First time buyer presentation 2011


Published on

buyers guide

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

No Downloads
Total Views
On Slideshare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

First time buyer presentation 2011

  1. 1. First Time Home Buyers Guide Let’s get started! Just Ask Joe ! Joe Carroll REALTOR ®
  2. 2. Steps to Get Started <ul><ul><li>Determine your budget and how much you can afford. </li></ul></ul><ul><ul><li>Get pre-approved for a mortgage. </li></ul></ul><ul><ul><ul><li>When applying, you’ll most likely need to furnish: </li></ul></ul></ul><ul><ul><ul><ul><ul><li>Two most recent pay stubs. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>W-2 forms for the past two years. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Federal tax returns for the past two years. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Last two months bank statements. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Long-term debt information such as credit cards, auto loans etc. </li></ul></ul></ul></ul></ul>Just Ask Joe !
  3. 3. Getting Approved <ul><ul><li>A lender will check your credit to see if you’re a good candidate for a loan. </li></ul></ul><ul><ul><li>If your credit rating is poor, there are things you can do to improve it. </li></ul></ul><ul><ul><ul><ul><ul><li>Make sure the report is correct. If not, call to fix it. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Begin to pay your bills on time. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Use two to four credit cards so you can keep track of them. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Keep a separate checking and savings account. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Keep the same job for a few years. </li></ul></ul></ul></ul></ul>Just Ask Joe !
  4. 4. Pre-Approved vs. Pre-Qualified <ul><ul><li>Pre-Approved : confirmation the lender will give you a commitment to support your purchase. </li></ul></ul><ul><ul><li>Pre-Qualified : an estimate of what you can afford. </li></ul></ul><ul><ul><li>Being pre-approved makes you a more attractive candidate to the seller when making an offer. </li></ul></ul>Just Ask Joe !
  5. 5. Deciding On A Mortgage <ul><ul><li>Fixed Rate Mortgage : the interest rate stays the same for the entire term of the loan. </li></ul></ul><ul><ul><li>Adjustable Rate Mortgage: the interest rate is linked to a financial index and may fluctuate with market conditions. As such, payments may vary over the life of the loan. </li></ul></ul>
  6. 6. Calculating Your Budget <ul><ul><li>To estimate your budget, add up your total financial worth and then subtract all the cost in the purchase. </li></ul></ul><ul><ul><li>Some expenses you may carry: </li></ul></ul><ul><ul><ul><ul><ul><li>Down payment </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Mortgage </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Insurance </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Taxes </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Points </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Attorney’s fees </li></ul></ul></ul></ul></ul>Just Ask Joe !
  7. 7. The Fun Begins <ul><ul><li>Before you search for your dream home, some things you should consider: </li></ul></ul><ul><ul><ul><ul><ul><li>Size of property </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Type of neighborhood you desire </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Quality of school system </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Nearby public transportation </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Urban or suburban </li></ul></ul></ul></ul></ul>
  8. 8. PICK A REALTOR ® <ul><li>Realtors ® are very different from the average real estate agent. </li></ul><ul><li>Realtors® are held to a much higher standard than most agents. </li></ul><ul><li>Realtors® Work for you at NO COST TO YOU !!! </li></ul><ul><li>Realtors® are experts in the Industry and know all of the legal aspects of contracts and liabilities. </li></ul><ul><li>Realtors® are experienced in property negotiations and will get your dream home at a price that YOU want. </li></ul><ul><li>Realtors® are FULL-TIME professionals that live, breath and sleep Real Estate. </li></ul><ul><li>Oh Yeah ! Did I mention that they work for you at NO COST TO YOU ! </li></ul>
  9. 9. Finding a REALTOR ® is like finding a friend. You need to feel that they are listening to your needs and will fight for YOUR interests. Things to look for are : WHAT TO LOOK FOR IN A REALTOR ® <ul><li>Is the REALTOR ® listening to what YOU want, or are they looking off into space. </li></ul><ul><li>Is the REALTOR ® knowledgeable about the area that you are interested in ? </li></ul><ul><li>What tools do they have to help you find your dream home? </li></ul><ul><li>How flexible are they when it comes to working around YOUR schedule? </li></ul><ul><li>How accessible are they? Do they answer your calls or call you back in a reasonable time frame? </li></ul><ul><li>Do you trust them to represent you in negotiations? </li></ul>
  10. 10. HOUSE HUNTING House Hunting can be very arduous . It takes you and your REALTOR ® several weeks or months to find your dream home. There is no time limit to finding the perfect home. Your REALTOR® understands how important this decision is to you. Do not feel that you are “ Bothering” your realtor or that you are seeing too many houses. This is what we do. Take your time and make sure that the home you choose is the perfect fit . Just Ask Joe !
  11. 11. Writing the Offer <ul><ul><li>Once you’ve found the perfect home, Your REALTOR ® will write up the offer and ensure all paperwork and activities are completed so you can close on your property. </li></ul></ul>
  12. 12. ACCEPTANCE OF THE OFFER <ul><li>After you and the seller have agreed upon a price of the home, There are certain things that you need to do before closing. Here is a list of what your REALTOR ® will help you complete before closing to ensure you stay in compliance with the contract: </li></ul><ul><li>Scheduling all inspections. </li></ul><ul><li>Finalizing the loan process. </li></ul><ul><li>Preparing all documents necessary to stay in compliance with the contract, and to ensure a smooth closing. </li></ul>
  13. 13. The Closing <ul><ul><li>This is the meeting where the transaction is finalized. Your REALTOR ® will guide you through all closing procedures to make your home officially yours. </li></ul></ul>
  14. 14. Thank You ! For more information on buying or selling a home, please visit my Blog at If you have any questions, Please contact me at : [email_address] Or call Direct to : ( 618) 920-6189
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.