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My Home Buyer Services

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Designed for new and upgrading home buyers, this presentation explains the home-buying process and steps necessary for a successful transaction.

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My Home Buyer Services

  1. 1. Home Buyer Services Carmen Queral,PA-C,MBA,#01860714 Rodeo Realty Fine Estates Beverly Hills, CA 90210
  2. 2. • Meeting and Exceeding All Your Home-Buying Needs!
  3. 3. Who I am… • Always prepared, experienced, dependable, knowledgeable, and going the extra mile in service to my clients.
  4. 4. Helping you find the right home… in the right location, at the right price. •Listening ▪I listen to what your needs and wants are, and I am responsive to them. •Home-finding plan ▪I use a customized, systematic, detailed plan to find the right home for you.
  5. 5. What’s important to you? •Communication •I will keep you regularly informed by phone, text, or email—your preference. •Affordability •I will show you homes within your price range. •Needs •I will show you properties that fit your needs. •Convenience •I will simplify the involved home-buying process for you.
  6. 6. My commitment to you As your buyer’s agent, I will work on your behalf to: • Find you the right property • Negotiate the best price and terms for you • Handle the details and keep you informed
  7. 7. Representing your best interests... • Buyer’s agent : ▪ Represents you, the buyer ▪ Has a fiduciary responsibility to work for your best interests • Seller’s agent : ▪ Represents the seller ▪ Has a fiduciary responsibility to the seller • A dual agent : ▪ Represents the interests of both the seller and the buyer ▪ Has a fiduciary responsibility to both parties
  8. 8. • Yay, The Search Begins!!!!
  9. 9. I will show you how our Online Partnerships Simplify your home search and expand your opportunities! Home Search Central
  10. 10. Multiple Listing Service I can show you any property listed through the Multiple Listing Service (MLS). ▪ Our office offers area-wide multiple listing information that shows thousands of broker-listed homes for sale, regardless of the seller’s agent. ▪ I will show you the properties that meet your criteria. ▪ I can arrange and coordinate visits to homes that ▪ you’re interested in.
  11. 11. Yard signs and open houses A yard sign or open house can let you know a home is available, but I can help you know if it’s worthwhile. ▪ I will arrange private showings of all homes that meet your search criteria. ▪ I will accompany you for all showings, however—if you do visit an open house on your own, please give the salesperson my card and tell them that I am your agent.
  12. 12. Many factors affect the price that sellers ask Physical characteristics of the house: ▪ Location ▪ Age ▪ Size of house and lot ▪ Physical condition ▪ Floor plan and style Competition: ▪ Number of properties available ▪ Their prices and terms ▪ Their location and physical condition ▪ How long they’ve been on the market Market conditions: ▪ Interest rates ▪ Availability of financing ▪ Qualified buyer demand ▪ Prices of recent sales ▪ State of the economy ▪ Seasonal demand Asking price also may be affected by: ▪ Seller’s motivation to sell ▪ Seller’s original purchase price ▪ Seller’s need for cash ▪ Opinions of others
  13. 13. The value of a Competitive Market Analysis As your buyer’s agent, I will prepare a Competitive Market Analysis with information on properties similar to the one you’re considering. It will describe homes that: • Are currently on the market • Are under contract • Sold recently • Failed to sell This comparative data will help you determine the value of the home you’re considering.
  14. 14. Mortgage pre-approval • Being pre-approved for a mortgage is necessary to put in an offer and it can also greatly improve your negotiating position. ▪ Sellers and their agents know that a pre- approved buyer is a serious one. ▪ Speaking first with a mortgage specialist will give you a loan decision needed in advance of making an offer.
  15. 15. And speaking of mortgage pre-approval… • These days most sellers require that “proof of funds” (money needed for the downpayment and closing costs) and the pre-approval letter from a loan company be submitted together with the Residential Purchase Agreement. Once you see a property you like and you want to put in an offer, it is too late to start getting the pre-approval process underway. • To even be competitive, the first thing you need to do is meet with a mortgage broker or loan officer and start the pre-approval process. • The pre-approval letter also gives you, as a buyer, the amount that you can comfortably afford to spend on a property, ensures your peace of mind, and targets your home search to properties within your budget.
  16. 16. • Making The Purchase
  17. 17. Preparing the offer… As your buyer’s agent, I will work to: ▪ Prepare an offer that will meet your needs and provide a solid basis for negotiating with the seller. ▪ Apply information from the Competitive Market Analysis that will determine a realistic offer. ▪ I will present your written offer to the sellers’ agent and negotiate on your behalf. ▪ The sellers will have the choice of: –Accepting your offer as presented –Rejecting it completely –Countering it –Countering to Multiple Offers I will communicate to you the sellers’ response and, if necessary, suggest further negotiating options.
  18. 18. Completing the purchase A successful purchase involves several important elements: • Offers and negotiations • The purchase agreement • Full written disclosures • Professional inspections • Home warranty • Title insurance and appraisal • Loan processing • Final walk through • Closing
  19. 19. The Escrow Process •An independent, impartial third party to facilitate the transaction •Handles deposits and documents •Coordinates with Title and Mortgage
  20. 20. Title insurance will protect your interests in the property • A title insurance policy: ▪ Is based on a search of public records that discloses whether any others have a legal claim to the property ▪ Insures you against loss due to any possible title defects
  21. 21. An appraisal provides independent confirmation of the value of the home ▪ Compares the value of the home to others of similar size, features and location ▪ Is usually required by lenders ▪ Is an opinion of the property’s value by an independent appraiser
  22. 22. Thorough inspections of the property by qualified professionals protects your investment value
  23. 23. A Home Warranty can protect you from unforeseen risks ▪ Provides repair-or-replace coverage ▪ Gives you peace of mind ▪ Can be purchased by you or by the seller, as agreed upon in the contract I will provide you with the details of the available Home Protection Plans.
  24. 24. • Financing Your Home
  25. 25. How much home can you afford? • Prequalification: ▪ Establishes how much you can afford to borrow ▪ Is not an assurance of mortgage approval • Pre-approval: ▪ Is a much more complete evaluation of how much you can afford to borrow ▪ Most sellers want to see this at the time an offer is made
  26. 26. Applying for the mortgage... is the first step after your purchase offer is accepted. • The lender may request copies of: ✓Current pay stubs ✓Bank statements ✓Credit card statements ✓Investment/brokerage firm statements ✓Loan statements ✓Tax returns, usually for two years Your mortgage application can be processed more easily if you are prepared with all these documents. Most of the these documents will be needed for a pre-approval evaluation as well.
  27. 27. The financing and closing process Financing your home is an involved process. I’ll help you through it. 1. Loan application is completed and submitted to lender 2. Lender orders appraisal, credit report, verification of your employment and assets 3. Lender provides a good faith estimate of closing and related costs, plus initial disclosures 4. Lender evaluates application and support documents, approves loan and issues letter of commitment 5. Loan documents are signed and notarized in Escrow 6. Lender disburses/wires funds to the Escrow or Title Company 7. Required documents are recorded at the County Recorder’s office, transferring title into your name
  28. 28. A walk-through prior to closing… Lets you confirm the condition of the property. ▪ A thorough walk-through and verification of condition will take place prior to closing. ▪ I will accompany you. ▪ Should a concern arise during the walk-through, I will assist you in resolving it.
  29. 29. After closing….Enjoy your home!
  30. 30. And don’t forget to keep in touch for all your Real Estate needs— my clients are for life, and Everything is Possible in Real Estate!

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