Making a House Your Home
Dear Prospective Home Buyer:
Congratulations on your decision to become a new homeowner, and giving me the opportunity to serve as your real estate professional. My goal is to make your home buying experience as informative and painless as possible. As a buyer’s representative, I will negotiate all contracts on your behalf to get you the most house for the money.
It takes approximately 45 to 60 days to complete the home buying process. If you are paying cash the closing could be as quickly as a few weeks. However, if you are looking to build a new home, it will generally takes four (4) to eight (8) months to completion.
When visiting the Lender, please make sure you have available for him the following items:
Drivers License & Social Security Card
Residence address for the past 2 years
Name and Address of all employers (2yrs)
Most recent paystub/W-2’s/Tax Returns (2yrs)
Names, addresses, account numbers, balances and monthly payments on loans
Most recent bank statements, checking, savings (3mns if possible)
Address of Real Estate owned
Check for credit report
Certificate of eligibility or DD214 (VA loan)
Copy of Divorce decree (if applicable)
Copy of Bankruptcy papers (if applicable)
The following is an outline as to how I may assist you in your home buying process.
1. Assist you in making an appointment with a Lender to determine how much house you are qualified to purchase. (if applicable)
2. Advise you that a summary of your credit history, and other required documentation will be needed by the Lender to produce a pre-qualification for the loan. (Many seller’s will not consider an offer to purchase their property without a pre-qualification letter from your lender.)
3. Supply you with listings of homes from the multiple listings to find the home that meets your specification.
4. Provide you a comparative analysis on the property you are interested in purchasing.
5. Upon your selection of a home, I will assist you in making an offer (write a contract) on the property.
6. Assist you through your negotiation on all contracts and counter offers.
7. After your contract has been accepted, I will take all documentation and your earnest deposit to the Title Company. ( Earnest deposit is good faith money you give towards the closing cost of the home, it is generally 1% of the purchase price of the home)
8. Assist you in ordering an inspection of the new home to determine whether the home has problems that may adversely affect your ability to purchase the home.
9. Join you when you meet with the inspector to go over any problems found.
10. Fill out proper paper work to address any problems found by the inspector with the seller and the seller’s agent.
11. Fill out all paper work required by the state of Arizona and the Real Estate Commissioner.
12. Attend the close of escrow with you.
13. Hand you the key to your dream home.
As a Buyer's Agent, THERE IS NO COST TO YOU FOR MY SERVICES ... that is if you employ me as your Buyers Representative. I am paid for my services by the Seller's Agent for bringing them a Buyer. Additionally, there are three types of representation by a real estate professional; 1) Buyers Representative, 2) Seller’s Representative and 3) Dual Agency. Buyer’s Representative works for the Buyer, Seller’s Representative works for the Seller, and the Dual Agency represents both sides. When a home is placed in the Multiple Listing Service (MLS) and the Buyer purchases the home with the assistance of the Buyer’s Agent, the Seller’s Agent will pay the Buyer’s Agents Commission. As a Buyer Representative my commission is generally owed by the Buyer, however this is waived at the close of escrow when the Sellers Agent splits his or her commission with me, thus eliminating the charge to the Buyer. So please do not visit any homes without my assistance for specific reasons:
My Broker requires all Buyers sign a Buyer Broker Employment Agreement which states that if you hire me as your personal agent, and use my services to find you a home, write the contract and negotiate on your behalf, you will owe me nothing. However if you hire me, and purchase a home through another Agent, then you would owe me a commission.
The above outline is just the tip of the iceberg in the home buying process; it will be my pleasure to assist you in the purchase of this most valuable asset. If along the way you find you have questions, please give me a call or email me, I am available to you between the hours of 8:00 a.m. to 8:00 p.m., seven days a week.
Thank you for giving me the opportunity to help you find the home of your dreams. I look forward to working with you.
Cynthia Smitherman, Associate Broker, ABR, GRI, CDPE –