A Buyer’s Guide To PURCHASING A HOME
Our team is excited to help you find the perfect home for YOU! As a team, we offer our buyers an immersive experience from start to finish. Our lead buyers agent, Rennie Mills, has helped more than 150 buyers find their perfect home and she’s equipped to help you discern exactly what you ’ re looking for in a property. Our showing agent, Daniel Wood, will guide you through viewing properties that pique your interest and help you narrow your viewpoint. Once you ’ ve found THE ONE, our transaction coordinator McCall Griggs will be there every step of the way as you make your way to closing day. Our mission is to become YOUR trusted real estate experts.We look forward to get started on this home buying journey with you!
Hello!
Rennie Mills & Daniel Wood
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W E L O O K F O R W A R D T O W O R K I N G W I T H Y O U
Claire Pereira
Using her expert skills, Claire plans/creates all our marketing materials (digital and physical), runs our social media accounts, and helps plan events She keeps in contact with past and present clients and ensures every home is marketed effectively
g/ g p casts the vision for the team driving it to constantly grow the value that we bring to our clients on a consistent basis
Noah is the culture keeper of the team He keeps the team on track by building operational workflows, is responsible for negotiations, budgeting, purchasing, and is in charge of developing long term operational strategies to meet our company objectives
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Marketing Coordinator
Danny is a bright conversationist on our team who regularly greets and connects with buyers, schedules/attends showings and inspections, assists at open houses, and obtains valuable feedback from our buyers
McCall is the glue that holds the deal together She is responsible for ensuring every client has the communications that they need to have every question answered before it is even thought up!
Rennie is our incredible buyer's agent She assists in every step of the buying process and her communication skills with clients are unmatched Rennie identifies and shows homes that meet each buyer's needs, and is present during showings, inspections, and closings
S T E P S T O C L O S I N G 01THE RIGHT TIMING 02
inspection Review disclosures
How long are you
Consider the different loan programs available (FHA, VA, Conventional) Make sure your credit is in good shape (620+)
03
FINDING THE RIGHT HOME
GETTING PRE APPROVED
the appraisal Securing financing 05CLOSING DAY
How many bedrooms and bathrooms? Are school districts important?
04
FINANCING
Get a home
Attend the final
Schedule utilities
walkthrough
planning on living in your next home? Consider the benefits to owning a home
your move Change over
Order
What kind of home are you looking for?
How much can you afford?
PROCESS
Theaveragehomeinspectioncosts$400-$600
FINANCIALS AND MORTGAGE PAYMENT
Determine the monthly payment you are comfortable with the payment will include your property taxes and homeowner's insurance
In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspections.
Mortgage lenders recommend you do not stretch your budget for your new home beyond an amount that is 3 to 5 times your annual household income If you are not purchasing a home with cash, you will need a mortgage pre approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs and makes sense for your long term goals. We have carefully selected our preferred lenders because they are experts at assisting our clients in finding the loan program best for them.
PREPARE FOR THE LENDER
Compile necessary documents, including pay stubs, bank statements, and past tax returns
SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES
Study your credit report Make note of any errors you see and talk to your lender about them
Adownpaymentistypicallybetween3.5% 20%ofthepurchaseprice Earnestmoneyismoneyyouputdowntoshow you’reseriousaboutpurchasingahome.It’salso knownasagoodfaithdeposit. Closingcostsforthebuyerareonaveragean additional2% 5%oftheloanamount
I. THOU SHALT NOT CHANGE JOBS, BECOME SELFEMPLOYED, OR QUIT YOUR JOB II. THOU SHALT NOT BUY A CAR, TRUCK, OR VAN (OR YOU MAYBE LIVING IN IT!) III. THOU SHALT NOT USE CREDIT CARDS EXCESSIVELY OR LET CURRENT ACCOUNTS FALL BEHIND IV. THOU SHALT NOT SPEND MONEY YOU HAVE SET ASIDE FOR CLOSING V. THOU SHALT NOT OMIT DEBTS OR LIABILITIES FROM YOUR LOAN APPLICATION VI. THOU SHALT NOT BUY FURNITURE VII. THOU SHALT NOT ORIGINATE ANY INQUIRIES INTO YOUR CREDIT VIII. THOU SHALT NOT MAKE LARGE DEPOSITS WITHOUT CHECKING WITH YOUR LOAN OFFICER IX. THOU SHALT NOT CO-SIGN A LOAN FOR ANYONE X. THOU SHALT NOT CHANGE BANK ACCOUNTS *PLEASE DISCUSS SPECIFIC CIRCUMSTANCES WITH YOUR LOAN OFFICER PRIOR TO MAKING ANY CHANGES THE TEN COMMANDMENTS OF HOMEBUYING
Determine your monthly mortgage payment
Change your address with USPS, your bank, and other institutions
Ensure you have the funds
Request a list of what conveys with the property
Order an appraisal
Compare home and neighborhood averages, narrow down neighborhoods you want Schedule home tours and plan an itinerary with your agent
Solidify both contract effective and allowable move in dates
Transfer funds for closing
Bring 2 forms of government issued proof of identification (preferably a state ID and your social security card)
Get to know neighborhood inventory
Set up your utilities to be activated or transferred
Prepare for down payment & earnest money deposit
Sign closing disclosure, promissory note, and all other documentation
Save your paperwork in your pre designated spot
Understand your debt to income ratio
Choose a target closing date
Obtain a pre approval letter
2 3 5
Confirm that all contingencies have been met Schedule the final property walk through Designate a safe, dedicated space to save your final paperwork
BUYING YOUR HOME Checklist
Complete needs assessment
Understand what is available
Understand what you can afford
6
7 8
PARTNER WITH OUR TEAM
GET PRE-APPROVED BEFORE YOU CLOSE
Sign the offer
1
4
Conduct a title search
CLOSING DAY: WHAT TO BRING CLOSING DAY
Prepare for escrow
Review contract terms carefully with your agent
UNDER CONTRACT
Stay in close contact with your agent, lender, and title company
Shop home insurance options
Have a consultation
Nix homes that don't meet the mark
Acquire home insurance and send proof to your lender
Begin your financing application
FIND YOUR NEW HOME
Connect with the title company to confirm the amount of funds needing to be wired for closing costs & your loan down payment. Bring a printed confirmation of your wire transfer
Title transfer
MAKE OFFER & NEGOTIATE
Stay in close contact with your agent, lender, and title company
Deed delivery
Schedule home inspection/negotiate repairs
Stay in close contact with your agent
See what's about to the hit the market Gain access to off market properties
Get your keys congrats, it's all yours!
Identify favorite homes Decide on your dream home
Negotiate purchase price up or down Review disclosures and acquire a property disclosure from the seller
Set a moving date & reserve a moving company
Certify funds for closing Schedule your closing
Deliver escrow check
Make a list of the things you'll need to have in the house Before you begin touring homes, get clear on how many bedrooms and bathrooms you'll need and get an idea of how much space you desire. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard for your kids and/or pets to play in?
START HOME
Find properties in your price range and in your preferred neighborhoods
RESEARCH MORTGAGES AND LENDERS
Spend time in each area and make sure the space works for you
Get clear on what you want and what you need
Once you've made a list of your must haves, don't forget to think about the kind of neighborhood you want, the types of schools in the area, the length of your commute to and from work, and the convenience of local shopping Take into account your safety concerns and how good the rate of home appreciation is in the area Understand there will always be compromises, so consider what you're willing to give up and what you are not.
Visit open houses and have one of our team members schedule private showings
An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain threshold Keep in mind, you ’ re informing the seller of the true amount you ’ re willing to pay, which may be significantly over the home’s appraised value
Escalation Cause
The earnest money a k a escrow deposit signals how serious a buyer you are Be sure you are serious about buying this home If you cancel after your inspection period, you’ll lose your earnest money
Gift of Time
A good rule of thumb, specifically in a seller’s market, is to start strong To do this, we will assess the property’s market value with a CMA (complete market analysis) and determine what it's worth in the current market
Contingencies can add time to the negotiation process They’re beneficial to buyers, but can be a nuisance to sellers who are ready to move on fast It is important to avoid any unnecessary contingencies
Earnest Money
Competitive Offer
Limit Contigencies
Express your willingness to work with the sellers’ timeline to go to closing We can ask the sellers when their ideal closing date would be so the offer will make them feel like they are winning!
PROFESSIONAL TIPS ON MAKING A GOOD OFFER
Ask for a credit toward your closing costs
Cancel your contract (if you have an inspection contingency in place)
Ask the seller to make the most important repairs
ORDER AN INSPECTION
FINAL
NEGOTIATE
During the inspection period, we will schedule an inspection with a reputable home inspector to do a thorough investigation of the property. Once this is complete, the inspector will provide us with a detailed inspection report
Move forward with no repairs made a.k.a. "As Is" are your options after a home inspection reveals problems:
A home inspection can help identify deficiencies in a home you ’ re considering purchasing If the inspection reveals problems and repairs are needed, you may be able to negotiate with the seller to fix those issues, but this isn't always the case.
Ask the seller to reduce the sales price to make up for the repairs
Here
1 2 3 4. 5 OFFER
CLOSING APPOINTMENT Who will be there: • Your agent BRING TO CLOSING • Two forms of identification RECEIVE YOUR KEYS Congratulations! It was a lot of hard work but you are now officially home owners!! Time to move in, get settled, and get to know your new neighbors!
CLOSING DAY
FINAL WALK THROUGH
• Make sure all appliances are working properly
• Run the water in all the faucets and check for any possible leaks
• Flush toilets
We will do a final walk through of the home within 24 hours of closing to check the property’s condition. This final inspection takes about 15 30 minutes. We will make sure any repair work that the seller agreed to complete has been done We will be sure to:
• Run the garbage disposal and exhaust fans
• Open and close garage doors with garage door opener
Closing is when you sign all final documents, officially purchase the home, and receive your new home’s keys! Typically, closing takes one hour
Rennie made the entire experience and process so smooth and painless! She was very responsive and also patient giving us the time we needed to make such a big decision She also went to bat for us when the sellers had unusual requests or ran late on paperwork. Rennie is such a pleasure to work with I highly recommend her as a realtor!
VERONICA G.
ASHLEIGH S.
This was such an easy process to go through with the Mills Group. I was nervous coming in as a first time home buyer but the Mills Group answered all my questions anytime I sent one over Daniel and Rennie helped at every step of this process and They really put my mind at ease I couldn’t provide a better recommendation than the Mills Group for anyone who is thinking about buying a home The caring touch didn’t stop at closing These interactions will leave a smile on my face for years to come, thank you Mills Group for everything!
testimonials
LISA E.
We chose The Mills Group on the recommendation of a friend, and now we will be recommending them to others. Through every step of the process, Rennie has been knowledgeable, personable, professional and easily accessible She has become a trusted resource as well as a pro active advocate for our needs as we approach the closing on our new home
Daniel was phenomenal while working with our family…We drove back and forth, over and over, and he gave up countless weekends to accommodate us They worked seamlessly with our lenders and the sellers all while giving us personal recommendations for transition accommodations, storage, moving companies, you name it! You won't find a more professional, accommodating or connected group of realtors We found everything we wanted and more thanks Mills team!!
WILLIAM M.
An all around AMAZING Team!!! Professional and quick to respond from day one. They took a quick, but in depth survey on what both my wife and I were looking for an had a listing prepared with in a day they were quick to find us something that met exactly what we were looking for They have my highest recommendation!!!
And a shout out to Daniel, for being so flexible with our schedule and always available to answer our questions!!!
testimonials
ALFREDO F.
Rennie and Jonathan were amazing We had a complicated closing involving getting permits for a room addition and new roof installed as well The closing ended up taking longer than we planned but they worked with us every step of the way. As first time home buyers we would highly recommend the mills group!
KRISTY B.
