Copy of Updated Buyers Packet

buying a new

Home

Close up white marble granite from table, Marble granite white background

Hello!

i'm KEOSHA KIRVEN

real estate agent

Thank you for allowing me to guide you throughout your home buying process. When it comes to real estate I am the epitome of excellence, integrity, and exceptional service. With an unwavering dedication to my clients success, I am ALWAYS committed to ensuring that ALL of your real estate needs are not just met, but exceeded! I’ve created this book for your convenience and I hope that it will be a valuable resource during your move. While the entire process is outlined for you, please know that I will be staying in constant contact with you throughout the process. My focus is on your complete satisfaction from start to finish!

682.287.7096 KEOSHAKIRVEN@monumentstar.com

STEPS TO A NEW HOME

Modern home with intricate detail throughout

FIND THE RIGHT

agent

Buying a home is one of the most significant purchases in a lifetime. It is essential to have an experienced agent in your corner, always looking out for your best interest. A buyer agent’s fiduciary responsibility is to represent the buyer and to ensure that their interests are protected.

After all, a seller has someone in their corner. A listing agent has an allegiance to the seller. Their goal is to get the seller top dollar for their home. There is incredible value in having someone working for YOUR best interests when buying a home.

Questions to ask an agent while interviewing:

How much are all your fees?
How long is YOUR contract?
Can I cancel the contract early?
How long have you been in the real estate business?
Can I ask for some references?
How many clients are you servicing right now?
Before looking at homes, do you first require a client to get a pre-qualification letter from a lender?
How do you assist buyers in closing the deal?
How can I communicate with you?
What are youR hours?

TO YOU

commitment

GETTING YOU IN THE DOOR

We will narrow down the homes that fit your unique wants and needs get you in the door! Looking at dens of homes every week, it can help you identify potential problems within a home.

HANDLING CHALLENGING CONVERSATIONS

When repairs or changes in price need to be made, I will be your guide and handle requesting any repairs or changes in price to the sellers.

STAYING ON TOP OF THE PAPERWORK

Buying a home involves many types of documentation. I have the experience and knowledge to navigate real estate contracts. Ensuring that nothing is overlooked and that you truly understand what paper means before ever signing on the dotted line.

ON YOUR SIDE

A buyer's agent will represent your best interests. With a pulse on the local market and a sound understanding of how various amenities affect the value of a home, we will make sure we submit a competitive offer on the right house for you.

NEIGHBORHOOD EXPERT

Working daily in neighborhoods with inspectors, contractors, and negotiating with sellers. I have the market knowledge you need to get the best results from your purchase. Understanding the local real estate market can go a long way when it comes time to make an offer on a house.

PROBLEM SOLVER

I will work hard to protect all of your interests and take on any issues that may arise throughout the entire process. Hopefully making buying a home a fun and stress-free process

your finances

PREPARE

Mortgage lenders recommend you do not stretch yourself beyond buying a home that is more than 3 to 5 times your annual household income. If you are not purchasing a home with cash, you will need a mortgage pre-approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs. Some buyers are concerned with keeping their monthly payments as low as possible, while others are most focused on keeping their cash due at closing as low as possible.

SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES

In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspection:

A Down Payment is typically between 3.5% & 20% of the purchase price
Earnest Money is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit.
Closing Costs for the buyer run between 2% & 5% of the loan amount
A Home Inspection costs $300 to $500

Financials and Mortgage Payment

Study your credit report. Make note of any errors you see and talk to your lender about them.

Compile necessary documents, including pay stubs, bank statements, and past tax returns.

Determine how much of a payment you are comfortable with. Don’t forget you will have taxes, insurance, and HOA fees on top of your base mortgage payment!

682.287.7096 KEOSHAKIRVEN@monumentstar.com

research lenders & get PRE - APPROVED

Credit score and financial documents in hand, you’re ready to start researching options for your home loan.

Find out if you qualify for a special loan, such as a Veterans Affairs (VA) loan or any special home buying financing options through state or federal programs.

Make sure you get that mortgage preapproval letter — it’ll make you a more competitive buyer.

Note: Being pre-approved, unlike being pre-qualified, means you've actually been approved by a lender for a specific loan amount. You will need to provide documented financial information (income, statements, assets, debt & credit reports etc.) to be reviewed & verified by the lender.

Research Mortgages and Lenders

Find out if you qualify for a special loan, such as a VA, FHA, or HUD home buying program.

Request quotes from multiple lenders and comparison shop for loans.

Get preapproved for a mortgage and receive your letter

682.287.7096 KEOSHAKIRVEN@monumentstar.com

START

HOME

shopping

Make a list of the things you'll need to have in the house. Ask yourself how many bedrooms and bathrooms you'll need and get an idea of how much space you desire. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard for your kids and/or pets to play in?

Once you've made a list of your must-haves, don't forget to think about the kind of neighborhood you want, types of schools in the area, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns as well as how good the rate of home appreciation is in the area.

TIPs

Evaluate the neighborhood and surrounding areas.
Are the surrounding homes well maintained?
How much traffic is on the street?
Is it conveniently located to schools, shopping, restaurants, & parks?

Home & area wishlist

Get a head start by compiling your home wish list.

Spend time in each area, imagining yourself living there.

Find properties in your price range in your preferred neighborhoods.

Visit open houses and have one of our team members schedule private showings.

682.287.7096 KEOSHAKIRVEN@monumentstar.com

MAKE AN

offer

Your finances are in order, your ideal neighborhoods identified — next up is finding that perfect property and making a competitive offer. More importantly, one that is accepted over other offers. As more and more people are looking to become homeowners, it’s important to prepare yourself for the mortgage process, home search, bidding wars, and what you’ll do next if you do not get the home of your dreams.

Here are my strategies to getting your offer accepted!

competitive

offer

A good rule of thumb, specifically in a seller’s market, is to start strong. To do this, we will assess the property’s market value with a CMA and determine what it's worth in the current market.

earnest

money

This deposit signals how serious a buyer you are. Try doubling the amount that the seller requests or that is customary in the area. So, be sure you do not back out of the contract for no good reason. If you do, you’ll lose your earnest money.

gift of

time

Express your willingness to work with the sellers’ timetable to go to closing. We can ask the sellers when their ideal closing date would be so the offer will make them feel like they are winning!

make a

connection

Tell the seller why you love their home. Is it the neighborhood park or access to top-rated schools? Maybe the kitchen size and design is everything you’ve dreamed of? Speak up! Establishing rapport with the sellers can tug at their emotions. So, help them to remember your name when they review potential offers.

Contingencies can add time to the negotiation process. They’re beneficial to buyers, but can be a nuisance to sellers who are ready to move on fast. It’s important to avoid any unnecessary contingencies. According to the National Association of Realtors, the offer with the fewest contingencies is often the most attractive.

limit

Contingencies

the offer

process

The offer gets accepted OR declined.

First Offer

Submitted

If declined, the seller thinks your offer isn’t close enough to their expectations to further negotiate.

A counter-offer is when the seller offers you different terms. If this happens, you can:

Counter

•ACCEPT THE COUNTER OFFER

•DECLINE THE COUNTER OFFER

You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away.

Repeat

Once all parties agree on all the terms, you are officially under contract! CONGRATS!

Accepted

682.287.7096 KEOSHAKIRVEN@monumentstar.com

order an

inspection

A home inspection can help identify deficiencies in a home you’re considering purchasing. If the inspection reveals problems are at work or repairs are needed, you may be able to negotiate with the seller to fix those issues.

During the inspection period, you will schedule an inspection with a reputable home inspector to do a thorough investigation of the home. Once this is complete, the inspector will provide us with a list of findings.

negotiate

final

offer

Here are your options after a home inspection reveals problems:

Ask the seller to make the repairs themselves
Ask for credits toward your closing costs
Ask the seller to reduce the sales price to make up for the repairs
Back out of the transaction (within the option period)
Move forward with the deal

In order to negotiate for repairs or credits, start by getting an estimate from a local contractor or construction professional for how much the repairs will cost. If you’re working with a real estate agent, he or she should handle the negotiations on your behalf. Make sure your agent has a copy of the inspection report to use as leverage when working with the listing agent and their sellers.

682.287.7096 KEOSHAKIRVEN@monumentstar.com

APPRAISALordered

When your home is under contract, and you are working with a lender for financing, you can’t move forward with the sale until an appraisal is done on your home. The outcome can affect whether or not you make it to closing and whether the price in the offer is the price you’ll end up with on settlement day. You don’t want the appraised value of your home to come in below the price you’ve negotiated with the seller, so I have a very specific process to help obtain as much as possible.

682.287.7096 KEOSHAKIRVEN@monumentstar.com

YOUR MOVE

Scheduling

AFTER SIGNING

•FINALIZE MORTGAGE

•SCHEDULE HOME INSPECTION

•Declutter! Sort through every drawer, closet, cupboard & shelf, removing items you no longer need or like. Donate or sell items that are in good condition

•Get copies of medical records and store them with your other important documents

•Create an inventory of anything valuable that you plan to move

4 WEEKS TO MOVE

•Give 30 days notice if you are currently renting

•Schedule movers/moving truck

•Buy/find packing materials

•START PACKING

3 WEEKS TO MOVE

•ARRANGE APPRAISAL (LENDER WILL ORDER)

•COMPLETE TITLE SEARCH (TITLE COMPANY WILL DO THIS)

2 WEEKS TO MOVE

•SECURE HOME WARRANTY

•GET QUOTES FOR HOME INSURANCE

•SCHEDULE TIME FOR CLOSING

•Contact utility companies (water, electric, cable)

•Change address: mailing, subscriptions, etc.

•Minimize grocery shopping

•Keep on packing

1 WEEK TO MOVE

•OBTAIN CERTIFIED CHECKS FOR CLOSING

•SCHEDULE AND ATTEND FINAL WALK THROUGH

•Finish packing

•Clean

•Pack essentials for a few nights in new home

•Confirm delivery date with the moving company. Write directions to the new home, along with your cell phone number

modern lamp on table side with picture frame

Closing Day

CLOSING DAY

Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically, closing takes three to five weeks.

FINAL WALK THROUGH

We will do a final walk through of the home within 24 hours of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to has been done.

We will be sure to:

• Make sure all appliances are working properly

• Run the water in all the faucets and check for any possible leaks

• Open and close garage doors with opener

• Flush toilets

• Run the garbage disposal and exhaust fans

CLOSING TABLE

Who will be there:

• Your agent

• Escrow officer

• Your loan officer

BRING TO CLOSING

• Government-issued photo ID

• Proof of wire or cashier's check

RECEIVE YOUR KEYS

Congratulations! It was a lot of hard work but you are now officially home owners!! Time to throw a party and get to know your new neighbors!

682.287.7096 KEOSHAKIRVEN@monumentstar.com

keosha kirven

682.287.7096 KEOSHAKIRVEN@monumentstar.com