buyer's presentation
DESCRIPTION
This presentation lays out the home buying process in a comprehensible way.TRANSCRIPT
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Finding Your New Home
Prerana Saraiya DRE #00862060
Hiren Saraiya DRE #01095342
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Getting Started
There are many things that need to be done in order for you to purchase your home. We’re here to help you on this great journey of buying a home and to
give you advice for every situation. Throughout this presentation you will learn what our staff and we can do for
you, but we will also need your help. We have prepared this package for you to help explain the process of buying a
home. We hope that this material will help to familiarize you with the various activities, documents, and procedures
that you will be experiencing while purchasing your home.
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Understanding Your Expectations
What concerns do you have about working with an agent to find your new home?
What are your expectations of us? What would it take for you to refer us to your
family and friends?
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The Seven-Step Home Buying Process
1. Needs analysis
2. Financing application and pre-approval
3. Home preview and selection
4. Offer and Negotiation
5. Escrow Process
6. People Assisting in the Buying Process
7. Closing
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Step One:Home Buyer Needs Analysis
Have you looked at any homes yet? What did you like about them? What didn’t you like? What is the criteria for your new home? What would make your new home
a special find? If you could take one thing with
you from your present home, what would it be?
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Step Two:Financing
Have you worked out the details of how you will pay for your new home?
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Step Two:Financing
Loan Consultation We provide guidance in finding a financial institution A licensed loan consultant will:
You Submit documentation in a timely manner Provide lender with additional documents as required Stay in touch with the mortgage officer
We Communicate with the appraiser Stay in touch with the mortgage officer
Determine a realistic range of affordability Provide a letter of pre-approval
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Step Three:Home Preview and Selection
Research based on criteria Property alerts & client tracking Internet
– www.bhgrealestate.com
– www.realtor.com
Multiple Listing Service Yard Signs For Sale By Owner Properties Expired Listings
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Step Four:Offer and Negotiation
Structuring An Effective OfferDraft purchase agreementAdvise on protective contingencies Advise on customary practices and legal regulationsYou decide exact price and terms of offerClosing cost statement for your new homeEarnest money deposit is required
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Step Four:Offer and Negotiation
Present Your OfferPresent offer to seller and seller’s agentSeller can:
Respond To The SellerReview seller’s response If seller has countered your offer, you can:
RejectAccept Counter
RejectAcceptCounter
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Step Four:Offer and Negotiation
Your advocate during negotiation Assist you in strategizing and counter offers for the
best price and terms Deliver your message clearly and professionally to
the seller and their agent Keep the seller and their agent moving in a timely manner Keep the transaction at arm’s length while maintaining
a professional attitude and demeanor
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Step Five:Escrow Process
Preliminary title report Title insurance
Open your escrow
CLTA (California Land Title Association) issued to buyerALTA (American Land Title Association) issued to lender
Earnest money will be depositedEscrow company is a third party
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Step Five:Escrow Process
Inspection ProcessHome Inspection
Termite ReportPhysical Inspection
Geological Inspection
You can inspect:Cupboards, doors, windows, and flooringCounter tops, bath, and kitchen fixturesBuilt-in appliances, stairways, and banisters
Home warranty
Overall assessment of property
Evaluates soil conditions and determines stability of the ground
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Step Five:Escrow Process
Remove Contingencies All contingencies of purchase agreement must be met Contingencies include:
Approval of seller’s transfer disclosure statementApproval of preliminary titleLoan approvalAppraisal of propertyAll inspections of propertyCertification Acquisition of homeowner’s insurance
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Step Six:People Assisting In The Buying Process
Lenders Jonathan Farook, [email protected] Nick Guglielmelli, [email protected] Chris Miller, [email protected] Neil Sheth, [email protected]
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Step Six:People Assisting In The Buying Process
Home Owner’s InsuranceFarmers Insurance Group
Escrow ProcessFidelity
Chicago Title Insurance Company
Jill Erickson, [email protected]
Tracy Dejong, [email protected]
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Beth Becerra, [email protected]
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Step Seven:Closing
Sign loan documents and closing papers at escrow company Deposit down payment and closing costs to escrow Lender will deposit the balance of the purchase price Deed will be recorded at the County Recorder’s Office You will take ownership of your new home
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Pre-Offer
Before The Offer Pre-Offer
Meet with us to evaluate your needs BuyerGet pre-approved with a lender BuyerMarket education-email properties based on your needs AgentsPreview properties and provide feedback BuyerNarrow down the area based on feedback and reassessing your needs TeamSelect a property BuyerProvide market analysis AgentsPrepare a purchase offer TeamProvide earnest money deposit BuyerProvide pre approval letter LenderReview all existing report and disclosures TeamPresent the offer AgentsFollow up with offer AgentsRespond to seller AgentsContinue with a counter offer if necessary Agents
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After The Offer Is Accepted
After Offer is Accepted Week 1 Week 2 Week 3 Week 4
Open escrow AgentsGive Deposit Check to agents BuyerDeposit earnest money into escrow AgentsShop around for a lender with rates and terms BuyerSelect a lender BuyerOrder appraisal LenderOrder inspections AgentsProvide necessary paperwork to lender BuyerAttend inspections if possible TeamReview inspection reports AgentsPrepare a list of items for repair TeamReceive disclosures AgentsReview disclosers Team
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After The Offer Is Accepted Continued…
After Offer is Accepted Week 1 Week 2 Week 3 Week 4
Lift contingencies TeamInspection TeamLoan TeamAppraisal TeamDisclosure TeamOrder Preliminary Title Report AgentsReview Preliminary Title Report AgentsConfirm sellers ordered repair work to be done AgentsConfirm Seller has ordered Home Warranty AgentsFollow up with lender Agents Agents Agents Agents
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In Order To Close
In Order to Close Escrow Week 1 Week 2 Week 3 Week 4
Search for insurance agent Buyer
Order home warranty for buyers Agents
Decide how to take ownership Buyer
Coordinate with insurance agent Agents
Do the final walkthrough Team
Send Term Sheet to title Agents
Make sure loan docs arrive Lender
Once docs are in title send to buyer for review Title
Confirm rates and terms of loan Team
Go to the title company for signing Team
Bring cashiers check for downpayment (if any) and closing costs Buyer
Turn on utilities Buyer
Record grant deed Title
Collect keys Team
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Prerana and Hiren Saraiya
Over 95 percent of our business are referrals from our past clients. Lifelong professional relationship and personal friendship is our goal with every new client we meet. We can only achieve that when we treat our clients with respect by listening to their needs and fulfilling them. We devote ourselves for serving our clients before, during and after each transaction.
Most realtors spend 75 percent of their time prospecting for new business. We don't do that. We spend the majority of our time and energy taking care of our clients. We will be with you before, during and most importantly after your transaction. All we ask is that while you are working with us, if you come across anyone comparable to you who is thinking about selling or buying a home, and would like the same attention that we provide you, please let us know. As long as our clients refer us business, we don't have to go out prospecting for new business and we can take care of you even better!
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Building Relationships For Life
We will represent YOUR financial interests We will educate you on housing market We will evaluate each home with you We will help you select the best inspectors We will attend your inspections We will educate you on financial options and lender selection We will be your price advocate We will ensure all deadlines are met Call us at any time about your new home We are never too busy for your referrals
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Thank You
We Are Located:43430 Mission Blvd., Suite 100
Fremont, CA 94539Phone: 510.492.4155
To hear what our clients are saying, visit: http://www.linkedin.com/in/preranasaraiya
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