The O'Dwyer Brainard | Buyer Guide

YOUR GUIDE TO

home THE O'DWYER-BRAINARD TEAM

MICHAEL O’DWYER & HOLLY BRAINARD Associate Real Estate Brokers

MICHAEL O'DWYER 631.741.4262

YOURLIHOME.COM

HOLLY BRAINARD 631.235.3300

Michael O'Dwyer and Holly Brainard ASSOCIATE REAL ESTATE BROKERS

a little about us...

Michael and

has

been

managed

Gale

Sotheby’s Brook

managers

the

office,

restoring

Holly

has

in

is

he

been

in

IBM

real

everyday

marketing

board

member

Scout

leader,

raised

and

provides

are

the

enjoys

estate

instilled

of her

in

the

the

both

perfect

years

having

Estate.

After

the

Michael

with

the

Village

10

to

to

community

families

entrenched combination

real

in

here, the

of

Daniel

manager

of

relationships

the

with

renovating

expertise

lifelong

Her

incorporate

Historical

owned

and

commitment

to

community.

years.

changing

Village

His

the

with

experience

personal

clients.

Three

over

countless His

previously

merger

remained

network.

him

desire

ever

their

40

fostering

gives

for

the

Three

of

and

the

commitment

totally

Real

sharing in

over

Sotheby’s

homes

unmatched

for

roots

entire

for

Realty,

developing

the

manager

Having

O’Dwyer

countless

that

industry

estate

International

other

knowledge

real

Virginia

Stony

and

in

success

estate

Holly

world.

PTA,

As

project

into a

and

current past

Girl

unquestioned.

and

community.

traditional

a

technology

Society,

goes

as

Michael Their

have

deep

partnership

marketing

and

technology.

let's connect Michael Holly

631.741.4262

631.235.3300

hollyandmichael@danielgale.com

yourlihome.com

1067 Route 25A, Stony Brook, NY

@HollyandMichaelDGSIR

instagram.com/theodwyerbrainardteam

HOME BUYER'S Roadmap Use this roadmap as a quick overview of the buying process. If you have any questions, please reach out to us!

1

2

3

FIND AGENT

FINANCIALS

TOUR HOMES

Find a great agent that

Determine what you can

Start searching for

you're comfortable

afford, get a credit check

and touring homes

working with

and pre-approved for a loan

6

5

4

INSPECTION

NEGOTIATE

OFFER

Set up an inspection

Let your agent help

Work with your

and plan to attend

you negotiate with

agent to make a

the seller

strong offer

7

8

9

APPRAISAL

LOAN APPROVAL

MOVING

Set up for an appraisal to

Receive your final approval

Set up your moving

be done on the new home

letter from the lender

date with movers

10 CLOSING Attend the closing meeting, get keys and celebrate!

THE O'DWYER-BRAINARD TEAM Associate Real Estate Brokers

Michael O'Dwyer 631.741.4262

hollyandmichael@danielgale.com YOURLIHOME.COM

Holly Brainard 631.235.3300

REAL ESTATE

PRE-APPROVAL A pre-approval is a preliminary evaluation conducted by the lender to show that the buyer has the funds to purchase up to a certain amount. This is extremely helpful when you find a home you're ready to put an offer on.

OFFER An agreement between a buyer and a seller to purchase a piece of real estate. This is sometimes referred to as a sales contract.

CONTINGENCY When an offer is accepted by the seller, but there are certain conditions that must be met before the sale is final.

CLOSING COST The fees that are paid at the end of the purchase by either the buyer, seller or both. These include taxes, insurance and lender expenses.

EARNEST MONEY Also known as "good faith" money, this is money put up by the buyer into a trust or escrow account. This action shows the buyer is serious about purchasing the home.

Terms

TITLE SEARCH A title search proves that the property is, in fact, owned by the seller. You can also purchase title insurance to make that no issues that arise later.

APPRAISAL The appraisal is the value given to a property based on comparable properties that have recently sold.

This is typically required by the lender in order to decide if the requested loan amount is in alignment with the value of the property.

HOME INSPECTION An inspection is a professional examination of the property's condition. Your agent can recommend a qualified home inspector for you.

DISCLOSURES All seller's are required to fill out a property disclosure stating what they know about the property - good or bad.

CLOSING This is the final step of your real estate transaction. At closing the funds from the buyer are provided to the seller and the buyer receives the keys. This process typically takes an hour.

REAL ESTATE IS AN IMPERISHABLE ASSET, EVER INCREASING IN VALUE. IT IS THE MOST SOLID SECURITY THAT HUMAN INGENUITY HAS DEVISED. IT IS THE BASIS OF ALL SECURITY AND ABOUT THE ONLY INDESTRUCTIBLE SECURITY.

RUSSEL SAGE

ten steps to

BUYING A HOME 01

FIND A GREAT AGENT

02

FINANCIALS

03

TOUR HOMES

04

MAKE AN OFFER

05

NEGOTIATE OFFER

06

INSPECTION

07

APPRAISAL

08

FINAL LOAN APPROVAL

09

SCHEDULE YOUR MOVE

10

CLOSING

FINDING A GREAT AGENT A

real

you

estate

as

you

buying

you

a

through

skilled the

best

interests

home

a

huge

is

of

the

one

your

asset

home-

of

the

life

and

professional

to

you

guiding

you

process.

agent

you

is

through

This

decisions

Your

guide

go

process.

biggest need

agent

will

be

in

working

mind

through

all

and the

with can

your

help

stages

of

buying.

Connect YOU WITH THE PERFECT HOME Agents often have access to information about homes going on the market before the public.

They can also arrange open houses and tours of homes that match your criteria.

Knowledge OF NEIGHBORHOOD Agents will be able to offer insightful details about the neighborhoods you are considering.

Attention TO DETAIL The process of buying a home requires a good deal of paperwork. Your real estate agent will help you fill out all documents and get them submitted properly.

Professional NEGOTIATOR Agents deal with any difficult conversations that need to happen. They will also help you submit a strong offer and negotiate with the seller on your behalf.

Expert GUIDE Realtors are there to help you with any questions you have along the way. They offer an objective opinion when you're analyzing the features you're looking for.

FINANCIALS Lenders spend your

recommend

no

more

annual

home.

You

mortgage which

that

than

3-5

income

can

on

find

a

times

a

new

many

calculators

provide

you

online,

great

starting

point.

When to

calculating,

include

attorney and for

extra

expenses

like

home

inspection

appraisal

costs

and

home

While

it's

put

20%

a

ideal

isn't

necessary.

and

loans

little

home,

ways

as

if

you

can

down-payment

new

many

money

improvements.

your

of

forget

fees,

any

less

don't

to

with you

it

certainly

There

put

3.5%.

are

down

certain may

on

much

types

need

as

CREDIT CHECK It

is

as

important

this

will

mortgage

be

to a

sometimes

you

loan,

or

above.

interest

a

ideally

The

a

factor

approval

While a

have

and

in

higher

check

in

the

want

the

done

determining

interest

score you

credit

rates.

500's

to

aim

score

your

the

can

for

620

lower

rate.

PRE-QUALIFIED & PRE-APPROVED Many

times

different

areas.

which

is

Either

way,

more

seller

that

funds

to

offer.

so

You

being

you

purchase

still

Don't

new

want make

credit

want

in

serious

you

be

your

used to

the

home

can

can

be

any

cards

ask

or

that

help

and

real then

estate

you

most

you

you

shows

likely

choose

budget

agent

apply.

pre-approved

should

also

your

in

to

have

the the

place

as

you

will

be

an

will

know

afford.

does

to

and

interchangebly

market

pre-qualified

you're

what

can

will

credible

pre-approval

time. for

terms

Pre-approval

exactly

This

these

not

guarantee

careful

large during

with

your

purchases, this

a

time.

loan

spending

change

offered

during

jobs

or

this

apply

get

the

TOUR HOMES

Make

a

things

list

of

you a

need

want

in

new

Think

about

bedrooms

all

the

and

home.

how

many

and

bathrooms

you

We

need.

will

homes Do

you

kitchen in

yard

to

you?

want or

is

more

a

big

a

fenced-

start and

touring

weigh

positive

and

aspects

of

all

negative

each

one.

important When your

you next

make

and

through

find

THE

step

will

offer

any

house, be

and

the

photos

photos

remember

Focus or

on

size

Test

at

your

home

details

the

of

phone

with

the

while

visiting

address

of

each

the

house.

property

so

Organize you

things

as

turn

everything

is

you

you

walk

faucets in

can

later.

can't

change

like

the

neighborhood,

bedrooms.

things

windows,

with

through

on

working

and

the

flush

order.

home. toilets

Open to

and

make

close

sure

to

go

negotiations.

Home searching tips......

Take

the

lot

MAKE AN OFFER Once is

to

you've make

properties

found

an in

the

offer. the

We

area

home

you

will

look

and

want, at

decide

the

next

step

comparable

on

a

strong

first

offer.

Many

owners

negotiate well.

so

price we

a

will

little take

high that

expecting into

to

consideration

as

NEGOTIATE OFFER

Many

times

initial

offer

presented will

after

come

the

is

the

owner

back

with

a

counter-offer.

As

a

buyer,

afraid what

to

a

new

whole You

that

be

or

house

don't

unless

for

want.

roof

they're

be

bargain

you

Whether

don't

the

painted.

know

willing you

cost,

ask.

what to

do

INSPECTION It's

always

your

offer

a

good

stating

have

the

property

back

out

of

on

the

idea that

to

add

you

have

inspected.

agreement

a

contingency a

certain

This

if

gives

you

and

amount

you

the

clause

the

into

of

time

right

seller

can't

to

to agree

repairs.

Plan

to

attend

prepared

You it's

will

to

the

ask

receive

sometimes

hear

the

inspection

any

a

questions

report

easier

information

and

to

of

see

be

you

have.

findings, the

directly

issue

from

but and

the

inspector.

After

the

inspection

there

are

any

negotiate

Be not

careful let

pressing

with

to

major

is

the

not

complete,

decide

issues

want

you

seller.

be

too

concerns

picky,

go

but

also

unaddressed.

to

if

APPRAISAL Your lender will require an appraisal of the home before finalizing the loan.

The home appraiser will take into account the neighborhood, housing market, age and condition of the home, etc.

A property title search will ensure that the sellers are truly the owners of the property and any leins or judgments are disclosed.

LOAN APPROVAL The

loan

loan.

You

review once

Home

is

only

will

your

fully

complete

receive

income,

a

final

credit

after

the

approval

report

and

lender

letter

approves

after

employment

the

they status

more.

owners

company

will

insurance finalize

is

the

also loan.

required

before

the

mortage

SCHEDULE YOUR MOVE You will want to get movers scheduled as soon as possible.

Make sure to avoid scheduling the move and closing on the same day if possible. If you will be doing renovations, start getting quotes from contractors.

Make sure you set up the transfer of utilities for closing day.

10 CLOSING Closing of

your

closing

is

the

home. to

final You

assure

and

everything

The

closing

patience.

ID,

cashier's

title

Don't door

opener

that

is

in

check or

to

Congratulations

a

itself

re-key

to

final

negotiated

any

become

the

legal

walk-through

work

has

been

just

owner before

completed

order.

requires

with

and

your other

a

lot

of

paperwork

government documents

issued

and

photo

required

by

the

officer.

all

when

on

you

working

loan

code

for

take

prepared

company

forget

will

process

Be

step

your

the

the

locks

and

property

new

home!

is

change

the

officially

garage

yours.

CUSTOMERTestimonials Holly referred us to a terrific network of people from plumbers to electricians that helped us prepare the house for sale. She brought in a wonderful photographer to showcase our home with its best possible views; it looked amazing! Holly's greatest strengths are her excellent communication skills, negotiation style, and marketing/technology background. She was always available to answer questions and give feedback and is very hard working and professional. Holly has a real talent and passion for her work and goes above and beyond for her clients. She treats you more like family! We were very happy!

Ann Hooker

Michael was so professional and skillful at selling my house. He was a pleasure to deal with daily. He valued my house at a very high number which was located on a unique street and was able to achieve the number in a short time frame. I highly recommend him for the three village area. Pleasure to work with!!

Zillow 09.15.2016

Holly was a pleasure to work with. She not only found me the perfect house, she negotiated a great price, and helped coordinate everything from the home inspection to recommending a great closing attorney. Thanks Holly...I couldn't have done it without you.

Steve Dressler

Within a few days of our first meeting at an open house, Michael was able to identify and show us a house that met all of our requirements. His knowledge of the area (and local contractors) was very useful, and he was a pleasure to deal with throughout the entire process. We highly recommend Michael for your sale or purchase needs!

Zillow 02.16.2016

RECOMMENDED lenders Anne Castro

Home Mortgage Consultant

Wells Fargo Home Mortgage

631.273.2263

office

631.949.2819

cell

anne.f.castro@wellsfargo.com www.wellsfargo.com 3033 Expressway Drive North Islandia, NY 11749

Marc Franchi

Mortgage Loan Officer

Caliber Home Loans

marc.franchi@caliberhomeloans.com 516-962-8520

cell

www.caliberhomeloans.com 330 South Service Road Suite 130 Melville, NY 11747

Jonathan Bardram

Vice President

Coltrain Inc Funding Group

888.745.3303 X13

office

631.275.5143

cell

jbardram@coltrain.com www.coltrain/jbardram.com 140 Fell Court Suite 101

Hauppauge, NY 11788

RECOMMENDED inspectors John Zeoli

Owner

New Home Inspectors, LLC

631.368.1800

office

631.626.4768

cell

quality@newhomeinspectors.net www.newhomeinspectors.net

P.O. Box 586 East Northport, New York 11731

Blaise Ingrisano

Inspector

Inspecticore

631.366.2776

cell

www.inspecticore.com

1121 Walt Whitman Rd Suite 302 Melville, NY 11747

RECOMMENDED attorneys Susan F. Fitzpatrick, ESQ

631.331.1900

Attorney at Law

office

susanfitz9@optonline.net www.susanfitzpatricklaw.com 1031 Main Street Port Jefferson, NY 11777

Steven Siliato, ESQ

Attorney at Law

Lieb at Law, PC

steven.siliato@liebatlaw.com 646.216.8009 x151

office

www.liebatlaw.com 308 W. Main Street Suite 100

Smithtown, NY 11787

Peter Legakis, ESQ

631.751.1464

Attorney at Law

office

legakis@optonline.net

6 S. Jersey Avenue Suite C Setauket, NY 11733

Elisa P. Gerontianos, ESQ

641.473.5550

Attorney at Law

office

epglaw@outlook.com 503 Main Street Port Jefferson, NY 11777

HOME TOURING

ADDRESS OF PROPERTY:

Checklist

______________________________________________________

DATE VISITED: _______________________ PRICE:

________________________________

BEDROOMS: ________ BATHROOMS: ________ SQUARE FOOT:

__________

LOT SIZE: ____________________________ YEAR BUILT: ___________________________ SCHOOL DISTRICT:

_____________________________________________________________

CURB APPEAL DISLIKE

NEUTRAL

INTERIOR LOVE

DISLIKE

EXTERIOR DISLIKE

NEUTRAL

NEUTRAL

LOVE

PRICE LOVE

DISLIKE

LOCATION DISLIKE

NEUTRAL

NEUTRAL

LOVE

NEIGHBORHOOD LOVE

DISLIKE

NEUTRAL

LOVE

ADDITIONAL COMMENTS: ____________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________

Notes

THE O'DWYER-BRAINARD TEAM

MICHAEL O’DWYER & HOLLY BRAINARD Associate Real Estate Brokers

MICHAEL O'DWYER 631.741.4262

YOURLIHOME.COM

HOLLY BRAINARD 631.235.3300