Home Buying Guide

joelnath

Home buying guide that you can review at your own pace.

WHO SHOULD I

WORK WITH...

WHO SHOULD I CHOOSE TO REPRESENT ME TO BUY A HOME?

IS ONE REALTOR DIFFERENT FROM ANOTHER?

WILL A TOP PRODUCING REALTOR MAKE A DIFFERENCE TO ME?

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Contents

1. Who Do I Work With

2. What To Expect

3. Our Resume

4. The Team Concept

5. A Home Buying

Checklist

6. Home Buying

Overview

7. Viewing Properties

8. How To Make An Offer

9. About Metro Brokers

10. Questions To Ask

11 - 12. Common Terms

13. Client Testimonials

14. Notes

Yes!

And it could save you

thousands of dollars!

There are roughly 3,700 licensed real estate

agents in Colorado Springs. In 2016 alone there

were over 35,500 transaction sides - a Buyer

buying a home is one side, and a Seller selling a

home another.

PRETTY IMPRESSIVE STATISTICS!

According to the Pikes Peak Association of

Realtors (PPAR) in 2016: 1,409 Agents closed 3

deals or less in the full year cycle, 464 Agents

only closed 1 deal, and 399 did not close a home

at all. Top Notch Home Team averages 2 deals a

month.

Our Agents have more experience in:

Writing Contracts

Pricing Homes

Exceeding Expectations

Negotiating Deals

Closing Deals


What To Expect From

This Home Buying Guide

Welcome to the Top Notch Home Team's comprehensive Home Buying Guide. Congratulations on

taking one of the first steps towards buying your new home. The home buying process is an exciting

journey that we look forward to helping you navigate.

Whether this is your very first home purchase, another investment, your retirement home, or a new

custom home build, our goal is to make the process as stress-free, enjoyable, and painless as

possible. Our experienced Agents are dedicated to helping you find your perfect home by leveraging

the full resources of the Team so that we can help you achieve all of your real estate goals.

The purchase of a home is typically the largest investment you'll ever make! Most people will buy a

home every six to eight years until they find their forever home, that's not too many homes in a

lifetime. Our Agents will arm you with all the knowledge that you will need throughout the many

stages of a real estate transaction. This guide will show you what to expect as well as giving you

some great tips to keep in mind as you go.

Did You Know?

As a Buyer's Agent our compensation comes from

the Seller side!

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OUR RESUME

The Top Notch Home Team was built from the vision of a United States

Army veteran - Joel Nath. Joel saw the need for an all inclusive Real Estate

Team that was capable of handling every aspect of the purchase of a home,

and the sale of a house - from this guide all the way to the closing table.

Through Joel's military experience, the systems in place, and the tools that

the Team has available we have created the utmost client experience and

service.

Your Local Experts

The Top Notch Home Team's Agents are market

experts across the entire Pikes Peak Region.

The Brokerage we work from - Metro Group Real

Estate - consistently closes deals in Colorado

Springs, Black Forest, Monument, Fountain,

Peyton, Falcon, and Pueblo. We are able to do

this because the whole Team works around the

clock to bring you exceptional service and

unsurpassed market knowledge.

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TopNotchHomeTeam.com


The Team Concept

Why a Team?

The massive success of the Top Notch Home Team is a direct result of the

team concept. We believe that through the use of a dedicated staff, our

Realtors are fully capable of finding your perfect home regardless of your

timeline.

Did you know?

Most of a real estate transaction centers around administrative details;

scheduling showings, arranging home inspections, coordinating with the title

company, and tracking the loan process.

While most Realtors spend a tremendous amount of time working through

the administrative side themselves, our Realtors are able to focus on finding

your perfect home while our staff takes care of the rest.

Meet the Team

Multiple Full Time Realtors

A Marketing Specialist

A Certified Home Stager

A Team Assistant

A Transaction Coordinator

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HOME BUYING

CHECKLIST

A

Variables to Consider and the Mortgage Process

There are many variables to consider

when you're finding your new home.

Deciding what elements are "must

haves" and what elements are "wants" is

extremely important.

Getting a mortgage may seem

overwhelming at first, but don't worry,

Top Notch Home Team works with the

best loan officers in town. We would be

happy to help guide you to the best

starting point in the mortgage process.

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Some Common Home Variables

Where do you want to live?

What monthly payment works for you?

How big a home do you really need?

How many beds and baths must you have?

What size lot do you want?

How many garage spaces do you need?

Some Common Neighborhood

Variables

Is there a Home Owners Association?

What school district is it in?

What does re-sale value look like?

Is there any crime there?

What are the local parks like?

Did You know?

In Colorado almost every Seller will require

to see a pre-qualification letter before

accepting an offer!

Before looking at homes obtaining a prequalification,

or pre-approval letter is essential.

Not only will Seller's take your offer more

seriously, but you'll save time by not looking at

homes that are out of your budget.

Factors to Consider for a Loan

If you qualify for VA, FHA or a Conventional

loan

How much you want to spend

If you need down payment assistance

Loan closing costs

A 30 Year or 15 Year loan

What special programs you qualify for

Things to Not Do Once Qualified

Change or quit your job.

Buy a new car, truck, or motorbike.

Co-sign on a loan.

Spend money set aside for closing.

Originate any new credit checks.

Buy furniture


of

Assessment

Wants

and

Appraisal

Underwriting

the Search for

Start

New Home

Your

Process and

Loan

Work Starts

Title

Days Before

The

Closing

and Negotiate

Write

Offer an

the

Negotiate

Inspection

HOME BUYING

OVERVIEW

A

What You Should Expect In This Home Buying Process

Set expectations.

Ask any questions.

Meet the Team

Establish Wants Vs.

Needs.

Find your home using our

IDX integrated website.

Coordinate with us to

view the homes.

View 4 - 6 homes a day.

Discuss the offer terms

with your Agent.

Write and send offer

through CTMe Contracts.

Seller has the right to

accept, counter, or reject.

Go Under Contract

Inspection and Earnest

Money timelines begin.

Transaction Coordinator

starts processing the

deal.

Contract sent to Title and

lender.

Earnest Money

deposited.

Title requests necessary

documents.

Lender requests any

necessary documents.

Schedule an Inspector,

and attend the inspection.

Write Inspection

Objection with your

Agent.

Negotiate all repair items.

Final Issues

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Review appraisal results.

Negotiate any appraisal

issues.

Provide lender and Title

any further documents.

Loan gets Clear to Close.

Closing scheduled by all

parties.

Closing disclosure

provided with all funds

due at closing.

Schedule final walk

through of your new

home.

Schedule utility turn on.

Close the deal.


Viewing Properties

A Typical Day

Viewing Homes

Experience tells us that viewing any more than 6

homes in a day is counter productive. We are

happy to show homes Monday through Sunday.

The Home Search

The Top Notch Home Team has developed its own

home search website:

As we go through each home, we will discuss

what you like, what you don't like, and if you'd

like to look further into making an offer.

Most Buyers know when they find their perfect

home. It's a great feeling for everyone and we

can't wait to experience it with you

www.TopNotchHomeTeam.com

From there you can customize your own search,

look at projected mortgage costs, save homes, view

neighborhood statistics, and request a showing.

Not all homes for sale are vacant and often require

notice to show them. We will make sure we get you

in the door as soon as possible.

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How To Make An Offer

It is a common misconception that to make an offer on a home Realtors just

call the Seller and tell them how much the Buyer would pay for the house. In

Colorado the Contract To Buy And Sell Real Estate is used to formally submit

an offer on a home. This contract defines dates, deadlines, offer price, taxes,

concessions, closing fees and many more items. Your Agent will be able to

discuss this contract with you in depth and help you with questions that you

may have. Our Realtors negotiate deals every day.

Things to Think About When

Deciding on What to Offer

How long has it been on the

market?

What is the Seller's true motivation?

When do you want to close the

home?

Do you need Seller concessions?

How much would you offer in a

multiple offer situation?

How much will closing costs be?

Questions For Your Agent

When Should I expect a response?

Is an escalation clause necessary?

Where will I need to deposit the

Earnest Money?

What are the average days on

market in this neighborhood?

Are there competing offers on the

table?

Is the home priced correctly?

What happens next?

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About Metro Brokers

Who are we?

Since 1976, Metro Brokers, Inc. has been assisting Coloradans with their

Real Estate needs. In every transaction a Metro Brokers REALTOR® makes

sure that their clients’ interests are best served and maintained with the

highest level of professionalism. At Metro Brokers, we make it simple for

Coloradans to know that our members go the extra step to display and

maintain their REALTOR® designation. Metro Brokers, Inc. is proud that

100% of our members are REALTORS®.

Why a Metro Brokers REALTOR®

The term REALTOR® is a registered collective membership mark that

identifies a real estate professional who is a member of the NATIONAL

ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

REALTORS® are pledged to a strict Code of Ethics and Standards of

Practice. Working for America’s property owners, the National Association

provides a facility for professional development, research and exchange of

information among its members and to the public and government for the

purpose of preserving the free enterprise system and the right to own real

property

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Interview Questions

To Ask Your Agent

Great

Are you a full-time or part-time Realtor?

What is your availability to show me homes?

Are you a single agent or do you work with a team?

Do you typically work in my price range?

Do you specialize in working with Buyers or Sellers?

Do you have a list of vendors who can help me?

Do you have your own website to help me find my next home?

Can you recommend someone to help with the mortgage process?

How do you look for possible Sellers in the area I want move to?

How many homes have you sold this year?

What haven't I asked you that I need to know?

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Real Estate

Terms

Common

Under Contract

Earnest Money

Inspection

Appraisal

CMA

The MLS

Realtor®

When a Seller and a Buyer come to agreement on all terms of

an offer on a home. The contract must be signed by all parties.

Money that the Buyer provides to a third party after going under

contract to act as good faith money. Typically it's 1% of the

purchase price

The event when a certified inspector will comb over the entire

property to find any defects so that we can negotiate repairs.

Most inspections will cost $275 upwards.

The estimated value of a home, as determined by a licensed

appraiser.

A Comparative Market Analysis offered as an opinion of value

by an Agent. CMA's use recent comparable home sales to give

the opinion of value.

The Multiple Listing Service is a large database used by real

estate agents with access to detailed information on property for

sale (and sold) in your area.

Don’t make the mistake of thinking a Realtor is the same thing

as a real estate agent. Not all real estate agents are Realtors;

only those that are members of the National Association of

Realtors (NAR) can call themselves Realtors.

11


Real Estate

Terms

Common

Pre-Approval

Title

Buyers need to be pre-approved for a home loan before

submitting an offer. A pre-approval lets you know how much a

bank will lend you, and lets the Seller know that you can afford

the amount you are offering.

The legal term that identifies a piece of property that the owner

is in lawful possession of that property. The title insurance

protects real estate owners and lenders against any property

loss or damage they might experience due to liens,

encumbrances, or defects.

Home Warranty Buyers can pay a fee to protect the home against future issues

depending on how much their package covers, like plumbing,

heating, or appliances.

Lien A legal claim put on a property in order to receive payment for

debt. The holder of the lien can sell the property to recover the

money owed after the NED is filed.

Foreclosure

COE

Closing

A legal process where the owner has not kept up with their

mortgage payments and subsequently has to give up their rights

to the property or sell it.

A Certificate or Eligibility issued by the Veterans Administration

that certifies a veteran's eligibility for a VA loan.

The final time where all documents are signed and ownership is

transferred.

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Past Client Testimonials

Joel was AMAZING at selling my house. I had already moved out of state and Joel

took care of the whole process. Not only did he sell it one day after listing, he was

able to help us close a week before scheduled! He really made the process

effortless on my part and answered any/all of my questions. Anyone looking to sell

or buy a home, I definitely recommend contacting Joel! I cannot say enough good

things about him. He goes above and beyond anyone to make sure his clients are

happy. Thank you Joel!!!

Lelani Q.

I just wanted to say that Joel did an awesome job at selling our house. He is very

polite and easy to work with and handled working with some difficult people in a

very professional manner, I would recommend him to anyone that is wanting to

sell!!

Holly Y.

Joel was honest, professional, and did a great job helping us sell our home. He

was informative and made the process as painless as possible. I highly

recommend him.

Carissia G.

For more testimonials please visit

TopNotchHomeTeam.com

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14

Notes


Metro Real Estate Group

719.219.6741

Top Notch Home Team

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