1. Explain the benefits of a Buyers Broker Agreement.

2. Determine what price range the buyer is pre approved for and type of properties that will meet the loan criteria. If buyer does not have a lender or a pre approval, provide recommendations to a lender.

3. Explain the benefits and differences of different types of financing and why one home will qualify for one type of financing and another one won’t.

4. Discuss with the buyers the type of home they would like to purchase.  What features are  important and you “must have” and what are just wish list items.

5. Determine eligible homes that match the buyers and set up appointments to show the homes to the buyers.

6. When viewing the homes with the buyers bring any defects to their attention as well as positive items.

7. Discuss with the buyers their likes and dislikes in regards to the properties they have seen.

8. If they have an interest in a particular property suggest they make an offer.

9. Work with the buyers to draft an offer on a property. Make suggestions as to terms, price and inspections contingencies.

10. Explain the offer and the contingencies to the buyer at the time an offer is drafted.

11. Submit the offer to the listing agent as well as the preapproval letter, copy of the Earnest Money Deposit check and any additional documentation requested by the listing agent or the Seller.

12. Follow up with the Listing agent to confirm reciept of the offer and continue to follow up with them until the offer has been accepted, countered or declined.

13. Keep repeating until the buyer has an accepted offer.

14. Once the buyer has an accepted offer, then set up the home inspections, termite inspection, roof inspection or any other inspection the buyer requests. If the buyer needs recommendations as to inspectors supply them as well.

15. Provide the Lender and Escrow company copies of the executed contract and set up the Escrow file.

16. Meet the inspectors at the property with or without the buyers and provide the buyers with the inspectors reports. Discuss the reports with the buyers and make recommendations at to any requested repairs.

17. Submit any requested repairs to the Seller. On Bank owned properties the Seller typically will not do an repairs. Follow up with the Listing agent to determine if the Seller will complete the requested repairs and advise the buyer.

18. Advise the Buyer that their job now is to work closely with their loan officer to provide the loan officer any follow up documentation that the loan officer may need to process their loan.

19. Follow up with the Loan Officer, Escrow Company and Buyers as to status fo the transaction. Keep all parties informed.

20. Work with the Loan Officer to make sure the appraisal has been ordered and come in at value.

21. All inspections are complete, the appraisal is complete and the file has come out of underwriting with an approval, subject to conditions. Work with the Lender and Buyer to obtain any outstanding conditions.

22. Work with the Lender when loan documents are drawn and sent to the title company.

23. Review the Buyers estimated closing statement for accuracy before the document signing appointment is set. Meet with the Buyers at the loan signing to answer any questions about the loan documents and any other final documents. Explain any items on the estimated closing statements to the Buyers and advise them of the amount of funds that need to be brought into the signing in the form of a cashiers check or wired.

24. Conduct a walk through of the property to assure that it is in the same condition as when it was purchased.

25. Follow up with the Lender to confirm the loan documents were received, everything is in order an when funding of the loan may occur.

26. The loan is funded and recorded!

27. Meet the Buyers at the property and deliver them the key to their new home.

28. Call the new homeowners within a couple of days to make sure they have settled in and are comfortable in their new home. Advise the buyers they will be receiving in the mail the HUD One Settlement Statement that they will need for their next years taxes.

As you can see there are quite a few things going on behind the scenes. It really is a happy time when the new homeowner finally gets the key to their  home.  We are helping people with a time in their lives,  not just selling them a home. I am grateful to be a part of it.

I have joined 24 Hour fitness and they have these really cool classes every day at all different times during the day. They have an aqua class, yoga, 24 cycle, turbo kick boxing, pilates, zumba, hip hop dance and more!  They are really fun and when you exercise as a group you have to keep up with the class. You can’t quit! The group dynamic is really something. Every one has a good time and gets in some exercise too! Some classes are easy and some are really challenging.

So, if you hate to exercise but know you have to do it check out 24 Hour Fitness. It is really affordable and the classes are fun! Go to http://www.24HourFitness.com and check it out. You can even join and go to any of the clubs.

You know you should do it! Give it a try you will love it!

Some of the homes we have looked at do not qualify for FHA financing as the appliances are missing, the air conditioner is missing or the property is just too damaged. Then we see other homes that are beautiful! The kitchens have been recently upgraded and the paint and carpet are all new. The majority of these homes are not eligible for FHA financing for 90 days as the current owner just purchased the home and has fixed it up and is now reselling it at a profit.

What I explained to my client is in this market, the first time home buyers and the investors are competing for the same homes. If a Seller receives an offer of all cash, close in 10 days or an FHA first time home buyer close in 30 days, requesting funds back for closing costs, typically the Seller will select the all cash offer. So, it is not always the price but also the terms of the offer that make the difference.   

So, if you can reduce the amount of credits for closing costs, be ready for a quick close and offer a fair price, you will get that dream home eventually. The first time home buyer is making approximately 25 or more offers before getting an offer accepted.

 So hang in there and don’t get discouraged. There is a reason for everything. You will eventually get an offer accepted on a dream home for you and your family!

1. Set up a search on MLS for you according to your needs and price criteria.

2. Review the MLS daily to see if any new listings come up and email them to you to see if you would be interested in seeing any of the properties.

3. Recommend a lender to you if you do not already have one so you can get get pre-approved and know exactly what your monthly payment will be and what down payment is required for you to purchase a home.

4. Show you properties according to your specifications. Also point out any defects in the property or bring to your attention any issues in the neighborhood.  Many times all a property needs is carpet and paint, you can fix that, but your sure can’t fix a neighborhood.

5. When you see a property you like in a neighborhood your like, write up the offer and submit the offer to the listing agent along with your preapproval letter and a copy of your earnest money deposit check.

6. Follow up with the listing agent via email and phone to obtain the status of your offer.

7. Once your offer is accepted, then deposit your earnest money deposit check with the title company.

8. Provide the title company, your lender and the appraiser copies of the Offer.

9. Set up the home inspection, termite inspection and any other inspection you may request and be at these inspections. Obtain the disclosure reports from the listing agent, review them with you and bring any items to your attention that may be important.

10. Review all of the home inspection, termite inspection and any other inspection reports. Draft a Repair Request Addendum for the Seller to fix any major items that may be important to you or assist you in obtaining estimates from different vendors to see what the costs are for you to fix these items if the Seller is unwilling to fix any items.

11. Work with the lender and title company and follow up weekly to see if any items or documents are outstanding and check the status of the loan.

12. Once the loan is approved and loan documents are sent to title, review the loan documents and the estimated closing statement from the title company for accuracy and advise you of place and time of signing and the amount of money to bring in.

13. Meet with you at the title company when you are signing the loan documents to answer any questions you may have and once again to check for accuracy.

14. Do the final walk through of the propety to confirm the requested repairs have been completed and to see that the property is in the same condition as when you purchased it.

15. Follow up with the title company to have your loan funded and recorded!

16 Once the loan is recorded (aka close of escrow) then meet with you at the property to give you the keys to your new home! 

Best of luck in your new home!