Buyer's Guide

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.

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.

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.

Step 4: Choose a Real Estate Agent

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. Finding the perfect home can be a daunting task, this is where my expertise and wealth of knowledge come into play. Let me show you around some homes that meet your dream home criteria so you can find the one that's right for you.

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.

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.

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.

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.

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.

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.

My Testimonials

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Carolyn M.

Lisa was great and knowledge of the area was instrumental. Definitely recommend!

Kenneth C.

Lisa was professional, accessible, responsive, and friendly. I would recommend her to friends and family. She helped make the transaction easy.

Brandon J.

Moved to MA and was unaware of the real estate processes here. Lisa was very welcoming and answered all our questions. The process was quick, easy, and rewarding now that we have our dream home. A huge appreciation to Lisa and ...

Kandee A.

BuyerWe appreciated Lisa’s attention to detail and professionalism as she represented us and the seller. She is extremely knowledgeable about this area and was able to get the home inspection done to accommodate our schedule an...

Nathanael D.

Lisa was fantastic to work with, she understood what we were looking for and made sure that we were able to purchase the home we wanted for a fair price. She also advocated for us in negotiating repairs after the home inspectio...

Michael S.

Lisa and her team were excellent in taking us through the selling process and helping with the many details. We sold our home at a very good price, and with conditions that were important to us. Lisa listened to our needs and i...

Daphne B.

Lisa was recommended to me by another broker in another state. seems like high praise and Barbara was exactly right. Lisa is fabulous! I knew I could trust Lisa’s advice and leadership. she enabled us to offer lower than the li...

Rose and Julius

She took us seriously from the first phone conversation we had which was very early on in our search for a house. She knows the Cape Cod market very well which helped us make good decisions. She guided us in every step of the p...

Suzanne and Stu Nelson

Lisa and her Team did a great job for us. Lisa’s market analysis and the strategy she developed resulted in a 2-day, over-asking sale of our home. The energy brought to the process by Lisa and Robin was surely part of the succe...

Jenn E.

When I talked to Lisa it was very clear that she was knowledgeable about Cape Cod. She was also warm and energetic and spent a lot of time talking to us and understanding what we wanted. She was super attentive and available to...

Matthew E.

Our buying experience was different than most. Lisa was quick to respond when we reached out to her, she set up a visit to the condo we found the next day, and within a week we had an accepted offer. Lisa took the time to under...

Stephen M.

Lisa was great in providing guidelines that helped my wife and me search for a home. She also gave us the freedom to explore and ask questions as they came up during the home-buying process, making us feel well-supported throug...

Brynja and Orn

Lisa Parenteau made our dreams come true with the purchase of our beach house in West Yarmouth. She was very thorough, smart, and straightforward. It is obvious that she loves her job. It was a pleasure working with her and I w...

Mike A.

I had a great experience with Lisa Parenteau representing me as a buyer. In this crazy market, it was very important for us to find somebody local that can navigate a high-demand environment. Lisa was able to help us look favor...

Diane R.

Lisa and the team did an outstanding job in preparing the house for sale. This was a long-distance sale and Lisa kept me informed of things weekly by phone. All transactions were accomplished smoothly with my not having to be p...

Mike C.

Lisa Parenteau came highly recommended and she not only met all our expectations but exceeded them! First-class realtor every set of the way. Prompt in all her responses, professional, and had our best interests in mind at all ...

Mary C.

Lisa Parenteau is professional, has a great can-do attitude, and really loves what she does. She is very knowledgeable about what will sell a house quickly and at an excellent price. Lisa listened carefully to us and understood...

Jess and Patrick

When we were faced with the daunting task of relocating from Boston down to the South Coast/Cape, Lisa came on a high-praise referral from the realtor who helped us buy our first home. Her experience and expertise were invaluab...

Sarah W.

From the moment that Lisa stepped foot on our property in North Truro, Cape Cod, I knew that she was the perfect agent for our needs. We had an old family home with a lot of local history associated with it. It was a very senti...

Sara and Elijah

We first worked with Lisa 2 years ago when she sold our house. When we found out that the Coast Guard was moving back to the same area, there was NO question that we would work with Lisa AGAIN to help us with our home purchase!...

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Lisa is in the top 1% of agents in her market. She delivers impressive service, and high production and was awarded the ICON Agent award at eXp Realty in her first and second year and was the 2020 Top Producer by sales volume for all of MA.

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A Step-by-Step First Time Buyer's Guide