A Buyer’s Guide To
PURCHASING A HOME
“
Hello!
Our team is excited to help you find the perfect home for YOU! As a team, we offer our buyers an immersive experience from start to finish. We are your Buyer
Specialists, Jose, Brian and Keiton. We help our buyers find their perfect home and are equipped to help you discern exactly what you’re looking for in a property. We will guide you through viewing properties that pique your interest and help you narrow your viewpoint. Once you’ve found THE ONE, our transaction coordinator
Amy Selph will be there every step of the way as you make your way to closing day. Our mission is to become YOUR trusted real estate experts. We look forward to get started on this home-buying journey with you!
Brian Martin, Keiton Stender, Jose Vega, & Jimmy Bynum WE LOOK FORWARD TO WORKING WITH YOU
(352) 316-3477
Brian@themillsgroupkw.com
(352) 361-0769
Keiton@themillsgroupkw.com
(352) 278-3085
Jose@themillsgroupkw.com
(352) 872-3282
Jimmybynumii@kw.com
JONATHAN MILLS
WELCOME Founded on the premise of servant leadership, Jonathan Mills, founder of The Mills Group, began his entrepreneurial journey serving lemonade from a stand that he made in his parent's driveway at the age of 9. Shortly after, he began raking leaves for neighbors, quickly scaling to a full-fledge lawn care business through his high school years serving clients including the #1 luxury builder in Gainesville. Answering one need after another for the community, Jonathan finally found real estate in 2015. Learning every aspect of the industry to best guide his clients through each individual transaction, he realized he needed to grow a team around him to offer the highest level of service consistently!
The first addition to the team in 2017 was his mother as a buyer’s agent and she supported him as he diligently worked to grow the team for six years. Since 2020, the team has grown larger and stronger to include a full time administrative support staff and four full time agent specialists. The Mills Group looks forward to working with you and is excited to make this a seamless process full of positive experiences!
| www.themillsgroupkw.com | sales@themillsgroupkw.com | 352-559-2140 |
MEET YOUR BUYERS TEAM
Jose Vega
Buyers Specialist (352) 278-3085
Keiton Stender Buyers Specialist (352) 361-0769
Brian Martin
Buyers Specialist (352) 316-3477
Jimmy Bynum Buyers Specialist (352) 872-3282
MEET YOUR
TEAM LEADERSHIP
Jonathan Mills
Founder + Team Leader
Noah Hastay
Director of Operations ADMINISTRATION
Amy Selph
Executive Administrator
Meg Church
Marketing Director
Erin Martin
Internal Sales Agent
Jeremiah Gadway
Property Solution Specialist
Jenny Delantar
Transaction Coordinator LISTING SPECIALISTS
Sheila Blanco
Listing Specialist
Farrah Ruano Listing Manager
| www.themillsgroupkw.com | sales@themillsgroupkw.com | 352-559-2140 |
STEPS TO CLOSING
01
THE RIGHT TIMING
02
GETTING PREAPPROVED
03
FINDING THE RIGHT HOME
04
How long are you planning on living in your next home? Consider the benefits to owning a home
How much can you afford? Consider the different loan programs available (FHA, VA, Conventional) Make sure your credit is in good shape (620+) What kind of home are you looking for? How many bedrooms and bathrooms? Are school districts important?
FINANCING PROCESS
Get a home inspection Review disclosures Order the appraisal Securing financing
05
Attend the final walkthrough Schedule your move Change over utilities
CLOSING DAY
PREPARE FOR THE
LENDER
Mortgage lenders recommend you
FINANCIALS AND MORTGAGE PAYMENT
do not stretch your budget for your new home beyond an amount that is
3
to
5
times
your
annual
household income. If you are not purchasing a home with cash, you will need a mortgage pre-approval provided by your mortgage lender. A lender will work with you to get a
Study your credit report. Make note of any errors you see and talk to your lender about them. Compile necessary documents, including pay stubs, bank statements, and past tax returns. Determine the monthly payment you are comfortable with - the payment will include your property taxes and homeowner's insurance.
loan that meets your needs and makes sense for your long term goals. We have carefully selected our preferred lenders because they are experts at assisting our clients in finding the loan program best for them.
SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspections. A down payment is typically between 3.5% 20% of the purchase price Earnest money is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit. Closing costs for the buyer are on average an additional 2% - 5% of the loan amount The average home inspection costs $400 - $600
THE TEN COMMANDMENTS OF
HOMEBUYING I. Thou shalt not change jobs, become selfemployed, or quit your job II. Thou shalt not buy a vehicle (or you may be living in it!) III. Thou shalt not use credit card excessively or let current accounts fall behind IV. Thou shalt not spend money you have set aside for closing V. Thou shalt not omit debits or liabilities from your loan application VI. Thou shalt not buy furniture VII. Thou shalt not originate any inquiries into your credit VIII. Thou shalt not make large deposits without checking with your loan officer IX. Thou shalt not co-sign a loan for anyone X. Thou shalt not change bank accounts *PLEASE DISCUSS SPECIFIC CIRCUMSTANCES WITH YOUR LOAN OFFICER PRIOR TO MAKING ANY CHANGES
BUYING YOUR HOME Checklist
1
PARTNER WITH OUR TEAM
2
GET PRE-APPROVED
Have a consultation Get to know neighborhood inventory See what's about to the hit the market Gain access to off-market properties Complete needs assessment Understand what is available
Understand what you can afford Determine your monthly mortgage payment Understand your debt to income ratio Prepare for escrow Obtain a pre-approval letter Ensure you have the funds
3
FIND YOUR NEW HOME
4
MAKE OFFER & NEGOTIATE
5
UNDER CONTRACT
Compare home and neighborhood averages, narrow down neighborhoods you want Schedule home tours and plan an itinerary with your agent Nix homes that don't meet the mark Identify favorite homes Decide on your dream home
Review contract terms carefully with your agent Negotiate purchase price up or down Review disclosures and acquire a property disclosure from the seller Shop home insurance options Prepare for down payment & earnest money deposit Request a list of what conveys with the property Choose a target closing date Sign the offer Deliver escrow check Stay in close contact with your agent
Begin your financing application Schedule home inspection/negotiate repairs Acquire home insurance and send proof to your lender Solidify both contract effective and allowable move-in dates Order an appraisal Conduct a title search Certify funds for closing Schedule your closing Stay in close contact with your agent, lender, and title company
6
7
BEFORE YOU CLOSE
Transfer funds for closing Set a moving date & reserve a moving company Change your address with USPS, your bank, and other institutions Set up your utilities to be activated or transferred Confirm that all contingencies have been met Schedule the final property walk-through Designate a safe, dedicated space to save your final paperwork Stay in close contact with your agent, lender, and title company
CLOSING DAY: WHAT TO BRING Connect with the title company to confirm the amount of funds needing to be wired for closing costs & your loan down payment. Bring a printed confirmation of your wire transfer Bring 2 forms of government-issued proof of identification (preferably a state ID and your social security card)
8
CLOSING DAY
Sign closing disclosure, promissory note, and all other documentation Title transfer Deed delivery Save your paperwork in your pre-designated spot Get your keys - congrats, it's all yours!
START HOME SHOPPING RESEARCH MORTGAGES AND LENDERS Get clear on what you want and what you need Spend time in each area and make sure the space works for you. Find properties in your price range and in your preferred neighborhoods. Visit open houses and have one of our team members schedule private showings.
Make a list of the things you'll need to have in the house. Before you begin touring homes, get clear on how
many bedrooms and bathrooms you'll need and get an idea of how much space you desire. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard for your kids
and/or pets to play in? Once you've made a list of your must-haves, don't forget to think about the kind of neighborhood you want, the types of schools in the area, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns and how good the rate of home appreciation is in the area. Understand there will always be compromises, so consider what you're willing to give up and what you are not.
PROFESSIONAL TIPS ON
MAKING A GOOD OFFER
Competitive Offer A good rule of thumb, specifically in a seller’s market, is to start strong. To do this, we will assess the property’s market value with a CMA (complete market analysis) and determine what it's worth in the current market.
Earnest Money The earnest money a.k.a. escrow deposit signals how serious a buyer you are. Be sure you are serious about buying this home. If you cancel after your inspection period, you’ll lose your earnest money.
Gift of Time Express your willingness to work with the sellers’ timeline to go to closing. We can ask the sellers when their ideal closing date would be so the offer will make them feel like they are winning!
Limit Contigencies Contingencies can add time to the negotiation process. They’re beneficial to buyers, but can be a nuisance to sellers who are ready to move on fast. It is important to avoid any unnecessary contingencies.
Escalation Cause An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain threshold. Keep in mind, you’re informing the seller of the true amount you’re willing to pay, which may be significantly over the home’s appraised value.
ORDER AN
INSPECTION
During the inspection period, we will schedule an inspection with a reputable home inspector to do a thorough investigation of the property. Once this is complete, the inspector will provide us with a detailed inspection report.
A home inspection can help identify deficiencies in a home you’re considering purchasing. If the inspection reveals problems and repairs are needed, you may be able to negotiate with the seller to fix those issues, but this isn't always the case.
NEGOTIATE
FINAL OFFER
Here are your options after a home inspection reveals problems: 1. Ask the seller to make the most important repairs 2. Ask for a credit toward your closing costs 3. Ask the seller to reduce the sales price to make up for the repairs 4. Cancel your contract (if you have an inspection contingency in place) 5. Move forward with no repairs made a.k.a. "As Is"
CLOSING DAY CLOSING DAY Closing is when you sign all final documents, officially purchase the home, and receive your new home’s keys! Typically, closing takes one hour.
FINAL WALK THROUGH We will do a final walk through of the home within 24 hours of closing to check the property’s condition. This final inspection takes about 15-30 minutes. We will make sure any repair work that the seller agreed to complete has been done. We will be sure to: • Make sure all appliances are working properly • Run the water in all the faucets and check for any possible leaks • Open and close garage doors with garage door opener • Flush toilets • Run the garbage disposal and exhaust fans
CLOSING APPOINTMENT Who will be there: • Your agent
BRING TO CLOSING • Two forms of identification
RECEIVE YOUR KEYS Congratulations! It was a lot of hard work but you are now officially home owners!! Time to move in, get settled, and get to know your new neighbors!
testimonials LAURIE T. We owe a huge thanks to The Mills Group for getting us into our new home, especially buyer's specialist Keiton Stender. We were challenging to say the least. We needed a quick closing and even switched houses when our dream home suddenly came on the market. I don't believe we could have closed without Keiton's fast and dedicated work. He stuck with us through it all, reassuring and answering all our questions.
CHELSEA T. Such a great group to work with. They were super prompt when asked to see a home, and had lots of information about the home and the surrounding area. My husband and I have purchased two homes through them and each time has been an amazing experience!
IAN H. Working with The Mills Group was by far the best home buying experience that we have ever had. From the start, they identified all of our families wants and needs, connected us with an amazing local lender ( Chris Doering Mortgage) and answered all of our questions we had about the entire process. There wasn’t a moment during the transaction that we didn’t know what the next step was going to be. And on top of all of that, after seeing just 3 homes, we got our offer accepted on THE PERFECT home for us. AND WE CLOSED WITH MORE THAN $20k IN INSTANT EQUITY!! Cannot thank their entire team enough for such an amazing process. The Mills Group ROCKS!
testimonials THOMAS B. The Mills Group has been very helpful and responsive. Throughout the home searching and buying process, they have been great communicators and knowledgeable about Gainesville. They've gone above and beyond with helping to coordinate pre-closing activities and helping me get all sorts of stuff taken care of, which was a huge help since I was moving into town from a hundred miles away.
KRISTEN S. Jonathan, Jerry, Brian, and Amy are awesome. They helped me to locate an off market listing so I wouldn’t have to fight with the masses. Thank you!!!!
DANIELLE M. Brian Martin is THE realtor to work with! As a first-time homebuyer, it can feel really intimidating to search for a home and ensure it meets your budget, needs, and/or wants. Brian helped me with exactly all of that to find a home as "right" as Goldilocks — the perfect location, the perfect price (he negotiated a whopping $15,000 for me off asking price & the seller agreed), and the perfect amount of space I needed. He's understanding, hard-working, communicative, and a true teammate to you in the home buying process. Thank you, Brian & team, for making the first-time-buying process seamless for me!
number
one.
Real Estate Team in Gainesville
YOUR REAL ESTATE EXPERTS
www.themillsgroupkw.com sales@themillsgroupkw.com (352) 559-2140
number
one.
Real Estate Team in Gainesville
WWW.THEMILLSGROUPKW.COM 352-559-2140