Buyers Representation Guide

T H E P OW E R O F

BU YER R EPRE SE N TAT ION GUIDING YOU WITH STRATEGY, ADVOCACY, AND EXPERTISE

2

CONTENTS A PARTNER BY YOUR SIDE COMMITTED TO YOU 5 THE BENEFIT OF EXPERIENCE AND EXCLUSIVE PARTNERSHIP

6

AGENCY REPRESENTATION EXPLAINED 8

WHY THE SHRINER GROUP & FIRST TEAM REAL ESTATE OUR MISSION 11 LOCAL REACH AND COMPANY CULTURE

11

OUR SUPPORT TEAM 12 LEADING REAL ESTATE COMPANIES OF THE WORLD

14

GLOBAL EQUESTRIAN ADVISORS 18

THE JOURNEY OF HOMEOWNERSHIP INITIAL CONSULTATION 19 FINANCIAL ASSISTANCE AND PRE-APPROVAL

19

LOCATING AND VIEWING PROPERTIES 20 CRAFTING A STRATEGIC OFFER 21 MOVING FROM OFFER TO AGREEMENT

22

MANAGING CONTINGENCIES, INSPECTIONS & TIMELINES

24

FINAL STEPS TO CLOSING 27 THE HOME PURCHASE PROCESS 28

THE BUYER PROCESS FAQ 30 GLOSSARY OF TERMS 32

3

A PARTN ER

BY YOUR SIDE FIRST TEAM REAL ESTATE Your next chapter. Your next move. Your next beginning. We all picture ourselves stepping into that next place, that next season of life. Through The Shriner Group at First Team Real Estate, your vision of what’s ahead can become reality. We are dedicated real estate professionals who craft seamless experiences with unmatched care and attention to every detail. We take the time to understand you. We take the time to understand what next means for you. Because when you discover it, nothing else measures up. Nothing compares to what’s ahead.

REALTRENDS TOP BROKER REPORT First Team Real Estate is honored to be featured in the RealTrends 500 report. Our offices have been recognized as top-performing leaders in both overall sales volume and year-over-year revenue growth, earning distinction as a “Verified Best Brokerage” by RealTrends.

# 10 $6.03B 5,831 +$995M

NATIONAL RANK AMONG PRIVATE INDEPENDENT BROKERAGES

SALES VOLUME

SALES TRANSACTIONS

YEARLY SALES VOLUME INCREASE

COMMITTED TO YOU Purchasing a home in today’s real estate landscape requires more insight and strategy than ever before. Our mission is to deliver an elevated level of representation, leading you confidently through each phase of the process — protecting your interests at every turn. Our team provides steady, experienced guidance, serving as a composed and professional presence from start to finish. From clarifying your real estate objectives to structuring strong offers and navigating negotiations, The Shriner Group streamlines the intricate journey of finding and securing the right home.

Guiding You Through the Buying Journey When you choose The Shriner Group, you’re investing in far more than the hours spent on a single purchase — you’re gaining the depth of knowledge and seasoned insight that comes from years of dedicated experience. Having a trusted professional by your side creates a meaningful advantage as you search for the right home and connect with valuable local resources.

An experienced advisor brings clarity and perspective, serving as a steady presence throughout what can often feel like a complex and demanding process.

5

THE BENEFIT OF EXPERIENCE AND EXCLUSIVE PARTNERSHIP Exclusive representation means having a dedicated professional whose full attention and fiduciary commitment are focused solely on you. Your agent manages the many moving parts involved in purchasing a home and is compensated only when you successfully close on a property. Below are ten reasons partnering with an experienced professional is one of the smartest decisions you can make:

Local Insight and Lifestyle Expertise In addition to access to all available listings, a seasoned real estate professional brings deep knowledge of the local market — including offmarket opportunities, pricing trends, neighborhood nuances, and what truly holds long-term value. That insight helps you move forward with confidence and make well-informed decisions.

Strategic Negotiation Expertise An experienced sales professional works to secure the best possible price and terms for your purchase — helping you avoid overpaying. With insight gained from countless transactions, your advisor builds a smart strategy, evaluates each opportunity, and negotiates confidently on your behalf.

Professional Connections Real estate professionals maintain a trusted network of partners — from inspectors to lenders and beyond.

These relationships help streamline the process and may even uncover opportunities you wouldn’t find on your own.

6

Interpreting Contracts and Disclosures Real estate transactions require extensive documentation — from purchase agreements to inspection reports and required disclosures. A knowledgeable sales professional understands the details within these forms and guides you through them carefully, helping protect you from avoidable and potentially costly errors.

Proactive Problem Solving Every real estate transaction brings unique challenges. An experienced sales professional has encountered a wide range of obstacles and uses that insight to anticipate issues, resolve concerns efficiently, and keep your purchase moving forward.

Efficiency and Time Management While you see your sales professional at showings and closings, much of their work happens behind the scenes — researching homes, coordinating with agents, and managing paperwork. Their experience keeps the process efficient and saves you valuable time.

Objective Guidance Buying or selling a home is often an emotional process — for everyone involved. Your sales professional provides steady perspective, helping ensure feelings don’t cloud judgment or disrupt the progress of your transaction.

Ongoing Guidance The relationship doesn’t end at closing.

Many sales professionals continue to provide value long after the transaction — offering insight on home improvements, market conditions, and the right time to make your next move.

Protecting Your Investment Real estate mistakes can be expensive.

From overlooked disclosures to misunderstood contract contingencies, an experienced sales professional helps identify potential risks early and works to safeguard you throughout the transaction.

Commitment to Growth The real estate market and its regulations are constantly changing.

Dedicated sales professionals pursue ongoing education to stay current, ensuring they provide informed, highlevel service to every client.

In essence, commission reflects the time, expertise, and preparation your sales professional and brokerage have invested long before your offer is written — all to guide you confidently through a successful purchase. The Shriner Group is a team of seasoned professionals, supported by strong leadership and dedicated staff, committed to delivering an exceptional standard of service.

AGENCY REPRESENTATION EXPLAINED The Shriner Group at First Team Real Estate will enter into an exclusive agency agreement with you, formally establishing a relationship in which we represent your interests throughout the home purchase process. This agreement creates a fiduciary responsibility, requiring us to uphold duties of loyalty, honesty, confidentiality, obedience, and reasonable care. Simply put, it ensures your sales professional is legally and ethically committed to acting in your best interests at all times.

Limited Agency Representation In certain transactions, a brokerage may legally represent both the buyer and the seller — and in some cases, multiple buyers pursuing the same property. The Shriner Group may act in this capacity only with your informed, written consent.

8

HOW COMPENSATION WORKS Brokerage Commission The agency agreement is a contract for professional representation between you and The Shriner Group, provided in exchange for a commission. Commission rates are not set by law; they are determined by each brokerage based on the services and expertise they provide.

How Compensation Is Divided Compensation for buyer representation is allocated between the sales professional and the brokerage to support operational costs, resources, and the infrastructure required to deliver exceptional service.

Who Covers the Commission?

In many transactions, sellers choose to compensate the buyer’s sales professional from the proceeds of the sale, with commissions reflected in the purchase price. If a seller does not offer this compensation, buyers may request it within the purchase agreement, allowing the amount to be incorporated into the final price and potentially financed through a loan. In some situations, buyers may also elect to compensate their sales professional directly if it better suits their overall strategy.

9

10

SUCCESSFUL TOGETHER

W H Y THE SH RINER GROU P & FI RST TE AM REA L ESTAT E? At The Shriner Group and First Team Real Estate, we believe luxury is defined by the level of service — not the price of a home. To us, luxury means delivering exceptional care, insight, and a refined experience to every client, regardless of location, property size, or price point.

OUR MISSION It’s easy to believe all real estate brokerages and agents offer the same experience. We see it differently. What sets us apart isn’t just what we do — it’s how intentionally we do it. Our role extends beyond helping clients buy and sell property; we serve as trusted advocates for our communities and for the industry as a whole. Every interaction is an opportunity to create meaningful, lasting value for the clients we represent — locally and beyond. We believe luxury is not defined by a price point, but by the level of care, expertise, and commitment behind every detail. Luxury is an experience — one rooted in exceeding expectations and raising the standard.

Choosing a different path isn’t always the easiest route, but for us, it’s the only one worth taking.

LOCAL REACH & COMPANY CULTURE: THE STRENGTH OF TRUE COLLABORATION Our Mission: Support one another and excel in every aspect of our business. In today’s real estate environment, strong local relationships are essential to reaching the right buyers, uncovering opportunity, and guiding transactions to a successful close. Our culture is rooted in teamwork, open collaboration, and a genuine commitment to the communities we proudly serve. Our region offers a diverse landscape of cities, towns, and neighborhoods — each defined by its own character and lifestyle. That’s why partnering with a knowledgeable local professional who understands the nuances of the market is so important.

Our local presence sets us apart — each week, our leadership, brokers, and sales professionals come together in company-wide meetings to share market intelligence, discuss new listings, and align on active buyer needs.

This consistent communication ensures our clients benefit from timely insight into shifting market conditions, property value trends, regulatory updates, and evolving community developments. By leveraging these internal relationships, our team can identify off-market opportunities, navigate specialized segments of the market, and maintain strong connections with trusted industry partners — including inspectors, contractors, and lenders.

Our collaborative culture directly enhances the level of service we provide — empowering our sales professionals to deliver thoughtful representation and strategies tailored to each client’s goals. In a competitive and fast-moving real estate landscape, where accurate information and timely access make all the difference, the combination of local expertise and a unified company culture remains a powerful advantage.

11

OUR SUPPORT TEAM The staff and leadership at First Team Real Estate form a distinctive group of skilled professionals who bring diverse strengths together with one shared purpose: delivering exceptional real estate service to our clients. With a strong support system behind every sales associate, our clients benefit daily from dedicated in-house marketing and visual media specialists, transaction coordination, legal guidance, operations management, and relocation services.

12

DE DICATE D SU PPORT STAF F PROVIDING A STRONG FOUNDATION FOR SUCCESS ACCOUNTING AND

LEADERSHIP

OPERATIONS

Agent Concierge

Our executive leadership team is made up of experienced brokers with deep market

This dedicated team works behind Accounting

insight — trusted professionals who provide

the scenes to keep our brokerage

strategic guidance and meaningful

running efficiently each day —

support to our sales associates.

managing wire transfers, directing

Their direction ensures we

Operations

remain well-positioned to serve our clients at the

Managing Brokers

highest level in today’s

calls, resolving questions, and supporting our agents so you — our clients — receive the highest level of service.

evolving real estate landscape.

TRANSACTION MANAGEMENT

IN-HOUSE LEGAL COUNSEL

Our transaction management team coordinates and monitors every step of the process from start to close. Experienced and highly trained, they handle all documentation to maintain an organized, efficient, and on-schedule experience for our sales professionals and their clients.

Development Services Videography

MARKETING Our in-house marketing team delivers awardwinning creative services designed to showcase our

Photography Design Team

clients and their properties at the highest level — ensuring every message is strategic, engaging, and visually refined. Through graphic design, professional photography and video, digital campaigns, and more, this talented group produces forward-thinking marketing tailored to today’s real estate landscape.

13

I’M LOCAL. I’M GLOBAL.

LEADING RE COMPANIES OF THE WORLD We are proud to belong to the global network whose name says it all – Leading Real Estate Companies of the World®. Only the best of the best are part of this collection.

Wherever you go, the Leading Real Estate Companies of the World® logo is a symbol of the finest local real estate professionals.

550 4,800 135,000 70+ COMPANIES

OFFICES

SALES ASSOCIATES

COUNTRIES

14

WE CAN ASSIST YOU ANYWHERE IN THE WORLD As an affiliate of Leading Real Estate Companies of the World®, we have access to the highest caliber of real estate professionals in over 70 countries and across six continents.

When buying or selling property outside of our local market, our world-class connections can help with real estate needs throughout our continent and to points around the globe. Let us introduce you to a carefully selected sales associate that will provide you with extraordinary service – anywhere your real estate needs take you. Our global network is comprised of the very best real estate companies and the most talented professionals in the world.

AS AN AFFILIATE OF LEADING REAL ESTATE COMPANIES OF THE WORLD®, WE HAVE ACCESS TO 135,000 REAL ESTATE PROFESSIONALS IN OVER 70 COUNTRIES. Andorra Anguilla Antigua and Barbuda Argentina Aruba Australia Bahamas Barbados Belgium Belize Bermuda Brazil Bulgaria Canada Cayman Islands Chile China Colombia Costa Rica Croatia Cyprus Czechia Dominican Republic El Salvador

Finland France French West Indies Germany Ghana Greece Guam Hong Kong Indonesia Ireland Israel Italy Japan Lebanon Luxembourg Malaysia Mauritius Mexico Montenegro New Zealand Nigeria Panama Peru Philippines

Portugal Puerto Rico Saint Barthélemy Saint Martin Singapore Sint Maarten Slovakia South Africa South Korea Spain Sri Lanka Sweden Switzerland Thailand United Arab Emirates United Kingdom United States of America Uruguay Vietnam Virgin Islands, British Virgin Islands, U.S. Zambia Zimbabwe

15

U.S. HOME SALES VOLUME AMONG THE TOP 500 U.S. REAL ESTATE FIRMS. Our invitation -only network was responsible for $272 billion in annual home sales volume – greater than any other top 500 U.S. real estate firms.

$272

$265 $231 $204 $180 $153

$84 $42

KELLER WILLIAMS

COMPASS

COLDWELL BANKER

BERKSHIRE HATHAWAY HOMESERVICES

EXP REALTY

RE/MAX

THE REAL BROKERAGE INC.

$37

CENTURY 21

Volume shown in billions of U.S. Dollars.

For informational purposes only. This chart includes only national real estate organizations with more than $20 billion in sales volume. Entities whose corporate ownership holds membership in LeadingRE are not shown as a separate line item on this chart. In compiling this report, LeadingRE relies on third party sources. The information set forth in the chart above is sourced from the 2025 RealTrends 500, showcasing production for calendar year 2024, accessible via realtrends.com. Neither LeadingRE nor its member companies are responsible for the accuracy of third-party data presented herein. © 2025 Leading Real Estate Companies of the World.® All Rights Reserved. | C–Chart Comparison. 04.25. Equal Housing Opportunity.

16

FROM COAST TO COAST AND EVERYWHERE IN BETWEEN, WE’VE GOT IT COVERED As an affiliate of Leading Real Estate Companies of the World®, we have a real estate professional ready to help you find your ideal home throughout our continent and to points around the globe. Whether it’s a country house, a property in a resort location, or an in-town apartment, we can help you find the perfect property when you work with the best names in real estate – Leading Real Estate Companies of the World®.

REAL ESTATE IS STILL A LOCAL BUSINESS – Our network is comprised of the very best locally and regionally branded real estate professionals in the United States. With a local focus and a national/global view, our associates will ensure the best personal attention with the finest access to quality real estate connections.

17,000

CLIENT INTRODUCTIONS MADE EACH YEAR

330

CLIENT INTRODUCTIONS MADE WEEKLY WORLDWIDE

67

NUMBER OF COUNTRIES WHERE INTRODUCTIONS WERE MADE LAST YEAR

17

A NETWORK DEDICATED TO THE EQUESTRIAN LIFESTYLE

GLOBAL EQUESTRIAN ADVISORS At Global Equestrian Advisors, our mission is to bring together a worldwide network of expert agents united by a deep commitment to the equestrian lifestyle. We strive to foster a culture of collaboration and shared knowledge, where professionals from around the globe exchange best practices and insights to elevate the standard of service within the equine industry.

Our goal is to deliver an unmatched level of “white glove” service to the horse community, ensuring that every interaction is defined by excellence, integrity, and genuine care.

We are passionate advocates for the wellbeing of horses and the preservation of their environments, working to raise awareness and support for the equine world.

We’re proud to be one of the only three members in the entire state of Idaho – and the only representatives serving Southwest Idaho.

This distinction underscores our dedication to representing equestrian properties with the highest level of expertise and regional insight.

More than a professional network, Global Equestrian Advisors is a community of likeminded individuals who understand the unique needs of horse farms and ranches.

Each agent brings deep experience in equestrian properties and a profound respect for the horses and the people who care for them.

Together, through our shared knowledge and unwavering commitment, we aim to make a meaningful impact on the equine industry – enhancing the lives of horses and those who love them.

18

SUCCESSFUL TOGETHER

T H E JOU RNEY OF HOMEOW N ERSH I P INITIAL CONSULTATION Our first meeting positions you for success — providing access to on- and off-market opportunities, including exclusive and upcoming listings. We also prepare you to move decisively and submit strong offers when the right home appears in a competitive market.

Understanding Your Real Estate Goals •

Your desired timeline for purchasing

•

Previous home buying experience

•

Comfort level with risk and competition

•

Financing plans and loan pre-approval, if applicable

Refining Property Search Criteria •

Preferred areas and neighborhoods

•

Target price range

•

Home size, architectural style, and desired features

•

Must-haves and essential requirements

•

Property condition and willingness to renovate or update

•

School zones, commute times, walk-ability, and lifestyle factors

FINANCIAL ASSISTANCE AND PRE-APPROVAL Before beginning your search, it’s important to review your finances and secure preapproval from a lender if you plan to finance your purchase. Your sales professional can offer guidance and resources to assist with your financing needs, including: •

Share trusted lenders to help you get pre-qualified and confirm your budget

•

Recommend obtaining pre-approval contingent upon your chosen property

•

Work with your lender on complex scenarios, such as bridge financing to buy before you sell

•

Assist in gathering and delivering required documentation

•

Meet with the appraiser and provide relevant market data to support value

Working with a Lender Beyond pre-approval, a lender can outline estimated down payments and closing costs within your target price range, as well as project your anticipated monthly payment. They can also explain the various loan options and programs available to you based on your qualifications.

19

LOCATING AND VIEWING PROPERTIES Our sales professionals consistently preview homes, monitor local market trends, and guide you toward the right opportunity. The Shriner Group supports your search in several ways: •

Narrow property options and refine search criteria based on your priorities —including location, size, features, style, and budget

•

Create automated listing alerts aligned with your preferences

•

Share quarterly market insights and updates

•

Introduce off-market and pre-market opportunities as they become available

•

Coordinate with The Shriner Group to arrange private showings

•

Plan routes and tour homes together

•

Suggest properties available for in-person viewing at open houses

•

Provide monthly market updates and reports

•

Discuss the strengths and considerations of each property after touring

Evaluating Selected Properties The Shriner Group provides professional guidance in analyzing how a property measures up against comparable homes currently on the market or recently sold: •

Obtain the Disclosure Package, Preliminary Title Report, and other relevant documents from the listing agent

•

Review whether additional inspections or reports are advisable and establish appropriate contingency timelines

•

If the property is part of a Homeowners Association (HOA) and documents have not yet been provided, explain the standard process and timeline for obtaining and reviewing them

•

20

Recommend a reputable Title and Escrow company

CRAFTING A STRATEGIC OFFER Once you’ve identified the right property, The Shriner Group will help determine strong pricing and terms, then negotiate on your behalf to position your offer for success.

•

Connect with the listing agent to gather insight on competing offers, seller priorities, and submission timelines

•

Analyze comparable sales and review pricing strategy and terms for your offer

•

Draft a strong, well-structured offer including required advisories and disclosures; submit it with your loan approval letter and proof of funds

•

Obtain all necessary signatures to ensure your offer package is complete

Positioning Your Offer for Success Real estate professionals aligned with respected brands — and recognized by their peers — can play a meaningful role in helping sellers evaluate competing offers.

•

Deliver the offer promptly, either in person or electronically

•

Maintain ongoing communication and relay any counteroffers for your consideration

•

Negotiate on your behalf and prepare any necessary addenda or counteroffers

Navigating the Negotiation Process After submitting an offer, you should be prepared to negotiate key elements — including price, deposit, inclusions, and critical timelines. Beyond understanding your budget and priorities, partnering with a skilled negotiator is essential to avoid agreeing to terms that exceed your comfort level. The Shriner Group will guide you through the various scenarios that may arise before securing a fully accepted agreement.

•

Multiple Offers: In high-demand, low-inventory markets, you may find yourself competing with other buyers. In these situations, careful due diligence — by both you and your sales professional — is essential to craft a strategic, competitive offer that aligns with your true willingness to pay.

21

MOVING FROM OFFER TO AGREEMENT Once negotiations are finalized and both parties reach mutual terms, you’ll advance to the next phase of the buying process. During this period, you’ll have a defined time frame to complete the contractual conditions outlined in your agreement — such as conducting inspections and finalizing financing. After contingencies are removed, the agreement becomes legally binding.

Congratulations! This marks the beginning of the transaction phase. The Shriner Group will walk you through each requirement outlined in your accepted contract to ensure a smooth and organized path to closing.

22

MANAGING CONTINGENCIES, INSPECTIONS & TIMELINES Contingencies — including inspections, loan approval, and appraisals — act as important protections, giving buyers the opportunity to evaluate the property and finalize financing.

Because several contingencies may arise throughout the transaction, The Shriner Group is there to guide you through each one with clarity and confidence.

•

Recommend or help coordinate qualified home inspectors

•

Schedule inspection appointments

•

Share and review inspection reports with you

•

Communicate with your lender as needed

•

Coordinate appraiser access and provide comparable data when necessary

•

Offer resources and options for homeowner’s insurance — a vital step in today’s insurance environment

•

Help prepare and submit repair requests, if applicable

Home Inspection Process As part of your due diligence, you may choose to complete a variety of inspections and evaluations on the property. You will receive a Buyer’s Due Diligence Checklist outlining recommended inspections and areas to consider. We encourage you to attend the conclusion of each inspection so the inspector can highlight any concerns and address your questions directly. A detailed report will follow, identifying items that may require attention.

If repairs are warranted, your sales professional can help request them from the seller, or, if the property’s condition is not acceptable, you may cancel the agreement — provided your contingencies remain in place.

24

The Home Inspection Process

MUTUALLY ACCEPTED CONTRACT

CONDUCT INSPECTION

ARE REPAIRS NEEDED?

NO

CONTRACT CONTINUES

SELLER AGREES TO PERFORM ALL REPAIRS

CONTRACT CONTINUES

BUYER ACCEPTS LAST REPAIR OFFER

CONTRACT CONTINUES

YES

REQUEST REPAIRS

SELLER AGREES TO NONE OR SOME REPAIRS

NEGOTIATE REPAIRS

LAST REPAIR OFFER REJECTED

CONTRACT RELEASED

25

26

FINAL STEPS TO CLOSING Closing marks the moment you officially take ownership of your new home. As that day approaches, your sales professional and lender carefully oversee the transaction to ensure any last-minute details are addressed before you arrive at the settlement table.

•

Recommend trusted movers, designers, landscapers, contractors, cleaning teams, and home maintenance providers as needed

•

Schedule the final walkthrough of the property

•

Provide information and options for a home warranty policy

•

Attend the settlement signing with you

•

Deliver the keys once title has officially recorded

Congratulations on your home purchase!

27

The Home Purchase Process REVIEW OBJECTIVES & SEARCH CRITERIA

FINANCING APPROVED?

SEEK FINANCING

NO

YES NO ANYTHING WORTHWHILE AVAILABLE

NO

CAN YOU WAIT?

YES

WAIT

YES

SCHEDULE TOURS & VISIT OPEN HOUSES

ANYTHING WORTH PURSUING?

NO

SEARCH FOR NEW OPTIONS

YES

REVIEW DISCLOSURES, INSPECTIONS & REPORTS. CONDUCT RESEARCH, WEIGH PROS & CONS AND ESTIMATE COST AS NECESSARY NO READY TO MAKE AN OFFER?

NO

NO COUNTER?

YES

YES

COUNTER COUNTER?

ACCEPTED?

ACCEPT? YES

NO EVALUATE COMPETITIVE SITUATION, PREPARE AND PRESENT OFFER

NO

YES

SIGN CONTRACT & DEPOSIT EARNEST MONEY

REMOVE CONTINGENCY? NO NO

COORDINATE INSPECTIONS

INSPECTION CONTINGENCY?

YES

YES

RENEGOTIATE?

YES

NEGOTIATION SUCCESSFUL?

YES

NO COORDINATE APPRAISAL

NO

NO

APPRAISED AT VALUE?

RENEGOTIATE?

YES

APPRAISAL CONTINGENCY?

YES

YES

CONTINGENCIES?

NO YES

NEGOTIATION SUCCESSFUL?

NO

YES

NO CONFIRM FINANCING NO

NO

RENEGOTIATE?

FINANCING SETTLED?

YES

FINANCING CONTINGENCY?

YES

YES

NEGOTIATION SUCCESSFUL?

YES

NO

ALL ESCROW CONDITIONS SATISFIED?

NO

YES FINAL WALKTHROUGH

CANCEL CONTRACT

CONGRATULATIONS! MOVE INTO YOUR NEW HOME

COORDINATE MOVE

NO

DOES WORK NEED TO BE DONE? YES COORDINATE WORK

ENTER ESCROW

NO

FINAL SIGNING, FUNDING, CLOSE ESCROW

THE BUYER PROCESS

FREQUE N T LY ASK ED QU EST IONS WHAT’S THE BEST WAY TO SEARCH FOR HOMES ONLINE? The Shriner Group will create a personalized property search tailored to your needs, including both new construction and resale options. As members of the local Multiple Listing Service (MLS), we have access to the most current and comprehensive listing data available.

WHAT FINANCING SOLUTIONS ARE AVAILABLE TO ME? The first step is deciding whether you’ll purchase with cash or obtain a mortgage. If financing is needed, your sales professional can connect you with a trusted lender to review the loan options that fit your needs.

HOW DO I OBTAIN A HOME LOAN? You can finance a home through a bank, credit union, private mortgage company, governmentbacked program, or by combining savings with a loan. Each lender offers different interest rates and fee structures, which directly affect your monthly payment. It’s wise to speak with multiple lenders before making a decision, as your choice will influence your financial picture for years to come. Since a mortgage creates a longterm partnership, selecting a lender you trust is essential.

payments. It’s important to review your options carefully with a qualified mortgage professional.

WHAT’S THE DIFFERENCE BETWEEN PREQUALIFICATION AND PRE-APPROVAL?

Pre-qualification is an initial estimate of how much home you may be able to afford, based on a review of your income, debts, and credit profile. Preapproval, on the other hand, is a more detailed and verified evaluation of your financial information and mortgage application.

IF I ALREADY OWN A HOME, SHOULD I BUY BEFORE I SELL? There are advantages and considerations to both approaches — purchasing before selling or selling before buying. If you have the financial flexibility to secure your next home without making the offer contingent on selling your current property, that can strengthen your position. However, if funds from your existing home are needed, your offer can be structured contingent upon its sale.

The right strategy depends on your financial circumstances, timing, and overall goals.

IS A DOWN PAYMENT REQUIRED?

HOW LONG DOES THE HOME BUYING PROCESS TYPICALLY TAKE? The timeframe for finding the right property can vary significantly depending on market conditions and your specific criteria. Once you’ve secured an accepted offer, the closing process generally takes about 30 days to complete.

In most situations, a down payment is necessary, though the amount depends on the type of loan and your financial profile. Generally, a larger down payment reduces your loan balance and may help secure a more favorable interest rate. Many lenders recommend putting down at least 20% of the purchase price or appraised value to avoid private mortgage insurance (PMI). Some loan programs require 10–20% down, while others — such as FHA loans — allow for significantly lower down

WHAT HAPPENS IF MY OFFER ISN’T ACCEPTED? It’s not uncommon for an initial offer to be declined, so don’t be discouraged. This often opens the door to negotiations, guided by your sales professional.

There may be several rounds of discussion before reaching mutual terms. Throughout the process, it’s important to stay focused on your priorities and budget so you don’t agree to terms beyond your comfort level.

30

WHAT DOES “CASH” MEAN IN A REAL ESTATE TRANSACTION? Cash refers to a non-contingent source of funds, meaning the purchase is not dependent on loan approval or financing.

WHICH INSPECTIONS SHOULD I COMPLETE, AND WHAT HAPPENS IF REPAIRS ARE REQUIRED? The Shriner Group will guide you through the Buyer’s Due Diligence Checklist, which outlines recommended inspections based on the property and your specific purchase. We can also connect you with a trusted home inspector to conduct the appropriate evaluations and help you determine next steps if repairs are identified.

WHAT IS TITLE INSURANCE, AND WHO TYPICALLY PAYS FOR IT? When a home is financed, two title insurance policies are usually issued — one protecting you as the homeowner and another protecting the lender. In Idaho, state-approved contracts outline which party is responsible for each policy. Most commonly, the seller covers the owner’s policy, while the buyer pays for the lender’s policy. Title insurance is important because it safeguards against undiscovered defects in the title, helping protect you from potential financial loss or legal costs tied to hidden issues.

HOW DO WE KNOW THE SELLER WILL DISCLOSE ISSUES WITH THE HOME? ARE THEY REQUIRED TO? Yes. Disclosure is a key part of the transaction process. Sellers are legally obligated to disclose known material facts that could affect the value or desirability of the property. These disclosures are provided for your review during the due diligence period.

WHAT ARE PROPERTY TAXES? Property taxes are assessed based on a percentage of your home’s value. These funds typically support local schools, transportation, roads, and infrastructure. Rates vary by location and property value and can differ significantly from state to state.

WHEN DOES MY EARNEST MONEY BECOME NON-REFUNDABLE? The timing can vary based on your offer strategy, the seller’s terms, and current market conditions.

Your contract may include specific contingencies — such as inspections, financing approval, disclosure review, and title investigation — that protect your earnest money during those periods.

Once those contingencies are removed or expire, the earnest money may become non-refundable.

The Shriner Group will clearly review those deadlines with you before and during the offer process.

HOW MUCH ARE CLOSING COSTS? Closing costs vary depending on the property and the lender you choose. Reviewing estimated costs with a trusted lender during your financing consultation is an essential step.

SHOULD I CONSIDER PURCHASING A HOME WARRANTY? Whether to purchase a home warranty is a personal decision. A warranty can offer limited coverage for certain systems and appliances for a defined period — typically one year. Many buyers, especially first-time homeowners, choose this option for added peace of mind against unexpected repair or replacement costs. It’s important to note that home warranties generally do not cover pre-existing issues.

WHAT SHOULD I EXPECT AT CLOSING? At closing, you’ll review your loan documents and final settlement statement, and receive instructions for submitting your purchase funds. You’ll also meet with a title agent or notary to sign the final paperwork, including the deed recorded for your new home.

WHEN DO I ACTUALLY GET THE KEYS TO MY NEW HOME? The timing can vary based on negotiations and the agreement between both parties. In most cases, possession occurs after the deed has been recorded in the buyer’s name. The exact timing — whether at recording or days later — is established in the offer and should be discussed carefully with your sales professional during negotiations.

THE BUYER PROCESS

GLOSSARY OF TER MS ACCEPTANCE The official confirmation that both buyer and seller have agreed to the terms of an offer, creating a binding contract. At this stage, documents are signed, and backing out of the agreement may result in legal or financial consequences.

APPRAISAL An independent evaluation of a property’s value conducted by a licensed appraiser. The report typically includes comparisons to recently sold properties to determine a fair market estimate.

APPRAISAL CONTINGENCY A contract provision that allows the buyer to cancel or renegotiate if the property appraises for less than the agreed-upon purchase price.

AS-IS A term indicating the seller is not guaranteeing the property’s condition and does not intend to make repairs or improvements prior to closing.

BACKUP OFFER An offer submitted on a property that is already under contract, placing you in secondary position should the primary agreement fall through. Earnest money or other commitments may still be required.

BUYER’S AGENT A licensed real estate professional who represents the buyer’s interests in locating, negotiating, and purchasing a property.

CLOSING The final stage of a real estate transaction, where loan documents are signed, fees are paid, funds are transferred, and the deed is officially recorded to complete the sale.

CLOSING COSTS Expenses incurred to finalize a real estate transaction beyond the purchase price. Both buyers and sellers may pay certain fees, which can include loan charges, inspections, insurance, taxes, and professional commissions.

32

CLOSING DISCLOSURE (CD) A document that outlines the final details of your mortgage, including the interest rate, monthly payment, and total closing costs. It is provided at least three days before closing and should closely reflect the Loan Estimate you received at application.

CLOSING (SETTLEMENT) STATEMENT A comprehensive summary of all financial details involved in the transaction for both buyer and seller.

While previously known as the HUD-1, most transactions now reference the Closing Disclosure as the primary settlement document.

COMPARABLES (COMPS) Recently sold properties similar in size, location, and features that are used to help determine the market value of another home. Appraisers rely on comps to establish fair market value.

COMPARATIVE MARKET ANALYSIS (CMA) An evaluation prepared to estimate a home’s value by comparing it to similar properties that have recently sold or are currently on the market.

CONTINGENCY A provision within a contract that must be satisfied for the agreement to proceed. If the condition is not met, the contract may be renegotiated or terminated.

COVENANTS, CONDITIONS, & RESTRICTIONS (CC&R’S) Guidelines set by a homeowners association or community governing body that regulate property use, architectural standards, and maintenance obligations, often including required dues for shared amenities.

DAYS ON MARKET (DOM) The total number of days a property has been listed and available for sale.

DEBT-TO-INCOME RATIO (DTI) A calculation used by lenders to compare your monthly debt obligations to your gross monthly income, helping determine your ability to qualify for a mortgage.

DOWN PAYMENT The upfront portion of the purchase price paid by the buyer at closing, typically expressed as a percentage of the home’s value. Most lenders require a down payment as part of the financing process.

33

DUE DILIGENCE A defined period within the purchase agreement that allows the buyer to conduct inspections, review disclosures, and evaluate the property before finalizing the transaction.

EARNEST MONEY A deposit submitted with an offer to demonstrate the buyer’s serious intent to purchase the property.

Often referred to as a good faith deposit, this amount is typically applied toward the down payment or closing costs once the transaction is finalized.

FINANCING CONTINGENCY A provision in the purchase contract that allows the buyer to withdraw from the agreement if they are unable to secure a mortgage under the agreed-upon terms within a specified timeframe.

FSBO (FOR SALE BY OWNER) A property listed for sale directly by the owner without representation from a real estate agent, often to reduce commission costs. Because these transactions do not involve professional representation, buyers should proceed carefully and ensure all legal and contractual requirements are properly addressed.

HOMEOWNERS ASSOCIATION (HOA) A governing organization within a condominium or planned community that manages common areas, enforces community rules, and collects dues from property owners.

INSPECTION A professional evaluation of a property’s condition, typically ordered by the buyer. The inspection may review major systems such as plumbing, roofing, electrical, foundation, and HVAC, followed by a written report outlining findings.

INTEREST The cost of borrowing money from a lender, expressed as a percentage of the loan amount and paid over the life of the mortgage.

LENDER A financial institution or entity that provides funds to purchase, build, or renovate a property, with repayment expected over time — typically with interest — according to agreed terms.

LEASE-BACK An agreement allowing the seller to remain in the home after closing for a specified period. Also called a rent-back, this arrangement generally includes agreed-upon rent and a security deposit.

34

LIEN A legal claim against a property that must be satisfied before ownership can be transferred. Liens may be filed by lenders, contractors, or taxing authorities for unpaid debts or obligations.

LIMITED AGENCY A representation arrangement in which one agent or brokerage represents both the buyer and the seller in the same transaction, typically with written consent from both parties.

LISTING The public marketing description of a property offered for sale, along with the formal agreement permitting the home to be advertised and shown to prospective buyers.

LISTING AGENT The real estate professional who represents the seller and is responsible for marketing and facilitating the sale of the property.

LISTING AGREEMENT A legally binding contract between a property owner and a real estate professional authorizing the agent to market and sell the property under specified terms.

MARKET VALUE The estimated worth of a property based on current market conditions, comparable sales, and overall demand in the area.

MULTIPLE LISTING SERVICES (MLS) A comprehensive database used by real estate professionals to access and share accurate, up-to-date information about properties for sale in a given market.

OFFER A formal proposal submitted to purchase a property, outlining the price and specific terms the buyer is willing to accept. If the seller agrees, the offer becomes a binding purchase agreement.

OPEN HOUSE A scheduled event where a property is available for public viewing without a private appointment, allowing potential buyers to tour the home and learn more about it.

35

PRE-APPROVAL A letter issued by a lender confirming the amount you are qualified to borrow based on a verified review of your financial information. This strengthens your offer by demonstrating credibility to the seller and can help move the transaction forward more efficiently.

PRELIMINARY TITLE REPORT A report prepared by a title company that reviews public records to confirm clear ownership and identify any liens or claims against the property. It is typically ordered during escrow and is required to issue title insurance.

PRE-QUALIFICATION An initial estimate of purchasing power based on a basic review of your income, debts, and financial profile. This helps determine an appropriate price range before beginning your home search.

PRINCIPAL The original amount borrowed in a mortgage loan, excluding interest. Reducing the principal balance more quickly can decrease the total interest paid over the life of the loan.

PRIVATE MORTGAGE INSURANCE (PMI) Insurance required by many lenders when a buyer makes a down payment of less than 20%. It protects the lender in the event of default and is generally removed once sufficient equity is reached through loan payments or property appreciation.

PROOF OF FUNDS Official documentation verifying that you have sufficient liquid assets available to cover your down payment and closing costs.

PROPERTY TAX Taxes assessed by local or state governments based on the value of your property. These payments are often included in your monthly mortgage escrow account.

REALTOR® A licensed real estate professional who is a member of the National Association of REALTORS® and agrees to adhere to its established Code of Ethics and professional standards.

SELLER CONCESSIONS Incentives offered by a seller to help facilitate a sale, such as contributing toward closing costs or other transaction expenses.

36

SELLER PROPERTY DISCLOSURE A written statement provided by the seller outlining known conditions or issues that may affect the property’s value or desirability, including structural concerns, repairs, or neighborhood-related matters.

SETTLEMENT Another term for closing, settlement is the final meeting where documents are signed, funds are transferred, and all required paperwork is completed to officially transfer ownership of the property.

SUBJECT TO INSPECTION A condition indicating the seller requires an accepted offer before allowing the buyer to inspect the property. While this can limit competition, buyers should carefully consider the risks of submitting an offer prior to viewing the home.

TITLE The legal record of property ownership, officially recorded with the county when the deed is transferred to a new owner.

TITLE INSURANCE Owners: Protects the buyer against undiscovered claims, liens, or ownership disputes tied to the property.

In many transactions, the seller pays for the owner’s policy as outlined in the purchase agreement.

Lenders: Protects the mortgage lender against unknown liens or title defects that could affect their secured interest. This policy is typically paid for by the buyer.

TITLE SEARCH A review of public records conducted to confirm the seller’s legal ownership of the property and identify any liens, claims, or title defects that could impact the transaction.

UNDERWRITING The lender’s evaluation of financial risk when approving a mortgage, including a review of the borrower’s credit, income, assets, and the property itself.

UPFRONT COSTS Expenses paid by the buyer prior to closing, which may include appraisal fees, loan origination charges, insurance premiums, prepaid items, and certain taxes or government fees.

ZONING Local regulations that determine how land and property may be used within specific areas. Zoning laws can affect plans such as remodeling, adding rental units, or operating a home-based business.

37

THE MOVE AHEAD. What if the thought of moving didn’t come with stress or hesitation? What if you could expect a level of service that exceeded expectations — allowing you to focus fully on what’s ahead?

What if every detail was handled with intention, and trust and integrity led the way? For those who expect more, there is The Shriner Group & First Team Real Estate. We are experienced professionals delivering thoughtful guidance with exceptional care and precision. We combine technology and innovation with a personalized approach built around the way you live. We offer reach, resources, and expertise designed to give you an advantage at every step.

And the difference is unmistakable.

38

BRINGING LIFESTYLE AND COMMUNITY TOGETHER.

© First Team® Real Estate. All rights reserved. This is not intended to solicit a listed property. If your property is currently listed for sale with a broker, please disregard.