• Interest rates are usually locked in for a set period of time. You will know in advance exactly what your payments will be on offers you choose to make.
• You won’t waste time considering homes you cannot afford.
• You can select the best loan package without being under pressure.
• Seller may choose to make concessions if they know that your financing is secured, and this may make your offer more competitive.
• Estimate purchase costs and explain them in detail.
• Explain financing alternatives to help you select the one best suited for you.
• Discuss home styles, availability, location, schools and any specific features that you desire.
• Explain the Offer to Purchase Agreement in detail, as well as the Multiple Listing Service (MLS).
• Prepare a market report, pricing recommendations and an estimate of equity from the sale of your present home, if applicable.
• Provide you with information on all properties currently for sale, including new and pre-owned homes, single family homes and condominiums.

• Discuss the benefits and drawbacks of each home in relation to your specific needs.
• Keep you informed on a regular basis.
• Check the MLS data base and with other brokers daily for new listings that meet your criteria.
• Prepare an itinerary and tour map on which all homes meeting your criteria have been located.
• Keep you up-to-date on changing financial conditions that may affect the housing market.
• Be available to answer your questions or to offer assistance regarding your home purchase.
• Discuss market trends and values relative to properties which may be of interest to you.

Assist you with homes offered by "For Sale By Owner". A homeowner trying to sell his home himself is usually doing so in hopes of saving the commission. Coincidentally, this is the reason a buyer wants to deal directly with a homeowner. Many times a homeowner will work with an agent, even though his home is not listed, if the agent introduces the buyer to the property. If you should see a FSBO and want the advantages of our services, please let us contact the owner and set the appointment.

Show you new homes as well as pre-owned homes if you desire.

Introduce you to local builders to discuss building your next home. We can work with most builders and can get all the information you need to make any decision, but we will need to accompany you to the property on the initial visit. By letting us help you with builders, you get all the services offered in this presentation and those offered by the builder as well. You’ll get more, but you won’t pay more for it.

• Prepare an offer to purchase agreement and explain each detail.
• Provide you with copies of all the documents involved in the purchase agreement and financing.
• Assist you in determining the appropriate financing and help you select the best financial institution to handle your mortgage.
• Accompany you to the loan application if you so desire.
• Provide you with a loan application checklist.
• Provide you with an estimated cost of closing or settlement including points, title insurance, appraisals, credit reports, etc. prior to the loan application.
• Make arrangements for the mortgage application.
• Coordinate any necessary inspections of property to evaluate the major elements of the home.
• Assist in securing interim financing if your present home has not yet sold.

Confirm the mortgage loan approval, which may include the following:

• Loan Commitment
• Credit report
• Appraisal
• Verification of Employment
• Verification of Assets
• PMI
• Submission to underwriter
• Verbal approval
• Written approval
• Need to amend contract
• Provide you with a transaction checklist of items to prepare for the closing.

Coordinate the following as applicable to your transaction:

• Occupancy permit
• Survey
• Home Warranty Application
• Special Agreements
• Amendments
• Escrow agreements
• Lien Waivers
• City Letters
• Title Policy
• Closing/escrow statement
• Affidavits
• Authorization to deliver deed

Provide you with a closing checklist of items to prepare for the closing or settlement.

Remind you to coordinate the following one week prior to closing or settlement:

• Transfer utilities
• Check keys
• Check Electric Garage Door Openers

A personal consultation will help The DeHanas Team find you the type of home that meets your needs. The DeHanas Team will also discuss your financial situation with you in order to determine the price range that will be suitable, if you have not already been pre-qualified. It is important for The DeHanas Team or your lender to know:

• How much of your savings you intend to use toward down payment and closing costs.
• Your annual gross income (before taxes).
• The length of time with your current employer and previous employers, for the past 2 years.
• Your monthly payments on long term debts (such as a car payment) & credit card balances.
• Child care expenses and/or alimony, if any.
• Whether or not there have been any bankruptcy or credit problems.

Financing Options
Depending upon the price of the home and/or the amount of your down payment, there may be several options that fit your needs. They include VA (for military veterans only) which allows 100% financing of the purchase, FHA (Federal Housing Administration) which allows purchase with as little as 3% down and CONVENTIONAL, generally the best option when putting down 20%. In addition to these traditional methods, a variety of other creative financing includes Owner Financing, First Time Home Buyer Programs, Loan Assumptions, and Lease Purchase.

In negotiating the purchase of your new home, the initial step will be to make an offer to purchase. This offer should be in writing and accompanied by an earnest money check to show good faith.
The offer will include:

• The amount you are willing to pay.
• Financing terms
• Any personal property specifically included.
• Loan commitment date.
• Closing and occupancy date.
• Other contingencies, including inspections

The offer will be written on a standard Realtors contract form. If the initial offer is not accepted by the Seller, further negotiations generally reach terms agreeable to both Buyer and Seller. When Buyer and Seller agree on terms, the Buyer immediately applies for financing and arranges for inspections. Linda Bennett, The DeHanas Team Escrow Manager, will assist you in these processes.

Earnest Money Deposit
At the time a written offer on a property is initiated, you will be required to make a deposit in the form of a personal check or cashier’s check. The amount deposited will be kept in the trust fund account of DeHanas Real Estate and will not be turned over to the Seller. This money represents your sincerity in the attempt to purchase and is fully refundable if the offer is not accepted, if your loan is not approved or if some other condition of the contract is not met by the Seller. You should anticipate a minimum of $1,000 for homes under $100,000. In homes over this price range, expect to deposit one to five percent of the purchase price. The check will be made out to DeHanas Real Estate. This earnest money will be credited to you at closing as part of your down payment and/or closing costs.

Title Insurance
When property is sold or refinanced, the lender and/or Buyer needs a preliminary title report to see exactly what liens and encumbrances are against the property. Items that a preliminary title report show include:

• Easements of record.
• Restrictions, covenants and conditions.
• Liens and/or judgements.
• Exact vested owner of record.
• Legal description.

When the sale of the subject property is final and the title company has recorded the necessary documents, they then will issue a policy of title insurance to the new lender and the buyer showing clear title to the property.

After your initial counselling appointment, The DeHanas Team will have a good idea of your wants, needs, price range, and location and will enter your requirements in the Multiple Listing Service (MLS) computer. From the many listings in its inventory, the computer will print a list of homes tailored just for you. The DeHanas Team will make arrangements to show you those that seem to meet your desires.

As you walk through the homes, feel free to open the cabinets and closets. Most often the Sellers will be absent, but should they be present, they will understand your need to examine the home carefully. When a home appeals to you, make notes. It is easy to forget details. Often there will be a brochure available for you to take along to help you recall the home as you review your tour, and whenever possible, The DeHanas Team will have given you a copy of the MLS information on homes you are viewing.

Don’t be surprised if the first home you see is the perfect one for you and don’t be discouraged if none of those you visit the first day are what you want. The DeHanas Team is committed to finding the one that you will want to call ‘home’ and will work diligently until you find it. Usually, The DeHanas Team will be able to find the home of your dreams rather quickly and will find 3-5 homes that best fit the desires you expressed.