Helton Buyer Guide

sam.dahl

A home buying guide

The road to

HOME


2


know moving is a big financial and emotional decision

We

it can be exciting and overwhelming all at once.

and

with us means you have a proven plan to guide the

Working

saving you time, money and unnecessary stress

process,

FINDING

HOME

My wife and I were first time home buyers and

Alex & his team did a great job of educating us

on the whole process along the way. He was so

patient when we were trying to figure out what

we were looking for, and made the whole

process so easy once we decided to move

forward with our house. He has a great team

who provide world class service and are very

quick to respond whenever you have a question.

I highly recommend them!

3


so much at stake, choosing

With

agent can be daunting.

an

want to feel confident that

You

chosen the right one.

you've

who really listens and

Someone

a proven plan to guide you

has

The right

AGENT

to success.

Pardon us, while we toot our own horn...

Two-time Greater Nashville Realtors Diamond Award Winner - awarded to Nashville's top agents

2017 Nashville Business Journal Best Place to Work Winner

Dave Ramsey endorsed local provider

One of Wallethub's best real estate agents for 2018

4


so many decisions to make and things you can't control - moving can

With

overwhelming fast. As real estate experts, we help uncomplicate

become

creating a clear path and guidance throughout the process so you

things,

waste time or money in Nashville's market.

won't

want our clients to feel confidant every step of the way.

We

educate, give guidance and maintain clear, consistent communication

We

The right

TEAM

T H E H E L T O N R E A L E S T A T E G R O U P

5

throughout the process.


STEPS

buying

7step

process

1

Hire a realtor

vs. relational

transactional

rep & 495

buyer

team approach - depth & breadth of service

2

Get pre-approved

get pre-approved?

why

all lenders are created equal

not

low rates - great service

3

View & rank homes

and accessibility - off market

inventory

- team approach

showings

4

1-2 trips, 5-7 homes, regroup after 10 showings

Make an offer

too much, not too little

not

presentation plan & multiple offers

offer

earnest money deposit

5

Remove contigencies

appraisal, financing

inspections,

communication

team approach

6

Map

View

6

7

Prepare for closing

up loose ends

tie

fraud wire

team approach

Close & move-in

walk-thru

final

fraud wire

paperwork & possession


team of specialists can outperform a generalist any day of the

A

week

team member specialized

Every

provide the highest level of

to

& service

expertise

handled by detailed

Details

of experience and service

Depth

availability

more

you start looking for a home, you will need to know how

Before

you can actually spend. By providing financial information to

much

Lender they will determine how much they can lend you. This

your

help narrow down a price range you are comfortable with

will

viewing homes. You will also receive a pre-approval letter

while

will set us up for success when finding and buying your new

that

rates

Competitive

vs. transactional approach

Relational

responsive

Highly

time closing

On

processing

In-house

makers know this market

Decision

your plan to win multiple

What's

situations?

offer

do you set expectations

How

clients?

with

this your full time job?

Is

can I contact for a

Who

fees

Hidden

tricks

Marketing

to approve without vetting

Rush

problems

potential

in closing

Delays

financial priorities

Other

ONE

Why hire one agent when you could hire a Team?

7step

buying

process

TEAM APPROACH

QUESTIONS TO ASK AN AGENT

STREE

VIEW

Who do I call if you are not

available?

people

reference?

TWO

Time to get Pre-qualified & Pre-approved

OUR LOCAL

MORTGAGE PARTNER

NATIONAL

LENDER OR BANK

home.

you to the best loan for your

Guides

situation

Street

View

7

Out of state decision makers


proven system sets you up for success when you find the

Our

home right

this in my price range?

Is

I see myself living in this home?

Could

this a top 3 home I've seen so far?

Is

I like the area?

Do

this meet my needs?

Does

I envision life here?

Can

are the top 2-3 things I wish were different?

What

those deal breakers?

Are

7

View

step

buying

THREE

& rank best homes

process

SHOULD I REQUEST A SHOWING?

ASK YOURSELF DURING SHOWINGS

Do I want to make an offer on this home?

8


New home wish list

Things to consider for your wish list:

size Yard

range Price

yard Fenced

footage

Square

construction

New

bedroom location

Primary

stories or one level living

Two

of bedrooms & bathrooms

Numbers

Before you set out to find you perfect home, it's important to know what you're looking for.

a Wish List helps you identify all the things you absolutely must have as well as

Creating

items that would be nice but you could live without.

those

9

Be sure to share your wish list with your real estate agent!


a Seller's market, the inventory is low and competition is on the

In

Seller's can take their pick of the best offers - the Buyers wins

rise.

a Buyer's Market, the inventory is plentiful and the Buyer's goal

In

to get the best possible price on the house they're most excited

is

what motivates the Seller

Know

what's important to the Seller as leverage to get the

Use

price for the right home

best

our experience to create an offer that is favorable

Use

what motivates the Seller

Know

what is important to the Seller as leverage to

Use

the most attractive offer

present

our experience to create a competitive offer that is

Use

step

buying

FOUR

Let's make a winning offer

7process

by being the Seller's best option.

about.

BUYERS MARKET

to the Buyer & what they want out of the process

SELLERS MARKET

a win-win situation

10

WIN-WIN IN A SELLERS MARKET

BE MONETARILY COMPETITIVE | ESTABLISH A PERSONAL CONNECTION

ESTABLISH CERTAINTY


might be surprised how often this emotional appeal

You

win Sellers over

helps

agents want to do deals with agents they like and

Other

confidence in.

have

agents aren't even aware of all the ways they can get

Many

edge an

make sure your offer is received and acknowledged,

We'll

it isn't lost in the shuffle

so

Winning offer checklist

Write a letter to the Seller

Agent build rapport with Listing Agent

Agent identifies top things important to Seller

Price isn't the only thing that matters

Utilize the Escalation Clause and other special

stipulations to gain an advantage

Share offer verbally and confirm receipt of written

offer

11


are three basic contingencies: Inspections, Appraisal and

There

Their purpose is to protect you by making sure you are

Financing.

purpose of the general inspection is to identify major concerns with the property and educate

The

Buyer on the general condition of the property, not to find every single imperfection or issue

the

you've decided on an older home,

If

are a few things to keep in

there

when reviewing the

mind

report

inspection

example, homes built in 1960 were

For

to code for that time period and

built

not our current standards so you

are

see common issues such as

will

home is considered newer when it

A

been built sometime within

has

pops on roof

Nail

substances in the crawl space

Fungus-like

and Water Heater

HVAC

window seals

Broken

new construction builders state they have an inspection period that begins the day the

Most

is completed. Most builders also provide a 1 -year Home Warranty and will offer a final

home

after 1 year in the home. This period can include a standard 3rd party home

walk-thru

or a series of walk-thru's with the builders. You may still choose to do a General

inspection

FIVE

7step

buying

process

Remove Contingencies...what that means for you

INSPECTIONS

the home you expect at a price that is fair and you can

getting

afford.

TERMITE

GENERAL

RADON

OTHER INSPECTIONS

OLDER HOME

NEWER HOME

Survey, Structure, etc..

the past 20 years

Common items on an inspection report

outdated wiring & plumbing

NEW CONSTRUCTION HOME

Inspection on a new construction home during closing or before your 1 year expires.

12

Regardless of what market we're in, we'll advise you to focus on the

items pertaining to the safety & function of the home when we

negotiate repairs.


you have taken out a loan for your home purchase, your lender will

If

an appraisal to verify the home's value.

request

the appraisal comes back below the contract price, the

If

will have 3 options:

Buyer

& Seller can renegotiate the price of the home

Buyer

can come up with the difference out of pocket

Buyer

the Financial Contingency, the loan will go through

During

stages - processing & underwriting

2

information provided by the borrower is verified. This information

All

verification of the borrower's:

includes

Employment

Identity

Income

Assets

is also when the Appraisal and Title Work are ordered by the Lender.

This

the processing stage is complete, the loan is submitted to

Once

the underwriting stage, underwriters review all documentation in the

During

They make sure all program guidelines are met. It is not unusual for

file.

to request additional documentation from the borrower during

underwriters

stage. After the review is complete, the underwriters issue a loan

this

FIVE

7step

buying

process

APPRAISAL

FINANCING

Buyer can terminate the contact

PROCESSING

underwriting

UNDERWRITING

13

approval.


that the contingencies have been removed, just a few more

Now

leading up to closing day.

steps

the title search, the title company will verify that there are no judgments against the

During

or Seller, and no liens against the property which would prevent the transfer of title.

Buyer

weeks before closing,

2-3

your local service providers to

contact

arrangements for water, electricity,

make

phone, cable/satellite services to be

gas,

your local post office and fill out

Visit

change of address form. Also notify

an

who sends mail of your new

everyone

and make sure any bills have

address

your local DMV to ensure your license and vehicle registration

Visit

your new address

reflects

7step

buying

process

SIX

Preparing for the closing table

TITLE

UTILITIES

BEFORE

CLOSING

POSTAL SERVICE

transferred on the day of closing

the updated address

DRIVER'S LICENSE & VEHICLE REGISTRATION

MAKE PLANS TO MOVE

Reserve a moving truck and hire movers

14


closing, you will sign all of the paperwork required to complete

At

purchase, including your loan documents. Once all documents

the

been signed by both Buyer & Seller, the loan is funded and

have

is returned to the lender... you're all set!

paperwork

WE NEVER SEND WIRING INSTRUCTIONS. If you receive any wiring instructions from

Warning:

that looks like your agent, DO NOT comply or reply. It is a scam.

anyone

going to the closing table, you'll go through the home with your agent to check

Before

and verify any other agreed upon terms have been met

repairs

be given a set of keys to your

You'll

home on or after closing

new

security reasons, we

For

you to change the

encourage

closing, written instructions will

At

provided to you with details for

be

your first mortgage

making

payment

closing, property taxes were prorated between you and the seller based on occupancy

At

in the home. You may not receive tax statements for the current year on the home you

time

however it is your obligation to make sure the taxes are paid when due.

buy,

with your Lender to find out if taxes are included with your payment and if the tax bill

Check

you did not receive a copy at the closing table - expect to receive it in the mail in the

If

4-6 weeks

next

SEVEN

It's time to close and move-in!

step

buying

7process

WIRE FRAUD

CALL your title company or loan office directly.

CHECK WITH YOUR LENDER AND TITLE COMPANY ON THE TIME FRAME NEEDED TO

WIRE FUNDS TO BE AVAILABLE ON THE DAY OF CLOSING

FINAL WALK-THRU

KEYS TO HOME

AT

CLOSING

LOAN PAYMENTS

locks before moving in

PROPERTY TAXES

will be paid by the Lender from the escrowed funds.

TITLE INSURANCE POLICY

AFTER CLOSING

RECORDED DEED

the deed is recorded with the county, the original deed will be mailed directly to you

Once

4-6 weeks.

within

15


people see real estate as a transactional business. While there

Most

transactions involved, we see what we do as relational.

are

why we will be here for you long after closing. We value our

That's

so, whether it's checking in on how things are going in

relationships,

new home or inviting you to one of our client appreciation events,

the

can expect to hear from us again.

you

WELCOME

HOME

You are more than a transaction and deserve to be treated as such.

H e l t o n R e a l E s t a t e G r o u p . c o m

Info@HeltonRealEstateGroup.com | 615.422.4000

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