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Your Needs Come First
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Finding and buying the right
home is a highly personalized
process, and it all begins
by identifying your needs. |
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As you think about finding a home, the following worksheets can help me clarify
your needs. These worksheets explore areas such as:
• The values, interests and priorities you want this move to support.
• The features you are looking for in a home.
• How a neighborhood can best match your needs and lifestyle.
• How the homefinding process will need to be tailored to fit your plans.
• The support you expect to receive from me. |
Defining Your Ideal Home
The property you buy will be much more than a house; it will be your
home. The following questions can help you describe the things that are
most important to you in your ideal home and neighborhood.
1. For some people, "home" means a hub of
social activity; for others it might be a place to
retreat from the pressures of daily life.
What does "home" mean to you?
2. Who will be living in your household? Will you
often have other family members or friends
visiting for more than a few days at a time?
3. If you will be working outside your home,
what would you consider a comfortable
commute (in time or distance)? Will you be
working at home?
4. What are the most important activities for
the members of your household? For example,
hobbies, recreation, school, entertaining,
religious or cultural activities.
5. What are one or more features you liked
most about homes you have lived in
previously? This might include style:
floorplan, yard, view, and neighborhood.
6. What is something you disliked about the
house or neighborhood where you have lived
previously, and that you would want to avoid
in your next home?
7. What are the most important "must have" features of your ideal home and neighborhood?
Why are they important? |
Looking Ahead to the Homefinding Process
The following questions will help identify how finding and buying a
home can be an enjoyable experience for you.
1. How far along are you in the homefinding
process (just thinking about the possibility of
buying a home, or definitely committed to
making a move)? How long have you been
looking for a home?
2. Why are you contemplating the purchase of
a home at this time?
3. What is your time frame? Is there a definite
time by which you must be settled in your
new home?
4. Who will be included in the homefinding and
buying decisions?
5. Have you ever purchased a home before?
If so, how many, and how recently?
6. Thinking of previous homefinding experiences,
what were the most positive features of those
experiences? If you have never bought a home
before, what are you looking forward to most
in the experience?
7. Were there any unpleasant features of your
previous homefinding experiences that you
hope to avoid this time? If you are buying
your first home, are there any problems or
concerns you are worried about?
8. How do you plan to handle the financing of
your new home? Are you aware of your
financing options?
9. What are your expectations of me as your real
estate professional? What specific services
and support do you expect? |
Finding and Buying a Home
The homefinding process typically includes many of the following
elements.
I will be your resource and guide every step of the way.
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Your Single Source for
Property Information
I have access to virtually every property for sale in this market, and will
show you the homes that best match your requirements, including:
• All homes marketed by Prudential Real Estate members
• All properties listed by other brokers through the Multiple Listing Service (MLS)
• Properties not necessarily on the open market yet
• Many properties offered “For Sale By Owner”
To save you time, hassle and duplicated effort, call me for additional
information on properties you see, regardless of whether or not they are
being offered by a Prudential Real Estate sales professional. I can obtain
important facts about homes you see:
• Advertised in newspapers or buyers’ guides
• On the Internet
• Open houses
• Displaying “For Sale” signs
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How to Look at Homes
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Discovering the right home should be
an exciting event.
As a Prudential Real
Estate professional, my commitment is
to make your home search as stress-free
and efficient for you as possible. |
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• Identifying up-front what is affordable will save time and frustration in the homefinding
process. It is important to consider the financing options available and to begin the
mortgage pre-approval process as soon as possible.
• From the multitude of properties currently on the market, I will select those that most
closely meet your unique needs and interests. It is best to preview only a few homes at
a time.
• We will schedule time to look at homes and neighborhoods. I will arrange showing
appointments with the sellers or their brokers.
• If the seller or their real estate professional is at the property when we are there, it would
be best for you to limit your conversation with them.
• You can use the Homefinding Worksheets I give you to evaluate each property.
• In order to help me find the right home for you, I will ask you to tell me your thoughts
about each property you see — the positives and the negatives. We will continue to assess
your needs and buying criteria. |
Submitting an Offer
Once you have found the right property, the next step is to make a purchase
offer to the seller.
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Determine the price you want to offer.
- The price the seller is asking may or may not reflect realistic market value.
- The best way to determine market value is with a Comparative Market Analysis (CMA)
showing similar properties that sold recently, those that are currently active on the
market and those that failed to sell.
- I will discuss with you an estimate of costs associated with purchasing this property.
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Decide on financing.
- We will review together the status of your loan pre-approval.
- We will work together with your loan officer to explain financing options and help you
determine the mortgage plan that best fits your requirements.
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Decide on other issues that are important to you, such as:
- Items of personal property you want included with the house.
- Warranty, inspections, repairs or other home enhancements by the seller.
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Closing date and possession.
- I will present your offer.
- The seller will have three choices: accept your offer as it is presented; reject it
completely; or propose adjustments to your offer (counteroffer).
- If there is a counteroffer, you can choose whether to accept it, reject it or counter it.
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Once you have reached agreement with the seller, you will have a firm contract to
purchase the home.
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Important Ways to
Protect 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 to the
property.
• 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.
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Completing Your Home Purchase
Many details need to be taken care of in order for a home purchase to be
completed. It can take 15 - 90 days to complete all the steps involved in a
home sale, depending on the complexity of the transaction. I will work
closely with everyone involved in the transaction to help ensure that it
moves ahead as smoothly as possible:
• Explain to you in detail all the steps that will occur, and answer any
questions you might have.
• Work with the seller’s broker to see that they fulfill their responsibilities
under the contract.
• Stay in touch with the settlement officer, title officer, lender and others to
help coordinate their activities and to help keep the transaction moving
forward.
• Communicate with you on a regular basis so that you can stay informed and
as worry-free as possible.
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A Smooth Transition to
Your New Home
Here are some things to consider as you make the move to your new
home. I can suggest local professionals for many of these services.
4 weeks before your move
- Contact and contract with a reputable moving company.
- Have school records transferred.
- Arrange to transfer (or take with you) medical, dental and other important records.
- Prepare to transfer your homeowners and auto insurance to be sure you will be
covered for any unforeseen disasters.
- Keep track of moving-related expenses. (Check with your accountant to find out what
expenses will be deductible).
3 weeks
- Obtain and mail change-of-address cards to the post office, subscriptions, credit card
companies and important contacts.
2 weeks
- Arrange for final utility reading at your former residence the day after your move and
have utilities and phone turned on at your new home the day before you move in.
- Close or transfer bank accounts.
- Terminate newspaper delivery service.
- Arrange for transfer of vehicle licenses and driver’s licenses.
- Have an extra supply of prescription medications for the next four weeks.
- We will schedule a final walk-through of the property to make sure everything is in
order.
Week of your move
- Keep valuable financial records and personal papers with you; do not pack them with
the rest of your household goods.
- On closing day, the home purchase documents record and the home is yours.
- Move in!
After you move in
- Consider plans for landscaping design, installation and maintenance.
- Review home security requirements and systems.
- New home furnishings, appliances, and interior decorating will help make the house
your home.
Enjoy your new home!
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Financing Your Home Purchase
Unless you are in a position to pay all cash for your home, you will need
to obtain a home loan (mortgage) to complete the purchase. I will assist
you in this process to help ensure that you obtain the financing that
meets your needs.
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Being approved for a loan before you submit an offer will put you in a
stronger negotiating position and can save time in the loan approval process.
- I can put you in touch with experienced loan officers at leading mortgage
companies. Your loan officer will be your principal guide through the
financing process.
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Various financing options may be available to you, including:
- Fixed Rate Mortgage
- Adjustable Rate Mortgage (ARM)
- Government-assisted (FHA or VA) financing
- Seller-assisted financing
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You can expect the lender to ask for standard information regarding your
income, expenses and obligations.
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