Make your next move.
BUYING YOUR HOME
Buying your home.
Whether you’re purchasing your starter home or you’ve done this a few times, home buying can be exciting and intimidating. But that’s where we come in! As your real estate agent, we’ll take care of all of the little details, so you can focus on the big picture.
Experience the Five Star effect.
Since 1996, Five Star Real Estate has provided hands-on guidance and expertise to people looking to buy or sell a home. Five Star agents are innovative, experienced Realtors® who are passionate about people and property.
As a real estate leader, we consistently close more than twice the national average of transactions. While success is key in effectively selling and buying homes, the heart of our business is the relationships we build with homeowners.
We will walk you through all the homes that pique your interest, offering helpful information and taking note of your likes and dislikes.
A trusted partner.
Working with Five Star means you have a guide, partner, and confidant throughout this entire process. We know where to get the most reliable information, who to call when there’s an issue, and how to navigate any bumps in the road.
OFFER TERMS
Which appliances will be included in the sale? Who’s going to cover the tax payment? There are many decisions to make when submitting an offer. We will guide you through the terms that you feel good about— and make an attractive offer.
NEGOTIATING
Five Star Realtors® are specially trained to negotiate on your behalf. Leave the difficult conversations to us so that you can focus on what you need (and want) out of an official agreement.
EXPERT OPINIONS
Whether it’s a cozy fireplace or a formal dining room, when touring homes, most buyers focus on their musthaves. An experienced Realtor® knows what red flags to watch out for and how to work through them.
From “Hello!” to “Welcome home” in six steps.
Though the journey to home ownership can be overwhelming, we’re here to make your experience as easy and understandable as possible.
MY OFFER WAS ACCEPTED!
Up next: the seller collects the earnest money deposit as outlined in your offer. Then we will work with your lender to get your mortgage application started.
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MAKE AN OFFER
Once you’ve found the one, it’s time to submit an offer. We will present an attractive offer to the seller on your terms. If needed, we’ll assist with negotiations, too.
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NAVIGATE THE PENDING PROCESS
It can be stressful waiting for closing day, but we’re here for you to handle all of the important, lengthy, and potentially confusing details.
Appraisals
Financing requirements
Surveys and inspections
WHAT’S UP WITH INSPECTIONS?
An inspection is your chance to get a closer look at the property you’re about to buy. Afterwards, you’ll receive a report to base negotiations on, if needed.
MEET YOUR FIVE STAR REALTOR ®
Over coffee, lunch, or a bevvie of your choice, we’ll get together to learn more about each other—and maybe share a few pics of our pets. Expect questions like:
Why are you buying a home now? What are your wants vs. your needs? What’s your timeline?
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START HOUSE HUNTING
Here’s the fun part! Finding your ideal home starts with finding quality potential matches. We scour listings far and wide.
Online and MLS (Multiple Listing Service)
For sale by owner Bank-owned properties
Pocket listings
New construction
GET PRE-APPROVED
Need a loan? We can offer connections to top-rated lenders who will help make the buying experience that much smoother. Getting pre-approval gives us a ballpark loan amount, so you can look for homes within your budget.
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CLOSE IT OUT
Finally, closing day is here! We will be with you to complete the final steps of purchasing your new home.
Provide remaining funds to title rep
Sign lots and lots of paperwork
Get your new keys and head home
Prove it with a pre-approval.
As a buyer, if you are getting a mortgage, you need to be pre-approved before you begin your house search. But why?
DETERMINES YOUR BUYING POWER
What can you realistically afford? Pre-approval from your lender gives you a clear understanding of how much a lender is tentatively willing to loan you.
STRENGTHENS YOUR OFFERS
Getting pre-approved shows that you are a serious and qualified buyer. This is especially important in competitive markets.
GIVES YOU NEGOTIATING POWER
Pre-approval can give you leverage when negotiating with sellers, potentially leading to better terms or a more favorable purchase price.
SPEEDS UP THE PROCESS
Since much of your financial information is already reviewed during the preapproval process, it makes the closing more streamlined.
UNCOVERS POTENTIAL PROBLEMS EARLY
Instead of getting your heart set on a home you can’t get a loan for, the pre-approval process helps identify any potential credit or financial issues that need to be addressed.
With everything else going on, it’s easy to wonder where your mortgage lender comes in. During the Pending Process, these are the steps to final payment: + Bank orders an appraisal
+ Your loan is underwritten
+ Loan is approved and cleared for closing
+ Funds are deposited after you sign your closing day paperwork How do I actually pay for my home?
Moving day’s coming quickly.
Any tips?
Hire a moving company that’s licensed, insured, and well-reviewed Transfer utilities, cable, and internet services
Change the locks on your new home
Update your license plate if you’re moving to a new state
Transfer prescriptions to your new pharmacy
Register your kids at their new school
Move any medical documents to your new healthcare providers
Who’s picking up the tab?
From inspections to appraisals and closing costs, there are a lot of items on a buyer’s final bill. Typically, the seller will cover some of these expenses.
BUYER’S
CLOSING COSTS
+ Down payment
+ Home inspection
+ Mortgage-related costs
+ Title insurance
+ Property taxes
+ Recording fees
+ Attorney fees
+ Other fees can include escrow fees, transfer taxes, and survey fees
SELLER’S
CLOSING COSTS
+ Real estate commissions*
+ Property taxes
+ Transfer taxes
+ Home warranty
+ Attorney fees
+ Seller concessions
* Real estate commissions are negotiable. Together we will discuss the best commission strategy for you.
Key Terms
Buying & Selling Basics
APPRAISAL
A professional estimate of a home’s market value, usually required by a lender before approving a loan.
ASSESSED VALUE
The value assigned to your property by the local government for tax purposes. Not always the same as market value.
BUYER’S AGENT
The real estate agent who represents the buyer’s interests in a transaction.
SELLER’S AGENT (LISTING AGENT)
The agent who represents the seller and markets the property.
CLOSING
The final step in a real estate deal—when all paperwork is signed, money changes hands, and the property officially changes ownership.
CLOSING COSTS
Fees due at closing, often 2–5% of the purchase price. May include loan fees, title fees, taxes, and more.
CONTINGENCY
A condition that must be met for a sale to proceed (e.g., financing, inspection, appraisal).
EARNEST MONEY
A deposit from the buyer (typically 1–3% of the price) to show serious intent to purchase. It’s applied to the purchase or refunded if a contingency isn’t met.
PENDING
The home has an accepted offer and is in process, with contingencies being worked through or cleared.
Financing & Loan Terms
AMORTIZATION
The process of paying off a loan over time through regular payments of principal and interest.
ANNUAL PERCENTAGE RATE
(APR)
The full cost of borrowing money, including interest and lender fees, shown as a yearly percentage.
CONVENTIONAL LOAN
A mortgage not insured by the government (unlike FHA or VA loans).
FHA LOAN
A loan backed by the Federal Housing Administration, often with lower credit and down payment requirements.
VA LOAN
A loan program for eligible veterans, active-duty service members, and some spouses, often requiring no down payment.
FIXED-RATE MORTGAGE
A home loan where the interest rate stays the same for the entire term of the loan.
ADJUSTABLE-RATE MORTGAGE (ARM)
A loan where the interest rate may change over time after an initial fixed period.
LOAN PRE-APPROVAL
An early review by a lender to determine how much you may qualify to borrow based on your income and credit.
DOWN PAYMENT
The upfront portion of the purchase price paid by the buyer, usually between 3% and 20%.
ESCROW ACCOUNT
An account set up by the lender to pay property taxes and insurance on your behalf.
HELOC (HOME EQUITY LINE
OF CREDIT)
A flexible loan that lets you borrow against the equity in your home, often used for renovations or large expenses.
CLOSING
DISCLOSURE (CD)
A detailed summary from your lender / title company of all final costs, loan terms, and payments. Look for this about 3 business days before closing.
SHORT SALE
When a home is sold for less than what’s owed on the mortgage. Requires lender approval and may take longer than a normal sale.
FORECLOSURE
When the lender takes legal action to repossess a property after missed mortgage payments. Often sold “as-is” at auction or through the bank.
Title & Legal Docs
TITLE
Legal ownership of a property.
TITLE INSURANCE
Insurance that protects buyers and lenders from disputes over property ownership or past claims.
TITLE COMMITMENT
A document that outlines what must be cleared up before title insurance can be issued, like unpaid taxes or liens.
PRELIMINARY TITLE REPORT
A snapshot of the property’s title status before closing. Shows any known issues like easements or liens.
DEED
The legal document that officially transfers property ownership from seller to buyer.
LIEN
A legal claim against a property for unpaid debt, like taxes or contractor work. Must usually be resolved before sale.
HOA (HOMEOWNERS ASSOCIATION)
An organization in some communities that sets and enforces rules and collects fees for upkeep of shared areas.
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