HOME BUYERS GUIDE
BUYING A HOME DOESN'T HAVE TO BE STRESSFUL
MELANIE PIPES I am happily married with 2 sons and 2 labs. We reside in Trinity, NC. On most weekends you will catch us on a baseball field or basketball court watching our boys play. When we have time, we love traveling.
I am a proud Veteran of the United States Navy. I served 4 years as a H-46 Helicopter mechanic on North Island in San Diego, CA. After the military, I was in medical administration for 20 years spending my last 16 years as a Certified Radiology Medical Coder. I love Real Estate because I love helping people fulfill their dreams!
REALTOR574MELANIE@YAHOO.COM MELANIEPIPES.BHHSYOSTANDLITTLE. COM
@574MELANIE
FACEBOOK.COM/574MELANIE
MELANIE PIPES REALTOR
Realtor®
process
HOME BUYING DETERMINE HOW MUCH YOU CAN AFFORD Lenders recommend homes with a cost no more than 3-5x times your annual household income.
TOUR HOMES Make a list of all the things you need and want in a new home. Including number of bathrooms, bedrooms, size and neighborhood.
EARNEST MONEY DEPOSIT Talk with your Agent about how much Ernest money you will be putting down. Ernest money is money promised to buy a home. This will vary depending on what type of market. This will be due within 24 hours of going under contract.
GET PRE-QUALIFIED If you need financing get pre-approved by a lender. For preapproval, your lender will need W-2's, paystubs, bank account statements and a credit check.
MAKE AN OFFER Once you've found the home you want, the next step is to make an offer.
NEGOTIATE Many times after the initial offer is presented the owner will come back with a counter-offer. Let your agent help you make an appropriate counter-offer.
FIND THE RIGHT REAL ESTATE AGENT Real estate agents can provide you with helpful information on homes and neighborhoods through the Local MLS..
DUE DILIGENCE FEE Talk with your agent about how much of a Due Diligence Fee you are willing to put down. This will vary depending on the type of market and home purchase price . This will be due within 24 hours of going under contract.
INSPECTION(S) Your due diligence fee will come with a time period the seller takes the home off the market and allows you any inspections you deem necessary. The buyer is responsible for the cost of these inspections.
process
HOME BUYING HOME INSPECTION A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home.
Wood Destroying Insect Inspection A wood destroying pest inspection is a thorough examination of a property to determine if there are visible signs of wood destroying insects.
RADON Testing The EPA recommends that all houses be tested for radon levels during the point of sale. Radon is a radioactive gas that has been found in homes all over the United States.
DUE DILIGENCE REPAIR REQUEST After your inspections are complete we will negotiage with the seller any repair concerns found on inspections.
APPRAISAL The lender orders the appraisal, title search and final financing is set.
UTILITIES Prior to closing, you should change all utilites into your name.
FINAL WALK THROUGH You should complete a final walk through with your agent a day or two prior to closing to make sure the home is left in the order it was originally presented in and to check for any outstanding items.
CLOSING Time to sign the papers and pop some bubbly! Congratulations on your new home!
HOME TOURING
Tips
On a house tour....
MP
Take photos with your phone while visiting each house. Organize the photos at home with the address of the property so you can remember details later.
What to bring...
Focus on the positive things this home and neighborhood can provide.
Your agent! Your agent is your #1 resource when house shopping. Bring them on tours so they can help you navigate this step of the home-hunting process. Pen and paper. You’ll want to take notes during your tour so you can reference them later, especially if you have plans to see multiple properties. Measuring tape and measurements. You need to know exactly how much space you have to work with in any new home you may choose. A dream home will quickly become a nightmare if things don’t fit inside it!
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DUE DILIGENCE FEE AND
Earnest Money Deposit DUE DILIGENCE FEE
The due diligence fee essentially compensates the seller for taking their home off the market while the buyer completes their inspections. A time period to conduct inspections comes along with the due diligence fee and this is outlined in the sales contract or purchase agreement. The due diligence fee is delivered when the sales contract or purchase agreement is signed by both parties. When the due diligence fee check is submitted, the check is cashed right away by the seller.The due dliigence fee is applied to your purchase price if you purchase the home, however if you terminate the contract the DUE DILIGENCE FEE IS NON REFUNDABLE. EARNEST MONEY DEPOSIT
Earnest money is a deposit made to a seller that represents a buyer's good faith to buy a home. The earnest money is delivered when the sales contract or purchase agreement is signed by both parties. Once deposited, the funds are typically held in an escrow account until closing, at which time the deposit is applied to the purchase price of the home. The Earnest money deposit can be returned to the buyer if the contract is cancelled within the due diligence period.
SIGNED DOCUMENTS
NeededBefore offer can be submitted WORKING WITH REAL ESTATE AGENTS BROCHURE
This Brochure addresses the various types of agency relationships that may be available to you and useful information about the various real estate services. BUYERS AGENCY AGREEMENT
A buyer's agency agreement is a written contract between a home buyer and a real estate agent that defines how the two agree to work together. RESIDENTIAL PROPERTY AND OWNER'S ASSOCIATION DISCLOSURE
NC requires the seller of residential real estate to complete a form known as the Residential Property and Owners' Association Disclosure Statement—disclosing conditions and defects with the property. The buyer signs this disclosure showing they received a copy of this prior to submitting thier offer. MINERAL OIL& GAS RIGHTS
Disclosure requires all sellers of existing homes in NC to disclose whether the mineral, oil and gas rights for the property are owned by someone other than the seller. LEAD BASED PAINT ADDENDUM The lead-based paint disclosure form is a required form to be issued to all tenants and potential buyers for residential properties built before 1978. ... The forms were written to warn any new owners or tenants of the potential existence of this within the interior walls of the residence.
an offer MAKING
Now is the exciting time! When you are ready to write an offer, I will walk you through the contract. It is important to write a fair offer or you can run the risk of the seller not responding or even losing the property to another buyer making an offer. Here are the steps:
HOW TO MAKE
a great offer
• Write the Offer • Negotiate the Offer • Satisfy Conditions
Submit a Pre-approval Letter with your Offer Write a Competitive Offer Put your Best Foot Forward Put Down a Healthy Due Diligence Fee Put Down a Healthy Earnest Money Deposit Shorten Inspection Periods Offer to Close Quickly
HOME
inspection OUR MISSION STATEMENT
A home inspection is a visual assessment of a house's physical structure and mechanical systems, including the roof, ceilings, walls, floors, windows and doors.The inspector will check that major appliances are functional, scrutinize the heating and airconditioning system, examine the plumbing and electrical systems and may even poke around in the attic and basement.The goal of a home inspection is to uncover issues with the home itself. Inspectors won’t tell you if you’re getting a good deal on the home or offer an opinion on the sale price. The home inspection happens after the seller has accepted your offer but before the purchase is complete. To provide enough time for additional inspections or for negotiations with the seller, you'll want to schedule a home inspection as soon as possible once you're under contract. You should allow at least seven to 10 days in the homebuying process to take care of the inspection. As the buyer, it is your responsibility to hire the home inspector. Even if the seller offers to share their home inspection report or claims the house is pre-inspected, you'll want to arrange your own inspection so you can vet the inspector yourself. Home inspectors aren’t federally regulated, and they’re not even licensed in all states. Seek recommendations from friends and colleagues, and search the databases of professional associations, such as the American Society of Home Inspectors and the International Association of Certified Home Inspectors 574-MELANIE |realtor574melanie@yahoo.com
MELANIE PIPES
Realtor
HOME
appraisal A home appraisal is a licensed or certified appraiser’s opinion of a home’s value. The appraisal is based on research of recent sales of comparable homes in the area, an analysis of the property and the appraiser’s judgment.The mortgage lender requires an appraisal to help gauge risk of making a loan. The property serves as collateral in case the borrower defaults, so the lender wants to make sure the loan isn’t too big, compared with the property’s value. An appraisal is an assessment of home value. The appraiser considers the home’s condition as part of the analysis of how much the property is worth, as well as other factors, such as the local housing market. The appraiser doesn’t make recommendations for repairs.
574-MELANIE | realtor574melanie@yahoo.com
MELANIE PIPES
Realtor
closing
A FEW THINGS TO BRING TO CLOSING A valid government issued photo ID Cashier's check for the total amount due Outstanding documents for the title company or
THE CLOSING PROCESS FINALIZES THE PURCHASE OF YOUR HOME AND MAKES EVERYTHING OFFICIAL. ALSO KNOWN AS SETTLEMENT, THE CLOSING IS WHEN YOU RECEIVE THE DEED TO YOUR HOME. PRIOR TO CLOSING, YOU SHOULD CHANGE ALL UTILITIES INTO YOUR NAME, AND COMPLETE A FINAL WALK THROUGH TO CHECK FOR ANY OUTSTANDING ITEMS.
mortgage loan officer
WHAT TO EXPECT The closing attorney will look over the purchase contract to: identify what payments are owed and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title searches, real estate commissions and other closing costs are paid; ensure that the buyer's title is recorded; and ensure the seller receives any money due.
YOUR COST Some of the most common fees include: Escrow fees Recording and notary fees, if applicable Title search and title insurance Origination, application and underwriting fees from lender Appraisal fees Local transfer taxes Homeowners Insurance Home Owners Association fees, if applicable SIDs and/or LIDs
AFTER CLOSING Make sure to keep copies of all closing documents for tax purposes.
REAL ESTATE
Terms APPRAISAL
CLOSING COSTS
APPRECIATION
A determination of the value of something, in this case, the house you plan to buy. A professional appraiser makes an estimate by examining the property, looking at the initial purchase price, and comparing it with recent sales of similar property.
All settlement or transaction charges that home buyers need to pay at the closing when the property is transferred.
Increase in the value or worth of an asset or piece of property that's caused by external economic factors occurring over time, rather than by the owner having made improvements or additions.
MLS
ZONING
CONTINGENCY
A computer-based service, commonly referred to as MLS, that provides real estate professionals with detailed listings of most homes currently on the market.
The local laws dividing cities or counties into different zones according to allowed uses, from single-family residential to commercial to industrial. Mixed-use zones are also used. Zoning ordinances control size, location, and use of buildings within these different areas and have an effect on traffic, health, and livability.
A provision in a contract stating that some or all of the terms of the contract will be altered or voided by the occurrence of a specific event, usually by specific dates leading up to the closing.
ESCROW
HOME INSPECTION
TITLE
An examination of the condition of a real estate property. A home inspector assesses the condition of a property, including its heating / cooling systems, plumbing, electrical work, water and sewage, as well as some fire and safety issues.
Ownership of real estate or personal property. With real estate, title is evidenced by a deed (or other document) recorded with a county's Register of Deeds office.
The holding of funds or documents prior to closing your home sale. This is typically done by the Closing Attorney or Listing Firm.
CUSTOMER
Testimonials
I highly recommend Melanie! We moved to NC from Oregon without actually coming here to see the property. Melanie took all the steps necessary to make us comfortable with our purchase. She even worked with contractors after the sale to get the house ready for our arrival. She is definitely a top-rate agent in our opinion.
JEANNIE AND RALPH DENNARD
Melanie has been exceptional, very personal and professional at the same time. Melanie has made sure our home buying experience has been seamless. Every call and question was answered. Has been a pleasure for Mendy and I to work with her and have enjoyed the process.
DALLAS AND MENDY SIMS
Melanie assisted me and my family every step along the way during our home search. She has made herself available to show houses and answer any questions in a very prompt and professional manner. She is not pushy which puts her in a class of her own within the realm of real estate professionals. I would not hesitate for a second to recommend her to friends, family or complete strangers. Thank you Melanie for everything!
NATHAN FRAME