The Home Buying Process

SPECIAL POINTS OF INTEREST:

Your Journey to Home Volume 1, Issue 1

 Develop a budget  Set aside the difference in your current rent payment with your anticipated mortgage payment  Take the opportunity to check out different neighborhoods  Know your credit, get a copy of your credit report!  GET APPROVED W/ A LENDER  If you have questions GIVE ME A CALL. 6 STEPS TO PURCHASE

Talk to a Lender 1 Connect w/ Your Realtor CONTACT ME

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Property Search 3 Make an Offer

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Property Inspection

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Close

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Your New Responsibility

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The Best Gift a Realtor can receive is a referral and feedback on services provided.

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The Home Buying Process Buying a home is a big responsibility. Real estate is a large part of the US Economy; as the current financial crises has shown. Making the decision to become a home owner should take thought and planning while consulting your Real Estate Expert.

Prioritizing your needs and purchases while planning for an important major purchase starts you on the right track. Your credit history can help or hurt your financing options. Speaking with a lender at the early stages will reduce conflicts, time, and missed opportunities.

Ask your Agent if they are a member of the Board of Realtors. Realtors are held to a high ethical standard and are

bound by laws other Real Estate Salesperson are not. Do not be afraid of asking questions. Telling your Agent exactly what your are looking for and being open to discuss your current financial position is the best way to reach your goal.

AGENTS ARE NOT PSYCHIC, Be specific, voice your concerns, stay in contact .

Disadvantage to Renting: 1. Little Personal Freedom 2. No long-term benefits 3. Uncontrolled rent increase Advantages to Purchasing: 1. Equity Building 2. Freedom of Décor & lifestyle 3. Tax Benefits 4. Security & Stability

Its More than Buying a home

Remember!

Your agent works for you and is acting in your best interest..

RENTING VS PURCHASING Advantages to Renting: 1. Moving Flexibility 2. Little/No Maintenance

Commerci

Rental

Residential al

VACANT LAND

Take the first step: Call or Email Tiffany Hamilton, Realtor Armor Realty of Tallahassee Main: 850.210.5821 Fax: (888)772-0114 Tiffany@TiffanyHamilton.com

For Custom Home Search visit me at www.TIFFANYHAMILTON.COM Or Call to schedule a private consultation

There are many options in real estate. The key is to find the option that suits your needs.

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Don’t Just Take My Word-Research

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reat customer care is my number one goal for every real estate transaction.

My role is to provide detailed, accurate and timely information throughout the home sale transaction so my clients can make the best decisions possible.

If you are selling or buying a home, please contact me for exceptional customer service or recommend me to friends and family, and I will provide them with the same thorough service.

Tiffany

There are hundreds of online locations and practically everyone claims to be a real estate expert. However, there are a few try and true locations that provide up-to-date information on the real estate market. The national association of real-

tors provided up to date statistic and market research. Your local realtor and real estate board gives you access to local programs and events. Friends and relatives are a good source for real life experiences, but rely on a expert.

FREQUENTLY ASKED QUESTIONS Questions and Answers provided by HUD.Gov

funded housing counseling agencies that can help you sort through your options. stead of rent? Answer: A Also, contact your local govhome is an investment. ernment to see if there are When you rent, you write your monthly check and that any local home buying programs that might work for money is gone forever. But you. Are there special when you own your home, homeownership grants ? you can deduct the cost of Answer: There is help availyour mortgage loan interest able. Start by becoming fafrom your federal income taxes, and usually from your miliar with the home buying process and pick a good real state taxes. This will save you a lot each year, because estate broker. Get prequalified so that when you the interest you pay will find a house you like in your make up most of your monthly payment for most of price range you won't have the delay of trying to get the years of your mortgage. qualified. Contact one of the You can also deduct the HUD-funded housing counproperty taxes you pay as a homeowner. In addition, the seling agencies in your area to talk through other options value of your home may go for help that might be availaup over the years. Finally, KNOWLEDGE IS ble to you. Should I use a you'll enjoy having someKEY. WORK WITH real estate broker? How do thing that's all yours - a YOUR REALTOR TO home where your own. Can I find one? Answer: Using HELP YOU a real estate broker is a very I become a homebuyer ACHIEVE YOUR even if I have I've had bad good idea. All the details involved in home buying, HOME BUYING credit, and don't have particularly the financial much for a downUSEFUL SITES ones, can be mind-boggling. payment? Answer: www.Realtor.com A good real estate profesYou may be a good www.federalhousingtaxcredit.com candidate for one of the sional can guide you through the entire process and make www.HUD.gov federal mortgage proWww.floridahousing.org grams. Start by contact- the experience much easier.

A real estate broker will be www.tbrnet.org ing one of the HUDwell-acquainted with all the YOUR

Every buyer has a different experience and unless they are in the industry, what may have worked 5 years ago may not be the same today. Everything your Realtor tells you can be checked and verified. Ask for reference locations.

Why should I buy, in-

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important things you'll want to know about a neighborhood you may be considering...the quality of schools, the safety of the neighborhood, traffic volume, and more. He or she will help you figure the price range you can afford and search the classified ads and multiple listing services for homes you'll want to see. With immediate access to homes as soon as they're put on the market, the broker can save you hours of wasted drivingaround time. When it's time to make an offer on a home, the broker can point out ways to structure your deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages, guide you through the paperwork, and be there to hold your hand and answer lastminute questions when you sign the final papers at closing. And you don't have to pay the broker anything! The payment comes from the home seller - not from the buyer. HUD home, you will be required to use a real estate broker to submit your bid. To find a broker who sells HUD homes, check your local yellow pages or the classified section of your local newspaper.

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My Statement to You “To provide exceptional service, making the home buying and selling process so exciting that you can’t wait to tell you friends, family, and acquaintances that Tiffany Hamilton is your REALTOR® for life.”

Tiffany Hamilton, Realtor

Getting Pre-Qualified for a Home Loan A number of factors determine the price range of homes you will want to preview– on is the loan qualification value. Have the following items ready when you contact one of our preferred lenders.

Courtesy of

First Question Check Credit Score

Past Due balances

Currently Employed

Car Payment

List of Monthly

Bankruptcy

Second Question

Special Offer When you close on your

Bank Account

Medical bills

Foreclosure

Collection Accounts

Eviction

Hamilton, you will receive a Housewarming Name Address

fany Hamilton your Real Estate Agent.

Phone

Quick Notes:

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Types of Loans 203K FHA Conventional

Fourth Question

Student Loans

new home with Tiffany

Planner courtesy of Tif-

Third Question

Notes:

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Why Should you use a REALTOR? Technology has definitely changed the way we live and work. And it's no different for real estate.

Today, there are multiple resources at consumers' disposal. The Internet has become a popular tool for homebuyers to peruse the listings in any city or state. Besides home searches, consumers can find information about communities, schools, mortgage op-

tions, and even property appraisals. With this wealth of information, should you still have a real estate professional represent you during your home -buying process? Absolutely.

Given the sizeable monetary outlay—possibly the single largest financial transaction in a person’s lifetime—it seems reasonable, even smart, to call in a specialist.

Ask yourself, who better to know the home buying process and resources needed for a smooth transaction? He or she

knows the local area including home values, taxes, utility costs, and school data, and may even be knowledgeable about resources pertaining to your special interests or needs.

As your single point of contact, we can manage the entire transaction and helping prepare for a smooth and uneventful closing.

If you’re about to begin the process of buying or selling a home, consider involving a real estate professional. When the stakes are high, it’s comforting to have a specialist by your side.

This is a major

Steps to Owning a Home I will guide you through this process, answer your questions on what you should expect from a REALTOR®, help you find where to look for financing, and what to prepare for closing a successful transaction.

Here are a few steps : 1. Are you ready?

Do you know what you want, do you have the money, is your financial house in order?

2. Finding a REALTOR® Well,.. you have come to the right place. But, seriously.

Are you working with someone who is a professional, who knows the market, who can provide to you a track record of sales and listings and who is a full time REALTOR®?

3. The Pre-Approval This is most often a requirement when presenting offers is today’s market. It means that you have begun the process of working with a lend-

er, that you are serious about your decision, that you are ready, willing and able to purchase a home. I will help you find a lender you are comfortable with....(STAY AWAY FROM INTERNET LENDERS!!), someone who we can communicate with directly!

4. Looking at Homes What are the important and necessary elements of a home. Relaying this information to your REALTOR® will insure that we are on the same page, that we do waste time looking for something that will not fit your needs or lifestyle. There are many

step but you are not going ways a REALTOR® will present properties to you during this process. This is where the fun begins!

5. Choosing a Home You will know it when you walk in it. Trust me on this one.

6. Making an Offer – The Sales Contract It’s not as scary as it seems. I will explain each clause and make sure that you are comfortable with this step!

7. Due Diligence There will be deadlines for you, and for the seller once a Contract has been fully accepted and executed. I will coordinate these details for you!

8. Closing Making sure that all details have been taken care of, including title work, surveys and lender required inspections is the last step. Again.. I will coordinate these details for you!

9. What’s Next?

Moving,.. enjoying your new home

through it alone.

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