Homefinding Guide

An independently owned and operated member of the Prudential Real Estate Affiliates, Inc.

Homefinding GuidePrepared for: [Buyers Name]

Prepared by: Matthew M. Smith, Broker-AssociateDRE #01809126Prudential California Realty3320 Grand AvenueOakland, CA 94610(510) 828-2732Matthew.Smith@PruRealty.com[Date]

Your Needs Come First• Finding and buying the right home is a highly

personalized process, and it all begins by identifying your needs.

· The values, interests and priorities you want this move to support.· The features you are looking for in a home.· How a neighborhood can best match your needs and lifestyle.· How the homefinding process will need to be tailored to fit your plans.· The support you expect to receive from me.

Our Professional Relationship

An overview of working together.• My commitment to you• Skilled service• How I am compensated• Your commitment to me

Agency Relationships

• When real estate professionals work with buyers and sellers, “agency” relationships are established. There are three kinds of agency relationships:

–Buyer’s Agent–Seller’s Agent–Disclosure dual agent

• When you agree to have me help you find and purchase a property, I become your “buyer’s agent”, which means I will work for your best interests throughout the entire process.

• When an offer is presented, the sellers will have a separate agency relationship with their broker.

Selecting the Right Home

Looking Ahead to the Homefinding Process

• The following questions will help identify how finding and buying a home can be an enjoyable experience for you.

· What is your time frame? · Who will be included in the homefinding and buying decisions?· Thinking of previous homefinding experiences, what were the most positive

features of those experiences? If you have never bought a home before, what are you looking forward to most in the experience?

· Were there any unpleasant features of your previous homefinding experiences that you hope to avoid this time? If you are buying your first home, are there any problems or concerns you are worried about?

· What are your expectations of me as your real estate professional? What specific services and support do you expect?

Defining Your Ideal HomeThe property you buy will be much more than a house; it will be your home. The following questions will help me find your ideal home:

· How many people will be living in your household?

· What would you consider a comfortable work commute?

· What are the most important activities for the members of your household?

· What is something you disliked about the house or area where you have lived previously?

· What are one or more features you liked most about homes you have lived in previously?

· What are the most important “must have” features of your ideal home and neighborhood?

How the Process Works

The Homefinding Process

• The homefinding process typically includes many of the following elements. I will be your resource and guide through every step.

Completing the Settlement Process

Reaching an Agreement with a Seller

Preparing an Offer

Finding the Right Home

Initial Consultation

Obtaining Financing

The Loan Process

For all your lending needs I suggest:

The Loan Process

A general guide.• Application • Ordering documentation• Awaiting documentation• Loan submission• Loan approval (underwriting)• Draw documents• Closing

Components of a Mortgage•A monthly mortgage payment can contain several

components:•Principal * The original balance of money loaned. • Interest * The charge for the use (loan) of money. •Property Taxes * The county assessor charges property taxes based on the value of your

home. [ Insert property tax due dates for your area.]• Insurance * Protection against loss resulting from certain hazards, such as theft or fire.•Private Mortgage Insurance (PMI) * Loans with smaller down payments involve greater risk for the lender, who

requires protection in case the loan goes into foreclosure. Anything less than 20 percent down payment usually requires PMI.

Loan Application Checklist•The following information is typically needed when applying for a mortgage.

• Purchase contract and property information• Personal information• Employment history and income• Assets• Liabilities and debts• Credit Report

Who Pays What?

Who Pays What The seller generally pays for:• Judgements, liens, etc. against the seller• Recording charges• Tax pro-ration• Unpaid Homeowner’s dues• Bonds or assessments• Delinquent taxes• Notary fees• Real estate commission• Document preparation fee for Deed• Document transfer and city transfer taxes • Loan fees• Payoff of all loans in seller’s name• Termite inspection and work• Home warranty

Who Pays What The buyer generally pays for:• Title insurance premiums• Escrow fee• Document preparation• Notary fees• Recording charges for all documents in buyer’s name• Tax pro-ration• Homeowner’s transfer fee• New loan charges• Interest on new loan• Assumption fees for takeover of existing loan• Beneficiary statement fee• Inspection fees• Home warranty

Evaluating the Condition of a

Property

Full Disclosure

Protecting all parties in the transaction.• Charm or irritant?• All systems go• “As is”• Environmental hazards

The Inspection ProcessThe condition of the property.• Termite report• Physical inspection• Geological inspection

The Escrow

A neutral third party.• A legal procedure for handling the transaction• Opened after mutual acceptance of the purchase offer• Preliminary title report• Title insurance

Common Forms of Ownership

General information.• Tenancy in common• Joint tenancy• Community property

The Distinctionof Prudential

• Reputation• Global Customer Base • Exposure • Recognition • Network Strength • High Standards

Power in the Name

– Our reputation – 42 offices– 1,700 Sales Associates– $3 Billion in Sales Volume– Over 6,500 transactions– Intensive in-house training– Fully-staffed Marketing Department

Resources of our Network

Your Marketing Professional

My Professional Credentials• Choosing the right real

estate representative– Experience

• Full-time Broker-Associate• MBA, Marketing

– Reputation– Personal Service

• Above and beyond

– Commitment– Customer Satisfaction– Testimonials

Pledge of Performance

Pledge of Performance

My commitment to you.• I will always represent your best interest.• I will keep in touch with you regularly.• I will do everything possible to help you find the right home at the best price and

terms.