Provide, Promote, Produce
BUYER'S GUIDE From Dreams to Keys
806-350-3530
www.remax-pro-tx.com 3601 S. Georgia St. Ste A Amarillo, Texas 79109
CHOOSE A PROFESSIONAL REALTOR Today’s smart buyers never buy a home alone. You are about to embark on an exciting and rewarding journey to homeownership. With our professional home buyer agents, you will know what to expect every step of the way. When you sign a Buyer Agency Agreement with us, you are simply agreeing to “hire” our team as your personal real estate consultants. You agree to work exclusively with RE/MAX PRO, and we agree to keep your personal information confidential and use our knowledge, expertise to benefit you!
Service during the Sale • Attention to deadlines and details of the purchase contract. • List of professional inspectors and booking assistance. • Negotiation of requested repairs. • Follow up with seller’s agent on agreed upon repairs. • Ensure survey, appraisal, and home warranty are ordered, if needed. • Coordinate closing date and closing details. • Review closing statements. • Schedule final walk through before closing. Service After the Sale • Post home purchase follow up and availability for any questions that arise. • Real estate market and trends updates. All this personal service is available at absolutely NO COST TO YOU! See our reviews on Google: See our reviews on Zillow: See our reviews on Realtor.com:
CHOOSE A PROFESSIONAL REALTOR
Service before the Sale • Information on lenders and financing options. • Estimates of down payment amount, closing fees, and monthly payments. • Assistance in home search, including “Coming Soon”, off market, new construction, & for sale by owner properties. • Coordination of appointments & showings for all properties of interest. • Comprehensive market evaluation on properties before an offer is made. • Aid in writing an offer & in negotiation. • Commitment to obtain the best possible price & terms for you.
CHOOSE A LOCAL LENDER
Loan Assistance - We can refer you to several excellent local lenders for this step. Our lenders are very competitive on interest rates and loan fees. They know our market and they close on time. Having the loan pre-approval letter from the lender ahead of time will help us get your offer in as fast as possible once we find a home you love. In today’s market, this is crucial.
List of documents needed to apply for a loan:
• Copy of driver’s license for each applicant. • W-2’s for last 2 years. • Pay stubs for one full month. • Bank statements for last 2 months for all accounts. • Investment account statements. • Tax returns with all Schedules for the last 2 years. • Child support or other monthly income.
Determine your price range, type of loan & terms of loan.
• Conventional – 5% down minimum, private mortgage insurance removed after 20% equity paid. • FHA – 3.5% down, PMI might not be removeable. • VA – 0% down, seller pays some fees automatically. • USDA – 0% down, can be used on properties outside Amarillo city limits. • Ask your lender if you qualify for special grants or programs. After receiving your pre-approval letter from your lender, keep your finances similar. Do not buy a car, appliances, or furniture, don’t close any accounts, don’t change jobs, no large cash deposits, etc.
CASH OFFERS – If no loan is needed, please be ready to have a “Proof of funds letter” from your bank or a copy of your bank statement showing the amount is available for the purchase. (Black out account numbers.) If moving funds from an IRA or similar type account, check on how much time they will need to release funds. Curious about how much money you will need to close and what your payments would be? We have calculators that can give a close estimate of what your payment will be with taxes, insurance, and PMI. We can also estimate what you will need for closing, inspections, survey, etc. Renting? Give us the monthly payment amount you are comfortable with, and we can help you decide what price range to shop in.
We PROMOTE your best interest!
Choose a local lender
We will NEVER show you homes outside of your chosen price range just to get you to buy a higher priced home!
CHOOSE A HOUSE Shop online at www.remax-pro-tx.com What is important to you? • Area – Do you need to be near work or family? • School district? • City or Country? • Character vs. New Construction? • Size? • Bedrooms? • Baths? • Garage? • List the top five to seven items your home should have. Thinking of purchasing new construction? It is important to choose a builder that builds a quality home. No matter what your budget, we can help you choose the best builder for you. We can show you finished homes and unfinished homes built by different builders. This way you can see what style, quality, price range and finish choices each builder has. Finally, we can set up a meeting with the builder to discuss what kind of home you would like him or her to build. When the choice is made, we can help negotiate the contract and track the construction process. See a for-sale-by-owner property that you would like more information on? We work with for-sale-by-owners too! Just send me the address and phone number of the property. We will call the seller and get all the information we need. If it seems like a property that would work for you, many times we can convince the seller that it is in his or her best interest to work with me. This way, you know the paperwork is done correctly, all the deadlines are met and the home closes on time. You wouldn’t want to hand over your hard earned money only to find out that the house isn’t transferred in your name or that the person you gave the money to doesn’t even own the house.
- We know the market!
Choose a house
- We know negotiation!
CONTRACT PROCESS
ACCEPTANCE OF OFFER Once your offer is accepted and the contract is signed by all parties, the clock begins and several key items must be completed before their deadlines. Within 3 days, the title company must receive the earnest money and the option money. These can be personal checks or certified bank checks.
contract
OFFER Your RE/MAX PRO agent will help you decide what a fair offer should be. First, your agent will gather data that shows what similar homes in the area have recently sold for. This Comparative Market Analysis will increase your confidence that you are not offering too much or too little. Any documents provided on the property such as the PRAD tax information, seller’s disclosure, lead based paint addendum, on-site sewer notice, and/or survey, will be given to you by your agent for your review. Next, your RE/MAX PRO agent will go over the items you can negotiate: Price, down payment, type of loan, seller paid home warranty, seller paid closing cost help, closing date, option period, earnest & option money amount are the main negotiable items in the contract. Other negotiable items that may be considered: Refrigerator, washer & dryer, counter microwave, curtains, movable island. If a loan is needed, the lender’s pre-approval letter will be sent with the offer. This letter shows the seller, that you are financially qualified to purchase the house.
OPTION PERIOD
For a nominal fee the buyer can pay for a 10 – 14 day option period that allows a buyer the option to back out of the purchase without losing the earnest money. The seller keeps the option fee. Once the contract is signed by all parties, the clock begins and the following happens:
TITLE COMMITMENT – Sent from the title company & shows any liens or debts against the title. INSURANCE – Contact your home insurance provider for a quote and check to see if there are any outstanding claims on home. RESIDENTIAL SERVICE CONTRACTS If a residential service contract (home warranty) was negotiated into the contract on a resale home, choose the company you would like to use. Ask your agent for a list of providers.
- We provide resources!
Option Period
INSPECTIONS AND REPAIR NEGOTIATIONS Inspections – General $300 - $500 Plumbing $225 - $350 Termite $110 - $135 Septic & Well Other inspections as needed – electrical, radon, foundation, LBP For a single-family home, these inspections often require two or three hours. You should plan to attend the last 30 minutes of the inspection. This is an important opportunity to examine the property’s mechanics (plumbing, wiring, etc.) and structure, ask the inspector questions, and learn far more about the property than is possible with an informal walk-through. We have a list of trusted inspectors for your convenience.
AFTER THE OPTION PERIOD • Survey is ordered by the title company, if needed. • Appraisal is ordered by the lender. • Home Warranty company decided upon by the buyer and warranty ordered by the title company. • Buyer changes their mailing address online. • Contact utility providers. We have a list for your convenience. • Contact movers. During peak moving months, contact sooner. • Arrange care for pets and/or children for moving day. • PACK!
Plan & Pack
- We stay on track!
CLOSING & KEYS CLOSING WEEK Closing Statement received and reviewed. Repair receipts received for agreed upon repairs. Final walkthrough the day before or that day. Keys & garage door opener transfer verified. CLOSING DAY Must have at closing: Driver’s license or valid photo ID. Wire transfer or certified check.
CONGRATULATIONS! You are officially the owner of your new home! Closing & Keys
We produce results!
Ready to get started? Name(s)________________________________________________ E-mail (s)________________________________________________ Phone number(s) _________________________________________ Date to be moved by _______________
Lender or Cash?
Price range _______________________ Home wish list: Number of Bedrooms _______
Number of Baths _________
Garage Stalls __________
Shop - Yes/No
In Town or in the Country?
Character or New?
Preferred areas ___________________________________________ Preferred schools _________________________________________ One story or two?
Basement or storm shelter?
Large Kitchen?
White cabinets or stained cabinets?
Open or Traditional floor plan?
One or two living areas?
Small, average, or large backyard?
Acres?
Outdoor entertaining area? Favorite restaurants ______________________________________ Hobbies ________________________________________________ Please take a picture of this sheet and send to your RE/MAX PRO agent. Or send to admin@remax-pro-tx.com and we will get you to the right adviser for you. Office 806-350-3530
www.remax-pro-tx.com