Shaun Stoller - Buyer's Presentation

THE HOME BUYING

1. CONSULTATION

WE MEET! DISCUSS YOUR WANTS, NEEDS, DREAMS, AND ESTABLISH YOUR PRIORITIES.

2. FUNNEL PROCESS

THE PROCESS TO FIND A GREAT HOME WHILE NOT MISSING ANYTHING OR OVERPAYING.

3. GET PRE-QUALIFIED IF YOU NEED FINANCING, YOU HAVE TO BE APPROVED BY A TRUSTED LENDER.

4. SEARCH PROCESS

5. OFFER AND NEGOTIATIONS

I WILL HELP YOU MAKE A STRONG OFFER TO GIVE YOU THE HIGHEST CHANCE OF ACCEPTANCE.

START OF THE PROCESS

THIS IS THE FUN PART. WE WILL TOUR THE TOP HOMES IN OUR FUNNEL TO FIND YOUR TOP 3. 1 2 3 4 5

BUYING PROCESS

6. OFFER IS ACCEPTED!

THE SEARCH IS OVER, BUT WE ARE NOT DONE! TIME FOR INSPECTIONS AND AN APPRAISAL.

7. BUYER FINANCING WORK WITH THE APPRAISAL AND MORTGAGE LENDER TO FINANCE YOUR PURCHASE.

8. FINAL WALK THROUGH LOOK THROUGH THE HOME ONE MORE TIME BEFORE CLOSING. DON’T SKIP THIS STEP!

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9. CLOSING SIGN THE CLOSING PAPERS. CONGRATULATIONS!

YOU JUST PURCHASED YOUR NEW HOME!

10. REAL ESTATE REVIEW 1 YEAR AFTER CLOSING, WE WILL REVIEW YOUR REAL ESTATE HOLDINGS.

10 DREAM ACCOMPLISHED!

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SEARCH PROCESS

IF YOU ONLY LOOK FOR PERFECT, YOU’ll MISS THE IDEAL HOME

When searching for your home, we need to thoroughly understand your wants and needs. Here’s how to get started:

Wish List: The wishlist is your complete list of everything you are looking for in your new home. Use it as your starting point before narrowing your options. Feel free to be as unrealistic as you want in this category, but understand it may not come true. On each item, note why you want that specific feature, as it helps you learn what is important to you.

Wants: Although there is no such thing as the perfect home, it is important to list the features you want. You may need to forego some of this list, but ideally, you should be able to hit 70-80% of it. Try to limit this list to no more than 10 items.

Needs: The needs list are what are absolutely essential to have, and the reason you are searching to purchase a home. This list should be limited to no more than 3 features.

If you want to jump in to your home search right away, consider and write responses to the following:

FAVORITE STYLE OF HOME?

OLD OR NEW?

FINANCING OR CASH?

ANY DEAL BREAKERS?

NEIGHBORS OR PRIVATE?

FIXER-UPPER OR MOVE-IN READY?

ACREAGE OR SMALL YARD?

RURAL OR URBAN?

3 MOST IMPORTANT FEATURES:

THE FUNNEL PROCESS

MLS LISTINGS, FOR SALE BY OWNER, NEW CONSTRUCTION, AND MORE

ONLINE VISIBILITY

Hundreds of houses available

DRIVE-BY Narrowed down to 30-50 homes

HOME TOURS

5-10 you would consider purchasing

TOP 3

Based on location, price, & features; evolving process

THE SEARCH BEGINS

REAL ESTATE TERMS

BUYERS NEED TO KNOW

APPRAISAL

Appraisal is the criteria and decision of valuing a property. An appraiser makes an educated estimate based on the previous purchase price and comparing it with recent nearby sales.

CLOSING COSTS

These are costs buyers pay at escrow at the closing of their property that include lenders fees, prepaid interest, a share of the property taxes, transfer taxes, deed filing fees, agent commissions, commissioner, inspector, and appraiser fees, and title insurance.

APPRECIATION

Appreciation is the rise in value of a property based on fluctuations in the economy rather than the owners improving the home.

MLS

MLS stands for the Multiple Listing Service which digitally provides your real estate agent with information of homes currently on the market. While the public can access websites like zillow.com, MLS is the most professional and has the most current and accurate information

HOME INSPECTION

The property is examined by a professional inspector to determine the condition of a property. This includes heating/cooling systems, plumbing, electrical, and safety.

EASRNEST MONEY

Earnest money is a payment held in Escrow that the buyer will use as a promise to purchase the home. If the contract cannot be filled on the seller’s end, the money is refunded to the buyer. The earnest money is credited toward the final home purchase, unlike most other fees. The earnest money is refundable if the sale is cancelled during the due diligence period.

DUE DILIGENCE PERIOD

The due diligence period lasts 14-20 days agreed upon by the buyer and seller and is the buyer’s chance to inspect the property before the final purchase offer. This includes appraisal, inspections, zoning, meeting with the HOA, and making any necessary demands or changes to the contract based on this feedback.

RECORDING

This is when the deed is officially recorded at the county office. The keys are exchanged with the new owners during this step.

Pieces of Money You Need to Know About

EARNEST MONEY

Earnest money is a check written at time of offer that proves to a seller you’re serious about the purchase. Earnest money is held in escrow until closing and then applied towards the purchase. Earnest money usually ranges from $500–$5,000 depending on the price of the home.

INSPECTION MONEY

It’s your right to choose any inspector you dream qualified, even if that’s your Uncle Billy Bob. If you don’t already have an inspector in mind, I will recommend and even schedule on your behalf a group of highly skilled, experienced, and licensed inspectors that put your best interest first. Inspections typically occur in the first 7–10 days after having a fully executed contract and can range from $250–$1,500 depending on the home’s features (pool, septic, chimney, etc) and depending on how in depth you want to go.

APPRAISAL MONEY

If a mortgage is involved, your lender must order an appraisal to ensure the house is worth the amount it’s lending. This typically costs between $450–$650 and is paid directly to your lender within the first five days of the contract period.

What Are Closing Costs?

Closing costs are fees associated at the closing of a real estate transaction when the title of the property is transferred from the seller to the buyer. Closing costs typically range from 3–6% of the purchase price and are incurred by both parties. Here are some common closing costs:

• A fee for running your credit report.

• A loan origination fee, which lenders charge for processing the loan paperwork for you.

• Attorney fees.

• Discount points, which are fees you pay in exchange for a lower interest rate.

• Survey fee, which covers the cost of verifying property lines.

• Title search fees, which pay for a background check on the title to make sure there aren’t things such as unpaid mortgages or liens on the property.

• Title insurance, which protects the buyer and lender in case the title isn’t clean. (If combo isn’t purchased)

• Escrow deposit, which pays a couple of months of property taxes, homeowner insurance, and private mortgage insurance.

• Prorations for your share of the homeowners’ association fees.

• Recording fee, which is paid to the county in exchange for recording the new land records.

Lenders are required by law to give you a Loan Estimate, which will include what the closing costs on your home should be. At least three business days before closing, the lender will give you a Closing Disclosure statement, which outlines exact closing fees. This Closing Disclosure statement must be signed by the buyer the same day it is issued to avoid a delay in closing.

BUYER MISTAKES

WHAT TO AVOID WHEN BUYING YOUR HOME

GETTING TOO EMOTIONAL

This is a super common dilemma for home shoppers. It can be difficult to balance the excitement of a new home with the logic of staying on budget. Think of your home shopping from the perspective of a businessowner or investor rather than the person who will actually live there. Walk through the house as if you are not the buyer, so that you’ll be able to think financially wisely. However important it is to value sentimental or emotional aspects of the home, it can be an added stressor in the process and negatively impact your judgement.

SHOPPING BEFORE GETTING PRE-APPROVED

Home shopping is fun, while speaking with the bank can be stressful.. Many first time home buyers visit and tour properties before finding out their borrowing budget. Too often, these buyers find out they are in the wrong price range (either too high or too low). Speak with a mortgage lending professional about getting pre-qualified or pre approved before you begin your home search. This process reviews your income and enforces your offer with proof of funding.

EMPTYING YOUR SAVINGS

Most people are not buying new construction, so their homes will inevitably need repairs and upkeep. This can include things such as a new water heater, roof repairs, or more. Have enough money for your down payment and closing costs, but save back enough for potential repairs. You can always ask your lender for approximate closing costs, and its easy to approximate moving expenses online.

CHOOSING THE WRONG LENDER

Remember that you have a bargaining chip and it pays to compare offers, even from mortgage lenders. Interest rates vary from lender to lender, and so do closing fees and discount credits. According to the Consumer Financial Protection Bueau, almost 60% of borrowers take the first loan they are offered. To avoid this, apply with multiple mortgage lenders. A borrower can save up to $500 in the first year by comparing lenders. All mortgage applications made within a 45 day window only count as one inquiry on your credit.

Real Estate Elite

Shaun enjoys helping people accomplish their dreams. He works with clients through each step of the process, from an initial meeting to the day of closing. Each client has different goals in purchasing or selling a property, Shaun develops a strategy for each client’s specific needs to ensure a successful investment.

Before entering the real estate field, Shaun worked in the concrete industry in numerous positions including sales, program development and management. By helping his clients accomplish their goals, Shaun has built a reputation based on excellent customer service skills, integrity and a strong work ethic.

“For many, purchasing real estate is one of the biggest decisions you will ever make. As a trusted advisor my goal is to help you throughout the process. I will provide a proven process that will help you make informed decisions regarding your real estate goals.”

In his free time, he and his wife enjoy traveling together and spending time with their four children.

918.986.2664

sstoller@cctulsa.com • sstoller.ccoklahoma.com

Testimonials

Shaun was very knowledgeable, professional and kept us informed throughout the whole process of what we were to expect next. He was always available night or day to answer any questions or concerns we had. We would both highly recommend Shaun as a realtor that truly has your best interests at heart!

-Sandra C.

Shaun was extremely helpful with the property when we couldn’t be there. We enjoyed the experience of working with him to get our house sold during a busy time in our lives.

- Ellen J.

Shaun went above and beyond from the beginning (listing the house) until the closing. He dealt with our renters and the buyer and spent a lot of time trying to make everyone happy. All we had to do was sign paperwork and pick up a check! Thank you Shaun!

- Randi F.