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Buyer's 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.

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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 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.

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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 Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? 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.

Passion & Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

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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.

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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. 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.

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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. 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.

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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.

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. 

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Testimonials

"Jeff didn't just help us sell our home and buy a new one, he made it happen. I can say without a doubt that I would not own the house of my dreams today had it not been for Jeff. His knowledge, professionalism, attention to detail, and commitment to us were exceptional. And his sense of humor and friendship made the process all the more enjoyable. Truly a great experience."
"Jeff didn't just help us sell our home and buy a new one, he made it happen. I can say without a doubt that I would not own the house of my dreams today had it not been for Jeff. His knowledge, professionalism, attention to detail, and commitment to us were exceptional. And his sense of humor and friendship made the process all the more enjoyable. Truly a great experience."
Maureen K.
"Very supportive. Has up-to-date knowledge of the local market. We took the property off the market for reasons unrelated to Jeff. When we do sell, Jeff will be our agent."
"Very supportive. Has up-to-date knowledge of the local market. We took the property off the market for reasons unrelated to Jeff. When we do sell, Jeff will be our agent."
Seller
"Jeff sold our waterfront home in East Orleans and found us a new home in East Orleans within 30 days of the closing. We wanted to get to the next stage of life while we were physically, mentally, and emotionally able to make such an important decision. Jeff was someone that we could trust to guide us. He has great listening skills and will not discount anything you say as unimportant. He has a keen sense of the Orleans market how to price your property when selling and how to negotiate pricing on the buy side. He handled both wonderfully for us. He's a very competent fellow with an easy and pleasant personality."
"Jeff sold our waterfront home in East Orleans and found us a new home in East Orleans within 30 days of the closing. We wanted to get to the next stage of life while we were physically, mentally, and emotionally able to make such an important decision. Jeff was someone that we could trust to guide us. He has great listening skills and will not discount anything you say as unimportant. He has a keen sense of the Orleans market how to price your property when selling and how to negotiate pricing on the buy side. He handled both wonderfully for us. He's a very competent fellow with an easy and pleasant personality."
Ken & Christine R.
"Our family has been vacationing in East Orleans for the last 20+ years. When the opportunity presented itself this past fall to look for a place to call home away from home, we connected with Laura Clements at Cove Road Real Estate in Orleans. Laura was nothing but responsive to our initial inquiry, and our mostly practical but oddball list of needs wants, and wishes. Together we put together a list of homes to visit on a marathon property viewing day. She shuttled us around like a champ and helped us navigate the pros and cons of the various properties. We were connected throughout the process via email, texts, and phone calls - superb communication and engagement. When our offer on a home fell though, she persevered and helped us identify other properties of interest. When a home in a pristine location with most of what we wanted came on the market - she arranged a showing quickly. We fell in love with the second home and made an offer accepted. She made the whole process simple and straightforward. She made recommendations for local resources (bank, attorney, etc) that understand the nuances of the Cape. Laura was there every step of the way to ensure the inspection, seller communication, and paperwork were all in line so there were zero complications at what would be the smoothest closing ever. We closed last week and couldn't be happier! She has subsequently shared trusted business partners for painting, landscaping, etc to help ensure our ownership transition is a smooth one. We are grateful for her tenacity, attention to detail, and good humor throughout the process. We'd work with again in a heartbeat!"
"Our family has been vacationing in East Orleans for the last 20+ years. When the opportunity presented itself this past fall to look for a place to call home away from home, we connected with Laura Clements at Cove Road Real Estate in Orleans. Laura was nothing but responsive to our initial inquiry, and our mostly practical but oddball list of needs wants, and wishes. Together we put together a list of homes to visit on a marathon property viewing day. She shuttled us around like a champ and helped us navigate the pros and cons of the various properties. We were connected throughout the process via email, texts, and phone calls - superb communication and engagement. When our offer on a home fell though, she persevered and helped us identify other properties of interest. When a home in a pristine location with most of what we wanted came on the market - she arranged a showing quickly. We fell in love with the second home and made an offer accepted. She made the whole process simple and straightforward. She made recommendations for local resources (bank, attorney, etc) that understand the nuances of the Cape. Laura was there every step of the way to ensure the inspection, seller communication, and paperwork were all in line so there were zero complications at what would be the smoothest closing ever. We closed last week and couldn't be happier! She has subsequently shared trusted business partners for painting, landscaping, etc to help ensure our ownership transition is a smooth one. We are grateful for her tenacity, attention to detail, and good humor throughout the process. We'd work with again in a heartbeat!"
Janet L.
"I highly recommend Laura! She is the best from our first meeting after I chose to put my house on the market, to her follow-up after the sale, she was on top of every detail! This was my first time selling a house. I was nervous and had no idea how the process worked. She walked me through it all, including suggestions on what improvements should be made to get top dollar. She even calmed my nerves when I got anxious. She knows the market, she knows the Cape, she knows people, and she surely knows her job. A loving, compassionate woman with a huge heart."
"I highly recommend Laura! She is the best from our first meeting after I chose to put my house on the market, to her follow-up after the sale, she was on top of every detail! This was my first time selling a house. I was nervous and had no idea how the process worked. She walked me through it all, including suggestions on what improvements should be made to get top dollar. She even calmed my nerves when I got anxious. She knows the market, she knows the Cape, she knows people, and she surely knows her job. A loving, compassionate woman with a huge heart."
Beth C.
"We first contacted Samantha about a home she had listed that had had two offers in one day. She invested significant time with us, offering excellent insight into the market and promising to keep us informed of opportunities that might meet our goals. When the home unexpectedly became available again, she contacted us promptly and worked skillfully with us and the seller to enable us to purchase our dream Cape Cod home with a minimum of stress. Her knowledge of the area, including service providers, was extremely helpful. She was friendly, prompt, and professional, and her calm approach to the negotiations was critical to getting us over the finish line for the quick closing that we and the sellers had agreed to accomplish. Samantha is the real deal and has our highest recommendation and our sincere thanks."
"We first contacted Samantha about a home she had listed that had had two offers in one day. She invested significant time with us, offering excellent insight into the market and promising to keep us informed of opportunities that might meet our goals. When the home unexpectedly became available again, she contacted us promptly and worked skillfully with us and the seller to enable us to purchase our dream Cape Cod home with a minimum of stress. Her knowledge of the area, including service providers, was extremely helpful. She was friendly, prompt, and professional, and her calm approach to the negotiations was critical to getting us over the finish line for the quick closing that we and the sellers had agreed to accomplish. Samantha is the real deal and has our highest recommendation and our sincere thanks."
Kelly F.
"Laura listed and sold our house in Orleans. We are impressed with how passionate she is about real estate, and how knowledgeable she is about the Cape market. Laura took time to listen to our needs and developed a sound marketing plan for our house. From start to finish she was there for us. Highly recommended."
"Laura listed and sold our house in Orleans. We are impressed with how passionate she is about real estate, and how knowledgeable she is about the Cape market. Laura took time to listen to our needs and developed a sound marketing plan for our house. From start to finish she was there for us. Highly recommended."
Seller
"Our agent Laura Clements was amazing in helping us find and buy our dream vacation home in a tight market. Laura had every detail covered and was professional throughout. Laura’s knowledge of the Cape Cod real estate market is invaluable. Thank you!"
"Our agent Laura Clements was amazing in helping us find and buy our dream vacation home in a tight market. Laura had every detail covered and was professional throughout. Laura’s knowledge of the Cape Cod real estate market is invaluable. Thank you!"
Stephanie F.
"Trying to find and buy a house from 200 miles away was a daunting task until I met Jeff Cusack by happenstance. He was my eyes and ears on the Cape and more than one time saved me from myself. His knowledge of the properties on the entire Cape and all the players within its real estate community is amazing. This allowed me to find an incredible piece of property in the town I love so much for a great price. His patience is also a virtue. Finally, I was lucky enough to meet everyone else at Cove Road and was made to feel like part of their team."
"Trying to find and buy a house from 200 miles away was a daunting task until I met Jeff Cusack by happenstance. He was my eyes and ears on the Cape and more than one time saved me from myself. His knowledge of the properties on the entire Cape and all the players within its real estate community is amazing. This allowed me to find an incredible piece of property in the town I love so much for a great price. His patience is also a virtue. Finally, I was lucky enough to meet everyone else at Cove Road and was made to feel like part of their team."
Thomas K.

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