Home Buyer

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BUYERS AGENT SERVICES

BUYERS

  • Your Service is Typically Paid by Seller
  • Full Representation from 1st Meeting until Loan Closing
  • 100% Confidentiality
  • Reviews Contract
  • Negotiates for your Best Interest
  • Guides Through Complicated Process
  • Advises You in Critical Decision Making
  • Interprets Real Estate Terminology
  • Advises on Expert Advice When Needed


BUYERS: WHEN LOOKING AT PROPERTIES WITH AGENT:


  • Be prepared to see about five of your favorite properties that day.
  • Be prepared to bid right then.
  • Grab your earnest check. Let's go!


Buyer's Tasks

To have a successful transaction you will need to

  • Always be checking your texts,
  • Always be answering your phone because many people will be engaging with you such as inspectors, the lender, escrow, and more.
  • Have fast responsiveness, which will help you close in a more timely and efficient manner.
  • Untimely responses could actually make your sale fail because so many things have to happen in a time sensitive situation and you could potentially lose your earnest money.
  • I will guide you through the way but I cannot respond to the lenders, etcetera for you.
  • The preapproval letter is not a guarantee of the loan. As you are doing inspections the lender will be looking more into your credit.
  • The lender will run your credit one more time right before closing and you need the same score or better to be safe.
  • Don't have higher credit card balances, lates, don't run your credit, don't get a new loan, etcetera until you are handed the keys to the property.

FHA LOAN INFO

FHA loans are convienant and popular. Just be aware that the home you want needs to be FHA approved. Some properties are already FHA approved. Some properties definately will not qualify. It could take a long time and expense for a seller to become FHA approved so it could be a turn off. FHA guidelines are not impractical such as no termites, no bad roof, etcetera. A property before 1976 may not qualify because the higher the likelihood it but could contain lead based paint. You will need to find a strong decent home and not a fixer upper.

If you qualify for a FHA loan, look for a home.

CREDIT SCORE TIP

If you are thinking of buying or are starting to buy I would go in a credit repair program, if it is an issue, to boost your score. It takes two months for scores to start boosting typically. No need to find a scam repair thats thousands of dollars. I've seen quick turn arounds with a service of under $100/month.

INFORMATION ON BUYING A HOME:

  • First step is to get preapproved by a lender.
  • I need your lender information and a copy of your approval which mentions how much earnest money you have and how much you have for closing costs.
  • Next you need a law of agency handbook.
  • Next you need to sign a buyers agent agreement so I can show you inside properties
  • Dont access your credit, go into debt, buy a car until you have the keys to the house.
  • Look online on my app for houses you want to see. You should find the right house viewing one to ten homes in person.
  • Notify me on the app at a maximum of five homes that you want to see. (I will look at them to see if they have HOA dues or see if there anything that raises a red flag that you should be aware about.
  • We will view at least five homes in a day. Bring your earnest money check and be ready to bid on of the houses that same day.
  • I only show homes to buyers who want to bid on houses. I dont show homes to buyers who want to view 75 cool houses. That is done online. I only show houses to you when you are really serious and ready to bid.
  • Always make your best offer. If you are throwing out low ball offers you will be waisting everyones time. I overbid on my place I bought and agents I know offer even a $1000 more than the listing price to get the owners attention. If you really only have xyz dollars than I can accept that if you are being genuine. If the market is flooded with houses that sellers do not want, then that is a different story.
  • I recommend doing an inspection to protect yourself. You will have to pay for it.
  • The more demanding you are, the less likely the seller will pick you if he can get multiple offers.
  • I will be at your inspection and guide you through the steps. You need to do everything the lender asks too.
  • Do not change your lender or loan type or anything that has to do with the financing that we present to buyer initially or you can lose your earnest $$.
  • Keep all your appointments, check messages daily because someone may need to talk to you about an issue.
  • After negotiations we will hopefully do another walk through and give you the key! Good luck!


BUYERS: WHAT IS PREQUALIFED VS PREAPPROVED?

The difference between being preapproved and prequalifed is huge. The terrible thing is if you have the wrong one you will get practically turned away from a seller in a competitive market. These words are commonly used interchangeably so it is easy to be confused or think it is the same thing.

Being preapproved means:

  • You provided lender W2 stubs.
  • You had a credit check.
  • You showed lender your financially ready to buy.
  • You received a letter with a loan amount and loan type.
  • This helps you close faster.
  • This give you power in negotiating.
  • This does not guarantee the loan. The loan could still fall through in underwriting.

Being prequalified means:

Why being prequalifed does not give you much power:

  • No credit needed.
  • Lender approves you by what you say verbally.
  • No paperwork needed.
  • You still get paperwork with a loan approval amount.
  • You will not be taken seriously by sellers.


BUYERS RESOURCES:

BUYERS: IS CONCIERGE SERVICE BETTER FOR YOU?

Buyers, you can choose to search for property on my app and it will message me what you want. When I get a message from you I will look at the property online and let you know if I see any defects that you should know about before bidding because I work for you! If you are satisfied we will look at that and a few others and make an offer that day. If you want to use my concierge service too that is also an option. I can look for properties within the criteria that you have andtandt email you a small list to look at. I work for you, so let me know what is best for you.

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