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Why Buyers Choose Us?
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 | Work on your behalf to streamline your home search, first expanding your choices, then helping you narrow the field. | | | Research "comparable" properties to determine a fair price and terms. | | | Simplify your transaction for you as much as possible. | | | Prepare your Purchase Agreement and accompanying legal documents. | | | Negotiate for the absolute best price, terms and conditions that are agreeable to you. | | | Follow-up with your mortgage lender, the title company, the seller's agent and others until the house is yours. |
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How Do I Get Started?
"To leave satisfied you must arrive prepared." Under my Buyer Info section, consider this your home buyer's toolkit. Click on my Buyer Info section below, take a look around, and if you like, start equipping yourself with the tools necessary to make your best purchase. In most businesses, knowledge equals power, and real estate is certainly no exception. We hope you enjoy the information we've provided on our website, and we hope you learn a little more about what it takes to make your important purchase a great one. If you're purchasing a new home, We will help you find one that meets your needs and complements your lifestyle. Once you've made your selection, we can assist you in acquiring financing, negotiating with the seller and completing the transaction. The real estate market in Central Ohio is ever changing and all of the information about buying a home can be overwhelming. We can help.
Please answer these few questions.
These answers can change through this process but this will give us a place to start. Together, we will find your home and this information will be of great help in narrowing down the field of homes available. 1. When you think of where you would like to live, what area of the city holds the most interest for you?_______________
2. How important is location? (
(i.e.) close to shopping centers, highways, schools, churches?
3. Do you need a place for pets to run? 4. Is a fenced yard important? 5. What style of home do you prefer—it can be more than one style
6. 2 story _____Ranch______ Split Level______ Bi-Level____ 7.How many bedroom do you feel are important to you? 8. How important is a garage ? Appliances?
8. What other things should we take into account as we look ?
9. Are you currently in a lease? If Yes, when is it up? or/ can you get out of it early or go month to month?
10. What is your time frame? When do you want to get started? 11. Are you currently working with a lender? If so, would you let me know who that is: Lender / Lender location/phone 12. If you were referred, please let me know who referred you as I would have the opportunity
to say like to say ‘thank you’.
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Choices That Will Affect Your Loan:
Mortgage term. Mortgages are generally available at 15-, 20-, or 30-year terms. The longer the term, the lower the monthly payment if the same amount is borrowed. However, you pay more interest overall if you borrow for a longer term.Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate for as long as you hold the mortgage and is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that interest rates will rise as interest rates increase; however they usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. ARMs are a good choice when interest rates are high or when you expect your income to grow significantly in the coming years. Balloon mortgages offer very low interest rates for a short period of time—often three to seven years. Payments usually cover only the interest, so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years. Government-backed loans, sponsored by agencies such as the Federal Housing Administration (www.fha.gov) or the Department of Veterans Affairs (www.va.gov), offer special terms, including lower down-payments or reduced interest rates—to qualified buyers. Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, use Fannie Mae’s online mortgage calculators.
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10 Things a Lender Needs From You
1. W-2 forms or business tax return forms if you're self-employed for the last two or three years for every person signing the loan.2. Copies of at least one pay stub for every person signing the loan. 3. Copies of two to four months of bank or credit union statements for both checking and savings accounts. 4. Copies of personal tax forms for the last two to three years. 5. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account. 6. Copies of your most recent 401(k) or other retirement account statement. 7. Documentation to verify additional income, such as child support or a pension. 8. Account numbers of all your credit cards and the amounts of any outstanding balances. 9. Lender, loan number, and amount owed on other installment loans, such as student loans and car loans. 10. Addresses where you have lived for the last five to seven years, with names of landlords if appropriate.
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5 Property Tax Questions You Need to Ask
What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate? Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.
5 Things to Understand about Home Owners Insurance
1. Look for exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage and sump pump as a standard item. These coverages must be bought separately. 2. Look for dollar limitations on claims. Even if you are covered for a risk, there may a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately. 3. Understand replacement cost. If your home is destroyed you’ll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient. This means that if your home is insured for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000. 4. Understand actual cash value. If you chose not to replace your home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value. 5. Understand liability. Generally your homeowners insurance covers you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there is usually an upper limit to the amount of coverage provided. Be sure that it’s sufficient if you have significant assets.
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10- Ways to Lower Your Homeowners Insurance Costs
1. Raise your deductible. If you can afford to pay more toward a loss that
occurs, your premiums will be lower. 2. Buy your homeowners and auto policies from the same company and you’ll usually qualify for a discount. But make sure that the savings really yields the lowest price. 3. Make your home less susceptible to damage. Keep roofs and drains in good repair. Retrofit your house to protect against natural disasters common to your area. 4. Keep your home safer. Install smoke detectors, burglar alarms, and dead-bolt locks. All of these will usually qualify for a discount. 5. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value. 6. Ask about other discounts. For example, retirees who are home more than working people may qualify for a discount on theft insurance. 7. Stay with the same insurer. Especially in today’s tight insurance market, your current vendor is more likely to give you a good price. 8. See if you belong to any groups—associations, alumni groups—that offer lower insurance rates. 9. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage. 10. See if there’s a government-backed insurance plan. In some high-risk areas, such as coasts, federal or state government may back plans to lower rates. Ask your agent.
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A Complete Home Physical
 We at Real Living believe it's crucial for you to protect yourself by having a home inspection conducted prior to closing. A professional assessment by a reputable home inspector may uncover any problems (large or small), alerting you to any needed repairs and updates. With your Real Living agent's help, you may even be able to negotiate for repair or replacement of items before the purchase is complete.
You'll have the opportunity to bring in a home inspector of your choosing once you go into contract. The inspector will perform a comprehensive evaluation of the home and property, doing everything from testing outlets and faucets; to identifying signs of dampness, termites or carbon monoxide; to making sure walls are strong and windows are secure.
Hire an inspector you can count on
If you don't already have a particular inspector in mind, ask someone you trust for a reference. The inspection will cost several hundred dollars (actual cost depends on the size of the property and complexity of the report), so it's important that you feel confident about the person conducting it and the quality of his or her work. In fact, your Real Living agent is a good resource for home inspection references, as he or she has undoubtedly worked with a number of quality inspectors. Choose an inspector who can provide proof of qualifications such as certifications and memberships to home inspection organizations.
It’s best to schedule your home inspection during daylight hours if possible. You should also make every attempt to attend the home inspection, which will last two to four hours depending on the size of the home. Your participation will provide information on general maintenance tips, and alert you of any concerns with the condition of the property. Upon completion of the inspection, you and your agent should receive a copy of the report for review. Any non-cosmetic items that are of concern would then be addressed by your agent in the preparation of a "Buyer's Request to Remedy" which is provided to the seller's agent. Feel free to ask questions during the inspection – the more you know about your new home, the better.
Take care of repairs
The inspector should deliver a written report within one or two days. It's perfectly normal to have a handful of small issues that need attention or repair. Work with your Real Living agent to decide which of these to ask the seller to handle or pay for, and which you'll handle yourself.
Even if your home inspector finds no serious problems, the inspection can pay off indirectly. In addition to identifying immediate-need repairs, you'll be alerted to future maintenance issues as well. It's always good to know up-front what to expect, and how much such repairs could cost.
And if the inspection unearths catastrophic problems that can't be resolved to your satisfaction, Real Living's purchase agreement protects your interests. Ask your Real Living sales associate to explain each possibility.
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10 Questions to Ask a Home Inspector
 1. What are your qualifications? Are you a member of the American Society of Home Inspectors or National Associaton of Home Inspectors?2. Do you have a current license? Inspectors are not required to be licensed in every state. 3. How many inspections of properties such as this do you do each year? 4. Do you have a list of past clients I can contact? 5. Do you carry professional errors and omission insurance? May I have a copy of the policy? 6. Do you provide any guarantees of your work? 7. What specifically will the inspection cover? 8. What type of report will I receive after the inspection? 9. How long will the inspection take and how long will it take to receive the report? 10. How much will the inspection cost?
11. Do you check for termites and /or Radon? Are you qualified to test for Radon/Termites?
How quickly will I be receiving a copy of the report after the inspection is done? Portions adapted from Real Estate Checklists and Systems and used with permission. www.realestatechecklists.com
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Common Closing Costs for Buyers
The lender must disclose a "good faith estimate" of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
Down payment.
Loan origination fees.
Points, or loan discount fees you pay to receive a lower interest rate.
Appraisal fee.
Credit report.
Private mortgage insurance premium.
Insurance escrow for homeowners insurance, if being paid as part of the mortgage.
Property tax escrow, (if being paid as part of the mortgage.)
Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
Deed recording fees.
Title insurance policy premiums.
Survey.
Inspection fees—building inspection, termites, etc.
Notary fees.
Pro-rations for your share of costs such as utility bills and property taxes. **A Note About Pro-rations. Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first 5 days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
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Pack like a Pro
 1. Plan ahead by organizing and budgeting. Develop a master “to do” list so you won’t forget something critical. To ensure moving costs, use a moving calculator. 2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle. 3. But don’t throw out everything. If your inclination is to just toss it, you’re probably right. However, it’s possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you’d feel if you no longer had it. That will eliminate regrets after the move. 4. Pack like items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it’s time to unpack. 5. Decide what, if anything, you plan to move yourself. Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don’t forget to keep a “necessities” bag with tissues, snacks, and other items you’ll need that day. 6.Use the right box for the item.
Put heavy items in small boxes so they’re easier to lift. Keep weight of each box under 50 pounds, if possible.
Don’t over-pack boxes. That will increase the chances that items inside the box will break.
Wrap every fragile item separately and pad bottom and sides of boxes. 7. Label every box on all sides. You never know how they’ll be stacked and you don’t want to have to move other boxes aside to find out what’s there. 8.Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers. 9. Keep your moving documents together in a file. Including important phone numbers, driver’s name, and moving van number. Also, keep your address book handy. 10. Back up your computer files before moving your computer. 11. Inspect each box and all furniture for damage as soon as it arrives. 12. Remember, most movers won’t take plants. If you don’t want to leave behind, you should plan on moving them yourself.
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