HOME BUYER GUIDE

SETTING YOUR GOALS

MAKING AN OFFER

Finding your Agent.As you prepare to take the first step in theHome Buying process, you will need anAgent who you can trust, who has yourbest interests in mind. I will be workinghard to make certain that everything is asrewarding as possible, guiding you everystep and making sure that your needsand desires are met.

Get Pre-qualified. We will provide information regardinglenders that are experienced in many typesof loans, programs and solutions for youlending needs. Finding the lender with theright loan and program can be as importantas finding the right home.

Counter Proposal.Any item in your contract offer can becountered. It may be as simple as a datechange, pricing, inclusions or terms. Ifagreeable to all parties the signed CounterProposal will place the property UnderContract.

You found that home – Now what?We will contact the Listing Agent andcheck the status of the home and see what the options are for making an offer. If the Seller is accepting offers a Contract to Buy and Sell will be generated.

Lending Requirements.We will be in communication with yourLender and obtain a Prequalification Letter for the exact amount of the offer. The lender will need to know taxes, pricing and HOA fees for desktop underwriting approval. A letter will be included with your contract and a copy of the Earnest Money.

Reviewing the Offer.We will go over the Contract Offer withyour. Names, title information, and items tobe included, excluded and contract dates.There may be additional disclosures toreview as well. Once all documents aresigned, the Contract Documents, EarnestMoney Check and Lender Letter are sent tothe Listing Agent and Seller for their review.

Earnest Money Check.We will provide a copy of the EarnestMoney check with the Contract offer. Ifyour offer is accepted, the check will bedelivered on the date as noted in your offer. The check will not be deposited or given toanyone prior to that specific date.

Define your perfect home and create yourhome search.We listen to your needs and wants. Wetake your pricing, location, and needs andestablish realistic results with your wants inmind. We will also make recommendationsbased upon knowledge of areas that youmay not be aware of with pricing, amenitiesand options you had not considered.

What is your time frame? Do you need time get your current homeready to sell, or is your lease almost up.Let’s establish a game plan with what yourcurrent needs are today.

OFFER ACCEPTED –CONGRATULATIONS YOU ARE UNDER CONTRACT!

Inspection.As the buyer you have the opportunity to hire a professional inspector to evaluate the condition of your home. An inspector will check the structure, construction and mechanical systems of the house. This usually includes: Electrical, plumbing, disposal, water heater, insulation, ventila-tion, HVAC System, water source, foundation, floors, windows, ceilings, walls, floors, and roof. Other types of tests that are available are: Radon Gas, Lead Paint, Sewer, and Termite.

Contract Accepted – Now What?Once we have received notification from the Listing Agent of the accepted offer, we will look for the signed contract documents and disclosures. All parties to the contract will now work towards the closing date. The Lender will now be notified and you will work towards providing documents for loan approval. Your Transaction Manager will work with all parties to coordinate documents and dates.

Final Loan Approval. As you prepare for the closing of your new home you have been working with your Lender, the Title Company and by now should have a good idea of all costs needed for closing. The lender will be working with you closely to ensure all required documents are in as well as preparing final figures.

Appraisal.Once you have determined that there are no defects on title and all inspection concerns have been resolved, it is time to order an appraisal. An appraisal is an estimate of the value of a property made by a qualified professional. Although the primary goal of the appraisal is to justify the lender’s investment, it also protects you from overpaying. Your lender will generally hire the appraiser and will charge you as the buyer a fee for the service. If the appraisal falls short of the amount you wish to borrow you may be refused a mortgage or offered a smaller amount on the mortgage. Your offer contract will be contingent on whether the appraisal comes in at or above the purchase price you and the seller have agreed upon.

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Items needed for closing.Verify with your lender and/or closing agent any other items that you need to bring with yousuch as a valid driver’s license or other form of identification.

Review the Settlement Statement or HUD1.Your lender or closing agent will provide you 1 to 2 days before closing. These documentswill contain a detailed description of all costs associated with the transaction, including theexact dollar amount you will need to bring to closing.

Contact your local service providers of your current and new home locations.Water and sewer may be handled directly with your Title Company. Your electric, gas, phone,internet, and cable providers should be contacted no later than five days prior to your move date.

Conduct a walkthrough of the property prior to closing.This will give you an opportunity to see that the condition of the house is the same as it wasat the time of contact. Additionally, you will be able to ensure that any repairs agreed to bythe seller, based on the inspection, have been completed.

PREPARING FOR SMOOTH CLOSING