Homebuyer Guide PRESENTED BY T rish Byce
Meet T rish Byce ByceHomes.com
GA Realtor® License 367939 SC Realtor® License 128962 GA Residential Basic Builder & Qualifying Agent TCB-The Custom Builder LLC 404.202.8649 t rish.byce @compass.com
With a make-it-happen attitude and a personal approach, T rish has built her business by treating every client’s home sale or purchase as if it were her s, understand ing that hands-on involvement is important in every step of the real estate process. Her clients receive transparent, honest and timely communication from start to finish. H ere's what sets her apart from the crowd: 1. Personalized Attention: I believe that every client is unique, and I tailor my services to fit your specific requirements. Whether you're a first-time buyer or a seasoned investor, I take the time to understand your goals, preferences, and budget to ensure a seamless and stress-free transaction. 2. Extensive Market Knowledge: With years of experience in the real estate industry, I have developed an in-depth understanding of the local market. I stay up-to-date with the latest trends, pricing, and neighborhood dynamics, giving you a competitive edge when it comes to buying or selling your property. I have built homes for discerning clients. I know homes! 3. Cutting-Edge Technology: I leverage the power of technology to provide you with a streamlined and efficient experience. From virtual tours and online listings to digital signatures and real-time market updates, I utilize the latest tools to make your real estate journey as smooth as possible. 4. Strong Negotiation Skills: Negotiating the best deal for you is my top priority. I have honed my negotiation skills over the years, ensuring that you get the most favorable terms and conditions. Rest assured, I will fight for your best interests every step of the way. 5. Exceptional Customer Service: Your satisfaction is my ultimate goal. I pride myself on delivering exceptional customer service, always going above and beyond to exceed your expectations. I am available to answer your questions, address your concerns, and provide guidance throughout the entire process. Don't settle for less when it comes to one of the most significant transactions of your life. Choose a real estate agent who stands out from the crowd and puts you first .
Choosing a Buyer Agent
Your Agent’s Primary Role is to
Guide you through your home search and help fnd relevant inventory
Advise you on pricing, contracts, and the transaction process
Negotiate on your behalf, with your best interest in mind (Discuss agency and representation with your agent directly)
What To Consider When Finding an Agent
Communication style
Industry knowledge
Neighborhood expertise
Principles of Buyer Agency
Disclosure, Confdentiality, Diligence
Empowered National Network
The Compass Regional Network
350+ Offces across the country 26K+ Licensed Agents Nationwide
6 Offces throughout North Carolina
370+ Agents across North Carolina
The Compass Advantage
A Tech Company Reinventing the Real Estate Space
At Compass, we empower our agents with data-driven technology to deliver modern buyer and seller experiences.
Collaborative and connected, our agents enjoy direct access to the country’s top properties and the 26,000+ agents who represent them. But, just as we leverage our national network, we’re also keenly attuned to the nuances that make each market so special.
Now a top-fve brokerage in multiple cities nationwide, we’re delivering on our promise to help everyone fnd their place in the world.
Collections and Search
From providing a sophisticated search experience to ofering you a sneak peek at homes not yet on the market, every one of our tools are designed to help us deliver your dream home. Collections lets you compare multiple properties within a visual workspace. Monitor market activity in real time, stay in constant contact with your agent, and invite collaborators to join in on the discussion. With Compass Search, your agent can flter and sort properties by a wide range of features and amenities. Plus, you can receive real-time notifcations of new homes with customized Saved Searches.
Preparing for Purchase
The Homebuying Process
CHOOSE A REALTOR®
GET PRE-APPROVED
FIND YOUR DREAM HOME
Prepare for Purchase
MAKE AN OFFER AND NEGOTIATE
FINAL LOAN APPROVAL
INSPECTIONS AND APPRAISALS
Contract to Close
Pre-Approval
Determine What You Can Afford
Figure out how much cash you have for a down payment.
Find out your credit score and whether you need to take action to remediate.
Calculate how much you’d be comfortable spending. Consider your lifestyle and how this purchase may impact your monthly budget.
Meet with a lender to discuss your options. They will look at your credit, all accounts, income, and debt history to calculate what you can realistically aford.
QUICK TIPS
Rates change on a daily basis and pre-approval usually expires after a few months.
Be mindful when shopping for rates. A pre-approval involves pulling credit. Doing this too many times in a short timeframe may negatively impact your credit score.
Avoid purchasing activity that can impact your debt-to-income ratio, such as buying a car, charging expensive items to your credit card, or taking out a personal loan.
Questions to Ask Your Lender
How quickly can I be fully approved for the loan?
Am I eligible for any frst-time homebuyer tax credits?
What is the maximum amount the lender will allow for seller credits?
Does my loan program require additional inspections?
Cost of Homeownership
Costs to Consider
Buying a home involves more than just a down payment and fguring out the monthly mortgage. A range of out-of-pocket expenses can arise during and after the transaction, so be sure to discuss these with your lender and your agent to be prepared.
Lender Fees
Loan Application; Credit Report ( $15–30* ); Appraisal ( $300–500* )
Due Diligence Fee & Earnest Money Deposit
DD and EMD are negotiable fees between the buyer and seller
Inspections
Home inspection ( $400–1,000+* ); Radon inspection ( $100–250* ); Termite inspection ( $75-125+* )
Closing Costs
Rough estimate is about 3% of the sales price. This includes recordation taxes, title insurance, all lender fees and settlement charges. Settlement costs can also be incorporated into the loan, or be reduced with increases to the interest rate on the loan.
Moving Fees
Repair and Maintenance Costs
*Numbers are a general estimation and not guaranteed.
Loan Types
QUICK TIP
Ask your lender about buying points to lower monthly payments
Loan Types
Down Payment*
Loan Types
Eligibility and Restrictions
Good credit, proven steady income (2 years+ for independent contractors).
Conventional (Fixed)
Typically 15–30 year fxed rate
20%
Typically 5–10 year fxed rate, followed by an adjustable rate for the rest of the term
Conventional (ARM)
20%
Slightly more lenient on credit.
Option for individuals with lower credit scores. Homeowner occupant only (no investors). Stringent home inspections. Condos must be FHA approved. May take longer to close.
Typically 30 year fxed rate
FHA
3.5%
Veterans, army members and spouses only. Homeowner occupant only (no investors). Home condition requirements. May take longer to close.
Typically 30 year fxed rate
Not Required
VA
*These are general guidelines, and can vary in some cases. Ask your lender for more information about down payment requirements for your loan program.
Finding Your Dream Home
Your Home Search
Why Am I Buying a House?
Understanding your motivation for the move will help keep you focused on your priorities.
Understand home types and their pros and cons (Condos vs. Fee Simple)
Make a list of your must haves and deal breakers
Think about the type of neighborhood you see yourself in
Anticipate how long you want to live in this home
Communicate with your agent about your needs
Be fexible and open to alternatives
Guiding You Home
Compass Tools To Make Your Home Search Seamless
Our dynamic search tool allows you to type in what you’re looking for—no scanning through endless rows of checkboxes. Want to narrow down your search to certain areas of a neighborhood? No problem—you can draw custom map boundaries to only see results where you want them. Using Compass Saved Search, never worry about missing your dream home. Easily set preferred listing criteria and receive alerts when new listings are posted.
Curate Your Search with Collections
A visual portfolio of homes, this platform allows you, your agent and anyone else involved in the search process, to share and track listings. Comment in real time and receive automatic pricing and status updates—all in one centralized place.
Leverage Our Dynamic Network
Our strong Compass network allows our agents to be in the know about upcoming listings that may meet your criteria - before they hit the market. This ofers you a competitive advantage prior to public availability.
Let’s Make An Offer
Comparative Price Analysis
Your Realtor® will pull a list of all the homes that recently sold in the area to give you a better idea of recent market performance.
Competition
Is this a “Hot Home,” is it under-priced, are there other ofers? The amount of competition will determine how aggressively you want to structure your initial ofer.
Understanding the Contract
Make sure you speak with your agent about all terms of the contract and to understand deadlines, liabilities and clauses that allow you to terminate the agreement, etc.
Due Diligence Fee (DD)
Decide how much you’re willing to put down to secure the ofer and take the home of- market so inspections can proceed. This is one of two deposits you will typically put down throughout the course of the sale, and it is a non-refundable fee. Due Diligence amounts are agreed upon between the buyer and the seller, and difers from Earnest Money Deposits (EMD).
If the transaction reaches completion, both the DD and EMD fees will be applied as a credit towards the purchase price at closing.
Terms of the Offer
Three Factors Affect the Strength of Your Offer
Price Buyer Due Diligence Process Length of terms
Price
Price is obviously an important factor, as it will determine how much the seller nets. Work with your agent to fgure out the value of the home and how much you’re comfortable spending.
Buyer Due Diligence Fee & Time Frame
These are terms that need to be met in order for the contract to go to closing. The longer the time frame, the higher the risk for the seller. The buyer is allowed a Due Diligence process which can strengthen the ofer.
Length of Terms
Considering the length of each term is very important when submitting an ofer. Every day that a house is under contract, the home is essentially “of” the market. The seller is “taking a risk,” by waiting for each term to be met.
Offer Considerations
Financing
Cash vs. Loan
Seller Credits
Amount a seller is willing to credit back to a buyer to help with closing costs. Check with your lender for maximum % of sales price; asking for credit will often weaken the ofer as it lowers the seller’s net sales price.
Home Inspection
In highly competitive situations, buyers will conduct a pre-inspection prior to submitting an ofer, and waive this. However, if you do request a home inspection, aim to schedule it within 7 days of ratifcation.
Appraisal
Real Estate Appraisal, property valuation or land valuation is the process of developing an opinion of value for real property. An appraiser is hired by the lender/bank to complete the appraisal valuation which will be used to establish the ratio of loan to value for the property.
Lender Commitment
If your ofer is contingent on fnancing, the sooner you receive a commitment letter from the lender, the more confdence you can instill in the seller that the deal will reach closing.
Closing Date*
Under 30 days is ideal, but some loan programs take longer to close. The closing date is important, as this is when the seller receives the funds for the transfer of the deed.
*Please note that the closing date is not necessarily the same as possession date. In some cases, sellers may want to rent back the property for a period of time. Most lenders will allow for a 60 day Maximum Rent Back Period.
Above Asking
Pricing
No fnancing contingency Waived inspection Waived appraisal
Due Diligence
HIGH
21 Days
Timeline
Full Asking
Pricing
Conventional fnancing Home inspection Appraisal
Due Diligence
30 Days
Timeline
Below Asking
Pricing
Seller credits Multiple home inspections Appraisal
Due Diligence
LOW
60 Days
Timeline
Structuring An Offer
Remember
An ofer can have a lower price than another, but still be stronger!
For example, if a seller values moving out quickly, a lower all cash ofer that closes in 3 weeks might be more attractive than a higher priced ofer with an 8 week closing timeline.
Your agent will know the best strategy to make a compelling ofer based on market conditions, while considering your needs and comfort level.
Contract to Close
Negotiations
Once you have submitted the ofer, the seller may reject, accept or counter your ofer.
Be prepared to go back and forth until you reach a suitable agreement for both parties. When all terms are agreed upon, the ofer is signed by both parties and ofcially ratifed.
Negotiations are not necessarily over at ratifcation of the contract. They can also go on during the inspection and appraisal periods.
Home Inspections
Best Practices
Inspections are an important part of the process. There are many types of inspections depending on the location and home you are looking to purchase that can help identify potential issues with the property ahead of closing.
Be Present
Take the time to attend inspections so you can have a better sense of how the home works, see which areas may require maintenance, and assess whether you will need to consider home improvements down the line. Don’t be afraid to ask questions!
Be Realistic
Expect to have a list of items from your inspector in a couple days. Don’t panic! Almost every home has a list of potential repairs, and most will be minor.
Be Practical
Inspections are another opportunity to negotiate. Speak with your agent about what items they recommend asking for repair. Focus on the items that matter the most. Keep in mind that the seller is not obligated to make requested repairs, even when required by a lender (FHA, HPAP, VA etc.), so in many cases homes are sold as-is in North Carolina.
Appraisal
Assessing Value
This is the assessment of value on the home by a third party appraiser. It lets the lender know how much they will be able to lend for the home.
Appraisal Value and Home Price
↙
↓
↘
Lower than Sales Price (no appraisal contingency in contract)
Lower than Sales Price (contingency in contract)
Higher than Sales Price
↓
↓
↓
Negotiate to Bring Price Down to Appraised Value
Congrats, You Have Instant Equity!
↓
↓ ↘
Walk Away, But You May Lose Your DD...
Bring More Money to the Settlement Table to Make Up the Difference
Settlement
After you’ve completed your fnal walk through, it’s time to sign some papers!
During settlement, the Residential Closing Attorney will go through your fnal settlement statement, line by line.
The attorney will be in charge of disbursing the funds to the seller and the bank (if they still owe a balance on their mortgage).
Don’t forget your government-issued ID, cashier’s check or certifed funds (if amount you owe isn’t wired to the Closing Attorney prior to the settlement), and personal checkbook for any small last-minute expenses.
Make sure you receive all copies of the keys and door openers.
Once you’ve signed all the documents and the deed is recorded, you can offcially call yourself a homeowner!
"5 Stars! Couldn't ask for a better agent. Trish really understands the market. She understand current trends and how they impact both timing and pricing. She gave great advice on improvements that make an immediate difference to buyers. Her promotion and marking of the house allowed a timely sale. She was extremely professional in every aspect of the process and particularly responsive to any questions or concern. One couldn't ask for a better agent." "Becoming executor of an estate after losing a loved one is always a challenge, particularly disposing of property. My task was greatly facilitated by finding a fabulous agent. Trish Byce understood the nuances required to navigate all the issues in a professionally and efficient manner. Her diligence and tenacity enabled the successful sale of two homes meeting both our time frames and price considerations " - Ken Futch "Trish Byce did a wonderful job listing, marketing, and selling our home. As a homeowner, it’s not often that you sell a house so it is important to have an real estate expert like Trish to help guide you through the process. Trish used her years of building and real estate to provide advice to us about how to price and stage our home. That was very important especially with the changing real estate market. The home sold for a very fair price and Trish even helped us negotiate with the buyers about items identified by the home inspection (some of which were ridiculous and were not necessary). We ended up with a reasonable list of repairs and Trish recommended a local contractor that we used to complete those repairs. Selling a home is a stressful process but Trish was great at helping us through the process. We are VERY SATISFIED with and thankful for all of the services Trish Byce provided to us!" - Alan & Cat England - Sellers - Brookhaven "Outstanding, Knowledgeable and Dedicated Realtor " Trish is an outstanding realtor and a pleasure to work with! She is thorough, professional, a great communicator, and quick to respond to questions. Her extensive knowledge and background as a home builder and land developer were valuable in marketing our very unique and difficult property. The duplex being sold was operating as a short-term rental during the time it was on the market. Trish marketed it four ways: as a new development, a private residence, a long-term rental, and a turn-key short-term rental in a highly sought-after area of Atlanta. Trish advised us through some major repairs and went above and beyond to help us in selling our house. She showed the house over and over and never gave up showing it with enthusiasm each time. I could not have found a more dedicated realtor to work with, and I highly recommend her. " - Diane Rutherford - Seller - Midtown / Morningside "Trish helped us find our dream home. She is always professional, considerate, and responsive - a rare combination these days. She always puts the client's interest first and is never hesitant to share her honest thoughts and doubts about things even if it could've broken the deal in question. She is also one of the most hard-working agents in the biz- she will not stop until she thinks her research is done and the very best options are laid out on the table. If you are looking for someone who holds onto their highest professional standards and integrity, you are in luck because your search is now done. " - Cong & Fang Lu - Sellers - Brookhaven "Any good Realtor can find you a home and show you lots of options that meet your criteria. What makes Trish Byce different is her deep understanding of how a good home is constructed. Her late husband was a phenomenal builder of fine homes - and Trish was part of the business. She knows when a home is well built, what kind of r enovation is possible on an older home and what kinds of questions you might need to ask about the quality of a home. If you are interested in buying a well-built, well-designed home - (some of which is hidden to the buyer) Trish is the realtor for you! " - Nancy Downey - custom build client "I met Trish when my girlfriend and I randomly started up a conversation at a Brookhaven neighborhood restaurant with a total stranger! Call it very fortuitous, as at the same time I was looking for a realtor that had intimate knowledge of the Brookhaven, Chamblee, and Buckhead area. I am a first-time home buyer, so Trish was very patient in educating me on what I needed to know as crucial steps in the buying process. Her building experience also helped me in understanding the potential of a property/neighborhood rather than just buying a dream first home. Trish has intimate knowledge of the areas I was looking in (as she is a Brookhaven resident herself!) that helped us to sift out areas quickly and narrow down our search to a few neighborhoods that fit my expectations and budget. I know I would not have found the house I bought if it was not for Trish and a little work on both sides. I am very grateful for her help and continue to have fun meeting with her and her kids at the restaurant we originally met at! I highly recommend working with Trish. " - Dan Vollmer - Purchaser - Cambridge Park Atlanta "Trish did not just help us find a house. She facilitated the process well after we closed by transitioning us to quality service providers. Having recently relocated to this area, she held our hand whenever it became necessary to do so. Doing business with Trish was not just a transaction, but a memorable experience. " - Eunice Tull - Purchaser - Chamblee
T rish Byce, Realtor® GA, Realtor® SC, Licensed Residential Builder
404.202.8649 t rish.byce @compass.com Atlanta 3701 Peachtree Road, Suite A 1 Atlanta, GA 30305 404.668.6621
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No fnancial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not refect actual property conditions.
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