A Guide to Buying

I have been a career Real Estate Agent since 2013 serving residential and commercial clients.  The majority of my business comes from repeat clients and referrals.  My goal is to make this a great transition for everyone involved and provide an exceptional experience.  I want you to feel comfortable and empowered throughout your entire real estate journey.  My objective is to customize a plan specific to your situation and needs and to help you make the best real estate decisions possible. I’m your resource and am here to help navigate this journey, so please feel free to ask me questions at any time.  I will always have your best interest at heart and with your permission, I will be completely honest when offering my professional expertise.  Our discussions will remain confidential to allow you to be open and honest with me; the more I know and understand, the better I can help you make well-informed decisions regarding the purchase of your home. My focus is on building long-lasting relationships and remaining a resource for my clients to turn to long after the purchase is complete. This includes anything from suggesting home improvement contractors to recommending exceptional restaurants in the area.

I am actively involved in my community and serve on several committees for the Greater Hartford Association of REALTORS® and the CT REALTORS® Association. I am also proud to be a Miracle Agent within RE/MAX. Since 1992, RE/MAX has partnered with Children’s Miracle Network Hospitals. The RE/MAX Miracle Home Program is the cornerstone of that partnership. Agents involved in the program make a donation to their local CMN Hospital in honor of the buyer. Agents like myself, who donate a certain amount in a calendar year receive the recognition of being a Miracle Agent. The best part of this partnership is that 100% of this donation goes directly to the Connecticut Children’s Medical Center in Hartford. I can’t think of a better way to thank you for your business!

I look forward to the opportunity to serve you!

Step 1: Meet with me for a Buyer Consultation to review the home-buying process

• Discuss specific needs and goals, then formulate a plan together.
• Set a target date by which you would like to move into your new home.
• Sign Exclusive Right to Represent; this allows me to professionally represent you throughout the entire process.

My Role as a Real Estate Agent

My main goal is to prepare you to be an educated buyer. Therefore, I will follow these guidelines to make the process as smooth and efficient as possible.

• Communicate with you from the day we start and build a relationship that lasts forever.
• Keep your personal information, and all of our conversations confidential.
• Coordinate all aspects of the transaction from start to finish.
• Give you the most vital and up-to-date information on available homes.
• Keep you aware of changes in the real estate market.
• Disclose all known facts about the properties I show you
• Collect pertinent data on values, taxes, utilities, etc.
• Explain forms, contracts, and procedures.
• Provide you access to MLS so you can receive notifications of homes that match your criteria.
• Help you select homes that fit your needs.
• Perform a market analysis on chosen properties.
• Advise you on making offers.
• Write your purchase agreement to the seller.
• Negotiate on your behalf.
• Treat all parties honestly and fairly.
• Respect your time, needs, and finances.
• Represent your best interests.
• Be on time for all meetings.
• Respond to and resolve all issues in a timely manner.
• Show you only the homes that meet your criteria.
• Provide my professional expertise, honesty, and opinion to help you reach an informed and intelligent decision based on your needs.
• Provide post-closing information & consulting services.
• Assist you with all future real estate needs.
• As your Real Estate Agent, I will always be honest with you and all parties involved. I will provide you with my professional opinions, but ultimately, all final choices will be yours to make.

Your Role as the Buyer

Your main goal as the buyer is to let me help you find a new home. Therefore, please follow these guidelines to make the process as smooth and efficient as possible.

• Always be brutally honest with me.
• Provide preapproval or Proof of Funds before viewing houses.
• Keep all appointments or contact me to cancel or reschedule.
• Be on time for all meetings.
• Follow target dates per contract.
• Don’t make large purchases or incur debt without first consulting with the lender.
• Respond to calls from lenders, attorneys, inspectors, and other ancillary companies involved in the process.
• Make an informed, intelligent offer, promptly after finding an ideal home.
• Don’t discuss terms with sellers or their agents without me present.
• Respect the seller’s property.
• Notify me immediately if your needs or expectations change.
• Honor our exclusive agreement for me to represent you in this process.

Step 2: Get pre-qualified for a mortgage

• I can connect you with one of my preferred mortgage lenders from my established network.
• Determine your price range, estimated cash to close, monthly payment & a plan for house hunting.

Applying for a Mortgage

Before we begin looking at houses, you’ll need to prepare all the necessary materials to present to the lender.  The lender will help us determine the price range we need to be in and the type of loan most suitable.  There are three key factors that you will need to consider:

• The down payment & closing costs associated with the transaction.
• Your ability to qualify for a mortgage.
• Monthly payment (principal/interest/taxes/insurance).

There are many different loan types available, some requiring 0% down.

It is often thought that bigger is better when it comes to down payments.  In some cases, this may be true.  However, this will vary from case to case.  A bigger down payment means potentially smaller monthly payments and lowers interest expenses for as long as you remain with a mortgage.  This can be an important factor for some people.  A smaller down payment, however, may allow you to keep extra cash liquid and available for home renovations, or an emergency.  If you can put your available funds to work for you so that they can earn you more than the interest rate on your loan, you could be dollars ahead with a smaller down payment.

What every buyer should know before purchasing 

• Property taxes and qualified interest may be deductible on an individual’s federal income tax return.
• Often a home is the largest asset an individual has and is considered one of the most valuable investments available.
• A home is one of the few investments that you can enjoy by living in it.

A homeowner can exclude up to $500,000 of taxable capital gain if married and filing jointly, or up to $250,000 if single or filing separately.  The home must have been the taxpayer’s principal residence for 2 of the previous 5 years.  (Verify with your accountant).

Dos and Don'ts During the Mortgage Process

• Be honest with your mortgage lender.
• Avoid ANY financial changes unless discussed with the lender first.
• Always ask the lender before you do anything related to finances, such as buying a car, boat, or motorcycle, going on an expensive vacation, or opening a new credit card.
• Any of the above are generally NOT advised.
• Do keep records of all pay stubs, bank statements, and other important financial documents as you go through this process. If you can keep records prior to beginning this process, that’s even better.
• Do provide your Earnest Money Deposit from your own personal bank account or acceptable gift funds (confirm with a lender).
• Do provide all documentation for the sale of your current home including sales contract, closing HUD statement, employer relocation/buy-out program, etc.
• Do notify your lender if you plan to receive gift funds for closing which are acceptable only if certain criteria are met.
• Do notify your lender of any employment changes such as recent raises, promotions, transfers, or changes of pay status.
• Do be aware that a new credit report may be pulled prior to your closing.
• Don’t change jobs/employers.
• Don’t OPEN or CLOSE any account or transfer funds between accounts without talking with your lender.
• Don’t deposit any monies outside of your automated payroll deposits, particularly large amounts of cash, without notifying your lender first.
• Don’t use advances from credit cards for down payments/closing costs.
• Don’t make any major purchases prior to or while your loan is in process.
• Don’t open or increase any credit card or loan liabilities.
• Don’t apply for new lines of credit during the mortgage process.
• Don’t fall behind on any of your payments.
• Don’t use your credit cards excessively.
• Don’t touch the money you have set aside for the down payment, closing costs, etc.
• Don’t purchase furniture before closing on your new home.
• Don’t change banks or close bank accounts during the mortgage process.
• Don’t co-sign a loan for anyone.

Simply put, DISCUSS everything, especially changes, with your lender!

Step 3: Search For Homes

• Multiple Listing Search Portal (MLS) –This online resource is only accessible through an agent. I will set you up with this customized home search so you can receive updates on applicable properties. This portal is accurate and up-to-date with real-time listings.
• Set up email notifications when something new hits the market.
• Search listings and provide you with suggestions that best suit your needs.
• Drive-by locations for approval.
• Pick your favorites and I’ll set up a showing.

Showings

Once we have pre-qualification/pre-approval/proof of funds, this will give us an idea of the price range we should be looking at and we can begin looking at homes.  I can typically show you any home whether it is listed with an agency, a builder, or even For Sale by the Owner. While we are looking, please understand that a perfect house does not exist.  However, the information, thoughts, and details you share with me, will help us pinpoint the most desirable homes to focus on.

Remember, first we work from location and must-haves on a home. Then we can work with your wish items.

While we are in houses for showings or an open house:

Assume ALL houses have Alexa or Ring devices, nanny cams, etc., and assume ALL are set on audio and/or video recording.  Because of this, try to remain neutral while touring, since the seller can see and hear what you’re saying.

Please do:

• Drive by the property before a scheduled showing.
• Open closets, doors, and cabinets while touring.
• Allow me to point out any potential concerns with the house.
• Try to envision yourself there.
• Ask any questions.

Please don’t:

• Look for a home before obtaining a mortgage pre-approval.
• Have unrealistic expectations.
• Take any photos or videos of the exterior or interior of the properties.
• Focus on decorations – these leave with the seller.
• Touch people’s personal items (we are only concerned with what’s staying).
• Speak negatively while viewing a property (you can express concerns, but remain non-judgmental).
• Give away negotiating power by speaking about financial details while inside the house.
• Post details about your house search or purchase plans, on social media.
• Hesitate on making an offer if it’s a house you like.

Step 4: Offers

• Once we find your ideal home, we will strategize and present a competitive offer.
• In a competitive market, we may need to move quickly on some properties, but I am here to guide you every step of the way.
• I will provide options to strengthen your offer and ensure it stands out.
• With my extensive experience in contract negotiations, I will ensure you get the best terms possible.
• Sometimes you may only get one chance to make an offer, so let me work to assist you in making the best one right off the bat.

Making an Offer

• Contact the lender to get figures for this specific home (monthly payment, cash to close, etc.).
• I will provide a current market analysis for you and will show you the price range of the property.
• Factors that could affect the price:
• Condition of home.
• New home improvements.
• Market conditions.
• Seller’s motivation.
• When you are thinking about the offer, put yourself in the seller’s shoes.
• Imagine how the seller may react to what we submit.
• We will review all options in order to set your offer apart and make it a great one.
• If your offer is accepted, you will be required to make a first deposit called Earnest money (a deposit that goes towards your down payment) to show the seller that you are serious about buying the home. 
• I will give you guidance on how much to put down.
• This deposit is potentially refundable.
• Even if you are preapproved, the lender will still need time to get the appraisal done, order the title, etc.
• Disclosures.
• Review all seller disclosures.
• Federal law requires the seller to disclose all material defects that they are aware of. However, sometimes things are overlooked (the seller isn’t aware of an issue, or they think it’s a non-issue that doesn’t need disclosing.
• We can ask the seller for additional clarification or information when reviewing disclosures.
• Home inspection.
• It is necessary to do your due diligence to establish the home’s assets and liabilities.
• Don’t skip this - It’s money well spent in the long run. 
• If the home has major issues, you’ll want to know before buying it, not afterward when the home becomes yours.
• Multiple Offers.
• It doesn’t have to be a “HOT” market for a seller to have the luxury of choosing between multiple offers.
• If you find yourself in a multiple-offer situation, don’t panic, and don’t withdraw your offer - you could be the best offer on the table.

Step 5: Accepted offer

• Once all offer terms are agreed upon, everyone signs and we go “under contract”
• 1st deposit is due immediately.
• I will ensure every detail is handled accurately and timely for a smooth transition.
• Closing timelines may vary but typically range within 14-45 days of the accepted offer.

Step 6: CONTINGENCIES

• Legal counsel to handle title work and represent you in the closing.
• I will schedule inspections.
• Appraisal is done (if applicable).
• Mortgage commitment letter from lender with no conditions.
• Review condominium/association documents (if applicable).

Buyer Anticipated Cost

(A certified bank check will typically be required for these costs)

Prorated to the closing date 
Taxes, oil/propane, sewer & water, HOA Fees.

Per Closing Disclosure 
Attorney fees, loan fees, points, appraisal, homeowners, and recording fees.

House Hunting Tips

• Know what qualities and attributes are most important.
• Location & layout are typically the two most important criteria.
• Pay attention to floor plans – changing the layouts of rooms can be costly.
• Be clear on your must-haves.
• Think about what “nice to have” features you’d like.
• Know that you’ll have to make compromises and/or concessions.
• Be flexible on things that are less important.
• If you have to resell soon, do not buy an unusual home.
• Don’t be swayed by decorating (the furnishings go with the seller).
• Imagine the home vacant.
• Renovations to kitchens and bathrooms can be expensive.
• Measure areas to make sure your furniture will fit.
• Pay attention to the original listing date of the properties – sellers tend to be more flexible the longer the home is on the market.
• Homes sometimes go for thousands or 10’s thousands of dollars over the asking price.
• You are almost always better off with the least expensive home in the area rather than the most expensive.
• Be ready to make an offer quickly when you find a home that you want.

Step 7: Closing

• Schedule Movers.
• Set up utilities. (electricity/gas/oil/cable/internet/propane) 72 hours prior to the closing date.
• Walk-through prior to closing.
• Bring funds in the form of a bank/cashier’s check & identification to closing.
• Once complete & attorneys say it’s official, you get the keys.

Contract to Close

• Signed Contract & Earnest Check
  • Your first deposit should be delivered right away – often, a bank check is required.
  • I will tell you the amount to write, who the check is payable to, and where to deliver the check.
  • Once the check is delivered, we are considered “under contract,” and no one else can come and take the house.
  • All target dates, especially closing dates, may change; possibly multiple times.

I will coordinate the next steps and keep everyone in the loop moving forward. You may have a lot of questions at this point, and that’s okay. Feel free to ask them. Also, don’t be surprised if you feel nervous, anxious, or even overwhelmed. It happens to many clients. But don’t worry, because you are in good hands. I have been through this many times and will be there for you during the entire process. The lender, inspectors, attorneys, and the seller’s Real Estate Agent will all be performing their necessary duties during this time as well.

• Contingencies           

• • Inspections - An inspection is intended to provide you with information on major damage or serious problems that require repair for the well-being of the home and its occupants. Common types of inspections are home, mold, radon, well, septic, foundation, etc.

• • • When purchasing a property, I always recommend having a professional thoroughly inspect it.
    • We have a specific time frame to complete the inspections, per the contract.
    • As your agent, I can recommend several professional home inspectors for you to consider.
    • I also recommend being present at the inspection – I will be there too.
    • As the inspector does the work, you are allowed to follow him/her around.
      • You can get to know the home.
      • You can learn about tips for maintenance.
      • You can ask as many questions as you like.
      • You will see the home through the eyes of an objective third party.

• • A good home inspector knows how the home’s many systems and components work together and will be familiar with the latest construction materials, home-building techniques, and professional equipment.
  • The Inspector will report on the general condition of the home’s electrical, heating, and air systems, interior plumbing, roof, visible insulation, walls, ceilings, floors, windows, doors, foundation, and visible structure.
  • All inspections are at the buyer’s expense (budget up to $2,000) and can take up to 4 hours to complete.
  • Should serious problems be indicated, the inspector will likely recommend that a structural engineer or other professional inspect it as well.
  • Maintenance items are not the focus of the inspection A home can’t “pass or fail” an inspection.
  • If necessary, your agent and your attorney will work together to negotiate the terms for a potential major repair found during the home inspection.
  • The seller may be willing to negotiate the completion of repairs or a credit for the completion of repairs.
  • It is very seldom that we cannot get to a place where both the seller and the buyer are comfortable.
  • If we are unable to come to an agreement, the buyer reserves the right to terminate the agreement as long as we are within our home inspection due diligence time period.

• Financing

• • Continue working with your lender to satisfy all of their requests - the quicker you can get the proper documentation (updated bank statements, pay stubs, etc.) to the lender, the smoother the process will go.
  • A VOE (verification of employment) will need to be completed to confirm that you are still gainfully employed.
  • The appraiser will be sent out on behalf of the lender to verify the home value.
  • As part of the mortgage process, you will need to obtain homeowner’s insurance.
  • Title work to confirm no in the title.

• Closing Time

• • The closing date is a target date – it is not set in stone and might not be confirmed until the day before or the day of.
  • The closing takes place at the attorney’s office and takes about an hour.
  • Typically, I will schedule the final walk-through just prior to closing.
  • The attorney or lender will notify you of the dollar amount to bring to closing.
  • You will get a notification of this amount just a few days/hours prior to closing.
  • You will need to bring a bank check or set up a wire – Wire fraud is real - Please confirm with me before wiring anything!
  • Closing documents get signed.
  • The attorney gives the go-ahead and you receive the keys.
  • You can now access the property on your own.
  • Relax and enjoy the experience.
  • Cheers!  You purchased a home!

Enlisting my services is similar to hiring any other professional to help you in their specific area of expertise, such as an accountant to help you with your taxes, a doctor to help you with your health care, or a mechanic to help you with your car.   I have devoted many years to researching, learning about, and working in the real estate industry. My vast knowledge and experience are what will help me find the perfect home for you quickly.  Although I assist you in becoming an educated buyer, it is my job to take care of the hassles, so you don’t have to. I guide you through the home-buying process and exclusively represent your interests as I help you find a home, present your purchase offer, put contract terms and conditions together, and negotiate for you. I get you to the closing table as smoothly and quickly as possible, so you can get your keys and enjoy your new home. My main goal is to make this a smooth, informative, and exciting process.

With me, you have a professional working hard to find and secure the ideal home for you. You won’t need to spend endless amounts of time driving around looking for homes for sale or trying to search online yourself.  When you tour homes with me, you already know that the homes meet your criteria and are within your price range.

Just as your accountant, doctor and mechanic get to know your needs through a steady relationship, I will get to know your real estate needs and concerns.  This type of relationship is built by open communication at all times and touring homes together. This way I can get your feedback and hear your concerns about each home.  

When you sign the Buyer’s Agency Agreement you are simply agreeing to “hire” me as a personal representative who by law must represent your best interests to the best of my ability.  The Seller’s Agent is typically responsible for compensating the Buyer’s Agent.  By choosing me as your agent, you will get a professional who is devoted to protecting your needs and helping you make one of the most important investment decisions of your life.