Home buyer guide.pdf - Abie Galarosa

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HOME BUYER Survival Guide Everything you need to know about the home buying process MERCY LUGO-STRUTHERS DRE LIC. 01786428 703.861.6510 | www.casalsrealtors.com | [email protected] "In my experience, a home isn't a dream home because of its room dimensions. It's about how you feel when you walk through the front door, and the way you can instantly envision your life unfolding there. This is about more than real estate - it‘s about your life and your dreams and its about our passion to serve and help you find it" - Mercy Lugo Struthers "We understand you are looking for a new home, and we want to be the real estate professionals to help you. We work with each of our clients individually, taking the time to understand their unique needs and lifestyle, and we want to do the same for you." eBook Overview This eBook contains helpful information for homebuyers including: Overview of the entire purchase process Answers to frequently asked questions An opportunity for us to set an appointment to go through the Buyer's Consultation THE HOME BUYING PROCESS PHASE 1: GETTING STARTED Work with us as your Realtor Obtain Financial Pre-Approval Analyze Your Needs in a Buyer Consultation Credit Repair/Nurture PHASE 2: FINDING YOUR DREAM HOME Select Properties View Properties Discuss your offer strategy Write and offer Accept the Contract PHASE 3: ESCROW Remove Contingencies Conduct Obtain Conduct Inspections Mortgage Title Search Financing Resolve Receive any Issues Credit, Clear Title Underwriting, Appraisal, Title, Survey Insurance Obtain Title Check Insurance PHASE 4: CLOSING AND POSSESSION Obtain Funds for Closing Close on Property Take Possession of Home House Warming Party THE MORTGAGE PROCESS THE 5 SIMPLE STEPS Step 5 Step 4 Step 3 Step 2 Step 1 Financial Pre- Underwriting Loan Title Funding Qualification or Approval Company Pre-Approval Application Loan package Parties are Title exam, Lender and interview is submitted notified of insurance reviews the to underwriter approval and title loan Buyer provides for approval survey package pertinent Loan conducted documentatio documents Funds are n including completed Borrowers transferred verification of and sent come in for by wire employment to title final signatures Credit report is requested Appraisal scheduled for current home owned, if any MAKING AN OFFER PRICE What you offer on a property depends on a number of factors: Condition Length of time on the market Buyer activity The urgency of the seller. **While some buyers want to make a low offer just to see if the seller accepts, this often isn't a smart choice, because the seller may be insulted and decide not to negotiate at all. MOVE-IN DATE If you can be flexible on the possession date, the seller will be more apt to choose your offer over others NEGOTIATING Typically, you will not be present at the offer presentation - we will present it to the listing agent and/or seller. The seller will then do one of the following: • Accept the offer • Reject the offer • Counter the offer with changes CLOSING 101 PREPARE FOR IT Closing day marks the end of your home- buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following: • A certified check for closing costs • Photo IDs and down payment. Make the check • Social security numbers payable to yourself; you will then endorse it to the title company at • Addresses for the past 10 years closing • An insurance binder and paid receipt CLOSING 101 OWN IT Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are: Delivery of the Buyer's Funds Delivery of the Deed This is the check or wire funds A deed is the document that provided by your lender in the transfers ownership of real amount of the loan. estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses. At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing. YOUR HOME SEARCH We love helping buyers find their dream homes. That's why we work with each client. Individually, taking the time to understand their unique lifestyles, needs and wishes. "This is about more than a certain number of bedrooms or a particular zip code. This is about your life. And it's important to us." WHEN YOU WORK WITH US YOU GET Knowledgeable and professional REALTORS® Committed allies to negotiate on your behalf The backing of a trusted company, Keller Williams Realty, powered by United Home Group WHAT ARE MY NEXT STEPS? Set up a time with me today! MERCY LUGO-STRUTHERS DRE #01786428 Phone: (703) 861.6510 Email: [email protected] 2050 Old Bridge Rd, Suite 101, Woodbridge, VA 22192