Northwest Indiana Realtor | Shanna Schweitzer

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First-Time Home Buyer's Guide

Smart, Strategic Home Buying.

Before we begin touring homes, there are a few required steps that help establish your financing position, clarify our working relationship, and ensure you are fully prepared to move forward as a first time home buyer.

These steps protect you, improve efficiency, and allow us to act quickly when the right home becomes available.

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Step 1: Required First Time Buyer's Documents

Get Pre-Approved

Before viewing homes, you will need to speak with a licensed lender and obtain a mortgage preapproval, or provide proof of funds.

Preapproval helps determine your purchasing power and ensures we focus on homes that align with your financial qualifications.

It also strengthens your position when submitting an offer, as sellers will not entertain offers without it.

Buyer Exclusive Agency Contract

This agreement establishes our professional relationship and explains how I represent your interests throughout the home buying process.

Representation: I serve as your buyer’s agent, providing guidance, market insight, and advocacy during your home search and purchase.
Home Search Support: I help identify properties, schedule showings, evaluate options, and guide you through decision-making.
Compensation Transparency: This agreement explains how brokerage services are compensated, ensuring full transparency.
Communication: You can expect clear communication, timely updates, and professional guidance throughout the process.
Professional Scope: I provide real estate guidance. Legal, tax, and inspection advice is provided by licensed professionals in those respective fields.

Office Policy

This document explains how our brokerage represents clients, outlines agency relationships, and defines our legal duties and responsibilities to you.

AFFILIATED Business Disclosure

This disclosure informs you of any business relationships our brokerage may have with lenders or service providers. You are not required to use any affiliated provider, and you are free to choose the professionals you prefer.

Northwest Indiana Realtor - Shanna Schweitzer

Define Your Vision

You do not need every detail figured out right away. The goal of this step is to establish direction and clarity so your first home search is focused and aligned with your priorities.

We begin by understanding your budget, preferred locations, and how your home will support your lifestyle and long-term goals.

Every buyer’s situation is different, and this process helps ensure we are searching intentionally and efficiently.

Consider the following questions:

Where do you want to be?
What does “home” look like in this season of your life?
Are you buying space… stability… freedom… proximity?
What can you afford comfortably without stress?
What matters most when the excitement wears off?

Buyer Intake Form

Define Your Vision

This optional questionnaire is designed to help you clarify your priorities, distinguish needs from preferences, and identify what matters most in your home search.

Completing this step allows me to better understand your goals so I can present homes that align with your criteria, budget, and timeline.

This step is optional but recommended, as it helps create a more focused and efficient home search experience.

Buyer Intake Form

Touring Homes

Define Your Vision

Touring Homes

Touring homes is an exciting step, and a little preparation helps ensure the experience is efficient, productive, and informative.

Before each tour, we will confirm how many homes we are viewing and plan accordingly. Travel time and the time spent inside each property can add up quickly, so having a clear plan allows us to stay focused and intentional.

Every home is unique. When touring properties, we are

entering someone else’s private space, so we approach each showing with professionalism and respect.

As a general guideline, you can expect to:

Remove shoes when requested. You are welcome to bring socks or shoe covers for comfort.
Avoid discussing detailed opinions or strategy while inside the home. Many properties have audio or video recording devices, and we will review observations privately afterward.
Be aware that pets may be present. While most sellers secure animals during showings, this cannot always be guaranteed.

Step 3: Under Contract Phase

Earnest Money

Home Inspection

Earnest money is a deposit submitted by you, the buyer, with your offer to show serious intent to purchase the home.

The earnest money is held in an escrow account and is applied toward your closing costs or down payment at closing.

Your earnest money is generally protected when contract contingencies are met, such as:

Inspection contingency
Appraisal contingency
Financing contingency

If a contract is terminated according to its terms, earnest money is typically returned to the buyer.

Home Inspection

A home inspection is a professional evaluation of the property’s condition. Buyers typically complete inspections within the timeframe specified in the purchase agreement.

The inspection may review:

Structural components
Roof and foundation
Electrical and plumbing systems
HVAC systems
Major visible safety or functional concerns

After the inspection, buyers may:

Proceed with the purchase
Request repairs or concessions
Or terminate the contract within contingency timelines

Inspections are intended to provide information so buyers can make informed decisions.

Appraisal

Home Inspection

Appraisal

An appraisal is completed by a licensed third-party appraiser to determine the home’s market value. This protects both the buyer and lender by ensuring the purchase price aligns with market conditions.

The appraisal confirms:

The home's estimated market value
That the property meets basic lending guidelines

If the appraisal meets or exceeds the purchase price, the transaction can proceed as planned.

If the appraisal is lower than the purchase price, options may include:

Renegotiating the purchase price
Buyer covering the difference
Or contract termination based on contingency terms

Step 4: Clear to Close

The Closing Table

“Clear to Close” means all lender requirements and contract terms have been satisfied, and the transaction is approved to proceed to closing.

Before Clear to Close is issued, the following are typically confirmed:

Financing approval is finalized
Title work is completed and clear of unresolved issues
Any agreed-upon repairs or contract terms have been addressed
Appraisal and underwriting requirements are satisfied
Closing documents are prepared

At this stage, your closing date, time, and location are confirmed.

A final walkthrough is usually completed shortly before closing to verify the home’s condition and confirm agreed terms have been met.

First-Time Home Buyer's Guide

Smart, Strategic Home Buying.

Explore Our Neighborhoods

Step 1: Required First Time Buyer's Documents

Get Pre-Approved

Buyer Exclusive Agency Contract

Office Policy

AFFILIATED Business Disclosure