NATALIE SUÑER b r o k e r
a s s o c i a t e
BUYER GUIDE Modern Real Estate 303-597-8907 nsuner@gmail.com
home Sweet home
THANKS From the bottom of my heart, thank you for considering me to help you purchase your next home. If you haven’t purchased before, the process can seem quite daunting. It is a big decision that requires careful decision-making. As you weight out your options, it’s important to have someone in your corner that can give you insight about pricing strategies, market knowledge, and negotiations. The information in this Guide will give you an idea of what to expect when working together and some tips to help you along the way because this journey should be fun! Please read this thoroughly and let me know if you have any questions.
Natalie
about this guide 1 2 3 4
About me
Buyer’s dilemma The process FAQs
ABOUT MY STORY
I’m a bilingual native of Miami, FL - the daughter of immigrant parents from El Salvador who paved the way fixing, flipping, and managing properties so my brothers and sister could have better. Growing up with parents in real estate introduced me to the business early-on. I graduated from Florida State University with a Bachelor’s December 7, 2016of Science and Master’s in Urban Regional Planning. During undergrad, I became a licensed realtor in Florida, initially to negotiate and protect my own interests. After moving to Colorado and experiencing the market first-hand, I found a real passion for the profession and am now proud to bring that same experience, knowledge and advocacy to all of my clients. Whether you’re looking for your next home or an investment property, contact me if I can support you along the way.
V A L U E S.
I pour everything into my clients - my goal is to provide them with the resources and guidance needed to make informed-decisions about the next investment. I am not just a real estate agent, I am a tough negotiator backed by sales, pricing strategies, and market knowledge.
Perfect Fit Honesty + Transparency Market Knowledge
BUYER’S MINDSET
Buyers often worry about the following: 1. Paying too much 2. Something being wrong with the house 3. Losing a property 4. Better property coming up
As a buyer, you are in the driver's seat and I’m here to guide you throughout the process. I’ll advise you on home value, help you minimize risks, and leverage your marketability to sellers.
the process 01 Get preapproved by lender or bank. 02 Meet with Realtor and discuss what you're looking for.
08 Closing confirmed. Realtor supports you at closing.
07 Inspection contingency removed. Bank orders the appraisal. Final financing set.
Here is a quick guide to the buying process. Each transaction is unique, so this will serve as a general guide.
09 Congratulations! You are a Homeowner!
06 Schedule inspection. Discuss results with Realtor. Decide on any repairs needed.
05 Make an offer. Negotiate offer. Get offer accepted! Contingent on inspection.
03 Realtor will find and send options for you to review.
04 Go shopping! Look at homes with your Realtor. Choose your home.
Next steps!
01.
Pre-approval – Quick and necessary to strengthen your offer
02. 03.
Complete initial questionnaire
04. 05.
Establish search criteria for Personalized Portal Review Portal and select favorites Make an offer!
the initial process
pre-approval Getting pre-qualified is the initial step in the mortgage process, and it's generally fairly simple. You supply a bank or lender with your overall financial picture, including your debt, income, and assets. After evaluating this information, a lender can give you an idea of the mortgage amount for which you qualify. Pre-qualification can be done over the phone or online, and there is usually no cost involved. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home. Getting pre-approved is the next step, and it tends to be much more involved. You'll complete an official mortgage application, then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to "property" on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. You'll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock-in a specific rate. In this competitive market, a full pre-approval is required to submit an offer on a home. Ask me for lender recommendations and what questions to ask when shopping for a mortgage professional. Not all lenders are the same.
At our first meeting, we will discuss what you’re looking for in a property, your timeline and go over all your questions. I will then ask you to fill out an intake form that will go even deeper into questions about your home search. This form can be found here. From this information, I will set up a Personalized Property Portal based on your criteria. I’ll funnel all properties and pick the best to view. In the portal, you can save homes, discard homes and take notes, all of which I can see on my end, so it’s a great way for us to communicate! You will be notified daily of any new properties that become active on the MLS that fit your search criteria. With this fast-paced market, it will be important for both of us to keep an eye out for new listings and go see them in person as soon as possible! It's a good idea to make a list of 3-6 homes to see at one time in order to make the most of your time during each outing. It is my job to be extremely available to you and flexible when it comes to scheduling showings. Your realtor needs to be quick, flexible, available and communicate well in order to find you the perfect home.
BEGIN HOME SEARCH
THE OFFER In this market, any offers that you make have to be strong. In many cases, a winning offer will typically be at asking or over depending on the number of offers you are up against. The most important factors to get you under contract are having a competitive offer, a good lender to call on your behalf and to have your agent build a good relationship with the listing agent. Prior to submitting an offer, it's important to find out how many offers are currently on the table, what it will take to be competitive and then typically submitting at a strategical time, not too early and not too late to their requested acceptance deadline. If we find a home that you want to make an offer on, I will typically review the comparable properties in that area to help you determine a solid offer on the home. I will then call the agent to find out what I can about the home and any current offers. From there, I will send you the following paperwork that you will need to review and sign: 1. ‘Exclusive Right to Buy’ - allows me to represent and advocate for you as your agent. 2. ‘Contract to Buy and Sell’ -official offer that will be submitted to the listing agent.
UNDER CONTRACT Once an offer is submitted, it typically takes 24 hours to hear back on whether your offer will be accepted or not. When both parties have signed the contract, you are then considered under contract or pending. You will have about 48 hours from this point to deposit your earnest money. Earnest money is typically 1% of the purchase price and is considered a “good faith� deposit on the home. These funds are held in escrow at the title company and then used towards the buyer’s closing costs or purchase price at closing. During this time, it is extremely important to be in close contact with your lender. Make sure to provide them with any documents they need as quickly as possible. This will ensure we stay on track and can close on the agreed upon date. In order to make sure your loan is approved, we have to make sure your credit is protected and does not change. Postpone any large purchases and make sure to not open any new lines of credit until we have closed. Title work is also ordered and the due diligence process begins.
due diligence One of the most important steps in the purchase of a home is the inspection. This will cover all major systems of the home including HVAC, plumbing and electrical. The inspector will also inspect the windows, utilities, water pressure, foundation and so much more. The inspection typically takes about 3-4 hours and will be scheduled a few days once you' re under contract. If you would like to attend the inspection, I typically tell my clients to show up for the last hour of the inspection. This way, the inspector has time to do their job and can then explain to you what they have found when you arrive. If you would like to schedule any additional inspections, please let me know, so I can get everything scheduled close to one another. Other due diligence items to consider include radon testing, sewer scope, roof inspection, chimney inspection, termite inspection. The inspection cost is generally calculated by square footage, age of home and distance. Inspections typically range from $300-$700 depending on the size of home.
co n d i ti o n a l p e r i o d
Congrats! Your offer has been accepted… Now what?! Your realtor will let you know all the details, but in a nutshell, here is what will happen next: Deposit: Once the Buyer and Seller have signed off on the Purchase Contract, the home is conditionally sold; this means the Seller must sell to you, however, the sale is not final until you (the buyer) satisfy all applicable conditions. The escrow deposit is usually held by the listing brokerage and will be applied to the purchase price if you finalize the sale or will be returned to you if you do not waive conditions. Satisfy Conditions: Depending on your situation you will likely have some or all of the following conditions to your purchase: 1. 2. 3. 4. 5.
Financing Home Inspection Condo Document Review Sale of Buyer’s Home – contingency Other waive conditions
[ QUESTIONS? ] NSuner@gmail.com
303-597-8907 December 7, 2016
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