BUYER’S GUIDE lana@lanamccurdyhomes.com | 256.996.4179 | www.hollandhomesllc.com
Table of Contents Meet Lanapage3 Reviewspage5 Buyer Promisepage6 Why a Professionalpage7 The Lingo and Processpage9 Mortgage Application Checklistpage10 Recommended Vendorspage13
Meet Lana 3 256.996.4179 www.hollandhomesllc.com lana@lanamccurdyhomes.com @lanamccurdyhomes @lanamccurdyhomes
ABOUT
Originally from Northeast Alabama, I moved to Auburn to attend Auburn University thinking it would be my home for four years. However, nearly a decade later I am still proudly calling Auburn home. As a former teacher, I readily take on the role of educator and counselor when it comes to working with clients. I believe that with knowledge comes the power to make decisions that benefit both you and your family. Relationships and excellent customer service are the foundations of my business. For that reason, I am committed to gaining your trust and working diligently to ensure a smooth transaction.
EDUCATION Auburn University-Bachelor of Science in Elementary Education • Summa Cum Laude My Real Estate School- State of Alabama PROFESSIONAL MEMBERSHIPS National Association of REALTORS® Lee County Association of REALTORS® Women’s Council of REALTORS® Lee County Association of REALTORS® Community Service Committee COMMUNITY INVOLVEMENT Auburn Young Professionals First Baptist Church of Opelika AWANA Leader Auburn Chamber of Commerce Diplomat 4
“ “ ” ” WHAT BUYERS
- Bought a Single Family home in 2019 in Auburn, AL ARE
Lana went above and beyond to make our home buying experience as stress free as possible. She never let any questions we had go unanswered. We are very thankful to her for finding us a home that we love and would recommend her to anyone looking to buy or sell a home. She was truly a joy to work with.
- Bought a Single Family home in 2019 in Auburn, AL Lana made buying my first home easy. She ensured that I was completely aware of the home buying process, was more than willing to answer any and all of my questions, and kept me abreast of all developments.
SAYING 5
lana@lanamccurdyhomes.com | 256.996.4179 | www.hollandhomesllc.com Buyer Promise Because I believe in empowering you to be an educated buyer, I will: • Review your buyer representation choices before presenting you with a buyer representation agreement • Give you the most vital and up to date information on available homes • Keep you aware of changes in the real estate market • Provide neighborhood information • Collect pertinent data on values, taxes, etc. • Explain forms, contracts, negotiation and settlement procedures Because I believe your time is valuable, I will: • Meet with you in order to learn about your “needs” and wants” • Provide ready access to all MLS listed properties • Help you select homes to view that fit your needs • Show you only homes within your stated budget • Arrange for necessary property inspections Because I believe in and am committed to bringing you value, I will: • Perform a market analysis on chosen properties • Advise on offers on properties (if under buyer agency) • Write and negotiate your purchase agreement to the seller • Negotiate on your behalf (if under buyer agency) Because I believe in relationships and customer service, I will also: • Monitor and inform you about progress from contract to closing • Return every phone call, text, and email within reasonable time • Follow up with you after closing to see if you have any issues or service needs • Maintain periodic contact and be available to update you on market values Agent Signature:______________________________ Date:__________________ 6
HAVING A PROFESSIONAL MAKES A DIFFERENCE 7
Here are just some of the reasons you need a real estate professional in your corner:
What Is the Home You're Selling Worth in Today's Market?
Dave Ramsey, the financial guru, advises:
In today’s market, hiring a talented negotiator could save you thousands, even tens of thousands of dollars. Each step of the wayfrom the original offer, to the possible renegotiation of that offer after a home inspection, to the potential cancellation of the deal based on a troubled appraisal - you need someone who can keep the deal together until it closes.
“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”
There are over 230 possible steps that must take place during every successful real estate transaction. Determining your price, submitting an offer, and successful negotiation are just a few key parts in the process. Don't you want someone who has been there before?
Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear. Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in your way of achieving them. Buying or selling a home is definitely not something you want to do yourself!
There is so much information out there in the news and on the Internet about home sales, prices, and mortgage rates. How do you know what’s specifically going on in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much or offending the seller with a lowball offer?
Someone who knows what the actions are to ensure you achieve your dream?
Bottom Line Today’s real estate market is highly competitive. Having a professional who’s been there before to guide you through the process will give you a huge advantage.
You Need a Skilled Negotiator
There’s More to Real Estate than Finding a House You Like Online
What features are on your list that you could compromise on? Are hardwood floors a must-have or a “would like to have”? Things like paint colors and flooring can easily be changed compared to floorplans and bedroom sizes. Re-write your top 3 :
After writing out your lists of musthaves and deal-breakers, go back and circle the things that can’t be changedthe lot size, location, the school district, the distance to work, layout, etc. The things that can’t be changed should be your top priorities.
After circling the must-haves that can’t be changed and eliminating some of the “want to haves” that aren’t your #1 priority, re-write your list of top 3 musthaves and top 3 deal breakers. Before writing an offer, make sure those 3 priorities have been met!
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YOUR NEXT STEPS:
Focus here :
Be flexible here :
lana@lanamccurdyhomes.com | 256.996.4179 | www.hollandhomesllc.com 10 YOUR SAY YES TO THE ADDRESS WORKSHEET: MUST-HAVE FEATURES DEAL BONUSBREAKERSFEATURES
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The interest rate you pay to borrow money to buy your house. The lower the rate, the better.
DO
APPRAISAL
A number ranging from 300-850, that is based on an analysis of your credit history. Helps lenders determine the likelihood that you’ll repay future debts.
An individual who provides services in buying & selling homes. Real estate professionals are there to help you through the confusing paperwork, find your dream home, negotiate any of the details that come up, and to help you know exactly what’s going on in the housing market. YOU KNOW HOME BUYING LINGO?
PRE-APPROVAL
CREDIT
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REAL ESTATE PROFESSIONAL
LETTER
To start your home buying path with confidence, I have compiled a list of common terms used when buying a home.
MORTGAGE RATE
A professional analysis used to estimate the value of the home. A necessary step in validating the home’s worth to you & your lender to secure financing. SCORE
A letter from a lender indicating that you qualify for a mortgage of a specific amount.
lana@lanamccurdyhomes.com | 256.996.4179 | www.hollandhomesllc.com EARNEST MONEY This is money paid at the time of contract to secure the contract. The amount will depend on the price of the house. Builders often have minimum builder deposit requirements that are not negotiable. HOME INSPECTION All inspections are at the expense of the buyer. The typical home inspection ranges from $350-$500, but can be more depending on the size of the home. DOWN PAYMENT This is the minimum investment that is required to purchase your new home. Down payments are typically 3-20% of the purchase price of the home. 0% down programs also exist, ask your lender for more information. CLOSING COSTS The cost to complete the real estate transaction that are paid at closing. Ask your lender for a complete list of closing cost items. They often include: • Government recording costs • Appraisal fees • Credit report fees • Lender origination fees • Title services • Prepaid taxes, insurance, and interest • Underwriting fees PREPAID ITEMS Property taxes, insurance, and prepaid interest that are paid upfront. These items are included in your closing costs. THE COST OF PURCHASING A HOME 12
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YOU FOUND THE ONE - LET’S WRITE AN OFFER
Be prepared to negotiate with the sellers. They may counter our offer on price, closing date, inclusions, etc. From here we will determine our next steps and process accordingly.
Set up a Zoom or in-person meeting so we can establish your specific plans. This includes getting your pre-approval, talking about your goals, timelines, home search criteria, deal-breakers, and must-haves.
You will be set up on a digital home search based on the criteria discussed at your initial consult. From there, we will coordinate in-person or virtual showings based on listings you are interested in that match your criteria.
The Home Buying Breakdown
Meet with your preferred lender (or chose one from the list in this guide!) to determine your budget and get pre-approved for a home loan. Doing this first thing will make sure we are viewing properties that are within your price range and a pre-approval letter shows that you are a ready and able buyer!
DIGITAL HOME SEARCH AND HOME TOURS
MEET WITH LENDER
First, we need to talk strategy. Are there other offers on the table? How long has the home been on the market? How does the list prices compare to other homes in the area? What can we do to accommodate the sellers? Together we will put together a strategic offer. We will review the contract then use digital signatures to sign the offer.
POSSIBLE NEGOTIATIONS
MEET YOUR REALTOR & ESTABLISH YOUR PLAN
Use a recommended inspector (see a full list in this guide!) or choose your own. They will coordinate a date and time to do your in-person home inspection and share a digital report following the inspection.
Between now and closing is when we will need to make sure all contingencies in the offer have been satisfied. If there were repairs required from the home inspection, a home sale contingency on your end, other inspections being done, etc. Once these are completed we are almost there!
YOUR OFFER IS ACCEPTED - YAY! HERE’S WHAT’S NEXT
It is finally the closing day! Time to sign all the official paperwork and get the keys to your new home! Plan to arrive at our scheduled place of closing on time and with a check in the amount determined by your lender. Bring Photo IDs and plan to be here for about 45 minutes. Once you leave the closing table, the home is officially yours! | www.hollandhomesllc.com
All offer documentation will be forwarded to your lender. You will submit your earnest money to the sellers, start your loan application, and schedule your home inspection. You will receive a timeline of dates and deadlines along with weekly updates to keep you on track and in the loop.
Once your contingencies have been satisfied and your financing has been approved, you will receive your final loan commitment and clear to close from the lender. Our final step prior to close is to schedule a walk-through of the property. We will want to go through and make sure everything is as agreed upon with the sellers.
The Home Buying Breakdown, Cont.
SATI SF Y ANY REMAINING CONTINGENCIES
LOAN COM MITMENT AND FINAL WALK THROUGH
lana@lanamccurdyhomes.com | 256.996.4179
SCH EDULE YOUR HOME INSPECTION
CLOSIN G DAY, KEYS AND CELEBRATION
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Current and Previous Addresses - If you own a home you will need the property address, current market value, mortgage lender name, account number, current monthly mortgage payment and outstanding balance. If you rent, you will need the property address, name and address of the landlord, the current monthly rent, and previous address/landlord. You will need information about your former addresses if you’ve lived in your current address for less than two years.
Social Security Number and Birth Date - Required of you and any co-borrowers.
Personal Property - Value of personal property including life insurance face value, employee retirement accounts, furniture, cars, jewelry, coins, and other valuable property.
Employers - The names, addresses, and telephone numbers of your employers for the past two years.
Accounts - You will need the account numbers and current balances of your checking account, savings account, money market account or any other accounts you may have.
Before you go out and look at homes, you need to get preapproval from a lender. The worst possible situation is to find your dream home, but find out later that you can’t get qualified to buy it. All lenders differ on what they need from their borrowers. This list is intended to give you a general idea of what will be required at the time of mortgage application. Please check with your lender for a complete list of necessary information.
Sales Contract - Bring along a signed copy of that agreement and any amendments to it.
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MORTGAGE APPLICATION CHECKLIST
Paycheck - Your most recent pay stub showing year-to-date earnings.
Current Assets - Current assets such as IRA’s, CD’s, stocks, bonds or securities. Your lender may require a current brokerage statement with name of the stock, amount per share and number of shares owned.
W-2 Tax Forms - The lender will require 2 years W-2’s and accompanying tax forms.
Liabilities - For each loan, provide the lender with the name and address of each creditor and include both the monthly payment and total amount due. Liabilities will include auto loans, student loans, credit cards and other installment debt.
MORTGAGE Will Phone:CMGGoldenMortgage334-744-5485 wgolden@cmgfi.com Christy K Truitt Bancorp South Phone: bbryant@auburnbank.comPhone:AuburnBarryJane.perry@fcloans.comPhone:FirstJaneafolta@guildmortgage.netPhone:GuildAaronChristy.truitt@bxs.com334-319-2700FoltaMortgage334-750-8189PerryChoice334-750-5200BryantBank334-524-5835 HOME INSPECTION Tim TWCWhiteHome Inspections Phone: 334-319-0211 Richard Spencer House Master Phone: comRichard.spencer@housemaster.334-728-4497 PROFESSIONAL VENDORS Please note, you are welcome to choose any vendors that you feel comfortable with and this list is just to serve as a reference for vendors that I have personal experience with. There is no requirement to use any of the vendors on this list. Andrew Barber Eagle Inspection Services Phone: eagleinspectionsauburn.comabarber@334-728-2137 INSURANCEHOMEOWNER’S Drake Martin Phone:Alfa 334-745-6304 William Murphy Phone:Alfa Rprewett1@allstate.comPhone:PrewettRustyPhone:StateKathyWMurphy@alfains.com256-777-6807PowellFarm334-501-8245PrewettAllState334-502-5111 MOVERS Two Men and a Truck Phone: 334-3164014 Bolt Phone:Movers334-521-2092 UTILITIES Opelika Water Works Phone: information@owwb.com334-705-5500 Opelika Power Services Phone: www.charter.comPhone:CharterPhone:Auburnwww.auburnalabama.org/wrmPhone:Auburnwww.spireenergy.comPhone:Spirewww.alabamapower.comPhone:Alabamawww.opelikapower.com334-705-5170Power800-245-2244(ALAGASCO)800-292-4008WaterBoard334-501-3050TrashPick-Up334-501-3080Communications877-728-3121 WOW! Internet.Cable.Phone Phone: 334-521-7000 SURVEYORS Precision Surveying Phone: 334-821-0105 lana@lanamccurdyhomes.com | 256.996.4179 | www.hollandhomesllc.com 16
BUYER QUESTIONNAIRE Name: ___________________________________________________________________________ PhoneAddress:Number(s): ________________________________________________________________ Email Address: ___________________________________________________________________ Preferred Communication: Call Text Email Describe your ideal location: ______________________________________________________ Number of Bedrooms: ___________________ Number of Bathrooms: _________________ Describe any other required features (e.g. bedroom downstairs, yard, basement, fireplace, pool, etc.) _________________________________________________________________ When are you looking to move into your new home? Have you viewed any other homes? Yes No Currently, do you: Own Rent Must Sell to Purchase Ideal Price: ___________________________________________ Pre-Approval: Yes No If yes, with whom? 17
256.996.4179 www.hollandhomesllc.com lana@lanamccurdyhomes.com @lanamccurdyhomes @lanamccurdyhomes
