Buying Your First Home in North Idaho
I explain every step of your first purchase before you take it.
Every Step Explained Before You Take It
Your first home purchase comes with a lot of new words: pre-approval, earnest money, contingency period, appraisal, title. None of them are hard once someone explains them, and you shouldn't have to sign anything you don't understand.
I take first-time buyers through each step before it happens, so you always know what's next and why it matters. No question is too basic to ask me.
Ask Me Your First Question
Where First-Time Buyers Start
Talk to a lender first. If you're getting a loan, a lender tells you what you can borrow. Many loan programs allow far less than 20% down, and a local lender can give you your real monthly payment. I can introduce you to local lenders.
Decide what you want to spend. What you can borrow and what you're comfortable paying each month aren't always the same number. The second one is the one that matters.
Understand the Idaho paperwork. Before we tour homes, I walk you through Idaho's agency disclosure, which is not a contract, and a short written agreement for touring homes. Compensation is negotiable and always agreed in writing.
What Happens After You Make an Offer
- Earnest money. You put down earnest money to show you're serious. There's no set amount. It depends on the price of the home, and the title company holds it.
- Inspections. Your Inspection Contingency Period is your window to inspect the home. I attend inspections in person and go over the findings with you.
- Your loan and appraisal. Your lender finalizes your loan, and the home is appraised. I track the deadlines and keep you informed.
- Closing. A title company handles closing in Idaho. You sign, and the keys are yours.
I tell you what I see, even when it isn't what you were hoping to hear. It's my job to help protect your earnest money, even if that means ending a contract and finding you a better home. The full process is on how I help you buy a home in North Idaho.
After You Move In
Owning a home comes with its own set of firsts: the first furnace service, the first repair, the first property tax bill. Idaho's homeowner's exemption lowers the taxable value of your primary residence when you live there more than six months of the year, and you apply after you buy. I'm still your resource after closing, with my list of local contractors and handymen and an answer when you're not sure who to call.
Frequently Asked Questions
Do I need 20% down to buy a home?
Not usually. Many loan programs allow far less than 20% down. A local lender can tell you your real options and monthly payment.
What is earnest money?
A deposit you put down with your offer to show you're serious. There's no set amount, and the title company holds it.
Who handles closing in Idaho?
A title company.
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Ready to make your move with Maddy Sells North Idaho?