|Home Buying Guide
|Letter to Home Buyers
Home Buying Process
Finding Your New Home
Tips for Moving Day
|Letter to Home Buyers:
| Congratulations! This is the first step in learning about the exciting adventure of locating your new home with a MARTOCCHIA REALTORS® professional. We know how important it is for you to understand the home buying process.
Whether you are looking for your first home or your fifth, the process that lies ahead will have its thrills and its challenges. We take great pride in our representation of buyers and would like to review our philosophy with you. We want you to know:
How the selection of MARTOCCHIA REALTORS® will benefit your home
Why selecting us as you buyer specialist is so important.
What we will do to locate your new home.
While other Realtors simply show available homes from the local Multiple Listing Service, we prefer to go the extra mile! After our initial interview, we will customize a specific plan - one that analyzes your needs and determines our best approach in locating your new home. We're eager to share our One-on-One Service with you!
|Home Buying Process:
|INTERVIEW AND INITIAL CONSULTATION WITH BUYER SPECIALIST
What kind of real estate agent do you trust in the search for
your new home? This decision is just as important as finding
an excellent physician, accountant or any other professional. The agent you choose should
represent your best interests as they help locate your home, prepare and present your offer,
negotiate price and terms plus coordinate all the necessary steps that lead to a successful closing.
With initial information gathered at a confidential interview, a MARTOCCHIA REALTORS® consultant does everything it takes to find the home that makes you and your family happy. Our exclusive One-on-One Service includes:
1. Identifying your needs and preferences.
2. Prequalifying you and putting you in touch with a loan consultant to process the paperwork
and get you a mortgage pre-approval.
3. Familiarizing you with communities.
4. Educating you about the market.
5. Screening the market in person and by computer for homes that would be of interest to you.
6. Showing you these homes.
7. Describing the purchase and negotiation process.
8. Preparing a contract with you and presenting your offer to the sellers.
9. Informing you of requirements a seller may have, such as closing date, and helping you
make an informed decision about the structure of your offer.
10. Advice on how to respond to a seller's counter-offer and how to handle a multiple offer
11. Providing you with financing information.
12. Providing you with names of professionals and service companies that you may need, such
as attorneys and inspectors, during the purchase process.
13. Accompanying you on the walk-through inspection before the closing.
15. Being present at the closing and providing clarification as needed.
16. Being there for you after the closing for any questions.
UNDERSTANDING AGENCY - WHO IS WORKING FOR YOU?
Seller Agency - As a seller's agent, the licensee represents the seller and
information supplied by the buyer will be disclosed to the seller.
Buyer Agency - In this case, the licensee represents the buyer and all information supplied by the seller will be disclosed to the buyer.
Dual Agency - A dual agent represents both parties. This occurs when
the same agent represents both buyer and seller. Without express permission of the parties involved, a dual agent may not disclose that the seller will accept a price less than the listing price or that the buyer will pay a price greater than what they have offered.
HIRING A BUYER SPECIALIST
When making one of the largest investments of your life, you need a professional who can guide you through making informed decisions. As a part of our One-on-One Service guarantee, MARTOCCHIA REALTORS® is prepared to help you make informed decisions, educate you to the marketplace, provide you with financing information, prepare contracts on your behalf and guide you through the negotiation process.
It costs you nothing to hire a Buyer Agent! You get countless advantages, yet the fee is most often paid by the seller out of the proceeds from the sale.
|Finding Your New Home:
After your initial counseling appointment, MARTOCCHIA REALTORS® will have a good idea of your wants, needs, price point and location. A plan is customized for your home search and homes are selected that fit your requirements. Arrangements are made for you to preview them.
Remember MARTOCCHIA REALTORS® can show you any available property. Whenever you see an ad, property sign or just hear a rumor, we can check it out for you! New construction also applies!
As you walk through the selected homes, look everywhere! Sellers are usually
absent, but if they are home, they understand your need to examine cabinets,
closets and basement storage areas. Make notes of home that appeal to you. It is easy to forget details
and you will be pleased to have some familiar reminders at the end of the day!
The time it takes to locate your dream home varies on your requirements and property availability. Don't be surprised if the first home you see seems perfect for you! At the same time, don't be discouraged if none of the homes you visit on the first day is what you want. Our commitment is to find you that dream home and work diligently until we do!
MAKING AN OFFER
Throughout the home search process, MARTOCCHIA REALTORS® will keep you informed on the marketplace...properties that you have seen that are now under contract, homes that have come back on the market, recent sales. All this information is important as you determine market conditions in your price range.
When you have found that special home, your agent will research current comparable sold and under contract properties and also the current active comparable properties to help make a well-educated offer. The offer you formulate needs to include not only the price you are willing to pay but also closing date, inspections that you want to make, mortgage information, items included and excluded, and any other contingencies to the sale.
At the time of writing an offer, you will need to provide a deposit. This money represents your sincerity in the attempt to purchase the property. It is placed in an escrow account until closing. If your offer is not accepted, the money is fully refunded. You should anticipate a deposit of approximately 5% of the purchase price, though marketplace tradition may vary.
This is where your Buyer Specialist will really shine! Your representative will make arrangements through the listing agent to present the offer directly to the Seller and will negotiate in your best interest.
Upon hearing your offer in full, the Seller has three options...accepting and signing your offer which places you under contract; rejecting your offer and your search for a home continues; "countering" your offer with terms that are more acceptable to the seller and we start negotiating to find a common meeting of the minds.
INSPECTION AND TESTS
All systems of the home you are purchasing are to be in "normal
working condition" at closing. It is strongly recommended that you take
the time to have, at your expense, all components of the home inspected
during the contract period. This is normally done within the first five
to seven days of contract to ensure everything in the house is operational. The
inspection can include roof, plumbing, electrical, heating and ventilation,
foundation, attic, air conditioning, bath and kitchen fixtures and general
structure. Other tests you might consider include radon, water, well and septic, soil tests and others. Your
representative can give you information on all of these tests so that you can make an informed decision.
These inspections/tests will help determine any problems that may need to be corrected. The seller will need to be notified preferably in writing immediately of any defects revealed that you feel need to be addressed. The seller then has the option to correct the defect, offer you a credit to make the repairs yourself after closing or refuse to make a correction. If the seller elects to refuse to make repairs, you will have the opportunity to accept the property "as is" or cancel the contract.
|Tips for Moving Day:
|SEND CHANGE OF ADDRESS TO:
. Post Office
. Charge accounts, credit cards
. Subscriptions: notice requires several weeks
. Friends and relatives
. Voting Registration
BE SURE TO CONTACT:
. Bank: Transfer funds; arrange check cashing on new location.
. Insurance: Notify new location for coverage (Life, health, fire, auto, and homeowners) and be sure to bring new
homeowner's policy with you to the closing with a paid receipt.
. Automobile: Transfer car title registration; also driver's license; state windshield sticker; motor club membership.
. Utilities: Gas. Light. Water, telephone, fuel, cable. Get a refund of any deposit made; arrange final readings and
change of name for billing.
. Delivery services: Laundry, papers, grocery, etc. Be sure to change over and deliveries you currently get.
. School: Ask for copies or transfer of children's records.
. Medical: Ask doctor, dentist, and pharmacist for referral; transfer needed prescriptions, eyeglasses, X-rays, and record.
. Organizations: Transfer memberships (houses of worship, clubs, civic organizations); get letter of introduction.
. Pets: Ask about regulations for licenses, vaccinations, and tags.
AND, DON'T FORGET TO:
. Verify location of closing.
. Get a bank check for any additional funds due at closing.
. Schedule time for final walk-through of new property just prior to closing.
PLAN FOR YOUR MOVE:
. Empty freezer; plan use for foods.
. Defrost refrigerator/freezer (place charcoal in empty unit to dispel odors)
. Have appliances serviced for moving.
. Clean rugs and clothing before moving.
. Check with your moving service regarding packing and unpacking labor, arrival day, various shipping papers, method and time expected payment.
. Plan for special car needs for infants and pets.
. Plan garage sale.
ON MOVING DAY:
. Carry currency, jewelry, and documents yourself; or use registered mail.
. Plan for transporting pets. Make sure you can be found if they become lost.
. Carry traveler's checks for quick available funds.
. Tell close friends and relatives your route and schedule (including overnight stops.) Use them as message
. Double check closets, drawers and shelves to be sure they are empty.
. Leave all old keys and garage door transmitters with your agent.
|The closing is the final step before you take possession of your new home. At these meeting, several people will be present: all buyers, owners, listing and selling agents, and attorneys or title insurance representatives.
The attorney will explain all documents, including the deed of trust or mortgage.
The buyer will sign a number of papers and will pay the balance of the down payment and closing costs with a certified of cashier's check. The buyer will, at this time, receive all keys. Be sure to obtain equipment warranties and instructions and the electric garage door opener.
After all necessary explanations have been made and signatures obtained, the purchasing process is complete. It is a big moment, and often and emotional one. Next comes the move and then.. .the great joy of living in your new home!
Don't hesitate to continue to call your MARTOCCHIA REALTORS® agent for recommendations on service companies or community information. Our MARTOCCHIA REALTORS® One-on-One Service is designed to provide you with service throughout the lifetime or ownership in your home!
Buying a home is certainly one of life's most wonderful experiences. All of us at MARTOCCHIA REALTORS® is truly pleased to take part!