Ep 61: Back to the Basics – The Homebuyer Dictionary

If you are new to the homebuying process or just a need a refresher, this episode runs through all of the steps to buying a home and explains all the key terms you’ll need to know.

On This Episode:

Buying a home will be one of the most rewarding experiences of your life, but it can be overwhelming to a first-time buyer.

We want to get back to the basics on this episode of Keeping it Real Estate so we’ll be walking you through every step of the process. From getting pre-approved for a loan to moving day, find out all about closing costs, due diligence, earnest money, and loans.

Plus, Colleen has an update on the real estate market in Oregon and what questions her team has been getting quite often since the pandemic.

Listen to the full episode or click on the timestamps below to hear a specific segment.

[1:24] – What’s new in the real estate market in the area?

[4:44] – A lot of people asking about mortgage relief, forbearance, the CARES Act.

[7:11] – We’re going back to the basics on today’s show.

[7:34] – Prequalification and pre-approval

[9:42] – The different types of loans and mortgages.

[11:59] – What is the MLS?

[14:42] – Due diligence and earnest money.

[17:55] – Making an offer.

[19:18] – The process between the offer and closing.

[22:00] – Closing costs

[26:10] – Moving day

Colleen Quotes:

“The best part of the job is handing keys to a happy, new homeowner.” – Keeping It Real Estate Podcast

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Show Host

Colleen Benson

Colleen is a licensed Principal Broker in the State of Oregon. She has more than 20 years of experience as a Realtor and has helped build the top Keller Williams team in Salem. Her tremendous team now serves buyers and sellers throughout the Willammette Valley and the Oregon coast. She is the host of the Keeping It Real Estate radio show on 104.3 FM KSLM. The show plays Saturdays and Sundays at 1pm and has been on the air since January of 2019. Don't hesitate to reach out to Colleen if you have any questions about buying or selling real estate in the area!​

Helpful Resources

Home Selling Guide

Thinking about selling your home? Download this helpful guide to learn the 4 questions you to ask yourself.

Home Buying Guide

Thinking about buying a home soon? Download this helpful guide to understand the most important steps.

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