Oklahoma City Home Buyers 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.

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.

Our 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!). 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.

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.

Client Stories & Experiences

Buddy F.

I was skeptical about using a realtor to sell my house. I heard everyone talking about how easy For Sale By Owner was but given my limited knowledge of the market and the hype everyone was spewing, I was confused. I met Christi...

Anthony A.

She listed and sold my house in less than two days. She was fully engaged with the entire process of staging the home up to closing the sale. Professional, honest and courteous. She also helped me with purchasing a home recently.

Ben C.

Serving as our realtor, Christie Davis has been part of our home buying and selling experiences for the past 5 years. I cannot imagine using a different realtor as she has always worked non stop to get us the deals we wanted. F...

Heather M.

The Davis Group is outstanding to work with. We have bought and sold several homes with the Davis Group. Turn key process and stress free. They listen to your needs, find what you are looking for and more. We highly recommend t...

Barry H.

Christie Davis was very diligent with contacting me for over a year while my wife and I were searching for our retirement home. That diligence is what convinced me she was the right realtor for us to sell our home after finding...

Jackie S.

I truly cannot imagine a purchase and a sale of homes going any smoother! Christie Davis was amazing to work with, she listened to my wants and needs and worked to fulfill them. She was patient, kind and supportive. I NEVER fel...

Shelby B.

Christie and Russell were absolutely AMAZING while we were trying to find our dream home. They are knowledgeable about every area, and give you all the information. This was our first time buying a home and I couldn’t imagine d...

Amy S.

Christie Davis has been our realtor for over 8 yrs. She assisted my husband and I in purchasing our very first home. We weren’t the easiest to work with, purchasing the perfect home can be very stressful but she was so patient ...

Barry H.

Christie Davis was very diligent with contacting me for over a year while my wife and I were searching for our retirement home. That diligence is what convinced me she was the right realtor for us to sell our home after finding...

James W.

Can’t thank these guys enough! Found us our forever home! Forever grateful!

Robert P.

You won't find better realtors! Wonderful people and great at what they do.

Barbara S.

Christie is the greatest. I just love her. She helped me get into my forever home. She worked with me for a long time to get the perfect one.

Shanna H.

Loved looking at houses with these guys. Always ready to help out.

Tasia C.

I literally cannot say enough great things about this amazing team! They're reliable, professional, and personable. Christie and Russell helped me sell my first home and buy my current home. I won't use anyone else!

Dwain W.

Both Christie and Russell were awesome to work with, even going as far as to help me find a good realtor to help sell my home in another state. I highly recommend them. 100%.

Kylee R.

Christie was amazing in helping us find our dream home. She really listened to what we wanted and when we were stuck trying to decide between two different houses, she asked what we liked about each and found us a house that wa...

Sean W.

I can’t recommend Christie more! She went above and beyond providing guidance and knowledge from start to finish. Her willingness to negotiate, track down answers, and get through the process calmly is second to none. I truly a...

Amanda M.

Christie and Russell know what they’re doing! My husband and I have bought two homes with their assistance and expertise. I highly recommend them to anyone who is buying or selling a house.

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Buyer's Guide