THE McBRIDE TEAM
RE/MAX EXECUTIVE REALTY
INTRODUCTION
Welcome to Buying a Home
The buying process is a combination of excitement, stress, and new experiences, whether you are a seasoned home buyer, property investor, or this is your first time buying a home.
The simple fact is that buying a home is rarely a purchase that people make on a regular basis, which is why it is crucial to have an expert consulting you at each step of the process.
This Buyer’s Guide is intended to give you a resource that will help you define your goals, research your options, and direct you through the process so that you can make informed decisions.
When you buy a home, it should be about YOU:
• Your dreams
• Your requirements
• Your financial situation
• Your time
• Your lifestyle choices
• Your concerns
THE HOME BUYING PROCESS
INITIAL INTERVIEW WITH BUYER
MORTGAGE APPLICATION START HERE B
PRE-APPROVAL LETTER FROM LENDER
SHOW PROPERTY
OFFER RECEIVED
NEGOTIATE OFFER
UNDERWRITING
LOAN APPROVAL
TITLE SEARCH
CONTRACT
CLOSING PACKAGE TO BANK ATTORNEY OFFER ACCEPTED
SETTLEMENT
MORTGAGE
POSSESSION
Determine Why You Are Buying a Home 1
DEFINE YOUR GOALS
Is it a permanent place for you and your family, an investment, or a second home? Whatever the reason, it is important that you buy with an eye on the resale investment potential.
Why has buying a home also become such an investment opportunity?
• No one can predict the future, and over the last 25 years, the average price of a home has risen substantially.
• Land has become a decreasing resource, especially in and around major city and cultural hubs, which has created the demand.
• Housing is typically considered to be a stable investment, offering good rates of return.
• Low interest rates over the last 10 years have made mortgages affordable.
• Money that pays a mortgage turns into equity that can be used to finance other opportunities.
• Demographics and immigration have always been major factors in influencing investment opportunities.
• It is not always necessary to sell your home just because you are moving; depending on the equity created, it may be possible to offset the remaining mortgage by renting out the property.
Investing your time to understand your local market and its influences could pay large dividends.
Your Realtor should represent you with comprehensive, high-quality service. After all, the seller has their own representative working for their best interests – shouldn’t you have an expert on your side too?
SELECT A REALTOR®
Commitment and Dedication
It is important to work with a Realtor who is not only committed to working with you, but who is also dedicated to finding you the RIGHT home. Consider their knowledge, experience, and expertise, check their track record of working with buyers – from finding a home, to negotiating the offer, to helping with financial solutions.
RESPONSIBILITIES
To educate you about the buyer agency and professional responsibilities, including complete disclosure, loyalty, confidentiality, compliance, and accountability.
UNDERSTANDING YOUR REQUIREMENTS
To take the time to understand the priority of your requirements – location, property type, size, the must-haves, local amenities, etc. – even if it changes.
RESEARCHING THE MARKET
To provide a sophisticated home search process that helps you by previewing homes and keeping you up-to-date with new homes as they come to the market.
VIEWING AND ASSESSING HOMES
To view homes and provide a comparative analysis. To refer you to expert home inspectors who will provide an in-depth analysis and advice.
CONSULTATION AND NEGOTIATION
To present consultation in relation to your written offer to purchase a home, with all terms approved by you. Negotiating the best possible price and terms for you and taking care of all the documentation details.
SERVICE PROVIDERS
To help you explore your financing options –referring excellent mortgage professionals, so you can make the best possible mortgage decision. To assist you in finding any homerelated services needed.
CLOSING
To keep you fully informed about all activities that lead to the transaction closing.
RESEARCH YOUR OPTIONS
Determine What You Can Afford and Where
Buying and financing a home are closely related, so it is very important to review your current financial situation to understand how much you can afford.
Three key components that determine the start of all searches:
1. LOCATION – where do you want to live?
2. TYPE – what type of home do you want?
3. PRICE – what can you afford?
Only you can determine the importance of each. Once you start to research your options, you will soon know if your expectations are realistic.
LOCATION, LOCATION, LOCATION
Why does location matter so much? For starters, you can’t move a home — at least not easily or inexpensively. When you buy a home in a good location, it is usually a solid long-term investment.
Perhaps more than ever, location is the key factor driving price increases. In a strong housing market, homes in particularly desirable areas are more likely to see above average price increases. In weak housing markets, these homes tend to retain their value better.
5 CHARACTERISTICS THAT MAKE A GOOD LOCATION
1. A SAFE NEIGHBORHOOD
A home located in a community with little crime, where neighbors interact, and it’s safe to walk freely, is most desirable.
2. GOOD SCHOOLS
Being in a good school district, even if you don’t have children, is where young families will always buy. The better the school district, the higher the values of the surrounding homes.
3. CONVENIENCE
The easier the access to main features of the community, the more valuable the home. For homeowners in cities and towns it is is access to shopping and public transit, for beach communities it is the beach, for many it is access to major road systems.
4. WATER ACCESS AND VIEWS
No matter which town or city, someone will always pay for a great view or to be near the water, or their favorite recreation activity. Put a home right on a waterway or on a hill with panoramic views, or offer the upper floors in a high-rise, and you have a great selling point.
5. NO INTERMITTENT NOISE
Being located near noise, whether a busy street during rush hour, close to a fire station or hospital, an airport, or local school, is generally considered a negative. These intermittent noise factors can be missed when looking at a home and not reviewing your location fully.
UNDERSTANDING PROPERTY
TYPES
Understanding the fundamentals is not only important, but necessary to consider a variety of types and sizes. Each type of property offers its own advantages and disadvantages.
HOUSE
The most popular style and the most solid investment, a free-standing and detached home resting on its own lot offers a greater degree of privacy. Typically, homes and the land are owned completely by the homeowner and is therefore completely their responsibility to manage and maintain.
SEMI-DETACHED/DUPLEX
A single-family home that is joined to another one by a common wall. It can offer many of the advantages of a single-family detached home and is usually less expensive to buy and maintain.
TOWNHOUSE
One of several types of single-family homes joined by common walls. It offers less privacy than a single-family detached home, but still provides a separate outdoor space. These homes can cost less to buy and maintain, but are typically subject to homeowner associations that are responsible for maintenance and management, which can cost an additional fee per month.
CONDOMINIUM/APARTMENT
Refers to a form of legal ownership as opposed to a style of construction. Condominiums can be high-rise residential buildings, townhouse complexes, individual houses, or low-rise residential buildings. Owners do not have complete control over their property, being subject to homeowner’s association rules; however, the maintenance and management of the building are taken care of, and in many cases, there is an increased level of security.
UNDERSTANDING MARKET VALUES
Whether you have chosen your location or property type based on your budget, it is still important to research the value of homes currently on the market.
The current selling price of a home does not mean that a property is ‘worth’ that amount to you – market conditions and what a buyer is willing to pay for a property affect the true value of the home at any moment in time.
When deciding the value of any property, the following criteria should be considered:
• Location of the property
• Condition of the property
• Buyer demand
• Current prices of similar properties
• Recent sales of competitive properties
• Availability of financing
Ultimately, the value of any property is dependent on what is important to you and whether this is the home you wish to buy.
MAKE YOUR PLANS
After answering the following questions, you will be in a great position to research your housing and mortgage options, as well as create the appropriate action plan and timeline for moving forward.
SET YOUR PRIORITIES
• What do you want from a home?
• What does your family want from a home?
• Do you want a turnkey home or would you prefer to renovate?
• Choose the top five ‘must-haves.’
• Choose the top five ‘would-likes.'
• Are you pre-approved for a mortgage?
• What can you afford on a monthly basis?
• When is the ideal time to move?
GET PRE-APPROVED
No matter your prior experience, circumstance, or reason for buying, it is always in your best interest to be pre-approved for a loan before starting the search for a home. The current rates, approval, and unexpected challenges should be addressed before buying.
The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history, which results in the amount and rate that you will be able to borrow.
BENEFITS OF PRE-QUALIFICATION
• Knowing what you can afford enables you to plan accordingly – it allows you to understand how much you will be lent and how much you can actually afford to pay each month.
• As a qualified buyer, you will be taken more seriously when you make an offer on a home.
• You are able to take the time to understand the short and long-term implications, allowing you to make informed decisions and research your options.
5 STEPS OF THE LOAN PROCESS
1. APPLICATION AND INTERVIEW
• Types of mortgages are reviewed in line with your requirements
• Interest rates and terms are discussed
• Credit report is requested
• Personal information is verified
2. UNDERWRITING
• The mortgage package is submitted to an underwriter for approval
3. TITLE COMPANY
• Title is examined
• Title insurance and survey are conducted
• Borrowers to sign documentation
4. LOAN APPROVAL
• Parties are notified of approval
• Loan documents are completed and sent to the Title Company
5. FUNDING
• Lender reviews the loan package
• Funds are transferred
LOOK FOR A PROPERTY 6
THE INTERNET
Most often, buyers use the Internet to start their search for homes that meet their criteria. Please feel free to register at www.McBrideTeam.com to receive daily property updates.
YOUR REALTOR
We will assist you in narrowing your search by reviewing your “must-haves” and “would-likes” –making recommendations based on our experience and local knowledge.
PRINT MEDIA
Newspapers and real estate magazines still provide a platform that features homes; however, some of the homes may have sold before going to print.
PROPERTY VISITS
Visit open houses and new home developments where you can learn a lot by seeing what is on the market. Please be aware that some open houses require us to be present on the first visit. This is important to make sure you have proper representation, so please let us know which homes you plan to visit and we will follow up with the listing agents.
BUILDING A HOUSE-HUNTING CHECKLIST
In the hunt for a perfect home, it’s easy to forget the important priorities when you see a stunning feature or are overwhelmed by all the choices and homes you have visited. Use this checklist to help you stay organized and focused on the important criteria during your search:
Make a comparison chart for when you start viewing:
Size
Positioning of the living spaces
General size of rooms
Kitchen style and appliances
Bedrooms
Bathrooms
En-suites
Garage space(s)
Backyard
Landscaping
Condition of roof, exterior
Storage space
Natural light
Do you feel an emotional connection to the home?
Take a tour of the home and do a second walk-through without emotion. Become the inspector and look beyond the surface:
Will your furniture fit?
Floor plans are a great way to see the flow and how changes can be made. Not available? Measure and draw your own!
Check out the true storage space – open cupboards, doors, attics, basements, and storage cabinets.
Lift up rugs and investigate for damage on the floor, under furniture, in the back of cupboards, etc. Look at every detail from floor to ceiling, including window trims, under sinks, bathroom tiles, etc.
Look outside – understand the landscaping and the layout of other homes around the home, traffic, parking, noise, etc.
View property at different times of the day
Take a moment to envision how you would use the space – does it fit your every day needs?
Who are your neighbors?
How long has the house been on the market?
Is it priced to sell?
Compare its price to others sold on the market
What is the resale potential?
NEGOTIATE
AN OFFER
When you have found the right home, it is time to prepare and draft an offer of purchase. This offer protects and represents your interests while remaining legally binding on final acceptance. There are many components to an offer, and your Realtor will explain the entire process so that you are comfortable with the steps involved.
An offer can be drafted with or without conditions; an offer without conditions is known as a firm or subject-free offer, and one with conditions is known as a conditional offer and, in effect, protects one party with the placement of certain conditions on the purchase.
POINTS TO CONSIDER IN YOUR NEGOTIATIONS:
• The condition of the home
• Length of time it’s been on the market
• Buyer activity
• Location
• Urgency of the seller
The seller may accept your initial offer, reject your offer, or present a counteroffer. The counteroffer may differ from your original offer in respect to price, conditions, the closing date, or any other item. Offers can be countered back and forth between the parties until one of you accepts or rejects, ending the negotiations altogether.
TYPICAL CONDITIONS TO INCLUDE
FINANCIAL TERMS
• Mortgage approval
• Seller to pay any closing costs or pre-paid we are asking them to participate in
HOME INSPECTION
• Full access and inspection by a certified inspector
• Possibly request certain repairs to be completed and approved before purchase
CLOSING DATE
• Typically dated to give you and the seller the time required to complete the purchase transaction
• Related to the sale of your present property or the remaining term of your rental lease
• Subject to the seller’s flexibility to move
INSURANCE
• Most mortgage companies require home insurance prior to approval
REMOVE CONTINGENCIES
Typically, once an offer is accepted, a home inspection will take place at the expense of the buyer. You have the right to inspect the mechanical, electrical, plumbing, structural portions, etc., of the property. You also have the right to conduct other tests, which could include but are not limited to radon, mold, water quality/quantity, and lead. We recommend you accompany the inspector to ask questions and receive a written report itemizing any areas of concern. If any items of concern arise at the home inspection, The McBride Team will make recommendations as to how to best negotiate with the seller.
Once you are satisfied and commit to signing the Purchase & Sale on the home, you will continue working with your mortgage broker to secure a mortgage. On the seller's side, they will be working toward completing any agreed upon requests that were negotiated as a result of the home inspection.
PREPARE FOR CLOSING
After all the contingencies have been removed, it becomes the responsibility of the legal and financial institutions to prepare all the necessary paperwork. Should there be any issues, your lender or attorney should contact you.
Closing day marks the end of your home buying process, and the following items should be brought to the closing:
• A certified check for closing costs and down payment.
• An insurance binder and paid receipt
• Photo IDs
• Social Security numbers
• Personal check for miscellaneous items
At closing, you will sign all your legal documents, including paperwork relating to your mortgage and the transfer of ownership of the property.
When on record, you should have the keys to the property and a copy of the documentation that relates to the property, including a statement of costs, a statement outlining your mortgage terms, your mortgage note, and a copy of your deed of trust. At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing.
TIP: Make arrangements to see the new home the day before you close to ensure the home is in the condition per the contract agreement.
10MOVE IN
Moving into a new home is an exciting time, but it can also be stressful. Whether you are doing it yourself, asking friends for help, or hiring professionals, this moving guide will provide you some great insight:
• Hire a moving company and/or rent a truck. Book early – especially if you are moving at the end or beginning of the month.
• Be sure to get a written confirmation of pricing and the date.
• De-clutter your home - it’s the perfect time to donate items that you no longer use.
• Order boxes and moving supplies.
• Time to start packing! To make it easier, begin with items in your home you do not use regularly. Pack room by room.
• Be sure to label the boxes, which room the box is going, and a quick checklist of the items inside – this makes unpacking much easier.
• Make a list of the items that need extra attention during moving. Label boxes as fragile as needed.
• As you pack, make notes and photograph items of significant value for insurance purposes.
• Prepare a detailed map and directions for your movers, including a cell phone number where you can be reached on moving day.
• Be present when the truck is being loaded and unloaded, just in case questions arise.
• Address change – post office, banks, cable, Internet, phone, insurance company, utility company, credit card company, doctor and dentists, and any subscriptions you may have.
• For both the new and old home, make a note of all utility meter readings.
• Pack a travel bag with the items your family may need on moving day, such as toothbrushes, a change of clothing, medications, hair brushes, soap, toilet paper, towels, etc.
• Arrange for cleaners for the new home and old home. Even if the previous owner hires a cleaner – that extra touch before you arrive makes your new home feel fresh and ready.
COMMON TIPS FOR HOME BUYERS
• Make sure you set a budget and stick to it.
• Love the location of your home, not just your house.
• Make sure to become pre-approved to purchase a home.
• Choose a qualified mortgage company provided by The McBride Team.
• Meet with your mortgage broker to understand interest rates, terms, etc.
• Do you want to purchase before you sell? Discuss advantages and disadvantages.
• Understand the additional costs to purchase a home.
• Use professionals such as mortgage brokers, inspectors, and attorneys throughout the home-buying process.
AN INTRODUCTION TO THE McBRIDE TEAM AND RE/MAX EXECUTIVE REALTY
KATIE McBRIDE’S ACCOMPLISHMENTS
Specializing in Residential, Relocation, and New Construction
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
• Trainer, Prudential Pratt & McBride
• Partner/Owner in two real estate companies until 1996 - sold to dedicate 100% of efforts on the listing and selling of real estate
• Extensive knowledge of Metrowest area
• Completed Annual Real Estate Continuing Education Courses and Seminars
• Member, National Association of Realtors & Massachusetts Association of Realtors
• Member, Multiple Listing Service
• Subscriber to the Realtor Code of Ethics
• Certified Home Buying & Selling Specialist
• Certified Buyer Representative
• Corporate Relocation Expertise
• Founded Hopkinton High School Student of the Month - each month The McBride Team congratulates a student in our community by giving them an Amazon gift certificate and posting in the local newspaper the student’s accomplishments
• Member, Business Networking International (BNI)
• Member, RE/MAX Charitable Foundation
BUSINESS ACHIEVEMENTS AND HONORS
• Bachelor of Arts, Worcester State College, 1988
• Multi-Million Dollar Producers - Incentive Compensation Program Award Recipient
• RE/MAX 100% Club - RE/MAX Platinum Club
• RE/MAX Lifetime Achievement Recipient
MEET THE McBRIDE TEAM
“We have been a team since 2006 and have been providing our clients with the highest level of real estate service since 1988. We specialize in New Construction, Residential Sales, and Relocations. When you choose The McBride Team, you will have true professionals working on your behalf, providing you with the quality of service you should expect. We handle all of our real estate relationships as a team, and our extensive knowledge ensures the maximum benefit to you as the buyer.”
Katie McBride, REALTOR®
508.277.9600 | Katie@McBrideTeam.com
Katie McBride was born and raised in Hopkinton, MA, and now resides in the neighboring town of Holliston. She has been selling real estate since graduating from college in 1988. She was an owner of RE/MAX Executive Realty before deciding to sell her ownership in order to focus her efforts on the listing and selling of real estate.
Debbie Brosseau, Marketing Specialist
508.259.6322 | Deb@McBrideTeam.com
Debbie Brosseau, who doubles as the Administrative Assistant, is a licensed real estate agent involved with every transaction, as well as a Certified Social Media Agent (CSMA). She owns income property and is familiar with all aspects of residential real estate. Debbie is also a lifelong resident of the area, with extensive knowledge of the communities in the Metrowest Massachusetts area.
www.McBrideTeam.com
FULL SERVICE REAL ESTATE
When you hire The McBride Team, they will become your home’s:
MARKETING MANAGERS
• Showcase your property with the finest marketing
• Develop and implement a customized marketing strategy
• Help determine the best price in line with market forces
• Communicate regularly so you are informed and knowledgeable LIAISON MANAGERS
• Introduce new buyers to your property
• Pre-qualify the buyers to avoid time-wasters
• Provide you with timely updates on viewings and feedback NEGOTIATORS
• Present and negotiate on your behalf with potential buyers
• Advise you on the merits of each offer
• Always keep your best interests as their first priority CLOSING MANAGERS
• Provide information in a timely manner to the buyer
• Only accept certified bank drafts
• Liaison with your lawyer/notary and deliver necessary documentation
• Facilitate answers and resolve any issues during the closing process and ensure it is completed seamlessly CONCIERGES
• Provide you with access to experts, including legal advisors, insurance experts, builders, landscapers, interior designers, rental experts, home stagers, painters, handymen, home inspectors, and moving services
DEDICATION & COMMITMENT
Buying or selling a home is the largest transaction most of us will ever make, and it can be a very complex, emotional, and time-consuming experience. The McBride Team is dedicated to making certain that YOU come away completely satisfied.
93% OF OUR BUSINESS COMES FROM REFERRALS!
Most Realtors spend the majority of their time, energy, and marketing resources prospecting for new business for themselves, whether it's advertising, direct mail, cold calling, door knocking, etc. –We don’t do any of that.
We devote ourselves to serving the needs of our clients before, during, and after each transaction. Our marketing resources are used for the marketing of your home – if a home is marketed professionally, then it will attract more notice, gain more exposure, and generate more interest.
As long as you and our other clients keep referring us, we do not have to go out prospecting like everyone else, and we can do an even better job working for you.
JUST ASK OUR CLIENTS
Susan and Brian A.
"We moved from out of state and knew very little about the area. Katie answered each and every question we had about various towns and helped us narrow down. She carefully listened to what we were looking for both in home features and budget and delivered in every home she showed us! After just the first meeting with Katie, I felt like she was a friend that knew my likes and dislikes and 100% trusted her in finding the right house for us. When we finally decided on the house, we realized the buying process in Massachusetts was a bit different, and Katie expertly guided us through. Once we moved, she continued to answer all of our questions immediately and has the best referrals for every service we could possibly need. Couldn’t have moved to Massachusetts without Katie McBride!"
Courtney O.
"Katie truly is the best of the best. With nearly 30 years of experience in this business in the local market, we could not have chosen a better qualified real estate agent to represent us both as a buyer and seller. She defies all the negative stereotypes you may hear about Realtors – pushy, just want to sell, etc. She is the real deal. And on top of that, a pleasure to work with."
Alison F.
"Katie’s many years of experience helped us to land our dream house. We had plans to see several houses on a Friday, but we were most interested in a particular house. Katie knew this. When she learned another potential buyer had made an offer, she immediately let us know. We told her we wanted to see the house the next morning to see if we wanted to put an offer on the house as well. She made it happen. She made arrangements with the other Realtor, and we were able to see the house. I fell in love with it. She helped us with the offer using specific strategies. We won the “bidding war” with Katie’s assistance. She also helped us navigate through everything. She was 100% supportive and never pushy. I knew she always had our best interests in mind."
Tammy A.
"Honest, professional, and hardworking are a few of Katie’s many wonderful characteristics. She first helped us purchase a home 11 years ago. When we decided to sell, we asked her to represent us. Katie was amazing. She helped stage the home for a quick sale. She was honest and knowledgeable when it came to pricing. No detail was too small for Katie."
