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THE ESSENTIAL BUYER’S GUIDE
A PATHWAY TO OWNERSHIP
SAM REIGHNER YOUR LOCAL REALTOR® Serving the (area) and the Surrounding Area for the last (x) years
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Getting Started. IDENTIFYING YOUR GOALS
At [Your Company Name], we understand that purchasing a home is not just a transaction; it’s a significant milestone that reflects your lifestyle, aspirations, and investment goals. This guide serves as your trusted resource, providing expert insights and personalized strategies to navigate the pathway of purchasing property.
We are here to empower you with the knowledge you need to make informed decisions.
Our commitment is to ensure that your buying experience is seamless, enjoyable, and tailored to your individual needs. Let us guide you through this exciting journey toward finding your dream home.
THE ESSENTIAL BUYER’S GUIDE
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Your Real Estate Partner EXPERT GUIDANCE TAILORED TO YOUR UNIQUE HOME BUYING EXPERIENCE
$310M 10+ TOTAL REVENUE
YEARS EXPERIENCE
75
115
POSITIVE REVIEWS
TRANSACTIONS
With over [X years] of experience, I have developed an intimate understanding of our community and its unique real estate landscape. My focus is on providing personalized guidance tailored to your specific needs, ensuring that every aspect of your buying or selling experience is seamless and rewarding. I pride myself on my ability to anticipate market trends and leverage my extensive network to achieve optimal results for my clients.
EMPOWERING YOU WITH LOCAL KNOWLEDGE & PROFOUND CLIENT CARE
I understand that buying or selling a home is one of the most significant decisions you will make, and I am dedicated to making this experience as smooth and rewarding as possible.
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Understanding Real Estate Representation
Exclusive Buyer’s Agency
An agent represents only the buyer's interests throughout the entire transaction.
Seller’s Agency
Also known as listing agency, where an agent exclusively represents the seller's interests in marketing and selling their property.
Dual Agency
A single agent or brokerage represents both the buyer and seller in the same transaction, with limited fiduciary duties to both parties.
Designated Agency
Two different agents from the same brokerage separately represent the buyer and seller in a transaction.
Transaction Brokerage
The agent acts as a neutral party to facilitate the transaction without representing either the buyer or seller exclusively.
Exclusive Right to Sell
The most common listing agreement where one agent has the exclusive right to market and sell a property for a specified period The seller retains the right to sell their property without owing the broker a commission, but must pay if the broker finds a buyer. Exclusive Agency
It's important to familiarize yourself with these various roles and to discuss compensation arrangements with your agent from the outset to ensure clarity. Feel free to reach out to me to discuss your specific needs.
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ESSENTIAL INFORMATION Commission Explained
Negotiating Commission
Payment Responsibility As a buyer, you generally won't pay your agent directly, but the cost is often factored into the home's price and this fee is typically paid out of the seller proceeds.
I'm happy to discuss this rate with you, as it can sometimes be negotiable depending on the specifics of your property and the current market conditions.
Services Included
Timing of Payment
Our commission covers a comprehensive range of services, including market analysis, property marketing (for sellers), negotiation support, and transaction coordination. Any additional fees would be discussed prior.
Commission is usually paid at the closing of the sale.
It's deducted from the seller's proceeds and
distributed to the brokers involved in the transaction.
I'm always available to answer any questions you might have about our commission or any other aspect of the real estate process. My goal is to ensure you feel comfortable and informed throughout our working relationship.
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The Buyer Broker Agreement
This agreement establishes an exclusive working relationship between us for [duration, e.g., 90 days]. During this time, I'll be dedicated to finding your ideal home. Our Partnership My Commitment to You I'll diligently search for properties matching your criteria, arrange viewings, provide market insights, and negotiate on your behalf. Your best interests are my top priority. Your Investment My services are typically compensated through a commission paid by the seller at closing. If a situation arises where you might be responsible for my fee, we'll discuss this upfront. Transparency I'll keep you informed throughout the process and maintain confidentiality regarding your personal and financial information. Property Preferences We'll clearly define your desired home characteristics, including location, price range, and must-have features.
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"As first-time homebuyers, we were initially overwhelmed by the process, but our agent made everything so much easier. We truly felt supported and informed throughout the entire journey, and we couldn't be happier with our new home!"
CHLOE, FIRST-TIME HOME BUYER
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THE PATH TO PURCHASE Buyer’s Roadmap
Pre-Approval
Start by obtaining a mortgage pre-approval to understand your budget and show sellers you are a serious buyer.
Home Search Begins
Identify properties that meet your criteria and schedule viewings.
Once you find a home you love, collaborate with your agent to submit a competitive offer. Make an Offer
Conduct Inspections
After your offer is accepted, arrange for a home inspection to identify any potential issues.
Closing
Finalize and secure funding. Review and sign all necessary documents, pay closing costs, and take ownership.
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Frequently Asked Questions EXPERT GUIDANCE How much money do I need for a down payment? The amount required for a down payment typically ranges from 3% to 5% of the purchase price, depending on the loan type. How long does the home buying process typically take? The home buying process typically takes around 30 to 45 days from offer acceptance to closing. However, this timeline can vary depending on various factors. Do I need to have a home inspection?
At minimum, you should make your offer contingent on a general home inspection.
Additional inspections to consider include pest inspections, foundation inspections, and mold inspections. What credit score would I need to purchase a home?
Generally, a credit score of 620 or higher is recommended. However, some lenders may approve buyers with scores as low as 580. A higher credit score usually results in better lending term. Your mortgage lender can provide more information on credit score qualifications.
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How long does my offer last?
The duration of your offer typically lasts between 24 to 72 hours, but this can vary based on the seller's preferences. It's important to specify an expiration time in your offer to ensure clarity and prompt responses. What happens after we submit our offer? After you submit an offer, the seller can accept, reject, or counter your proposal. If accepted, you will enter into a purchase agreement and begin the next steps, including inspections and securing financing.
What is an earnest money deposit? An earnest money deposit is a good faith
payment made to show the seller that you are serious about purchasing the home. Typically ranging from 1% to 3% of the purchase price, this deposit is held in escrow and applied toward your down payment or closing costs if the sale goes through.
What is an earnest money deposit? An earnest money deposit is a good faith
payment made to show the seller that you are serious about purchasing the home. Typically ranging from 1% to 3% of the purchase price, this deposit is held in escrow and applied toward your down payment or closing costs if the sale goes through.
THE ESSENTIAL BUYER’S GUIDE
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Resourceful Tools MAKING INFORMED DECISIONS
Mortgage Calculators: Bankrate Mortgage Calculator NerdWallet Home Affordability Calculator
School Information: GreatSchools
National Center for Education Statistics
Home Improvement Cost Estimators: HomeAdvisor True Cost Guide Remodeling Cost vs. Value Report
Government Resources: U.S. Department of Housing and Urban Development Consumer Financial Protection Bureau- Buying a House
Moving Resources:
Moving.com Packing Calculator USPS Mover's Guide
Neighborhood Guides: NeighborhoodScout AreaVibes
Crime Statistics: CrimeReports SpotCrime
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YOUR PERSONAL PREFERENCES Deciding Factors
Please list any specific preferences when it comes to location such as school zone preference, commuting distance or neighborhoods.
What are your design preferences when it comes to your new home?
Are there any specific interior features you prefer?
Are there any non-negotiables in a new home?
What is your preferred availability for showings?
Is there anything else I need to know?
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MUST-HAVES IN YOUR NEW HOME Key Requirements
Please check your preferences or provide additional information.
Kitchen
Main Living Area
Open concept
Updated countertops
Walk in Pantry
Fireplace
Updated cabinets
Storage space
Breakfast nook
Master on main floor
Updated appliances
Entertaining space
Bathrooms
Additional Features
Double Vanities
Hardwood floors
Bathtub
Office
Updated bathroom
Formal dining room
Walk in shower
Attached garage
Guest bathroom
Laundry room
Other:
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YOUR GUIDE TO A PROPERTY EVALUATION Home Inspection What is a Home Inspection? A home inspection is a comprehensive examination of a property's condition, typically conducted by a licensed professional. It's a crucial step in the home buying process, providing you with detailed information about the property's structural integrity, systems, and potential issues.
The Inspection Process
Home inspections typically cost between $300-$500, depending on the size and age of the home. This is a valuable investment in ensuring you're making an informed decision about your purchase. Areas Covered: Inspectors examine: Structural components (foundation, walls, roof) Electrical systems Plumbing HVAC systems Doors and windows Insulation and ventilation Major appliances Report: You'll receive a detailed report within 24- 48 hours after the inspection. 4. Scheduling: Once your offer is accepted, you'll typically have 7-10 days to complete the inspection. 1. Choosing an Inspector: Select a certified, experienced inspector. 2. The Inspection: This usually takes 2-4 hours, depending on the size and condition of the property. 3.
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Understanding the Closing Process A COMPREHENSIVE GUIDE
Secure Closing Funds Secure Closing FundsBudget for closing costs (2-5% of home's purchase price) Prepare cashier's check or wire transfer Confirm exact amount needed with your lender
Essential Documents to Gather State-issued photo ID Proof of homeowners insurance Purchase contract copy Conduct a Final Walk-Through Schedule 24-48 hours before closing Verify: - All agreed-upon repairs are completed
Mortgage pre-approval letter Bank statements Proof of funds for down payment
- Home is in expected condition - Seller has vacated the property - Appliances and fixtures remain as agreed
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Closing Disclosure Review
Receive document three days before closing Carefully review all financial details Compare with original loan estimate Clarify any discrepancies with lender
Helpful Tips
Ask questions if anything is unclear Take your time reviewing documents
Don't feel pressured to rush Confirm all financial figures
Closing is the final step to homeownership. Being prepared ensures a smooth, stress-free experience.
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We Are Here to Help
As you embark on your journey to homeownership, remember that each step is an opportunity to learn and grow. Whether you are just beginning your search or are ready to make an offer, stay proactive and engaged.
OUR PROMISE TO YOU
Personalized Guidance: We take the time to understand your unique needs and preferences, ensuring that our approach is tailored specifically to you. Expert Knowledge: With our extensive knowledge of the local market, we provide you with valuable insights and advice to help you make informed decisions. Open Communication: We prioritize transparency and keep you informed at every stage of the process, making sure your questions are answered promptly. Advocacy: We are your strongest advocates, negotiating on your behalf to secure the best possible terms and conditions for your new home. Lifelong Support: Our commitment doesn’t end at closing. We strive to build lasting relationships and are here for you long after you’ve moved in.
Your Name Here YOUR LOCAL REALTOR® Serving (location) and the Surrounding Area for the last (X) years
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