HOME BUYERâ€™S GUIDE 918 Home Team | Keller Williams Realty 918hometeam.com 918-269-1988 Info@918HomeTeam.com
HOME BUYERâ€™S GUIDE In your buyerâ€™s guide we have included useful information, flowcharts and sample copies of Oklahoma state contracts used in real estate transactions. It is our recommendation that you keep a paper and/or digital copy of all paperwork throughout the process of searching for and purchasing a home. Please let us know when you have questions throughout the process. We are here to help! Our team is looking forward to working with you to make your home buying experience as smooth and successful as possible.
WHY 918HomeTeam ✓ MARKET & INDUSTRY KNOWLEDGE Here at 918HomeTeam and Keller Williams Realty, we stay ahead of trends in the real estate industry through our comprehensive, industry-leading training curriculum and research resources. Our forward thinking culture keeps us prepared to provide you with unparalleled service.
✓ TECHNOLOGY Leading-edge tech tools and training give our team the edge in effectively marketing your property online, 24 hours a day, seven days a week. Through KW’s exclusive Keller Williams Listing System (KWLS), your property is fed to more than 350 online search engines and is available on KW’s Web network of more than 76,000 local and worldwide sites.
✓ RELIABILITY & TRUSTWORTHINESS Founded on the principles of trust and honesty, 918HomeTeam and Keller Williams Realty emphasize the importance of having the integrity to do the right thing, always putting your needs first.
✓ TEAMWORK Keller Williams Realty was designed to reward agents for working together. Based on the belief that we are all more successful if we strive toward a common goal rather than our individual interests. Our team works closely together to ensure that you experience the smoothest, most successful real estate transaction possible.
✓ CONSTANT CONTACT Based on extensive market research we know that constant communication with potential home buyers and sellers is the #1 way to get our listings sold and our buyers into the home of their dreams. We have an entire division on staff, full time, who’s main focus is keeping in contact with potential buyers and sellers to help our clients find and/or sell their homes.
✓ TRACK RECORD We are proud to work with the largest real estate franchise in the World by agent count. Locally, 918HomeTeam outsells and outperforms our competition in all aspects. To put it in other words…we get the job done!
918 HOME TEAM STAFF Jennifer Lamarand Transaction Coordinator firstname.lastname@example.org
Allan Dilley Client Services Allan@918hometeam.com
Dana Gillentine Administrative Assistant Dana@918hometeam.com
Highly likely to recommend
12/20/2016 - mart7663 Bought a home in 2016 in Chimney Hills, Tulsa, OK 74133. I contacted the team based on their high reviews and they've gone above and beyond ever since. I was a first time purchaser and was in a bit of a rush to find a place. The team made themselves available from day one and did a terrific job of guiding me through the purchasing process. They were absolutely incredible!! They were flexible, knowledgeable, and was always ready to answer any questions. And I do mean always, I don't think I ever waited longer than 30 minutes for a response from them. Besides being incredibly professional, they were also an absolute delight to work with! They had a great attitude and I felt glad to have them by my side throughout the process. Absolutely would recommend this team!
Highly likely to recommend 10/12/16 -
See what other people have had to say about their experience with our agents & staff at the 918HomeTeam. FIND OUR CLIENT REVIEWS @ www.zillow.com/profile/918HomeTeam Â
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THE PURCHASE PROCESS Meet with your 918 Home Team Agent Obtain Financial Preapproval Work with Your Agent to Put Your Purchase Plan in Place Select Properties View Properties Write an Offer to Purchase
Earnest $$ DUE ($500-$2000)
Negotiate Terms PENDING SALE
Earnest $$ DEPOSITED
Inspections & Insurability Check (10 days unless otherwise specified) ($500-$750 approx.)
45-60 DAY PROCESS
Formal Loan Application
Obtain Insurance Binder
Negotiate TRR for Repairs, if any
Clear Title Requirements
Mortgage Processing Appraisal ($450-$550 approx.)
Obtain Title Insurance
Final Walk Through
Clear to Close Issued CD / Settlement Statement is Issued (“3 Day Clock” to Closing Starts) Closing Date/Time Scheduled Buyer wire funds to close per Title Company wiring instructions
THE LOAN PROCESS Please speak with your lender about specific loan process questions
STEP ONE Complete the loan application within 5 days of contracting
STEP TWO PROCESSING Gathering, analyzing, verifying information contained in application
Order/Check Credit Report
Order/Check Misc Documents
STEP THREE UNDERWRITING In-depth analysis and interpretation of information in the loan package
Order Mortgage Insurance
STEP FOUR CLOSING/FUNDING
Order Loan Docs
Docs Signed/ Verified
OF BUYING A HOME Thou shalt not change jobs, become self employed or quit your job. Thou shalt not buy a car, truck or van (or you may be living in it)!! Thou shalt not use credit card excessively, make major changes to credit cards, or let accounts fall behind. Thou shalt not spend money you have set aside for closing. Thou shalt not omit debts or liabilities from your loan application. Thou shalt not buy furniture, appliances, or flooring until after closing. (Even if it is a good deal!) Thou shalt not originate any inquires into your credit. Thou shalt not make large deposits or withdrawals in or out of your accounts. Thou shalt not change bank accounts. Thou shalt not co-sign a loan for anyone.
SHOP LOCAL www.918HomeTeam.com Benefits of searching for homes on a local & trusted website include: ✓ ✓ ✓ ✓ ✓
Real Time Data Local Experts Streamlined Agent Communication Customizable Search & Save Features Personal Favorites List
NEW CONSTRUCTION Here at 918HomeTeam we specialize in working closely with local builders. We work hard to ensure our clients have a stress-free experience while building and purchasing a new home. Builders’ model homes are typically staffed by non-licensed individuals who work directly for and represent the builder/seller. You will want to have a licensed Realtor® who looks after your best interests throughout the entire process. Some of the many important tasks your 918HomeTeam agent will assist with include: ✓ Register information with local builders, when applicable ✓ Contract review and signing ✓ Upgrade choices ✓ Buyer incentives
✓ Communication with builder’s staff ✓ Punch-list completion ✓ Final walk thru ✓ Closing
If you happen to stop by a new-home community without your agent make sure to give the builder’s staff your agent’s name and contact information up-front. This MUST be done at the first visit or you risk losing the ability to have your agent involved in the sale.
• Simple document management and storage • • From whenever, wherever, and whatever
HOME INSPECTIONS When purchasing a home it is VERY important that you become an informed consumer. The Investigations,
Inspections and Reviews period is your time to check that the home you are purchasing is what you want, in the condition you expect, and in an area that is suitable. Below you will find a list of inspections, who performs them and what each inspection consists of. You are not limited to this list of inspections; anything you want to know about the home must be checked into during the investigations, inspections and reviews period in the purchase contract. Your home inspections will take approximately 1-3 hours depending on the inspections ordered. A 918HomeTeam agent will be present at inspections. If possible, you will want to be present for at least the last 30-45 minutes for a summary of findings. You will receive written reports for all inspections performed by inspectors and contractors. ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢
Whole Home Inspection: This inspection is performed by a licensed home inspector and includes electrical, mechanical & plumbing, roof, exterior of property, windows, interior walls & ceiling, insulation/ventilation, visual of the structural components. EMP/FES: This inspection is performed by a licensed home inspector and includes only electrical, mechanical and plumbing systems Roof: This inspection is performed by either a licensed home inspector or a roofing contractor and includes the structural members, roof decking, roof coverings and related components. (A roof inspection does not guarantee insurance coverage or availability.) Structural: This inspection is performed by licensed structural engineer. It will cover the structure itself and no working components. It will address drainage, if requested, and the structural integrity of the property. Termite and Wood Destroying Insect / Moisture Damage: This inspection is performed by a pest control company and will provide information on any current termite and moisture damage and any past termite treatment indications. Security: Performed by a security company, this inspection covers the current security systems and after closing security options. Chimney: This inspection is performed by a chimney sweep company and will cover the integrity of the firebox, chimney interior & chimney cap. Septic: This inspection is performed by a septic contractor. There are several options available which include visual inspection only, open tank inspection without pumping, and pumping service with full inspection. Ductwork: This inspection is performed by a ductwork specialist, HVAC contractor, or licensed home inspector and is recommended for properties with ductwork under the slab. The inspector will place a camera into the duct runs and report on the ductwork condition. Megan’s Law: This inspection is performed by you as the buyer. You can obtain information regarding registered sex offenders in your area online at www.registeredoffenderslist.org/megans-law.htm or www.doc.state.ok.us/ (We recommend you complete this inspection prior to offering on a property as it is a quick review.) Environmental Risk: These will be separate inspections performed by either a contractor within the specific field(s) or a licensed home inspector. These inspections include but are not limited to soil, air quality, hydrocarbon, chemical, carbon, asbestos, mold, radon gas, lead-based paint. Flood Zoning: This inspection is performed by you as the buyer and includes review of the flood zone status of the property. Square Footage Measurement: This inspection is performed by an appraiser and will verify and provide measurement of the heated and cooled square footage of the property.
TIP: When opting for multiple inspections (i.e. EMP, termite, structural engineer, septic, etc.) you may request that your home inspection company schedule those additional inspections for you with their contractor and engineer contacts.
LICENSED HOME INSPECTORS HORIZON HOME INSPECTIONS Sean Wilson 918-805-3757 www.horizonhomeinspections.com OKLAHOME HOME INSPECTIONS Steve Allison 918-605-1498 www.oklahomeinspections.com FOREVER HOME INSPECTIONS Lance Coffman 918-770-6670 www.foreverhomeinspection.com
STRUCTURAL ENGINEERS STRESSCON Joe Ramey 918-836-0021 AEI Chad Ebady-Nezami (918)251-6910 www.aei-group.net KNOX STRUCTURAL Bruce Clark 918.744.8128 www.knoxinspections.com
YOCHAM BACKHOE WORKS
SURESHOT 918-259-9058 www.sureshottulsa.com
HONEY WAGON SEPTIC 918-451-4112 HARLAN AEROBIC SERVICES 918-261-0544
CREEPY CRAWLERS 918-853-3379 www.creepycrawlerspest.org BREWER RUSSELL 918-834-1122 www.brewer-russellexterminating.com
FAQ How will you tell me about the newest homes available? The Multiple Listing Service website (MLS) provides up-to-date information for every home on the market. Our staff is constantly checking the New on Market list so we can be on the lookout for our clients. We will get you this information right away via email. You also have access to our local and real-time data website at www.918hometeam.com for all of your searching needs. Will you inform me of homes from all real estate companies or only Keller Williams Realty? We are able to help you with homes from all other real estate companies and ANY type of listing be it through the MLS, For Sale By Owner, New Construction, Foreclosure, etcâ€Ś.. Can you help me find new construction homes? Absolutely! You want to have someone involved in the transaction who specializes in home purchases and in new construction specifically. 918HomeTeam can help! Can you help me with for sale by owners? We sure can! Our staff researches for sale by owner posts online. If you come across a FSBO listing online or while driving around stop, take down the information, and send your 918HomeTeam agent a text message or give them a call so they can contact the seller on your behalf. Who pays my agents commission? The commissions are paid by the seller unless otherwise stated in your contract. Thatâ€™s right, the seller! Once my offer is accepted, what should I do? CELEBRATE of course!!!! Your agent will help you to navigate through the process. You will receive a call or email from our Transaction Coordinator and our Administrative Staff as well. Is my Earnest Money going to be deposited? Yes, once you have a signed agreement with a seller your earnest money is deposited and held in a trust account with either the listing company or title company. Can your team help my friends and family who live out of state? Yep! Keller Williams is a worldwide company and we have a massive network of agents across the country and globe. When you know of anyone considering a move we would be more than happy to find them a trusted agent in their area.
WHO DO YOU KNOW We know that when you have friends or family considering buying or selling a home you want to make sure they are well taken care of. Give us a call with their contact information and we will follow up with them directly. All you have to do is let them know you have trusted real estate team and we will handle the rest!
MOVING CHECKLIST New Address: ______________________________________________
Before you move, you should contact the following companies and service providers to update contact information: Utilities: ______Electric ______Telephone ______Water ______Cable ______Gas Professional Services: ______Broker ______Accountant ______Doctor ______Dentist ______Lawyer Government: ______Internal Revenue Service ______Post Office ______Schools ______State Licensing ______Library ______Veterans Administration Clubs: ______Health and Fitness ______Country Club
Insurance Companies: ______Accidental ______Auto ______Health ______Home ______Life ______Renters Business Accounts: ______Banks ______Cellular Phones ______Department Stores ______Finance Companies/Credit Cards Subscriptions: ______Magazines ______Newspapers Miscellaneous: ______Business Associates ______House of Worship ______Drugstore ______Dry Cleaner ______Hairstylist
UTILITY COMPANY DIRECTORY Location
SAMPLE CONTRACT COPIES ❑ DISCLOSURE OF BROKERAGE DUTIES, RESPONSIBILITIES, & SERVICES ❑ BUYER BROKER SERVICE AGREEMENT ❑ ACKNOWLEDGEMENT AND CONFIRMATION OF DISCLOSURES ❑ UNIFORM CONTRACT OF SALE OF REAL ESTATE ❑ FHA INSURED LOAN SUPPLEMENTAL ❑ CONVENTIONAL SUPPLEMENTAL ❑ OK CONTRACT INFORMATION BOOKLET ❑ LEAD BASED PAINT BOOKLET
Your guide to buying your next home in the Greater Tulsa Area with the 918 Home Team