This document provides an overview of the home buying process from start to finish in 8 steps: 1) Signing an agency agreement with a real estate agent 2) Obtaining financing through pre-qualification or pre-approval 3) Searching for a home with the agent's assistance 4) Making an offer and entering due diligence 5) Performing inspections during due diligence 6) Closing on the home purchase 7) Understanding typical closing costs 8) Tips for a smooth move into the new home The document also defines common real estate and financial terms to aid in navigating the process.

1. Personally Prepared for You By Jordyn Lally
JordynLallyRealty.com Jordyn.Lally@gmail.com 919-628-6581
Home Buying Guide

2. The Home Buying Process
¨ Agency Agreement
¨ Obtain Financing
¨ Home Search
¨ Present Offer
¨ Due Diligence
¨ Closing!
“Every 30 seconds, a
RE/MAX agent helps
someone find their
perfect place.”

3. Agency Agreement
*Communication
is the key to a
great
relationship.
Save my contact
information and
reach out to me
with every
question or
concern. I am
here to help
every step of
the way!*
¤ Initial Consultation with Agent; discuss home buying needs, time frame, ensure good
working relationship.
¤ Sign Working With Real Estate Agents
¤ Sign Buyers Agency Agreement
The best part of having a Real Estate agent represent you for the purchase of your home is that the
seller pays me! My loyalty is to you. I will guide you through the entire home buying process to ensure
you are making the best financial and personal choice.

4. Financing
In today’s
fast paced
market it is
best to have
a pre-
qualification
letter ready
to be
provided
with any
offer. This
will set your
offer apart
if there is a
multiple
offer
situation.
Della McDowell
OnQFinancial
919-414-3912
Tom Deadmore
Movement Mortgage
919-625-1935
Elliot Weil
DNJ Mortgage
919-616-6598
Pre-Qualified vs. Pre-Approved
Getting pre-qualified is the initial
step in the mortgage process, and
it's generally fairly simple. You
supply a bank or lender with your
overall financial picture, including
your debt, income and assets. After
evaluating this information, a
lender can give you an idea of the
mortgage amount for which you
qualify. Pre-qualification can be
done over the phone or on the
internet, and there is usually no cost
involved. Loan pre-qualification
does not include an analysis of
your credit report or an in-depth
look at your ability to purchase a
home.
Getting pre-approved is the next step,
and it tends to be much more involved.
You'll complete an official mortgage
application (and usually pay an
application fee), and then supply the
lender with the necessary
documentation to perform an extensive
check on your financial background and
current credit rating. From this, the
lender can tell you the specific
mortgage amount for which you are
approved. You'll also have a better
idea of the interest rate you will be
charged on the loan and, in some cases,
you might be able to lock-in a specific
rate.

5. Home Search
What are your top
5 Non-Negotiables?
1.
2.
3.
4.
5.
Once we have discussed the features you need in a home we will begin the search together.
A search on the Triangle Multiple Listing Service will be set up for you. You and I will receive
notifications of new homes that have hit the market.
Please feel free to continue to search on your favorite Real Estate websites. Do keep in mind they are
not updated as frequently as the MLS. If you find something you like give me a call/text/email!
If you come across a For Sale by Owner let me know. We can take a look at the property together
and make sure the transaction goes smoothly.
Considering New Construction? Great! You are welcome to go by the model home and provide them
with my card. I will continue to work along side you to make sure you have someone looking out for
your best interests. The on-site agents will always have the builders bests interests in mind!
*Did I mention my guidance for you in the Real Estate process is paid for by the Seller!*

6. Offer to Purchase
We found
your
dream
home! Lets
make an
offer!
¨ Decide on sales price. Provide Pre-Qualification letter.
¨ Due Diligence and Initial Earnest Money “usually” equals 1% of offer price.
¨ Due Diligence provides the buyer with a time frame (usually 1-2 weeks) to perform inspections. If the
buyer decides to terminate the contract during the due diligence period, funds will be returned. Once the
due diligence period is over the funds will go towards the amount due at closing.
¨ Initial earnest money is compensation given to the seller to take the home off of the market. If the contract
is terminated at any point in time before closing the funds will be given to the seller.
¨ Consider what items if any, you would like left in the home. Examples are refrigerator, washer dryer, play
set etc…
¨ Decide on length of time before closing.
¨ Sign Residential Property Disclosure and Mineral Rights Disclosure.
¨ Sign offer and send back to me for review and submission.

7. Due Diligence
We work with only the
most trusted licensed
professionals. They
provide outstanding
detailed inspection
reports to ensure your
home is in the best
care.
¨ During the due diligence process we will discuss what inspections need to take place and I will
schedule them for you.
¤ Following the completion of a home inspection we will discuss the findings. A list will be compiled and sent to the listing
agent requesting the items to be acknowledged by the seller. The seller will then decide which items to fix or provide
compensation.
¤ A pest inspection will be completed to ensure there are no pests or termite damage. Depending on the findings requests
will be submitted to seller.
¤ If needed, a septic, well, radon, lead based paint and structural inspection can be ordered.

8. Closing
“Stay focused,
go after your
dreams and
keep moving
toward your
goals.”
¨ Before closing we will do a final walk through. During this walk through we will make sure all items agreed
to be taken care of by seller have been addressed.
¨ As soon as the HUD statement is made available from the attorney’s office I will look over it to make sure
every financial aspect of your Real Estate transaction is accurate.
¨ With the HUD statement you will be made aware of the amount due at closing.
¨ On the day of closing, please bring balance due along with your driver’s license to the attorney’s office.
¨ Once the Deed has officially recorded you will be given the keys to your new home!!

9. Closing Costs
Closing costs can be
roughly estimated to
3% of sales price.
¨ Loan Origination Fee: Covers the lender’s administrative cost. 1% of
Loan
¨ Interest: One time payment used to adjust the yield on the loan to
market conditions. 1% of loan amount per point
¨ Credit Report: Credit history report obtained by lender. $50-$75
¨ Mortgage Insurance (PM): Is required on mortgages with a loan-to-
value ratio of 80% and up. Cost will vary based on coverage.
¨ Inspection: Performed during due diligence to discover any issues with
home. $325-450
¨ Pest Inspection: Performed during due diligence to note any termite
damage and presence of pests in home. $75-$150
¨ Hazard Insurance: Required by lender. Policy must cover amount of
mortgage. Flood insurance may be needed as well if in a flood zone.
First year premium is paid at closing.
¨ Escrow Deposits: Funds held in escrow account by lender to cover future
payments of taxes, insurance, and mortgage insurance. 2 months hazard,
2 months mortgage and 4 months taxes (average)
Appraisal: A statement of property value conducted by licensed appraiser.
Approx. $400.
Discount Points: A one-time charge used to adjust the yield on the loan to
market conditions. Each point equals 1% of the loan amount.
Title Insurance: Protects against loss due to defects in the title which
cannot be found on public record. This insurance is required by
lenders. Fee is paid once at closing. $2 per $1000 of coverage
Attorney: Attorney is responsible for obtaining title insurance, mortgage
insurance, closing statement and recording pertinent documents. Approx.
$450
Survey: Survey documents exact location of the home and the perimeter of
property. $200-$400
RE/MAX United: Funds dispersed to closing staff at RE/MAX United. $150

10. Steps to a Smooth Move
One month prior to closing:
Ø Contact moving companies to compare rates.
Ø Transfer records; medical, dental, school, veterinarian.
Ø Prepare to transfer insurance plans.
Three weeks before closing:
Ø Change address with post office.
Ø Change address with banks, subscriptions, friends and family.
Two weeks before closing:
Ø Arrange utilities to be on at new home day of closing.
Ø Arrange to have final utility reading day after move from
current home.
Ø Transfer vehicle licenses and driver’s licenses.
Ø We will schedule final walk-thru of property before closing.
Week of closing:
Ø Keep important financial and personal records with you.
Ø Closing day; once home is recorded you will receive the keys!
Ø Move in!

11. Real Estate/ Financial Terms
q Mortgage Insurance - If your down payment is less than 20% of the appraised
value of your home, you will be required to purchase mortgage insurance.
Mortgage insurance insures the lender he will be protected from loss should you
cease making payments.
q LTV (Loan-to-Value) -This percentage is computed as follows: Loan Amount/
Appraised Value of the Home. As an example, a loan of $90,000 on a home
valued at $100,000 has an “LTV” ratio of 90%. In the case of a home equity
line of credit, the LTV is the total loans, including the line of credit, as a
percentage of the value of your home.
q Conventional Loan: - Conventional loans may be a fixed rate/level payment,
fixed rate/graduated payment, or adjustable rate. Down payment
requirements vary, but most conventional loans made without 20% down
payment will require private mortgage insurance (PMI).
q FHA Insured Loan: Any creditworthy applicant is eligible for an FHA loan. FHA
loans are often considered attractive because they have slightly lower down
payment options.
q Adjustable Rate Mortgage: Interest rate may change (increase or decrease)
periodically based on a predetermined financial market index. If the interest
rate changes, the monthly payment may change at the same time or at a future
date. Usually an adjustable rate loan will have a lower initial interest rate than
will a fixed rate loan.
q Interest Rate - The percentage rate that is charged the borrower for the use of the money
borrowed. The rate may be fixed for the life of the loan, or it may change periodically.
q PITI Monthly Payment- The letters PITI stand for Principal, Interest, Taxes, and Insurance.
Most lenders use an amortized loan repayment, which requires the borrower to make
monthly payments on the outstanding principal, interest for the use of the money, and escrow
deposits of 1/12th of the annual property tax and homeowner’s insurance premium.
q Mortgage - A conveyance of an interest in property as security for the repayment
of money borrowed. In North Carolina we use a form of mortgage instrument called a DEED
OF TRUST. The word “mortgage” is often used loosely to imply loan.
q Promissory Note - Promise to repay a loan.
q Appraisal- A written justification of the price paid for a property, primarily based on an
analysis of comparable sales of similar homes nearby.
q Point - A point is one percent of the loan amount. Most new loans have an origination fee of
one point, and many loans also require payment of discount points.
q Deed - The legal document conveying title to a property.

12. Past Client Reviews
"Jordyn was more than a
pleasure to work with. She
was dedicated and warm
hearted to our ever
changing needs. Never once
did she make us feel
pressured to buy anything
we weren't comfortable
with. Once we found a
property to purchase,
Jordyn was always
available to give us
guidance and feedback.
We will definitely use
Jordyn and her services
again in the future." -Biondo
" My husband and I are working
with Jordyn as we are beginning
the process of buying out first
home. The process is new to us
and can be overwhelming at
times. She has made us feel at
ease and has been so patient
and responsive with all of our
questions and concerns ". -Aikman
" I was looking for a very specific
property. Jordyn was very easy to work
with, and more importantly she didn't push
me to something different, but rather was
patient and found exactly what I was
looking for. She was easy to work with
and overall very helpful." -Harrison
"Jordyn is such a joy. She is very organized
and takes the time to ensure her clients are
happy. Jordyn is genuinely glad to help and
available for questions. We are building a
house now and her advice has been
extremely helpful. When we are ready to
put our current home on the market, Jordyn
will be our agent.“ -Dana

13. My Commitment to You
My goal is not just to sell you a house,
my goal is to open the door to your future. A home
is a place that evolves into your own, where you can
relax and create memories. I will put every effort
into finding the house you will love to call a home.
Whether it is your first home, your fifth home or
even an investment property. The home buying
process should be a fun and exciting time!
My promise to you is to search every
available resource for the home that meets your
needs and will excite and motivate you! Once we
find that home I will continue to guide you through
every step of the home buying process. I give my
personal phone number and email to all clients to
cultivate a relationship beyond a business
transaction. I enjoy sharing my knowledge and
passion for this industry and would be honored to
help you find what you are envisioning!
Cell Phone: 919-628-6581
Email: Jordyn.Lally@gmail.com

14. Free Moving Truck
Every client of The Dukes
Team is offered the
opportunity to use the
moving truck for FREE for
life!

15. Giving Back to Our Community
Heroes Home Advantage
Children’s Miracle Network
We are proud to support our local heroes! 62 children enter a Children’s Miracle Network
Hospital for treatment every minute — that's
one child every second. A percentage of
proceeds from every closed sale will be
donated to the Duke Children’s Hospital!

16. HOME BUYING GUIDE
Prepared for You Personally By: Jordyn Lally
RE/MAX agents sell more real estate than any other U.S. brand.