A Simple Guide to Finding the Perfect Place to Call Home
“The ache for home lives in all of us,
the safe place
where we can go as we are and not be questioned.”
“Buying a home is one of the most important investments you can make. You can always count on our team to assist every step of the way. Our mission is to make moving a seamless process. We will ensure your experience is personalized for your wants and needs. Welcome Home.” - John Winkelkotter
John Winkelkotter
Professional Real Estate Advisor
407.969.9919 John@stockworth.com
Table of Contents Lifestyle Questionnaire Team Approach ......................... 5 The Buying Process .................. 6-7 Shopping for a Lender ............... 8 Getting Pre-Qualified ................. 9 Required Loan Documentation ......................... 10 Loan Process ............................... 11 Showings/Writing a Contract ................................. 13 Contract to Close ..................... 14 Moving Checklist ....................... 15
The Stockworth Team EXPERIENCE THE DIFFERENCE Stockworth advocates for our clients and guides them through real estate transactions with extraordinary service, uncomprimising ethics, and exceptional knowledge. Our group of outstanding agent and support team have a strong commitment to service, integrity, and professionalism. We build lifetime relationships by providing unparalleled experiences for our clients.
Jason Schmidt, CCIM President, Broker
Mark Hayes, CCIM Owner
Melissa Koepplinger Director of Relocation
Jodi Hayes Land Planning/Entitlements
Jared Eslick Creative Director
Sara Presser Social Media Manager
Michele Ronsisvalle Media
Lauren Cardenas Producer
Guilherme Lessa Cinematographer
Let’s Find Your Dream Home What we will do to help you through the home buying process... • We will work with you through the mortgage pre-approved process. Sellers and their agents know that a pre-approved buyer is serious and prepared to close. • Provide immediate access to any new listing that meets your search criteria. • Provide a comprehensive market valuation of all properties you choose to make an offer on. • Offer step by step communication of all processes leading to the transaction closing. • Provide consultation and recommendations of the written offer to purchase, with terms approved by you. • Negotiate the right deal for you.
No matter where you find homes that attract your attention... • In a local real estate magazine • Via the Internet • Other agents FOR SALE sign • Other agents OPEN HOUSE • From a friend • A “For Sale by Owner” sign • Other agents exclusive listing
I can sell any of them to you! Most importantly, I can negotiate any offer for you. If you see a sign, an open house, or even hear about a property, call me first and I will provide you with all of the necessary property information and make all the arrangements for viewing.
Shopping for a Lender A very important part of purchasing a home is finding the right lender. Below are some characteristics you should look for when choosing a lender. Questions to ask while shopping for your lender • What is his/her reputation within the community? • How many loans do they close each year? • Is the company well known in the area? • How long has the company been in business? • Does the lender have access to a wide variety of loan packages? • Can the interest rates be locked in and for how long? • Does the lender offer your loan product (FHA, VA, Specialty, etc.)
Things to be aware of when shopping for a lender… Quoted rates over the phone are rarely locked prices. Rates can be subjected to change unless they are predetermined for a specific period of time. Interest rates can change daily. A quote you receive today may not be the quote you receive tomorrow. The interest rate you are quoted over the phone may not be a program that will fit your needs or situation. Many lenders will discount their posted rates for well qualified customers.
Getting Pre-Qualified It is recommend that home buyers are pre-qualified with a lender before selecting a home to purchase. This way you will be ready, willing and able to make an offer on your desired home. Reasons to get pre-qualified… With pre-qualification, you can determine which loan program best fits your need and which programs you qualify for. You will know exactly how much you are qualified for. It’s no fun to find your ideal home and then realize that you can’t afford it. Your monthly payment will be estimated. This will allow you to begin outlining your budget. It estimates what your down payment and closing costs will be. If you are a first-time buyer, you may be able to qualify for a special firsttime buyer program.
Required Loan Documentation • Photo ID • Social Security Number • Date of Birth • Home addresses lived at as a primary residence for the past two years • Addresses for any rental properties including mortgage statements and home owners association bill • Work address, phone numbers and employment position for the past two years • Checking and savings account statements for the past two months (6 months for child support/alimony) • 401K/IRA statement last quarter • Four most recent pay stubs. If you have received a recent raise please let the lender know • Federal income tax returns for the past two years for both personal and business (if applicable) • Divorce settlement papers if receiving child support, alimony, or if ex-spouse pays a debt • Gift letters if you are using gifts from parents, relatives or organizations to help cover the purchase costs • Social Security/Disability Award Letter • Pension Letter from Employer • Home Owners Insurance binder when a contract for purchase is fully executed
Stepping Through the Loan Process Pre-qualification / Interview
Application interview Lender obtains all pertinent documentation
Order Documents
Credit report, appraisal on property, verification of employment
Loan Submission
The loan package is assembled and submitted to the underwriter for approval
Documentation
Supporting documents arrive Lender verifies all information is correct Request for any additional items are made
Loan Approval
Parties are notified of approval
Documents Are Drawn
Loan documents are completed & sent to the closing agent Borrowers are prepared for final signatures
Funding
Lender reviews the loan package Funds are transferred by wire
“If you’re not
having fun
then “If you’re notyou’re
having fun
doing it wrong.”
then you’re doing it wrong.”
EXPERIENCE THE DIFFERENCE
Showings • Many homeowners prefer 24 hours notice prior to showings • No more than 5 properties in 1 day
Writing a Contract • Understanding contract options • Confirming financing options • Understanding your deposit requirements • Understanding inspection rights • Establish closing timeline
Contract to Close Checklist Day 1
Starts the day after an executed contract is delivered
Day 3
Deposit due
Inspection
Inspection period ____ days Schedule Inspection
Appraisal
Your lender will order appraisal
Homeowners Insurance Shop for your coverage
Closing
Go over closing statement and wire funds Schedule closing time/place Schedule final walk through
Moving Checklist Send Change of Address Cards to Post Office Charge Accounts Subscriptions Friends / Relatives Bank Other loan holders
Disconnect/Reconnect Utilities Water Electric Gas Telephone Cable Television Other
Cancel Deliveries Newspaper Other
Miscellaneous
Arrangements with moving company Obtain school records for children Have drug prescriptions refilled
Notify Insurance Companies Health Life Auto Homeowners (if applicable)
Obtain Medical Records General Practitioner Dentist Optometrist Other doctors
EXPERIENCE THE DIFFERENCE