Home Buyers Guide by BatesHennington

HOME BUYERS GUIDE

IN OUR EXPERIENCE...

a home isn't a dream home because of its size.

It's about how you feel when you walk through the front door, and the way you can instantly envision your life unfolding there.

This is about more than real estate - it‘s about your life, your dreams and your desired outcomes. Working with home buyers is not a one-size ﬁts all process, so we approach each one of our clients individually, taking the time to understand their current situation, unique needs and lifestyle. We understand that we are helping our clients open a new chapter of their lives, which is why we work so diligently to ﬁnd the perfect home and handle every last detail of the home buying process.

We are honored to guide you through this process and excited to help you ﬁnd that perfect home!

MEET THE TEAM

THE BATES HENNINGTON TEAM

The Bates | Hennington Real Estate Group, LLC are real estate experts in Los Angeles who understand both the buying & selling side of a sale. We value our clients & know that this is one of your most important investments. Our leadership in both real estate and neighborhood community organizations has provided us with vast

TRACI BATES MANAGING PARTNER Real Estate Associate

LORNA HENNINGTON MANAGING PARTNER Broker Associate, Attorney

310-739-6884

323.356.3675

Experts@BatesHennington.com

www.BatesHennington.com

experience and contacts that we utilize for the benefit of our clients.

Whether it’s a traditional sale, an investment or development opportunity, probate, trust or distressed sale or lease, our goal is to provide you with service Beyond The Ordinary.

DOLANN ADAMS REAL ESTATE ASSOCIATE

TERRY LLOYD REAL ESTATE ASSOCIATE

Traci Bates & Lorna Hennington

RAHA MEHDIZADEH TRANSACTION COORDINATOR

Traci Bates and Lorna Hennington are Founding and Managing Partners of Bates Hennington Real Estate Group, LLC powered by Keller Williams Realty, Larchmont. With decades of combined experience, they are respected Los Angeles real estate experts known for their strong negotiation skills, deep local knowledge, and dedication to client success.

A native Angeleno, Traci brings a legacy of real estate passion along with a strong commitment to historic preservation and community advocacy through her work on an Historic Preservation Overlay Zone board and involvement in cultural organizations,

Lorna originally from New Orleans, combines her legal expertise with a lifelong love of historic homes, serving on neighborhood boards and leading local preservation efforts.

Together, Traci and Lorna offer a thoughtful personalized approach to real estate rooted in service, integrity, and a genuine love for Los Angeles.

WHAT OUR CLIENTS ARE SAYING...

Dear Lorna and Traci, we are so glad we met you. Not only did you do everything you promised in the sale of our home from staging to advertising to fun open houses and terrific negotiating with buyers, but now we consider you to be true friends. As much as we enjoyed your help in the sale of our home, we had an even more pleasant experience as you helped us purchase our new one. You helped us find the right neighborhood, house , and held our hands through all inspections. Thank you for everything!

- The Martins

My wife and I were first time home buyers, and we were recommended to the Bates Hennington team by a dear friend of ours, and we are so happy that we listened and used Lorna and Traci to buy our first home, we will use them for any and all future transactions and here is why: These wonderful women are patient, knowledgeable and down to get you the deal! They worked with us for quite some time finding us our perfect home, which in Los Angeles can be a hard and time -consuming process. Throughout, both Traci and Lorna explained what was happening, why it was important and what was coming next. They made us feel safe and secure in what was the largest purchase of our lives. I never felt there was something I couldn’t ask, not matter how stupid or small i thought it was. They were always just a call or email away and very attentive (with me that is saying a lot!)I can’t say enough good things about these special ladies, except that since my real estate purchase, I have heard horror stories from co workers about buying or selling a house, and I always say, I have no idea what you’re talking about, I didn’t have any of that with my purchase, and I know it is because of the detailed professionalism of my realtors.

- J. Cohen

Anyone who needs a real estate agent, I highly recommend Traci and Lorna of the Bates|Hennington Real Estate Group. They took a very stressful situation and made it easy for me to understand the process. They are fantastic to work with! I was amazed at how quickly they took us through each step and how smoothly it went. Such a positive experience!

- Simmka T

To say that I was scared to buy my first home is a huge understatement. I wish I had known that you would be there every step of the way, and I would have had none of that anxiety. You took what I thought would be an overwhelming process, and simplified it for me by explaining the steps, putting me in touch with great vendors and helping me to narrow my focus. I love my new home. I think you both are great real estate professionals, and as you know I have recommended you to several of my friends who are now your clients. Thank you!

- J. Park

Seamlessly handled the sale of my investment property while simultaneously working on the purchase of another singlefamily dwelling. Knowledgeable, compassionate advocates for their clients..

- M. D’Alessandro

During the fast-moving LA real estate market of February 2022, I was planning to relocate from North Carolina and was Condo hunting long distance. Lorna emailed me numerous listings daily that met my requirements. I visited for a week in March to check out the few still on the market and made an offer that was rejected. Returned to NC and continued to review several listings a day until I returned to LA mid-April. Found the perfect place within 2 weeks and closed, smoothly, the end of May. My search would have taken much longer without Lorna’s persistence, encouragement, and knowledge of LA real estate. She took the time to work with me long distance so I could be prepared well for an on-site search. Because of her, I always felt I would find my new perfect home.

- L. Stith

THE HOME BUYING PROCESS

BREAKING DOWN THE PROCESS

1. GET PRE-APPROVED

By getting pre-approved prior to beginning your home search, this will allow you to determine what you can comfortably afford and allow us to move quickly once we find the right home.

• Pre-approval shows that you are a serious buyer

• Saves you time

• Gives you leverage in a multiple offer situation

2. NEEDS ANALYSIS

• Describe your perfect home

• What are your “must haves?”

• When do you need to be in your home by?

3. SELECT & VIEW PROPERTIES

• All brokers have access to the same information

• If you see a home on a website, at an open house, at a new construction development, etc... CONTACT US!

• Our average buyer looks at #? properties before finding the right HOME

• Communication is key to ﬁnding the right home quickly!

4. WRITING AN OFFER

• Be prepared to move quickly once we have found the right home

• Understanding a Seller’s Market vs. Buyer’s Market

• Earnest Money Deposit

• Proof of funds for your down payment and closing costs

• Pre-approval letter

• Letter to the seller

5. NEGOTIATE

After we present your offer to the listing agent, it will either be accepted, rejected, or the seller will make a counter-offer. This is when we will use our knowledge of the market & expert negotiating skills to negotiate the terms of the contract on your behalf.

CONTRACT TO CLOSE

Once seller has accepted your offer to purchase their property, it is time to bring in a professional home inspector to ensure the property meets the required standards. Any serious issues that arise will be brought to the attention of the seller and we will help you negotiate who will be responsible for fixing the noted repairs.

9. CONDUCT TITLE SEARCH

• Remove any encumbrances

• Obtain title insurance

CONTINGENCIES

• Financing Contingency - If financing the purchase, the contract will state that it is contingent on the home appraising for the contract price and financing.

• Inspection Contingency - Purchase is contingent on the property being professionally inspected and repairs done by the seller.

• Home Sale Contingency - Selling your current home.