Frances Ibanez - Homebuyer's Guide

Homebuyer ’ s Guide

AN ELITE PLAN TO OWN

FRANCES IBAÑEZ

As a Buyer, You Don’t Pay Any Realtor® Commission Fees!

The seller has already paid for your Realtor®, so you don’t have to! Realtors are here to help, so use one! Moving is stressful enough on families, let the professional do the work for you!

First step is to find a good agent who will work hard for you and your family. Don’t let someone pressure you into using them. Your house is one of your biggest investments. You need to have a Realtor® that you trust, one that fits your personality.

OUR OFFICES

BARTLESVILLE 2321 SE Nowata Place Suite A, Bartlesville, OK | (918) 333-2222

BIXBY 7510 E. 111th St. S. Bixby, OK | (918) 943-3009 • Fax: (918) 943-3155

BROKEN ARROW 2625 S. Elm Pl. Broken Arrow, OK | (918) 259-0000

COWETA 128 N. Broadway St. Coweta, OK | (918) 279-6227

EDMOND 2619 Kelley Pointe Pkwy, Edmond, OK | (405) 330-0031

GRAND LAKE 29980 S. 566 Rd. Afton, OK | (918) 257-7164

LEASING/PROPERTY MGMT . 8988 S. Sheridan Suite J, Tulsa, OK 74133 | (918) 392-0901

MIDTOWN TULSA 1441 E. 41st St. Tulsa, OK | (918) 392-9900

MUSKOGEE 1806 Chandler Rd. Muskogee, OK | (918) 537-2263

NICHOLS HILLS 2814 W. Country Club Dr. Oklahoma City, OK | (405) 843-8188

OWASSO 13506 E. 116th St. N. Owasso, OK | (918) 392-9990

SAND SPRINGS 3702 South Hwy 97, Sand Springs, OK | (918) 419-2333

SKIATOOK 500 W. Rogers Blvd. Skiatook, OK | (918) 578-6820

SOUTH TULSA 3912 E. 91st St. Tulsa, OK | (918) 392-0900

WAGONER 122 N. Main St. Wagoner, OK | (918) 279-6227

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with

reasonable care, it is about the safest investment in the world”

- Franklin D. Roosevelt

FRANCES IBANEZ

REALTOR-ASSOCIATE®

CHINOWTH & COHEN REALTORS

Frances Ibanez doesn’t sell people houses; she helps them find new homes. She knows that a home is more than a building on a street; a home is a place in a community where people build their lives. Knowledge, compassion, professionalism, and attention to detail set Frances apart. Her extensive knowledge of the latest real estate trends and practices makes her an excellent resource for those buying or selling a home. She is committed to leading her clients through the sometimes-confusing maze of real estate processes. In fact, Chinowth & Cohen Realtors recognized Frances as one of their top 100 Elite Agents and Tulsa Real Producer’s Magazine recognized her as one of Tulsa’s Top 500 Agents for 2022.

Frances grew up in Puerto Rico then moved to Oklahoma in 1999 with her husband and three young children. She is fluent in both English and Spanish. While raising her children in northeast Oklahoma, Frances grew to appreciate the amazing spirit unique to the area she continues to call home. She has a Bachelor of Science Degree in Leadership and Human Resources from Oklahoma Wesleyan University. She remains connected to the community through volunteer work with her church and other nonprofit organizations. In her free time, she enjoys traveling near and far, attending baseball games, shopping, and spending time with family and friends.

Whether they be buyer or seller, Frances’ clients have found her to be a trustworthy advocate who remains with them every step along the way. Call her today to discuss your real estate needs.

TESTIMONIALS

FRANCES WAS ABSOLUTELY WONDERFUL TO WORK WITH. SHE WAS SO SWEET AND PATIENT WITH US AS WE LOOKED AT SEVERAL DIFFERENT HOUSES IN A VARIETY OF NEIGHBORHOODS. SHE WANTED TO MAKE SURE WE WERE ABLE TO FIND THE PERFECT FIT FOR MY MOM. SHE WAS GREAT AT OFFERING ADVICE AND WAS ABLE TO SET UP SEVERAL HOUSES FOR US TO VIEW. FRANCES HELPED US FIND THE PERFECT HOUSE FOR MY MOTHER AND THEN WAS ABLE TO SELL MY MOM’S HOUSE WITHIN 32 HOURS OF LISTING IT!! FROM SHOWINGS TO CLOSINGS, FRANCES DID IT ALL SO EFFORTLESSLY. SHE HAD ALL THE ANGLES COVERED AND WAS ALWAYS THERE TO GIVE US ANSWERS AND ADVICE. I HIGHLY RECOMMEND FRANCES IBANEZ, SHE IS FANTASTIC AND SHE REALLY CARES ABOUT HER CLIENTS!

- ANNETTE B

FRANCES WENT ABOVE AND BEYOND FOR MY HUSBAND AND I. I AM IN MEDICAL SCHOOL AND ALREADY HAVE A DIFFICULT SCHEDULE TO WORK AROUND, ON TOP OF THAT THIS PURCHASE WAS OUR FIRST HOME AND SHE ALWAYS MADE SURE TO SPEND EXTRA TIME EXPLAINING THE PROCESS AND MAKING CERTAIN WE WERE NOT BEING TAKEN ADVANTAGE OF AT ANY STEP. SHE MADE HERSELF AVAILABLE TO US ANYTIME WE NEEDED HER, INCLUDING WEEKENDS AND AFTER WORK HOURS, AND ALWAYS WAS SO KIND AND EFFICIENT. WE GAVE HER A NEAR IMPOSSIBLE TASK OF HELPING US FIND A HOME IN OUR PRICE RANGE THE UPDATES WE WANTED ONE THAT ACCEPTED OUR SPECIFIC LOAN TYPE AND WE ASKED HER TO HELP US DO THIS IN A CRAZY MARKET, ALL IN LESS THAN A MONTH SO WE COULD MOVE BY THE TIME OUR LEASE WAS ENDING! SHE MADE IT HAPPEN FOR US AND CAME THRU WITH EVERY PROMISE! SHE HAS A GREAT NETWORK OF PEOPLE THAT SHE DOES BUSINESS WITH THAT MAKES THE LENDING AND INSPECTION PROCESS A BREEZE AS WELL. I WILL ALWAYS USE FRANCES FOR ANY REALTY NEEDS AND WOULD TRUST HER WITH FAMILY AND FRIENDS AS WELL. YOU WILL NOT FIND A HARDER WORKING AGENT, NOR ONE THAT IS SO KIND AND GENUINE WITH YOUR BEST INTEREST AT HEART! I JUST WISH I COULD GIVE MORE THAN 5 STARS!

- BAILEY W

MY AGENT WAS FRANCES IBANEZ AND SHE WAS INCREDIBLY HELPFUL. SHE MADE THE HOME BUYING PROCESS SMOOTH, EASY, AND WAS PROFESSIONAL ALL THROUGHOUT THE PROCESS. I FELT THAT SHE WAS AN INCREDIBLE ADVOCATE (ESPECIALLY FOR A NEW HOME BUYER) AND ASKED THE TOUGH AND IMPORTANT QUESTIONS WE DIDN’T KNOW TO ASK. HIGHLY RECOMMEND!

- GARRETT & KIERA

FRANCES IBANEZ.... WENT ABOVE AND BEYOND IN EVERY ASPECT OF NOT ONLY THE SHOWING AND THE FINAL SALE, BUT EVERY BUMP IN THE ROAD. FRANCES WAS THERE TO SUPPORT US, AND I KNOW SOME OF THE STUFF SHE DID WAS NOT IN HER JOB DESCRIPTION. HER INSIGHT AND FRESH IDEAS WERE VERY ORIGINAL AND HER AVAILABILITY WAS THAT WHAT YOU MIGHT HAVE ON A GOOD FRIEND SO COULDN’T ASK FOR MORE THE DEAL MAY NOT HAVE GONE THROUGH HAD SHE NOT BEEN THERE BOTH SELLING AND BUYING WONDERFUL PERSON.

- KEVIN & LILIANA

FRANCES GUIDED US FROM THE INITIAL INTERVIEW THROUGH CLOSING. SHE CARED FOR US AND BECAME A TRUSTED ADVISOR. - TROY K.

7 REASONS TO WORK WITH A REALTOR®

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:

1. ETHICAL TREATMENT

Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transactionrelated matters. The first obligation is to you, the client.

2. AN EXPERT GUIDE

Buying a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

3. OBJECTIVE INFORMATION AND OPINIONS

REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REAL TO Rs® can use that data to help you determine if the property has what you need. By understanding both your needs and search area, they can also point out neighborhoods you don’t know much about but that might suit your needs better than you’d thought.

4. EXPANDED SEARCH POWER

Sometimes properties are available but not actively advertised. A REALTOR® can help you find opportunities not listed on home search sites and can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market.

5. NEGOTIATION KNOWLEDGE

There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows enough time for you to complete inspections and investigations of the property before you are bound to complete the purchase.

6. UP-TO-DATE EXPERIENCE

Most people buy only a few homes in their lifetime, usually with quite a few years in between each purchase. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.

7. YOUR ROCK DURING EMOTIONAL MOMENTS

A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues more important to you.

REAL ESTATE TERMS

APPRAISAL- An appraisal in real estate is an estimate of a property’s value made by a licensed appraiser. It is based on a thorough examination of the property, including its condition, location, size, and features. Appraisals are commonly required by lenders when a buyer is seeking a mortgage and can also be useful for pricing or negotiating the sale of a property.

CLOSING- A closing in real estate is the final step in a property purchase transaction where ownership of the property is transferred from the seller to the buyer. During the closing, necessary documents are signed, and closing costs are paid. Once all documents are signed, and funds have been transferred, the sale is considered complete.

CLOSING COST- Closing costs are the expenses and fees paid by the buyer when finalizing the purchase of a home. They typically range from 2% to 5% of the home’s purchase price and include lender fees, title and escrow fees, appraisal and inspection fees, prepaid expenses, and attorney fees. It’s important for buyers to budget for these costs to avoid surprises at closing.

CONTINGENCY- A contingency in a real estate transaction is a condition written into the purchase contract that must be met before the sale can be finalized. Common contingencies include inspections, financing, appraisals, and sale of a buyer’s existing property. They protect the buyer’s interests but can also complicate the transaction.

DISCLOSURES- Disclosures in real estate refer to the legal requirement for sellers to provide information about a property’s condition to potential buyers. Required disclosures can vary by state and locality, but may include lead-based paint, property condition, natural hazards, homeowners association, and environmental hazards. Disclosures are important to help ensure buyers have all the information they need to make an informed decision and failure to disclose known issues could result in legal action.

EARNEST MONEY- Earnest money in real estate is a deposit made by the buyer to show their commitment to purchasing a property. It is typically around 1% of the purchase price and held in an escrow account until the sale is completed. It can be applied to the down payment or closing costs or returned to the buyer if the sale falls through due to a contingency in the purchase contract.

HOME INSPECTION- A home inspection is a professional examination of a property’s physical condition to identify any issues or defects that may affect its value, safety, or livability. Inspectors examine the property’s structural components and mechanical systems, including plumbing, electrical, and HVAC. The inspection report can help buyers make informed decisions about the purchase and negotiate any necessary repairs with the seller.

OFFER- An offer when buying a house is a proposal by a potential buyer to the seller, outlining the price and conditions for purchasing the property. The offer is typically made in writing, may include earnest money, and the seller can choose to accept, reject or counteroffer. It’s important for buyers to work closely with their agent and carefully consider their offer.

PRE-APPROVAL- Pre-approval in real estate is when a lender gives a preliminary commitment to provide financing for a property purchase up to a certain amount. It helps homebuyers know their budget and can speed up the closing process.

TITLE SEARCH- A title search in real estate is the process of examining public records to verify that a property being sold has a clear and marketable title. This helps to identify any outstanding liens or claims against the property that could affect the sale. If issues are found, they must be resolved before the sale can be completed. Title insurance is often purchased by the buyer to protect against undiscovered issues after the sale.

TRR- TRR stands for “Treatments, Repairs, and Replacements” in real estate. It refers to the process of negotiating repairs and replacements needed in a home after a home inspection has been completed. The buyer may request that certain repairs or replacements be made before closing on the property based on the inspection report.

5 FACTORS THAT DECIDE YOUR CREDIT SCORE

1. PAYMENT HISTORY Do you pay your debts on time?

2. AMOUNT OF DEBT Less is best.

3. CREDIT HISTORY The longer the better.

4. AMOUNT OF NEW CREDIT New credit is considered more risky!

5. TYPES OF CREDIT i.e. installment loans, credit cards, and a mortgage.

Credit scores range between 200 and 800. Scores above 640 are considered desirable for obtaining a mortgage. For more on evaluating and understanding your credit score, go to www.myfico.com.

CREDIT DO’S

• Pay your mortgage or rent payments on time

• Stay current on all outstanding accounts

• Continue working for the same employer

• Stay with your current insurance company

• Notify your Lender immediately if any situation arises that could possibly affect your income, assets, or credit

CREDIT DON’TS

• Don’t switch bank accounts

• Don’t transfer balances between accounts

• Don’t increase the balance of any credit cards

• Don’t consolidate debt, including credit card debt

• Don’t close any accounts, including credit card accounts

• Don’t apply for ANY credit (new vehicle, furniture, appliances, etc)

• Don’t change your job, employer, the way you are paid, or become self-employed

• Don’t pay off charge-off or collection accounts before consulting with your lender

• Don’t make large deposits without the ability to document the source of the funds

TIPS ON BUYING IN A TIGHT MARKET

Increase your chances of getting your dream house instead of losing it to another buyer with these easy steps.

1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and make your offer more desirable to the seller.

2. Stay in close touch with me to find out first about new listings that come on the market, and be ready to go see a house as soon as it goes on the market.

3. Scout out new listings yourself. Look at Internet sites, newspaper ads, and drive by the neighborhood frequently. Maybe you’ll see a brand-new “for sale” sign before anyone else. If you do, call me immediately.

4. Be ready to make a decision. Spend lots of time in advance deciding what you must have so you won’t be unsure when you have the chance to make an offer.

5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but make your offer reflect how much you want this home. Don’t try to go too low to get a deal. In a tight market, you’ll lose out.

6. Keep contingencies to a minimum. Restrictions, such as needing to sell your home before you move or wanting to delay the closing until a certain date, can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Another option, talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you shouldn’t just buy anything. Even though you may want to make sure your offer is attractive, don’t just neglect inspections that help ensure that your house is a sound investment. A home inspection is highly recommended.

12 MOVING TIPS

1. If possible, move on a weekday while banks, utility companies, and government offices are open.

2. Use sheets, blankets, and towels to separate pictures, dishes, and other fragile objects. This cuts down on space and moving supplies. Socks can be slipped around the wine glasses to help pad the delicate stems.

3. Instead of wrapping each plate in newspaper or costly bubble wrap, alternate the real plates with Styrofoam disposable plates and—voila! Instant padding. Genius right?

4. Packing plates vertically, rather than flat stacked.

5. Mark each box with its contents and destination room so that you an your helpers will know where each box belongs at your new pad.

6. Fill two “OPEN ME FIRST” boxes containing snacks, instant coffee, tea bags, soap, toilet paper, toothpaste and brushes, medicine and toiletry items, a flashlight, tool kit, paper plates, cups, utensils, paper towels, and any other items you cannot live without.

7. Break out the garbage bags and pull one bag up around a cluster of your hanging clothes, then tie the open end by the hangers.

8. Have suitcases on wheels? Use them for packing heavy things like books.

9. Take pictures of which TV cable goes to which input on the different components, or how certain knickknacks are displayed on the bookshelves to serve as an unpacking guide. Photos may also protect your goods for insurance purposes should anything get damaged in the move.

10. In the new home, resist the temptation to pile box in the garage, attic, or back closet, with a promise to get to them later. If a boxful of stuff is so unnecessary that a year could pass without needing the contents, maybe it’s time to ditch the contents before the move. Otherwise, you risk forgetting where you put important things, or end up parking the car outside all winter.

11. The desire to relax is strong. The coffee table pushed up against the sofa looks so inviting, but those boxes aren’t going to unpack themselves. Resist the urge to derail your momentum. Otherwise, those boxes will just stand over your head. Unpack the TV last, sink deeply into that comfy couch, and revel in the knowledge of a well-done moving job any pro would envy.

12. If moving locally, arrange for your pets to stay with a friend or family member as animals can become confused and frightened during the move.

YOUR FINAL WALK-THROUGH

» Basement, attic, and every room, closet, and crawl space have been checked.

» Requested repairs have been made.

» Copies of paid bills and warranties are in hand.

» No major, unexpected changes have been made to the property since last viewed.

» All items included in the sale price-draperies, lighting fixtures, etc.-are still on site.

» Screens and storm windows are in place or stored onsite.

» All appliances are operating (dishwasher, washer/dryer, oven, etc.).

» Doorbell, and alarm are operational.

» Hot water heater is working.

» Heating and air conditioning systems are working.

» No plants or shrubs have been removed from the yard.

» Garage door opener and other remotes are available.

» Instruction books and warranties on appliances and fixtures are available.

» All debris and personal items of the sellers have been removed.