I'm a Buyer. Guide Me.

Request Our One Page Buyer's Guide

I'm a Buyer. Guide Me.

Request Our Proprietary 'Transaction Process Map'

Guiding You at Every Stage

A Step-by-Step Buyer's Guide

Buying a home should feel exciting - not overwhelming. Our Buyer’s Guide is designed to walk you through every step with clarity and confidence, whether you're a first-time buyer, upgrading, or relocating. From understanding the market to navigating financing and inspections, we break it all down in a simple, approachable way. With the Live Traverse City team by your side, you’ll have the knowledge, strategy, and local expertise you need to find the right home and make a smart, stress-free move.

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STEP 1

Understand why you're buying

Before you ever talk numbers, it’s important to understand why you’re buying. Are you looking for more space, a better location, an investment, or a lifestyle shift? Clarity on your motivation helps shape your search, guides your priorities, and ultimately influences what a realistic budget looks like. When you know the “why,” the “how much” becomes a lot easier - and your home search becomes far more focused and successful. Let's sit down over a coffee for 15-20 minutes and go over your why. Click here for a free coffee!

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STEP 2

Decide on Your Budget

Determining your budget is one of the most important steps in the buying process. It gives you a clear, realistic picture of what you can comfortably afford - not just the purchase price, but taxes, insurance, and monthly expenses. We’ll help connect you with trusted local lenders who can walk you through pre-approval, explain different loan options, and outline what your payments will look like at various price points. With a solid budget in place, you can shop with confidence and move quickly when the right home hits the market.

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 change your budget.

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STEP 3

Get Pre-Approved

Getting preapproved is a key step that strengthens your position as a buyer. It shows sellers you’re serious and financially ready, and it helps you understand exactly what you can borrow. During preapproval, a lender will review your income, credit score, debt, employment history, and bank statements to get a full picture of your financial health. Once approved, you’ll have a clear price range and can move fast when you find the right home. This pre-approval ensures that you're prepared to be competitive in a competitive market. 

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STEP 4

Finding the right property

Finding the right property is a team effort. We’ll set up personalized searches and send you homes that match your criteria the moment they hit the market - sometimes even before. But you can look online too, and whenever you see a listing you like, just send it our way. We’ll dig into the details, check availability, and schedule showings. Together, we make sure no opportunity slips through the cracks.

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STEP 5

Make an Offer

Writing an offer is where your home search becomes real. Once you find the property you love, we’ll help you craft a strong, competitive offer based on market data, recent sales, and the seller’s situation. We walk you through price, contingencies, timelines, and any strategic terms that can make your offer stand out. Our goal is to position you to win while protecting your best interests every step of the way.

A standard offer typically includes four key documents:

i. Lender Preapproval or Proof of Funds

ii. Purchase Agreement

iii. Property Disclosures

iii. Agency Disclosures

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STEP 6

Negotiate the Contract

People are stubborn...

Negotiations often happen in several rounds, so patience is key.

In today's market, there are often multiple offers on the same property. There are multiple ways in which we can make our offer more attractive than others. We will help you!

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STEP 7

Deposit Earnest Money

An Earnest Money Deposit shows the seller you’re serious about buying their home. It’s a good-faith payment, securely held in Remax's escrow account, that applies to your purchase price at time of closing. This deposit gives the seller confidence in your commitment, while still protecting you with the contingencies outlined in your offer. In short, it strengthens your position without locking you into anything beyond the terms you’ve agreed to. This is typically 1% of the price of the home. Unless negotiated otherwise, your EMD is due to Remax within 3-5 days. This can be a check mailed to the office at 500 S Union Street, Traverse City, MI 49686, or we can send you a link to make an online transfer.

if you've made it this far, you're almost there...

just a few more steps

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STEP 8

Get the Home Inspected

The main goal of a home inspection is to identify any significant issues that aren't obvious at the time of showing and ensure you’re making a well-informed decision with all the important details. A “major defect” is anything that could impact the future value or safety of your home. If a major defect is discovered, you have several options:

  • Ask the seller to complete the repair before closing

  • Request a credit so you can handle the repair after closing

  • Accept the issue and take responsibility for the repair after closing

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STEP 9

Get Home Appraised + Final Loan Approval

Once you’re under contract, your lender will order an appraisal to confirm the home’s value matches the purchase price. This protects both you and the lender by ensuring you’re not overpaying. After the appraisal and a final review of your income, credit, and financial documents, your lender issues final loan approval - also known as “clear to close.”

This step is essentially the green light that everything checks out and you’re fully approved to move forward with the purchase of the property. You're in the home stretch!

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STEP 10

Prepare for closing

During the week of closing, you will need to:

  • Transfer utilities
  • Obtain repair verification (if any repairs were requested after the inspection of the home)
  • Review the settlement statement
  • Wire closing funds to title company. The lender will give you exact amount prior to closing. Always confirm wire instructions with the title company before sending funds.
  • Do a final walkthrough of the property to ensure no catastrophic incident has occurred
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STEP 11

get the keys!

 

Closing is the final step of the journey - where everything becomes official and you finally get the keys. It’s a pretty straightforward and exciting appointment. You’ll meet at the title company to review and sign the final loan documents and verify your information. The title company will walk you through each document, answer questions, and make sure everything is accurate.

Who attends? We will be! Additionally, all buyers on title or mortgage, sometimes the sellers, and the title company’s closing representative

Where does closing typically take place? At the title company location

How long does closing typically take? One hour

What do you bring? Two forms of identification

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STEP 12

Stay in Touch

Even after closing, we’re still here for you! Whether you need contractor recommendations, market updates, help figuring out your home’s value, or you’re thinking about your next move - we’re just a call or message away. Staying connected helps us continue supporting you long after the keys are in your hand.

c'mon is it that easy?!

Although buying a property is slightly more complicated than a 12-step process, we are confident that we will make it as seamless and stress-free as possible. You will walk away satisfied and impressed with our commitment to you.
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Contact Details

LIVE TRAVERSE CITY

(231) 499-9999
[email protected]

901 South Garfield Avenue
Suite 202
Traverse City, MI 49686