A Step-by-Step First Time Buyer's Guide

Buying a property is one of the most exciting milestones of their life. To prepare themselves for this moment, they need to know what to expect during the process. The step-by-step first-time buyer's guide created by their agent will help reduce the stress of buying a property and allow them to enjoy the journey as much as possible.


Step 1: Research

Do they already know where they want to buy? If they want a condo, townhome, or single-family? Which features do they like and dislike? What’s available on the market now? If they answered no to any of these questions, now is the time for them to start researching. In addition to looking for properties that interest them, they should also take note of any changes in asking prices. This could provide them with valuable insight into housing trends in specific neighborhoods and assist them in making an offer.


Step 2: Decide on Your Budget

Notice he said to decide on their budget—not determine how much the mortgage company will give them. In many cases, a mortgage company will pre-approve them for more than they’re comfortable spending, which is why they need to determine the monthly payment they 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 they move into your new property. If they’ve lived in an apartment or with roommates, they may overlook new expenses like garbage, water, or HOA fees that could easily blow their budget.


Step 3: Get Prequalified

Just because they think they can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve them for too large of an amount, they may also approve them for a lesser amount or deny them 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 they get your heart set on a property, talk to a mortgage professional to find out what amount they can qualify for. This will also be an advantage when they make an offer on a property, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.


Step 4: Choose a Real Estate Agent

Can they shop for, look at, and ultimately make an offer on a property without a real estate agent? Technically yes, but why would they when it costs them nothing for an agent like him to take much of the stress off your shoulders? Not only will he help identify properties they might be interested in, arrange showings, and ultimately handle the offer process, but he also has a knowledge of the market that they don’t possess. Finding the perfect property can be a daunting task, this is where his expertise and wealth of knowledge come into play. Let him show them around some properties that meet their dream property criteria so they can find the one that's right for them.

Ahmed's goal is to provide them with the most personalized service that is designed to help them buy their dream property


Step 5: Find the Right property

This should be the most enjoyable step of the entire process (other than moving in!). He will arrange showings of properties they’re interested in that are within their price range. Take notes about what they 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 their inspection to the property 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.


Step 6: Make an Offer

Once they have selected the perfect property, work with their agent to craft a fair offer based on the value of comparable property on the market. Depending on what the property is listed at and whether the current environment is a buyer’s or seller’s market, their offer may be below, at, or even above the asking price. He will be able to help them negotiate if they receive a counteroffer and reach an agreement. At this point, the house will go into escrow.


Step 7: Have the property Inspected

In most cases, their offer will be contingent on having the property inspected to ensure there is no major structural damage or large repairs needed. He can help them arrange this, and they can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, they can renegotiate their offer based on what needs to be fixed, or they 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 them and choose their mortgage. They will be presented with various options based on their unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with their mortgage lenders to select the option they feel the most comfortable with.


Step 9: Get a property Appraisal

Their lender will have their new property 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.


Step 10: Finish Paperwork

No one looks forward to all the paperwork involved in buying a property, but it’s a necessary part of the process. Fortunately, everything will be arranged by their lender and title company and, when they’re finished, they’ll know they are the legal owner of their new property.


After signing the final paperwork to complete the purchase, they are now the property owner. It may take a few days for their loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, they’ll be all set to move into the property of their dreams.

Awn K.
Dean M.
ST. M.
Bradley S.
I first met Ahmed in 2005 when I moved to NYC after graduating University to start my first job. He was very accommodating and patient in showing me numerous apartments in the area I was interested in, until he found me the perfect place. Years later, he remains not only my exclusive agent but a long time friend I call family. He had supported me for many years renting out and managing the condo I own ti...

— Awn K. | Exclusive Lessee & Lessor

Working with Ahmed was an exceptional real estate agent experience. We worked with Ahmed as buyers’ agent on a purchase, and then based on our experience there, as a sellers agent for our other property. During the purchase experience he was personable, knowledgeable, and always available for us to ask questions, visit, and revisit the property, and worked well mediating and managing communication betwee...

— Dean M. | Condominium Buyer | Multi-family Building Seller

Ahmed, I think you should advance to upper management and teach this course (what you have stated so coherently and patiently below) – to those who would enter the real estate industry by whichever means (broker, client, landlord, management co.). I want to thank you most sincerely for taking the time to patiently explain all of that to me. Because I really was NOT understanding the concept of: "sending ...

— ST. M. | Residential Lessee

I have worked together with Ahmed twice now. First - finding a place in the city when i moved here (not knowing anyone I worked with many other brokers starting off - Ahmed being the best by far). Second - subleasing my place while I am on sabbatical. Long story short, he gets things done. He is very organized, reliable, detail oriented, knows all the buildings, and dialed-in so he knows about special de...

— Enno | Residential Luxury high-rise lessee - Lease Assignment

Ahmed did an excellent job representing us in our sale. He knows the Riverside Blvd market very well and he was very thorough and diligent in his role as our agent. He is very responsive, attentive to concerns, and he makes sure to represent his clients' best interests. I highly recommend him to anyone looking at buying or selling real estate on Riverside Blvd. You will not be disappointed. David

— David | Luxury High-rise Condominium Seller

Hi Ahmed, Want to thank you again for your: time, energy, taxis, smoothie, effort, research, care, attention, steadiness, kindness, generosity, assertiveness, detail, responsiveness, and 5-star treatment passion for what you do. All of those things made my experience today exceptional. Endless thanks, Karen

— Karen | Ultra Luxury Residential Lessee

The move went well and everything is great with the apartment. I'm really happy with the place and appreciate all of your help in finding it. Thanks Again.

— Samantha | Luxury Residential Lessee

In case any of you are having trouble finding a place in NYC, I wanted to recommend the real estate broker I used. He came highly recommended by a family friend, and in turn I thought I'd recommend him to you. It was much easier than going at it alone. His business is built on making his clients happy and finding them what they want, and he did both for me. Give him a call if you're interested.

— Bradley S. | Luxury Residential Lessee

Work With Ahmed

He is a longtime sales professional whose expert results have earned him a fine reputation for quality service, responsiveness, and follow-through.