Buyer Book

OUR MISSION

To create wealth through real estate in the Great Northwest

OUR VISION

To set the example for knowledge, skills, and mastery so our clients and colleagues define us as extraordinary

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A NOTE FROM JORDAN Thank you for the opportunity to represent you during your home purchase. Matin Real Estate is a local privately owned company with deep roots within the community and a passion to create extraordinary service. Our vision is to set an example for knowledge, skills, and mastery so that our clients and colleagues define us as extraordinary.

Our mission is to create wealth, through real estate, in the great northwest. We have helped thousands of families in their journey to build wealth, as real estate is the number one way Americans have invested for their retirement. It is also the primary way millionaires are made in our country. We believe that this creates a strong foundation within our community and in our clients’ lives.

CONTENTS

Who We Are

03

Understanding Current Market

04

Submitting Competitive Offers

05

Your Wants and Needs

07

The Home Buying Process

09

Cost in Purchasing a Home

11

By hiring us to represent you in the home buying process, you will gain access to our expert market knowledge, tools and systems that have a proven track record of success.

1. Down Payment

As one of the top listing brokerages in the state of Oregon we have early access to new inventory, and relationships with thousands of local agents to identify upcoming listing before they go on the market, giving you the best opportunity to find your perfect property.

3. Earnest Money

Matin Real Estate has created a proven model that creates a seamless process for our clientele. In addition, we maintain crystal clear communication through regular weekly check-ins. We are excited to have you experience the same through your sale and we look forward to having you as part of our Matin Referral Network, our community of past clients that we consistently stay in touch with and love on with fun events and learning opportunities.

Thank you for your trust. I am excited for you and your new home.

Jordan L. Matin

Oregon Principal Broker, LIC# 200707018 Washington Managing Broker, LIC# 25401 Matin Real Estate, OR LIC# 201224007, WA LIC# 20605

2. Inspection

4. Appraisal 5. Closing Costs Obtaining a Loan

17

Credit Commandments

18

Rent Back

19

Home Warranty

20

How to Use Our Website

21

Buyer Disclosures

23

Our Promise

24

Giving Back-Project Lemonade

25

We are Hiring

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WHAT SETS US APART WE ARE LOCAL We reinvest in the Great Northwest and always put local residents first.

TRACK RECORD Matin Real Estate has been in business for over a decade and consistently sells hundreds of homes every single year.

With over 1000 reviews on Google, Zillow and Facebook, our record speaks for itself.

MARKET Understanding the current market conditions is a critical part of buying a new home, from combating multiple offer scenarios or building the most competitive offer. We will guide you though navigating the complex market condition. Matin Real Estate, not only has a deep understanding of the national market but also the local and micro-neighborhood markets.

We want to make sure you feel confident in your investment.

WE WORK AS A TEAM You aren’t just hiring a single broker. You are hiring a team of professionals made up of experts in their specific jobs, so you get the best of the best across the board. You are in expert hands with us every step of the way.

TRANSPARENCY We provide you with thorough weekly progress reports with views and feedback for making informed decisions based on real market statistics and real-time online activity. We are in regular communication by phone, text and email with always knowing the next step and what actions we’re taking.

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WHAT MARKET ARE WE IN? INDICATED BY HOW LONG PROPERTIES SIT ON THE MARKET

12+ MONTHS

12-6 MONTHS

7-5 MONTHS

5-3 MONTHS

2-0 MONTHS

HYPER BUYER’S MARKET

BUYER’S MARKET

NEUTRAL

SELLER’S MARKET

HYPER SELLER’S MARKET

HOW ELSE CAN YOU IDENTIFY THE CURRENT MARKET? BUYERS MARKET

SELLERS MARKET

• Homes sitting on the market over 6 months

• Lower inventory

• No seller concessions

• Seller concessions

• Multiple offers/ over asking

• Can’t ask for repairs

• Longer times to decide on right home

• Waive Contingencies

• Pending in a weekend

SUBMITTING COMPETITIVE OFFERS Once we’ve found the home you wish to purchase, you’ll need to determine what offer you are willing to make on the home. After all, you are the one making the payments!

HOW TO WIN IN THE CURRENT MARKET OFFER TERMS

POSITION OF STRENGTH

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Sales Price

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Pre-approval in hand

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Comparative market analysis (comps)

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Type of financing

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Earnest money

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Negotiating with listing agent

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Financing terms

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Comparable sales to support offer

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Inspection period

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Seller’s purchase price per tax records

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Closing date

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Property tax assessment review

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Personal property

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Walk away leverage

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Other applicable addendum like Common Interest Community Disclosures, Short Sale Contingencies, etc

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Seller contribution to YOUR closing costs (if requested)

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SELLER CONCESSIONS & OFFER DETAILS

MULTIPLE OFFER STRATEGY

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Seller contribution to buyer’s closing costs

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Zero repair allowance

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Increased earnest money

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Home warranty

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Escalation language

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Inspection repair costs

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Appraisal gap guarantee

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Closing date

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Closing date

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Discount/buy-down points

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Ancillary closing costs

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Title policy

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60 days no payments

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Contract acceptance

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Timeline

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Property inspection timeline

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Negotiate repairs

A note about multiple offers It is important to remember that the more competition there is for the home, the higher the offer will have to be, sometimes even exceeding the asking price. Remember, be realistic, but it all comes down to market value and solid comparable sales. Make offers you want the other party to sign!

NEEDS ANALYSIS When considering all the elements that will make up the right home for you, break it down into three categories:

MUST HAVE LIKE TO HAVE DOESN’T MATTER

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THE HOME ROOMS/LAYOUT •

THE NEIGHBORHOOD

CONVENIENCE FACTOR

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Appearance/condition of nearby homes/businesses

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Supermarket

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Schools

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Work

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Shopping

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Child care

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Hospitals

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Doctor/dentist

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Recreational parks

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Restuarants/entertainment

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Church/synagogue

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Airport

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Highways

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Public transportation

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Square footage

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Number of bedrooms •

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Number of baths

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Basement

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Traffic

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Office/Den

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Single Level

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Noise Level

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Master on the main

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Tri-level

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Safety/Security

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Age specific

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Child friendly

Practicality of floorplan Open floorplan

AESTHETICS •

Style of Home

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Natural Light

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Pet restrictions

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Move-in Ready

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Character/charm

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Parking

Curb Appeal

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Zoning regulations Neighborhood restrictions/covenents

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Fire protection

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Police presence

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Specific schools

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Cosmetic Updates

•

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Lite updating needed •

Entertaining Space

OTHER FEATURES •

Closet/storage space •

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Fireplace

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SMART wired

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Lawn/yard space

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HOA

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Fence

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Cul-de-Sac

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Patio or deck

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Dead-end street

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Garage

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In-law suite

Energy efficient

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HOW TO BUY A HOME The following is a standard timeline used by hundreds of thousands of Americans every year to buy real estate. Although there are many ways to go about purchasing real estate, the vast majority of sales follow this timeline. This is what we have found to be the safest and most pragmatic path to homeownership.

SELECT AND VIEW HOMES The average buyer views 5-7 houses

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CONSULTATION

Establish what you need

2

PROVIDE

Approval letter

3

SEARCH

for properties

Credit report Loan approval Home appraisal

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WRITE OFFER Contigencies to protect you

6

Structure based on research

STOP

Credit catastrophe

MORTAGE UNDERWRITING

Estimate 35-45+ days to close typically

EN J NE OY W YO HO UR ME

OUR TRANSACTION COORDINATOR GETS STARTED

7

9

OFFER ACCEPTED

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EARNEST MONEY Deposited and due diligence period begins

INSPECT AND POSSIBLY NEGOTIATE ANY REPAIRS/CREDITS 11 FINAL WALKTROUGH

TITLE SEARCH 10 AND OBTAIN INSURANCE

Due diligence end

e

yd

Ke

Signing at the title Approx. 2 days prior to close

d

re

e liv

THE COST OF PURCHASING A HOME

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DOWN PAYMENT

INSPECTIONS

4

2

APPRAISAL

How much can you afford?

KEY FACTORS TO CONSIDER THE DOWN PAYMENT

THE INTEREST RATE

YOUR DEBT-TO-INCOME RATIO

THE CLOSING COST ASSOCIATED WITH THE TRANSACTION

EARNEST MONEY

5

CLOSING COSTS

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1

DOWN PAYMENT

DOWN PAYMENT REQUIREMENTS BY LOAN TYPE

CONVENTIONAL You can put as little as 5% down or up to as much as you want. Anytime you put less than 20% down, you will need mortgage insurance, until the loan reaches 80/20 loan to value

FHA The lowest traditional down payment program; there is additional mortgage insurance for the life of the loan.

HOME PARTNERS OF AMERICA A rent to own program for qualified prospective residents, who choose from properties in communities that Home Partners serves.

VA A special program for military buyers that allows them to put almost nothing down toward the purchase.

USDA A special program that doesn’t require a downpayment for buyers looking in rural areas.

This option does have credit and income restrictions and is limited to particular areas.

FHA 203K A special product that allows you to wrap into your mortgage the costs of repairs or improvements to the home you buy.

CASH You will have to have this wired to the title company prior to closing.

5%+ 3-5% $1,000+ 0% 0% 3-5% 100%

THE COST OF PURCHASING A HOME

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EARNEST MONEY The amount of earnest money deposited is typically 1% of the purchase price. Once deposited with escrow those funds will be applied to the down payment at closing.

PROTECTING OUR CLIENTS

TYPICALLY

1% OF PURCHASE PRICE

We are committed to protecting our clients. If a financing or inspection contingency were to fail, the buyer will want the earnest money returned. Earnest money may not be returned if a buyer does not satisfy certain part of the contract. The most common violation of a contract is not satifying the timelines. Matin Real Estate focuses on timelines in order to leave no room for dispute regarding returning the earnest money, should the need arise.

We aim to not have earnest money go above $10,000 because then it’s above small claims court and should a dispute arise it would be more costly requiring the buyer to hire a lawyer and litigate a lawsuit against the seller. Some sellers require more earnest money and we address each offer on a case by case basis.

When there are disputes in a real estate transaction it is commonly over earnest money. It is our job to keep our buyers protected throughout the transaction.

*Programs vary and are subject to change.

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3 INSPECTIONS When you are purchasing a property, we highly recommend that you have a professional home inspector conduct a thorough inspection. Our recommended inspectors, hired by you, are experienced professionals who are exceedingly thorough and detailed to minimize surprises for you. You are not required to use one of our recommended inspectors. The inspection is not meant to be used to low ball the seller post-price negotiations, as all exisiting homes have minor imperfections.

The seller may be willing to negotiate completion of repairs, or you may decide that the home will take too much work and money and rescind the offer during the inspection period.

COMMON PRICES** FOR THE HOME INSPECTOR 1500 sq ft and less

$350

1500-2000

$450

2000-2500

$500

2500-3000

$550

3000+

Call for pricing

Radon Testing

$150

Sewer

$150

Septic*

$350

• General Structure

Well

$250

Oil Tank

$100

• Radon tests are recommended — More than 40% of the homes tested have gas levels exceeding the safe threshold set by the EPA

*Septic tank will have to be pumped to have it inspected. **Pricing is an estimate. Prices may vary depending on the size of home, vender you select and/or condition of home

The standard inspection will include the following: • Appliances • Plumbing • Electrical • Heating and Air Conditioning (depending upon the season) • Roof and Attic (if accessible) • Foundation

You may want additional inspections, such as a well, sewage, or environmental inspection, depending on the type of property.

THE COST OF PURCHASING A HOME

4 APPRAISAL The appraised value is the property value the bank will use for the amount it is willing to finance. It will not necessarily be the fair market value for the property. An appraiser is is selected by the bank/lender and paid by you as a third party to provide a professional price evaluation to ensure the bank is not overlending on a loan. The appraisal laws are designed to avoid undue influence on the appraiser.

If the appraisal comes back low the buyer and seller will need to agree to new terms that bring that selling price in line with the value of the property.

Appraisals cost between

$800-$2000 This is an upfront cost, but it typically is factored into the closing cost percentage

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5 CLOSING COSTS You will be required to pay fees for loan processing and other closing costs such as title, escrow, and recording costs. These fees must be paid in full at the closing, unless you are able to include them in your financing. Typically, total closing costs will range between 3% - 5% of your mortgage amount.

TYPES OF CLOSING COSTS* PREPAID INSURANCE ($4000-$6000) PREPAID TAXES (UP TO 13 MONTHS) PREPAID HOA FEES (WHEN APPLICABLE) MORTGAGE ORIGINATION FEE (1% - 3%) APPRAISAL FEE ($800-$2000) TITLE FEES (0.65%) CLOSING FEES *These are all rough estimates. Your real estate broker mortgage lender, and title company will provide you your final closing costs.

EXAMPLE No Concessions

$500,000 + $10,000 = $510,000 YOUR OFFER

BUYER CLOSING COSTS

NET COST

Seller Concessions

$500,000 - $10,000 = $490,000 YOUR OFFER

SELLER PAID CLOSING COSTS

NET COST

OBTAINING A LOAN FILLING OUT THE LOAN APPLICATION • Submitting documents

• Last 2 months of bank statements

• Last 2 years of taxes

• Last 2 months of check stubs

• Last 2 years of W-2

• Picture of your ID

• Soft credit pull

• Child support documentation (if applicable)

This is to get pre-qualified. Once you go into underwriting the lender may require additional information depending on your personal information.

IF THEY ARE ON SOCIAL SECURITY OR DISABILITY: • Social Security Award Letter

W2 BORROWERS:

SELF EMPLOYED BORROWERS:

• Last 2 years Tax Returns

• Last 2 years Business and Personal Tax Returns

• Last 2 years W2’s, 1099’s, K1’s, etc.

• Last 2 years W2’s, 1099’s, K1’s, etc.

• Last 30 Day Most Recent Paystubs

• Year to date profit and loss

• Last 2 Months Most Recent Bank Statements

• Last 30 Day Most Recent Paystubs

• Most recent retirement statement (401K, IRA, etc.)

• Last 2 Months Most Recent Personal Bank Statements

• Driver’s License front

• Last 3 Months Most Recent Business Bank Statements

• Verification of employment

• Most recent retirement statement (401K, IRA, etc.)

• Gift funds letter (if applicable)

• Driver’s License front

* The underwriting process is to verify all your financial documents. Your lender likely will need further details and supporting documents to provide final loan approval. Pre Qualification letters and Pre Approval letters do not mean you have final loan approval.

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CREDIT COMMANDMENTS 1

Thou shall not change jobs, become selfemployed or quit your job.

2

Thou shall not buy a car, truck, or van (RVs & boats too!) or you will be living in it!

3

Thou shall not use credit cards excessively or let current accounts fall behind. Thou shall not spend money you have set aside for closing.

shall not originate any inquiries 6 Thou into your credit.

7

Thou shall not make large deposits without checking with your loan officer.

8 Thou shall not change bank accounts.

shall not omit debts or liabilities 4 Thou from your loan application.

9 Thou shall not co-sign a loan for anyone.

5 Thou shall not buy furniture on credit.

shalt not close any accounts or 10 Thou credit cards.

RENT BACK Rent backs are a great way to make your offer more competitive! A rent back allows a seller to live in the home after closing, which allows the seller time to either find the seller’s next home or to move into the next home. This can help you stand out against other buyers. We can structure this in a couple different ways:

1. Free rent back • This is no cost to the seller

AGREEMENT TO OCCUPY Rent backs often include an agreement to occupy, which is is a rental agreement for the period of time after the sale.

2. Seller to pay PITI: Principle, Interest, Taxes, Insurance • Seller pays you to stay in the home

Specifically, you may hold back a deposit from the seller. When the seller leaves, as long as there isn’t any damage, it’s the buyer’s duty to then return that deposit.

60-DAY RENT BACK 60 days is the maximum time allowed by a lender

OFFER

SELLER’S NEW PROPERTY

CLOSING 35 DAYS

30 DAYS

OFFER

MONTH ONE

30 DAYS

CLOSING 35 DAYS

*These dates are rough estimates. Each sale has unique dates and closing/ rent back timelines. Matin Real Estate does not guarantee any specific closing dates, rent backs or costs associated with rent backs. Please consult with your real estate broker about the specific dates of your transaction.

95 DAYS TO FIND NEW PROPERTY AND CLOSE

MONTH TWO

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WHAT IS A HOME WARRANTY? A home warranty is a yearly service contract which covers the repair and replacement of important household appliances and home system components that inevitably break down over time.

HOME WARRANTY We also try to negotiate a home warranty for the buyer, through Home Warranty of America.

With a home warranty you’re covered for life’s big emergencies—fire, theft, severe weather damage— by your homeowners insurance policy. But can you relax when it comes to everyday disasters? Your appliances and plumbing, electrical and heating/ cooling systems have limited lifespans due to normal wear and tear. A Home Warranty of America plan helps reduce your out-of-pocket repair and replacement costs for essential home systems—and gives you peace of mind.

WHAT DO HOME WARRANTIES COVER? HOME WARRANTY PLANS allow you to safeguard your budget from expensive home repairs.

Some common household systems and appliances that are covered by a home warranty: HOME APPLIANCES

SYSTEMS

• • • •

• • • •

Refrigerator Washer/Dryer Dishwasher And more!

WARRANTY BENEFITS www.hwahomewarranty.com Matin Real Estate has a business relationship with Home Warranty of America. Clients are not obligated to purchase a home warranty nor choose HWA.

AC and Heating Systems Plumbing Systems Garage Door Systems And more!

HOW TO USE OUR WEBSITES MatinRealEstate.com | PortlandRealEstate.com | PortlandLuxuryRealEstate.com

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THESE SITES HAVE EVERY PROPERTY PROPERTY PUBLICLY LISTED ON THE MARKET. THERE ARE NO ADDITIONAL PROPERTIES ON OTHER WEBSITES.

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LOGIN/REGISTER

2

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ADVANCED SEARCH Set up customized advanced searches with extensive detailed specifications you can choose from to match your wants/needs

Create an account.

Set your email preferences to receive results only once a day or the moment something comes on the market

3

SAVE/SHARE YOUR FAVORITES Every listing has a button to heart the homes you like. You can even do it while scrolling through the line list of search results.

You can also easily share your favorites through email or social media.

4

SCHEDULE A TOUR Every property page has two easy to find buttons to connect with Matin Real Estate so you can see the properties you are interested in.

DISCLOSURES For Real Estate Agency disclosures by state, visit

www.matinrealestate.com/disclosures

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OUR PROMISE It’s our goal to create an experience so good you can’t imagine it being better. Everything we do and the technology we use are designed to deliver and create a five star experience for our clients.

Everyone on our team is focused on understanding your wants and needs and delivering results around them.

We make every effort to be proactive and take steps to prevent surprises along the way.

When challenges do occur, (it is real estate after all!) you can trust that our team’s professionalism and expertise will ensure a smooth, five-star experience for you.

CULTURE - GIVING BACK

PROJECT LEMONADE Proud sponsor of our local foster youth Project Lemonade addresses the needs of foster youth in Oregon and Washington with three programs: A store where foster youth shop for free clothes, a paid internship for foster teens, and a WISH-granting program that helps foster youth identify their gifts.

We give to Project Lemonade to help a child right here in our community. We also collect sock donations at all of our quarterly events. Helping local foster kids is a huge part of our mission.

Matin Real Estate helps to improve the lives of foster youth through Project Lemonade, a Portland-based IRC 501(c)(3) nonprofit entity with a mission to inspire self-esteem in foster youth. Matin Real Estate partners with

24 2,000

counties served in Oregon and Washington

Foster youth served in 2021

15,000

Foster youth served since 2012

Project Lemonade through volunteerism, in-kind donation drives and financial contributions to further the organization’s impact.

We are so thankful for everything Matin Real Estate Group has done for our Foster Youth. We are thrilled to be in partnership with them.

- Lindsay McDonnell Executive Director of Project Lemonade

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WE ARE HIRING We are looking for licensed real estate brokers who we can train and develop to serve our clients with the five star experience they know and trust.

WHO WE ARE LOOKING FOR SMART

HUMBLE

HUNGRY

W H AT W E O F F E R SYST E MS

STRUCTURE

SUPPORT

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Full time 50+ hours/week commitment

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Early risers

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Sales and results focused

or colleagues who may be interested in going into real estate. We

•

Driven, Passionate, Focused

always appreciate your referrals whether they are buyers, sellers or

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Social and able to connect with others

real estate brokers looking to advance their career.

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Growth focused

Please feel free to reach out to us through our career website MatinCareers.com and pass our information along to friends, family

MATINCAREERS.COM

STATE LICENSED BROKERS IN OREGON AND WASHINGTON Matin Real Estate, OR LIC# 201224007, WA LIC# 20605