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Guide To Buying Real Estate

There are many things to consider when you are thinking about buying real estate. Let us help make the process clear and simple. Take a look at this book to help you understand where to begin. Give us a call when you are ready to get started!

There are many things to consider when you are thinking about buying real estate. Let us help make the process clear and simple. Take a look at this book to help you understand where to begin. Give us a call when you are ready to get started!

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GUIDE TO<br />

BUYING<br />

REAL ESTATE


D A R C Y H A R D Y<br />

Driven by an unwavering desire to help people,<br />

Darcy Hardy has built a successful career in real<br />

estate that continues to go from strength to<br />

strength.<br />

For Darcy, it is an absolute privilege to guide her<br />

loyal clientele through what can sometimes be<br />

a stressful process. She loves nothing more<br />

than seeing people’s property dreams become<br />

a reality.<br />

Darcy has almost 10 years in the industry and<br />

specializes in residential sales within the vibrant<br />

markets of Seattle, Bellevue, Kirkland,<br />

Redmond, Woodinville, Bothell, and beyond.<br />

Backed by a degree in Finance and a minor in<br />

Interior Design Darcy earned an MBA from The<br />

Darden School of Business at UVA, She has the<br />

technical nous and real-world experience that it<br />

takes to ensure your next move in property is a<br />

success.<br />

No two days are ever the same in the real<br />

estate world and this is exactly what excites<br />

Darcy about the industry. Having lived and<br />

worked throughout the country, Darcy has<br />

experience across a wide variety of real estate<br />

markets and has worked with people from all<br />

walks of life.<br />

She prides herself on her effective<br />

communication and negotiation skills and<br />

cutting-edge marketing tactics and sales<br />

strategies to guarantee her clients’ properties<br />

stand out from the crowd.<br />

Credentials<br />

Licensed <strong>Real</strong> <strong>Estate</strong> Designated<br />

Broker<br />

BBA in Finance with a Minor<br />

in Interior Design<br />

MBA - Darden School of<br />

Business at UVA<br />

Certified <strong>Real</strong> <strong>Estate</strong> Instructor<br />

Certified Divorce Specialist<br />

Certified Negotiation Expert (CNE)<br />

Certified Master Negotiations Expert<br />

(MCNE)<br />

Certified Express Offers Agent<br />

Certified eXp University Mentor<br />

2x - eXp Icon Agent Award<br />

5 Star Professional<br />

Nationally Recognized <strong>Real</strong> <strong>Estate</strong><br />

Speaker<br />

W W W . H A R D Y G R O U P R E . C O M


WHY BUY WITH DARCY?<br />

Darcy understands that your purchase is not just a financial investment but also an<br />

investment in security and comfort for you and your loved ones. It is with that in<br />

mind that she guarantees the following:<br />

Outstanding Service<br />

Impeccable Communication<br />

Integrity<br />

Transparency<br />

Extensive Industry Knowledge<br />

<strong>To</strong>p Vendor Recommendations<br />

Schedule all home viewings<br />

Schedule flexibility<br />

Attend home viewings<br />

Assist in formulating an offer strategy<br />

Explain all contractual terms and conditions<br />

Negotiate with the Listing Agent<br />

Ensure all necessary paperwork is completed accurately<br />

Facilitate inspections and appraisals<br />

Ensure all actions comply with real estate laws and regulations<br />

Uphold ethical standards


B U Y I N G<br />

P R O C E S S<br />

Money through Move<br />

F I N A N C I N G<br />

Pre-approval<br />

Pre-Underwriting<br />

What to expect<br />

Lender suggestions<br />

H O M E S E A R C H<br />

Online search<br />

Viewing houses<br />

Adjusting priorities<br />

I N S P E C T I O N ( S )<br />

Home Inspection<br />

Sewer Inspection<br />

Septic Inspection<br />

Well Inspection<br />

C O N T R A C T<br />

Write an offer<br />

Choose terms to<br />

offer<br />

Strategy for offer<br />

N E G O T I A T I O N<br />

Price<br />

Terms<br />

Strategy<br />

C L O S I N G<br />

Appraisal<br />

Final underwriting<br />

Title Check<br />

Funding<br />

Recording<br />

Keys


WINNING IN MULTIPLE OFFERS<br />

<strong>Buying</strong> during a multiple offer season is not always easy. However, there are some<br />

proven techniques that often get you the house. Note that these do have risks and<br />

thus are to be carefully considered before using.<br />

Quick Closing<br />

The faster you close,<br />

the less the seller pays.<br />

This is often desirable.<br />

Waive Title<br />

If we have already seen<br />

the preliminary title, this<br />

can be an easy thing to<br />

waive.<br />

Pre-Inspect/Waive<br />

If there’s time, doing a<br />

pre-inspection helps<br />

protect you and is<br />

attractive to the seller.<br />

Waive Appraisal<br />

Waiving the low appraisal<br />

contingecy could mean a<br />

higher down payment.<br />

Waive Financing Release Earnest $<br />

While you might still be<br />

getting a loan, this waives<br />

your financing<br />

contingency.<br />

Allowing the seller to get<br />

the earnest money funds<br />

before closing is attractive<br />

to sellers.<br />

Seller “free” Rent Back<br />

The seller may be buying as well. If the seller needs to use the funds<br />

from the current house to buy the next, they often want to stay in the<br />

house past closing. Allowing them to stay in the home for an additional<br />

few weeks can often win a home.


EARNEST MONEY<br />

THE COST OF BUYING PROPERTY<br />

The list below is an estimate<br />

and may not be a complete list.<br />

1-5% of the purchase price<br />

The Buyer offers earnest money to show they are genuinely interested in the<br />

property and intend to buy. The earnest money is usually due two days of getting<br />

into the contract and is held in escrow until closing. All the earnest money goes<br />

towards the purchase, so it is often considered a deposit. If the Buyer leaves the<br />

contract for a reason allowed by the agreement (a contingency), they get the<br />

money back. However, if they leave the contract for a non-approved reason, the<br />

Buyer may lose the money (for example, if, two days before closing, the Buyer<br />

changes their mind).<br />

INSPECTIONS<br />

$500 - $650 for Single Family Homes<br />

$300 - $500 for Condos<br />

$350 - $450 for Sewer Scope<br />

$400 - $800 for Well<br />

Inspection fees are paid directly to the inspector before or during the inspection.<br />

The seller pays for septic inspections. Other types of inspections can be done,<br />

such as a roof, HVAC, pest, or mold inspection.<br />

APPRAISAL<br />

$750 - $1,000<br />

The Appraisal could be rolled into closing costs, or the lender may request a credit<br />

card number to be paid upfront. But, again, it varies by lender and the rules of the<br />

product you use for your loan.<br />

CLOSING COSTS<br />

Fee for title and escrow<br />

Loan associated fees<br />

Recording Fees<br />

Compensation for Representation<br />

(when not covered by seller)<br />

Pro-rated Property Taxes<br />

Pre-paid Property Taxes<br />

Pro-rated HOA Dues<br />

Pre-paid Home Owners Insurance<br />

W W W . H A R D Y G R O U P R E . C O M


Who Pays<br />

for What?<br />

COSTS DEFINED<br />

Seller<br />

Buyer<br />

REAL ESTATE COMPENSATION*<br />

The Seller pays the Listing Agent a fee for<br />

their guidance and representing the Seller.<br />

* Sometimes the Seller will offer to pay all or<br />

a part of the Buyer Broker’s fee as well.<br />

50% ESCROW FEES<br />

The Seller pays for half of the escrow charge<br />

for the transaction. The cost is reduced from<br />

the profits of the sale. If there are no profits,<br />

the Seller must bring money to the closing.<br />

100% TITLE INSURANCE FOR BUYER<br />

The Seller pays to insure the title of the<br />

property for the Buyer. The cost is based on<br />

the purchase price<br />

PRORATED PROPERTY TAX AND HOA<br />

The Seller pays any outstanding property taxes<br />

and HOA dues prorated to the sale date.<br />

100% EXCISE TAX<br />

The Seller pays an excise tax to the<br />

government based on the purchase price.<br />

MISC. SMALL FEES<br />

The Seller often times has a few small fees.<br />

REAL ESTATE COMPENSATION*<br />

The Buyer is responsible for paying the agreed<br />

upon commission for their representation. *<br />

Seller may offer to pay some or all of the<br />

Buyer Broker’s fee as an incentive to Buyers.<br />

50% ESCROW FEES<br />

The Buyer pays for half of the escrow<br />

charge for the transaction.<br />

100% TITLE INSURANCE FOR LENDER<br />

If the Buyer gets a loan, then the Buyer must<br />

purchase a title policy for the lender to ensure<br />

the property title if the lender ever needs it.<br />

PRORATED & PREPAID PROPERTY TAX<br />

The Buyer pays prorated property taxes<br />

based on the date of closing. The loan may<br />

require them to pre-pay a few months of<br />

future property taxes.<br />

100% LENDER FEES<br />

If the Buyer obtains a loan, the Buyer is<br />

responsible for all associated fees.<br />

HOA DUES<br />

The Buyer pays any HOA dues prorated<br />

from the date of purchase.<br />

PRE-PAID HOMEOWNER'S INSURANCE<br />

If the Buyer gets a loan, they must pre-pay a<br />

portion of the homeowner's insurance.<br />

MISC. SMALL FEES<br />

The Buyer often times has a few small fees.


TAKE THE NEXT STEP<br />

Take the next step.<br />

Finding a Lender<br />

Finding Lender<br />

REVOLUTION MORTGAGE<br />

KEITH PITSCH | LOAN CONSULTANT | NMLS 1012367<br />

206.713.9063 | KPITSCH@REVOLUTIONMORTGAGE.COM<br />

My goal is to empower you with the knowledge that gives you a competitive<br />

advantage and peace of mind throughout the mortgage process. As your<br />

trusted loan consultant with over 20 years in the mortgage industry, I will walk<br />

you through every step and support you from pre-approval to the closing date.<br />

So whether you are looking to buy your first house, build a real estate<br />

portfolio, or get that vacation house you have been dreaming of, I am here to<br />

help coach you through your options and create a strategy that works for you,<br />

your life, and your goals!<br />

I am licensed in 11 states: WA, OR, ID, MT, CA, UT, AZ, WY, TN, OK, and FL.<br />

Follow me on Instagram & YouTube @kp.moneyman<br />

Revolution Mortgage| RevolutionMortgage.com| Equal Housing Lender| Not a commitment to lend<br />

B.E.C.U.<br />

JENNIE LAUGHLIN | MORTGAGE ADVISOR | NMLS 1896553<br />

425.609.5440 | JEANETTE.LAUGHLIN@BECU.ORG<br />

With more than 20 years of lending experience in Snohomish and Skagit<br />

counties, I am prepared to guide members through the mortgage process. I have<br />

previous credit union experience as a lending manager and understand the<br />

importance of building relationships with members. I will take the time to<br />

understand what is important to you and provide financing options that fit your<br />

needs. I aim to provide you with the best possible experience from application<br />

through closing and beyond! I look forward to being your home loan resource.<br />

Your satisfaction is my top priority.<br />

BECU | BECUHomeLoans.org | Equal Housing Lender | Not a commitment to lend


MOVEMENT MORTGAGE<br />

JESSICA TALTON | BRANCH MANAGER | NMLS 1045355<br />

206.551.4058 | JESSICA.TALTON@MOVEMENT.COM<br />

As a Branch Leader with over 15 years of experience in the finance industry,<br />

I am dedicated to providing personalized financial solutions and guidance to<br />

help individuals and families secure their future. Whether it's navigating the<br />

home buying process or developing a long-term financial plan, I am<br />

committed to empowering my clients to make informed decisions that will<br />

benefit them for years to come. We are not transactional, we build lifelong<br />

relationships with our clients. Let's work together to turn your dreams of<br />

homeownership into reality.<br />

Licensed in WA, OR, CA, and GA.<br />

Movement Mortgage | TeamTalton.com | Equal Housing Lender | Not a commitment to lend<br />

NEWREZ<br />

DANNY FORBES | BRANCH MANAGER | NMLS 487449<br />

425.599.2607 | DANNY.FORBES@NEWREZ.COM<br />

Danny has been in the mortgage industry since 2004. He prides himself on<br />

educating each client with the knowledge they need to make an informed<br />

decision. Danny views a mortgage as one piece of the puzzle to help his<br />

clients reach their financial goals. He goes above and beyond with each<br />

client by discussing topics such as leverage, compounding interest, tax<br />

deductions, and many others to help them reach their financial goals<br />

sooner. Danny has unique strategies to help his clients get their offers<br />

accepted in any market. Give him a call to learn more.<br />

NewRez LLC. | NewRez.com | Equal Housing Lender | Not a commitment to lend


T H O U S H A L L N O T . . .<br />

What not to do when in a contract (if getting a loan)<br />

...change jobs, become self-employed or quit<br />

...buy a car, truck, van, or motorcycle<br />

...use credit cards more than normal<br />

...stop paying bills<br />

...spend money you have set aside for closing<br />

...omit debts or liabilities from your loan application<br />

...buy furniture<br />

...originate any inquiries into your credit (no applying for credit cards, etc)<br />

...make large deposits or cash deposits without checking with your loan officer<br />

...change bank accounts<br />

...co-sign a loan for anyone<br />

...change marital status<br />

Each of these items can risk you qualifying for the<br />

loan and can make you lose the house.


U N D E R S T A N D I N G T I T L E<br />

A N D E S C R O W<br />

Title<br />

Most people don't understand what TITLE is for a real estate transaction and how<br />

it protects the buyer. "Title" refers to a title insurance policy that the seller will<br />

purchase for the buyer and a second policy that the buyer will purchase for the<br />

lender (no second policy is needed in a cash transaction). The title company<br />

researches the property to find and insure against the following:<br />

Errors in public records<br />

Unknown liens<br />

Illegal deeds<br />

Missing heirs<br />

Judgments<br />

Taxes & levies<br />

Easements<br />

Assessments<br />

Surveys<br />

In the event any of the following show up after the closing of the property, you as<br />

the buyer have insurance to help resolve the issue.<br />

Escrow<br />

"Escrow" is a term that describes the neutral third-party handling of funds,<br />

documents, and tasks specific to the closing (or settlement, as it is also<br />

known), as outlined on the real estate purchase agreement or sales<br />

contract. The purpose of escrow is to facilitate the transaction by managing<br />

the disbursement of funds and documents. This includes calculating who<br />

owes funds and who is owed funds and the amounts. Escrow is also<br />

responsible for recording the official change in ownership with the county.<br />

W W W . H A R D Y G R O U P R E . C O M


CONTACT US FOR<br />

MORE INFORMATION<br />

@the_Hardy_Group<br />

@HardyGroupRE<br />

@the_Hardy_Group<br />

@HardyGroupRE<br />

@the-hardy-group-real-estate<br />

2 0 6 . 5 5 7 . 9 1 0 3<br />

D A R C Y @ H A R D Y G R O U P R E . C O M

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