A BUYER'S GUIDE

THE ROAD HOME

A chapter-by-chapter guide to buying in Chester County.

WELCOME

WELCOME TO THE JOURNEY

Buying a home is an exciting chapter, but it can also feel overwhelming. That is why I created this guide: to give you a clear path through the questions, decisions and details that bring you from just looking to welcome home.

My 31 years as a Chester County educator shape how I work. I believe my job is to guide, educate and empower you, not simply to sell you a home. You should understand the road ahead and feel confident in each decision along the way.

Think of The Road Home as your syllabus. We will move chapter by chapter, from just looking to welcome home, with a steady plan and a trusted guide beside you.

Colleen Johnson, REALTOR®

HOW TO USE THIS GUIDE

TEN CHAPTERS, ONE STEP AT A TIME

The ten steps below are the chapters of the Road Home. We will work through them one at a time, in order. Each step has a summary you can skim on a busy day. Nothing needs memorising.

THE ROAD HOME

THE TEN STEPS

A clear sequence for the decisions, conversations and details that carry you home.

Find the Right Agent

The purchase of a home is significant, so having an experienced agent in your corner matters. A buyer agent's fiduciary duty is to represent and protect the buyer. A seller already has someone in their corner: the listing agent. That agent owes allegiance to the seller and aims to get the seller top dollar. Having someone working for your interests means you have an advocate who can help you understand the process and make informed decisions.

STEP SUMMARY

Getting You in the Door
Handling Challenging Conversations
Staying on Top of the Paperwork
On Your Side
Neighborhood Expert
Problem Solver

Affordability. Buyer-agent compensation is negotiable and agreed in a written buyer-agent agreement signed before touring begins. It is not automatically paid by the seller. A seller may contribute, and that contribution is negotiated in the offer. I explain it in writing so there are no surprises.

Discuss budget

Research area neighborhoods

Set wants & needs

Prepare Finances

How much house can you afford? Lenders generally advise not buying above 3–5 times your annual household income. A mortgage pre-approval is needed if you are not paying cash. Some buyers prioritise low monthly payments, while others want payments that never increase.

Check your credit and look for simple ways to improve your score: pay down card balances, pay on time, do not apply for new credit or a car loan before approval, avoid large purchases before approval, and avoid job changes before approval if possible.

Save cash for your down payment, earnest money and closing costs. A down payment is typically 3.5% to 20% of the purchase price. Earnest money is the good-faith deposit showing you are serious. Buyer closing costs generally run 2% to 5% of the loan amount, but vary by loan type and location, so confirm your own figure with your lender.

As my buyer client, you do not budget for the home inspection because I cover it.

STEP SUMMARY

Set a budget
Review your credit
Save for your down payment, earnest money & closing costs

Get Pre-Approved

Pre-approved is different from pre-qualified. You are actually approved by a lender for a specific loan amount, and you provide documented financial information for verification, including income, statements, assets, debt and credit reports.

STEP SUMMARY

Meet with a lender
Prepare your credit
Set a budget

Getting Qualified

Qualifying Income

W-2 income/salary
Income from part-time jobs
Income from a second job
Overtime
Income from rental properties when documented, for example a lease and proof of receipt
Seasonal jobs
Self-employed income
Alimony and child support with documentation required

Non-Qualifying Income

Income from the lottery
Gambling
Unemployment pay
Non-occupying co-signer income
Unverifiable income

Documents Needed

W-2s from the past 2 years
3 months of pay stubs
Bank statements for the past 3 months
The previous 2 years of tax returns
A list of your debts and assets
Divorce decree
Additional income documents

Start Home Shopping

It is time to tour homes within your price range. We will take and review notes together. Once we find the right home, we will present an offer based on recent sales, current buyer activity in the area and the property's value in its current condition. Negotiations may follow.

Evaluate the Neighborhood and Surrounding Areas

Every buyer's priorities differ, so weigh a neighborhood against what matters most to you. I give you the facts about an area and never steer buyers toward or away from a neighborhood based on any protected characteristic.

Is the surrounding homes' condition well maintained?
How much traffic is on the street?
Is it conveniently located to schools, shopping, restaurants and parks?

STEP SUMMARY

Tour homes
Adjust criteria if necessary
Research comps in the area

Make an Offer

When should you make an offer, and how much should you offer? We use recent sales, current buyer activity and the property's present condition. We will submit an offer and look at what makes it more appealing.

Put Your Best Foot Forward

You may have only one chance to make a good impression.

Put Down a Healthy Earnest Deposit

Cash Talks

A transaction not dependent on loan approval is more attractive to a seller.

Shorter Inspection Periods

Try shortening to 7 days.

Offer to Close Quickly

Many sellers prefer closing within 30 days.

After you submit, the seller could accept, decline if your offer is not close enough to their expectations to negotiate further, or counter-offer. If the seller counters, you can accept, decline or counter the counter, going back and forth as many times as needed until you reach agreement or someone walks away.

If your offer is accepted, you sign the purchase agreement and are officially under contract. You then enter the contingency period, during which inspections, appraisals and anything else in your agreement take place.

STEP SUMMARY

Work with your realtor to set up the best offer
Negotiations may occur
All negotiations are finished
Both parties have signed contract

Order an Inspection

During the inspection period, we schedule an inspection with a reputable home inspector for a thorough investigation. The inspector provides findings. You can take issues as-is or ask the seller to address some or all of them. I am mindful and reasonable on smaller items while cautious and vigilant on potentially significant issues.

Issues typically arise after the inspection and tend to lead to another round of negotiation for credits or fixes. Also during this period, a property title search confirms the seller truly owns the property and discloses existing liens, loans or judgments. Homeowner's insurance is needed before closing and protects against things like fire, storms and flooding.

STEP SUMMARY

Professional inspects the property
Discovers issues that may need to be worked into the purchase agreement
Negotiate repairs

Negotiate Final Offer

Ask for credit for work that needs doing. The seller likely least wants to do repair work, so think big picture and do not sweat the small stuff. A tile needing caulking or a leaky faucet is easily fixed. Repairs remain negotiable, and a small credit may help with closing costs.

STEP SUMMARY

Issues typically arise after the home inspection
Negotiate credits or repairs with the seller
Reach a final agreed offer

Appraisal Ordered

The lender arranges an independent third-party appraiser to estimate the value of the home, so all parties know the price is fair. The loan file then moves to the mortgage underwriter. If approved, you receive the final commitment letter with final loan terms and percentage rates.

STEP SUMMARY

Professional ensures the property is worth the loan and purchase price you agreed to pay

Schedule the Move

Use this timeline to keep the practical details moving at the right time.

At Contract / After Signing

Contact utility companies, including water, electric and cable
Change your address for mailing, subscriptions and the like
Schedule movers or a moving truck
Finalise the home mortgage
Schedule the home inspection

4 Weeks to Move

Declutter, sorting through every drawer, closet, cupboard and shelf and removing items you no longer need or like. Donate or sell items in good condition.
Get copies of medical records and store them with other important documents.
Create an inventory of anything valuable you plan to move.
Get estimates from moving companies.
Give 30 days notice if you are currently renting.
Schedule movers or a moving truck.
Buy or find packing materials.
Start packing.
Arrange the appraisal.
Complete the title search. The title company does this.

3 Weeks to Move

Secure home warranty.
Get quotes for home insurance.
Schedule time for closing.
Contact utility companies.
Change your address.
Minimise grocery shopping.
Keep on packing.

2 Weeks to Move

Obtain certified checks for closing.
Schedule and attend a final walkthrough.
Finish packing.
Clean.
Pack essentials for a few nights in the new home.

1 Week to Move

Confirm the delivery date with the moving company.

STEP SUMMARY

Finalize home mortgage
Schedule home inspection
Change address
Contact utilities

Closing Day

Closing is when you sign ownership and insurance paperwork and receive your keys. It typically takes four to six weeks, with purchase funds held safely in escrow until the transaction completes.

Closing Disclosure

Lenders must provide it at least three days before closing. It shows final loan terms and closing costs, and gives you three days to review. It exists so there are no surprises at the table. If there is a significant discrepancy between the loan estimate and the closing disclosure, notify the lender and title company immediately.

Final Walkthrough

The final walkthrough is done within 24 hours of closing and takes about an hour. Check the property's condition and confirm any agreed repair work was completed.

Make sure all appliances are working properly
Run the water in all the faucets and check for possible leaks
Open and close garage doors with the opener
Flush toilets
Run the garbage disposal and exhaust fans

STEP SUMMARY

Final walk-through
Sign closing documents
Receive your keys

At the Closing Table

Closing typically happens at the title company. Be ready to sign a lot of paperwork, including the deed of trust, promissory note and other documents.

Who Will Be There

Your agent
The seller
The seller's agent
A title company representative
Your loan officer
Any real estate attorneys involved

Closing Costs

Closing costs vary by loan type and location and can sometimes be shared with the seller. You will review the closing disclosure together so you know what to expect.

Bring to Closing

Government-issued photo ID
A copy of the sales contract
The homeowner's insurance certificate
Proof of funds to cover the remainder of the down payment and closing costs

Receive Your Keys

Congratulations, you are officially homeowners.

ONE UNIFIED TEAM

ONE UNIFIED TEAM OF EXPERTS

Real estate involves many moving parts, mortgages, inspections, title work, insurance and more. Long & Foster brings it together under one roof. The team works so buying or selling is smooth and designed around you.

WHAT TO EXPECT

FROM INITIAL CONTACT TO CLOSING AND BEYOND

I am backed by a family of companies working together on financing, insurance, settlement, property management and more. My goal is to deliver an experience that exceeds expectations, acting as your single point of contact throughout the buying process.

REVIEWS

WHAT CLIENTS SAY ABOUT THE ROAD HOME

A few words from clients who have trusted Colleen with a move.

Five Stars! Amazing Out-of-State Experience

Buying a home sight-unseen sounds terrifying, but working with Colleen made it an absolute breeze. Moving from out of state, we had to rely completely on her local expertise. She guided us to the perfect neighborhood, provided incredibly thorough virtual tours, and gave us the honest feedback we needed to confidently make an offer without being there in person. Colleen's market knowledge and smooth navigation through the closing process were unmatched. We are officially moved in, absolutely thrilled with our new home, and cannot recommend her highly enough!

First-Time Buyer

Just bought my first house with Colleen! She was fantastic! Answered any questions I had along the way and was very helpful. Made the process very smooth!

A Joy to Work With

Colleen was a joy to work with! She was patient, knowledgeable and caring. May others looking for a home be blessed to have her guide you through the process.

Selling an Inherited Home

When I inherited my home, I felt overwhelmed by the thought of selling it. Fortunately, I had the privilege of working with Colleen. She guided me through each step of the process, making everything make sense and significantly easing my anxiety. Her expertise in marketing and pricing strategies, combined with her excellent negotiation skills, led to an incredible outcome: we received an offer at asking price in just four days and closed the sale in under 30 days. I couldn't be more grateful for her dedication and professionalism. Colleen made a potentially stressful experience smooth and successful. I highly recommend her to anyone looking to buy or sell a home.

Informative and Kind

Colleen was very informative, she took her time with me to explain this process thoroughly even when I asked her the same questions . She is very professional and I really appreciated her kindness ... Great job Colleen!

Fifteen Years of Trust

Colleen teaches with my wife. We have known Colleen, her husband and son for 15 years. She is someone my wife and I would trust to help manage a life change in moving and selling our home.

An Estate Sale, Masterfully Handled

Colleen Johnson is amazing! She listened to my needs and was very intentional in her strategy to ensure the optimal result for me in selling a property that was part of an estate. She is informed and insightful with masterful marketing, pricing and negotiating skills. Through her expertise, we received an offer on the property at the asking price, and within an incredible four days of it being listed. To top that - closing was within thirty days, beginning to end!! Throughout the process, Colleen assured me that no question was too naive or nonsensical, and she happily guided me through the terminology and expectation of each step. The professionalism she exhibited while safeguarding my wishes as her first priority was exceptional. If you are looking for a realtor who keeps abreast of the industry, in both a nuanced and well-defined approach, makes you the top priority and gets the job done, her name is Colleen Johnson. I highly recommend her to anyone looking to buy or sell a home.

A Painless Relocation

Had a great experience. I relocated temporarily for my job and Colleen made the transition truly painless. She was helpful, polite, attentive and very accommodating throughout the process. I told her if my relocation turns permanent, I would be calling her for help house hunting! Highly recommend.

YOUR NEXT STEP

LET'S TALK ABOUT THE ROAD HOME

You have walked through all ten steps of the Road Home, from finding the right agent to the day you receive your keys. Buying is a chapter-by-chapter journey, and you do not have to read ahead. The next step is simple: schedule a time to talk. Call 610-850-4808 or email info@colleenjohnson.realtor and start with your questions, no pressure and no jargon, just a plan.

Let's Talk Browse homes on Long & Foster

EQUAL HOUSING OPPORTUNITY. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.

Pennsylvania law requires that a Consumer Notice be provided to a buyer at first contact, and that a written buyer-agent agreement be signed before services begin. Colleen Johnson will provide both and answer any questions.

We do business in accordance with the Federal Fair Housing Law. Housing is offered without regard to race, color, religion, sex, handicap, familial status, or national origin.

Market conditions change daily. This data is for informational purposes and should be verified with Colleen Johnson, a licensed real estate professional.

PENNSYLVANIA REAL ESTATE LICENSE #RS370297