How to Buy a Home in DMV

Ready to buy a home in DMV?  The Banner Team is here to help! Let us guide you through the homebuying process so you’re sure to find a perfect home in the right area within your price range.  We have so many options that extend beyond the homes that are offered through the Multiple List Service (MLS).  A home search takes time, but along the way we'll educate you about the process, the market, and all the options you have here in the DMV so that you make a smart buying decision.  Let's start with some of the most important steps:

1. Determine what’s affordable

You'll want to know your home budget before you open up your computer and start looking at homes.  Some home communities include additional fees that you'll want to factor into your budget, and you'll also need to consider your insurance and tax costs.  Use our mortgage calculator to see what you might be paying per month at various price points—including insurance, taxes and more.  

2.  Let's find a Lender

It's crucial for you to have confidence in the lender you choose.  We work with some of the best in the business, and most offer pre-approvals and the ability to apply online.  You'll want to kickstart the process early if you are ready to start looking.  We're happy to provide suggestions for any type of loan that will work best for your unique buying situation so feel free to reach out!

3. Compare SOLD prices

When you work with a Banner Team agent, we'll provide you with the latest sales information so that you have the opportunity to gauge the pricing trends and an area's affordability.  We'll be able to show you all of the recent comparable sales, other homes that are currently on the market and where they are priced, and we'll be able to get you the important data you'll need so that you can hone in on certain areas of interest.  You can request our neighborhood sold report for communities you’re most interested in. 

4. Work with The Banner Team

We have a strong passion for what we do and are dedicated to helping you find the home that will fit your lifestyle.  We know it's more than just the bricks and mortar that you're buying, and we want you to start establishing roots in a neighborhood or community where you will thrive.  There's nothing we like more than seeing buyers turn their newly purchased "house" into their own "home"!

5. Find your home with your Banner Team agent

Now for the fun part! It’s time to find your DMV dream home and start touring potential new living spaces.  If you look at multiple homes, it's a good idea to keep notes and to keep your Banner Team agent apprised of all the things you like about a particular home or neighborhood.  That way, when we know there is a home that fits your "wish list" best, we'll be able to react quickly and get you in to tour it.  One easy way is to keep track of the homes you tour is by taking photos of those you like most.  

6. Are you ready to make an offer? 

Some buyers look at 10 homes; others look at 50.  Whenever you find "the one" for you, your Banner Team agent will help you craft a great offer.  Your Banner Team agent will already know the "temperature" of the market and will be able to advise you of the most important considerations to include: it can be price, date of settlement, and any contingencies that you'll want to include.  Ultimately, your BT agent will do the behind-the-scenes work so that your offer stands out and is the one the owner chooses to accept! 

7. Finalize your mortgage

Once we have a ratified contract, (where all parties agree to the terms of the offer) it's time to let your lender know that you will be proceeding with a purchase.  Your Banner Team agent and our Closing Coordinator will ensure that all parties to the home sale have your contract and start the clock on getting your loan finalized and settlement arranged.  Depending upon the terms of your contract, your lender may order an appraisal, and will be in constant communication with us and you to ensure that we stay on track for settlement.  Don’t be afraid to ask us or your lender any questions. 

8. Inspections and/or Contingencies 

If your contract allows for a home inspection, your Banner Team agent will help arrange it.  It is important for you to attend the inspection so that you have a great idea of the "health" of your new home.  We'll be able to provide you with a list of qualified and reputable home inspectors.   Your Banner Team Agent will be there as well, and will help you identify any "red flags" or issues that you'll want to address with the seller.  Working in conjunction with the inspector, your Banner Team agent will be able to help you create your response so that your interests are protected. 

9. Walk through and close

Your Banner Team agent will arrange for a Final Walkthrough of your home, which is usually a few days (or even the day of) before closing.  In the event that there were home inspection items where you requested repairs, you'll be able to see that the repairs were done in the manner that all parties agreed.  Presuming everything looks good, you'll move on to your closing and get the keys! 

10. Moving day!

Congratulations—it’s the moment you’ve been waiting for!   Whether it's taken a few weeks or a much longer time, it's now time to celebrate your new home and your life as a homeowner.  We hope you've enjoyed this journey and look forward to seeing how you make this house your own.  And don't forget...the Banner Team doesn't say goodbye at the closing table---we've got resources for all of your real estate needs and hope you'll take advantage of our great network of partners!  

Still Have Questions or Ready to Get Started?

It’s our goal to ensure you walk away confident in having an understanding of the home buying process. Don’t hesitate to reach out should you have any questions or concerns. We want to provide you with a smooth and rewarding buying experience so that you can focus on what matters most. If you still need a little help, take a look through our homebuying resources, and be sure to contact Banner Team so we can get you moving on the right path.