Buying a home
How We Help You Buy a Home in the OKC Metro
Most agents send you everything and wait for you to pick. We work out exactly what you want, then go find it. Here's how we help you buy, start to close.
How we help you buy: the short version
Most agents set up an automatic search, send you everything that matches a price and a bedroom count, and wait for you to pick. We do it differently. We figure out exactly what you're looking for, and then we go find it. We ask you very specific questions, and we're honest that no house is 100 percent. When we find one that's 95 percent or better, we start talking about whether it's the one to write an offer on.
The steps below are the real conversation that comes before any search. They run in four stages: Ready, Educated, Aligned, and Locked.
Ready
Pre-approved and represented before we tour anything, so you can act the day the right one appears instead of scrambling.
Educated
What your money actually buys here, before you fall in love with something out of range.
Aligned
Fewer homes, and better ones. We build the search on your real criteria and tell you what we think of each one.
Locked
Offer strategy, inspections, financing and closing, run so the ending is boring.
Ready: why you're moving and what matters
We start with a free consultation. From there we work toward getting you pre-approved, so we know your buying power before we start looking. Then we get to know why you're moving, what's wrong with where you are now, and what a good day in the next house looks like. Most agents ask for beds, baths, and price. We ask what you'd miss if it were gone.
Then we separate what you need from what you want. Everything gets sorted into must-haves, deal-breakers, and nice-to-haves, and we push on the ones that don't hold up. Sometimes a must-have turns out to mean something else. "I need a big kitchen" can really mean "I need room to entertain," and that changes what we look for. A buyer, or a couple, usually ends up very clear on what they want, what's negotiable, what would be nice, and what is absolutely necessary to make a home work for how they live.
Educated: understanding what you're buying
You don't have to love the house. You have to understand it. That's where our backgrounds matter. Mark knows new construction, builders, acreage, and waterfront. Kelli's design and builder background means she reads what's behind the walls, not just the staging. Between us we have more than 40 years in building, lending, and real estate.
Every home we send comes with a plain opinion: this one fits because of this, and this one doesn't, and here's why. If a house looks good but has a problem, we'll tell you before you fall for it. A good acreage property or a quirky home often doesn't tag cleanly in a search, so we also look beyond the automatic alerts, at what's coming and what's quietly available. See new construction, acreage and land, waterfront homes, and homes with character for what we look at in each.
Aligned: a narrow search that gets sharper
Before we search, we say it back to you. We write up what we heard and check it with you: here's what we think you're looking for, did we get that right? If we got it wrong, we find out now, not after twenty showings.
Then we build a narrow search around your real criteria, not a wide net of price and bedrooms. Most of what hits the market isn't for you, and you shouldn't have to dig through it to find that out. We send you a few homes at a time, not a flood. Every reaction teaches us something. When you say no to a house, we ask why, and the next round is sharper. By the third round, we usually know your taste better than you could describe it. When we tour, we tour with a purpose, and we only show what's worth your time.
Locked: from accepted offer to closing
Once an offer is accepted in Oklahoma, the earnest money is submitted and we move toward inspections. If you're financing, the lender orders the appraisal and you pay the lender for it. A financed closing usually takes about 30 to 40 days.
In Oklahoma, a title company closes the deal, and the choice of title company is yours. Sometimes title has already been started at a title company the seller chose, but you have the option of moving it if you'd rather use another. We keep you posted at every step, and if something comes up, you'll hear it from us first, with the facts and our recommendation.
Talk to Mark and Kelli before you start looking, or call the team line at 405-593-8326. You can also read more about The Osterman Team, or see buying a home.
This page describes our general process. It isn't legal, tax, or lending advice, and the timeline and costs of any purchase vary.
Pre-approval: what lenders look at
Unless you are paying cash, you need to know the loan amount you qualify for. We connect you with a lender, who works out how much a bank will lend you. Lenders use different words for it: pre-qualified, pre-approved, or a fully underwritten pre-approval. A good lender will explain your financing options, what your down payment and closing costs will be, and a pre-approval puts you in a stronger spot when you make an offer.
Here is what matters to a lender:
- Your credit. A good credit score helps you get better terms.
- Job history and stability. A steady history with the same company or in the same field is ideal, though career advancement can also work.
- Debt-to-income ratio. The lender weighs your income against your debts, plus the new loan payment, property taxes, insurance and other housing costs, to decide how much you can afford.
- Your funds. The lender verifies your down payment, closing costs and cash reserves.
- The property. An appraisal by a certified appraiser checks the home's condition, value and marketability, so the loan has enough behind it.
Don't worry if you do not meet every guideline. Lenders work with many circumstances and loan products, and we will help you find the right fit. You can also see our buying resources.
While your loan is in process: what not to do
Applying for a home loan is sensitive. Until you close, please avoid these:
- Big purchases. A new car, furniture or appliances can change your debt-to-income ratio and keep you from qualifying.
- Paying off debt on your own. Ask your loan officer first. They may prefer you keep the debt and keep more cash in reserve.
- Running your own credit report. It shows up on your lender's report and may need a written explanation.
- Moving money around or consolidating bills. Transfers between accounts look like new deposits and can complicate the file.
- Changing jobs. Your lender checks your employment again just before funding, and an undisclosed change can put your loan at risk.
If you need to move money or change something in your finances, talk to your lender first.
Making an offer: accept, counter or reject
We give you our advice, and you choose the price. When you send an offer, the seller can answer three ways.
- Accept. You are in contract.
- Counter. The seller pushes back on the price or other terms. If you accept the counter, you are in contract. If you counter back, there is more negotiating to do.
- Reject. The seller says no. Either side can still reopen the conversation later with better terms.
Negotiating is where our relationships with other agents and our experience count. In a multiple-offer situation, we look at the market, current rates and your buying power to build the strongest offer that still makes sense for you. We work with your lender and title company, and your attorney if you use one, to walk you through the contract and disclosures so your interests are protected.
From contract to keys: inspections, loan and closing
Once you are in contract, there is still work to do.
- Inspections and investigation. You will receive disclosures and reports on the home and the area. Look into everything that matters to you. Once you are satisfied, you will be asked to remove your inspection contingency by the deadline in your contract.
- Loan underwriting. The lender may ask for more documents and will order an appraisal.
- Title company and closing. A neutral third party, in Oklahoma usually a title company, holds the funds and documents until every condition in the contract is met, then the sale closes.
- Final walk-through. We walk the home with you just before closing.
- Final approval and signing. The lender gives final approval, you sign the last documents, the funds are delivered and you get your keys.
If the seller did not agree to buy you a home warranty as part of the offer, now is a good time to buy one yourself. After you move in, we are still your resource for contractors, designers, painters, plumbers and even house-sitters.
Ready to start? Talk to Mark and Kelli, or call the team line at 405-593-8326.
Frequently Asked Questions
How is working with you different from other agents?
Most agents send you everything and wait for you to pick. We work out exactly what you want, then go find it, and we send a few homes at a time with our honest opinion of each.
How do we get started?
With a free consultation. Then we work toward getting you pre-approved, so we know your buying power before we start looking.
How long does closing take in Oklahoma?
If you're financing, closing is usually about 30 to 40 days after an accepted offer.
Who closes a home purchase in Oklahoma?
A title company. The choice is yours. Sometimes title has already been started at a company the seller chose, but you can move it to one you prefer.
Who pays for the appraisal?
If you're financing, you pay the lender for the appraisal, and the lender orders it.
Keep exploring
Ready to make your move with The Osterman Team?