Fischer_2024 Buyer Guide

B U Y YO U R H O M E B E T T E R W I T H

Fischer Real Estate

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Buy Your Home Better with Fischer Real Estate

Thank You Thank you for this opportunity to work with you on the purchase of your next home. I look forward to sharing the Fischer Real Estate purchase process with you. The booklet you're reviewing is a resource tool for you to use. It not only contains information about me and my experience, it also contains an explanation of my sales process as well as the resources you'll need to make the best purchase decision possible.

I believe in being a resource not just during your search but also as you move ahead as a homeowner. After you purchase your home, I will stay connected to offer advice or referrals to trusted service professionals and to ensure you know how to care for your largest investment. I'm available to answer questions or brainstorm renovation options, I find that many of my clients appreciate this after-sale service the most. As you review this booklet, please make a note of any questions you have.

Chris Fischer Licensed in DC & VA | M. 703.930.6349 cfischer@mcenearney.com www.FischerRealEstate.com

Buy Your Home Better with Fischer Real Estate

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Fischer Real Estate Pathway to Buying a Home Initial Meeting

MLS Search & Feedback

STEP 1 Lender Pre-Approval

View Properties

Under Contract

Satisfy Contingencies: Inspections, Association Review, Financing; Title Search; Insurance

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Analysis & Negotiation

Select Property

STEP 2 Loan Processing

STEP 3 Clear to Close

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Walk-through, Settlement & Keys

Off-Market Search

3 Steps to Getting a Mortgage STEP 1 (Before you search for property) Lender Pre-Approval

STEP 2 (After you are under contract) Loan Processing

STEP 3 Clear to Close

APPLY You apply for the mortgage

ORDER Your lender orders the Appraisal

CLEAR TO CLOSE Your lender clears your file for closing

GATHER You gather your documents to complete your application

LOCK You and your Lender lock your interest rate

ISSUE The lender will issue pre-approval letter

PROCESS The lender prepares the paperwork to submit to Underwriting UNDERWRITING Underwriting conditionally approves your loan SATISFY CONDITIONS You and your lender work to satisify the Underwriter's conditions Buy Your Home Better with Fischer Real Estate

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Funnel Process Ens Funnel Process AnyAny Hom H

Listings You Identify Listings You Identify

BrightBright MLS Auto-Search MLS Auto-Search FSBOs FSBOs TruliaTrulia & Zillow Listings & Zillow Listings New New Construction Construction

Apply Your Your Criteria Apply Criteria

Simple Process Simple Proc Makes Dec Makes D

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Buy Your Home Better with Fischer Real Estate

YouYou Won't MissMiss ssures Ensures Won't mes for for SaleSale Homes “Off Market” “Off Market” My Networks My Networks Reticular Activator Reticular Activator Targeted Neighborhood Targeted Neighborhood

CMAs on Rolling Top 3 Means CMAs on Rolling Top 3 Means You You Won't Pay Pay Too Much Won't Too Much

s of Elimination cess of Elimination cisions Easy Decisions Easy

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Making an Offer Ideally, you will structure your offer based on how competitive the market is with some "wins" for the Seller and some "wins" for you. Once you've selected a property, we will develop a strategy together using some or all of these important contract elements.

Offer Price The price the Buyer is willing to pay for the Property Seller Credit An amount paid by Seller to Buyer at settlement. It can be intended to cover Buyers' closing costs or property repairs Earnest Money Deposit Typically between 2 and 5% of the offer price; demonstrates strength of the Buyer Settlement Agent Buyer selects who will conduct settlement because Buyer pays for title insurance Settlement Date & Post Settlement Occupancy Often requested by Sellers; Buyers with timing flexibility can often focus the negotiation on price and condition Home Inspection Contingency Inspection allow Buyers to learn about the property; options for the contingency include right to negotiate repairs or right to void the contract 8

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Termite Inspection This inspection is typically paid ($40-$75) by the Buyer. If wood destroying insects are found, the Seller must pay to treat and make any structural repairs required Radon Inspection Buyer may test the property to ensure that radon levels measure less than the EPA's acceptable limit. The Seller can choose not to remediate if radon is found Financing & Appraisal Contingencies Buyers may need time to get their loan approved prior to buying the property.

Association Review After receiving the Association's "Resale" document package, Buyers have three calendar days in Virginia or three business days in DC to review the rules, regulations and budget. Buyer can void the contract up until that deadline for any reason Home Warranty This optional service can be purchased ($450-$1,200) by Buyer or Seller to cover appliance and component repairs or replacement for up to one year after the date of settlement.

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Sample Requirements for Your Loan Approval Your lender is likely to ask you to provide the following items for both borrower and co-borrower as quickly as possible to facilitate the processing of your loan request.

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One month of all paycheck stubs

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Most recently completed 2 years of W-2's or 1099's

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Most recently completed 2 years personal tax returns — signed and dated with all schedules

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Two months of checking account statements — all pages

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Two months of savings account statements — all pages

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Two months of statements for stocks, bonds or other investments

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Leases for any rental properties

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Gift Letter and proof of donor's ability to give gift

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Receipt of Gift funds showing proof of deposit information

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Name, address, and account numbers of all current credit accounts, etc.

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Copy of Driver's License(s)

Please do not hesitate to call us if you have questions. Your lender may have additional requests of you, but this should serve as a good list to get you started.

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Buy Your Home Better with Fischer Real Estate

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Sample Home Inspection Summary Home Inspections are usually conducted shortly after contract ratification. The report will show a list of deficiencies that make your prospective home less than perfect. Typically an inspection report has three types of deficiencies: 1) defects in the critical systems such as electrical, plumbing, heating, air conditioning and appliances, 2) deficiencies that are not part of those critical systems and 3) items that are best described as "Renovation Items."

Page 12 / 48 606 W Windsor Avenue Alexandria, VA 22302 Job #UWA0334N - 66544

SUMMARY OF ISSUES

a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 89abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcde fghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789

SAFETY ISSUE

Page

Exterior - Stairs/Steps 01 The handrail is missing. This is a safety concern. Location: Left Side. Install a handrail.

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Interior - Stairs/Steps 02 The handrail is missing. This is a safety concern. Location: Basement. Install a handrail.

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03 The handrail is missing balusters. This is a safety concern. Location: Basement. Install or replace the balusters as needed.

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Electrical - Branch Circuits 04 There are loose or hanging wires. This is a safety concern. Location: Attic. Hire an electrician to make required repairs.

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Electrical - Receptacles 05 There is an ungrounded 3-prong receptacle, which gives the false appearance that there is proper electrical protection. This is a safety concern. Location: Kitchen and the right rear bedroom wall plugs. Hire an electrician for an evaluation and to make repairs as needed.

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Electrical - Switches 06 The switch is missing a cover plate. Cover plates are required to maintain the junction box's fire rating. This is a shock and safety concern. Location: Attic. Install a cover plate.

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Electrical - Smoke Detectors 07 The smoke detectors are 10+ years old and beyond their life expectancy. This is a safety hazard. Location: Multiple Locations. Replace the smoke detectors.

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Plumbing - Water Heater 08 The water heater's Temperature Pressure Relief Valve (TPRV) discharge pipe is too short. The pipe must be no more than 6" from the floor to prevent a scalding injury if the valve opens. This is a safety concern. Location: Basement.

Hire a plumber to replace the TPRV pipe.

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Environmental - Rodents 09 There is evidence of rodent activity within the home. This is a health and safety concern. Location: Basement. Hire a specialist for an evaluation and to make required repairs.

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Buy Your Home Better with Fischer Real Estate REPAIR Exterior - Chimney 10 The chimney crown is missing. This permits water penetration into the chimney. Location: Left Side. Replace the crown.

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02 The handrail is missing. This is a safety concern. Location: Basement. Install a handrail.

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03 The handrail is missing balusters. This is a safety concern. Location: Basement. Install or replace the balusters as needed.

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Electrical - Branch Circuits 04 There are loose or hanging wires. This is a safety concern. Location: Attic. Hire an electrician to make required repairs.

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Electrical - Receptacles 05 There is an ungrounded 3-prong receptacle, which gives the false appearance that there is proper electrical protection. This is a safety concern. Location: Kitchen and the right rear bedroom wall plugs. Hire an electrician for an evaluation and to make repairs as needed.

Electrical - Switches

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606 WThis Windsor 06 The switch is missing a cover plate. Cover plates are required to maintain the junction box's fire rating. is a Avenue 32 Alexandria, VA 22302 shock and safety concern. Location: Attic. Install a cover plate.

Job #UWA0334N 66544 Electrical - Smoke Detectors 07 The smoke detectors are 10+ years old and beyond their life expectancy. This is a safety hazard. Location: Multiple SUMMARY OF Locations. Replace theISSUES smoke detectors. a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 89abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcde fghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789

Plumbing - Water Heater Plumbing - Supply Pipes 08 The water heater's Temperature Pressure Relief Valve (TPRV) discharge pipe is too short. The pipe must be no more 16 The side of the hotto water heater supply injury pipes are half inchopens. in diameter. pipeconcern. should beLocation: 3/4 of anBasement. inch in thanhot 6" from the floor prevent a scalding if the valve This isThis a safety diameter.

Location: Above heater. It’s recommended consulting a licensed plumber for options and repairs that Hire a plumber to replace the water TPRV pipe. may be needed.

Environmental - Rodents Plumbing - Drain, Waste, Vents 09 There is evidence of rodent activity within the home. This is a health and safety concern. Location: Basement. Hire 17 a The drain pipe has an "s trap" mayrepairs. leave the trap empty and permit sewer gases to enter into the specialist for an evaluation andinstalled. to make This required living area. Location: Kitchen. Hire a plumber to make the needed repairs.

18 The drain pipe is a corrugated or accordion style. The folds may capture debris and clog. Location: Hall Bathroom.

REPAIR Hire a plumber to replace the pipe.

Exterior - Chimney Plumbing - Sink 10 The chimney crown is missing. This permits water penetration into the chimney. Location: Left Side. Replace the 19 crown.

The sink faucet is loose. This affects proper function and may permit water damage. Location: Kitchen and hall bathroom. Repair or replace the faucet.

Water Control - Grading Appliances - Refrigerator/Freezer 11 The grading is sloping towards the foundation. This may cause water penetration. Location: Multiple Locations.

20 Regrade The refrigerator ice-maker does notfrom operate properly. This affectsshould proper Location: Repair or to divert surface water away the foundation.

The grade befunction. sloped at 1" per foot Kitchen. for up to 6' from the replace the ice-maker. dwelling.

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45 38 39 19 40

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Environmental WDI/WDO Water Control -- Window Well 21 is evidence of possible wood-destroying insectatactivity and damage.

We do is not determine the extent of the 45 12 There A window well is needed to allow for proper grading a foundation opening that close to the ground.

A window 24 activity or any damage during a home inspection.

Location: Above tub on floor joist. a pest specialist for Location: Rightlaundry Side. Install a window wellHire as required. well prevents water penetration into the structure. further evaluation and required action.

Interior - Doors Environmental - Other 13 The door does not fit properly within frame. It is binding and/or has large gaps. This affects its function. Location: 27 22 There was bedroom an odor atcloset the main This was most noticeable on theAdjust first and second floors.

Right rear doorstaircase. and the front left bedroom closet door. or replace the door. Location: Pet odor 45 at main staircase. It’s recommended determining the source of the odor and take correct of action at that time.

Page 13 / 48 Interior - Windows 606 W Windsor Avenue 14 The window is painted/stuck shut. This affects proper function. Location: Living Room. Remove theAlexandria, paint or repair 28 VA 22302 MAINTENANCE the window as needed for proper operation.

Job #UWA0334N - 66544 Exterior - Chimney Electrical - Panel 23 The chimney is >50 years old. Location: Left Side. Monitor the chimney; hire a contractor for further evaluation as 18 15 SUMMARY The electrical panel not labeled or is only partially labeled. All panels must be completely labeled correctly to 30 OFisISSUES required. indicate which circuits the breakers or fuses serve. Location: Basement. Label the panel. a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 89abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789 abcde fghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ0123456789

Plumbing - Supply Pipes 888.USINSPECT ● Page 16 The hot side of the hot water heaterwww.usinspect.com supply pipes are half●inch in diameter. This pipe12 should be 3/4 of an inch in diameter. Location: Above water heater. It’s recommended consulting a licensed plumber for options and repairs that may be needed.

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Plumbing - Drain, Waste, Vents 17 The drain pipe has an "s trap" installed. This may leave the trap empty and permit sewer gases to enter into the living area. Location: Kitchen. Hire a plumber to make the needed repairs.

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18 The drain pipe is a corrugated or accordion style. The folds may capture debris and clog. Location: Hall Bathroom.

Hire a plumber to replace the pipe.

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Plumbing - Sink 19 The sink faucet is loose. This affects proper function and may permit water damage. Location: Kitchen and hall bathroom. Repair or replace the faucet.

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Appliances - Refrigerator/Freezer 20 The refrigerator ice-maker does not operate properly. This affects proper function. Location: Kitchen. Repair or replace the ice-maker.

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Environmental - WDI/WDO 21 There is evidence of possible wood-destroying insect activity and damage. We do not determine the extent of the activity or any damage during a home inspection. Location: Above laundry tub on floor joist. Hire a pest specialist for further evaluation and required action.

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Environmental - Other 22 There was an odor at the main staircase. This was most noticeable on the first and second floors. Location: Pet odor at main staircase. It’s recommended determining the source of the odor and take correct of action at that time. www.usinspect.com ● 888.USINSPECT ● Page 13

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MAINTENANCE Exterior - Chimney 23 The chimney is >50 years old. Location: Left Side. Monitor the chimney; hire a contractor for further evaluation as required.

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Sample Settlement Statement At Settlement or Closing, the Buyer and the Seller will make good on all their contract promises. The settlement statement shows an accounting of what each Party owes and for what.

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Buy Your Home Better with Fischer Real Estate

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Multiple Offer Grid OFFER 1

OFFER 2

OFFER 3

$890,000

$867,000

$880,000

Escalation Increments

---

$5,000

$1,031

Escalation Max

---

$892,000

$900,000

Seller Credit

---

---

---

Eff. Offer $

$890,000

$892,000

$900,000

Settlement Date

10/27/2021

10/26/2021

10/30/2021

Down Payment

20%

5%

10%

Conventional

Conventional

Conventional

Rt to Nego - 7 days

Rt to Nego - 4 days

Rt to Nego - 7 days

---

---

---

20 days

14 days

25 days

No Separate

No Separate

15 days

EMD

$35,000

$23,000

$20,000

Settlement Agent

Paragon

Counselors

Stewart Title

---

---

---

Purchaser

---

Purchaser

Initial Offer Price

Financing Home Inspection As-Is Clause?

Financing Contingency Appraisal

Warranty Termite Inspection

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Depending on the list price strategy a Seller uses, there may be more than one Buyer interested in the property. Sellers and their agents often compare offers using a grid like this. This grid is for a property listed for $889,000.

OFFER 4

OFFER 5

OFFER 6

OFFER 7

$889,000

$889,900

$889,000

$905,000

$2,500

$5,000

$2,500

$5,300

$900,000

$932,000

$935,000

$951,000

---

---

---

---

$900,000

$932,000

$935,000

$940,300

10/6/2021

30 days

10/18/2021

10/12/2021

20%

15%

20%

Cash

Conventional

Conventional

Conventional

Cash

Void Only - 3 days

Not Contingent

Void Only - 7 days

Void Only - 2 days

---

As-Is

---

As-Is

10 days

21 days

10 days

---

10 days

18 days

No Separate

---

$25,000

$20,000

$20,000

$25,000

Federal Title

District Title

RGS

Prime

---

---

---

---

Purchaser

Purchaser

Purchaser

Purchaser

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Resources

Market in a Minute www.FischerRealEstate.com/Market-in-a-Minute

FRE Resource List www.FischerRealEstate.com/Resource-List

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Vendor Connections Contact Chris Fischer

9 Questions for Your Buyer Agent www.FischerRealEstate.com/ Questions-For-Buyers-Agent

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Fischer Real Estate Sales: Virginia

Since 2003, Chris has helped her clients move to their dream homes, selling over $250 million in real estate in Washington, DC and Northern Virginia.

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Washington, DC

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Testimonials "I was referred to Chris by a friend who had worked with her on three separate occasions. Her recommendation was spot on! As a first time home buyer, I needed a lot of guidance throughout the process and Chris was great at walking me through each step. Like many rookies, I had a long list that I wanted in my first home. After viewing a number of properties, we narrowed it down to what really mattered and found a great apartment. Chris' help was invaluable and the home has already appraised above the closing price. I would refer Chris to any of my friends."

- Anna, Washington, DC

"My wife and I bought and sold our Arlington homes through Chris. We had the stress of buying a property first and then selling our first property.

It was helpful to have someone walk through who is experienced, especially during the negotiation process. Chris did such a great job that I have referred her to several clients. I also reach out to her with all my real estate questions as an Estate Attorney. In fact, her knowledge was helpful with the last estate home she helped me sell. We had a buyer walk out and Chris was very knowledgeable about residential real estate rules and regulations which ultimately helped us navigate finding a second buyer and closing the deal."

- Christopher, Arlington, VA

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"Chris was excellent. She was extremely knowledgeable about DC real estate.

I found her to be thorough and helpful with advice. She allowed me to explore different price points, neighborhoods, types of homes, and buying options. I would absolutely recommend her to a friend."

- Ashley, Capitol Hill, DC

"Thank you all so much for being a wonderful team to work with as we purchased our first home. We know it's a busy time and unusual circumstances and we appreciate that it never felt chaotic and you went above and beyond to make us feel at ease (both generally with the process, and with extra social distancing precautions). We feel so fortunate that we had such a great experience, all thanks to you, and will be sure to recommend you to any friends looking to buy soon as well."

- Kaitlin & Brian, Alexandria, VA

"Chris makes you feel like you are her top priority at all times. Her professionalism, compassion, sense of humor and knowledge of the industry make her a real pleasure to work with. I also find Chris very calming and focused which helps tremendously with the stress that comes with buying and selling a property."

- Koren, Alexandria, VA

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FRE Com

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mmunity

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Chris Fischer Licensed in DC & VA | M. 703.930.6349 cfischer@mcenearney.com www.FischerRealEstate.com McEnearney Associates, 14th Street Office 1803 14th Street NW, Washington, DC 20009 | Tel. 202.903.2200 McEnearney Associates, Arlington Office 3135 Langston Boulevard, Arlington, VA 22201 | Tel. 703.525.1900 McEnearney Associates, Clarendon Office 3033 Wilson Boulevard, Arlington, VA 22201 | Tel. 703.525.1900

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