Our family has known Frank for years. He is a great realtor and person. He is an expert at what he does and we learned so much from him. He is a trusted advisor for all his clients. He guided us through our first-time home-buyi...

Itzia J.

5 stars!

Monica H.

Was a great experience!

Robert B.

Loved working with Frank, took the time to explain everything very well and helped us find our dream home.

Joyce

Frank is fantastic to partner with. Easy going. Polite, friendly, and knows the real estate business.

Stew G.

Frank was awesome! He did comps for me. Then he and his team decided that we should go for more. The day that the listing hit was crazy with 2 over ask offers in less than 12 hours. Closed easy peasy with Frank present and runn...

Crystal A.

There are no words for this star realty team! Eight years ago his momma sold us our home. Fast forward 8 years and we need to sell due to relocation. I contacted Ms. Emily to tell her what was going on with our new adventure. S...

July S.

Let me first start off by saying he's not your average realtor. He took his time to help guide us through the home-buying process and treated us like family. Even my kids thought he was amazing and called him Uncle Frank when w...

Terri N.

Frank was amazing to work with when we sold our house! He was always quick to respond to questions and address concerns. He marketed our house beautifully and did a great job grabbing attention for our open house. Our home sold...

Maria G.

First-time homeowner, Frank and his team made this a great experience. We have a big family, and picking a forever home was not easy. He catered to our family's needs really well and had great houses to show us. We instantly fe...

Elizabeth C.

Frank was absolutely wonderful to work with. As a first-time home buyer, the process can seem really daunting and overwhelming. Frank did everything he possibly could to curb these feelings. He took all of our home requirements...

Debbie S.

Our family is so grateful we chose to work with Frank and Emily! They were so helpful every step of the way. We had previously almost bought a home with a realtor and would have really been messed over! The second experience wa...

Kevin D.

I'm very happy I had Frank Herman as my realtor! He is friendly, knowledgeable, and very responsive. He made buying my first home a much easier process. I was impressed with how he was able to find houses and get a string of sh...

Kyle H.

Frank made our home-buying process easy and understandable. He put so much effort and time into helping us find our home. He is available any time of the day! Which is so nice when you have a family and working schedule. I love...

Brian W.

Frank is a master at his craft. From the initial consultation to post-closing, he is very thorough and upfront. Frank will sit down with the buyer and listen to all of their concerns and they begin to come up with a strategy. W...

Justin H.

5-star Co-op!

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Buyer's Guide

A Step-by-Step First Time Buyer's Guide