ROG Buyer Presentation

Team Page Homes
Realty One Group
Bobby: 702-604-4488
Sheri : 702-338-3619
STEPS TO SU C C ESS
For Buying A Home

Buying a home can be one of the most exciting adventures in your life.
It can also be one of the most overwhelming if you try to go at it alone.
When you are looking at and negotiating on properties listed for sale, the Seller will have a real
estate agent working for them. You should also have an experienced Realtor® working for you,
guiding you and looking out for your best interests. And the best part is that hiring a Realtor® as
a buyer, it is basically at no cost to you. In most circumstances, the Buyer’s agent is paid by the
Seller from the proceeds of the sale.
Introduction

Buying A Home in 7 Steps
Step 1 - Buying Consultation
Step 2 - Loan Pre-Approval
Step 3 - Searching for a Home
Step 4 - Viewing Homes
Step 5 - Develop a Pricing Strategy
Step 6 - Writing and Negotiating an Offer
Step 7 - Managing the Transaction Through Closing

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Buying A Home
In 7 Steps
The greatest part of hiring a Buyer’s Agent is that in most cases there is
no cost to you!
We are compensated for our services only when we successfully close on a home for you.
When a seller lists their home with a Seller’s Agent, a commission amount for the Seller’s
Agent and for the Buyer’s Agent is pre-determined and paid for by the Seller upon the
closing of the sale.
Working for You as Your Buyer’s Agent
Step 1
Buying Consultation

Buying A Home
In 7 Steps
Motivation - Why have you decided to buy a home?
Timing - Are you flexible in timing or are we working towards
closing before a certain date?
Pricing - What is your price range? Have you begun talking with a
mortgage professional?
Decision Making - Will anyone else (family member, financial
advisor) be involved in the transaction?
Location - What areas of town do you prefer, or are you not yet
sure?
DETERMINE YOUR NEEDS
What is Most Important to You?
Step 1
Buying Consultation

Buying A Home
In 7 Steps
Home Type - Are you looking for a condominium, townhome,
single family residence or land?
Home Size - What size of home are you looking for? How many
bedrooms, bathrooms, etc.?
Lot Size - What size of property are you looking for?
Floorplan - What is important to you in the layout of a home?
Architectural Style - Is there any particular style you prefer -
rustic, traditional or contemporary?
Amenities - What additional features will you be looking for? (pool,
hot tub, clubhouse, golf, etc.)
What Exactly Are You Looking For?
Step 1
Buying Consultation

Buying A Home
In 7 Steps How Much Can You Afford?
It can be discouraging to find that your salary won't stretch as far as the home you want to own.
However, sacrificing a huge part of your income just to pay the mortgage can very quickly make
home ownership a burden rather than a point of pride. It may be better to buy a modest home
now and look at purchasing your "dream home" in a few years.
A Pre-Approval Adds Strength to Your Offer
Once you have been successfully pre-approved for a mortgage with a local lender, you will
appear to be a stronger buyer to sellers. When we submit an offer, we will include a written
letter of your pre-approval. This demonstrates to the seller that you are indeed a serious and
capable buyer.
Securing a Pre-Approval for Your Home Loan
Step 2
Loan Pre-Approval

Buying A Home
In 7 Steps
Interest Rate?
Cost of the loan?
Fixed Rate Mortgage Adjustable Rate Mortgage (ARM)
 Mortgage Term - 15, 20, 30 year loan terms.
Conventional Mortgage 20% down payment
FHA Mortgage- 3.5% down payment
VA Mortgage- 0 down payment
First Time Home Buyer Programs
FHA 203K Finanacing
Pre-Payment Penalty
What Type of Loan is Best?
Step 2
Loan Pre-Approval

Buying A Home
In 7 Steps
Information needed for Loan Application
Step 2
Loan Pre-Approval
 Picture ID
 Proof od Social Security Number
 Names and addressed of Employers for the last 2 years
 W2’s and current paystub
 Last 2 months bank statements
 Names balances and monthly payments you owe
 Address of other real estate owned
 Certificate of Eligibility if VA
 Bankruptcy paperwork
 Divorce Decree

Buying A Home
In 7 Steps
• Do NOT change jobs, become self-employed or quit your current job!
• Do NOT buy a car, truck, boat or RV!
• Do NOT use your credit cards excessively or miss payments!
• Do NOT transfer balances or open new credit cards!
• Do NOT pay off any credit cards or other revolving debts!
• Do NOT spend money set aside for closing costs!
• Do NOT withhold debts or liabilities from your loan application!
• Do NOT open new credit accounts to buy new furniture, appliances, etc.!
• Do NOT make any inquiries into your credit!
• Do NOT make large deposits or withdrawals from your bank accounts!
• Do NOT change banking accounts!
• Do NOT co-sign any loans for anyone!
Inquire with your lender before considering any of the above.
Until You Close on a Mortgage Loan...
Step 2
Loan Pre-Approval

Buying A Home
In 7 Steps
As we begin our search we will utilize our many resources and strong network of information
to seek out the best opportunities and find the home that best suits your needs.
• REALTOR® Listings / Multiple Listing Service: The most up-
to-date home information resource!
• New Home Construction Developments
• “Pocket” Listings
Our Home Searching Resources
Step 3
Searching for a Home
The Value of the Multiple Listing Service
As a member of the Board of REALTORS®, we have access to the Multiple Listing Service
(MLS).
The MLS is an extensive database that contains information on all listed homes in the area.
When sellers decide to list their home with an agent, their agent posts all the information for
that home into the MLS database. All relevant information on a home is available such as
location, size, price, layout, features and photos. As your buyer’s agent we can enter desired
information based on your search criteria and the MLS will analyze the database and list all
available homes that match your needs.

Buying A Home
In 7 Steps
Once we can narrow down your search criteria such as location, city, neighborhoods,
number of bedrooms and bathrooms, overall square footage, etc., we can then set up
an automated search for you on our MLS. Whenever a new property becomes
available you will receive an email update and will know about it before most other
potential buyers. You’ll also receive an update on price reductions as well. No more
missing out on great buys!
Automated “Hot Sheet” Emails
Step 3

Buying A Home
In 7 Steps
Internet 37%
Step 3
Over 90% of home buyers use the internet as a tool when searching for a new
home!
Now more than ever people are accustomed to using the benefits of technology to
better gather information. Many home buyers start with surfing the web, where you
can easily and quickly view pricing, details and photos of many homes right from
your living room. It is a quick way to educate yourself on the local real estate market.
On our website you can also save your favorites to view later and keep track of the
homes you want to go see.
Our website allows you to easily search in many different ways:
• Search by city, community or subdivision
• Search by price range
• Search by school district
• Search by single-family, townhome or condo
• Search bank foreclosures and short sales
ONLINE SHOPPING

Buying A Home
In 7 Steps
Short Sales and Bank Foreclosures
Step 3
A short sale is a property where the seller owes more to the bank than what the property is
worth. For example the home may only be worth $300,000 but the seller owes $350,000. So
how do they sell the home? They will need to get special permission form the bank (third
party approval) to sell the home for less than what is owed. For a buyer It can be
discouraging to wait for this lengthy process. Often a short sale can take months to obtain
the approval from the bank, especially if there are multiple mortgages or additional liens on
the property. If you are trying to coordinate a move based on your current home selling or
lease ending, this can be a very difficult process to go through.
A bank owned or foreclosure property is a property where the owner failed to make the
mortgage payments, and the bank completed a foreclosure process and is now the owner of
the home. Banks are not in the business of owning homes so they typically will price the
home low to get it sold quickly. But buyer beware, bank owned homes play by different
rules. These homes are sold “as-is” with no warranties on the condition of the home.
Additionally bank owned sales are often sold with limited Title Insurance coverage.

Buying A Home
In 7 Steps
Your role and participation in this stage is obviously crucial to our success. You may even
find or preview homes on your own (Open Houses) but it is very important to keep us
notified and included in the process so we can better assist you to be sure your best
interests are are fully met.
 Determine Neighborhoods Prior to Viewing - We can do an area tour to examine &
discuss potential neighborhoods. We encourage you to spend some time driving
through desired areas on your own to get the feel of different locations.
 Clearly Know Your Criteria - Think about what is the right fit for you. We select homes
together based on the criteria you give us. We may drive by many other homes on our
property tour that may look interesting from the exterior. If it is not on our list, it is most
likely because it was priced too high, home size is too small, did not have enough
bedrooms, etc. It is best to stay focused on the homes that do meet your needs.
 Immediately call us if you find a home - In a newspaper or magazine ad, driving by a
“For Sale By Owner" sign, or visiting an open house.
 New Home Search- Realtor must accompany to represent/ negotiate
 When approached by other REALTORS® - They will appreciate you letting them know
you are working with us.
Narrowing Your Search
Step 4
Viewing Homes

Buying A Home
In 7 Steps
Now the fun part begins, time to go view some homes. Now that we know what your price
range is, and what your wants and needs are, we can schedule to see the homes you are
most interested in.
Be Mindful of the Appointments Made - It takes a great deal of time to set up a smooth,
productive property viewing tour. Please do not be late, and we must stay on track with the
timing of all the homes. Many of the homes we will be viewing are primary residences and
families must make plans to accommodate our visit.
Comfortable Shoes - Most homes will ask us to remove our shoes, so wear easy slip-on/off
shoes.
Eat Prior to Tour - You will feel much more alert & productive if you simply eat before our
tour.
Take Notes - We will supply you with a clipboard, pen and a sheet for each home in the order
we plan to view them. Be sure to take descriptive notes on each home - good, bad, etc. After
viewing many homes, they all seem to blend together when trying to think back. Share these
notes with us, it will help us to better know what you like and do not like. If you have questions
on a property, write them down so we can work on getting answers from the seller's agent
quickly.
Scheduling Viewing Tours
Step 4
Viewing Homes

Buying A Home
In 7 Steps
As a member of the Board of REALTORS® we have access to the Multiple Listing Service
(MLS). With the MLS we can prepare a report that analyzes values of properties comparable to
the one you want.
We can also gather background information on the desired property such as how long it has
been on the market, pricing changes, or if it has gone through a previous listing period. Using
this valuable information, we can assist you in determining a realistic, yet attractive offer price
for the desired home.
How Does the Seller’s Asking Price Compare to Recent
Market Activity?
Step 5
Develop a Pricing Strategy
4 Bedrooms, 5
Bathrooms
3450 Square Feet
Asking Price: $455,000
3 Bedrooms, 4
Bathrooms
3230 Square Feet
Sold for: $432,000
6 Bedrooms, 4
Bathrooms
4050 Square Feet
Sold for: $445,000
4 Bedrooms, 5
Bathrooms
3200 Square Feet
Sold for: $437,000

Buying A Home
In 7 Steps
Using a Comparative Market Analysis as a Guide
A Comparative Market Analysis (CMA) is the strongest tool we use when estimating the
potential market value for a home. As a member of the Board of REALTORS® with
access to the Multiple Listing Service, we can prepare a report that analyzes
comparable homes in your area. Using this valuable information, we can assist you in
determining an attractive, yet realistic offer price for the home.
A Comparative Market Analysis highlights similar homes in your area that are:
Active Listings - Homes that are currently available for sale. We can see what
comparable asking prices are, but remember these homes have not yet received an
acceptable offer.
Under Contract - Homes that have received and accepted an offer
and give a good indication of realistic pricing.
Sold - Looking at the prices paid for recently sold
homes provides the best foundation in
determining a home's most accurate market
value. Once adjustments are made for square
footage and features, we can make a qualified
recommendation for the offer price on the home.
Expired - Homes that have gone through the
duration of a listing period, but failed to sell.
Many factors could be responsible such as lack
of marketing or the home’s condition, but most
often it is simply because the home was priced
too high.
Step 5
Develop a Pricing Strategy

Buying A Home
In 7 Steps
Below are some of the items that we will need to pay close attention to:
 Purchase Price
 Included Items
 Earnest Money
 Special Assessments
 Possession
 Appraisal Condition
 Financing Condition
 Home Warranty
 Home Inspections
 Due Diligence Deadline
 Financing & Appraisal Deadline
 Response Deadline
After considering all terms... The Seller may Accept, Counteroffer, or Reject the
Offer.
Writing an Offer: What important factors should you consider?
Step 6
Writing and Negotiating an Offer

Buying A Home
In 7 Steps
Receive the Seller's Disclosures
This is the process where the Seller is required to provide information relating to the property.
• Seller Property Condition Disclosure - filled out, signed and dated from Seller.
• Commitment for the policy of Title Insurance, showing easements, encroachments and liens.
• HOA information, budget, minutes, assessments, CC&R's, and survey, water rights if applicable.
• Copy of any leases, rental, and property management affecting the property not expiring prior to closing.
• Notice of any claims and/or conditions relating to environmental problems & building or zoning code
violations.
Your Due Diligence (Evaluations and Inspections) – IMPORTANT DATE!
This is the time period provided to you as the Buyer to learn, review, inspect and decide if acceptable.
• Carefully review all items provided in the Seller's Disclosures.
• Schedule any physical condition inspections, tests and evaluations deemed necessary.
• Review the costs, terms and availability of homeowner's insurance for the property.
Your Right to Cancel or Resolve Objections
If you determine the Evaluations and Inspections to be unacceptable, you may:
• No later than the Due Diligence Deadline, cancel the contract by written notice to Seller.
• Or no later than the Due Diligence Deadline, resolve in writing any objections.
Remaining Contingencies and Financing
In the final steps of the transaction we will coordinate and complete any remaining details.
• Is the sale and/or mortgage contingent upon an appraisal? At what amount did the property appraise?
• How is your financing going? Are there any last minute issues for securing your mortgage?
• Is the sale contingent upon you selling your previous home? How is that sale going?
• Schedule a final pre-settlement walk-through inspection.
Settlement (Closing) – DO NOT SHOW UP IN YOUR MOVING VAN!
Settlement, and then Closing shall take place only when all of the following occur:
• Buyer and Seller have signed all documents required by REPC, Title, Lender, etc.
• Any monies required to be paid have been delivered by Buyer and/or Seller.
• The proceeds of the new loan have been "funded", then all closing docs are "recorded" at the County
Recorder.
• Hand off keys, garage door openers, manuals, warranties.
• Help you to find a new home in this area or offer relocation assistance.
Step 7
Managing the Transaction
Through Closing

Lets Get Started!
There is so much thought, knowledge and preparation that goes into
a successful home-buyer process. We will be your resourceful guide
through every step. Lets get started right away and we’ll find your
dream home soon.

Thank You for Your Business
Much of our business is based on referrals from satisfied clients. If
you know anyone who could benefit from our services, please let us
know how we can be of help!

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