Thank you so much for the opportunity to share with you the many services and tools that I can provide to you. I look forward to learning about your real estate goals and dreams and how I can best help you obtain them. My desire is to make the process as easy and enjoyable for you as possible by providing you with the right tools, introducing you to other real estate professionals, and guiding you smoothly through what can be a complicated process. This Buyer Handbook equips you with the following tools: • Step-by-Step Home Buying Process
• Getting a Mortgage
• Needs vs. Wants Checklist
• Lender’s Checklist
• Successful Buyer Tips
• Concierge List
• Put MySite To Work For You
• Seth’s Resume
• How Seth can Help You
• What Seth’s Customers Are Saying
I look forward to working with you! Enjoy the following pages and please don’t hesitate to call or email me if you have any questions.
Seth Hanson Broker Associate/Partner Direct 970.377.4955 Mobile 970.310.7498 seth.w.hanson@gmail.com 2803 East Harmony Road, Fort Collins, Colorado 80528 Cell 970.310.7498 • Fax 970.223.7887 • www.liveinnoco.com
Step-by-Step Homebuying Process 1. Meet With Group REALTOR®
Your Group realtor will:
5. Mutual Agreement •
Your Group realtor will assist you during negotiations with the seller and will help you complete the required paperwork.
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Provide you with a customized Buyer’s Packet containing everything you need to know about buying a home in Northern Colorado.
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Provide you with a comprehensive understanding of the local market including statistics and current trends.
Once mutual agreement has been reached, the earnest money will be deposited in a trust account. The Group’s Escrow Services department will then begin to assist you in tracking the important deadlines.
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Show you all of the steps involved in the homebuying process and will explain strategies to increase your odds of success.
6. Finalize Loan
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Learn about what is important to you in a home, what your goals are, and when you need to be settled.
2. Meet with Lender •
Your Group realtor can recommend a highly qualified lender to assist you with your mortgage.
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Your lender will show you the different loan options available to today’s buyers.
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Your lender will provide you with an overview of the costs associated with a loan.
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After providing income and financial information to your lender, you will have an understanding of the price range of the home that you qualify for.
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Your lender can provide you with a pre-qualification letter which can be presented to a seller with your offer to show that you have already started the loan process.
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You will meet with your lender to complete the loan process and select the loan program that best fits your needs.
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Your lender will ask you to provide detailed documentation on your income history and financial status. Your lender will also research your credit history.
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Before closing you will receive notice that your loan is approved.
7. Comprehensive Review •
Before closing, you will have the opportunity to review many aspects of your new home to ensure that you are comfortable with the purchase.
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Your Group realtor can recommend a qualified home inspector to review the physical condition and systems of the home.
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You will have the opportunity to review the title history of the home, the homeowner’s association documents, and a survey of the property.
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Your Group realtor can recommend a qualified insurance agent to provide insurance on your new home.
3. View Homes and Neighborhoods Your Group realtor will: •
Search for every home on the market that fits your criteria.
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Work with other associates to learn about potential homes that are not yet listed for sale.
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Your mortgage company will arrange for an appraisal to verify the market value of your new home.
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Set up an automatic home search to directly notify you when homes that fit your criteria come on the market.
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Introduce you to the neighborhoods that match your lifestyle and will show you the unique amenities and benefits of each area.
our Group realtor will review closing documents with you Y before the closing to make sure everything is correct and that you have a clear understanding of all the numbers.
8. Closing
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Arrange showings of the properties you wish to see.
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Provide objective input about each property that you are considering.
A qualified title company will facilitate the closing where you will sign all of the final loan and ownership documents.
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At closing you will provide your down payment funds and your lender will provide your loan funds. Remember to bring your driver’s license and a certified check.
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Your Group realtor will attend closing with you to offer assistance and answer any questions.
4. Prepare and Present Offer Your Group realtor will: •
Provide you with a detailed market analysis on the home to allow you to make an informed decision on the price to offer.
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Assist you with all the paperwork required to make an offer on the home that you wish to own.
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Provide information and insight on the other items in the offer including contingencies, inclusions & exclusions, and timing.
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Present the offer to the seller’s realtor along with your prequalification letter and earnest money.
Congratulations, you’re now a homeowner!
Needs Vs. Wants
There is a lot to consider when buying a home. You want to make sure that you get the best house for you. Choosing the right home, the right neighborhood, the perfect layout - it can become overwhelming. By using the checklist below, you and your Realtor® will have a better understanding of what you want in your new home. You may not be able to obtain all the “want” items on your list while staying within your budget. You may have to compromise on a few items. This doesn’t mean you can’t have what you want in your home, but rather that you have a priority list of the most important features. Feel free to use the worksheet below to brainstorm on what are the most important things to have in your new home. This can be a great exercise to help you organize. You can even give a copy of this form to me to help us find the best home for you!
Location
Finished Square Footage
School District
Yard Size
Bedrooms
Style
Bathrooms
Age
Garage
Other
Item Eat-In Kitchen Living Room Family Room Den/Office Formal Dining Room Theater Room Unfinished Basement Finished Basement Fence Gated Community Waterfront Access Recreational Facilities
Need
Want
Successful Buyer Tips Become a pre-approved buyer. As a pre-approved buyer, you have better leverage when it comes to negotiating with the seller. The pre-approval process is simple and will help show sellers that you are a serious buyer.
Beat your competition to the best listings. Staying on top of market trends is vital when you’re looking for a home. Like any other home buyer, you want the best home at the best price possible. Of course, these are the homes that sell quickly so you’ll need to make every effort to keep yourself aware of the latest and best listings. Seeking the assistance of a Realtor® will help you stay wellinformed and updated.
Research market trends in your area of interest. Familiarizing yourself with the area that you are interested in will help you get a better idea of what homes are selling for, as well as how long they are typically on the market. Be sure to investigate price ranges for the type of home you want. Having the help of a Realtor® is a serious advantage when it comes time to making an offer. Prove that you are a serious buyer. There are many different ways to prove to the seller that you are sincerely interested in buying their home. One way is by getting pre-approved which will later give you the edge while negotiating an offer. An even better way to accomplish this is to put down more earnest money to catch the attention of the seller.
Don’t settle too fast. Buying a home might be one of the largest investments of your lifetime. Your primary goal should be to make sure that you get the best deal possible for the home you are interested in. A Buyer Specialist can help you make an informed decision when it comes time to make an offer.
Keep your offer simple. The purchase contract should be kept simple and without any unnecessary conditions. A seller will be more interested in an offer that is not going to be slowed down or delayed by things that do not severely affect the value of the home.
Don’t do it alone. With an ever changing market, today’s home buyers will find it very difficult to go through the buying process on their own. Having an experienced Realtor® who can keep your best interests in mind makes a significant impact when buying a home and maximizing your investments.
Put MySite to Work for You MySite is an automated system that searches our MLS for you based upon the criteria we plug into the system. I will input your home buying criteria including square footage, number of bedrooms and baths, type of home, size of lot, location, neighborhoods, etc. MySite will then search the MLS every night looking for new listings that match your criteria. If a home is a match, you will receive an automatic email notifying you of the new listing. It will then provide you with a link to view the property details. MySite can also notify you of price changes to keep you up-to-date regarding the most recent changes in price of homes that fit your criteria. It’s a great tool and most of my clients find it really helpful in honing in on that right home! Please let me know if you are ready to get started on your own MySite.
How Seth Can Help Initial Consultation. During our first meeting, we will talk about what you desire in a home or property. This information will help me identify neighborhoods and houses that meet your criteria.
Home Search Assistance. I will immediately perform a search in our MLS with the criteria you have identified as well as set you up on MySite. Further, we can add to our list any properties that have caught your attention either on-line or while driving around town. Finally, being a part of the largest company in northern Colorado allows me to tap into the resources of our 185 agents to find homes that have yet to hit the market. Home Tours. After determining which homes you would like to see, I will set up showings so that we can go and tour them. If we need to tour several times or revisit previous homes, that is perfectly fine! Also, there may be times when you are outside a home and want to see it right away. If so, just give me a call. If I can get you in, I’m happy to do so! Market Data and Analysis. During our search, I will provide you with data analysis to help you better understand the current market. By reviewing recent sales and current active home statistics, we can determine the market value of the homes you are reviewing.
Contract Writing. Once we determine the home you want to pursue, I can prepare a contract for you and submit it to the seller’s agent on your behalf. During this process, we will discuss how to best write the offer to increase the odds of achieving your goals. Contract Negotiation. Once we submit an offer, I will work on your behalf to negotiate the best price for you. This involves providing the other broker with data and information that supports your offer. Contract Navigation. Once our offer is accepted, the escrow process is started. This process involves obtaining a loan, reviewing title work, finding insurance, inspecting the home, and many other tasks. I work diligently with you to keep us on track. This process involves bringing in many other experts to assist us along the way. I will provide you with a list of other professionals that will help us get to the finish line.
Walk-Through. Just prior to closing we can tour the home to insure its condition and that any inspection items were done properly. Closing. I will review your closing documents to make sure the details are correct and then will attend the closing with you to see it to completion.
Post Closing Assistance. The relationship definitely doesn’t end at the closing table. Not only am I available to answer any questions or troubleshoot for you, but I usually get to be pretty good friends with my clients. So, hopefully the closing table isn’t the last time I see you!
When it comes to the loan process, there are several steps that one must go through. By making yourself familiar with it, you will better understand what is required of you and how you need to prepare. After all, the more knowledgeable you become, the more comfortable and in control you will feel.
Getting A Mortgage Organize Your Documents. In order to obtain a mortgage, your lender will require certain documentation from you to make sure that you will have the ability to repay the loan you take out. Such documentation includes: proof of employment, credit history, tax returns, pay stubs, bank statements, divorce and child support statements (if applicable), and any other information that the lending company feels might be necessary. Qualification. Before you apply for a loan, getting qualified will help you establish how much you can borrow. When purchasing a home, there are two options one may choose from to qualify for a loan. The first option, pre-qualification, is a quick process that usually happens in a matter of minutes. While pre-qualification is helpful, your other option – pre-approval – is more beneficial and gives you better leverage when negotiating with the seller. Getting pre-approved also lets you focus on homes within your price range instead of wasting time looking at homes that you won’t be able to afford. Finally, when it comes time to close, the process will go rather quickly since your loan has already been approved. Find the Right Loan Program. While searching for the right loan program, there are many things to take into consideration. For example, you might want to think about how long you plan on keeping the loan. The length of your residence will determine the type of loan you want to get (e.g. adjustable or fixed). To figure out which loan program is the best, you will need to compare different programs and everything that each one involves such as rates, fees, and points. The whole process can be tedious and difficult at times, which is why a qualified loan officer can help you make the right decision.
Getting A Mortgage Obtain Loan Approval. The process of obtaining loan approval involves the following steps: Review of loan application (be sure to fill it out completely).
Verification of credit history, employment history, assets, such as bank accounts and mutual funds, property value, and any additional information that the lende might require.
There are also a few things that you can do to improve your chances of getting the loan approved: Respond promptly to any requests for additional documents and information.
Do not make any major purchases, such as a car or new furniture, until the loan is closed. Increasing your debt can have a negative affect on your application.
Make sure you will be in town for the closing date. If you cannot be there for the closing of the loan, you can carry out a power of attorney to authorize someone to sign on your behalf. Close the Loan. Once the loan is approved, your next step will be to sign the final loan documents, which usually takes place in the presence of a notary public. Be sure to verify the information within the document, especially the interest rate and loan terms. Also check to see if your name and address are correct. Finally, don’t forget to bring a cashier’s check for your down payment and closing costs and bring your drivers license.
Lender’s Checklist 1. Complete addresses, including zip codes, of present and former residences for the past two years.
If you are renting, please include the name, address and telephone number of all of your landlords for the past two years.
2. Copy of Driver’s License and Social Security card. 3. Present and former employers, including telephone numbers, address and zip codes for the past two years. 4. Your two most recent current paycheck stubs for all employment to cover one month. 5. If self employed, the complete 1040’s for the past two years.
Complete K-1s or partnership returns (if applicable) for past two years.
Corporate tax returns (if applicable) for the past two years.
Year to date profit & loss plus balance sheet.
6. Documentation of any other income (such as Social Security, retirement, court ordered child support, Disability, Interest, etc.) Bring award letter or other documentation showing monthly amount received. 7. Most recent mortage statemants (make sure their is a phone number on the statement) 8. All bank accounts: last two months statements. (all pages, even if blank). 9. Stocks, Bonds, IRA, and 401K account numbers, the name and address of every broker or firm.
Or the last two statements if monthly or last statement if quarterly (all pages, even if blank).
Lender’s Checklist 10. Tax Returns for 2010, 2011 and 2012 and W2s for 2010, 2011 and 2012
If you do not have 2011 W2 bring in last 2011 pay stub with Year to Date on it.
11. Home Owners Insurance Company and your agents name and number. 12. Information of Real Estate sold within the last 12 months (HUD- Settlement Statement). 13. All Mortgage Statements to real estate property owned. Include year acquired and current market value.
If rental properties, supply all rental agreements. If property is pending sale, supply a copy of the sales contract.
14. If you have been through a bankruptcy, bring the bankruptcy papers, all legal documents and discharge schedules. 15. If divorced or legally separated, include a copy of the divorce decree or separation agreement. 16. For VA loans: Copy of DD 214 (showing discharge status).
Original certificate of eligibility (if available).
If previously used VA eligibility, bring previous address & loan number.
Address and phone number of nearest relative (not living with you).
Concierge List Any need that you have I can more than likely help with, especially if I can point you in the right direction. The following is a list of professionals that I can introduce you to as you work towards fulfilling your real estate goals:
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Lenders
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Title Companies
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Insurance Agents
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Home Inspectors
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Engineers/Surveyors
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Well Inspectors
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General Contractors
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Septic Inspectors
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Electricians
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Lawyers
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Plumbers
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Landscapers
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Handyman
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Roofers
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Accomodations/Hotels
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Movers
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City Officials
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Property Managers
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Designers
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Home Caretakers
Seth Hanson
Broker Associate/Partner Direct 970.377.4955 Mobile 970.310.7498 seth.w.hanson@gmail.com
www.liveinnoco.com
Professional Qualifications Masters and Business Administration, Real Estate and Finance
Broker Associate/Partner of The Group, Inc. Real Estate
Member of Colorado Association of Realtors
Member of National Association of Realtors
Real Estate Experience Licensed Realtor since 2005
Ten years experience in Real Estate Development and Construction
Served on numerous Homeowners Associations as President or Board Member
Nine years experience as Property Manager
Real Estate Production and Statistics “Top 10 of 200 agents in 2013” Transactions Closed Gross Sales
2011 39 $11.2M
2012 44 $13.2M
2013 70 $19.1M
Education
MBA Real Estate and Finance, University of Kentucky, 2001-2003
BA in Business Management, University of Kentucky, 1997-2001
Personal Data
My wife and I have lived in northern Colorado since 2004. We absolutely love it here! The mountains are a daily reminder of how blessed we are to live in such a beautiful state. In the past several years, our lives have changed dramatically by the addition of four children, Sam (6), Caroline (5), Will (2), and John who was born 1/23/14. Our children are our greatest joy in life! We enjoy spending family time together making pizza, going to the park, riding bikes, and camping in the summer. Seth Hanson, Partner/Broker Associate 2803 East Harmony Road, Fort Collins, Colorado 80528 Cell 970.310.7498 • Fax 970.223.7887 • www.liveinnoco.com
What Seth’s Customers Are Saying “Seth worked with us approximately 6 times over the past two years. Seth has the greatest disposition of anyone I have worked with. He would be an asset in any field.” J. Daly “Seth is outstanding. He’s honest, always near the phone (even past 9 PM), fully understands what a buyer is going through. He’ll be your #1 agent in the near future.” J. Martell “Pat and I so appreciate all the time you spent with us this summer. We are truly euphoric about our little piece of property in Estes Park. This has been a dream of ours since we married in 1963. Your valiant efforts made it come true.” The Moores, NC “Because we live 1,000 miles away, Seth acted as our representative working with the builder on our new home. Seth truly acted in our best interest in every situation and we could not have been more pleased with the results. The attention to detail and the guidance that Seth provided was exemplary.” The Holms, TX “Seth was great to work with. I’ve had very bad experiences with most agents and in general don’t respect them very much. Seth was one of the rare exceptions!” Howard, CO