Prudential Northwest Properties Home Buying Guide :Prudential Northwest Properties Home Buying Guide Prepared for my clients
By Kathy Jo Larson, Broker
CMC, CRS, e-PRO, SRES
About Me… :About Me… Real Estate Professional
Real estate professional since 1993
CMS, CRS, e-PRO, SRES, TRC
Member of RMLS, PMAR, NAR, OAR
Top 10% of agents nationwide
Professional service – at your pace! KATHY JO LARSON, Broker
CMC, CRS, E-PRO, SRES Place
Agent
photo
here
About You… :About You… Let’s review some of the points we’ve discussed:
Have you arranged financing for your new home?
Do you know the amount of the loan commitment?
How much of a down-payment do you plan to invest?
With what price range are you comfortable?
Are there any specific neighborhoods or areas that appeal to you?
Ideally, when would you like to be living in your new home?
Do you own or rent your current property?
Who will the decision-makers be?
The Home Buying Process :The Home Buying Process Our initial consultation The home buying process typically includes the following: View and evaluate properties Determine offer price
Decide on financing and terms
Negotiate agreement with a seller Obtain Financing
Consult with a loan officer
Complete loan application
Obtain pre-approval Complete the settlement process
Deposit earnest money
Obtain inspections
Arrange insurance
Sign documents
Record title
Receive keys
Move in! Obtain property appraisal Loan processing
Final loan approval
Understanding Agency Relationships :Understanding Agency Relationships When real estate professionals work with buyers and sellers, “agency” relationships are established.
There are three kinds of agency relationships:
Buyer’s agent – represents the buyer during the home buying process. The buyer’s agent has a fiduciary responsibility to represent the buyer’s best interests, including reasonable care, loyalty and confidentiality.
Seller’s agent – represents the interest of the seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the seller. A seller’s agent works to assist the seller in locating a buyer and in negotiating a transaction suitable to the seller’s specific needs.
Disclosed limited agent – represents the interests of both the buyer and the seller, during the same transaction. A dual agent has responsibilities to both buyer and seller and must act in the best interest of both parties.
A Message from the President :Thank you for considering Prudential Northwest Properties to assist you in the purchase of your home. Aligning with Prudential is a wise decision. No other real estate brokerage in our market area offers the unparalleled services we deliver.
At Prudential Northwest Properties, we are revolutionizing the way real estate is purchased and sold by providing our clients with Home Services. As the only major broker in the area with a Home Services department, we have an advantage over other real estate companies. That advantage is service. All home buyers and sellers working with our sales professionals receive the complimentary assistance of our Home Services Coordinators, standing by to assist you with all the details associated with the home selling and buying process.
If you’re in the market for exceptional service, put the power of Prudential Northwest Properties to work for you today.
Sincerely,
Bert E. Waugh, Jr. A Message from the President Bert E. Waugh, Jr.
President
The Prudential Northwest Properties Advantage :The Prudential Northwest Properties Advantage We are the largest, locally-owned and managed real estate services company in the area
Our brand is recognized by 96% of North Americans
The Prudential name stands for Strength, Integrity & Trust
We have been serving our market area since 1948
Our network includes 1,700 offices and 50,000+ agents, plus over 15 million Prudential Financial global customers
Our company is 650+ agents strong and ranks in the Top 2% of all Prudential brokerages in the United States
We are committed to giving back to our communities through Transitional Youth
Your Home Services Coordinator :Your Home Services Coordinator When you buy or sell a home through Prudential Northwest Properties, you gain complimentary access to our Home Services network of services.
Your Home Services Coordinator (HSC) assists me in providing any services related to home ownership.
Your Home Services Coordinator:
Is available to guide and support you through the moving process
Provides contact information for utility transfers and connections
Obtains moving van and storage estimates
Helps you find the best mortgage loan
Alerts you to discounts on home related products & services
Contacts local service providers on your behalf
All of this and more… for FREE
Home Warranty Buyer Protection :Home Warranty Buyer Protection How an American Home Shield warranty benefits you:
Provides budget protection against costly “surprise” repairs at a time when you’ve just made a major investment in your home
Saves you time and frustration in dealing with unexpected home repair issues
Removes the hassle of finding reliable contractors in your area A home warranty is an annual service plan that provides for the repair or replacement of covered systems and appliances in the home that breakdown due to normal wear and tear.
Financing Your Home Purchase :Financing Your Home Purchase I will assist you in this process to help ensure you obtain the financing that meets your needs.
I will offer to arrange a pre-qualifying or pre-approval meeting with an experienced loan officer at Columbia Mortgage to determine your affordability range
Being pre-approved for a loan before you submit an offer on a home will put you in a stronger negotiating position and can save time in the loan process
Your loan officer will be your principal guide through the financing process and will explain various financing options available to you Unless you are in a position to pay cash for your home, you will need to obtain a home loan to complete the purchase.
Components of a Mortgage :Components of a Mortgage Principal - the original balance of money loaned
Interest - the charge for the use (loan) of money
Property Taxes - the county assessor charges property taxes based on the value of your home
Insurance - coverage for hazard, flood and/or mortgage insurance A monthly mortgage payment may contain several components:
Your Single Source for Property Information :Your Single Source for Property Information I have access to information about virtually every property for sale in this market, and will complete a thorough market search to identify all properties consistent with your needs and price range. Advertised in the newspaper or buyer’s guides
On the Internet
Visiting Open Houses
Displaying “For Sale By Owner” signs I will obtain important facts about homes you see: To save you time and duplicated effort, contact me for additional information on properties you see, regardless of whether they are offered by another brokerage.
Protecting Your Interests :Protecting Your Interests There are several ways to help support a trouble-free home purchase:
A written property disclosure statement from the seller will reveal any problems with the house and the surrounding area that you need to know about
Professional inspections can reveal structural, roof, termite and other problems with the property that the seller will need to remedy
A home warranty can give you peace of mind by providing repair-or-replace coverage of major home operating systems and appliances
A preliminary title report informs you of any problems with the property’s title and a policy of title insurance protects your rights
A walk-through before closing will allow you to make sure all required work has been taken care of and that the property is ready to become yours
My Commitment to You :My Commitment to You The Buyer Service Agreement is our mutual commitment to each other to ensure the best home purchase experience possible. My Duties:
Make a diligent effort to locate a property acceptable to you
Promptly inform you of homes that may meet your requirements
Provide professional counseling on financing options and availability of property
Assist you in obtaining information, preparing offers and negotiating on your behalf
Monitor and oversee the purchase process prior to closing Your Duties:
Provide me information on your wishes and feedback on properties we view
Provide information relevant to your ability to acquire property
Be available at reasonable times to view property and consider making offers
Refer to me all other brokers, builders and sellers with whom you may come in contact regarding an available property
Conduct all negotiations through me
Work exclusively with me in locating, viewing and negotiating for property
Submitting An Offer :Submitting An Offer Once you have found the right property, I will provide you with information on market values on other properties in the area so you can make a sound decision. Then I will prepare a written offer of purchase, reflecting your price and terms. I will provide advice and negotiating assistance on all offers to purchase. I will present your offer and the seller will have three choices:
Accept the offer as it is presented
Reject it completely
Propose adjustments to your offer (counter offer)
If there is a counter offer, you may choose to accept it, reject it or counter it. Once we have reached an agreement with the seller, you will have a firm contract to purchase the home.
How to Find and Look at Homes :How to Find and Look at Homes Discovering the right home should be an exciting event.
My commitment is to make your home search as stress-free and efficient for you as possible. The following will be beneficial to you in your home search:
I will set you up to receive automated E-mails of properties that meet your criteria as soon as they hit the market
I will arrange showing appointments with the sellers or their brokers
You can use the Home Finding Worksheets I give you to evaluate each property
The Best Local Listing Resource :The Best Local Listing Resource My Web site, kathyjolarson.com, is the best online resource for up-to-date information on homes for sale in our market area.
When You Find a Home of Interest :When You Find a Home of Interest Contact me right away if you find a home in which you’re interested and would like more information.
Here are some tips on the best course of action under the following circumstances: New Construction – give the builder or agent representative my business card and tell them you are represented by me
For Sale By Owner – give me a flyer from the property or contact information so I can arrange an appointment for viewing
Any other property listed for sale – email or call me with the address so I can obtain information and arrange an appointment
Our Premium Services Program :Our Premium Services Program For the latest information on homes for sale, register for HomeFinder Pro. Once you search for properties, save your search and choose to receive New Listing Updates. The system will automatically E-mail you a list of newly listed properties that match your search criteria.
My Team Is Here For You :My Team Is Here For You Home Services – Rosie Kaufman
Transaction Coordinator – Lisa Boles
Columbia Mortgage – Jim Griffith
Transnation Title Company – Kelly Kroening
Principal Broker – George Huertas
All the Prudential agents in my office and company My team of real estate professionals is here to serve you throughout the home buying process.
Quality Service Guarantee :Quality Service Guarantee As your real estate professional, I will:
Present an agency law pamphlet, and explain agency relationship.
Explain American Home Shield Buyer Protection Plan.
Gather information to identify your needs and goals and to plan a property search.
Offer to arrange pre-qualifying or pre-approval meeting with Columbia Mortgage to determine affordability range and improve negotiation position at the point of offer.
Commit to priority availability for meeting your needs and schedule for property research and showings. The Quality Service Guarantee is your written commitment from me, assuring the delivery of all of the services described below.
Quality Service Guarantee :Quality Service Guarantee Complete a thorough market search to identify all properties consistent with your needs and price range.
Prepare a written Competitive or Comparative Market Analysis for you prior to your making an offer, per your request, if possible.
Prepare a written offer to purchase the property of your choice reflecting your price and terms.
Provide advice and negotiating assistance on all offers to purchase.
Obtain and review with you the seller’s written property history and disclosure statement.
Recommend professional inspections and review findings and remedies with you.
Monitor and communicate the status and satisfaction of contract contingencies.
Quality Service Guarantee :Quality Service Guarantee Accompany you on a walk through property inspection before closing, if provided for in the contract.
Contact you after the closing to assure the satisfactory completion of all service details.
Offer you the opportunity to evaluate the service provided through the Quality Assurance Survey.
Provide a Home Services Coordinator to assist with home related needs through our exclusive Home Services program.
Satisfaction Guaranteed! :Satisfaction Guaranteed!
Our Next Step… :Our Next Step… While you review paperwork, I’ll run a list of available properties that fit your criteria.