Guide to Homeownership

Guide to Homeownership

Linda Maxwell, CEO-Broker Direct: 651-214-1456 / Office: 781-419-9300 Linda@PremierPropertiesNE.com www.premierpropertiesne.com

Content

Premier Properties of New England

05 Home Buying Process Overview of the purchase and mortgage process.

08 Making an Offer You’ve found the house! How much should you offer and what happens now.

Your Solution for a Successful Purchase

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T

Above & Beyond

his is about more than real estate. It’s about your life and your dreams. It’s about how you feel when you walk through the front door, and the way you can instantly envision your life unfolding there. We realize that you have a choice when choosing a real estate professional to assist you in purchasing a home and we’d love the opportunity to earn your business.

Selecting your “Team.” Choosing the best professionals for the team.

14 Your Home Wish List What features are the most important to you. Your must haves and wants.

18 About Our Team

Who We Are...

Premier Properties of New England is a team of REALTORS with 80+ years combined experience so you can trust you’ll be in competent hands. We work with each of our clients individually, taking time to understand their unique needs and lifestyle. We take our business seriously and we’re committed to providing trusted professional service delivered with excellence!

We’re committed to supporting our Military Service Members and I’m proud to share that every agent on our team has earned the MRP Certification, National Military Relocation Professional. We were the first and only brokerage to achieve this level of commitment for our Military members and their families. It’s incredibly fulfilling when we’ve been able to successfully see our clients open a new chapter in their lives. That’s why we work so hard to not only find that perfect home but also to handle every last detail of the purchase process, from negotiating the terms of the sale to recommending moving companies.

It’s our distinct pleasure and privilege to assist you,

What you should know about our team.

Linda Maxwell, CEO 3

Your Guide to Buying a Home...

The Home-Buying Process

It’s All About You

Select a Real Estate Agent Select Team Members Obtain Financial Pre-approval

Analyze Your Needs in a Buyer Consultation Select & View Properties

Write an Offer to Purchase Provide Earnest Deposit

Negotiate Terms

Accept the Contract

Conduct Inspections

Your Needs Your Dreams Your Concerns Your Questions Your Finances Your Time Your Life

4 Premier Properties of New England

O

Unacceptable Inspection

ur real estate business is built around one guiding principle: IT’S ALL ABOUT YOU

Our focus is on your complete satisfaction.

In fact, we work to get the job done so well, you’ll want to tell your friends, family, and associates about us. Maybe that’s why more than 70% of our business comes from repeat customers and referrals.

Good service speaks for itself. We’re looking forward to the opportunity to earn your referrals too!

Proceed w/Mortgage Financing or Provide Cash Funds

Inspection Satisfactory

Appraisal • Survey • Insurance • Final Credit Check • Underwriting Terminate Contract

Attorney P&S Review

Deposit Refunded- DONE Move on to alternate properties

Sign P&S Deliver 2nd deposit

Obtain Clear to Close Obtain Funding/Cash Closing Day

Take Possession of Home!

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Purchase and Sale Agreement

Identifying a Home

The Mortgage Process...

Funding Your Home Purchase inancial Pre-Approval / Application

Buyer provides pertinent information and documentation including:

1. Verification of employment 2. Current pay stubs 3. Previous years taxes 4. Two months bank statements 5. Proof of down payment 6. Proof of funds for closing costs, etc.

Credit report history is requested and reviewed. *Credit report is run and reviewed again a few days prior to the close date. DO NOT ALTER YOUR SPENDING/CREDIT UNTIL AFTER YOUR PURCHASE. Ask us for our Credit Do’s and Don’ts Handout.

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After you’ve obtained mortgage pre-approval you’ll know the price range in which to begin your home search. Your loan officer will advise you on the estimated monthly payment you can afford based on the property type, estimated purchase price, the dollar amount of your down payment, condo fees- if applicable, and taxes for your preferred town(s). This is ONLY AN ESTIMATE. Your actual monthly payment could change depending on the actual purchase price, taxes, insurance, and the type of property.

(Single family, condo, town-home, multi-unit, or investment property.)

Loan approval will begin when you have a signed contract with a seller. You should have reviewed the Purchase and Sale Agreement with your real estate attorney prior to signing. Final mortgage application documents are then completed and sent to the lender and closing attorney for title work.

Underwriting The loan package is submitted to the underwriter for full review and approval.

Why Pre-Approval?

We recommend our buyers get pre-approved before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means to end up with a huge disappointment.

Proof of financial ability to purchase a home will be required by the seller at the time of submitting your initial offer. The mortgage pre-approval, or proof of cash funds, will accompany the offer.

In a seller’s market lack of preparation to obtain your financing will jeopardize the possibility of getting the home of your choice.

Funding Upon written underwriting approval and with acceptable UPDATED CREDIT CHECK “Clear to Close” is issued.

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Offer & Negotiations

Personal Property

Prepare For It

Typically, we will present the offer to the seller’s agent, or sometimes directly to the seller. The seller will then do one of the following:

Often, the seller plans on leaving major appliances in the home.

However, this is not always the case. Which items stay or go is a matter of negotiation.

There is sometimes the possibility that the seller may be willing to sell personal property such as furniture, lawn equipment, etc.

The seller might also exclude certain items.

-Certified check for down payment and closing costs

- Accept the offer - Reject the offer - Counter offer

O

nce you have found the property you want, we’ll write an Offer, known as “The Contract to Purchase.” While much of the agreement is standard, we’ll discuss which of several contingency provisions you desire to best protect your earnest deposit, in addition to negotiable items.

The Price

Making an Offer...

You’ve Found “The” House After research, property showings, and reviewing market data with your REALTOR: YOU FOUND YOUR NEW HOUSE!

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What you decide to offer on a property depends on a number of factors, including it’s condition, location, length of time on the market, buyer activity, and the urgency of the seller. While some buyers may want to make a low offer just to see if the seller accepts, this isn’t a smart choice for two reasons: 1. The seller may have multiple offers to consider- putting yours at risk of quick rejection.

2. The seller may be insulted and decide not to even negotiate at all.

-Current photo ID and social security number -List of your addresses for past 10 years

Own It Transfer of title moves the ownership of the property from the seller to you. Two events that make that happen are: Delivery of Funds- This is a check or wire of funds provided by your lender for the loan amount.

By far the most common is the seller’s counter offer.

In these situations, our experience and negotiation skills become powerful in representing your best interests.

When a counter offer is presented, we will work together to review each specific area of it, making sure we move forward with your goals in mind, and negotiating the best possible price and terms to suit your needs.

-Insurance binder and paid receipt if not already given to closing attorney

Closing Day Closing day marks the end of your homebuying process and the beginning of life in your new home! To make sure your closing goes smoothly you’ll need to bring several things.

Delivery of the Deed- The Deed is the document that transfers ownership of real estate. The deed will be taken and recorded at the Registry of Deeds.

With Keys in Hand- It’s time to celebrate! You can move in and begin making memories while you transform your new house into your home!

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Above andBeyond...

Selecting Your Team

Matthew Teeter

Sherry Keenan Burke

Office: (978) 922-4446, x1149 Direct: (508) 932-2331 matt@goldcoastmortgage.com www.goldcoastmortgage.com NMLS #20485 MB #1841

Office: (508) 528-1800 Direct: (617) 293-5098 sburke@leaderbank.com www.sherryburke.com Loan Officer NMLS #49936 Lender NMLS #449250

Mortgage Loan Originator

Senior Loan Officer

Providing exceptional service involves more than a Realtor’s assistance and guidance to make your real estate dreams come true. It requires us to step-up our value by offering options for the team members required for the entire purchase process. It’s critical that you have impeccable resources for financing and legal representation. Your team must provide the best knowledge, cost value, cooperation and operate like a finely oiled machine to ensure you experience optimum benefit and value.

In our experience, putting together an outstanding team ensures the smoothest and most effective way to enjoy your home buying experience. We’re pleased to provide access to lenders and legal counsel that we can recommend, know, and trust.

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John Mahoney

David Traniello, P.C.

Law offices of John E. Mahoney

Patriot National Title Services

■ (978) 557-5755 ■ (888) 523-7450 david@traniellolaw.com www.lojem.com

■ (781) 246-2112 ■ (781) 246-2115 david@traniellolaw.com www.traniellolaw.com

Traniello Law

PERSONAL ATTENTION TO YOUR LEGAL MATTERS

FOR ALL YOUR REAL ESTATE NEEDS

Abrams Insurance

Hawkeye Inspections

Danya Abrams

Auto | Home | Life Financial Services

Office: 508-404-1102 Fax: 508-644-0600 Danya.Abrams@horacemann.com www.agents.horacemann.com

200% Guarantee

Home Inspections Enviromental Testing Radon | Water | Mold

800-781-7130 custserv.ahi@comcast.net www.hawkeyeinspectors.com Free 90-120 Day Warranties 24-Hour Scheduling Online

The Horace Mann Companies 11

What’s Ahead?

Frequently Asked Questions...

Let’s look for a new home!

The information we will discuss about your wants, needs, and desires are all taken into account when I customize the home search for your review. We may find some details of your search criteria needs modification as we progress. If you discover your needs or wants change, let me know. We’ll simply edit the search criteria.

To assist you in your home search journey, I will organize a list of homes showing us the following information for each:

How will you tell me about the newest homes available?

How does for sale by owner (FSBO) work?

MLSPIN is the Broker to Broker database which provides the most up-to-date information for every home on the market. I constantly check for newly listed homes for my clients. You’ll receive email alerts with daily/weekly listing updates.

If you see a FSBO let me contact the owner for you and make an appointment so you get the advantage of my services. Most times the homeowner is happy to work with a buyers agent, even though their home is not listed.

Will you inform me of other real estate company listings?

Can we go back and view our property after an offer is made?

Yes, I’ll keep you informed of ALL homes. We want to help you find your dream home, which means we need to stay on top of every home that’s available.

Yes, usually we can notify the seller and schedule a convenient time to view the property again.

Immediately before the closing we’ll also schedule a final walk-through to verify the home’s condition remained the same as when you last viewed it.

Can you help me find new construction homes?

Yes, absolutely! I can work with builders to get the information you need to make a decision. We’ll accompany you at the first visit with the builder, and most future visits. When using our service for new construction we negotiate discounted costs for upgrades and/or changes with the builder.

Having me represent you is at no additional cost.

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~ ~ ~ ~ ~ ~ ~

Current asking price Property address Photos- when available Number of bedrooms and baths Unique features and comments Age of the home & lot size- if available The square footage- when available

Once we narrow down the list with your properties of interest, I will:

~ ~ ~ ~ ~ ~

Alert Me To Changes Buyers sometimes find that they’ve defined the search too narrowly and need to make some modifications.

You may realize you dislike a certain property type, or wish to add a different style.

Buyers should have two lists; one for “Wants” and another for “Needs.” You may discover that we need to re-assess our search based more on Needs vs. Wants.

Once you find a home to purchase you can implement your Wants at a later time.

Provide answers to any questions Provide current public tax record Schedule & coordinate private showings Tour the homes with you Provide more details about the home Determine how the asking price compares with other homes in the area.

Once my offer is accepted, what should I do?

Celebrate and focus on moving! DO NOT make any large purchases without consulting your lender first. You’ll want to schedule movers and pack. I will provide you with a moving checklist to help you remember all the details. Your closing attorney will give you the preliminary cash amount needed for closing day.

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YourHomeWish List...

Moving Checklist...

M

ost buyers have distinct NEEDS and WANTS when purchasing a home.

We need to determine which items on your list are WANTS and which items are NEEDS. This will enable us to rule out property that simply won’t make the cut.

General 1. Do you have a preference about the age of the home?

2. Do you want the house “move in” condition or are you willing to do some work?

3. What do you want your home to say about you?

4. Are you looking for additional structures such as a barn, shed, greenhouse, etc.?

New Telephone Number: (_______) ______________________________ New Address: _____________________________________________________ Before you move, you should contact the following companies and Old & New service providers:

Utilities: ______ Electric ______ Telephone ______ Water ______ Cable ______ Gas/Oil

Insurance Companies: ______ Auto ______ Health ______ Home ______ Life ______ Renters

Professional Services: ______ Broker ______ Accountant ______ Doctor ______ Dentist ______ Lawyer

Business Accounts: ______ Banks ______ Cellular Phones ______ Department Stores ______ Finance Companies ______ Credit Card Companies

Subscriptions: ______ Magazines ______ Newspapers ______ Wine Club

Clubs: ______ Health and Fitness ______ Country Club

Government: ______ IRS ______ Post Office ______ Schools ______ State Licensing ______ Library ______ Veterans Administration Miscellaneous: ______ Business Associates ______ House of Worship ______ Drugstore ______ Dry cleaner ______ Hairstylist

Structure/Exterior 1. What type of home are you looking for? (Single family condo, townhouse, duplex, multi-unit, etc.?)

2. Approximately what square footage are you looking for?

3. What architectural style do you prefer? (Ranch, colonial, split, etc.)

4. What type of heat do you prefer? (Radiant, forced air, oil, gas, etc.)

5. What size lot are you looking for?

6. Do you have a preference for type of exterior siding?

7. Do you want a porch, deck, fenced yard, or pool?

8. What are you looking for in terms of a garage? (1 car, 2 car, detached, attached, not important) 9. What additional exterior features are important to you?

Interior 1. What style interior do you want to have? (Formal, informal, casual, traditional, or contemporary) 2. What kind of floor plan do you prefer? (Open vs. walls between all living spaces) 3. In general, what are your likes and dislikes for the interior of your home?

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“The ache for home lives in all of us. The safe place we can go, as we are, and not be questioned.”

Bedrooms 1. How many bedrooms do you need?

2. How will each of these rooms be used?

~ Maya Angelou

3. What are your preferences for the Master bedroom?

Living/Family Room 1. Describe your likes and dislikes.

2. Do you want a fireplace?

3. What size rooms do you have in mind?

4. What other rooms do you need or want?

Bathrooms

5. What else should I know you’re looking for about the inside of your home?

1. How many bathrooms do you need?

2. What are your needs for each of these?

Summary

3. Do you need a master bath?

What are the TOP 5 things your home must have?

Kitchen

1.

1. What features must your kitchen have? (Island, eat-in, cabinetry, appliances, etc.)

2.

2. What finishes do you want? (Counter-tops, flooring, fixtures, appliances, etc.)

3. What are your likes and dislikes for the kitchen?

Dining Room

3.

4.

5.

1. Do you want a formal dining room apart from the kitchen?

Beyond those five things, what is something else you really want to have?

2. What if it’s part of the living room?

If you could have another something else, what would that be?

3. What size and shape dining table do you have?

If you could have one last thing to make this your dream home, what would that be?

TheNeighborhoodOfYour Dreams...

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• Areas you would enjoy:

• Specific streets you like:

• School district(s) you prefer:

• Your work location(s):

• Recreational facilities:

• Favorite shops/conveniences:

• Distance from town:

• Proximity to public transportation: 17

Testimonials ...

Linda was our agent who helped us purchase a new home. She provided excellent service. In fact, we have recommended her highly to others after our experience with her. She was a very honest, diligent, knowlegealbe, and thoughtful agent. We highly recommend her! ~ Barry and Beth S. Linda Maxwell in particular is very intelligent, knowledgeable, and thorough. She is diligent & hard working. She puts in a lot of time for the client and I have witnessed on numerous occasions her going the extra mile to ensure the job is complete and done well. ~ Marc D.

Linda Maxwell was a great listing agent. She was always responsive to my calls. It was a difficult area to sell a home in and it was on the market during a very down time. She did everything I could have asked in the time the house was on the market. She went beyond what is required of an agent and checked on the property when it was vacant for me. She kept breast of the quickly changing market in the area.

What you should know...

About Our Team

S

erving others is one of our primary cornerstones. There is nothing more fulfilling than to know our assistance has been instrumental in helping our clients, and the community. We believe that providing value and “giving back” is an essential element to life and we truly appreciate each opportunity to do so.

We’re committed to focused efforts to serve our military members, donating to local food shelves, St. Jude’s Hospital, and supporting our local businesses.

Real estate is one of the largest and most personal investments most of us will make.

We take that investment and our professional responsibility very seriously. You can feel your

It can be confusing when trying to decide what’s best and how to proceed with this important decision. Our intent is to earn your trust and your business. We will never take the honor of working with you for granted!

Regardless of our skills and talents, or how many sales we’ve closed in the past, we believe every new buyer or seller is a brand new opportunity to provide service with excellence and to deliver 100% of our best.

It’s our privilege to get to know you. We enjoy nurturing professional friendships that last a lifetime and we look forward to working with you!

With Appreciation,

~ Eileen L.

In purchasing a second house to be used for a child care center, Linda Maxwell was beyond helpful.

I know for a fact that we would not have been able to purchase so quickly, without any issues if we had not had the help from our Realtor, that we were so lucky to have! ~ Anita H.

Working with our Realtor, Linda Maxwell, was a positive experience that I would highly recommend to anyone searching for the “right” home. Selling our home was also a smooth experience and finding a new home that suited our needs in our area and price range was possible with the support and expertise of having an experienced and dedicated realtor. Seven years later we are still loving our hobby farm and thankful to Linda for her understanding of our perfect place along with her individualized attention to our negotiation process. ~ Desirri A.

I found Linda Maxwell to be a professional that listened to me, worked very well with me, provided her professional opinion but did not push, provided me information in a timely manner, was assertive when needed, and raised areas of question so I did not get “blind sided”. I have no problems recommending Linda to others and I would do business with her again any day! ~ Pat N.

Linda Maxwell, Broker-Owner 18 Premier Properties of New England

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Office: 781-419-9300 Web: premierpropertiesne.com Email: Info@PremierPropertiesNE.com