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Buyer presentation by Karen

Buyer presentation by Karen

More in: Real Estate
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  • Thank you for taking the time to sit down with me today. Before we hit the road and begin previewing homes, I want to review how our relationship will work, a few forms and the process from today to closing.
  • Many homebuyers think that buying a home consists of looking for a house and buying it. In reality, The path to homeownership is comprised of seven different steps.
  • The first step is to consult with a real estate agent. I can represent you as a buyer’s agent. I will be your guide throughout the process and help you navigate your way to the home of your dreams with ease. Note: if you are a REALTOR® please change “real estate agent” to “REALTOR®” in the header
  • I am excited to help you find a home, but first I want to hear about your concerns and your expectation of me.
  • There are several reason why working with a real estate agent is beneficial to you. First, I can help you determine how much you can afford. This is a critical step in the process and will help us better determine and prioritize your wants and needs for your new home.
  • Once we have identified this, I can provide you with detailed information on homes that match your criteria from the MLS and other sources that are only available to real estate agents.
  • After we find the best home for you, I can help you put together an offer and guide you through the negotiation process.
  • Finally, once your offer is accepted, I can help you understand the inspection process and financing options.Note: if you are a REALTOR® please change “real estate agent” to “REALTOR®”
  • Not all sales professional are licensed as REALTORS®. Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. REALTORS® subscribe to a strict code of ethics . Iam a REALTOR® and I take this designation very seriously. NOTE: ONLY INCLUDE THIS SLIDE IN YOUR PRESENTATION IF YOU ARE A REALTOR®
  • It is important for you to get representation from a Buyers Agency to help you in the purchase of your home and help you get the best possible price for it. Without this formal representation, an agentsfiduciary duty is to the seller – and the agent would have to negotiate the highest and best price for them. I would like to represent you in the purchase of your home. When we are finished today, I have a form for you to sign. There is no cost to you as I will get paid upon closing and the fee is built into the seller’s closing costs. Have the agency form and disclosures on hand – go over the forms and sign electronically when possible. Be open with your consumers and explain how you get paid in the transaction. Your agency forms and disclosures protect you too!Note to Sales Associate – adjust comments to your model
  • Getting a pre-approval will also give you any “heads up” in case there are some credit issues or anything else in the way of you getting a loan on the house you want. You can talk with more than one lender. Getting a pre-approval letter is not an obligation for a loan. But when we do find the house you want and go to make an offer, it shows the seller that you are qualified and can “close the deal”. This puts you in a much stronger position with other offers where they may not know if the buyer can even qualify for a home in that price range.I’d be happy to refer you to three lenders in the area so that you can learn more about what they have to offer and get pre-approved. [If the buyer is already working with a lender and you will be representing them, ask for the lender’s contact information]Excellent. That pre-approval will allow you to search for your dream home knowing exactly how much you can afford and will really put you in the driver’s seat when we write the offer.
  • Now the fun part of the journey begins – finding the home! I have been a real estate (or REALTOR®) in this market for X years, and I understand everything that is happening with market trends and pricing. So once we find the home of your dreams I will be able to help advise you on how to bid on homes. I also have great connections within the area and with other agents, so I will be able to bring new homes to you as they hit the market.
  • According to a Better Homes and Gardens Real Estate survey, 1 in 5 homeowners have moved or would like to move because their community doesn’t fit their lifestyle. That’s why it is important that we think through all of your choices. I would like to hear about you and the kind of lifestyle you lead – so tell me about YOU! How you live will help us determine where you live.
  • Now let’s talk about your dream home. Your home search parameters will change over time as you begin to take a closer look at properties and explore possible neighborhoods. ..but let’s start with your “wish list” first. Along the way, we will talk about Needs vs. Wants.Get answers to questions on slide.Now that I have your input, we can start to look for homes that meet your needs. After you have the pre-approval letter, I will set up appointments for us to view the homes together. As we go through each property, we’ll talk about the condition, your likes and dislikes and determine what is right for you. If you want to do some research yourself in the meantime, go to bhgrealestate.com. This site has a lot of tools for searching for homes. If you do venture off onto other websites, please feel free to contact me directly to view the homes. Email me the ones you are interested in, and I will make the appointments for you. I can show you any homes listed in the MLS by any other agent, as well as new construction and For Sale By Owner. We can evaluate all of the properties together.
  • I will be glad to set you up to receive emails with “Listing Alerts” so you can be auto-notified of new homes as they come on the market, and any price or status changes of homes matching that criteria. This helps put you in the driver’s seat of being one of “the first to know” and get a jump on other buyers looking in the same area.
  • Once we find the right home – it will be time to make an offer on the home!
  • We will be sure to compare it to recent sales in the area so that you can be comfortable with your offering price. Every offer we make will be in writing and I will work to make sure you understand the terms every step of the way. Remember, without Buyers Agency representation, I would represent the seller and not be able to show you comps listed below the list price of the home.
  • Included in the offer will be other items that can also be negotiated – such as repairs, closing costs and date of possession.
  • I will submit the offer to the listing agent – and will negotiate in your behalf.
  • You will be responsible for contacting an inspector and deciding which inspections you want done and when. This will all be a part of the contract, and I will also help with those negotiations as needed. There is something called an Option Period, and Iwill tell you more about that when we write an offer. (WHY BRING THIS UP UNLESS THERE IS AN EXPLANATION?
  • Negotiations have ended when both parties have signed, inspections have been completed and the option period is over .
  • Then the paperwork begins. Now that you have the seller’s final approval, we need your lender’s final approval.
  • Final approval from your lender can be tricky. It is critical to complete and submit paperwork quickly to ensure a mortgage commitment by the date specified in our agreement of sale. We will both need to stay in close touch with your loan officer to make sure everything is moving along as it should. What we will want to hear is that (1) You have been approved. Any contingencies in the pre-approval process have been satisfied and removed. (2) The title is clear and free. There are no liens on the house and (3) the house appraised at a value equal to or greater than the agree upon sales amount.
  • Just before closing, we will do a final walk through of the house and make sure the house is still in the condition we expected. If there are items in the contract – such as certain light fixtures that were supposed to stay – we will make sure they are there. We will make sure there have not been any damages on the property, etc.
  • You will be given a more detailed list of things you will need to do to get ready for closing… but in the meantime, you will want to start making arrangements for Homeowners Insurance as soon as possible. Soon you will be given the amount of certified funds needed for closing. Those 2 items are a must for closing. Other details you may want to remember are arrangements for utilities , movers, school records, etc. There are a lot of details….and I will be there to help you along the way! We will take care of them as they come.
  • Then the fun part begins. At the closing table, you will get keys to your new home and start to move in! As you can see, there will be a lot of things happening along the way…………… so let’s get started! Nothing pleases me more than to see the look on your face when you have “Found the right one” and it becomes yours! That is why I am a real estate agent!Note: if you are a REALTOR® please change “real estate agent” to “REALTOR®”.
  • I want to earn your business and build a lifetime relationship. You can call me anytime should you, or any of your friends have any questions about real estate!

Transcript

  • 1. FINDING YOURNEW HOME with Karen
  • 2. The 7 Step Home Buying Process1. Consulting with a real estate agent2. Getting pre-approved3. Finding the home4. Making an offer5. Negotiating the offer6. Processing the loan7. Closing & funding
  • 3. 1. Consulting With A Real Estate Agent
  • 4. Understanding Your ExpectationsWhat questions do youhave about workingwith an agent to findyour new home?What are yourexpectations of me?
  • 5. Why Use A Real Estate Agent?Helps you determinehow much house youcan afford
  • 6. Why Use A Real Estate Agent?Provides detailedinformation onproperties from theMultiple Listing Serviceand other sources
  • 7. Why Use A Real Estate Agent?Provides you withinformation about themarket so you candevelop an offerincluding the offeringprice and other terms
  • 8. Why Use A Real Estate Agent?Advises you about theimportance of ahome inspectionand other inspectionsrequired by law
  • 9. Why Use A Real Estate Agent?Assists you inunderstanding differentfinancing options
  • 10. What Is A REALTOR®?We adhere to a strict codeof ethics and are committed totreat all parties to atransaction honestlyREALTOR® business practicesare monitored at local boardlevels
  • 11. Buyer RepresentationBuyer representation exists toprotect you I will run comps so we can determine the fair market value of the home I will help you determine the appropriate price
  • 12. 2. Getting Pre-ApprovedA mortgage pre-approval will determinehow much money youcan borrow for thepurchase of your newhome
  • 13. Getting A Pre-approval LetterThe process involves: Calculating your income vs. debt ratios Running a credit reviewA pre-approval letter willstrengthen your position whenmaking an offer on a home!
  • 14. 3. Finding The Home
  • 15. Assessing Your Needs - LifestyleHow you live will helpdetermine where you live What is the driving force behind this move? (Job, family, more space, schools, lifestyle, etc.) What type of activities do you enjoy?
  • 16. Assessing Your Needs – Your Dream HomePutting together your wish list Who will be living in the house? How much space do you think you will need? Other considerations include: Age of home, lot size, kitchen, baths, layout, style, condition. What are three “must have” features for your new home?
  • 17. Listing AlertsI will set you up to receive“Listing Alerts” so you canbe the first to know whennew homes matching yourcriteria come on the market!
  • 18. 4. Making An Offer
  • 19. How Much To OfferMaking an offer to purchaseinvolves more than picking apriceWe will reviewcomparable propertiesin the neighborhoodthat have sold recently
  • 20. Negotiable Terms In The ContractOther negotiable items in thecontract we will discuss include: Inspections, repairs and home improvements Closing costs, points or home warranty Closing data and possession
  • 21. 5. Negotiating The Offer Once the offer is submitted, I will work with you in the negotiations
  • 22. Inspecting The PropertyHome inspections will serve as aneducation in the structure andsystems of the property you arepurchasingThe inspector(s) will give youinformation regarding condition,maintenance, lifespan and moreI will help guide you through theprocess so you can negotiate repairsfor the property based on thereview of the inspections
  • 23. Executing The Deal
  • 24. 6. Processing The LoanNow that you have the seller’sfinal approval, we need thelender’s final approval
  • 25. Final Financing ApprovalFinal approval means all conditions onthe loan have been removedFor example: There are no liens on the house The house appraised at a value equal to or greater than the agreed upon sales amount
  • 26. 7. Closing & FundingJust before settlement, wewill make one lastinspection of the propertyto ensure that the home isin the condition we expect
  • 27. Making Arrangements For Closing Homeowners insurance Home warranty Certified funds for down payment & closing costs Utilities and movers
  • 28. Welcome Home!
  • 29. LET’S GET STARTED