The Home Buyer Guide
The Berkshire Hathaway HomeServices Difference We are proud to lead the way in marketing and technology, however this innovation is not what defines us. Our unparalleled value is in each one of our sales associates and their industry knowledge, professional experience and commitment to building a relationship with you that far outlasts the closing table. Berkshire Hathaway HomeServices is the forever brand. Our team members are local experts, community activists, liaisons, advisors and often times a friendly ear to listen. We earn trust by partnering with you to achieve your goals and look forward to the opportunity to help you thrive in the communities we serve or wherever life takes you.
Home Buying Process The buyer experience begins and ends with you. I will serve as your professional consultant to guide you through this transition, and any future real estate needs. I am dedicated to streamlining the experience so you can focus on the demands of daily life.
1. Initial Consultation 2. Financing 3. Finding the Right Home 4. Making an Offer 5. Negotiations 6. From Contract to Settlement 7. Closing 8. Beyond Closing
INITIAL CONSULTATION Determine criteria — needs, priorities, urgency Discuss financing options and the process for finding the right property
FINANCING Introduction to our Home Mortgage Consultant Complete the pre-approval process
Home Loan Document Checklist USE THIS HELPFUL CHECKLIST TO GATHER DOCUMENTS FOR YOUR HOME LOAN. Income Information
□ 3 0 days’ most recent pay stubs with year to date information for all jobs and for each borrower. □ F ederal tax returns for the 2 most recent years (1040s) -2 or 1099 forms for the 2 most recent years □W □ R etirement and/or social security income award letter ritten explanation if employed less than 2 years or gap in employment in the last 2 years □W Credit Information
ost recent 2 months asset statement listed on the application — all pages to each statement even □M if blank (Example: checking account, savings account, CDs, money market accounts, IRA, 401k, etc.)
□ I f applicable: credit explanation letter for any late payments, collections, judgements or other derogatory credit items
□ D ocumentation for any large deposits outside payroll or gift fun deposits shown on asset statements □ I f applicable: previous payments for alternative credit sources Special Information, if applicable
□ L ast 3 years’ complete Federal tax returns (both personal & business returns) □ Y ear-to-date profit and loss statement □ L ist of all business debts Other Information
□ R eal Estate Agent Information (if applicable) Agent name: ___________________________________ Contact Number:_______________________________
□ H omeowner’s Insurance Information Agent name: ___________________________________ Contact Number:_______________________________
□ A dditional:___________________________________________ □ A dditional:___________________________________________ This list is only to be used as a guide.
Carolinas.phmloans.com
FINDING THE RIGHT HOME Review various neighborhoods and areas to identify those that match your criteria Begin home showings to find your perfect home
MAKING AN OFFER Review of disclosures and property information to make an informed decision Review comparable sales and market conditions to determine offer price Be prepared with your preapproval letter, due diligence fee, and earnest money deposit
NEGOTIATIONS Offer is delivered to listing agent for presentation to the seller Seller responds (Acceptance, Rejection, Counter) Offer becomes a binding contract once all parties have signed and communicated
FROM CONTRACT TO SETTLEMENT Monies referenced in offer are delivered
Arrange for movers and utility transfers
Property appraisal is conducted
Review Closing Disclosure and arrange
as part of the loan approval process
for monies to be delivered for settlement
Schedule closing attorney
Conduct your final walk-through of property
Select Title Insurance policy and secure
Attend settlement
homeowner’s insurance Schedule inspections as requested on Professional Services Disclosure and Election form
CLOSING Closing attorney records deed Receive keys to your new home!
BEYOND CLOSING At Berkshire Hathaway HomeServices Carolinas Companies we are committed to building last relationships based on trust and care. I will continue to be a resource for you by providing annual real estate reviews and recommendations for service providers. I also look forward to assisting your friends and family.
Estimate of Costs ESTIMATED CLOSING COSTS Property Inspections:
$ _____________________________________________
Home, Radon, Septic, Well, Termite
Survey:
$ _____________________________________________
Title Insurance:
$ _____________________________________________
Homeowner’s Insurance:
$_____________________________________________
Home Warranty:
$ _____________________________________________
Attorney Fees:
$ _____________________________________________
Brokerage Fees:
$ _____________________________________________
Recording Fees:
$ _____________________________________________
Costs Associated with Loan:
$ _____________________________________________
Mortgage consultant will provide estimate
Appraisal:
$ _____________________________________________
Termite Inspection:
$ _____________________________________________
Escrow Deposit:
$ _____________________________________________
Reserve for HOA dues, taxes, PMI, etc
Other:
TOTAL CLOSING COSTS:
$ _____________________________________________
$ _____________________________________________
This should be used as a checklist for informational purposes only and are not to be construed as actual closing figures. A final, detailed breakdown will be made available before closing.
Smooth Transition to a New Home 4 WEEKS BEFORE MOVING • Contact and contract with a reputable moving company. • Have school records transferred. • Arrange to transfer or transport medical, dental, and other important records. • Transfer homeowner’s and auto insurance to be sure of continuous coverage. • Hold a garage sale, donate unneeded items, and place excess items in storage. • Keep track of moving-related expenses, and see what expenses are deductible.
3 WEEKS BEFORE MOVING • Obtain and mail change-of-address cards to the post office, subscriptions, credit card companies, and important contacts.
2 WEEKS BEFORE MOVING • Arrange for final utility readings at the former residence the day after moving out, and have utilities and phone turned on at the new home the day before moving in. • Close, update or transfer bank accounts. • End or transfer newspaper delivery service. • Arrange for transfer of vehicle licenses and drivers’ licenses. • Have an extra supply of prescription medications for the next four weeks. • Schedule a final walk-through of the property; make sure everything is in order.
MOVING WEEK • Keep valuable financial records and personal papers on-person; do not pack them with the rest of the household goods. • On closing day, the home purchase documents are recorded an the home is now yours. • Move in.
AFTER MOVING IN • Consider plans for landscaping design, installation, and maintenance. • Review home security requirements and systems. • New home furnishings, appliances, and interior decorating will make the house a home.
Our Complete Suite of Home Services
“
Berkshire Hathaway wants to be in businesses that are enduring. Real estate brokerages will be around 100 years from now and HomeServices of America will be around 100 years from now. We love that HomeServices is part of Berkshire Hathaway and we would love to see it grow a lot. — Warren Buffett Chairman and CEO Berkshire Hathaway, Inc.
Relocation Services
HomeServices Insurance WHO WE ARE We are one of the largest personal lines insurance agencies in the country offering a simplified insurance experience. By working with the most financially secure insurance carriers we are able to provide our clients with the most competitively priced products specifically tailored to their individual needs.
WHY WE ARE HERE We are here to make the insurance process as easy as possible for our clients. We shop their insurance for them to find coverage tailored to their specific needs all while providing them the highest level of customer service.
OUR INSURANCE COMPANIES • AIG • Chubb • Progressive • Travelers • Universal Property • And More!
AVAILABLE COVERAGE • Homeowners • Automobile
336-000-0000
• Umbrella
email@homeservices-ins.com
• Jewelry, Fine Arts, Collectibles
www.website.com
• Recreational Vehicles • And More!
HomeServices Insurance is a subsidiary of HomeServices of America
Title Insurance At real estate closings, the lender, if any, requires a title insurance policy (Loan Policy) to ensure that the lender’s interest in the property is protected. To protect your investment and ownership in the property, you also need a title insurance policy (Owner’s Policy). There are no annual payments to keep the policy in force. A one-time fee at the real estate closing protects you against a wide variety of risks to the title of your property. As part of a seamless transaction for our clients, we are pleased to offer title insurance through our wholly-owned title insurance company, Attorneys Title. Attorneys Title has provided title insurance to North Carolina homebuyers for over 35 years. As an agent of First American Title, Commonwealth Land Title and Chicago Title insurance companies, our experienced staff and legal team are prepared to handle all of your title insurance needs. We have access to over 2 million prior policies and provide a reissue rate when applicable, to help ensure you are getting the best price for your title insurance. To take advantage of our streamlined process, simply indicate to the attorney of your choice that you designate Attorneys Title as your title insurance provider.
(800) 222-4502 AttorneysTitle.com Orders@AttorneysTitle.com
Strength, Trust, & Integrity Berkshire Hathaway Inc. is a worldwide holding company based in Omaha, NE. Its Chairman and CEO is Warren Buffett and according to Time magazine’s ranking, among the world’s most influential people. “When people are making the decision of the magnitude of buying a house, it’s the biggest decision a great many families will ever make. They want to know who they’re working with and we think that the Berkshire Hathaway name will be reassuring to many of those people,” says Buffett. Berkshire Hathaway HomeServices Carolinas Companies benefits from a globally respected reputation and a sound financial foundation. Our roots are local, and our reach is global. We thrive on helping buyers and sellers find their perfect home whether around the corner or across the globe.
Ranked #6 on Fortune’s 2021 list of World’s Most Admired Companies
Ranked by Real Trends as #1 Real Estate Company and Home Services Provider in America
Our Promise BEYOND OUR NAME THERE ARE CERTAIN QUALITIES THAT DEFINE US – TRAITS, PRACTICES, VALUES. Exceed
Build
expectations for exemplary service
lasting relationships based on trust and care
and professionalism in everything we do.
with our clients and the communities we serve.
Partner
Redefine
with our associates to create an environment
the home buying, selling, and owning
that fosters success and meaningful careers.
experience by integrating all the elements of the transaction into a seamless real estate experience.
Unsurpassed Service IN EVERY MAJOR MARKET IN NORTH CAROLINA AND UPSTATE SOUTH CAROLINA
Greater Charlotte
Triangle
Lake Norman | SouthPark | Ballantyne
Raleigh | Durham | Cary | Chapel Hill
Triad
Pinehurst
Winston-Salem | Kernersville |
Pinehurst | Southern Pines
Greensboro – Elm Street | Greensboro – Adams Farm | Greensboro – Friendly Center
© 2022 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate.