Home Buying Guide

Before you start searching, you should determine how much you can afford with an online tool like the One Focus Realty Home Affordability Calculator. Just plug in some basic information to get an estimate of how much you can spend on a home.
Typically, your total housing payment includes:

• Fees
• Taxes
• Insurance

And should not exceed 35% of your gross (pre-tax) income, but it’s recommended to stay closer to 25%.

Save up for a down payment

A big part of your mortgage will be determined based on how much you pay upfront in the form of a down payment, which is typically 20% of the home’s final sale price, but you can certainly buy a home with less.
The higher the down payment, the better the interest rate will be.
Down payment less than 20% of the property cost will required PMI [Private Mortgage Insurance].
Speak with your agent and lender to understand your options are determine the best down payment for you.
Closing costs are fees paid at closing and usually total 2%–5% of the final sale price.

Sellers are typically more willing to accept offers from pre-approved buyers, because it shows that the buyer has the financial resources available to make good on their offer. Get quotes from multiple lenders and go with someone reliable. Read online reviews of each lender and consider their transparency, responsiveness and estimated closing time line. Apply for pre-approval. Making big purchase, while be in be approve process could negatively affect your credit score.

Real estate agents are licensed professionals who have access to information that isn’t open to the public. Buyer’s agent will be an expert on the home buying process, know your area inside and out, be familiar with local listing agents, and be a skilled negotiator.

The seller pays all Real Estate commissions in a home sale, so working with a great Real Estate agent won’t cost you a thing.

One Focus Realty Agents are paid on your review of our service—not just commission—so we’re 100% on your side and will never push for an easy sale. Plus, you can save thousands with the One Focus Realty Refund.* There’s also no obligation to buy with One Focus Realty, so you can tour as many houses as you like and if you’re just not into it. You to avoid dual agency.

Dual agency occurs when the listing agent selling a home also serves as the buyer’s agent. One Focus Realty does not allow dual agency within our brokerage. To be clear, two One Focus Realty Agents can and do represent buyers and sellers in the same transaction, but just not one individual agent. We recommend that buyers have their own representation to ensure their best interests are being met.

Self-representation: If you’re considering representing yourself without an agent, you may be at a disadvantage, especially in a competitive market. Most experienced listing agents strongly prefer buyers who have agent representation because it is the best protection for all parties involved: the agents, the buyer, and the seller.

Once you’re pre-approved and have an agent, you’re ready to look for a home. If you’re like most home buyers, you’re browsing homes for sale day and night on One Focus Realty. At this point, it’s a good idea to narrow down your search.

Determine your ideal neighborhoods, and make a list of must-haves vs. nice-to-haves. If you’re having a tough time narrowing down, speak with your Real Estate agent about what she or he thinks is realistic for your price range.

Learn how to enter your criteria and save searches on One Focus Realty so you’ll never miss a home.

How long does it take to buy a house? Take as much time and tour as many homes as you need to find the right one.

Book a tour instantly online with a local Real One Focus Realty Agent or contact your Real Estate agent to set up a tour. When you work with One Focus Realty, you can tour as many homes as you want, whenever you want.

Finding open houses on One Focus Realty

Whenever you run a search for homes, we’ll automatically label any upcoming open houses with the word “OPEN” above the home icons on the map. You can also change your search criteria to include only open houses:

Click “More Filters” near the top of the page.

Select “Open Houses” under “Include Only” in the drop-down menu.

Run your new search. Only homes with upcoming open houses will be displayed.

If you’re already working with an agent, be sure to tell the listing agent at an open house but avoid sharing any additional information that could affect negotiations. Don’t give the impression that you want to make an offer or discuss any details about how much you can afford, how quickly you wish to buy, etc.

Follow common courtes. Inspect each home carefully and note details like how strong the water pressure is, how much street noise you hear, etc. It’s easy to get homes mixed up so take photos and take notes for each home.

Bring someone you trust with you on home tours for a second set of eyes. If the house has multiple stories, have one person go upstairs to “walk and talk,” while the other stays downstairs to check for noise levels between floors.

Some sellers will have an offer-review date, while others will be open to any offers that come in. Make sure you ask your agent about this for each home you’re interested in.

When you’re ready, your agent will help you determine how much to offer and which contingencies to include. To determine your initial offer price, check to see if the home has an Estimate, and ask your agent for a comparative market analysis (CMA). A CMA will show the list and final sale prices for similar homes that recently sold in that area.

If a home has been on the market for 30 days or more, ask your agent about making an offer at list price or under.

Once you submit your offer, the seller will review it with their agent and accept, decline, or submit a counteroffer. If your offer is rejected, make sure your Real Estate agent explains why so you can learn from each offer.

Negotiate if needed. Counter-offers are common and should even be expected. If you end up in a counter-offer situation, your agent will help you negotiate the best deal possible.

When negotiating, don’t focus only on your final offer price. Instead, look at the whole picture and consider raising your earnest money, waiving contingencies, or proposing an earlier closing date.

Once you and the seller agree on the terms, you’ll enter the closing process, or escrow, which usually takes 30 to 45 days. You’ll likely be in very close communication with your agent, lender, and escrow agency during this time.

Closing costs are the lender and third-party fees paid at the close of a real estate transaction. The fees usually total 2%–5% of the final sale price.

In addition to closing costs, your lender may require that you have at least two to six monthly payments (including principal, interest, taxes, and insurance) in the bank after the closing. The final steps in closing, once you enter escrow, you’ll have deadlines to complete each of the following:

• Make your earnest money deposit
• Order your title
• If you have a contingency, get a home inspection and request repairs
• Work with your lender to finalize your loan
• Have your home professionally appraised
• Get homeowner’s insurance
• Coordinate all of your paperwork with an underwriter
• Do a final walk-through
• Submit a cashier’s check for your down payment and closing costs
• Close escrow and sign all required paperwork

If all goes well, your contingencies will be removed and your bank will get the money to the seller on time for a smooth closing.