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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 your agent 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 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.

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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 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, and 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.

Passion & Expertise

My goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. I am 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!). 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.

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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. 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.

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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. 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.

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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. 

Hear What My Clients Have to Say

Testimonials

"Over the past 40+ years, we have moved over a dozen times and used at least 10 different realtors to purchase a house. None of them provided the quality of service that we received from Colleen Long. She has excellent communication, is detail-oriented, and works tirelessly. It took some time in this crazy market, but we found our perfect home. In all the homes we have purchased, I’ve never had a realtor present at the home inspection or closing, but Colleen was there and very helpful. Colleen and her team are highly recommended. We feel very blessed that we found Colleen for our home search in the Triad, especially in this market. She and her team are very professional and detail-oriented."
"Over the past 40+ years, we have moved over a dozen times and used at least 10 different realtors to purchase a house. None of them provided the quality of service that we received from Colleen Long. She has excellent communication, is detail-oriented, and works tirelessly. It took some time in this crazy market, but we found our perfect home. In all the homes we have purchased, I’ve never had a realtor present at the home inspection or closing, but Colleen was there and very helpful. Colleen and her team are highly recommended. We feel very blessed that we found Colleen for our home search in the Triad, especially in this market. She and her team are very professional and detail-oriented."
Danny H.
"We have known Colleen for many years. Colleen has represented us as both a buyer and seller. She is the consummate real estate professional; conscientious, knowledgeable, and personable. We highly recommend Colleen. Mark and Joyce Markwell"
"We have known Colleen for many years. Colleen has represented us as both a buyer and seller. She is the consummate real estate professional; conscientious, knowledgeable, and personable. We highly recommend Colleen. Mark and Joyce Markwell"
The Markwells
"Colleen is a go-getter. She worked with her heart and soul for me. When I get to buy again she is my go-to! Honest and extremely dependable Thank you, Colleen."
"Colleen is a go-getter. She worked with her heart and soul for me. When I get to buy again she is my go-to! Honest and extremely dependable Thank you, Colleen."
A. Rudd
"Colleen Long is a delightful person to work with. She is knowledgeable, informed, responsive, and always ready to deal with just about anything that comes up in the real estate process. She is as they say a ten!"
"Colleen Long is a delightful person to work with. She is knowledgeable, informed, responsive, and always ready to deal with just about anything that comes up in the real estate process. She is as they say a ten!"
A. Delio
"As the CEO of a Fortune 500 company, we have had to move the family on many occasions. I have never dealt with a real estate agent who has had the same quality and tireless approach as Colleen Long. A true professional and expert in her field. Outstanding and genuine. Thank you, Colleen!"
"As the CEO of a Fortune 500 company, we have had to move the family on many occasions. I have never dealt with a real estate agent who has had the same quality and tireless approach as Colleen Long. A true professional and expert in her field. Outstanding and genuine. Thank you, Colleen!"
P. McLaughlin
"Colleen was simply amazing. She clearly has been in this business for a while and that experience was tremendously helpful. She made the whole transaction very easy. Her many connections and familiarity with the area helped us find the perfect home. We could not be happier with our new home. On top of that, Colleen is an absolute pleasure to work with. Thank you Colleen for making this so easy!"
"Colleen was simply amazing. She clearly has been in this business for a while and that experience was tremendously helpful. She made the whole transaction very easy. Her many connections and familiarity with the area helped us find the perfect home. We could not be happier with our new home. On top of that, Colleen is an absolute pleasure to work with. Thank you Colleen for making this so easy!"
C. Dickson
"Colleen is a rare gem in the real estate profession! Her knowledge and attentiveness through every step took the stress and anxiety out of our move to Greensboro. She goes above and beyond to make sure everyone has a thorough understanding of each step in the process. We are thrilled with our new home! 10. Rating Across the Board for Colleen."
"Colleen is a rare gem in the real estate profession! Her knowledge and attentiveness through every step took the stress and anxiety out of our move to Greensboro. She goes above and beyond to make sure everyone has a thorough understanding of each step in the process. We are thrilled with our new home! 10. Rating Across the Board for Colleen."
K. Timbie
"We have worked with Colleen Long several times on real estate transactions. Recently, she helped us sell our downtown Greensboro home offers above asking in one day!-and buy our new home in Summerfield at a great price. Colleen has deep experience in Triad real estate. She knows everyone in real estate and construction, and she knows every neighborhood. These kinds of contacts and experience are how she makes things happen. To help us sell our home quickly, Colleen advised us on staging and repairs, hired a talented photographer for listing photos, and created a winning strategy. To help us buy a new home, Colleen listened carefully to what we said, advised us on when to make an offer and when to walk away, and coordinated pre-move renovations. Every real estate transaction comes with nuances and sometimes glitches. We had an issue with property lines that Colleen identified and solved swiftly. She does her homework and leaves nothing to chance, making you a top priority. When you work with Colleen, you will feel as if you are her only client."
"We have worked with Colleen Long several times on real estate transactions. Recently, she helped us sell our downtown Greensboro home offers above asking in one day!-and buy our new home in Summerfield at a great price. Colleen has deep experience in Triad real estate. She knows everyone in real estate and construction, and she knows every neighborhood. These kinds of contacts and experience are how she makes things happen. To help us sell our home quickly, Colleen advised us on staging and repairs, hired a talented photographer for listing photos, and created a winning strategy. To help us buy a new home, Colleen listened carefully to what we said, advised us on when to make an offer and when to walk away, and coordinated pre-move renovations. Every real estate transaction comes with nuances and sometimes glitches. We had an issue with property lines that Colleen identified and solved swiftly. She does her homework and leaves nothing to chance, making you a top priority. When you work with Colleen, you will feel as if you are her only client."
S. & D. Barnard
"My experience with Colleen is unique in that I worked with her to buy my first home when I was 28 years old and again to sell that same home when I was 35. She helped guide me through every aspect of both buying and selling and I never worried that her guidance was anything other than personal, professional, and in my best interest. Colleen is extremely caring, thoughtful, and hard-working and I am so thankful and honored to have met and worked with her. If you are even slightly interested in buying or selling a home, I highly recommend contacting and discussing your options with Colleen. Not only will you receive the best guidance from one of the top realtors in the Triad area, you will also gain a friend."
"My experience with Colleen is unique in that I worked with her to buy my first home when I was 28 years old and again to sell that same home when I was 35. She helped guide me through every aspect of both buying and selling and I never worried that her guidance was anything other than personal, professional, and in my best interest. Colleen is extremely caring, thoughtful, and hard-working and I am so thankful and honored to have met and worked with her. If you are even slightly interested in buying or selling a home, I highly recommend contacting and discussing your options with Colleen. Not only will you receive the best guidance from one of the top realtors in the Triad area, you will also gain a friend."
C. Burke
"We have relocated many times and have purchased many homes all over the country. Colleen was one of the best realtors we have had the pleasure of working with. Colleen is so knowledgeable of the area and really understands our preferences. Colleen helped us through some tough negotiating and continued to be professional and supportive. We will definitely work with Colleen again!"
"We have relocated many times and have purchased many homes all over the country. Colleen was one of the best realtors we have had the pleasure of working with. Colleen is so knowledgeable of the area and really understands our preferences. Colleen helped us through some tough negotiating and continued to be professional and supportive. We will definitely work with Colleen again!"
M. & L. Dunahoo
"Colleen has been great. You may already know this but she helped with the selling of our previous home and we were happy with working with her then and we’re excited to be working with her now. She’s super responsive, very knowledgeable, and goes above and beyond our expectations. She’s an awesome Realtor!"
"Colleen has been great. You may already know this but she helped with the selling of our previous home and we were happy with working with her then and we’re excited to be working with her now. She’s super responsive, very knowledgeable, and goes above and beyond our expectations. She’s an awesome Realtor!"
George J.
"Colleen is an amazing agent, and so great to work with, she goes above and beyond for her clients and is super knowledgeable. I will definitely continue to work with Colleen in the future. Arsenio worked with me on my home insurance, he got me a great rate and was super helpful and very responsive. Overall I have had a great experience with Allen Tate."
"Colleen is an amazing agent, and so great to work with, she goes above and beyond for her clients and is super knowledgeable. I will definitely continue to work with Colleen in the future. Arsenio worked with me on my home insurance, he got me a great rate and was super helpful and very responsive. Overall I have had a great experience with Allen Tate."
Lynda D.
"I will recommend Colleen Long to everyone I meet who has real estate needs. She was 100% professional and gave up better-than-expected service."
"I will recommend Colleen Long to everyone I meet who has real estate needs. She was 100% professional and gave up better-than-expected service."
Sheila B.
"Colleen is the best! As first-time home buyers, we were clueless about the process of finding and buying a property. Colleen not only patiently held our hand through each decision and step, but she also put herself totally in service of our interests as a shrewd negotiator and advisor. She is responsive, friendly, and never misses a beat. Want to set up a viewing? Already done. Want to check that property again after it has rained? Let’s go. Need to contest an appraisal? Colleen did all the legwork and won the day. Working with her made this process so much easier than I imagined. I can’t say enough positive things about her."
"Colleen is the best! As first-time home buyers, we were clueless about the process of finding and buying a property. Colleen not only patiently held our hand through each decision and step, but she also put herself totally in service of our interests as a shrewd negotiator and advisor. She is responsive, friendly, and never misses a beat. Want to set up a viewing? Already done. Want to check that property again after it has rained? Let’s go. Need to contest an appraisal? Colleen did all the legwork and won the day. Working with her made this process so much easier than I imagined. I can’t say enough positive things about her."
B. Summers
"She did a good job and sold the property quickly."
"She did a good job and sold the property quickly."
Thomas M.
"5 stars for the best Real Estate Agent that I have ever worked with, Colleen Long! Would recommend her to anyone in this market."
"5 stars for the best Real Estate Agent that I have ever worked with, Colleen Long! Would recommend her to anyone in this market."
Thomas R.
"My husband and I were so lucky to work with Colleen Long of Allen Tate. She was professional, responsive, knowledgeable, and best of all FUN! Despite our nominal budget, Colleen treated us like we had a million dollars in the bank. She listened to everything we wanted in a home and sought to find it for us! I honestly don't know what we would of done without her!"
"My husband and I were so lucky to work with Colleen Long of Allen Tate. She was professional, responsive, knowledgeable, and best of all FUN! Despite our nominal budget, Colleen treated us like we had a million dollars in the bank. She listened to everything we wanted in a home and sought to find it for us! I honestly don't know what we would of done without her!"
William B.
"Colleen is a great agent!"
"Colleen is a great agent!"
Lolita M.
"Colleen is such a professional at what she does! I completely enjoyed working with her. She constantly kept us informed on all potential real estate sales. Thank you, Colleen, for all your help. I will be sure to call on you for any future housing opportunities."
"Colleen is such a professional at what she does! I completely enjoyed working with her. She constantly kept us informed on all potential real estate sales. Thank you, Colleen, for all your help. I will be sure to call on you for any future housing opportunities."
Marianne A.
"Loved working with Colleen. This was my 4th house purchase and she was by far the best I've worked with!"
"Loved working with Colleen. This was my 4th house purchase and she was by far the best I've worked with!"
Rita F.

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