understanding today’s home buying process

A home most likely the biggest purchase YOU will ever make. Understanding the

process will help YOU be completely prepared and understand the process

from beginning to closing.

Know YOUR Real Estate Professional

Who is working for YOU?

The Listing AgentIs contracted to work for the Seller not YOU! Has the Sellers best interest in mind. The name and number on signs/ads. Is a sales person.

YOUR Buyer’s Agent

Is contracted to work for YOU the Buyer. Has YOUR best interest in mind. FREE! – paid by the Seller at closing. Is YOUR consultant not a sales person. Has access to all homes on the market. Protects YOUR best interest with the

purchase of a ‘For Sale by Owner’ Represents YOU, not the builder with the

purchase of a New Construction Home.

YOUR Axillary Team

YOUR Lender YOUR Home Warranty Company YOUR Inspector YOUR Insurance Agent YOUR Title Company

Understanding YOUR MarketBuyer’s Market vs. Seller’s

Market The number of homes on the market is down! When inventory is low, demand goes up! When demand goes up, prices go up! The List Price to Sales Price average is less

than 2%, with many homes selling at or above list price. At times, within hours of listing.

YOUR Pre-Approval This is YOUR 1st and most important step

in the home buying process. It turns YOU into a cash Buyer and gives

YOU leverage. Gives YOU confidence in choosing the

home that’s priced right for YOU.

YOUR Down Payment YOUR lender will require a minimum of 3.5%

down for an FHA loan and 3% or more for a conventional loan. VA and USDA programs have specific eligibility requirements. YOU will need to consult with YOUR lender to choose a lending program that is right for YOU.

YOUR Closing Costs YOUR lender will require YOU to put a

percentage of “pre-paid’s” in an escrow account at closing. This is YOUR taxes and insurance hold until due as well as other required fees averaging 4-6% or more.

Shopping for YOUR New Home

With the ability to pre-view homes online or with my app, the average Buyer looks at as few as 8 homes before find the right one.

No home is perfect, but I want YOU to love it.

YOUR feedback is important while we are looking.

YOUR Earnest Money YOUR check will be present along with a

copy of YOUR pre-approval letter with all offers. It will be cashed upon acceptance and placed in escrow by the Title Company.

YOUR earnest money amount will be at least 1% or more of the offer price.

YOUR Option Period The fee paid to the Seller to take the home

off the market for YOUR inspector to have access to the home for inspections, for YOU to review the Sellers Disclosure and survey. YOUR Real Estate Professional will help

YOU determine the amount and time, depending on the market activity and timing. Amounts and time vary from $100-500 for 3-10 days.

YOUR Home Inspection YOUR inspection is for Major items only!

(issues that YOU would walk away from the purchase of this home, not cosmetic items that should be expected)

YOUR inspectors fees should range from $350-450, with additional charges for pools, terminate and septic systems.

YOUR Loan Approval YOUR lender will require 30-45 days to

process YOUR loan completely. Please get all required documents to YOUR

lender ASAP to ensure they are able to get YOUR loan processed before closing.

Do not make any credit or large financial decisions without speaking to YOUR lender first.

YOUR Appraisal Fee YOUR lender will require an appraisal of

the home to make sure YOU don’t over pay, this fees should range between $350-400

This fee is paid to YOUR lender after the option period.

YOUR Home Owner Insurance

YOU will need to begin choosing a Home Insurance Company as soon as YOUR offer has been accepted.

YOUR Utilities YOU will need to contact the utility

companies 1-2 days before the contracted closing date to pay deposits and turn on utilities.

YOUR ClosingYOUR Title Company has prepared all of the required documentation to finalize the purchase of YOUR new home.

Closing is the date for all parties to sign the required documents

Funding is when money is been transferred to all parties

Access to YOUR NEW HOME is only after funding is complete

Closing dates and funding are often delayed so DO NOT schedule to move into YOUR NEW HOME the day of closing.

My Goal asYOUR Real Estate Professional

Represent YOU by having YOUR best interest in mind not “sell” YOU.Provide YOU guidance and resources in the current market to find, not only a home but a community YOU will love.Proactively negotiate YOUR offer to secure a home YOU want.Coordinate YOUR transaction start to finish.Make the process as smooth as possible for YOU!

YOUR Realtor®

Jan J Kelley Keller Williams Realty Preferred Realtor with the Veterans Land Board, Certified Negotiating Expert Cell/Text: (972) 400-1885 Email: janjkelley@kw.com

www.JanJKelley.com