Buyer's Guide

A Step-by-Step 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 buyer’s guide created by our team will help reduce the stress of buying a home and help you enjoy the journey as much as possible.

Step 1: Know Who You Are Working With

SUSAN ELLIS GROUP = Passion and Expertise

Our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream Lake of the Ozarks property. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations. Additionally, we have a list of preferred vendors we work with and trust. We recognize that owning a vacation home and not always being present can present challenges. We are with you every step of the way.

Step 2: Research

Do you already know where you want to buy? Do 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, Susan Ellis Group can give you valuable insight into housing trends in specific Lake of the Ozarks area neighborhoods and help you when the time comes to make an offer.

Step 3: Decide on Your Budget

Notice we 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. Remember, HOA expenses could easily blow your budget.

Step 4: Get Prequalified

Did you know that when you purchase a home or condo at the Lake with a dock it is included with the purchase price? You need access to a lender that can include the dock in the mortgage. Susan Ellis Group has preferred referrals for mortgage professionals. 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.

Passion & Expertise

At the Susan Ellis Group, our goal is to provide you with the most personalized service possible, meticulously designed to help you navigate the process of buying your dream home. We are dedicated to understanding your unique needs and preferences, ensuring that every step of the journey is tailored to achieve your ultimate home-buying aspirations.

Schedule A Consultation

Step 5: 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 you choose to work with the Susan Ellis Group, we take much of the stress off your shoulders. Not only will we help identify properties you might be interested in, arrange showings, and ultimately handle the offer process through closing, but we also have knowledge of the market that you may not possess. Finding the perfect home can be a daunting task, this is where our expertise and wealth of knowledge come into play. Let us show you around some homes that meet your dream home criteria. We are excited to work with you!

Step 6: Make an Offer

Once you have selected the perfect home, Susan Ellis Group works with you 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. We will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into under contract and the Earnest Money will be delivered to title and your escrow account will be opened.

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. We 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 the property. 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.

Congratulations!

After signing the final paperwork to complete the purchase, and the loan has been funded and seller has received their funds, you are now the owner of a new house and you’ll be all set to move into the home of your dreams.

Mortgage Calculator

Estimate your mortgage payment, including the principal and interest, taxes, insurance, HOA, and PMI. Add your location for more accurate estimates.

$0,000 Your Payment

Work With Susan

We are dedicated to providing the most up-to-date market data in the area. Our team is made up of caring, knowledgeable professionals that work tirelessly to help you with the home buying and selling process.

Susan Ellis

Phone

(573) 286-9725

[email protected]

Address

3525 Osage Beach Parkway Osage Beach, MO 65065

Submit a Message

Middle Name

Name

Phone

Message

By providing Susan Ellis Real Estate Group your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.