why use a buyer’s agent?

8/14/2019 Why Use a Buyers Agent?

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A buyers agent represents the buyer who is purchasing property in a real estatetransaction. o a buyers agent, you are the client, not a customer. Your

buyers agent works on your behal only, bearing your best interests in mindthroughout the entire process.

Evaluate the specic needs and wants o thebuyer and locate properties that t thosespecications.

Assist the buyer in determining the amount

that they can aord (pre-qualiy) and showproperties in that price range and locale.

Assist in viewing properties accompanythe buyer on the showings, or preview theproperties on behal o the buyer to ensurethat the identied specications are met.

Research the selected properties to identiyany problems or issues to help the buyer

make an inormed decision prior to makingan oer to purchase the property.

Advise the buyer on structuring anappropriate oer to purchase the selectedproperty, including an analysis o its marketvalue

Present the oer to the sellersagent and the seller on the buyers

behal.

Negotiate on behal o the buyer to helpobtain the identied property keepingthe buyers best interests in mind.

Coordinate any appropriate inspections.

Assist in securing appropriate nancing orthe selected property.

Provide a list o potential qualied vendorsi any services are needed.

Most importantly, ully represent the buyerthroughout the real estate transaction.

My goal when you purchase your homewith me is to provide you with a positiveexperience rom beginning to end. I willcounsel and guide you each step o the wayutilizing my knowledge and experience. I

will not pressure, push or direct you intomaking any decisions.

As a result o my eorts your real estatetransaction will leave you with assurance,

enthusiasm and a serene level o comort.

A Buyers Agent will:

}Total Commitment Proven Performanc

SEVE BABBIBroker Associate

Oce: 585 389-1092Cell: (585) 230-4707E-mail: [email protected]

Steve, Jr.

Sharon Steve

Why Use A Buyers Agent?


2/24

Condential home search consultation to

determine needs and desires.

Pre-qualiy you or a mortgage.

Select and review homes.

Write an oer to purchase.

Negotiate agreement.

Work to satisy contingencies.

Home inspection (optional).

Mortgage loan application.

Mortgage approval.

Good aith estimate o closing costs.

itle received and reviewed by attorney. Assist you to obtain homeowners insurance.

Utilities transerred - seller and buyer

to make calls to transer.

Escrow/Settlement or closing.

Possession.




Steve, Jr.

Sharon Steve

Home Purchase Process(Pre-Buyers Packet)


3/24

1. Schools 1 2 3 4 5

2. Down Payment 1 2 3 4 5

3. Monthly Payments PII 1 2 3 4 5

4. Closing Costs 1 2 3 4 5

5. Neighborhoods 1 2 3 4 5

6. Utility Costs 1 2 3 4 5

7. Floor Plan 1 2 3 4 5

8. Garage Space 1 2 3 4 5

9. Yard Space 1 2 3 4 5

10. RV Parking 1 2 3 4 5

11. Quantity o Stairs 1 2 3 4 5

12. Room or Piano 1 2 3 4 5

13. Cleanliness 1 2 3 4 5

14. Pool 1 2 3 4 5

In all purchases, there are levels o anxiety. What

bothers you? You see, i I can learn about problems,needs, desires up ront, Im the better person to cure

them. ell me your concerns.

Least Concerned Most Concerned




Steve, Jr.

Sharon Steve

What Are You Concerned About?(Pre-Buyers Packet)


4/24




Steve, Jr.

Sharon Steve

15. Closing ime 1 2 3 4 5

16. Inspection 1 2 3 4 5

17. ravel ime 1 2 3 4 5

18. Storage 1 2 3 4 5

19. Kitchen / Eat-in 1 2 3 4 5

19. Formal Dining Room 1 2 3 4 5

20. Family Room 1 2 3 4 5

21. Bedrooms Quantity 1 2 3 4 5

22. Bathrooms Quantity 1 2 3 4 5

23. Close to:

Schools 1 2 3 4 5

Place o Worship 1 2 3 4 5

Shopping 1 2 3 4 5

Bus Line 1 2 3 4 5 Hospital 1 2 3 4 5

Parks 1 2 3 4 5

Day Care Centers 1 2 3 4 5

Sports Centers 1 2 3 4 5

24. In-Law 1 2 3 4 5

25. Police Station 1 2 3 4 5

26. Fire Station 1 2 3 4 5

27. Home Warranty 1 2 3 4 5

Least Concerned Most Concerned

What Are You Concerned About?(Pre-Buyers Packet)


5/24




Steve, Jr.

Sharon Steve

Your Name:

Date:

I. NEED: Tese are items that my new property must have! In act, i it does not have these items, I wontbuy it. For example: Style o house, size, setting, etc.

II. WAN: It would sure be nice to have these items in my new property, but I can live without them.

II. WISH: I wish these eatures were possible, and i I could get these items, I would be amazed.

IV. DON WAN: I would not buy a house with these items. For example: Style o house, size, setting, etc.

Maximum Desirable Payment: $ _______________

Age o home: ____ Under 5 years ____ Under 10 year ____ Older Established Neighborhood

Areas o town:____ North ____ Northwest ____ Northeast ____ East ____ South ____ Southwest

____ Southeast ____ West ____ Other

Favorite Neighborhoods: ____________________________________________________

Buyers Desires(Pre-Buyers Packet)


6/24

Cape Cod

Colonial

Raised Ranch

Ranch

udor

Contemporary




Steve, Jr.

Sharon Steve

Architectural Styles(Pre-Buyers Packet)


7/24

Nothing happens unless frst you dream. Carl Sandburg

The concept of Premiere Market Presence captured our attention immediately. Market share,

brand name awareness, customer satisfaction, quality, professional associates, and community

service are the foundation of the RE/MAX network.

We know that when you ll your company with the right people, provide a great environment for

agents to build their business, and give back to the community in a meaningful way, everyone wins!

Our dream has always been of building a rst class, RE/MAX real estate brokerage in the Rochester

area. A place that we, ourselves would love to work as agents. Through the professionalism of our

agents, the support of our customer service staff and the tremendous loyalty of the consumer, we are

realizing that dream.

RE/MAX Realty Group Highlights

Michael Haymes

Jeff Hoffman

RE/MAX Realty Group became the rst RE/MAX

franchise in New York State in 1987.

Prime Mortgage Corp., founded in 1991 by Michael

Haymes and Jeff Hoffman, and became one of upstate

NYs largest mortgage originators.

1993: Broker/owner of the year by RE/MAXInternational.

1991-2006: RE/MAX Realty Group sweeps the State

Master Franchise awards in all categories for 15

consecutive years: #1 RE/MAX ofce in NY State

in gross closed commissions, sales volume, total

transactions and leader in agent count with 115 agents.

Power Brokers Report names RE/MAX Realty Group

in the TOP 500 for 2003, 2004, 2005, and 2006 of allbrokerages in the US.




Steve, Jr.

Sharon Steve

About RE/MAX Realty Group


8/24

As your agent, I am the ocus o our companys statement

OAL COMMIMEN, PROVEN PERFORMANCE.Individually and as a company, we work harder or you and

it shows in the results we achieve or our clients.

#1 real estate oce in Rochester Based on report derived rom the MLS o the GreaterRochester Association o Realtors.

#1 RE/MAX oce in New York State or 17 consecutive years.

$309,000,000 in sales in 2008.

39 closings per agent average. For all Rochester agents the average is only 3 per agent.

Our philosophy is simple. When you work with the best people, you achieve the bestresults available. At RE/MAX Realty Group, there are no part-timers, only seasonedproessionals who know the Rochester real estate market intimately. Our agents average over 15 years o experience and are considered the best perormers among their peersthroughout the community. We are proessionals who are at the top o our industry.

Over 2,700 closed transactions through RE/MAX Realty Group oce in 2007.

$4,125,000 in sales/transaction volume closed on average per agent.

In-house sales accounted or over 30%.

Over 8 homes sold each day, 365 days o the year.

Every individual at RE/MAX Realty Group is dedicated not only to personal success, butalso to overall success o the company. Te spirit o teamwork and cooperation is at thevery oundation o our company and is passed on to our clients in the orm o excellent

service, ocused commitment, and unparalleled perormance. RE/MAX Realty Groupworks as a team to sell your home.




Steve, Jr.

Sharon Steve

RE/MAX Realty Group WorksHarder For You


9/24

RE/MAX Realty Group is an

integral part of the largest

real estate organization

in the world as far as total

transactions. As part of this

powerful organization, I canoffer you the experience and

power of a global operation

and a solid reputation for

delivering results.

RE/MAX International backs

its worldwide network of

over 4,500 ofces and over

82,000 representatives with

innovative technology forsuccessful home sales. This

network enables us to present

your property to buyers

throughout the world. As part

of RE/MAX Realty Groups

top-performing local ofce,

I offer you superior service,

valuable knowledge, and

unparalleled dedication to

your unique real estate needs.

Provides Worldwide Power

World-Class Service




Steve, Jr.

Sharon Steve

RE/MAX International &RE/MAX Realty Group


10/24

* Based on report derived from the MLS of the Greater Rochester Association of Realtors

When looking for your next home,

put the power of RE/MAX Realty Group

to work for you!

RE/MAX Realty Group

Pittsford, NY

30%

15%

Other Companies

(Industry Standard)

30% of our listings are SOLD in-house!

No other real estate company in our area compares.

You will have access to the largest inventory of new homes immediately.




Steve, Jr.

Sharon Steve

In-House Sales


11/24

Abstract o itle: A summary o the public records relating to the

ownership o a particular piece o land. It represents a brie legal historyo an individual piece o property, and traces the ownership o thatproperty rom the time o the rst recorded transer to present.

Adjustable-rate Mortgage: A mortgage that allows the interest rate to bechanged periodically.

Agency: A legal relationship in which an owner-principal engages a broker-agentin the sale o property or a buyer-principal engages a broker-agent in the purchase

o property.

Appraisal: An evaluation o a piece o property to determine its value. A bankrequires an appraisal beore approving your mortgage.

Asbestos: A mineral ber used in some building materials such as fooring,siding, insulation and roong. It is presently banned or most uses in realproperty.

Assessed value: Te valuation placed on property by a public tax assessor as thebasis o property taxes.

Bridge loan: A short-term mortgage made until a longer-term loan can be made.It is sometimes used when a person needs money to build or purchase a homebeore the present one has been sold.

Broker: A person licensed by their state to act independently in conjunctionwith a real estate brokerage business. Although requirements vary rom state

to state, an individual must usually have advanced training, at least oneyear o experience in the industry have successully closed a certainnumber o transactions and pass an examination to earn a brokerslicense.




Glossary of Terms (Page 1)


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Building Codes: State and local laws that regulate the construction o

new property and the rehabilitation o existing property.

Closing: Te nal step in the sale and transer o ownership o aproperty. Te title is transerred rom the seller to the buyer; the buyersigns the mortgage and pays costs o settlement; any money due theseller and purchaser are paid.

Closing Costs: Fees and expenses, not including the price o the home, payableby the seller and the buyer at the closing (e.g., brokerage commissions, title

insurance premiums, ees or recording, and attorneys ees).

Comparables: Properties similar in size and character to the one being bought orsold.

Condominium: Ownership o a unit only, rather than the entire building withthe land.

Contingency: A specic condition that must be satised beore a contract isbinding, such as an inspection and mortgage approval.

Conventional Mortgage: Te most common type o mortgage rom atraditional lender, usually requiring a minimium o 5% down payment. Can bexed rate, xed term, adjustable or ballon. Your agent will expain.

Disclosure Laws: State and ederal regulations which require sellers to disclosesuch conditions as whether a house is located in a food plain or whether there areknown deects in or aecting the property.

Earnest Money: A portion o a down payment given to the seller bya potential buyer indicating the buyers intent to complete the purchase

o the property. Also called Good Faith deposit.




Steve, Jr.

Sharon Steve



13/24

Engineers Inspection: A physical inspection o the major systems o a houseby a licensed proessional as a contingency o the sale. Fee is paid by buyer and

typically ranges rom $250 to $400. Recommended but not required. Not tobe conused with appraisal or assessment.

Escrow: Te placement o money or documents with a third party orsaekeeping pending the ulllment or perormance o a specied act orcondition. Example: your earnest money will be held in a non-interest-bearingescrow account until closing.

FHA Federal Housing Administration: An agency within the Department oHousing and Urban Development (HUD) that administers loan guarantee programs and

loan insurance programs to make more housing available.

Lien: A legal claim against a property that must be paid when the property is sold.

LV Loan-to-value ratio: Te relationship between the amount o a home mortgageand the total value o the property. Most mortgages are between 80-95 percent o value.Example: i your down payment is 10%, your LV is 90%.

Lock-in-rate: A commitment made by lenders on a mortgage loan to lock in acertain rate pending mortgage approval. Lock-in periods vary.

Market Value: Te highest price a buyer will pay or a property and the lowest pricethe seller will accept.

Mortgage Broker: An individual or company that obtains mortgages or othersby nding lending institutions, insurance companies, or private sources to lend themoney; may also make collections and handle disbursements.

Mortgage Insurance: A policy required by the lender when the buyer borrowsmore than 80% LV, as protection against deault.

Points: A dollar amount paid to a lender i it is necessary to reduce the interestrate. Not commonly done.




Steve, Jr.

Sharon Steve



14/24

Principal, Interest, axes, and Insurance PII Payment: A

periodic (typically monthly) payment that includes the principal andinterest payment plus a contribution to the escrow account establishedby the lender to pay insurance premiums and property taxes on themortgage property.

Private Mortgage Insurance PMI: Insurance issued to a lender by a privatecompany to protect the lender against loss on a deaulted mortgage loan. Its useis usually limited to loans with high loan-to-value ratios. Te borrower pays thepremiums.

Radon: A colorless, odorless gas ormed by the breakdown o uranium in subsoils.It can enter a basement through cracks in the oundation. Long term constant

exposure is considered to be a health hazard. Devices designed to eliminate thisgas cost about $1,200.

Savings and Loan Association S&L: Depository institutions that specialize inoriginating, servicing, and holding mortgage loans, primarily on owner-occupiedresidential property.

Saving Bank: A nancial institution organized to hold individual depositors unds

in interest-bearing accounts and to make long-term investments, such as homemortgage loans.

itle: A document which is evidence o ownership.

itle Insurance: Protection or lenders and homeowners against nancial lossresulting rom legal deects in the title.

Zoning Restrictions: Local municipal ordinances that classiy property accordingto specic uses such as single amily residential, commercial, industrial,

multi-amily, etc.




Steve, Jr.

Sharon Steve



15/24

As you are viewing listings, you have the option o rating theproperties by clicking on the appropriate ace.

NOE: o remove properties rom your webpage, simply clickI dont like this one and click Submit.

I will be searching daily or newly listed homes that meet yourcriteria. When a new property hits the market, I will e-mail

you a copy o the listing.

Click on the Link to view new/updated listings.

Click on the Address link to view listing inormation.

Click the Save Or Make Notes link i you would like to do either.

}Total Commitment Proven Performance



Steve, Jr.

Sharon Steve

Your Personal Website


16/24

Attorney Approval Period: Te signed contract is submitted to all attorneys

or both Buyer and Seller or their review. Approval or disapproval MUS be in

writing by the agreed date.

Right to Inspections: Inspections are at the expense o the Purchaser, and

perormed within the time rame as stated in the contract unless otherwise agreed

upon. You and/or a representative may be present at these inspections.

Mortgage Application and Commitment: Upon contract acceptance you

must immediately begin the mortgage process. You have until a specic date to receive

written Mortgage Commitment rom your bank. Te appraisal and credit report will be

ordered at application, and your lender will advise you on additional paperwork you will

need to supply. iming is essential and your agent will guide you.

Final walk-through: You are entitled to a nal inspection o the property,

within 48 hours o closing, arranged with the Sellers permission. Tis is an

opportunity or you to be assured the property is in the same condition it

was at the time o the purchase contract, and that any required repairs have been

completed.




Steve, Jr.

Sharon Steve

From Contract To Closing(Page 1)


17/24

Closing Date: Te closing date specied in the contract is not always denite,

due to scheduling with banks/attorneys/delays. Tis target date is an on or

about date. Please Note: Attorneys set the closing date.

Closing Statements: Te attorneys will notiy their respective clients othe monies needed (i necessary) or the closing and possibly a breakdown o

distribution o unds. Tis breakdown comes rom the attorneys.

Homeowners Insurance: You should notiy your insurance agent/company ater

mortgage commitment, prior to closing, with new inormation. It is customary

that most lenders require proo o a one year paid policy binder. Please reer to

your mortgage commitment letter or details.

Utility Activation/ermination: Once the closing date has been CONFIRMED,

you must make arrangements or the utilities to be transerred into your name,

eective on the closing date.

Possession: You, the Purchaser, shall receive house keys upon closing,

unless other arrangements have been made.




Steve, Jr.

Sharon Steve

From Contract To Closing(Page 2)


18/24

RE/MAX Realty Group and Te Childrens Miracle Network

Te Childrens Miracle Network represents 160 childrens hospitals throughout NorthAmerica. ogether, these hospitals provide medical care or over ve million children

annually. RE/MAX Realty Group is privileged to be aliated with Golisano ChildrensHospital at Strong, the local aliate o Te Childrens Miracle Network.

Our agents volunteer their time at local und raising events and donate a portion o theircommission at the close o each sale. All money raised locally through RE/MAX RealtyGroup benets local recipients to make medical miracles happen or children in ourcommunity.

RE/MAX Realty Group is committed to our community. Were not only in the real estatebusiness, we are also involved in the business o helping amilies.

RE/MAX Realty Group agents believe that community service and support is an

important part o their job. By helping build a stronger community, we can allenjoy a better quality o lie.




Steve, Jr.

Sharon Steve

Community Service Is TheHeart of Our Business


19/24

When you are looking or a mortgage, why not work with the best? AtPrime Mortgage Corp., Western New Yorks leading mortgage broker,experienced and proessional mortgage consultants will guide you throughthe landscape o mortgage nancing. o nd out more about how PrimeMortgage Corp. can help you, please visit...

www.PrimeMortgageNY.com

30 Grove Street Pittsord, NY 14534

Oce: 585 383-8390oll Free: 800 331-1684E-mail: [email protected]

Registered Mortgage Broker with New York State Banking Department. Loans arranged through third party lenders.




Steve, Jr.

Sharon Steve

Prime Mortgage


20/24

Borrower (One) ___________________________ Phone# ________________

Borrower (wo) ___________________________ Phone# ________________

Agents Name: ___________________________ Property ________________

INCOME CALCULAION

AUHORIZAION FOR CREDI

I have agreed or a mortgage loan prequalication rom PRIME MORGAGE, as part o theprequalication process I authorize PRIME MORGAGE to order a credit report and veriyinormation contained in this prequalication orm.

_______________________________ _____________________________________

BORROWER SIGNAURE CO-BORROWER SIGNAURE

DEB IEMIZAION

Source

__________

__________

__________

OAL

MONHLY

Per Year

__________

__________

__________

__________

__________

Per Month

__________

__________

__________

__________

__________

Per Week

__________

__________

__________

__________

__________

Bi Weekly

__________

__________

__________

__________

__________

Per Hour

__________

__________

__________

__________

__________

# o Hours

__________

__________

__________

OAL

__________

__________

__________

__________

__________

$

$

$

$

$

$

$ $ $

$$

$

$ $

$}GRANDOAL

Car 1 ___________________

Car 2 ___________________

Credit Cards _____________

Support _________________

Alimony ________________

Lease 1 __________________

Lease 2 __________________

Mortgage ________________

Student Loan _____________

Student Loan _____________

Other ___________________

Other ___________________

Other ___________________

Other ___________________

OAL_________________




Steve, Jr.

Sharon Steve

Prime Mortgage QualifyingWorksheet


21/24

AUHORIZAION FOR CREDI FILE DISCLOSURE

Full Name:

Spouse Name:

Address:

Formal Address:

Social Security Number: Spouse Social Security Number:

Date o Birth: Spouse Date o Birth:

Employer: Spouse Employer:

Work Phone Number: Spouse Work Phone Number:

(Signature)

(Signature)

(Drivers License Number)

(Drivers License Number)

(Date)

(Date)

(First) (Middle Initial) (Last) (Jr, Sr, III, Etc)

(First) (Middle Initial) (Last) (Jr, Sr, III, Etc)

(City) (State) (Zip)

(City) (State) (Zip)

BY COMPLEING AND SIGNING HIS FORM, I (WE) GIVE MY (OUR) AUHORIZAION O ACCESS MY (OUR) CREDI FILES, AND I (WE)

AUHORIZE RELEASE OF MY (OUR) CREDI FILE FOR HE PURPOSE OF A PREQUALIFIACION FOR CREDI.




Steve, Jr.

Sharon Steve

The Credit Bureau - Factual Data19 Prince Street Rochester, NY 14607 (585) 256-8867 (800) 374-6055


22/24

Monroe County UtilitiesWater Authority(585) 442-7200

Churchville Electric &Water

(585) 442-7200

Frontier elephone(585) 777-1200

Fairport Electric(585) 223-0440

RG&E(800) 743-2110

Spencerport Electric(585) 352-4771

East Rochester Water(585) 381-2770

Henrietta Water(585) 359-7028

City o Rochester

Reuse Collection(585) 428-5990

City o Rochesterwww.cityorochester.gov


RG&E(800) 743-2110

Monroe County PureWater

(585) 760-7600

Livingston & Ontario County

Niagara Mohawk(800) 932-0301

NYSEG(800) 572-1111


Canandaigua Water(585) 381-2770

Other Helpul Numbers

Cingular Wireless(585) 766-6300

Waste Management(585) 254-3500

ime Warner Cable(585) 756-5000

Verizon(585) 890-5555

Youngblood Disposal(585) 254-7081

Dish Network(585) 271-1990

Sprint PCS(800) 800-7059

Lilac Disposal(585) 872-6500

Direct V(800) 872-6500

-Mobile(800) 263-7045

Suburban Disposal(585) 352-3900

NYS DMV(800) 225-5368

Wayne County

Niagara Mohawk(800) 932-0301

NYSEG(800) 572-1111

RG&E(800) 743-2110

Wayne County Water(315) 986-1929




Steve, Jr.

Sharon Steve

Thinking About Utility Transfers


23/24

Location: You have probably heard the old saying location, location, location.Tis point still bears repeating. Location iscritical. You need to ask yourselseveral questions. What is your desired commute time? What are the qualityo the local schools, proximity to shopping centers, are senior services and/orpublic transportation available? You can nd your dream home, but i its in anundesirable location it can be a particularly poor choice i you anticipate reselling

your home within a ew years. Pay attention to where the home is located.

Do your homework: In the past, prospective homeowners did not have accessto much inormation about sales prices, market trends, homes currentlyon the market, statistics and even the home buying process. Now, with access tothe web there is inormation and data available to you. Go surng, do your homework,become educated.

Make a Wish List: Use our worksheet to review what eatures in a home areimportant to you. Focus in on the eatures you must have, would like to have,

and those you really dont want. Tis will streamline the process allowing you tond the right home that really suits your amilys needs.

Get pre-approved or a mortgage: Te price that you can aord to pay or ahome is determined by many actors such as household income, creditworthiness,monthly debt, interest rates, type o loan, cash on hand or down payment and closingcosts. Te amount you are qualied or may be more or less than you anticipated and willdetermine your house purchase budget. A letter rom a reputable mortgage broker is proo

that you meet lenders requirements. It strengthens your position with the Seller,especially in the case o multiple oers, should that occur.

Tese tips can help make your house-hunting

experience positive and rewarding




Steve, Jr.

Sharon Steve

Guidelines For Finding TheRight Home (Page 1)


24/24

Be Organized: ouring multiple homes can be conusing. Do not rely on your

memory; take notes about o the homes you visit. ake pictures o the outside

o the home, ask your agent or a description o each property and make notes on

each sheet. Use your notes to help you narrow down your house hunting searchby selecting the homes that match your wish list criteria.

Be Prepared to Make an Ofer: Go over a blank purchase contract ahead o

time so you will be amiliar with what decisions you will have to make when it

comes time to make an oer. Be sure to use your wish list, your notes and all the

inormation you have gathered on this property when making your decision to

make an oer. ake all the time you need but dont be araid to make a decision

when you have ound your dream home.

Relax: Buying a home is a lie event. Do not allow this to be an overwhelming

experience. Save time to unwind, calm your thoughts and keep the whole

experience in perspective.

}SEVE BABBIBroker Associate

Oce: 585 389-1092Cell: (585) 230-4707E il S S B bbi

Steve, Jr.

Guidelines For Finding TheRight Home (Page 2)

why use a buyer’s agent?

Documents