Buyers

Personal Mission Statement:

I am a professional dedicated to providing the highest quality real estate services. I strive for excellence in attitude and behavior, and demonstrate integrity through my work ethic. I am committed to serving clients honestly. I partner with clients to understand their expectations and use my knowledge and expertise to meet their needs.

 

Quick Links (Click to jump to any section of this document)

Personal Goals Pledge to Buyers
ADVANTAGES OF PURCHASING THROUGH A REALTOR Let Me Help You
Why Buy a Home? Establishing a Plan
Viewing Homes Define What You Want
What is that? About Closing Costs
I HAVE SOME QUESTIONS… Moving Guide
HOME BUYING HUMOR!

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Personal Goals:

I will:

  • Provide my clients with exceptional service.
  • Bring competence and experience into every transaction.
  • Put my client’s interest first.
  • Learn and understand client needs and expectations.
  • Base my client relationship on honesty, loyalty and accountability.
  • Keep open and timely communication.
  • Represent the best interest of either party in disclosing pertinent information whether working for buyers or sellers.
  • Make recommendations in assessing home value and reviewing buyer estimates to ensure fair market value.
  • Continue my education in the real estate industry to learn and understand market trends.
  • Strive for excellence.

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Pledge to Buyers:

My Services Will Include The Expertise Necessary To Help You Purchase the Right Home At A Fair Price And With The Least Inconvenience. While Providing Unsurpassed Service.

I will:

  • EXPLAIN REAL ESTATE AGENCY RELATIONSHIPS
  • STAY IN CONSTANT COMMUNICATION ALALYZE BUYER’S PROPERTY NEEDS AND DESIRES
  • ORIENT BUYER TO CURRENT MARKET CONDITIONS
  • EXPLAIN LOCAL REAL ESTATE PRACTICES AND PROCEDURES
  • PROVIDE INFORMATION ON LENDERS SEARCH THE MLS FOR SUITABLE PROPERTIES
  • SET UP AND SHOW BUYER PROPERTIES CAREFULLY EXPLAIN AND PREPARE OFFER
  • FOLLOW UP AFTER THE PURCHASE

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ADVANTAGES OF PURCHASING THROUGH A REALTOR:

My Services Will Include The Expertise Necessary To Help You Purchase the Right Home At A Fair Price And With The Least Inconvenience. While Providing Unsurpassed Service.
  • Real estate transactions are complicated.
  • A realtor is trained to assist you through each step of the buying process.
  • A realtor is a valuable source of market trends, community and neighborhoods information, and has an in depth knowledge of homes for sale through out the area.
  • A realtor saves you time by locating potential properties that are right for you.
  • A realtor has expert negotiation skills.
  • A third party (realtor) can obtain “inside information” about properties you are interested in seeing.
  • A realtor can assist you with getting pre-qualified to purchase a home.
  • You are professionally represented by someone who is accountable for all the details!

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Let Me Help You! :

Buying a home can be confusing. There are many possibilities and options. Lisa Thompson can assist you in sorting though the real estate maze and show you listed properties, regardless of brokerage or “For Sale by Owner.”
  • Read an ad? – Circle it and give Lisa a call.
  • She’ll check it out!
  • Seen a sign? – Lisa will get the information you need whether it is listed with Parker Real Estate or another broker.
  • Heard about property for sale? – Lisa will search out the details for you!
  • Want to attend an open house? – Lisa will take you and help you ask the right questions to get the information you need to see if the home is right for you.
  • Saw a home on a website? – Lisa will track down the property you are interested in. She will also provide you with additional web sites to review. Want to build your new home? Lisa will assist you in locating property and suggest top qual- ity builders. She can even assist you in meeting with the contractor of your choice.

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Why Buy a Home?

  • Dislike Paying Rent? Renting offers no equity, isn’t tax deductible and there is no protection against rent increases.
  • Based on a 6% rent increase each year, if you now pay $700 per month in rent, in 10 years you will have paid $110,719!
  • Good Investment: By putting money into a home, you are investing in something that can make money for you over time.
  • Tax Advantage: Property Taxes and interest are tax deductible.
  • Long-term Appreciation: As a long-term investment, historically home prices rise at a relatively steady rate.
  • Source of Savings: Homeowners build equity and can borrow against it.
  • Pride of Ownership: There is a sense of satisfaction in owning a home and being rent free. Buying a home gives you con- trol over where you live.

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Establishing a Plan

As you begin the home search process set up a personal consultation with your realtor to:
  • Review your financial position to determine your ability to pay.
  • Pre-qualify for a loan.
    • There are FHA, VA and Conventional loans, and depending on the price of the homes you are considering, and the amount of the down payment, there may be several loan options to meet your needs.
    • Your realtor can recommend a lender for you to meet with to get your financing. He/she is familiar with lender’s requirements and will be able to determine your price range for purchasing. This will assist you in knowing exactly what your payments will be on offers you choose to make. You won’t waste time considering homes you can’t afford.
    • Sellers may find your offer to purchase more favorable if they know in advance of your ability to secure financing. They may make the offer more competitive if you are in competition with other offers.
  • Estimate purchase costs and examine them in detail.
  • Discuss home styles, availability, locations, schools and any other specific features that are important to you.
  • Review the Real Estate Purchase Contract and learn about the MLS.
  • Find out properties currently for sale.

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Viewing Homes

  • After you have met with your realtor, he/she will have a good idea of your wants, needs, price range an location. With that information a search of the MLS will provide a listing of homes for sale meeting your qualifications.
  • The realtor will print a list of the available homes and begin setting up appointments and arrange to show you the homes.
  • An information sheet for each home will be provided, along with a sheet with suggestions of things to look for and space for you to take notes during the appointment. It’s easy to forget details after you have seen numerous homes, so it is important to write down the likes and dislikes about each home.
  • Don’t be surprised if the first home you see is the one for you, but don’t get discouraged if the first few homes are not what you want. There is a home out there for everyone, it just may take a little time to find the one for you.
  • Your realtor is committed to help you find the home you are looking for.

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Define What You Want

Before you go shopping to buy a home, there are some things to consider
  • What kind of home do I want? Ranch? 2-story? Split Level?
  • What size home do I need? Bedrooms? Baths? Sq. ft.? Basement? Lot size?
  • What special features are important to me? Fireplace? Vaulted Ceilings? Garage Size? Views?
  • In what area of town do I want to live? What city?
  • Do I have special housing needs? Wheelchair Access? Main Floor Master?
  • How soon do I need to move?
  • What concerns me most about buying a home?

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ABOUT THE PAPERWORK:

What is that?

    • Purchase Contract
      • In negotiating the purchase of a new home, the initial step will be to make a written offer to purchase. The offer includes:
      • The amount you are offering
      • The type of financing
      • Any personal property you would like
      • Loan denial date
      • Closing date
      • Inspection dates
      • If the seller does not accept the offer, counter will be offered until the seller and buyer come to a mutual agreement.
    • Earnest Money
      • At the time an offer is written the buyer is required to write an earnest money check. The check will be held in the Parker Real Estate Services, P.C. Trust Account until closing. Earnest money deposits should be no less than $500 to demonstrate to the Seller you are sincere in your offer. This money will be credited to you at closing.
    • Title Insurance
      • When property is sold, the lender and buyer need a preliminary title report to see exactly what liens and encumbrances are against the property. When the sale of the property is final and the title company has filed the necessary documents, they then will issue a policy of title insurance to the new lender and the buyer showing clear title to the property.
    • Closing Costs
        • When the property you are purchasing is set to close a fee is charged by the closing agent who prepares the closing documents and closes the loan on behalf of the lender.

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About Closing Costs

The closing on a purchase of a home can be overwhelming. Below is a brief explanation of terms you will hear at the closing.
  • Application Fee: This fee is charged by the lender to offset fixed costs related to mortgage loan processing, such as, appraisal, credit reports, and underwriting.
  • Closing Fee: This fee charged by the closing agent who prepared the closing statement and closes the loan on behalf of the lender.
  • Commitment Fee:This is often called an origination fee and is generally computed at 1% of the mortgage amount.
  • Discount Points: Each point is equal to 1% of the mortgage amount. Points are used by the lender to adjust the yield on the mortgage when it is sold to an investor. By paying more points, the borrower can obtain a lower mortgage interest rate.
  • Homeowner’sInsurance:One year premium is due , in advance, at the time of clos- ing. Mortgage Insurance: Insurance is required by the lender when the down payment is less than 20%. In the case of loan default, this insurance reduces the lender’s loss.
  • Pre-Paids: This is an adjustment to escrow accounts from the date of closing to the date of the first payment. Interest is paid through the end of the month of closing, taxes are paid through the end of the month of closing, plus the following month. Two months of PMI are collected. Two months of homeowner’s insurance may also be collected. A home owner’s insurance policy must be provided along with a receipt showing that the first year’s premium is paid.
  • Processing Fee: The fees charged by the escrow processor, either working for the escrow company, title company or real estate company for administration escrow services performed from the point of contract through closing.
  • Recording Fees: The fees charged by state or municipal entities for entering the closing documents into the public record.
  • Title Insurance: This provides protection for lenders and homeowners against financial loss resulting from legal defects in the title.
  • Under Writing Fee: This is usually included in the application fee.

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I HAVE SOME QUESTIONS…

Below are some commonly asked questions about buying a house
  • When I start visiting homes, what should I be looking for the first time through?Good things to look for are:
    • Is there enough room?
    • Do you like the floor plan?
    • Is their enough storage?
    • Is the yard the right size for you?
    • Are there enough bathrooms?
  • Is an older home as good a value as a new home?It’s a matter of personal preference. Both new and older homes offer distinct advantages. New homes generally have more family living space like a family room. However, many older homes offer more total space for the money. It is all in what you like.
  • Do I need to bring anything along when looking at homes?Just a pen! You will receive fact sheets and extra note paper for each home.
  • What should I tell my realtor about the homes I look at?Them him/her what you liked and didn’t like about each home visited. It is important for the realtor to get a feel for what you are looking for, so don’t be shy!
  • How many homes should I look at before I buy?There is no set number. With your realtor you look until you find the right home for you.
  • I’d like to have a professional look at the home before I buy it. What does a home inspector do?It is highly recommended that you use a professional home inspector. An inspector checks a home’s plumbing, heating, cooling, electrical systems and look for structural problems.
  • Should I be present during the inspection?It’s isn’t necessary for you to be present. The inspector will provide you with a report that you can review. The inspections are often very time consuming. After the report Is given to the realtor, an appointment can be set to return to the home and look over the items the inspector identified.
  • Do I need to talk to my insurance agent?Yes, you will need to have your new home added to your insurance the day that you close.
  • Is there any way I can protect myself against emergency repair bills in my new home?Yes. Your realtor can offer you a home warranty that covers the home for 1 year. It covers the basics of the home. You can purchase it or ask the seller to purchase it for you.
  • How do I determine the amount of my initial offer?There is really no rule to use in calculating a realistic offer. Naturally, the seller wants the best price. Most buyers and sellers negotiate on price, with both sides “giving” a little until both agree.
  • If I’m moving a considerable distance, is there a way I can gather information before I start traveling?Yes. Your realtor can provide information about homes, area, schools, recreation, etc. The information can be emailed or faxed to you. There are also websites you can check out for information.
  • Are there mortgages especially designed for first-time buyers?There are a number of loan programs for first time home buyers. They make purchasing a home easier by minimizing down payment and keeping monthly payments as low as possible.
  • Can I get a FHA or VA mortgage?Just about anyone can apply for a FHA loan. They generally require a low down payment and are well suited for buyers with moderate income. There are amount limits on FHA loans. VA loans are very similar to FHA loans. However, these loans are reserved for either active military personnel or veterans or spouses of veterans who died of service related injuries.

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Moving Guide

Once the home is purchased, you are ready to move. Here are some tips to assist you with moving.
  • Planning
    • Survey your belongings and determine what you will move to your new home.
    • If using a van lines, find out what items that can’t be moved or that require special atten- tion.
    • Get estimates from several moving or truck rental companies, depending on how and when you plan to move.
  • Kid Care
    • Communicate with your children your inten- tions to move and share the details with them so they’ll understand what is happen- ing. Be sensitive to their feelings and con- cerns. Listen to their questions and answer them honestly..
    • Help children pack a special box with their most treasured possessions and decorate it so that they can find it quickly when it arrives at the new home.
    • Encourage your children to take the time to say good-bye to friends and maintain ties by exchanging contact information.
    • Make plans to continue your children’s activi- ties (such as Scouts, sports, dance lessons, etc.) in your new area. This will make the adjustment for them easier.
  • Pet Care
    • Schedule a veterinary exam to check your pet’s health if you are moving away from your current city. Update pet ID tags and obtain tranquilizers, if necessary for the trip.
    • Don’t feet your pet for seven hours prior to your trip. Pack fresh, cool water and stop frequently for walks.
    • It your pet requires transporting in a kennel, let it become accustomed to it well in ad- vance of the trip.
  • Plant Care
    • Provide plants with extra sunlight for several weeks prior to moving.
    • Prune back overgrown leaves and branches about a month before moving, and curtail feeding to minimum growth.
    • Thoroughly water the plant the day before you move and cover it with a plastic bag to retain moisture and warmth.
    • Place plant in a sturdy box to keep it from tipping over
  • Things to Remember
    • Submit change of address information to the post office, charge accounts, subscriptions, church, firms with whom you have time payments, past employers in order to receive your W-2 form, and relatives and friends.
    • Contact service companies (gas, electric, water, telephone, cable TV and trash collection to disconnect/connect services at your old and new address.
    • Contact insurance companies (auto, homeown- ers or renters, medical, life) to arrange for coverage changes in your new location.
    • Make lodging reservations in advance of the move.
    • Collect important papers ( insurance, will, deeds, stocks, birth certificates, bank account, investment statements, and social security cards. Gather all valuable to be taken personally with you.
    • Arrange to close out or transfer banking accounts, if necessary. Pay any outstanding accounts with local merchants.
    • Save the phone book of your former city residence for tying up loose ends or for future correspondence.
    • Request doctor, dental and school records if you are moving to a new town.
    • Ask current processionals for referrals to doctors, lawyers, accountants, etc., if necessary.
    • Have your car serviced.
    • Have a floor plan drawn out or in mind as to where and how you want your furniture arranged to avoid confusion once you begin unpacking.

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HOME BUYING HUMOR!

Here is a guide to familiar real-estate ad phrases.
  • Charming – Tiny. Snow White might fit, but five of the dwarfs would have to find their own place. See “Cute,” “Enchanting,” and “Good Starter Home.”
  • Much potential – Grim. Steer clear unless you have a lot of money and believe your blind dates really did have nice personalities. See “Ready to Rehab,” and “Fixer Upper.”
  • Unique city home – Used to be a warehouse.
  • Hi-tech/Contemporary – Lots of steel shelving with little holes – the kind your dad used to store tools on in the basement.
  • Daring design – Still a warehouse.
  • Completely updated – Avocado dishwasher and harvest gold carpeting or vice versa.
  • Sophisticated – Black walls and no windows. See “Architect’s Delight.”
  • One-Of-A-Kind – Ugly as sin.
  • Brilliant concept – Do you really need a two-story live oak in your 30-foot sky dome? See “Makes Dramatic Statement.”
  • Upper bracket – If you have to ask . .
  • You’ll love it – No, you won’t.
  • Must see to believe – An absolutely accurate statement.

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Contact Us

Lisa Thompson
Direct: 435-757-8990
Platinum Real Estate Group
965 South 200 West Suite #105
Logan, UT 84321
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