Buyer Presentation

Thanks for coming to view my buyer presentation. When we meet, I will detail the examples of how I have helped others find a home, negotiate for them, and buy a property.

Below are the steps in this presentation. At the top of each section there is are arrows to jump to the previous or next section.
Advantages of using a Real Estate Agent
  • Help you find a good lender/loan officer
  • Help determine the house (Location, size, type)
  • Arrange appointments
  • Assist in evaluating the property
  • Help negotiate and close the deal
Agent tools of the trade
  • Multiple Listing Service (MLS) property database available to agents
  • Comparative Market Analysis
    • Data on recently sold properties
    • Helpful when determining the offer
  • Worksheets and checklists
    • Help define your closing costs
    • Keep the entire process on track
Role of the Real Estate Agent
  • Relationships as well as advantages & disadvantages of each
    • Seller's agent / listing agent
    • Buyer's agent
    • Dual agent
    • Designated representation
    • No agent representation
  • Ask how Real Estate Agent is paid
    • Fee for service
    • Commission
      • Percentage of the sales price
      • Paid by the seller (MLS and other)
    • Buyer Broker Agreement
      • Outlines the duties and responsibilities of both the buyer and agent
Benefits of an exclusive Buyer Agreement
  • Total commitment to the Buyer
  • Maximum effort on their behalf
  • Exposure to the entire market
  • Privacy, disclosure and loyalty
  • Track record of successful negotiations
  • Strongest possible protection of the Buyer's interests
  • Mortgage financing
  • Buyers will save money since your agent will be fighting to protect their interest
Why use Miguel
  • Will keep your best interests first and keep you safe
  • Thru advanced studies and experience, achieved most prestigious designations:
    CRS - Certified Residential Specialist
    ABR - Accredited Buyer Representative
    CIPS - Certified International Property Specialist
    SRES - Senior Real Estate Specialist
    GRI - Graduate of the Realtor Institute
    ePro - internet and tech savvy
    Prior to real estate was a corporate executive with a successful 23 year career.
  • Full-time agent ensures smooth and successful transaction
  • Integrity to earn your trust & help you make sound decisions
  • An objective advisor for every step of your transaction
  • An effective and skilled negotiator to get you the best price
Professional Services Provided
  • Explanation of agency relationships
  • Explanation of transaction costs
  • Explanation of my role as your Realtor
  • Explanation of commissions
  • Assistance with mortgage pre-approval
  • Effective Listening to your needs, wants and desires
  • Email listings of homes as needed
  • Contract negotiations - see what other buyers have paid for similar homes & trends
  • Attendance at your home inspection (perspective)
  • Contingency removals
  • Scheduling settlement
  • Attend pre-settlement walk-thru inspection
  • Attendance at closing
The Buying Process
  1. Discuss Buyer Agency
  2. Determine needs & desires
  3. Determine purchasing power
  4. Mortgage pre-qualified
  5. Preview homes
  6. Make an offer to purchase with settlement agent decided
  7. Contingencies - home inspection, financing, & others
  1. Contract acceptance
  2. Apply for financing & insurance
  3. Conduct home & pest inspections
  4. Contact utility companies
  5. Pre-settlement inspection
  6. Settlement
  7. Moving Day
Pre-approval amount & budget
  • Gives you the equivalent of being a cash buyer
  • Lets your agent know that you are serious about purchasing
  • Proof that any financial issues determined by your lender have been resolved, which places you at a better negotiating position
  • One less contingency that you will have in your contract
  • It eliminates doubt in YOUR mind about the solidity of your financial ability to purchase
  • Lets you know exactly your price range
  • Gives your lender the ability to confirm with the seller's agent that you are fully approved without conditions
  • There may be a difference between what you will get approved for and what you feel you can afford.
  • You will have to determine what is comfortable for you as far as a sales price and total monthly payment.
  • Keep in mind that the monthly payment includes principal, interest, taxes, and insurance (PITI). Association fees will be added as well. You should also consider ongoing maintenance.
  • Lastly, you will need to consider where you are in your income lifecycle. This is especially important if you expect your income to continue to rise, remain flat or decline.
Shop & Compare
  • When viewing properties
    • Stay organized
    • Take notes
    • Ask questions
  • Make sure to Visually inspect each property
    • Moss / mildew / mold
    • Water damage
    • Condition of the roof
    • Odd odors
    • Signs of insects
    • Windows open, close and lock
Offer to buy
  • Items to consider when making the purchase offer
    • Length of time property has been for sale
    • Condition of the property and any needed repairs
    • Pre approval amount
    • Contingencies
      • Financing & Appraisal
      • Satisfactory home inspection & repairs
    • Homeowners warranty
    • Earnest money deposit
  • Should limit only to pertinent contingencies
  • Will be accompanied by your lender's Loan Approval or Commitment Letter
  • Will be signed and initialed by you
  • Will be delivered to the seller's agent as quickly as possible
Offer process & POA disclosures
  • Once your agent delivers the purchase offer, the seller has three options:
    • Accept the offer
    • Reject the offer
    • Make a counter offer
  • Once all parties have agreed and signed, you have a Ratified Contract, which is a legally binding agreement
  • If you are purchasing a condo or a home within a homeowners association, you will receive a disclosure packet prior to settlement.
    • This will outline the rules and regulations within the community, the financial status of the association, and will contain points of contact should you have additional questions.
    • It is your responsibility to review these documents to help you obtain information about your new community and how it is governed.
    • You will have a few days to review the disclosures, and either rescind the contract in writing, or by default continue.
Home Inspection & Negotiation
  • You should definitely have a home inspection. The purpose is to make you aware of any defects that may exist before you settle on your new home. If your contract is contingent on a home inspection and you find defects, the following options are available to you:
    • the seller will remedy all of the items noted
    • the seller will extend you a monetary closing cost
      • credit in lieu of the repairs
    • the seller will choose not to remedy any defect, in
      • which case you can void your contract, or you can
      • proceed having full knowledge of the home's condition
    • Use the home inspection to inform you of possible defects only. Cosmetic issues are not a consideration at this time. These things you can change at your leisure to suit your tastes. Major items of concern are:
      • Foundation, roof, and overall structural integrity
      • Electrical & mechanical operation
  • Discuss these major items with your inspector to help you determine how you should proceed with your contract.
Walk-thru inspection & Settlement Day
  • This is conducted prior to closing. The purpose is to make sure that the home is in substantially the same condition as when the contract was written, and to make sure that all agreed home inspection items have been corrected.
  • At closing, ownership is transferred, monies are collected, and keys may be delivered. The settlement agent will ensure that all of the terms of the contract have been met. Also, the agent will review your loan documents with you. Any walk-thru issues will be remedied by the seller, or negotiated.