Home Buyer s ProGuide Workshop

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1 Home Buyer s ProGuide Workshop Getting Started Mike Wong, Realtor October 2018 Taylor Properties 175 Admiral Cochrane Dr., Suite 112 Annapolis, Maryland 21401

2 TOPICS 2 Challenges to Buying a Home Home Buyer s Checklist Home Buyer s ProGuide Website Organizer Overview Organizer Demonstration Organizer Getting Started

3 CHALLENGES in Buying a Home 3 Qualifying for a mortgage Determining your wish list Compromising on wish list, location, & price Understanding cost of home ownership

4 Home Buyer s CHECKLIST 4 Get Ready Decide how much you can spend for your down payment. Set aside your down payment with at least 3 months prior to applying for pre-approval or mortgage. Check your credit reports to find out your status. Your credit report affects a lender s willingness to give you a loan, and if there s a mistake that negatively impacts you. Pay down or payoff as much debt such as credit cards and auto loans.

Home Buyer s CHECKLIST 5 Professional Help Get an idea of how much you can borrow. Determine your monthly payments including property taxes and insurance (mortgage and property).

5 Home Buyer s CHECKLIST 5 Professional Help Get an idea of how much you can borrow. Determine your monthly payments including property taxes and insurance (mortgage and property). Find a potential lender. Get preapproved for a loan. You won t waste time looking at houses you can t afford. Plus, a preapproval letter will demonstrate your viability as a buyer. Find a real estate agent. An agent, who will be paid by the seller, can do a lot of the legwork for you. Interview several candidates. Decide who you re most comfortable with, and contact references if possible.

6 Home Buyer s CHECKLIST 6 House Hunting Research potential neighborhoods. Investigate issues like crime rate, schools, local services, proximity to museums or other institutions that are important to you, commuting distance, ethnic diversity, and property taxes. Make wish list of features you want in a house. Divide it into must-haves and like-to-haves. Go house hunting. Read the newspaper real-estate section, check out online sources (ex. zillow.com), go to open houses, and visit homes recommended by your real estate agent.

Home Buyer s CHECKLIST 7 Buying Home Determine your contingencies. Typical contingencies are home inspection, mortgage financing, home-sale, and appraisal. Shop for a mortgage lender.

7 Home Buyer s CHECKLIST 7 Buying Home Determine your contingencies. Typical contingencies are home inspection, mortgage financing, home-sale, and appraisal. Shop for a mortgage lender. Look for the best rates and terms and a good-faith estimate of closing costs. Shop for a title company. Get three quotes to include title insurance and any upfront costs. Make an offer. Your Buyer s Agent will negotiate with Seller s Agent. Provide earnest deposit to your real estate agent. Determine contingencies. Get an inspection. Find a qualified inspector. Ask seller to remediate defects identified during inspection.

Home Buyer s CHECKLIST 8 Home Closing Obtain estimated closing costs from your lender and title company. Attend home closing at your title company.

8 Home Buyer s CHECKLIST 8 Home Closing Obtain estimated closing costs from your lender and title company. Attend home closing at your title company. Get a check for your down payment and closing costs. Sign a lot of paperwork. Scheduling home repairs and renovations. Organize your move and start packing your belongings. Select a moving company or ask friends/family to help move.

9 Home Buyer s ProGuide WEBSITE First-Time Buyer Your Next Home Retirement Neighborhoods Financing Frequently Asked Questions (FAQs) 9

10 Home Buyer s ProGuide WEBSITE 10 First-Time Buyer Who is a First-Time Homebuyer? Financing and how much can you afford? Homebuyer Assistance Programs Finding a Good Realtor House Hunting Tips

11 Home Buyer s ProGuide WEBSITE 11 Your Next Home Preparing Your Home Home Evaluation and Repairs Find a Listing Agent Marketing Plan Understanding Housing Market Closing the Sale

12 Home Buyer s ProGuide WEBSITE 12 Retirement Evaluating Your Retirement Needs Retirement Communities Retirement Community Checklist

13 Home Buyer s ProGuide WEBSITE 13 Neighborhoods Schools Crime Shopping Entertainment and Amenities

14 Home Buyer s ProGuide WEBSITE 14 Financing Types of Loans Credit Score Your Down Payment Interest Rates and Discount Points Monthly Mortgage Payments

15 Home Buyer s ProGuide WEBSITE 15 Frequently Asked Questions (FAQs) Buyers Sellers Financing Retirement

16 Overview 16 Home Buyer s ProGuide Organizer helps you stay organized as you search and evaluate potential homes to buy. It tracks potential homes, maps homes, maintain your home wish list, and track appointments with your real estate agent. Plus, there are electronic checklists to help you stay on the home buying track. You get a buyer s checklist, a seller s checklist, and a financial checklist for obtaining a mortgage.

17 Features 17 Enter and track your home wish list. Enter and track potential homes. Manage your appointment calendar for visiting potential homes. Manage and update your buyer s, seller s, and financial checklists. Display personal dashboard to manage your wish list, compare potential homes, track appointments, and checklists.

18 Demonstration DASHBOARD 18 The dashboard provides a snapshot of your home buying progress.

19 Demonstration MENU Click on a menu item or hover over it to display a hint. 19 Enter and update home wish list Update home search criteria Add and update potential homes to compare to make an offer Manage appointment calendar View and update buyer s checklist View and update seller s checklist View and update financial information checklist Update your contact information

20 Demonstration ICONS 20 Organizer features are accessed by clicking on these icons. Hover over the icons to display hints or actions when you click on them.

21 Demonstration CHECKLISTS 21 Checklists are available to keep you organized and can be customized.

22 Demonstration WISH LISTS 22 Create your home wish list and check if your potential home meets your wishes.

23 Demonstration POTENTIAL HOME 23 Display information on a potential home including appointments and wish list.

24 Demonstration HOME COMPARISON Easily compare potential homes. 24

25 Demonstration HOME APPOINTMENTS Track home appointments on your calendar. 25

26 Getting Started Register and create a username and password. 2. Access Organizer to complete your Home Search Profile and Contact Information. 3. Create wish list for your dream home. 4. Click on the icon to search for homes on Zillow. 5. Add potential home by entering their street address from Zillow. 6. Schedule home appointments with your Realtor and add them to your appointment calendar. 7. For each home, determine if they meet the wishes in your list.

27 Getting Started Review the Buyer s and Financial Info Checklist and work through each item. Mark them complete when done. Add or delete items to customize checklist. 8. Selling your current home, review the Seller s Checklist and work through each item. Mark them complete when done. 9. Review the potential homes and select a home to submit an offer. 10. If your offer was accepted by the seller, it s time to work through the rest of the items on your buyer s checklist.

28 Getting Started REGISTER 28 Register to create a username and password.

29 Getting Started WHO ARE YOU? 29

30 Getting Started CONTACT INFORMATION 30

31 Getting Started HOME SEARCH PROFILE 31

32 Getting Started CONTACT US 32 Send your questions and suggestions using this form.

Home Buyer s ProGuide Questions CONTACT INFORMATION 33 Mike Wong, REALTOR Direct: 301-642-9122 Email:

33 Home Buyer s ProGuide Questions CONTACT INFORMATION 33 Mike Wong, REALTOR Direct: mwong@hbproguide.com Taylor Properties 175 Admiral Cochrane Dr., Suite 112 Annapolis, Maryland Broker Line:

HOMEBUYERS GUIDE STEPS TO HOMEOWNERSHIP

HOMEBUYERS GUIDE STEPS TO HOMEOWNERSHIP STEPS TO HOMEOWNERSHIP 1 GET STARTED When it comes to buying a home, there are a few tips and tricks you should know. Knowing the following items about buying a home can save you a lot of stress and headache