Buyer Guide FIRST TIME HOME NAVIGATING THE HOME BUYING PROCESS TO CLOSE ON YOUR DREAM HOME
About your agent
KATIE TRENEROWSKI Real Estate Specialist
I am a graduate from Brigham Young University with a degree in both Mathematics and Art History. I have been fortunate enough to travel the world and lived abroad in both Poland and Israel. I absolutely love meeting new people and immersing myself in new customs and cultures. In my prior professional life, I worked in commercial real estate banking and have a strong knowledge of loan underwriting and loan modification. This introduced me to another side of the business that I know will bring value to my
future customers I decided to become a realtor after having been on HGTV’s House Hunters featuring Winston-Salem. This was an amazing experience and helped me realize I wanted to be in this industry. When I’m not chasing three kids, you can find me playing the piano, trying not to kill my garden, or reading a good book!
STEP ONE
Pre-approved GETTING
One of the biggest mistakes first time homebuyers make is starting their home search without connecting with a lender first. Here's why you might find the perfect home and then face major disappointment when you find out you do not qualify to buy it. This can be a huge let down and a major waste of your time. Connecting with an experienced lender will not only help you discover what you qualify for, but they will also make sure you do not have any red flags that would stop your from getting a home before you invest your nights and weekends house hunting.
01
WHAT THINGS WILL YOUR LENDER ASK FOR?
will
to help you get
for your
for: Bank Statements Tax Returns Pay Stubs Credit Reports Monthly Debts
There are many things that your lender
review
pre-approved
next home. Here's a couple things they may ask
My Recommended Lender
ANDI LENTZ
Mortgage Consultant NMLS # 1373510 Office: 336-774-2385 Cell: 336-650-2499
Andi.Lentz@phmloans.com www.phmloans.com
Andi is an expert at what she does and was able to present different options to us, as well as give us clear explanations when needed We also appreciated her promptness and follow ups to phone calls and emails.
Andi and her team were very responsive and kept me informed every step of the way. This was absolutely the smoothest mortgage transaction I have ever experienced. Thank you, Andi!
12 Mortgage Mistakes TO AVOID DO NOT QUIT YOUR JOB, CHANGE JOBS, OR BECOME SELF-EMPLOYED DURING THE CLOSING PROCESS DO NOT BUY A CAR DO NOT CHANGE BANKS DO NOT SPEND ALL OF YOUR SAVINGS DO NOT MAKE BIG CREDIT CARD PURCHASES DO NOT GET BEHIND ON YOUR BILLS 1 2 3 4 5 6 DO NOT CO-SIGN ON A LOAN FOR ANYONE DO NOT IGNORE THE LENDER'S REQUIREMENTS DO NOT APPLY FOR NEW CREDIT CARDS DO NOT LEASE A NEW CAR DO NOT BUY FURNITURE BEFORE CLOSING DO NOT MAKE UNUSUALLY LARGE DEPOSITS TO YOUR ACCOUNT OUTSIDE OF YOUR PAYCHECK 1 2 3 4 5 6
02 STEP TWO House Hunting
WISH LIST
NEEDS WANTS
SHOPPING FOR HOMES
1. We will set you up on an MLS search or you can search through popular websites.
2 Any home of interest we will schedule to go and see. Sometimes we may have to wait for the seller to accept our showing request.
3. Once you find a home that you want to make an offer on, I will run comps to make sure that the home will appraise for our offer amount
4 Make an offer
03 STEP THREE Making an Offer Due Diligence – This is money you are giving directly to the seller to
their
market for you to
your inspections and “due diligence.” If you purchase
money is credited
you walk away,
any reason, the sellers
this money Earnest Money – Similar to due diligence money However, if you walk away during the due diligence period you will receive your earnest money deposit back After the due diligence period, the money will either be a credit at closing, or go to the seller if you walk away Financing – This is what type of loan you are using (Conventional, FHA, VA, etc) or if you are purchasing the home with cash In either case we will include a pre-approval letter or a proof of funds (cash) OfferAmount DueDiligenceAmount EarnestMoneyAmount DueDiligenceDate(InspectionPeriod) TargetClosingDate Financing Whatappliancesdoyouwanttostay? Doyouneedaclosingcostcreditfrom thesellers?Ifso,howmuch? Wouldyoulikeahomewarranty?Ifso, wouldyouliketopayforit?Orwould youlikethesellerstopayforit? There are typically 9 things I need to know for you to make an offer: TERMS TO KNOW:
take
home off of the
do
the home, this
However, if
for
get to keep
©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 (801) 836-2991 KatieTrenerowski@BHHSCarolinascom @katietrenerowskirealesate fb.com/KTrenerowski