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a guide to buying your home


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a guide to buying your home


contents 01

how to buy your dream home

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glossary

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frequently asked questions

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WHAT MAKES YOU DIFFERENT FROM OTHER AGENTS?

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previous buyer sales

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previous listing sales

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dayton favorites

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about us

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CLIENT TESTIMONIAL

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how to buy your dream home one: define your needs What are the things in a house that fit your lifestyle the best? Do you spend most of your time in the kitchen, or do you love having a large yard to enjoy? Sit down and make a list of the types of features or amenities that would make a home feel special to you.

two: get pre-approved Each bank, lender or credit union offers different “programs,” so we suggest that you shop around a bit. The specific person that you work with is extremely important as well, as their communication and understanding of the business can make a huge impact on your experience. You can rely on us for recommendations of local professionals with a fantastic track record. Most buyers need to understand how much a purchase is going to cost them out of pocket on the day of closing, and how much it will cost each month. Your monthly payment consists of “PITI.” Principal of your loan, Interest on your loan, property Taxes, and homeowner’s Insurance. Once you know what the PITI will be, you’ll need to factor in how much you expect to pay for utilities each month. Then you’ll have a complete picture of the monthly expenses involved with your home. 4

a guide to buying your home


three: let the house hunting Begin! “Location, location, location.” It’s true, the location is incredibly important, so we like to really narrow that down as much as we can. What location gets you where you want to be for the things that matter most to you, like work, school, church, restaurants, or recreational activities? Once we’ve narrowed down your location and identified your wants and needs, we’ll get in the car and go see some houses. Some clients still ride in the same car as their Realtor, which can be a great way to get a lay of the land, but more often than not, buyers like to drive separately so that they can chat about each house in between each stop on the showing tour.

four: write a winning offer In a competitive market, it’s important to understand how to make a winning offer. The seller doesn’t always want the most amount of money possible (although that will always be a big factor). Many sellers have a specific timeline for their move, and the buyer that caters to that timeline has an advantage over other buyers that may want the same home.

Writing a “clean offer” is another way to get what you want as a springboro

buyer. The less extra terms you can include, the better.

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waynesville

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how to buy your dream home cont’d. five: negotiate the terms This is where Chip’s experience in the real estate industry comes in handy. With over 10,000 hours in the business, Chip knows how to negotiate the terms to get you what you want. Most buyers will experience two rounds of negotiations. The first round comes when you make an offer, as we negotiate the price and terms of the deal. The second round comes after you have completed inspections of the property. After inspections, buyers can present a list of “defects” that may impact the safety or the habitability of the home, and negotiate to see how much the seller is willing to fix.

six: navigate home inspections Home inspections typically occur in the fourteen day period following an accepted contract. Most buyers can reasonably budget to spend around $500 to $600 on inspections that may include the whole house inspection, a termite inspection, and a radon test. Some buyers choose to bring in companies that specialize in a field to look at things like the roof, chimney, or HVAC. We will provide you with a list of trustworthy inspectors to consider. Once the inspections are completed, we enter the second round of negotiations mentioned above.

seven: prepare for and execute a successful closing Many buyers are surprised to see just how many details go into the closing process. Good real estate agents have systems in place to make a buyer’s life easier and to make sure the closing process is as smooth as possible.

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homebuyer glossary appraisal

An estimate of the market value of a home based on comparable recent sales of homes nearby and done by a licensed appraiser for a lender.

closing costs

Fees paid at closing by both the buyer and the seller. Examples include prorated taxes, title insurance, appraisal fees, and lender fees.

commission

In a typical transaction, a seller contracts to have their property listed for a set percentage of the selling price. A standard listing commission in our area is six percent. In almost every transaction, a homebuyer DOES NOT pay a commission. This is one of the reasons we feel that every buyer should have their own professional representation during a purchase.

FHA LOAN

A mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment.

HOME INSPECTION

An examination of the property’s condition, usually performed by a qualified home inspector of the buyer’s choice.

HOME WARRANTY

Service contracts that homeowners can purchase, or can be negotiated as part of the purchase contract. They cover the repair or replacement of many major home system components and appliances that typically break down over time due to normal wear and tear.

contingent

Your offer on a home has been accepted (yes!), but finalized sale is contingent on certain criteria like appraisal, home inspection, mortgage approval, etc.

conventional loan

The most common types of mortgage. A mortgage loan not insured by any government program. Each lender will offer different rates, terms, and fees so its best to get estimates from a few different places to find the best loan for you.

EARNEST MONEY

A partial payment by a buyer when submitting a contract that demonstrates the buyer’s commitment to the deal. The money, which is held in an escrow account, goes toward closing costs.

ESCROW ACCOUNT

An account established by a third- party (usually the mortgage company) to handle the exchange of money between two other parties (buyer and seller). It is used to pay for property taxes and insurance during the term of the mortgage. beavercreek

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INSPECTION PERIOD

An agreed upon number of days after the date of acceptance of the contract for the buyer to obtain inspections of the property at the buyer’s expense. During this period, the buyer must also notify the seller of any defects in writing for negotiation.

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PRE-APPROVAL

The buyer completes an application, pays a fee and supplies the necessary documentation to a lender who performs an extensive financial background check. The lender will issue a conditional commitment in writing for an exact loan amount. Note: Pre-approval does not guarantee a loan.

PURCHASE CONTRACT

An agreement between a buyer and a seller that outlines the conditions that both parties agree to, including the purchase price. A carefully written purchase contract can help the sale proceed smoothly.

TAX PRORATION

The buyer and seller must agree to how the taxes will be prorated at closing. Long proration means the seller will pay the property taxes for the previous 6-month period as well as the current period up until the closing date. Short proration means the seller will just pay the current period, prorated to the closing date.

TITLE

A collective term for all of your legal rights to own, use, and dispose of land. Includes all previous ownership, uses and transfers. The title company will provide you with the title report for you to review before accepting the property. centerville

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frequently asked questions what should a real estate agent do for me when i’m buying a home? A good real estate agent will discuss financing (price range, loans, inspection costs, etc.), be an experienced negotiator from contract to inspections to closing, and always look out for your best interests. Pick a trustworthy agent with great customer testimonials and a track record for doing what is in the best interest for the client.

I want a phenomenal deal on a house. can you help me get one? Possibly. We promise to do everything we can to help you find the right home for you at the best price possible. There are a lot of “deal seekers” out there that want to feel like they got a deal, sometimes at the cost of getting a great house. In our experience, you can spend a lot of time waiting for a fantastic deal, but in the process you might miss out on some really great homes.

Can i buy my home and sell my current one at the same time? Possibly! The climate of the market plays a factor, but so does the amount of equity that you have in your current home.

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a guide to buying your home

Do buyers pay you a commission? No. Commissions are paid by the seller in most transactions. The seller’s broker agrees to pay part of their commission to my broker. In a few very rare cases, a buyer might be asked to pay a small portion of their agent’s commission, but that is disclosed and explained up front.

what are some of the biggest mistakes buyers make? Many buyers max out their monthly budget on their mortgage (PITI) payment and don’t leave enough room to pay for utilities and have some left over for potential home repairs. Eager buyers often make an offer on a home they love without considering the dynamics of the neighborhood. I suggest that buyers drive around the neighborhood before making an offer, so they can get a feel for what the area is like when most neighbors are home from work and school.

should i tell my realtor if i’m going to an open house or new construction? Yes! When you’ve decided to work with a real estate agent, you want to make them a part of every single thing you do in the real estate market. Your agent can guide you and make sure you don’t do anything that will waste your time or cost you money.


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buying a home without all of the stress 12

a guide to buying your home


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a guide to buying your home


what makes you different from other agents? communication We understand that there are so many steps involved in buying a home. Our goal is to over-communicate and over-deliver through each part of the process, so that you can focus on the things that matter most to you.

client-based Among the most successful agents in the area, there are generally two types: transaction-based and client-based. There are good agents in both categories, but I choose to run a client-based real estate business. I’m not focused on transactions, I’m focused on people. By doing just the right number of transactions that my office can handle, I can personally be side-by-side with you virtually every step of the way.

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washington township

whenever possible, we try to take things off of your plate, rather than giving you more things to do. centerville

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previous buyer sales

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wellesley way | centerville

english bridle court | centerville

quorn court | centerville

Tanglewood drive | springboro

a guide to buying your home


forest lawn court | centerville

waynesboro way | waynesville

shadow lake way | springboro

sheffield way | waynesville

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Previous listing sales

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sprinters crossing | centerville

rooks road | centerville

wind field court | centerville

statesboro road | washington township

a guide to buying your home


plantation place | beavercreek

sunnington grove | centerville

sheffield way | waynesville

devon court| springboro

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dayton favorites downtown dayton

press coffee bar

Downtown really deserves more credit than it gets as a destination for those who consider themselves foodies or coffee connoisseurs.

Press Coffee Bar and Ghostlight Coffee have been

around since 2010 and are often recognized among the best coffee shops in the region. Reza’s Roast and St. Anne the Tart have come on the coffee scene more recently and have the town buzzing. The Oregon District boasts a wide variety of amazing, local restaurants to choose from. Coco’s Bistro and Salar are a bit more upscale, while Roost Modern Italian and Thai-9 are perfect for a casual date or night out with friends. Dayton has always been a pizza town, and recently, Old Scratch Pizza has become the new king.

st. anne the tart

Shop the Oregon Distric’s cobblestone streets for the perfect gift from Luna Gifts & Botanicals, Hedges and Wolf, and many more, or find local produce and artisanal products year round at

2nd Street Indoor Farmer’s Market.

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2nd street market

Blueberry Cafe is a feels-like-home sort of breakfast spot, with incredible omelettes and huge

pancakes! As with most popular breakfast spots in a small town like Dayton, expect a long wait if you go during popular times. After breakfast, take a hike at Sugarcreek Metro Park, a Dayton Metro Park that offers miles of wooded hiking trails and a beautiful stream the kids and dogs can play in during the warmer summer months.

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a guide to buying your home


dorothy lane market

springboro During the summer months, there aren’t many outdoor patios in the area that can rival Heather’s Cafe. Heather is a Springboro native, and she knows how to throw a party, bringing in some of the area’s most popular live musicians and offering an impressive beer menu. For a meal on the go, or a quick grocery run, head to Dorothy Lane Market. This locally owned grocery goes back more than 50 years in the Dayton area and is a pillar in the Springboro community.

centerville Lock-27 is a bar/restaurant with food that can

lock 27 image via gemcityeats

possibly be described as the best “bar food” in Dayton. They serve up incredible wings and burgers, but I recommend ordering off of the daily special menu. They also brew their own beer. The Locktender is a light, popular choice. Meadowlark is a hidden gem, featuring a unique menu created with locally-sourced ingredients, and offering vegetarian and vegan options. They have a great little bar area with a menu of delicious cocktails.

Boston Stoker may sound national, but it’s a locally owned coffee shop. They may just have the best pour over and the best latte in the suburbs.

grant park image via no9images

Centerville is known for its parks. You’ll find wellkept playgrounds and trails in just about every neighborhood. One of the best is Grant Park and Grant Nature Nook. Park at Normandy Elementary and head into the woods. You’ll find a great hiking trail and a beautiful 60-foot bridge crossing over Holes Creek.

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about us c h i p j am es Realtor since 2007 Past Recipient of “Dayton’s Top 5 Under 40”

My goal is to make the real estate experience as stress-free as possible for everyone that I work with. Born and raised right here in the Dayton area - a fourth generation Daytonian - I’m proud to call this rejuvenated city my home! My family and I want to be part of Dayton’s continued growth, and we strive to make a positive impact in our communities through real estate and our other passions.

k at i e m at h ew s Client Relations | Marketing

As my clients can attest, Katie’s job is way bigger than her title may suggest. A more appropriate title would be something clever like “Chief Marketer,” or “Organization Guru,” or “Client Communications Specialist.” Katie is a master at multi-tasking which makes her an ideal fit in her role as she is constantly juggling different aspects of each transaction. She plays a major role in making sure each person that we work with is communicated with through each phase of the process.

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client testimonial “The buying and selling process is very stressful. A perfect deal is rife with questions around process, timing, deadlines, and requirements. Hiring Chip gave us both an advocate and an expert to handle all of those matters. When Chip would communicate with us, it was obvious that he spared us significant back and forth and was providing us concrete information to move the process forward. Chip prepares and is proactive, no matter the developments in our transactions, we were never surprised. Expert advice and negotiation techniques, unparalleled marketing, and constant communication. If you want someone with a standard of excellence that will no doubt exceed your own, I’d recommend you hire Chip.” - Tim and Amanda Wilson

waynesville

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chip james | Keller williams community partners

Profile for Chip James

A Guide to Buying Your Home  

A Guide to Buying Your Home | Created by Chip James Real Estate | www.choosingdayton.com

A Guide to Buying Your Home  

A Guide to Buying Your Home | Created by Chip James Real Estate | www.choosingdayton.com

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