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Buyer's Guide

Homebuyer's Guide

Buying a home should be 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 homebuyer’s guide created by your agent will reduce the stress of buying a home and help you enjoy the journey.

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Step 1: Compile Your Wish List

Decide which communities, home features, and property types you and your family prefer. Have candid conversations about which of these characteristics are required, and which are “nice to have” in your next home.

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Step 2: Decide on Your Budget

Examine your current expenses and determine how they might change if you purchase a home. Create a comprehensive household budget so you can factor in any new ongoing expenses that might come with a home purchase, such as garbage and recycling, water, or homeowner’s association fees. Once you decide how these expenses will change, you’ll be better equipped to leverage the information you get in step three.

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Step 3: Get Prequalified

Prequalification is a great start for understanding your purchasing power, but it’s not the only factor. A lender may pre-approve you for more than you’re comfortable spending, which is why the budget you compiled in step two is so important. The opposite can also happen, where you believe you can afford a certain payment every month, but the bank doesn’t agree. This often happens when you’re new to your job, have insufficient credit, or have bankruptcies or other financial issues in your history.

You’re not required to stick with this lender when you ultimately finance your purchase, but this process is a great way to vet mortgage providers. Also, a prequalification letter can make you a more competitive candidate in multiple-offer situations.

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Step 4: Choose Your Real Estate Expert

Now it’s time to find your dedicated real estate representative! Regulations enacted in 2024 require real estate agents to obtain a signed buyer’s agreement before showing consumers homes. Of course, your agent does a great deal more than opening up listings; Your agent can help you understand your local market, identify areas and properties that fit your specific criteria, help you create competitive offers that match your financial and logistical needs, and much more.

Dedicated Service, Real Results

Finding the perfect home and navigating the purchase process can be daunting. Leverage my knowledge and expertise and enjoy your personalized real estate journey.

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Step 5: Find the Right Home

Your agent will arrange showings of properties that meet your specific criteria and price range, taking note of your likes and dislikes to further refine their search parameters. Your agent will help you explore the details — from storage to light switches to the flow of a home — and understand the pros and cons of the options in front of you. Your agent will also help you make time to explore the neighborhood and examine elements like local traffic at different times of the day, parking options, and proximity to neighborhood amenities like schools and grocery stores.

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Step 6: Finalize Your Financing

Once you’ve narrowed down your home search, it’s time to go back to the mortgage provider who prequalified you in step three and obtain preapproval. With a property and purchase price in mind, your lender can get much more specific about your interest rate, monthly payments, the term of the loan, and special programs such as first-time homebuyer grants and loans through the VA and FHA. While you will primarily work with your bank to select the right options for you, I'm here (Your agent) to offer support and recommend a mortgage provider I've worked with in the past if you get stuck.

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Step 7: Make an Offer

Once you have selected the perfect home and have your finances in order, your agent will help you craft a fair offer price based on the value of comparable homes on the market. You’ll also work through details such as timing, contingencies, and fees. After your agent submits the offer on your behalf, your agent will help you negotiate counteroffers and reach an agreement with the seller. At this point, the house will go into escrow.

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Step 8: Have the Home Inspected

In most cases, your offer will be contingent on the home passing inspection. This protects you from purchasing a property that has serious structural issues or requires major repairs. Your agent has a list of trusted local providers, but you can hire any licensed home inspector you like. If the inspection uncovers major issues, you can withdraw from the sale or renegotiate your offer based on what needs to be fixed.

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Step 9: Obtain a Home Appraisal

The appraisal ensures that you are paying a fair price for the house. Your mortgage provider will hire an appraiser to inspect the property and offer an independent opinion of its value. Sometimes, appraisals may come in too low, which can impact the amount of money the bank is willing to lend. In this case, your agent can help you determine next steps and navigate the appeal process.

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Step 10: Complete the Paperwork

No one looks forward to all the paperwork stacked up on the closing table, 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 be the legal owner of your new home.

Congratulations!

Once you’ve purchased your new home, you’re free to take the next step on your journey. Whether you’re relocating to a new city, moving into a larger space, or settling into a cozy place to enjoy the next chapter, knowing that every part of your home-buying experience was handled with care brings peace of mind and excitement for the road ahead.

See Why My Clients Love Me

Testimonials

"It impossible to find a better Durham realtor than Tim Hock. I own more than two-dozen rental properties in the area, and I owe many of my best finds to Tim. He has an uncanny sense of which neighborhoods are good investments now, and which will be in two years. Coming from a prominent real estate family, Tim knows most of the movers and shakers in the business and that local insight is invaluable. Since I am not having my morning coffee with developers and other power agents, I want someone who is. That's Tim."
"It impossible to find a better Durham realtor than Tim Hock. I own more than two-dozen rental properties in the area, and I owe many of my best finds to Tim. He has an uncanny sense of which neighborhoods are good investments now, and which will be in two years. Coming from a prominent real estate family, Tim knows most of the movers and shakers in the business and that local insight is invaluable. Since I am not having my morning coffee with developers and other power agents, I want someone who is. That's Tim."
Jason C.
"We would highly recommend Tim Hock to anyone looking to buy a home in Durham. We moved here from out of state and were on a tight timeline, and we were so glad we had Tim to help us through the process. His knowledge of Durham is impressive, and he worked tirelessly to find us a house so we could get moved in on time. When we found the house we wanted, he helped us navigate (and win!) a multiple-offer situation and we’re thrilled with the house we’re in. And most importantly, he’s a trustworthy and genuinely kind person - we’d go back to him in a heartbeat."
"We would highly recommend Tim Hock to anyone looking to buy a home in Durham. We moved here from out of state and were on a tight timeline, and we were so glad we had Tim to help us through the process. His knowledge of Durham is impressive, and he worked tirelessly to find us a house so we could get moved in on time. When we found the house we wanted, he helped us navigate (and win!) a multiple-offer situation and we’re thrilled with the house we’re in. And most importantly, he’s a trustworthy and genuinely kind person - we’d go back to him in a heartbeat."
Howe
"Among the many good agents I've worked with, what I appreciate about Tim the most is his responsiveness. He understands that in a market as hot as Durham, one has to act quickly and decisively. We were often the very first people to arrive at new listings. In addition, his many years of experience meant that I rarely felt my time was wasted with an inappropriate viewing."
"Among the many good agents I've worked with, what I appreciate about Tim the most is his responsiveness. He understands that in a market as hot as Durham, one has to act quickly and decisively. We were often the very first people to arrive at new listings. In addition, his many years of experience meant that I rarely felt my time was wasted with an inappropriate viewing."
Chen Q.
"Tim is simply the best. His knowledge of real estate is impressive and his negotiation skills are remarkable. Tim is also honest, kind, and has old-school work ethic. As I told him many times during my home purchasing process, Tim is a gem!"
"Tim is simply the best. His knowledge of real estate is impressive and his negotiation skills are remarkable. Tim is also honest, kind, and has old-school work ethic. As I told him many times during my home purchasing process, Tim is a gem!"
Dr. Jill R.
"Tim was amazing at helping me find my first home in Durham. He knows the city and its real estate market like the back of his hand. He dive deep to gather the relevant data to put together an offer, and patiently zoomed in or out as I needed it to fully understand the process, the home, and the market. I heard about Tim from a friend and can't wait to recommend him to someone else."
"Tim was amazing at helping me find my first home in Durham. He knows the city and its real estate market like the back of his hand. He dive deep to gather the relevant data to put together an offer, and patiently zoomed in or out as I needed it to fully understand the process, the home, and the market. I heard about Tim from a friend and can't wait to recommend him to someone else."
Emily S.
"I cannot say enough good things about our experience working with Tim. We looked for at least a year before finally purchasing our home in April 2019. Tim was so patient with us as we waited for what we wanted and was not pushy, but supportive of us finding our perfect home, and was really just a pleasant person to work with. When we did find a home, he was great in the negotiation process, offering advice when needed, but letting us ultimately make the decisions. He has a lot of experience and truly knows how to play the game, what to pay attention to, and is so on top of all the steps needed to close on time. Tim was so responsive whenever we had questions or concerns. When closing day came and the house had not been properly cleaned (this should have been the responsibility of the listing agent), he pulled some strings and got a cleaning service in last minute because he wanted us to move into a clean home."
"I cannot say enough good things about our experience working with Tim. We looked for at least a year before finally purchasing our home in April 2019. Tim was so patient with us as we waited for what we wanted and was not pushy, but supportive of us finding our perfect home, and was really just a pleasant person to work with. When we did find a home, he was great in the negotiation process, offering advice when needed, but letting us ultimately make the decisions. He has a lot of experience and truly knows how to play the game, what to pay attention to, and is so on top of all the steps needed to close on time. Tim was so responsive whenever we had questions or concerns. When closing day came and the house had not been properly cleaned (this should have been the responsibility of the listing agent), he pulled some strings and got a cleaning service in last minute because he wanted us to move into a clean home."
Buyer
"We were first time home buyers entering an extremely strong seller's market - decent houses were going fast and for well over asking price. We have two small children, so the stress of finding the right house was compounded by the fact that we needed search quickly, or face the wrath of two babies passed their nap time. Tim was gracious enough to take us on as clients after many months of frustration. He turned the process of looking for a house into one of disappointment to enjoyment as soon as we met for the first time. Tim's positive energy throughout the house hunt helped us look at each house with an open mind, which was a breath of fresh air. His wisdom in terms of ways to make an old house "home" with suggestions for remodeling, landscaping, etc, also contributed to infusing enthusiasm into the whole process, which we were certainly lacking before we met Tim. He was extremely patient with us, and was always accommodating to ourax sometimes bizarre schedules, trying to work around the babies' needs. Bottom line: Tim makes the process fun and it is clear he cares his clients find the right house. We recently closed on a dream home, and received a very fair deal thanks to Tim's help in setting a fair offer. The pitfalls along the way are plenty, but we are so lucky to have had Tim's help along the way."
"We were first time home buyers entering an extremely strong seller's market - decent houses were going fast and for well over asking price. We have two small children, so the stress of finding the right house was compounded by the fact that we needed search quickly, or face the wrath of two babies passed their nap time. Tim was gracious enough to take us on as clients after many months of frustration. He turned the process of looking for a house into one of disappointment to enjoyment as soon as we met for the first time. Tim's positive energy throughout the house hunt helped us look at each house with an open mind, which was a breath of fresh air. His wisdom in terms of ways to make an old house "home" with suggestions for remodeling, landscaping, etc, also contributed to infusing enthusiasm into the whole process, which we were certainly lacking before we met Tim. He was extremely patient with us, and was always accommodating to ourax sometimes bizarre schedules, trying to work around the babies' needs. Bottom line: Tim makes the process fun and it is clear he cares his clients find the right house. We recently closed on a dream home, and received a very fair deal thanks to Tim's help in setting a fair offer. The pitfalls along the way are plenty, but we are so lucky to have had Tim's help along the way."
Dr. Bobby
"I am very impressed with Tim Hock's skills, knowledge, and experience in marketing historic properties in one of Durham's most desirable neighborhoods - Old North Durham. I cannot thank Tim enough for how he so professionally and expertly represented me and my real estate interests at 304 E. Geer Street. Tim greatly exceeded my expectations in every way, and I'm looking forward to working with him in the future."
"I am very impressed with Tim Hock's skills, knowledge, and experience in marketing historic properties in one of Durham's most desirable neighborhoods - Old North Durham. I cannot thank Tim enough for how he so professionally and expertly represented me and my real estate interests at 304 E. Geer Street. Tim greatly exceeded my expectations in every way, and I'm looking forward to working with him in the future."
Chanteleur
"Tim was patient and knowledgeable as we looked for a house for over a year with him. He found us houses that we would have missed based on searching on the internet on our own, and was always available for a (last-minute) showing. Tim really showed his value after we found the house we wanted to buy - from negotiations through inspections to closing - he helped tremendously during a stressful and confusing time. I definitely recommend Tim for house hunting in Durham."
"Tim was patient and knowledgeable as we looked for a house for over a year with him. He found us houses that we would have missed based on searching on the internet on our own, and was always available for a (last-minute) showing. Tim really showed his value after we found the house we wanted to buy - from negotiations through inspections to closing - he helped tremendously during a stressful and confusing time. I definitely recommend Tim for house hunting in Durham."
Andy G.
"After seeing how Tim had handled two other sales on my block, I knew he was the person I wanted to handle the sale of my house. I was very impressed by how quickly these houses were sold. So as it happened I got the best of both worlds because Tim also helped me to find my new house which being new construction and this was unchartered waters for me. Tim's knowledge and expertise made both transactions happen with relative ease and I am so grateful for his advise and guidance. He is definitely my go to person when it comes to real estate transactions. Thanks Tim!"
"After seeing how Tim had handled two other sales on my block, I knew he was the person I wanted to handle the sale of my house. I was very impressed by how quickly these houses were sold. So as it happened I got the best of both worlds because Tim also helped me to find my new house which being new construction and this was unchartered waters for me. Tim's knowledge and expertise made both transactions happen with relative ease and I am so grateful for his advise and guidance. He is definitely my go to person when it comes to real estate transactions. Thanks Tim!"
Ruth W.
"I have worked with Tim on several real estate sales. I think he is one of the most knowledgeable agents on the downtown Durham market. On several occasions I have sought him for knowledge of the local market and to price homes. I strongly recommend Tim."
"I have worked with Tim on several real estate sales. I think he is one of the most knowledgeable agents on the downtown Durham market. On several occasions I have sought him for knowledge of the local market and to price homes. I strongly recommend Tim."
Mea S.
"Tim has been excellent to work with and has an extensive knowledge of the Durham area. We have purchased a couple investment properties with him, previously in Durham and most recently in Hillsborough. We looked at many listings and placed offers on a few that didn't go through and each was handled very well. Any questions or concerns that came up during the buying process were promptly and thoroughly addressed."
"Tim has been excellent to work with and has an extensive knowledge of the Durham area. We have purchased a couple investment properties with him, previously in Durham and most recently in Hillsborough. We looked at many listings and placed offers on a few that didn't go through and each was handled very well. Any questions or concerns that came up during the buying process were promptly and thoroughly addressed."
Suzanne D.
"Tim has been my realtor for two home purchases now. Both were great experiences. He was extremely responsive and quick to take action on any problem or question that came up. Another great thing about him is that he provides great information when viewing a potential house without being very pushy. He was on top of the process every step of the way, and I never had any surprises come up during the process for either house. On top of all that he is quick with a joke in the right situation. Great realtor!"
"Tim has been my realtor for two home purchases now. Both were great experiences. He was extremely responsive and quick to take action on any problem or question that came up. Another great thing about him is that he provides great information when viewing a potential house without being very pushy. He was on top of the process every step of the way, and I never had any surprises come up during the process for either house. On top of all that he is quick with a joke in the right situation. Great realtor!"
Noah S.

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