Marianna Shone Buyers Guide by Jordan Zweifel

MARIANNA SHONE REALTOR®

BUYERS GUIDE

Dear Valued Client, Thank you for taking the time to read this Buyers Guide and consider its information. On each page I want to show you how important you are, how important it is to get you into the home of your dreams, and how important your investment is to me. It is my mission to CARE about you and your family, SERVE you at the highest level possible, and GIVE back to the community. Once you have reviewed this information and witnessed how successful my approach is for ALL of my clients, I trust that you will want to partner with me on the purchase of your new home. Thank you for your consideration - I truly look forward to serving you and your family very soon!

Marianna S hone

Marianna Shone, REALTOR®

480.330.6229 | marianna.shone@russlyon.com | www.mariannashone.com

TABLE OF CONTENTS

Get to Know Me

Client Testimonials

3-4

Buyer Process

Getting Pre-Qualified

Loan Application Checklist

Make an Offer

Home Inspection & Appraisal

Estimating Your Closing Costs

Buyer Check List

11 - 12

Win - Win Solutions

12 - 13

Notes

Get to Know Me Marianna Shone REALTOR®

“I take great pride in the relationships I build and always work relentlessly on my client’s behalf to help them achieve their real estate goals.” Raised in London England, as the daughter of a Greek immigrant, Marianna understands both the value of hard work and overcoming challenges. Surrounded by the real estate business growing up, she learned early on that with great effort, integrity, and clear goals anything is possible no matter what your circumstances may be. Marianna’s love for travel took her to New York City in her early 20’s, where she lived and worked in the digital advertising industry, before finally moving to Arizona. After falling in love with everything the beautiful Southwest has to offer, she decided to call Scottsdale her home. As a graduate of Arizona State University, coupled with her true passion for serving others, has made her transition to real estate effortless. North Scottsdale is where she currently resides with her husband, their two children, and their sleepy English Bulldog ‘King George’. Dedicated to her clients, Marianna is focused on delivering the highest level of service and is committed to the success of each and every one of her Buyers and Sellers. This, along with her experience and knowledge of the local real estate market, has allowed her to bring a

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great deal of value to every sale, and has created a business model built largely on referrals and repeat clientele. She looks forward to serving you and your family.

CLIENT TESTIMONIALS Marianna Went above and beyond for my family. She showed us about 15 properties over the course of two days and we narrowed it down to one we really liked. She negotiated on that property and we were in escrow within one day. She also helped find my parents a dream home. She is very understanding, patience and extremely responsive and will spend as much time as needed going over every minute detail. She’s THE BEST!

Marianna Shone is a great realtor! She has a great personality, she is kind, witty, and very in tune with your needs and wants. She is a very professional person. We were very happy with our decision to work with her. She always made sure all of our inspections were done right and in a timely manner. We loved the house she helped us buy. I hope to work with her again in the future.

To say that I was pleased with my experience would be an understatement. My property was on the market for less than 1 hour before I had an offer above my asking price. We were able to close quickly and without any problems. I would highly recommend Marianna and I definitely would use her again.

We met Marianna at a local open house in our neighborhood. We immediately felt comfortable with her and really enjoyed speaking with her. We had Marianna come over for a market evaluation for our home. We were very happy with the services she offered. We used her services to help our daughter purchase her first home. The process was seamless and efficient. We put an offer on a home that was listed the same day. This home had several other offers and due to Marianna’s extensive negotiation skills, we were able to get into this home. The buyer accepted our offer as Marianna helped us to write the strongest case. From start to finish, the process took 30 days. Marianna has a wealth of contacts and helped us to secure this lovely home. We are continuing to work with her for our new home and plan on listing our current home with her. We highly recommend Marianna Shone.

BUYER PROCESS GET PREAPPROVED

GO SHOPPING

• Initial interview - I assess • The average buyer looks your wants and needs. at 5 HOMES before • Get loan pre-qualification. finding the right one. • The KEY to finding the right home quickly is to give me feedback when looking at homes.

SALES AGREEMENT

EARNEST MONEY

• Review the Arizona Real Estate Sales Agreement prior to finding your perfect home. • This will enable you to feel comfortable making a quick yet confident home buying decision when the right property is presented to you.

• Earnest money is used towards your down payment and is recommended to be 1% or more of the sales price. • Earnest money is submitted with your offer or upon mutual acceptance. It is “good faith” you are purchasing the home.

YOUR TOP 3 MUST HAVES FOR YOUR NEW HOME:

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__________________________________________________________________

HOME INSPECTION

• Home inspections are a cost paid by the Buyer. Typically, inspections run between $200 - $500 • Inspections are for major items only and are not required for all loan types. However, they are a good idea regardless to ensure the home you choose is in solid working condition.

APPRAISAL

CLOSING

• Appraisals are a cost paid by the Buyer. Typical appraisals run between $450 - $550. • Your lending company will require appraisal to ensure you are not overpaying for a property. • It is highly recommended that cash buyers also have an appraisal.

• You will visit a title company prior to closing on your property. This is where you will sign loan documents for your new home. • The close date is the date your loan will fund and record. This is the date agreed upon in the sales agreement. You will be given the keys on the day of closing and funding unless other agreements have been made with the seller.

Buyers Market

Promissory Note

Down Payment

A buyer’s market occurs when the supply (available properties for sale) exceeds demand (the number of buyers seeking to purchase properties).

A signed document in the sales agreement that contains a written promise to pay a stated sum to a specified person on a specified date.

A payment made during the onset of a home purchase. The payment typically represents only a small percentage of the total purchase price. Home buyers will often pay down payments ranging from 0% to 20% of the total value of the home, and a bank or other financial institution will cover the remainder of the costs through a mortgage loan. Down payments are based off of the type of home loan the buyer has obtained

Sellers Market A sellers market occurs when demand exceeds supply (there are more buyers seeking to purchase properties than there are available on the market).

Earnest Money A stated sum detailed in a promissory note. This deposit is made to and deposited with the designated title company. This deposit demostrates the buyer’s good faith in the transaction

GETTING PRE-QUALIFIED Knowing ahead of time the amount of loan you qualify for can take much of the mystery and guesswork out of the home-buying process and may strengthen your bargaining position with a seller.

Payment A pre-qualification will show you the monthly payment including principal and interest. It may also show you the amount you’ll have to pay toward mortgage insurance, hazard insurance and property taxes, which in most cases are added to the monthly mortgage payment. Knowing these figures in advance gives you a precise idea of the future costs of home ownership.

Preparations The first steps is to provide the lender with your basic financial information including: • • •

Gross income before taxes and deductions, savings and other liquid assets Debts, including installment payments on outstanding loans, school loans, credit card debt, personal loans, and other home loans Credit history

Calculations In the pre-qualifying process, lenders consider the interest rate and term of the mortgage to determine the amount of the loan. The higher the interest rate, the higher your monthly payments assuming all terms and principal are equal.

Results Pre-qualification results reveal the maximum loan amount for which you would qualify. The lender will tell you how much you’ll need for a down payment on the type of loan you’re applying for, and estimate the closing costs.

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LOAN APPLICATION CHECKLIST Addresses of residence for the last 2 years Social Security Number Drivers License or other valid ID Names and addresses of employers for the last two years Federal tax returns for the last two years W-2s for the last two years Last two months statments for all checking and savings accounts Loans: names addresses, account numbers, and payment amounts on all loans Real Estate Loans: names, addresses, account numbers, and payment amounts on all loans for other real estate you own Credit Cards: names, addresses, account numbers, and payment amounts on all credit cards Addresses and values of other real estate assets Value of personal property. Your best estimate of the value of all of your personal property (auto, boat, furniture etc) For a VA loan; Certificate of Eligibility or DD214s Divorce decree if applicable Funds to pay upfront for credit report and appraisal Letters of explaination regarding credit inquires or special circumstance

MAKE AN OFFER When we have found a home that you want to buy, the offer process begins. It will likely include the following:

Payment - I will help by prepare a purchase contract for presentation to the seller. This

agreement will include your terms of the purchase including how much you are offering for the home and any contingencies, such as home inspections or lender appraisal. Earnest money may also be included.

Offer is Presented - Upon completion of the Purchase contract, I will contact the seller’s agent and present the offer either electronically or in person. Offer is Accepted or Countered - The seller will evaluate the offer and then accept the terms or prepare a counter offer.

Closing Process Begins - If the seller accepts, the closing process will begin. If the seller counters, the ball is back in the buyer’s court and the buyer must decide if they will accept, reject, or counter the counter offer.

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HOME INSPECTION & APPRAISAL WHY YOU SHOULD OBTAIN A HOME INSPECTION Most buyers are not completely knowledgeable in identifying potential problems in the home they are about to purchase. A small investment in a home inspection helps buyers to save thousands of dollars in the long run. A buyer simply cannot afford not to have a professional home inspector survey the expernal and internal components of the home.

ITEMS YOUR INSPECTION REPORT SHOULD INCLUDE •

Foundations and structures: Floors and walls, proper drainage and ventilation, evidence of water seepage

• • • • • • • •

Exterior: Siding, windows, doors, exterior walls, porches, decks, balconies, and the garage. Roof: Roof type and material, condition of downspouts and gutters. Interior plumbing system: Hot and cold water systems, garbage disposal, water pressure and flow, hot water equipment. Electrical system: Type of service, number of circuits, type of protection, outlet grounding, and load balance. Central heating system: Energy source, type of cooling equipment, capacity, and distribution. Interior walls: Ceilings, floors, windows, and doors. Attic: Structural, insulation, and ventilation information. Fireplace: Chimney, damper, and masonry.

It’s important to know that every home has issues that the inspector will reveal and every home has it’s own ‘personality’, so to say. It is the home inspector’s job to find these, which is a good thing. Whether you’re a first time buyer or seasoned homeowner, the home inspection is your time to get to know the inner workings of your new home and to learn which seasonal and regular maintenance items are required in the wonderful world of home ownership.

ESTIMATING YOUR CLOSING COSTS Appraisal This is a one-time fee that pays for an appraisal. The appraisal is made by an independent fee appraiser.

Credit Report A fee that covers the cost of the credit report.

Document Preparation There may be a separate fee that covers the preparation of the final legal papers.

Loan Discount A fee used to adjust the yield on the loan to what market conditions demand. It is often called “points”.

Loan Origination The lender’s administrative costs in processing the loan. This fee covers the loan.

Title Charges The Title Company charges fees for the title search, title examination, recording fees, endorsement fees, a settlement or closing fee, and notary fees.

Prepaid Interest Depending on the time of the month your loan closes this per diem charge may vary from a full month’s interest to that of a few days. If your loan closes at the end of the month, you will have to pay interest only for a few days or so.

Taxes & Insurance

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You may be required to reimburse the Seller for property taxes, depending on the month in which you close. You will also need to pay a year’s hazard insurance premium up front. Also, you might be required to put a certain amount of taxes and insurance into a special reserve account held by the lender.

BUYER’S CHECKLIST Get Pre-Approved. Submit Mortgage Application

Schedule Home Inspection & Have Inspection

Drive Around Neighborhoods & Areas You Like

Finalize Inspection Negotiations

Research Schools

Pay For & Order Appraisal

Search For & Find Your Dream Home

Purchase Homeowners Insurance

Make An Offer

Get All Paperwork To Lender

Go Under Contract

Set up Utilities

Submit Earnest Money

Schedule Closing Walk Through

Finalize Lender Choice

Close On Your Dream Home!

Mortgage Application

WIN - WIN SOLUTIONS What You Can Expect From Me •

I will be on your side. I will work as hard as

•

I will keep your information confidential.

•

I will explain the entire process to you in advance

possible to meet your needs. I will always put you FIRST!

before you start your home search. •

I will respect your time and will work to accommodate you and your schedule.

•

I will educate you on all of the terms on the Buyer Agreement and Sales Contract.

•

I will respond to your phone calls and emails as quickly as possible.

•

I will always negotiate price and terms in your best interest.

•

I will discuss the benefits and drawbacks of each home in relation to your needs.

•

I will coordinate and monitor the inspections, document preparation, and other steps of the

•

I will be honest with you, even when I have

closing process.

information that you may not want to hear. • •

I will search the market constantly for newly

I will refer you to proven and trusted professionals throughout the entire process.

available homes that may meet your wants and needs.

•

I will do what it takes to live up to our mutual agreements to remain your “REALTOR® of

•

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I will help you compare homes so you can make an educated decision.

Choice” FOREVER!

What I Ap preciate From You •

Be honest with me and keep communication

•

open throughout our relationship.

If you see a listing that piques your interest, call me! I run marketing reports and bring the tool you need to make an informed decision.

•

Be available to look at homes and let me know if you are going to be out of town.

•

When attending open houses - be sure to bring your agent or agent’s card. Going solo may give

•

To prevent incorrect or biased information from

the agent representing the seller the wrong idea -

reaching you - I advise not to speak with other

that they now represent you. Remember: the

agents.

sellers pay my commission, not you!

If your wants, needs, or financial situation change

•

please let me know. •

When looking at new construction, let me know! I

I am 100% loyal to you and I greatly appreciate the same in return.

•

I love referrals! Be sure to let everyone know

have built relationships and have industry

about the high level of service I provided to you. I

insights to builders and their level of quality and

have build my business from referrals and

expertise.

appreciate you spreading the word if you are satisfied with my services!

•

If you see a “For Sale By Owner”, call me first. I can usually get sellers to work with us and I can be there to represent you and your best interests.

NOTES

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NOTES

MARIANNA SHONE REALTOR® 480.330.6229 | marianna.shone@russlyon.com | www.mariannashone.com

EQUAL HOUSING

OPPORTUNITY

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