The InHouse Group Buyers Guide

CONTENT

About Us - Meet the team

Finding Your New Home With The InHourse Group

Meet Your Buyer´s Team

Steps For Buying Your Home

Working With Your Buyer´s Broker

Development Portfolio

Neighborhoods The InHouse Group Specialize

ROBERT EARL

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MEET THE TEAMMEET THE TEAM-

VIRGINIA INCALCATERRA

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-MEET THE TEAM

NICKY SCHMIDLEIN

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-MEET THE TEAM

JULIAN SAPALA

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FINDING YOUR NEW HOME WITH THE INHOUSE GROUP

We believe that purchasing a home should be fun and rewarding experience. Yes, we sympathize that it's a nail biting and sometimes nervous experience as well. Balancing the two and helping you have a smooth and bump-free ride are what we strive towards.

WITHWorking with our team helps the buying process succeed. The InHouse Group works with attorneys, mortgage brokers, interior designers, contractors, and movers that will all be on your speed-dial. We curate the team that works for you . Start to finish including designers and contractors if you purchase a home or apartment in need of renovation.

In addition to our vast knowledge in the Real Estate business and the Brooklyn, Manhattan and Queens neighborhoods, The InHouse Group is your TEAM. 1 2 3 4 5

We understand current industry and economic trends. We know the neighborhood where your project is located.

We understand and connect with the target audiences to understand needs, preferences and desires. We communicate that branding through well planned out and integrated marketing tactics that include strategy, creativity, and execution. We constantly refine and fine-tune the marketing mix and program over the life of the development to optimize the sales and leasing velocity.

THE MORTAGE BROKER THE

THE DESIGNER

ESTATE ATTORNEY

THE HOME INSPECTOR

MEET YOUR BUYING TEAM

CONTRACTOR

THE CONTRACTOR

IN 10 SIMPLE STEPS

MEET WITH YOUR INHOUSE GROUP BUYERS AGENT

Consult with your agent about your wish lists for your new home and discuss the buying process.

CLEAN UP YOUR CREDIT

Ask your lender for guidance on any credit score issues you may be facing.

1 2 3 4

FIND A LENDER

The InHouse Group can recommend a mortgage broker to be part of your team. In addition to processing your loan application, the mortgage broker will evaluate your financial situation, pre-qualify you for the loan amount that you can afford, and calculate your monthly payments.

APPLY FOR MORTAGE

PRE-APPROVAL

A lender will help you determine exactly what you can afford and, therefore, whivh houses you should be consideting.

Come up with a few “musts” as well as “wants” you´d ultimately be willing to compromise on. SEARCH

THE LISTINGS

Now comes the FUN PART: Search for homes that meet your parameters.

MAKE AN OFFER

Your real estate agent will walk you through the steps required to make an offer on a home in your area.

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DO YOUR DUE DILIGENCE

This process usually includes getting a home inspection to make sure you haven’t missed any hidden problems.

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9 10

GET FINAL MORTAGE APPROVAL

Once your offer to purchase is accepted, you’ll work with your lender to get final approval for your home purchase by the date specified for the closing.

ATTEND THE CLOSING

CHEERS YOU ARE A NEW HOMEOWNER!

This is when the deed to the home is transferred from the seller to the buyer. Every transaction varies, but plan to sign a ton of paperwork.

BUYER´S BROKER WORKING WITH YOUR

Searching for your NEW HOME

THE REAL ESTATE BROKER

Working with the InHouse Group, you won't find "sales tactics" being used by our sales team. The InHouse Group approach to the buying process is Basic. We firmly believe that sales people need not to be pushy. We listen to our buyers needs and wants for their new home and guide them through the process. The InHouse Group is the conduit for your buying team, for a smooth home buying experience.

We strongly believe in prompt response. There is nothing worse then when you call someone and they do not get back to you right away. We handle this through our "chat with us now" links.

Try it now. Click on the chat box.

The InHouse Group Team is very knowledgeable about the neighborhoods of the 3 Boroughs, Manhattan, Brooklyn, and Queens. We curate your neighborhood searches and set up your showings and open house tours. Our Sunday open house tours include places to go for a coffee or brunch and highlight things to do in the neighborhood. The tours also include a FaceTime and Call button for easy access to your personal buyers broker from our team if we are not accompanying you.

The InHouse Group is in your corner as we assist you during every step of the transaction.

THE INHOUSE GROUP WEBSITE

We have curated searches by neighborhoods. Search and Browse to find homes that match your interest. Create a collection of homes that you would like to see. Your InHouse Group agent then sets up showings for you. We have an extensive co-broke network and relationships with listing brokers which makes it easier for us to get in touch with the brokers to set up appointments.

OPEN HOUSE TOURS

Your InHouse Group agent will create Sunday Open House tours that will include cafes to stop at for a coffee in between showings and a few places for brunch to stop by to really get the vibe of the neighborhood after the open house tours.

STAY IN CONTACT WITH YOUR INHOUSE GROUP AGENT

SUNDAY OPEN HOUSES ChatwithUs

There is a direct chat link for face time or a call with your personal agent. If you have questions while you are looking around a neighborhood or see a building that interest you, it is easy to chat with us. If your agent can't attend an open house with you, there is a chat link on the open house tour to face time and talk with your agent.

SUBMIT AND NEGOTIATE AN OFFER ON YOUR BEHALF

Once you're settled on what property you want to purchase, your agent will advise you the BEST OFFER PRICE to make. This offer price will be based on the current market value of the property as well as the agent's own feel for what the sellers are likely to accept. If this offer is met with a counteroffer then your agent will negotiate on your behalf to help secure the best deal for you. If an agreement is reached then a purchase contract will be sent to your attorney and the buying process can begin.

CALLING IN AN UNSPECTOR

The InHouse Group will refer an inspector to insure your new home is in working order. The inspector looks for any mechanical, structural, and electrical issues.

DUE DILIGENCE WITH YOUR REAL ESTATE ATTORNEY

After your offer is accepted, A deal sheet is made with all involved in your buying transaction. Your Buyers Broker, Your Real Estate attorney, Mortgage Broker, along with seller's side information. The InHouse Group will assist you in referring a Real Estate attorney to be part of your team, if you do not have one.

MORTAGE´S BROKER

GETTING PRE-APPROVED

You decided you want to buy an apartment in NYC and are ready to jump right in to the search process. Before you get too excited about your NYC apartment search, it’s important that you get start your mortgage process early by getting a mortgage pre-approval letter first.

If you want to act quickly when you find the right apartment, it’s crucial for buyers to have their mortgage pre-approvals ready to go because it is customary to submit your mortgage pre-approval letter (or pre-qualification letter) and REBNY Financial Statement with your offer to purchase a NYC condo, co-op, townhouse, single-family or multi-family home.

THE DIFFERENCE BETWEEN PRE-QUALIFICATION AND PRE-APPROVAL

A pre-qualification is the first step in the pre-approval process. You submit a snapshot of your financial situation to a bank, lender or mortgage broker - including a list of your income, debt, and assets. After a quick review, banks and mortgage lenders provide you with a pre-qualification letter stating an approximation of the mortgage you are pre-qualified for.

Most institutions perform a soft credit pull during this process which will not affect your credit score (it is always important to ask in advance). The pre-qualification process can typically be handled quickly over the phone or as fast as a few minutes online for free.

A pre-approval is more detailed and tends to occur as the follow-up step to a pre-qualification. During the mortgage pre-approval process, a homebuyer will complete a full mortgage application including submission of financial documentation and a hard pull of your credit report for review.

This documentation typically includes details on your income and assets, any liabilities or debts you have, pay stubs, and any other relevant documentation the lender may request. Based on this detailed information, the bank or mortgage company will evaluate your debt to income ratio and credit worthiness, and be able to give you a more specific description of loan sizes as well as the potential interest rate and mortgage payment you may be charged on loan products you are eligible for.

Once pre-approved, the bank or mortgage broker will provide you with a pre-approval letter which will be valid for 60-90 days and explain the loan amount you are approved for.

CAN YOU GET DENIED FOR A MORTGAGE AFTER BEING PRE-APPROVED?

After pre-approval, new negative information could appear in your credit history, dropping your score below the lender’s qualification guidelines If you lost your job prior to closing on the loan, you’d likely be denied. That’s because the lender can no longer verify you’ll be able to make your monthly payments Running up too much credit card debt before the loan closes could put your approval in jeopardy, too

Basically, anything that significantly impacts your financial picture between your pre-approval and loan closing could change your mortgage eligibility.

COMMON MISTAKES DURING THE PRE-APPROVAL PROCESS

Any changes to your mortgage application after getting preapproved could affect your eligibility, interest rate, or home buying budget. After getting pre-approved for a mortgage, try to maintain the status quo until you close on the home. For example:

At any point in time you can call our preferred mortgage broker with questions with a quick response.

Keep the same job Delay major purchases that could impact your credit or debt-to-income ratio

Protect your savings account

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Gather documentation for any large deposits into your bank accounts

If you do have any major changes in any of these areas, be sure to contact your lender as soon as possible.

Otherwise, by holding steady, you should be able to keep your mortgage pre-approval intact and your home offer secure.

DO MORTGAGE PRE-APPROVALS AFFECT YOUR CREDIT SCORE?

Most mortgage preapprovals require a hard pull on your credit, which can affect your credit score. But the impact is usually very small. According to myFICO, one hard inquiry will take less than five points off your FICO score. (For perspective, the full scoring range is 300-850.) And if you get multiple pre-approvals within 2-4 weeks of one another, they all count as a single hard inquiry — so your score will only be dinged once.

WHY DO YOU NEED A SKILLED

MANHATTAN REAL ESTATE ATTORNEY WHEN LOOKING FOR YOUR DREAM HOME?

ASK THE ATTORNEY QUESTIONS WITH QUICK RESPONSE

STEPS IN DUE DILIGENCE

Broker Delivers Deal Sheet, Offering Plan & Financials to Buyer’s Atty for Review & coordinates inspection ( optional for coops / condos – mandatory for houses ) (1-2 days)

Seller’s Attorney drafts and delivers Contract to Buyer’s Attorney (1-2 days)

BUYER’S ATTORNEY COMPLETED

DUE DILIGENCE

ie reviews Contract and verifies all info with Client including party names, deposit, financing terms, closing date, and any other miscellaneous info. Reviews board minutes , offering plan , building financials and sends questionnaire to management (5 business days from offer acceptance)

Buyer’s pays Retainer Fee

(50% of legal fee

($2,000)) and signs the Contract via Docusign and wires 10% deposit to seller’s attorney.

Once Sellers atty confirms receipt of deposit wire , Seller will countersign and parties are officially in Contract. Buyer’s Atty Receives Fully Executed Contract from Seller’s Atty. Copy sent to client , realtor and Lender. (1- 2 days)

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Buyer works with realtor on board package and submits to mgmt. for board approval and is submitted within 3 business days from issuance of commitment letter ( Board has 30 days to review package and invite Buyers for Board interview via zoom if coop / no interview if condo ).

6 Client commences

Financing with Lender, locks in rate , submits financial docs, and appraisal is ordered. Loan Commitment forwarded to Buyer’s Atty within 30 days from contract signing **

(Mortgage

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Contingency-protects buyers deposit until loan approval is issued, otherwise Buyer may cancel and receive return of full 10% Deposit).

(30 days)

Once Buyers are board approved , Buyer’s Atty coordinates Closing with Lender’s Atty once file is cleared for closing. (3-5 days prior to closing)

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Buyer’s Atty orders Title report, reviews and clears title so Buyer receives clear and marketable title. (7-10 days)

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Buyer’s Atty receives check breakdown from Seller’s Atty, prepares closing statement and reviews all numbers with Client. Client completes final pre-closing walk through/inspection with their Agent (1-2 days prior to closing)

ALL CHECKS ARE CUT TO PARTIES INVOLVED, BUYER RECEIVES KEYS AND DEED TO THE PROPERTY AND YOU ARE NOW A PROUD & HAPPY HOMEOWNER!!!

NEIGHBORHOODS

Williamsburg

Greenpoint

Bushwick

Bed-Stuy

own Hights

Gramercy

NEIGHBORHOODS

THIS IS A LIST OF NEIGHBORHOODS WE SPECIALIZE IN... AND THE LISTING IS GROWING

Check out our neighborhood PINTEREST boards for cool restaurants and bars.