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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 our team 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 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. 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 Real Estate Experts

Can you shop for, look at, and ultimately make an offer on a home without real estate experts? Technically yes, but why would you when it costs you nothing for agents like us to 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, but we also have knowledge of the market that you don’t 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 so you can find the one that's right for you.

Passion & 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 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.

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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!). We 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. 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 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. 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.

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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. 

See Why Our Clients Love Us

Testimonials

Read what our clients have to say about working with us.

"My move from Palm Springs to Los Angeles became easier knowing that I had someone in my corner working tirelessly to help me. They treated me with respect and I felt like I was purchasing a million-dollar listing!"
"My move from Palm Springs to Los Angeles became easier knowing that I had someone in my corner working tirelessly to help me. They treated me with respect and I felt like I was purchasing a million-dollar listing!"
Buyer
"I had a job transfer from Atlanta to Los Angeles and was scared to death. Travis kept me in line every step of the way. He even called up moving companies for me (in Atlanta!) and got the best quote!"
"I had a job transfer from Atlanta to Los Angeles and was scared to death. Travis kept me in line every step of the way. He even called up moving companies for me (in Atlanta!) and got the best quote!"
Buyer
"They sold our property in 11 days! Once again, 11 days! We love you Travis and Judy!"
"They sold our property in 11 days! Once again, 11 days! We love you Travis and Judy!"
Seller
"The Canby Group recently sold one of my investment properties in Tehachapi California. In my 45 years of experience, this was by far the smoothest transaction I have had when doing a 1031 Exchange."
"The Canby Group recently sold one of my investment properties in Tehachapi California. In my 45 years of experience, this was by far the smoothest transaction I have had when doing a 1031 Exchange."
Experienced Investor
"Travis and Judith are awesome! The whole experience was great, their marketing, knowledge and most of all they're just nice people! We had one open house on a Sunday and the offers (32 offers) started coming in that day we ended up selling the house for $61,000 over list price!"
"Travis and Judith are awesome! The whole experience was great, their marketing, knowledge and most of all they're just nice people! We had one open house on a Sunday and the offers (32 offers) started coming in that day we ended up selling the house for $61,000 over list price!"
Seller
"Most agents I've dealt with in the past were very typical agents. Travis was the complete opposite. I've honestly never had an agent work on my property day in and day out. He has a relentless mindset and sold our home for 9k over asking!"
"Most agents I've dealt with in the past were very typical agents. Travis was the complete opposite. I've honestly never had an agent work on my property day in and day out. He has a relentless mindset and sold our home for 9k over asking!"
Seller
"The Canby Group is that rare realtor group who really works for their client and fights for their best interests. They expertly employed resources that best marketed the property, securing the best offer possible."
"The Canby Group is that rare realtor group who really works for their client and fights for their best interests. They expertly employed resources that best marketed the property, securing the best offer possible."
Buyer | Seller
"OMG! Best real estate agent ever! The sweetest thing they did was leave a bottle of champagne and a welcome card in our new home when we opened the door for the first time. We literally have a soft spot for Travis."
"OMG! Best real estate agent ever! The sweetest thing they did was leave a bottle of champagne and a welcome card in our new home when we opened the door for the first time. We literally have a soft spot for Travis."
Buyer
"Travis Canby and Judith Canby listed and sold my home in the Outpost Estates of Hollywood Hills. They were very professional and knowledgeable. I really enjoyed working with them and would recommend them to anyone."
"Travis Canby and Judith Canby listed and sold my home in the Outpost Estates of Hollywood Hills. They were very professional and knowledgeable. I really enjoyed working with them and would recommend them to anyone."
Seller
"The Canby Group helped me out with a purchase of an investment property. They consistently went above and beyond in making sure I had all the relevant pictures, rental data, inspections, etc for the property to make an informed decision."
"The Canby Group helped me out with a purchase of an investment property. They consistently went above and beyond in making sure I had all the relevant pictures, rental data, inspections, etc for the property to make an informed decision."
Buyer
"I was absolutely blown away by The Canby Group – I had my home on the market for 6 months with another realtor, then Travis and Judith stepped in and generated for me an offer above asking within days. Their marketing is head and shoulders above the rest."
"I was absolutely blown away by The Canby Group – I had my home on the market for 6 months with another realtor, then Travis and Judith stepped in and generated for me an offer above asking within days. Their marketing is head and shoulders above the rest."
Seller
"If you want a realtor who will take great care of you, go the extra mile for you and have some fun with you these two are for you! As a fellow agent in the industry I am always impressed with their creativity, diligence and hard work."
"If you want a realtor who will take great care of you, go the extra mile for you and have some fun with you these two are for you! As a fellow agent in the industry I am always impressed with their creativity, diligence and hard work."
Buyer | Seller
"Excellent Real Estate group! The Canby Group (Travis and Judy) are exceptional people with superlative knowledge when it comes to the real estate market of the LA and Southern California area. They go above and beyond to serve their clients."
"Excellent Real Estate group! The Canby Group (Travis and Judy) are exceptional people with superlative knowledge when it comes to the real estate market of the LA and Southern California area. They go above and beyond to serve their clients."
Buyer | Seller
"Both Travis and Judy are excellent communicators. They truly do their best to work fast at finding exactly what you want. Even when my communication may not be the best, they always stay on top of things. Making appointments and doing extra research on local crime statistics in the areas."
"Both Travis and Judy are excellent communicators. They truly do their best to work fast at finding exactly what you want. Even when my communication may not be the best, they always stay on top of things. Making appointments and doing extra research on local crime statistics in the areas."
Buyer | Seller
"Travis and Judith are a breath of fresh air in today's ultra competitive real estate sales market. As an 'experienced' realtor, it was a pleasure to work with these two young, vibrant, up and coming superstars in the Hollywood Hills Real Estate market."
"Travis and Judith are a breath of fresh air in today's ultra competitive real estate sales market. As an 'experienced' realtor, it was a pleasure to work with these two young, vibrant, up and coming superstars in the Hollywood Hills Real Estate market."
Buyer | Seller
"Travis and Judith are an answered prayer. They sold my great aunt's home in 7 days for over what she wanted. They're just as much about people as they are numbers and are a pleasure to work with."
"Travis and Judith are an answered prayer. They sold my great aunt's home in 7 days for over what she wanted. They're just as much about people as they are numbers and are a pleasure to work with."
Seller
"Being a real estate photographer I meet a tremendous amount of real estate agents. Working with The Canby Group duo, they were ultra professional and a ton of laughs. They made sure everything was beyond perfect for their clients. It's really nice to see agents have a true passion for their work."
"Being a real estate photographer I meet a tremendous amount of real estate agents. Working with The Canby Group duo, they were ultra professional and a ton of laughs. They made sure everything was beyond perfect for their clients. It's really nice to see agents have a true passion for their work."
Real Estate Photographer
"These guys are legit people and professional realtors. They have been helping my clients out like no other real estate agent has, and have given me the best service I could ask for. Very easy to talk to, courteous, and they both have a passion for helping people."
"These guys are legit people and professional realtors. They have been helping my clients out like no other real estate agent has, and have given me the best service I could ask for. Very easy to talk to, courteous, and they both have a passion for helping people."
Business Partner
"I could never praise Travis and Judith enough! When I came to pick up mail I found both in work out clothes and a shovel putting mulch on the bare spots on my yard, trimming the trees and sweeping the decks. All without me ever asking! Their marketing was so good we sold my home 3 days before the first opening house at $15k over asking price! They will be my realtors for life!"
"I could never praise Travis and Judith enough! When I came to pick up mail I found both in work out clothes and a shovel putting mulch on the bare spots on my yard, trimming the trees and sweeping the decks. All without me ever asking! Their marketing was so good we sold my home 3 days before the first opening house at $15k over asking price! They will be my realtors for life!"
Seller
"I had the pleasure of working with Travis Canby and Judith Lovingfoss when selling my home in Burbank. These Realtors are unlike any I've encountered before, their work ethic and communication is impeccable! They fought daily marketing my property and defending the price. Long story short, they sold my home with a record breaking sale for the neighborhood!"
"I had the pleasure of working with Travis Canby and Judith Lovingfoss when selling my home in Burbank. These Realtors are unlike any I've encountered before, their work ethic and communication is impeccable! They fought daily marketing my property and defending the price. Long story short, they sold my home with a record breaking sale for the neighborhood!"
Seller
"We are so lucky to have met this duo! Being new to LA and home buying we needed guidance, education, and someone trustworthy to guide us. Travis and Judy did that and more. Not only did they help us find an amazing home, but we will be friends for life with them and will always remember how knowledgeable and amazing they were in helping us achieve our goal."
"We are so lucky to have met this duo! Being new to LA and home buying we needed guidance, education, and someone trustworthy to guide us. Travis and Judy did that and more. Not only did they help us find an amazing home, but we will be friends for life with them and will always remember how knowledgeable and amazing they were in helping us achieve our goal."
Buyer
"Last year my husband and I started looking for a house that can accommodate our growing family. A friend recommended Travis and Judith so we reached out to them, and I'm so glad we did! We fell in love with them from the very first time we met them and sat down to discuss what type of property we wanted. I couldn't help but notice their enthusiasm and positive energy. All throughout the search process (which took a whole year!) they were always on top of things, always on time, always within reach even though this was a long drive for them. And when we finally found our dream house, they helped us navigate one of the most challenging escrows imaginable. There was not a problem that popped up that they didn't take care of. We ended up buying our dream house and selling our current house in a matter of days."
"Last year my husband and I started looking for a house that can accommodate our growing family. A friend recommended Travis and Judith so we reached out to them, and I'm so glad we did! We fell in love with them from the very first time we met them and sat down to discuss what type of property we wanted. I couldn't help but notice their enthusiasm and positive energy. All throughout the search process (which took a whole year!) they were always on top of things, always on time, always within reach even though this was a long drive for them. And when we finally found our dream house, they helped us navigate one of the most challenging escrows imaginable. There was not a problem that popped up that they didn't take care of. We ended up buying our dream house and selling our current house in a matter of days."
Buyer

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