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Home Buyers Guide

Thursday, March 8, 2018   /   by Taylor Dixon

Home Buyers Guide

Home Buyers Guide 
HG MED (2).jpg  Introduction to the Sales Team 
 

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Tim Houk - Tiffany Lear St. Pierre - Kevin Barron


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Russ Vegas - Byron Carman - Harrison Rainwater



Introduction to the Admin Team

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Cherie Mack - Kristine Barron



The Home-Buying Process


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The Mortgage and Loan Process

Funding Your Home Purchase

1. Financial pre-qualification or pre-approval

Application and interview

Buyer provides pertinent documentation, including verification of employment

Credit report is requested

Appraisal scheduled for current home owned, if any

2. Underwriting

Loan package is submitted to underwriter for approval

3. Loan approval

Parties are notified of approval

Loan documents are completed and sent to title

4. Title company

Title exam, insurance and title survey conducted

Borrowers come in for final signatures

5. Funding

Lender reviews the loan package

Funds are transferred by wire

Why pre-qualify?

We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.

Making an Offer

Once you have found the property you want, we will write a purchase agreement. While much of the agreement is standard, there are a few areas that we can negotiate:

The Price

What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a low offer just to see if the seller accepts, this often isn't a smart choice, because the seller may be insulted and decide not to negotiate at all.

The Move-in Date

If you can be flexible on the possession date, the seller will be more apt to choose your offer over others.

Additional Property

Often, the seller plans on leaving major appliances in the home; however, which items stay or go is often a matter of negotiation.

Typically, you will not be present at the offer presentation - we will present it to the listing agent and/or seller. The seller will then do one of the following:

Accept the offer

Reject the offer

Counter the offer with changes

By far the most common is the counteroffer. In these cases, my experience and negotiating skills become powerful in representing your best interests.

When a counteroffer is presented, you and I will work together to review each specific area of it, making sure that we move forward with your goals in mind and ensuring that we negotiate the best possible price and terms on your behalf.

Closing 101

Prepare for It

Closing day marks the end of your home-buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following:

• A certified check for closing costs and down payment. Make the check payable to yourself; you will then endorse it to the title company at closing

• An insurance binder and paid receipt

• Photo IDs

• Social security numbers

• Addresses for the past 10 years

Own It

Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are:

Delivery of the buyers funds

This is the check or wire funds provided by your lender in the amount of the loan.

Delivery of the deed

A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses.

At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing.


Your Home Search

I love helping buyers find their dream home. That's why I work with each client individually, taking the time to understand their unique lifestyles, needs and wishes. This is about more than a certain number of bedrooms or a particular zip code. This is about your life. And it's important to me.

When you work with me, you get:

· A knowledgeable and professional REALTOR®
· A committed ally to negotiate on your behalf
· The backing of a trusted company, Keller Williams Realty

I have the systems in place to streamline the home-buying process for you. As part of my service, I will commit to helping you with your home search by:

· Previewing homes in advance on your behalf
· Personally touring homes and neighborhoods with you
· Keeping you informed of new homes on the market
· Helping you preview homes on the web
· Advising you of other homes that have sold and for how much

 Working with you until we find the home of your dreams 

Frequently Asked Questions

How will you tell me about the newest homes available?

The Multiple Listing Service Website provides up-to-date information for every home on the market. I constantly check the New on Market list so I can be on the lookout for my clients. I will get you this information right away, the way that is most convenient for you; by phone and/or email.

Will you inform me of homes from all real estate companies or only Keller Williams Realty?

I will keep you informed of all homes. I want to help you find your dream home, which means I need to stay on top of every home that's available on the market.

Can you help me find new construction homes?

Yes, I can work with most builders and get you the information you need to make a decision. On your first visit with the builder, I will accompany you. By using my services with a new construction home purchase, you will receive the services I offer, as well as those provided by the builder, at no additional cost.

How does for sale by owner (FSBO) work?

Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the commission. If you see a FSBO and want the advantages of my services, let me contact the owner for you and make an appointment. Most times the homeowner will work with an agent, even though their home is not listed, since the agent is introducing a potential buyer to their property.

Can we go back through our property again once an offer is made, but before possession?

Usually, we can notify the seller and schedule a convenient time to visit the property again. Immediately before the closing, we will schedule a final walk-through and inspection of your new home.

Once my offer is accepted, what should I do?

Celebrate and focus on moving into your new home! You will want to schedule your move, pack items and notify businesses of your address change. I will provide you with a moving checklist to help you remember all the details. I will also give you a good faith estimate and HUD statement, which will indicate the amount you will need to bring to closing.


What’s Ahead

Let's look for a new home.

To assist you in the home search journey, I have organized a list of homes showing us the following information for each:

Photos of the home

The home address

The current asking price

The square footage and property taxes

The number of bedrooms and baths

The age and lot size

Unique features and comments

Once we narrow down the list of properties that are of interest, I will:

Provide you with more detailed information about the home

Review the county tax records for tax liens, etc.

Schedule a personal visit to the home

Tour the home with you

Determine how the asking price compares with other homes in the area

Answer any and all questions you may have

 

Greater Baton Rouge Area

MULTIPLE LISTING SERVICE (MLS)

AREA MAP:

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The 10 Commandments of Purchasing a Home

ØThou shall not change jobs, become self-employed, or quit your job.
ØThou shall not buy a furniture or vehicle (or you may be living in it)!!
ØThou shall not use credit cards excessively or let current accounts fall behind.
ØThou shall not spend money you have set aside for closing.
ØThou shall not omit debts or liabilities from your loan application.
ØThou shall not have or use any “mattress money” during your loan transaction.
ØThou shall not originate any inquiries into your credit.
ØThou shall not make large deposits without checking with your loan officer.
ØThou shall not change bank accounts.

ØThou shall not co-sign a loan for anyone.

 

The Houk Group with Keller Williams Realty, Red Stick Partners
Tim Houk
8686 Bluebonnet Blvd
Baton Rouge, LA 70810
225-768-1800
Licensed Realtor in state of Louisiana

United States

Independently owned and operated & Licensed in the State of Louisiana.

The multiple listing information is provided by the Greater Baton Rouge Association of REALTORSĀ®, Inc. multiple listing service from a copyrighted compilation of listings. The compilation of listings and each individual listing are Ā©2018 MLS. All Rights Reserved. The information provided is for clients' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties clients may be interested in purchasing. All properties are subject to prior sale or withdrawal.
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