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A Tennessee Buyer's Guide for a Confident Home Search

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 Your Real Estate Expert

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. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.

My 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!). 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.

Great News!

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.

What Clients Say About Shawn

Testimonials

Shawn was very knowledgeable and helpful. He became genuinely invested in our wants/needs in a home, and sent us listings that matched our desires. He worked well with other realtors, and often spoke on our behalf to potential landlords. He always responded to our calls/emails immediately, and went above and beyond to help us find a home!
Shawn was very knowledgeable and helpful. He became genuinely invested in our wants/needs in a home, and sent us listings that matched our desires. He worked well with other realtors, and often spoke on our behalf to potential landlords. He always responded to our calls/emails immediately, and went above and beyond to help us find a home!
Kai H.
Shawn is a terrific guy and an excellent Realtor who shows compassion and professionalism
Shawn is a terrific guy and an excellent Realtor who shows compassion and professionalism
Sarah Beth L.
Shawn is someone that cares, he is genuine, and he takes time to understand his clients. My family and I were making a big life move, and we needed someone we could trust that would not just sell us a house, but find us our home. We were moving from Chicago to Franklin and he made the virtual experience as seamless as possible. Shawn was able to establish a rapport quickly and hit the ground running. He spent the time we needed to make us feel comfortable, he guided us through the process, and was there for us every step of the way. When we finally met in person it was as if we already knew each other for years, and that is because Shawn truly gets to know his clients. We are now 3months in our home, and Shawn stopped by the other day to see how we were settling in, and to welcome us to Tennessee. We couldn't have made this move without Shawn. THANK YOU!
Shawn is someone that cares, he is genuine, and he takes time to understand his clients. My family and I were making a big life move, and we needed someone we could trust that would not just sell us a house, but find us our home. We were moving from Chicago to Franklin and he made the virtual experience as seamless as possible. Shawn was able to establish a rapport quickly and hit the ground running. He spent the time we needed to make us feel comfortable, he guided us through the process, and was there for us every step of the way. When we finally met in person it was as if we already knew each other for years, and that is because Shawn truly gets to know his clients. We are now 3months in our home, and Shawn stopped by the other day to see how we were settling in, and to welcome us to Tennessee. We couldn't have made this move without Shawn. THANK YOU!
Anthony D.
From the moment we met Shawn we knew that we would be in the best of hands. He's knowledgeable, patient, caring, and down to earth. He was always available and in our corner.
From the moment we met Shawn we knew that we would be in the best of hands. He's knowledgeable, patient, caring, and down to earth. He was always available and in our corner.
Darrell T.
Shawn Tate exceeded our expectations in representing our recent home sale. Truly a professional, detailed and organized process that sold our home very quickly and at an aggressive price. Shawn first captured our attention in his role not as a realtor but as president of our HOA. His affiliation with the Sotheby’s organization made our selection to use his services very easy. We are glad we did.
Shawn Tate exceeded our expectations in representing our recent home sale. Truly a professional, detailed and organized process that sold our home very quickly and at an aggressive price. Shawn first captured our attention in his role not as a realtor but as president of our HOA. His affiliation with the Sotheby’s organization made our selection to use his services very easy. We are glad we did.
Ronald R.
Shawn Tate has been a total professional throughout all aspects of the sale of our home. He was always willing to answer questions, take our phone calls and meet with us whenever necessary. He clearly demonstrated extensive experience and sound judgment. We would highly recommend him to anyone desiring to sell a residential or commercial property.
Shawn Tate has been a total professional throughout all aspects of the sale of our home. He was always willing to answer questions, take our phone calls and meet with us whenever necessary. He clearly demonstrated extensive experience and sound judgment. We would highly recommend him to anyone desiring to sell a residential or commercial property.
Andrew L.

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