Buying a Home with Turpin

BUYING A HOME WITH TURPIN

REPRESENTATION MATTERS

At Turpin, we appreciate that a real estate purchase is a major life event, and our entire team is committed to bringing clarity, efficiency and professionalism to what is often a very complex process.

Throughout the many phases of the deal, a Turpin agent is dedicated to providing their clients with:

— innovative and creative HOME FINDING STRATEGIES

— an informed and effective OFFER AND NEGOTIATION PROCESS — proactive and professional TRANSACTION MANAGEMENT

We take pride in delivering a level of superior service that has been renowned in north central New Jersey since 1960. Integrity, expertise, collaboration and professionalism are keystone values, and our agents consistently receive high marks from both buyer and seller clients.

In short, a good buyer’s agent can make a tremendous difference in the outcome of your home purchase. We look forward to the opportunity to guide you on this journey.

John D. Turpin, President

REPRESENTATION MATTERS...

... IN HOME FINDING

Every buyer wants to know that they’ve left no stone unturned in their search for the perfect home. A buyer’s agent brings expertise to help their client assess the full fit and range of housing options, so that they can make educated decisions with confidence.

... DURING OFFER , NEGOTIATION AND PURCHASE

Dedicated representation — need we say more? A buyer’s agent will help their client craft a compelling purchase offer. Then they will work diligently at the negotiating table and beyond to safeguard their clients’ interests throughout the entire process.

... WITH TRANSACTION MANAGEMENT

During a process that can last from weeks to months — with activities that range from house hunting to financing, navigating disclosures, scheduling inspections and repairs with trusted vendors, and much more — a buyer’s agent communicates with clarity, efficiency and purpose in their efforts to deliver a seamless experience for their buyer client.

Our Turpin agent was a savior during our home search, helping us understand the quickly shifting market, crafting compelling offers, and deftly negotiating. She kept her finger on the pulse of new listings and arranged viewings during our search, stayed on top of administrative needs after our offer was accepted, and was an excellent communicator throughout the process. Most of all, we knew she had our best interest in mind. We could not have asked for a better partner!

— C.R.

YOUR TURPIN AGENT ADDS VALUE DURING

HOME FINDING

Online search has brought the world of home shopping into our living rooms. Never before have so many people had access to so much information — from beds and baths, to taxes and sales history, and of course innumerable photos and videos — all in the palm of their hands. Yet even in a marketplace with relatively few homes for sale, buyers tell us that there’s more to a home search than finding properties online and opening doors.

Creating a daily email update with new listings is something that anyone can do. But with a thoughtful needs assessment, an experienced buyer’s agent will recommend properties that might have been overlooked otherwise. They will also save time for their buyer by having previewed homes, knowing when to skip a property that looks good on paper but won’t measure up. A good buyer’s agent curates the home search with knowledge and understanding of the inventory as it relates to the buyer’s needs.

A Turpin realtor’s personal knowledge of local housing inventory means they’re often aware of listings beyond Zillow and the multiple listing service. They will frequently know about homes before they come to market, and about others

HOME FINDING

that previously failed to sell but may yet present an opportunity. With diligent outreach, a resourceful agent can uncover prospective properties that were never on the market at all.

When a potential home has been identified, a buyer’s agent will

help their client assess the value of factors like the home’s location and condition, as well as the impact of contemporary market activity, all of which are critically relevant when developing an offer price.

“My Turpin agent’s expertise in the local market was evident as she presented a curated selection of properties that aligned perfectly with my preferences and requirements. Throughout the process, her excellent communication skills and attention to detail ensured that all my questions were promptly answered, and every step was clearly explained. Her dedication to finding the right fit for our family, combined with her professionalism and genuine enthusiasm, truly set my agent apart, and made the house-hunting experience a positive one. —O.G.

YOUR TURPIN AGENT ADDS VALUE DURING

NEGOTIATION & PURCHASE

From negotiating a purchase price to helping a buyer assess inspection results, a skilled buyer’s agent is at the ready with the resources, experience and knowledge that will facilitate a successful outcome of the purchase.

The art of crafting a winning offer requires a nuanced understanding of the competitive landscape , particularly in multiple-offer situations. A buyer’s agent is a sounding board and a spokesperson, helping to develop an offer that safeguards their client’s interests while positioning it for maximum appeal to the seller.

A buyer’s agent is well-read and informed about changing municipal, state and federal regulatory landscape as it relates to real estate transactions. From understanding

well water testing requirements, to knowing who can best answer a buyer’s questions about zoning, a qualified buyer’s agent stays abreast of conditions that may jeopardize a deal. They’re proactive in avoiding surprises at the closing table.

Navigating the myriad documents, disclosures and agreements that are required for any real estate transaction in the State of New Jersey is no small feat. A buyer’s agent understands the necessary paperwork and can explain it so that their client understands it, too. They will help their buyer to assess and interpret all materials. They know when further guidance from an expert is needed, and they maintain professional relationships that can be relied upon.

Our Turpin agent helped us throughout the entire process of negotiating existing home furnishings, completing a septic project, coordinating dates and times, and basically getting the job done to closing where others had not. —J.P.

YOUR TURPIN AGENT ADDS VALUE THROUGH DILIGENT

TRANSACTION MANAGEMENT

Buyers commonly tell us that their Turpin agent is an expert communicator. That’s no surprise to us. Realtors wear many hats. They’re marketers, salespeople, negotiators and trusted confidants. Among their most essential roles: quarterbacking the entire home-purchase process.

A diligent buyer’s agent will facilitate the home purchase transaction from start to finish, which involves coordinating people, paperwork, calendars and expectations for a streamlined outcome. A buyer’s agent communicates with their client proactively, understands their needs, anticipates bumps in the road and solves problems from the search phase throughout the transaction, which can last from weeks to months.

Buyer’s agents are super connectors. They have relationships with trusted professionals and will assemble an experienced team to provide critical services—from financing and attorneys to inspectors, roofers, plumbers, and more. In fact, Turpin agents have access to our proprietary

“vendor database, a selection of the finest local service providers preferred by our agents and their clients over the years.

If this seems like a lot, it is. Which is why Turpin agents have the assistance of a dedicated staff of support professionals and a management team that averages 27 years of experience in the industry. Our team works collaboratively to ensure that each agent is rooted in the institutional knowledge and learned experience of our firm, which informs their dealings with every client, at every level. This is how we deliver on our standard of excellence, and why our buyer clients benefit from working with a Turpin agent.

Our Turpin agent provided a keen insight into every twist and turn. She always seemed to anticipate issues ahead of time allowing [us] to avoid costly mistakes. Not too little and not too much but just right. Thank you! —K.D.

REPRESENTATION MATTERS

The process of finding and purchasing a home can last from a few months to a year — sometimes even longer. Throughout that period of time, a good buyer’s agent will perform hundreds of tasks over countless hours, guiding their client with patience and efficiency through a complex journey.

At Turpin, our agents leverage knowledge, experience, relationships and a team of support professionals to deliver the best possible outcome – from the initial search right through to the closing. Best of all, your Turpin agent will remain a resource to you forever, whether you need a vendor recommendation or would like an annual review of your home’s value.

Our Turpin agents look forward to partnering with you to help maximize value and streamline the process of purchasing your next home.

Some of the many ways— big and small— that buyer agents assist their clients with a home purchase

GUIDANCE AND CARE

• Explain agency relationships to the buyer and get state-required legal consent to represent, if needed

• Inform the buyer of working relationship based on state law, the REALTOR® Code of Ethics, and the broker’s business policies

• Explain how compensation is paid, who pays it, its benefits, and the buyer’s options for paying it; review the buyer representation agreement. Learn the buyer’s wants and nonnegotiable needs in order to match them with available properties.

• Partner with the buyer to locate suitable properties for consideration

• Understand the buyer’s budget and what will be needed financially

Help the buyer assess what property their budget will buy

Provide quality lender resources

• Continually re-evaluate buyer’s needs and refocus property showings to fit those needs

EDUCATION AND PREPARATION

• Explain Federal and State Fair Housing laws

Explain what to look for in applicable

property disclosures

• Inform the buyer that you will always disclose all known material defects

• Discuss available resources that the buyer can check to learn more about prospective neighborhoods

• Explain the timeline for house hunting, mortgage approval, and closing

• Review the sample sales contract so the buyer is prepared when it comes time to make an offer

Explain the local market and how it impacts the buyer

• Show statistics on what percentage of list price sellers in the area are currently receiving

Inform the buyer about what home features are popular

• Identify current average days on market and history of property

• Share the dangers and benefits of using price-per-square-foot analysis to calculate home values

Explain the concept of absorption rate and how it impacts the buying process

• Indicate current listing months of market inventory

• Share estimated potential outof-pocket costs to complete the transaction

Refer the buyer to loan officers for qualification

Prepare lender for listing agent calls

• Help the buyer identify homes that fit their needs

HOME FINDING

Set up buyer to receive timely notifications on availability of new listings that fit requirements

• Research and assist on all unlisted properties the buyer wishes to see Preview properties prior to showing when possible Network with other agents to source properties not yet in their local MLS broker marketplaces

• Contact homeowners in focus areas to see if they are considering selling

Arrange a tour of areas, schools, and key points of interest when possible

Provide resources containing neighborhood information on municipal

HOME FINDING (CONTINUED)

on any negative aspects, like nearby venues or operations that may result in issues that could impact value

• Collect and share any other vital information on available homes, remembering to follow all fair housing laws at all times

Supply buyer with contacts to check applicable zoning and building restrictions

Collect and share pertinent data on values, taxes, utility costs, etc. Help the buyer narrow the search until the buyer identifies top choices

OFFER AND NEGOTIATION

• Assist the buyer in getting the best property at the best price

• Prepare a comparative market analysis (CMA) in advance of making an offer

• Prepare the buyer to have the most attractive offer in the current marketplace

• Explain common contract contingencies and include approved protective clauses in the purchase offer

Ensure that the buyer receives and understands all state and federally required disclosure forms

Prioritize contract negotiation goals with the buyer

Help create a negotiating plan, which may include an escalation clause to maintain a competitive offer

Prepare the buyer for a multiple-offer situation and develop negotiation strategies

• Recommend optional contingencies and explain the pros and cons of using them

• Provide information on purchasing incentives that may be available

• Utilize hyperlocal expertise and strong communication skills to assist the buyer in developing a competitive offer Craft an offer that has a reasonable chance of being accepted

• Negotiate the buyer’s offers to arrive at the best price and terms

• Get property history

Review seller’s disclosure

TRANSACTION MANAGEMENT

Guide the buyer on meeting all contract deadlines

Coordinate communications among all parties involved

• Share trusted vendor contacts (home inspector, title company, attorney, appraiser, mortgage lender, etc.) and encourage the buyer to fully investigate their options

Present a list of the types of required and optional inspections such as environmental, roofing, and mold Attend home inspection with buyer

• Review and discuss home inspection concerns

• Help formulate repair requests from home inspection

Assist the buyer in questioning the appraisal report if it affects the financing

• Advise the buyer to review the settlement statement

Assist clients in transferring utilities to the new residence Schedule final walkthrough

• Accompany the buyer on the walkthrough

• Confirm clear-to-close with the lender

Ensure all parties have all forms and information needed to close the sale

Remind the buyer of the location where the closing will be held

Confirm the closing date and time, and notify parties if there are changes

• Check addendums and alterations for agreed terms.

• Explain wire fraud risks and remind clients to verify all wiring instructions before transferring funds

• Help buyer review all tax, homeowners’ association dues, utility, and applicable prorations, if relevant

Advise the buyer to re-key their locks and to consider a one-time cleaning service or landscaping before moving day

• Support the buyer in any final closing activities

• Make sure repairs have been completed and documentation relating to same has been received

POST CLOSING

• Check in to assist buyer with questions that arise

• Share the names of trusted vendors

• Offer an annual home valuation/market analysis

Note: This information is subject to errors and omissions as well as certain limitations inherent in dual agency, when applicable. Not all tasks will be required for each transaction as they are subject to the needs of the buyer and the actual transaction.