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Buyer's Guide

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

Buying a home should be one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first-time homebuyer’s guide created by our team will reduce the stress of buying a home and help you enjoy the journey.

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Step 1: Compile Your Wish List

Buying a home should be one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first-time homebuyer’s guide created by our team will reduce the stress of buying a home and help you enjoy the journey.

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Step 2: Decide on Your Budget

Examine your current expenses and determine how they might change if you purchase a home. Create a comprehensive household budget so you can factor in any new ongoing expenses that might come with a home purchase, such as garbage and recycling, water, or homeowner’s association fees. Once you decide how these expenses will change, you’ll be better equipped to leverage the information you get in step three.

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Step 3: Get Prequalified

Prequalification is a great start for understanding your purchasing power, but it’s not the only factor. A lender may pre-approve you for more than you’re comfortable spending, which is why the budget you compiled in step two is so important. The opposite can also happen, where you believe you can afford a certain payment every month, but the bank doesn’t agree. This often happens when you’re new to your job, have insufficient credit, or have bankruptcies or other financial issues in your history.

You’re not required to stick with this lender when you ultimately finance your purchase, but this process is a great way to vet mortgage providers. Also, a prequalification letter can make you a more competitive candidate in multiple-offer situations.

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Step 4: Choose Your Real Estate Experts

Now it’s time to find your dedicated real estate representative! Regulations enacted in 2024 require real estate agents to obtain a signed buyer’s agreement before showing consumers homes. Of course, we do a great deal more than opening up listings; we can help you understand your local market, identify areas and properties that fit your specific criteria, help you create competitive offers that match your financial and logistical needs, and much more.

Dedicated Service, Real Results

Finding the perfect home and navigating the purchase process can be daunting. Leverage our knowledge and expertise and enjoy your personalized real estate journey.

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Step 5: Find the Right Home

Your agent will arrange showings of properties that meet your specific criteria and price range, taking note of your likes and dislikes to further refine their search parameters. They’ll help you explore the details — from storage to light switches to the flow of a home — and understand the pros and cons of the options in front of you. They’ll also help you make time to explore the neighborhood and examine elements like local traffic at different times of the day, parking options, and proximity to neighborhood amenities like schools and grocery stores.

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Step 6: Finalize Your Financing

Once you’ve narrowed down your home search, it’s time to go back to the mortgage provider who prequalified you in step three and obtain preapproval. With a property and purchase price in mind, your lender can get much more specific about your interest rate, monthly payments, the term of the loan, and special programs such as first-time homebuyer grants and loans through the VA and FHA. While you will primarily work with your bank to select the right options for you, we’re here to offer support and recommend mortgage providers we’ve worked with in the past if you get stuck.

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Step 7: Make an Offer

Once you have selected the perfect home and have your finances in order, your agent will help you craft a fair offer price based on the value of comparable homes on the market. You’ll also work through details such as timing, contingencies, and fees. After your agent submits the offer on your behalf, they will help you negotiate counteroffers and reach an agreement with the seller. At this point, the house will go into escrow.

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Step 8: Have the Home Inspected

In most cases, your offer will be contingent on the home passing inspection. This protects you from purchasing a property that has serious structural issues or requires major repairs. We have a list of trusted local providers, but you can hire any licensed home inspector you like. If the inspection uncovers major issues, you can withdraw from the sale or renegotiate your offer based on what needs to be fixed.

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Step 9: Obtain a Home Appraisal

The appraisal ensures that you are paying a fair price for the house. Your mortgage provider will hire an appraiser to inspect the property and offer an independent opinion of its value. Sometimes, appraisals may come in too low, which can impact the amount of money the bank is willing to lend. In this case, your agent can help you determine next steps and navigate the appeal process.

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Step 10: Complete the Paperwork

No one looks forward to all the paperwork stacked up on the closing table, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company. And, when you’re finished, you’ll be the legal owner of your new home.

Congratulations!

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

Client Reflections

Testimonials

"Gama Group is the best realty I´ve found in Brooklyn. They were great, always ready to help, returning calls and emails pretty fast, and doing whatever it took to find the right home. The team is attentive, very friendly, and helpful. All the staff were very, very professional. Being helped by them to find a new home has been an excellent experience. Next time I need a broker, I will count on them again, no doubt about it!"
"Gama Group is the best realty I´ve found in Brooklyn. They were great, always ready to help, returning calls and emails pretty fast, and doing whatever it took to find the right home. The team is attentive, very friendly, and helpful. All the staff were very, very professional. Being helped by them to find a new home has been an excellent experience. Next time I need a broker, I will count on them again, no doubt about it!"
Rafael M.
"Purchased a home from Gama Group previously back in 2015, and recently was looking for a bigger place, so I reached back out to them, and once again, they were fabulous! The team was very thorough, listened to my credentials, and found me another amazing home! It's so nice to have a reliable realty office in Brooklyn that cares about their clients' needs and isn't looking to deceive anyone!"
"Purchased a home from Gama Group previously back in 2015, and recently was looking for a bigger place, so I reached back out to them, and once again, they were fabulous! The team was very thorough, listened to my credentials, and found me another amazing home! It's so nice to have a reliable realty office in Brooklyn that cares about their clients' needs and isn't looking to deceive anyone!"
Tali L.
"I had a great experience working with Gama Group. They helped me sell a property in an upcoming neighborhood where the market can be a little difficult to price. I would highly recommend working with this agency. Very responsive as well as strong knowledge and network within the Bay Ridge and Bensonhurst area!"
"I had a great experience working with Gama Group. They helped me sell a property in an upcoming neighborhood where the market can be a little difficult to price. I would highly recommend working with this agency. Very responsive as well as strong knowledge and network within the Bay Ridge and Bensonhurst area!"
Brian D.
"We used Gama Group to find an apartment in Bay Ridge, and man, did Gabriel Lian do an awesome job finding exactly what we dreamed of. A friend and I came to NYC looking for apartments in mid-July, since we start school in September. We spent a week with two other brokers/salespersons, and we ended up wasting our time. They tried to push us into closing as quickly as possible on places that we truly had little interest in. They were "okay" apartments, but our hearts were just not for them until we found Gabe at Gama Group (through NakedApartments)."
"We used Gama Group to find an apartment in Bay Ridge, and man, did Gabriel Lian do an awesome job finding exactly what we dreamed of. A friend and I came to NYC looking for apartments in mid-July, since we start school in September. We spent a week with two other brokers/salespersons, and we ended up wasting our time. They tried to push us into closing as quickly as possible on places that we truly had little interest in. They were "okay" apartments, but our hearts were just not for them until we found Gabe at Gama Group (through NakedApartments)."
Austin J.
"I moved from Brooklyn to Staten Island. Many thanks to the agency and especially agent Moe. He immediately showed that for him, work is more than renting out an apartment and getting money. He did everything to help me move in without any difficulties and was always in touch, answering my questions. He introduced me to my new house and new neighborhood and gave advice. I recommend everyone to work with the Gama Group agency. Thank you."
"I moved from Brooklyn to Staten Island. Many thanks to the agency and especially agent Moe. He immediately showed that for him, work is more than renting out an apartment and getting money. He did everything to help me move in without any difficulties and was always in touch, answering my questions. He introduced me to my new house and new neighborhood and gave advice. I recommend everyone to work with the Gama Group agency. Thank you."
Iryna Y.
"The best real estate company in bay ridge area! It was very helpful to work with Adam; he did a really great job getting approval for my application!"
"The best real estate company in bay ridge area! It was very helpful to work with Adam; he did a really great job getting approval for my application!"
Erin K.
"I had the pleasure of working with Moe from the Gama group. As a first-time renter, I was extremely nervous about the process. Not only did Moe walk me through the process, but I also felt that, unlike other realtors, he also took his time to show me places that met my requirements. Their effort and patience helped ease the stress of moving. Less than a month later found a great apartment! Would 100% recommend this group and Moe!"
"I had the pleasure of working with Moe from the Gama group. As a first-time renter, I was extremely nervous about the process. Not only did Moe walk me through the process, but I also felt that, unlike other realtors, he also took his time to show me places that met my requirements. Their effort and patience helped ease the stress of moving. Less than a month later found a great apartment! Would 100% recommend this group and Moe!"
Elisha D.
"I had a great experience working with Gama Group! Our realtor, Moe, was extremely patient and thorough, and helped us land and sign an apartment in less than a week. He made the process so easy for us, and truly made us feel good about where we are moving. I highly recommend!"
"I had a great experience working with Gama Group! Our realtor, Moe, was extremely patient and thorough, and helped us land and sign an apartment in less than a week. He made the process so easy for us, and truly made us feel good about where we are moving. I highly recommend!"
Jillian A.
"Moe is the most patient and calming professional that ever existed. Moe jumps through hoops and goes above and beyond, all the while calming any fears that I had. I cannot say enough positive words about Moe. We hit some snags, and he sailed right through our transaction, never batting an eye, and all the while keeping a positive attitude. Did I mention he was calm through every one of my questions, and boy did I have questions. A man of upstanding character and professionalism, I feel as if I made a new friend. I trusted him from day one. Moe was always there for me until fruition. Thank you, Moe! I cannot thank you enough! My daughter loves her new home. You’re #1 in my book. I wish I could tell the world."
"Moe is the most patient and calming professional that ever existed. Moe jumps through hoops and goes above and beyond, all the while calming any fears that I had. I cannot say enough positive words about Moe. We hit some snags, and he sailed right through our transaction, never batting an eye, and all the while keeping a positive attitude. Did I mention he was calm through every one of my questions, and boy did I have questions. A man of upstanding character and professionalism, I feel as if I made a new friend. I trusted him from day one. Moe was always there for me until fruition. Thank you, Moe! I cannot thank you enough! My daughter loves her new home. You’re #1 in my book. I wish I could tell the world."
Debra M.
"Adam proved to be an outstanding real estate agent. His deep understanding of the market and empathetic approach were invaluable. He listened attentively, offering tailored advice that made the complex process seem manageable. Adam's communication was exceptional, always clear and considerate of our situation. He demonstrated professionalism in every aspect, especially in negotiations, ensuring everything was handled smoothly. We are deeply grateful for Adam's dedication and support. His ability to balance professionalism with empathy made a significant difference. We highly recommend Adam for anyone seeking a reliable and caring real estate agent."
"Adam proved to be an outstanding real estate agent. His deep understanding of the market and empathetic approach were invaluable. He listened attentively, offering tailored advice that made the complex process seem manageable. Adam's communication was exceptional, always clear and considerate of our situation. He demonstrated professionalism in every aspect, especially in negotiations, ensuring everything was handled smoothly. We are deeply grateful for Adam's dedication and support. His ability to balance professionalism with empathy made a significant difference. We highly recommend Adam for anyone seeking a reliable and caring real estate agent."
Alina K.
"I have been working with Moe to find an apartment on Staten Island. He was extremely professional, honest, and prompt. It is very rare to find individuals in real estate who truly care about what you’re looking for and are knowledgeable about their properties. I was able to sign a lease within about a week of working with him. He has answered every question and concern with honesty. I’ve had an incredible experience and would recommend not only Moe but this company to anyone looking for an honest, easy experience. Looking forward to working together again in the future!"
"I have been working with Moe to find an apartment on Staten Island. He was extremely professional, honest, and prompt. It is very rare to find individuals in real estate who truly care about what you’re looking for and are knowledgeable about their properties. I was able to sign a lease within about a week of working with him. He has answered every question and concern with honesty. I’ve had an incredible experience and would recommend not only Moe but this company to anyone looking for an honest, easy experience. Looking forward to working together again in the future!"
Gee M.
"I have never worked with such a genuine and professional team. Adam and Moe made themselves available on short notice and worked tirelessly to find us the right apartment. They were understanding of our ‘must haves’ and the area we wanted to look in; most importantly, we never had an apartment pushed on us we didn’t want to see. I also really valued their personable approach and keeping in touch via text and phone as often as needed; this made the process easier to navigate as they reassured us constantly through to the lease signing. I will definitely be working with them again and recommend them as an honest, hard working and reliable team. You won’t regret working with these guys!"
"I have never worked with such a genuine and professional team. Adam and Moe made themselves available on short notice and worked tirelessly to find us the right apartment. They were understanding of our ‘must haves’ and the area we wanted to look in; most importantly, we never had an apartment pushed on us we didn’t want to see. I also really valued their personable approach and keeping in touch via text and phone as often as needed; this made the process easier to navigate as they reassured us constantly through to the lease signing. I will definitely be working with them again and recommend them as an honest, hard working and reliable team. You won’t regret working with these guys!"
Buyer

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