BUYER RESOURCES

Andrea Leek - Your Trusted Guide In Real Estate

Buying your first home is exciting and nerve-wracking. For most homebuyers, a home is the largest and most complex purchase they’ll ever make. In a competitive real estate market like Stow, Twinsburg, Hudson, Aurora, Solon, Summit and Portage counties, the process may seem even more overwhelming at the outset.

Andrea Leek is an experienced agent committed to being your steadfast partner in realizing your dreams of homeownership by offering unwavering assistance from the search process all the way to the final closing stages. I’m with you every step of the way to make the home-buying process as streamlined and stress-free as possible.

Before shopping for a home, ask yourself some important questions to determine whether you're in a position to buy.

1. Can I afford a home?

The overall cost of the home is more than just the selling price. In addition to the down payment and mortgage payments, you must budget for interest, insurance, property taxes, and maintenance. Use a mortgage calculator to evaluate different scenarios, including monthly payments, and get a sense of what you can afford.

2. Do I have good credit?

Your credit score is one of the most substantial factors in determining loan terms and the overall cost of your home. A lender may approve your application even if you have less-than-stellar credit, but you'll pay a higher interest rate and more fees and may need to make a larger down payment. It's best to clean up your credit and pay down debt before trying to buy a new home.

3. Do I plan to stay in the area for a while?

If you only plan to live in the home for a few years, buying a home may not make sense financially. Most of your monthly mortgage payments in the early years go toward interest, so you won't gain much equity if you sell too soon. Living in your home for a while also allows it to appreciate, increasing your overall equity.  

Get Serious About Your Finances

Once you know you're in a good position to buy, you can move forward. This begins with organizing your finances and starting the mortgage process so you can act quickly when finding a home you want to purchase.  

Check Your Credit

Did you know that a significant number of credit reports contain errors? Before applying for a mortgage, request a free copy of your credit reports from the three major credit bureaus and review the information. If you find errors, file disputes to correct or remove the inaccurate information.

Reduce Debt

Paying off your debt can raise your credit score and help you get the most competitive interest rates. It also reduces your debt-to-income ratio, which lenders look at to determine whether you qualify for a loan and for how much. Lenders generally will only lend to applicants with a debt-to-income ratio under 43%.

Save Money for a Down Payment

Even with first-time home buyer resources that reduce how much you need to put down on a new home, plan to put some cash toward the purchase at closing.  Down payment as little as 3% with certain programs. Some USDA loans don’t require any down payment, but you should still put cash aside to cover closing costs and other expenses. Additionally, budgeting for mortgage insurance is crucial as it can be a significant part of your monthly payments.

Time to start shopping! I will send you listings and schedule showings. Once we have found THE house for you, I'll complete a Comparative Market Analysis (CMA), which is used to help estimate the value of a home. A CMA helps identify and analyze a property’s value based on recent sales of “comparable” homes in the area to aide in our offer strategy.

As your Realtor, I will handle any necessary negotiations on your behalf, covering aspects like pricing and other contract terms such as home inspections, appraisals, rent back agreements, compensation and and closing expenses.

After you have signed a contract for your new home, I will provide comprehensive support throughout the crucial steps leading to a successful settlement. This phase is particularly crucial, and my role as a buyer's agent becomes invaluable. I will ensure your understanding and adherence to all contract terms, including contingencies like home inspections, financing, appraisals, and more. Remaining vigilant regarding details and deadlines is crucial to prevent unintentional breaches of contract by either party.

Through my established network of industry professionals, like lenders, inspectors and title companies, I can connect you with top-tier experts who adhere to our high standards, ensuring a smooth and seamless transaction from beginning to end.

I am committed to being your steadfast partner in realizing your dreams of homeownership by offering unwavering assistance from the search process all the way to the final closing stages. I’m with you every step of the way!

Before shopping for a home, we will discuss your unique needs and create a personalized home buying strategy tailored to your goals. I will listen to your requirements, discuss the type of home, neighborhood, price range, and the  timeline for your search. We’ll help you identify a lender, and other professionals who can support you each step of the way.  We will discuss the necessary documents to get started. 

Purchasing a home is one of the biggest financial investments you will ever make. It can be exciting, and also stressful. As skilled negotiators we will walk you through making the right offer and strategically navigating everything from inspection to closing.

As your buyer's agent, I will be your advocate every step of the way.