Thinking of Buying Real Estate?

Here is the 6 basic steps of buying a home

Home buying does involve a lot of steps, and I am here to hold your hand all the way from the beginning to the end!  

Every home buying experience is unique and special – and that’s why I’d like to do a consultation with you first, to understand your needs/wants in a home to efficiently search for the home.  Also, we will review your financial goals together, so that you will be comfortable with your mortgage payments after you buy the house. 

Getting familiarized with home buying process is very important, as home buying can also be an emotional roller coaster.

Let’s build together the strategy and plan that meets your life style first to get prepared, and make the home buying experience fun and smooth as possible! 

My Services For Buyers

#1: Consultation

Discuss and align on your goals, and go over home buying process in details so you know what to expect in the home buying process. 

#2: Pre-approval:

Work with lender to obtain the affordable home price and put together your financial plan.

#3: Search for Home

Go thru the list of homes and physically visit homes to evaluate each one of them (this is the fun part!)

#4: Make an offer

Submit an offer to seller, negotiate the price, terms & conditions, contingencies or other items as required.

#5: Inspection & Appraisal

Assure the home is priced to its true value with appraiser, and assure health and safety of the home by inspector.

#6: Closing

You will be reviewing & signing closing documents,  then will obtain keys to the new home.  Congratulations!

Have Questions About Buying?

Check out our FAQs for buying real estate in Chicago Northwest suburbs

There are a lot of factors bundled into considering a ‘good time to buy’, and the ‘right timing’ really varies by each client.  It may be great time for one client but I may advise another client to wait.  

Here are some guidelines which I use when talking to my clients to determine whether if it’s time to buy or not, for him or her.  

1) Run the numbers – We will review your income, debt ration, credit history with a support from our lender partners, and determine your affordability for the price of home and monthly mortgage. You will then know whether if you are in the comfortable zone to pursue to purchase a home under the given circumstances (housing market, interest rates, etc.) 

2) Explore different loan options – There are variety of loan programs that you can leverage, such as down payment as low as 3.5% of home purchase price, or some lender-specific loan programs (such as first time home buyers with  NO MONEY DOWN).  If you are able to find a right match of type of loan that works for you, you will be amazed how much difference if can make on your payments. 

Keep in mind: I will be doing an deep dive consultation at the beginning of the process, so that I can prepare a best suggestion based on YOUR situation.  I am more than happy to have this conversation with you!  

Since we have seen mortgage interest rates in the 3-4%’s’ during 2020-2021, everyone is shocked that the rates has gone up in the past year.

However, the historical average of interest rates in the last 10 years is right around 8%, so we can also see it as the rates just ‘normalizing’ in the post-COVID market. When will the rate start coming down again? – Well, that’s a question to a crystal ball.

We should rather look at other factors: such as home inventory in the area (is there many or less)?, are there many competitors? (if not, you can possibly negotiate down the price), so that we can make the best decision in given condition, instead of waiting for the unknown to hape

The time it takes for loan approval process varies depending on what type of loan (such as conventional, FHA, Veteran, etc.) you are applying for, but usually is done in 1-3 days.  Also keep in mind that every time a loan officer pulls your financial record, will impact your credit score a little.  I do have a list of recommended lenders within client’s area that I can provide, so that clients can interview them and select whoever they are comfortable of working with. 

Real Estate commissions for real estate broker/agent is usually paid from the seller side based on sale price of a home.  Which means, it is the seller who is usually responsible to cover the commission, for both seller and buyer’s real estate broker/agent, so you will not be paying any commission. 

Real Estate broker, or real estate agent is a licensed professional who represents sellers or buyers in real estate transaction.  We are obligated to work under the 5 fiduciary duties –  Loyalty, Confidentiality, Disclosure, Obedience, Reasonable care and Accounting – to support our clients thru the real estate contract negotiation.  Real Estate agent/broker is obligated to work in the client’s (means your) best interest, and not theirs, nor the seller’s.  With that said, it is recommended that you interview your agent/broker prior to signing a contract to assure you will be happy with working with him/her. 


Free Giveaway!

 
 
 

Download my latest ultimate Buyer’s Guide Here →

Ready To Search For Your New Home?

or, reach out to me for any questions


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Download My Home Buyer's Guide

Obtain your free home buyer’s guide here 

What My Buyer Clients Have to Say

Testimonials

Thanks so much Lisa! You helped us find the perfect place in a very timely and professional manner and it was such a pleasure working with you!! Very responsive and always helpful, kind, and diligent with all our needs. Beyond impressed and satisfied!
by Dan C.
Lisa was extremely helpful helping me find a new home in a very tough market, keeping me updated on new listings and making herself available to tour properties around my schedule. She was always on top of all of the paperwork and communication which really helped the process along so I could focus on moving!
by Jeremy A.
All thanks to Lisa, she helped me found a very cozy place. If it wasn’t for her I would not have found a place of my own this quickly. She helped me by giving a great presentation with her colleague to get to know my expectations and standards. Not only that, she got me to believe and trust her through the whole process from start to end. Lisa was very responsive and quick with her actions. While we were communicating it did not felt like there was a barrier and was very comfortable. She really got to know what I wanted and put her foot through the door. With Lisa’s  enthusiastic energy, I can see the passion she has with her work and helping people find a place they call home. To anyone who is trying to find a place or a new home, Lisa Ogawa is the one to go.
by Ethan Chen
We met Lisa and it was a Blessing, she heard our inquiries about the home buying process, since it was our first time. She is a committed Real Estate Agent, her expertise, guidance and wisdom were throughout the entire process. We met Lisa with her team who is an open book and made feel at home as well, we felt their company along the way. We are very satisfied with her efforts and results! If you need a broker or an agent to find a home and feel guided within the entire process, don't look elsewhere. We would love to work with them again in the near future. Thank you Lisa.
by APENALBERT
Lisa is one of the best around ! She is very efficient , her work ethics standards are very high. Her referral are exceptional. My husband and I never felt more comfortable. Lisa never kept us out of the loop and made sure we get answers on a timely basis. She is definitely one of a kind . And we closed within 6 weeks!
by Tamara Longsworth
We worked with Lisa this summer to find our next rental and had an incredible experience. We have high standards and were having a difficult time finding quality rentals and Lisa pulled so many really excellent listings and spent so much time at showings with us the find the absolute perfect place. I could not have asked for a more professional and invested agent to work with!
by Hannah Zizza Stanfield

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