1. Prudential Northwest Properties Home Buying Guide Prepared Especially For You By Jewel K. Stockli, Your Full Service Real Estate Broker
2. About Me… Real Estate Professional . 16 Years of Customer Service and Sales Experience e-Certified, QSC RMLS, PMAR, CCAR, NAR, OAR, Own 3 Properties “With the largest investment of Your life you should have someone on your side with the education, tools and a passion for doing the right thing the first time, so it doesn’t have to be redone. Owning property is an American Right We all should embrace and not pay your landlords mortgage…..Put that money into your own dream home…” The Jewel of the Rock Place Agent photo here
3. About You… Let’s review some of the points we’ve discussed: Have you arranged financing for your new home? Do you know the amount of the loan commitment? How much of a down-payment do you plan to invest? With what price range are you comfortable? Are there any specific neighborhoods or areas that appeal to you? Ideally, when would you like to be living in your new home? Do you own or rent your current property? Who will the decision-makers be?
4. The Home Buying Process The home buying process typically includes the following: Our initial consultation Obtain Financing Consult with a loan officer Complete loan application Obtain pre-approval View and evaluate properties Determine offer price Decide on financing and terms Negotiate agreement with a seller Obtain property appraisal Loan processing Final loan approval Complete the settlement process Deposit earnest money Obtain inspections Arrange insurance Sign documents Record title Receive keys Move in!
5. Understanding Agency Relationships When real estate professionals work with buyers and sellers, “agency” relationships are established. There are three kinds of agency relationships: Buyer’s agent – represents the buyer during the home buying process. The buyer’s agent has a fiduciary responsibility to represent the buyer’s best interests, including reasonable care, loyalty and confidentiality. Seller’s agent – represents the interest of the seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the seller. A seller’s agent works to assist the seller in locating a buyer and in negotiating a transaction suitable to the seller’s specific needs. Disclosed limited agent – represents the interests of both the buyer and the seller, during the same transaction. A dual agent has responsibilities to both buyer and seller and must act in the best interest of both parties.
6. Thank you for considering Prudential Northwest Properties to assist you in the purchase of your home. Aligning with Prudential is a wise decision. No other real estate brokerage in our market area offers the unparalleled services we deliver. At Prudential Northwest Properties, we are revolutionizing the way real estate is purchased and sold by providing our clients with Home Services. As the only major broker in the area with a Home Services department, we have an advantage over other real estate companies. That advantage is service. All home buyers and sellers working with our sales professionals receive the complimentary assistance of our Home Services Coordinators, standing by to assist you with all the details associated with the home selling and buying process. If you’re in the market for exceptional service, put the power of Prudential Northwest Properties to work for you today. Sincerely, Bert E. Waugh, Jr. A Message from the President Bert E. Waugh, Jr. President
7. The Prudential Northwest Properties Advantage We are the largest, locally-owned and managed real estate services company in the area Our brand is recognized by 96% of North Americans The Prudential name stands for Strength, Integrity & Trust We have been serving our market area since 1948 Our network includes 2,000 offices and 64,000+ agents, plus over 15 million Prudential Financial global customers Our company is 650+ agents strong and ranks in the Top 2% of all Prudential brokerages in the United States We are committed to giving back to our communities through Transitional Youth
8. Your Home Services Coordinator When you buy or sell a home through Prudential Northwest Properties, you gain complimentary access to our Home Services network of services. Your Home Services Coordinator (HSC) assists me in providing any services related to home ownership. Your Home Services Coordinator: Is available to guide and support you through the moving process Provides contact information for utility transfers and connections Obtains moving van and storage estimates Helps you find the best mortgage loan Alerts you to discounts on home related products & services Contacts local service providers on your behalf All of this and more… for FREE
9. Home Warranty Buyer Protection A home warranty is an annual service plan that provides for the repair or replacement of covered systems and appliances in the home that breakdown due to normal wear and tear. How an American Home Shield warranty benefits you: Provides budget protection against costly “surprise” repairs at a time when you’ve just made a major investment in your home Saves you time and frustration in dealing with unexpected home repair issues Removes the hassle of finding reliable contractors in your area
10. Job Loss Protection Program Prudential Northwest Properties offers the sellers of our listings the opportunity to provide Job Loss Protection coverage for their potential home buyer. How could you benefit you if you purchase a home with Job Loss Protection coverage? If you experience an unforeseen job loss within two years after closing, you could receive up to $2,000 per month to put toward your mortgage payment. This coverage lasts up to six months, offering peace of mind and reducing financial stress while seeking new employment. Certain conditions and eligibility requirements apply.
11. Financing Your Home Purchase Unless you are in a position to pay cash for your home, you will need to obtain a home loan to complete the purchase. I will assist you in this process to help ensure you obtain the financing that meets your needs. I will offer to arrange a pre-qualifying or pre-approval meeting with an experienced loan officer at Columbia Mortgage to determine your affordability range Being pre-approved for a loan before you submit an offer on a home will put you in a stronger negotiating position and can save time in the loan process Your loan officer will be your principal guide through the financing process and will explain various financing options available to you
12. My Commitment to You The Buyer Service Agreement is our mutual commitment to each other to ensure the best home purchase experience possible. My Duties: Make a diligent effort to locate a property acceptable to you Promptly inform you of homes that may meet your requirements Provide professional counseling on financing options and availability of property Assist you in obtaining information, preparing offers and negotiating on your behalf Monitor and oversee the purchase process prior to closing Your Duties: Provide me information on your wishes and feedback on properties we view Provide information relevant to your ability to acquire property Be available at reasonable times to view property and consider making offers Refer to me all other brokers, builders and sellers with whom you may come in contact regarding an available property Conduct all negotiations through me Work exclusively with me in locating, viewing and negotiating for property
13. Protecting Your Interests There are several ways to help support a trouble-free home purchase: A writtenproperty disclosure statement from the seller will reveal any problems with the house and the surrounding area that you need to know about Professional inspections can reveal structural, roof, termite and other problems with the property that the seller will need to remedy A home warranty can give you peace of mind by providing repair-or-replace coverage of major home operating systems and appliances A preliminary title report informs you of any problems with the property’s title and a policy of title insurance protects your rights A walk-through before closing will allow you to make sure all required work has been taken care of and that the property is ready to become yours
14. Submitting An Offer Once you have found the right property, I will provide you with information on market values on other properties in the area so you can make a sound decision. Then I will prepare a written offer of purchase, reflecting your price and terms. I will provide advice and negotiating assistance on all offers to purchase. I will present your offer and the seller will have three choices: Accept the offer as it is presented Reject it completely Propose adjustments to your offer (counter offer) If there is a counter offer, you may choose to accept it, reject it or counter it. Once we have reached an agreement with the seller, you will have a firm contract to purchase the home.
15. Your Single Source for Property Information I have access to information about virtually every property for sale in this market, and will complete a thorough market search to identify all properties consistent with your needs and price range. To save you time and duplicated effort, contact me for additional information on properties you see, regardless of whether they are offered by another brokerage. I will obtain important facts about homes you see: Advertised in the newspaper or buyer’s guides On the Internet Visiting Open Houses Displaying “For Sale By Owner” signs
16. The Best Local Listing Resource My Web site, www.oregonrealestatebyjewel.com, is the best online resource for up-to-date information on homes for sale in our market area.
17. Our HomeFinder Program For the latest information on homes for sale, register for HomeFinder. Once you search for properties, save your search and choose to receive New Listing Updates. The system will automatically E-mail you a list of newly listed properties that match your search criteria.
18. How to Find and Look at Homes Discovering the right home should be an exciting event. My commitment is to make your home search as stress-free and efficient for you as possible. The following will be beneficial to you in your home search: I will set you up to receive automated E-mails of properties that meet your criteria as soon as they hit the market I will arrange showing appointments with the sellers or their brokers You can use the Home Finding Worksheets I give you to evaluate each property
19. When You Find a Home of Interest Contact me right away if you find a home in which you’re interested and would like more information. Here are some tips on the best course of action under the following circumstances: New Construction – give the builder or agent representative my business card and tell them you are represented by me For Sale By Owner – give me a flyer from the property or contact information so I can arrange an appointment for viewing Any other property listed for sale – email or call me with the address so I can obtain information and arrange an appointment
