Buyer Guide

Your Guide To Homeownership

Welcome!

Introducing our Home Buyer Guide – your essential tool for navigating the world of real estate. Whether you're a seasoned buyer or embarking on your first purchase, this guide is tailored to your unique needs.

Buying a home is a significant decision, and we understand the challenges. That's why we've created the Home Buyer Guide – to provide you with clarity and confidence.

Our guide breaks down the process into simple steps, offering clear explanations and expert tips. Education is key, empowering you to make informed decisions aligned with your preferences.

Stay up-to-date with changing trends, regulations, and technology that impact your experience. An educated buyer is a confident one.

Thank you for your time. Explore this Home Buyer Guide and let us embark on your journey to finding the perfect home.

Cheers,

Ilya J. Rasner

YAY!

TABLE OF CONTENTS 01 02 03 04 05 06

About Us Learn about us and our team, our expertise, and our commitment to making your homebuying experience as smooth and rewarding as possible.

Preferences This is where you articulate your desires, outlining 'The What, The When, The How' that will shape your quest for the perfect home.

Let's discuss the optimal ways to connect and collaborate to bring your dream home to life.

Needs and Wants Checklist Delve into a systematic exploration of your priorities and preferences, ensuring that every property you consider aligns with your vision of the perfect home.

The Timeline

A structured glimpse into the process, breaking down each step.

Whether you're a first-time buyer or seeking a refresher, this section provides a clear roadmap to anticipate what lies ahead.

Join us as we map out the journey towards owning your dream home.

Buying 101 This comprehensive guide dissects each stage of the process, offering a granular understanding of what to expect and what's required at every step.

Financing at a Glance A snapshot of securing a home loan, presenting a clear overview of the process.

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What our clients say about us:

Ilya Rasner, President Allow me to introduce myself – I'm Ilya, a seasoned real estate agent proudly serving the Greater Boston area for over 17 years. With a track record that speaks volumes, I've secured a spot as a Boston Magazine Top Producer for two consecutive years. What sets me apart? My approach is friendly, genuine, and down-to-earth, a contrast that my clients truly appreciate in a sea of real estate agents. I bring a touch of humor to the table, lightening the load of buying and selling stresses.

My local market expertise is unrivaled, a testament to my deep-rooted knowledge. I harness this knowledge to provide my clients with the guidance they need to make confident choices. Regardless of whether you're a seasoned seller or a first-time buyer, I'm dedicated to being by your side every step of the journey, tirelessly working to ensure your success.

But there's more to my story. I'm not just about real estate; I'm also deeply committed to my community. As part of The Rasner Group, a portion of every commission goes to a charity chosen by our clients. Giving back isn't just a notion – it's a part of our DNA. In me, you'll find a wealth of experience, industry recognition, and a dedication to making a difference. For all your real estate needs, I'm your go-to expert, ready to guide you toward your goals.

Over 1,400 Sold Properties We've been recognized as Boston Magazine's Top Producer in 2021 & 2022!

To learn more about us, you can also check out the following: Google Reviews: https://goo.gl/maps/fF2zoi8mz8H2 Zillow: https://www.zillow.com/profile/The-Rasner-Group/ Yelp: https://www.yelp.com/biz/the-rasner-group-cambridge

Ilya and his team helped my family find our dream home. Through patience, diligence, and a network of allies Ilya was able to move mountains in navigating the complex process that is buying a home. We couldn't be more happy with Ilya's professionalism and guidance in the process. He was never pushy, always offering objective feedback and observations.

D.S.

Ilya was incredibly patient and never pressured me to buy, rather he let me come to my own conclusions in my own time. It always felt like it was about relationship-building instead of transactional. He connected me with an expert team for real estate law and mortgage and The Rasner Group introduced me to and coordinated folks for flooring and painting. I felt really very supported by everyone throughout the process.

And now, I'm a first-time homeowner! E.R.

The Rasner group sets the standard for buying or selling a home in Cambridge. Ilya knows the market better than anyone, gives expert advice on price, marketing, repairs, and his team (Kimberly and Kristine) are incredibly effective at coordinating all the pieces together. Seeing all of the work they did on my behalf (including physical labor to clear off my balcony!) made it clear that choosing the right partner is essential.

Extremely trustworthy, highly respected in the community, and always put my interests first. Highest recommendation. M.K.W

Follow us on Social Media https://www.facebook.com/therasnergroup https://www.instagram.com/ilya.rasner.realtor/ https://youtube.com/@rasnergroup

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YOUR

THE BASICS

Have you considered who my main contact will be?

What timeline would you like to strive for?

Have you looked into getting preapproved for a home loan?

THE WHAT, THE WHEN, THE HOW LET'S TALK ABOUT THE BEST WAY TO GET IN TOUCH. WHAT IS YOUR FAVORITE WAY TO RECEIVE INFORMATION OR UPDATES? Select all that apply

Email Call Text WHAT IS THE BEST TIME TO REACH YOU?

Have you thought about the price range you'd be comfortable with?

Select all that apply

Morning Noon Afternoon

If I found a home today that checked all of your boxes, could you see yourself making a move sooner rather than later?

Evening Anytime AS UPDATES ARISE, HOW OFTEN DO YOU PREFER TO BE NOTIFIED? Select all that apply

ASAP In a few hours That day Every few days

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YOUR

Remember, your home search should balance your needs, wants, and budget. Prioritize your requirements and consider compromising on some wants to find the perfect home for you and your family. Here's an initial checklist to kick-start your evaluation:

MUST-HAVE NEEDS: 1. Location: Is the home conveniently located near your workplace, schools, public transportation, and essential services?

2. Number of Bedrooms: Does the home offer enough bedrooms to accommodate your family and potential guests comfortably?

3. Number of Bathrooms: Are there enough bathrooms to meet your family's daily needs?

4. Square Footage: Does the home provide enough living space for your lifestyle and comfort?

5. Safety and Security: Is the neighborhood safe with a low crime rate?

6. Kitchen:

DESIRABLE WANTS: 1. Updated Kitchen and Bathrooms: Are the kitchen and bathrooms updated with modern amenities and fixtures?

2. Natural Light: Does the home have plenty of windows for abundant natural light?

3. Energy Efficiency: Are there energy-saving features that could help lower utility bills?

4. Open Floor Plan: Does the home offer an open and flowing layout between common areas?

5. Home Office Space: Is there a dedicated area suitable for remote work or studying?

6. Walk-In Closets:

Does the kitchen have a functional layout and enough

Do the bedrooms have walk-in closets for extra

storage space?

storage?

7. Outdoor Space:

7. Fireplace:

Does the property include a yard, garden, or balcony for

Is there a fireplace to create a cozy ambiance during

outdoor activities?

colder months?

8. Storage: Are there ample closets and storage options throughout the home?

9. Parking:

8. View: Does the home provide scenic views of nature, the city, or water?

9. Outdoor Amenities:

Is there covered parking or sufficient off-street parking

Are there additional outdoor features like a pool,

available?

deck, or outdoor kitchen?

10. School District:

10. High-Quality Flooring:

Is the home located in proximity to quality schools if

Is the flooring made of durable materials like

you have children?

hardwood or tile?

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THE an overview

START

OBTAIN PRE-APPROVAL INITIAL STEP

MAKE AN OFFER

DAY 7

INSPECTION $500

DAY 1

CONDO DOCS REVIEW IF APPLICABLE

DAY 14

PURCHASE & SALE AGREEMENT 5% OF THE OFFER PRICE

WITHIN 2 WEEKS ~ $500

1 DAY AFTER P&S

MORTGAGE COMMITMENT 3-4 WEEKS AFTER P&S

CLOSE PAYMENT OF AGREED-UPON DOWN PAYMENT + CLOSING COSTS *THE PROVIDED COSTS ARE ESTIMATES AND MAY VARY BASED ON ACTUAL SERVICE PROVIDERS. THE ACTUAL COSTS WILL BE DETERMINED BY THE SPECIFIC SERVICE PROVIDERS USED.

21 BANKING DAYS

APPRAISAL

SUBMIT FORMAL MORTGAGE APPLICATION

10 CALENDAR DAYS

$1,000 TO $5,000

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an in-depth process review

PARTNER WITH AN AGENT Absorb their local insight Get to know neighborhood inventory levels See what's about to hit the market Gain access to off-market properties Review market averages Complete needs assessment

GET PRE-APPROVED FOR A LOAN Understand what you can afford Determine your monthly mortgage payment Understand your debt ratio Prepare for escrow Obtain a pre-approval letter

FIND YOUR NEW HOME Compare home and neighborhood averages, then narrow down the neighborhoods you want to live in Favorite homes and save them to your collections Nix homes that don't meet the mark Schedule home tours and plan an itinerary with your agent Decide on your dream home

MAKE YOUR OFFER AND NEGOTIATE THE TERMS Review contract terms and time limit for offer Negotiate purchase price Choose a title company Shop home insurance options Prepare for down payment, earnest money Choose a target closing date Sign the offer Deliver escrow check Stay in close contact with your agent

UNDER CONTRACT Secure a home loan *more details to follow Acquire home insurance and send proof to your lender Schedule home inspection and negotiate repairs Order an appraisal Neutralize any contingencies [e.g. inspection, mortgage, appraisal contingencies] Conduct a title search Choose your title company Schedule your closing Solidify both contract exective date and allowable move-in dates Certify funds for closing Stay in close contact with your agent, attorney, and lender

Transfer funds for closing Reserve a moving company and set a moving date Change your address through USPS, your bank, and other instances Set up your utilities to be activated or transferred Confirm that all contingencies are resolved Schedule the final property walk-through Designate a safe, dedicated space to save your final paperwork Stay in close contact with your agent, attorney, and lender

CLOSING 7 DAY: WHAT TO BRING Connect with your lender/attorney to wire down payment funds. You'll need to cover the cost of closing and the down payment.

Bring a printed confirmation of your wire transfer Government-issued photo ID(s) Social Security numbers Home addresses from the last 10 years Proof of homeowner's insurance Your copy of the contract Your checkbook

This guide has a clear mission: to equip you with valuable insights and effective strategies, ensuring your homebuying process unfolds seamlessly. Throughout this journey, we're your steadfast partners, ready to assist you at every juncture. Whether it's clarifying doubts or providing direction as you navigate the pragmatic aspects of purchasing a home, count on us.

CLOSING DAY Sign closing disclosure, promissory note, and all other documentation Title transfer Deed delivery Save your paperwork in your pre-designated spot Get your keys - congrats, it's all yours!

Owning a home is a keystone of wealth - both financial affluence and emotional security.

Suze Orman

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BEFORE YOU CLOSE

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at a glance

FINANCING STAGES Get pre-approved for your loan Apply for a mortgage

CONGRATS! YOU'RE APPROVED FOR A LOAN! Follow these tips to protect your loan:

Get your home appraised Your loan goes through underwriting You're cleared to close!

DO: Notify your lender of any address change, whether it's your home address or another listed on your application Notify your lender of any salary or wage changes Be prepared to provide proof of significant bank deposits

HAVE-ON-HAND

Acquire homeowner's insurance

A month's worth of your most recent pay stubs

A copy of your real estate agreement

Copies of your last two years' federal tax returns and W-2s

The names and addresses of your landlords over the past two years

The names and addresses of your employers over the last two years, compiled into one list Last three months ofbank statements

Divorce/separation decree Child support papers Bankruptcy, discharge of bankruptcy papers

immediately after going under contract Keep all forms of debt paid and in check

DO NOT: Make large purchases using existing credit without first talking to your lender Apply for or acquire any additional lines of credit Pay off, transfer, or close credit balances unless your lender instructs you to do so Change jobs without first talking to your lender Co-sign for another person seeking to obtain a line of credit or to make a purchase Pay off collections before conferring with your lender

Thank you for journeying through our Home Buyer Guide. We trust that this comprehensive resource has provided you with valuable insights and guidance as you navigate the exciting path of purchasing a property. Your journey is unique, and our commitment is to empower you with knowledge to make informed decisions. We are here to support you every step of the way.

How to Reach Us: If you have further questions, need assistance, or are ready to embark on your real estate adventure, don't hesitate to reach out. Contact us through the following channels, and let's start turning your real estate aspirations into reality:

Ilya J. Rasner The Rasner Group | Keller Williams Realty 607 Boylston Street, 5th Floor, Boston, MA 02116 (617) 823-9780 ilya@rasnergroup.com www.rasnergroup.com

✉️ 📱 📧 🌍

Thank you for considering us as your real estate partner. We look forward to being a part of your journey towards finding your dream home.

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Thank you!