EST. MONTHLY PAYMENT

$
$
%

Monthly Payment $267.72

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Our 10+ Customer Service Commitment

As the REALTOR® you have chosen to exclusively represent you in the

purchase of your new home, we promise that we will:


  • • Provide you with exceptional customer service during the entire transaction
  • • Organize and schedule your home search process
  • • Discuss the benefits and drawbacks of each home in relation to your specific needs
  • • Provide you with on-going live-time updates on available homes
  • • Help you compare the value of homes and guide your decision making process
  • • Advise you on terms and issues of the offer and fill out the purchase offer contract
  • • Present your offer and negotiate on your behalf
  • • Coordinate and supervise the preparation of all closing documents
  • • Help you resolve any closing issues
  • • Coordinate move-in and assist with any post-closing issues
  • • We will be your biggest advocate and help you through everything!


Our expectations of you:


• Honesty throughout the whole home-buying and selling process

• Professional and timely level of communication

• Loyalty to our services

• Continuous feedback about your goals or changes

• Referrals to other people who we might be able to help after we have met your goals


Find a Realtor to discuss your home buying needs

and wants.

Get pre-approved to determine what you can afford

and all the costs involved.

House Hunting

Make and offer and negotiate with the seller.

After the offer is accepted, get an inspection and

negotiate repairs with the seller.

Go to closing at the title company.

Congratulations! You are a New Home Owner!

Step 1: Find a Realtor


Enlisting the services of a Lancashire Group professional buyers’ agent is similar to using

an accountant to help you with your taxes, a doctor to help you with your health care, or a

mechanic to help you with your car. A Lancashire Group Realtor will take care of all the

hassles of every day real estate transactions for you. Our group will guide you through

the home buying process and exclusively represent your interests as we help you find a

home, present and negotiate your offer, and close on your new home!


Step 2: Get Pre-Approved for a Mortgage


You will need to get pre-approved for a loan before you find the home you want to buy.

1. Generally, interest rates are 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.

2. You won’t waste time considering homes you can’t afford.

HOW MUCH CAN YOU AFFORD? There are three key factors to consider:

1. The down payment.

2. Your ability to qualify for a mortgage.

3. The closing costs associated with your transaction.

DOWN PAYMENT REQUIREMENTS:

Most loans today require a down payment of between 3.5% and 10% depending on the

type and terms of the loan. If you are able to come up with a 20-25% down payment, you

may be eligible to take advantage of special fast-track programs and possibly eliminate

mortgage insurance.

CLOSING COSTS:

You will be required to pay fees for loan processing and other closing costs. These fees

must be paid in full at the final settlement unless you are able to include them in your

financing. Typically, total closing costs will range between 2-5% of your loan amount.


Step 3: House Hunting


There are many factors to consider when selecting a neighborhood that is right for you.

Below are just a few of the many factors – you may think of others that are important to

you. Neighborhoods have characteristic personalities designed to best suit single people,

growing families, two-career couples, or retirees.


SCOUT THE NEIGHBORHOOD!

It is important that you scout the neighborhood in person. After all, you live in more than

your house.

• Talk to people who live there.

• Drive through the entire area at different times of day, during the week and on the

weekends.

• Look carefully at how well other homes in the area are being maintained. Are

they painted, are the yards cared for, are the cars parked in good condition, etc.?


Step 4: Make an Offer and Negotiate


Once you have found the home you wish to purchase, you will need to determine what

offer you are willing to make on the home. It is important to remember that the more

competition there is for the home, the higher the offer should be – sometimes even

exceeding the asking price. Remember, be realistic. Make offers you want the other party

to sign!

To communicate your interest in purchasing a home, we will present the listing agent

with a written offer. When the seller accepts an offer it becomes a legal contract. When

you write an offer you should be prepared to pay an earnest money deposit. This is to

guarantee that your intention is to purchase the property…also called good faith money.

After we present your offer to the listing agent it will either be accepted, rejected, or the

seller will make a counter-offer. This is when we will negotiate terms of the contract if

necessary.

The step-by- step contract procedure for most single-family home purchases is standard.

The purchase agreement used is a standard document approved by our local real estate

board.

The purchase agreement or contract constitutes your offer to buy, and once accepted by

the seller, becomes a valid, legal contract. For this reason, it is important to understand

what is written on the contract offer. For your convenience, we have included a copy of

an offer in this packet.


Step 5: Inspection and Repairs


If you are purchasing a resale property, you will have a professional home inspector

conduct a thorough inspection that includes the following:

• Appliances

• Plumbing

• Electrical

• Air Conditioning and Heating

• Ventilation

• Roof and Attic

• Foundation

• General Structure


The inspection will report on major damage or serious problems that require repair.

Should serious problems be indicated, the inspector will recommend that a structural

engineer or other specific inspectors inspect it as well.

Your home cannot “pass or fail” an inspection, and your inspector will not tell you

whether he/she thinks the home is worth the money you are offering. The inspector’s job

is to make you aware of any repairs that are recommended or necessary.

The seller may be willing to negotiate completion of repairs or a credit for completion of

repairs, or you may decide that the home will take too much work and money. A

professional inspection will help you make a clear-headed decision. In addition to the

overall inspection, you may wish to have a separate test conducted for termites, which is

recommended.

You may elect to be present for the inspection. We recommend that if at all possible, you

are there for at least the last 30-60 minutes of the inspection so you can get answers to

any questions you may have. Also, you may be able to get tips for maintenance and a lot

of other general information that will help you once you move into your new home.


Step 6: Go To Closing


WHAT IS A REAL ESTATE CLOSING?

A “closing” will take place at the Title Company. It will last approximately 45 minutes to

1 hour and it is painless. You will sign a lot of papers during the closing and will receive

copies of everything that you sign either in hard copy form, or emailed to you, it will be

your choice.

You will get the keys to your new home once your loan funds. It usually takes 2-3 hours

after signing the documents for funding to go through. The title company will have the

keys and call you after funding so you may swing by to pick them up.

At closing, you will be required to pay all fees and closing costs in the form of

“guaranteed funds” such as a cashier’s check or wire transfer. Your agent or escrow

officer will notify you of the exact amount due at closing.