homebuyer presentation

HOMEBUYERINFORMATION

Janet Hamm, CRSARC Realty

4274 Cahaba Heights CtSuite 200

Birmingham, AL 35243

Your Partner for Success

Janet Hamm 205-601-5556 [email protected] www.janethamm.com

Janet S. HammARC [email protected]

EDUCATION, TRAINING AND QUALIFICATIONS

*Accredited Buyers Agent ABR*Certified Residential Specialist, CRS*Certified International Property Specialist*ePro Specialist*Senior Real Estate Specialist*Resort & Second Home Property Specialist

PERSONAL BACKGROUNDI have been in the real estate

business since 2003 as a full time REALTOR®, a Qualifying Broker, and a real estate and sales instructor. I am from Birmingham and I love my

"Magic City".

My Promise

My top priority is to listen to you, evaluate your needs and establish a relationship with you based

on trust, honesty and integrity. Once we have established mutual goals, my team and I will assist you utilizing sound planning techniques developed from years of training and professional experience, professional ethics, persuasive skills and a strong

company support system. During the entire process I will assist you in negotiations and keep you informed and protected. I strive to deliver

more value to you than you expect to receive and to provide uncompromising service based on truth,

fairness, knowledge, professionalism and enthusiasm.


My Personal Commitment to YouIntegrityWhether you are home buyer, a home seller or another sales associate, every decision reflects the strict code of ethics I adhere to and have committed to as a REALTOR®.

HonestyI am legally bound by my fiduciary responsibility with both my sellers and buyers to provide "honesty, integrity, and the utmost of care".

CommunicationI will exceed your expectations and make sure all of your questions are answered within a 24-hour period. I will strive to return your phone calls and emails within a 4-hour period and will provide you with communications and updates per your direction and discretion.

PartnershipTogether we will attack challenges with creative solutions that protect your interests and support your highest priorities.

KnowledgeThe real estate industry is constantly evolving. Being informed and up-to-date on contracts and disclosures are key factors in ensuring a closing on time. However, what is perhaps most important to you is my knowledge and guidance which protects you from potential default and future litigation.

ProfessionalismI pride myself as a professional REALTOR® with a responsive communicative, proactive work ethic and practice. Because of this high standard, buyers, sellers and industry professionals have all come to respect and look forward to working with me.


YOUR NEW HOME WORKSHEET

My new home should have these features:Style ___________________ (2 Story, Ranch, Townhome, Condo)Number of Bedrooms & Location ___________________Number of Bathrooms ____________________________Family Room ____________________________________Dining Room ____________________________________Kitchen Amenities ________________________________Bonus Room _____________________________________Fireplace ________________________________________Basement _______________________________________Rooms in Basement _______________________________Garage (no of cars)________________________________Lot Size _________________________________________View ___________________________________________Other ___________________________________________

Location:Convenient to work? ____ (Yes) ___ (No) Spouse ____ (Yes) ___ (No) Convenient to shopping? ____ (Yes) ___ (No) Distance ________

Convenient to schools:Day Care/Kindergarten ____________________Elementary ______________________________Middle School ____________________________Intermediate _____________________________High School ______________________________

Neighborhood: ______________________________

Other: ___________________________________________________________________________________________________________________________________


What is Important to You?

Please share your thoughts with me:

Your 3 major Buyer needs1.______________________________________________________2.______________________________________________________3.______________________________________________________

Your 3 major concerns about buying a home1.______________________________________________________2.______________________________________________________3.______________________________________________________

Your 3 major criteria in selecting an agent to work with1.______________________________________________________2.______________________________________________________3.______________________________________________________


Take the Stress Out of HomebuyingBuying a Home... should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It is critical that the REALTOR® you choose is both highly skilled and a good fit for your personality.

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second- guess interest rates or the housing market by ‐ waiting longer – you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big, decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process. Keep in mind that the most effective negotiation creates a “win/win” result. Playing “hardball” or trying to “win” the negotiation at the others expense may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.


Take the Stress Out of Homebuying(continued)

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post- ‐ home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially if it’s the first time, is a big financial commitment. It also yields big benefits. Don’t lost sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. While U.S. housing market has taken some big dips in recent years, all signs show things are rebounding. Despite the volatility of today’s market, remember that a home’s most important role is to serve as a comfortable, safe place to live.


Common Buyer Mistakes

1. They don’t ask enough questions of their lender and end up missing out on the best deal.

2. They don’t act quickly enough to make a decision and someone else buys the house.

3. They don’t find the right agent who is willing to help them through homebuying process.

4. They don’t do enough to make their offer look appealing to a seller.

5. They don’t think resale before they buy. The average first time buyer stays in a home for four years.


Home Buyer's Scorecard

Please rate each home you see according to its benefits and features for you

FeaturesHome #1 Home #2 Home #3 Home #4 Home #5

Property address

Price

Style

Living Room

Dining Room

Kitchen

# of Bedrooms

# of Bathrooms

Additional Rooms

Floor Plan

Other Features

Garage

Basement

Lot

Landscaping

Utility

Other

Other

Other

Does this meetmy needs?


Making An Offer

As your Buyer’s Agent we will:1. Prepare an offer that will meet your needs and provide a solid basis for

negotiating with the seller.2. Provide you with a Competitive Market Analysis that will show you the

current market conditions.3. Present your written offer to the sellers agent and negotiate on your behalf.4. The sellers will have the choice of:

• Accepting your offer as presented• Rejecting it completely• Countering it

5. Communicate to you the seller’s response and, if necessary, suggest further

negotiating options.6. An accepted offer leads to a legally binding purchase contract

Keep in mind many factors affect the price that sellers ask for their houses:

Physical characteristics of the house: Market conditions:• Location • Interest rates• Age • Availability of financing• Size of house and lot • Prices of recent sales• Physical condition • State of the economy• Floor plan and style • Seasonal demand

Competition: Asking price also may be affected by:• Number of properties available • Seller’s motivation to sell• Prices and terms • Seller’s original purchase price• Location and physical condition • Updates since purchase price• How long they’ve been on the market • Seller’s need for cash

• Opinions of others


• No market expertise


Common Closing Costs

For BuyersYou’ll likely be responsible for a variety of fees and expenses that you and the Seller will have to pay at the time of closing. Your lender must provide a good- faith estimate of all settlement costs. The title company or other ‐entity conducting the closing will tell you the required amount for:  Down payment  Loan Origination – typically 1% of the purchase price  Points, or loan discount fees, which you pay to receive a lower interest rate  Home inspection  Appraisal  Credit report  Private mortgage insurance premium  Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage  Property tax escrow, if being paid as part of the mortgage. Lenders keep

funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.

  Deed recording  Title insurance policy premiums  Land survey  Notary fees  Proration for your share of costs, such as utility bills and property taxes

Caution: Closing Costs can vary greatly according to your contract, the title company and your lender. The above list is only an example of general items that may appear.


Financing Information

What You Need to apply for a Mortgage

1.  W-2 forms (or business tax return forms if you are self-employed) for the last two or three years for every person signing the loan.

2.  Copies of at least one pay stub for each person signing the loan.

3.  Account numbers of all your credit cards and the amounts for any outstanding balances.

4.  Copies of two to four months of bank or credit union statements for both checking and savings accounts.

5.  Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.

6.  Addresses of where you’ve lived the last five to seven years, with names of landlords if appropriate.

7.  Copies of brokerage account statements for two to four months, as wellas a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.

8.  Copies of your most recent 401K or other retirement account statement.

9.  Documentation to verify additional income, such as child support or a pension.

10.  Copies of personal tax forms for the last two to three years.

Lender requests vary, so be prepared to bring just about anything and be prepared for the requests for documents to be ongoing.


Questions to Ask Your Lender:

Be sure you find a loan that fits your needs with these comprehensive questions

1.  What are the most popular mortgage loans you make? Why?

2.  Which type of mortgage plan do you think would best for us? Why?

3.  Are your rates, terms, fees, and closing costs negotiable?

4.  Will I have to buy private mortgage insurance? If so how much will it cost and how long will it be required? NOTE: Private mortgage insurance is usually required if you make less than a 20 percent down payment, but most lenders will let you discontinue the policy when you’ve acquired a certain amount of equity by paying down the loan.

5.  Who will service the loan? Your bank or another company?

6.  What escrow requirements do you have?

7.  How long is your loan lock- in period (the time that the ‐ quoted interest rate will be honored)? Will I be able to obtain a lower rate if they drop during this period?

8.  How long will the loan approval process take?

9.  How long will it take to close the loan?

10.  Are there any charges or penalties for prepaying the loan?


12 Questions to Ask an Inspector:1. What are you qualifications?

2. Are you a member of the American Society of Home Inspectors or National Association of Home Inspectors?

3. Do you have a current license? (Inspectors are not required to be licensed in every state.)

4. How many inspections of properties such as this do you do each year?

5. Do you have a list of past clients I can contact?

6. Do you carry professional errors and omissions insurance? May I have a copy of the policy?

7. Do you provide any guarantees of your work?

8. What specifically will the inspection cover?

9. What type of report will I receive after the inspection?

10. How long will the inspection take?

11. How long will it take to receive a report?

12. How much will the inspection cost? How much will a re-inspection cost?


5 Reasons for Buyer Representation

Why should I sign a Buyer's Agency Agreement? A Buyer Agency Agreement is a legal document that formalizes your working relationship with a particular buyer’s representative, detailing what services you are entitled to and what your buyer’s rep expects from you in return. While the language used in the document is formal, homebuyers should view it as an important and helpful tool for clarifying expectations, developing mutual loyalty, and most importantly, elevating the services you will receive.

1. Receive a higher level of service. If you’ve formalized an agency relationship with a buyer’s rep, you can expect to be treated like a client instead of a customer. What’s the difference? Clients are entitled to superior services, relative to customers. While the details vary from state to state, and from one buyer’s agent to another, you can generally assume that being a client means that you’ve formed a fiduciary, or agency relationship with your buyer’s rep.

2. Get more without paying more. In almost every case, home sellers have already agreed to pay a buyer’s agent’s commission. While buyers rarely pay real estate commissions, this is an important detail you’ll want to discuss with your buyer’s rep and clarify in their representation agreement. Most for sale by owners are willing to pay your agent’s commission.

3. Avoid misunderstandings. A Buyer’s Agent clarifies expectations, helping you understand what you should and shouldn’t expect from your buyer’s rep, and what they will expect from you, which usually centers on loyalty.

4. Agency relationships are based on mutual consent. While most representation agreements specify a time period, they can be terminated early if both parties consent. Most buyer’s reps are willing to end the agreement early if the working relationship isn’t going well. Some buyer’s reps also offer representation agreements for as little as one day, for the purpose of giving both parties a brief trial period to explore working together.

5. Strength as a team. When you and your buyer’s rep work together within a formalized agency relationship, you have created a team dedicated to helping you achieve the best possible homebuying experience.


Janet's Mission Statement

SERVICEGetting the job done when it

needs to be done with care and precision.

AND

COMMUNICATIONKeeping you informed

throughout your transaction.

" Some agents specialize in certain areas of the Greater Birmingham Area, I specialize in you"


homebuyer presentation

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