Table of Contents

one

Choosing

Your Agent. Who am I?

two

The Home Buying Process

three

The Mortgage Process

six

Schedule Showings

seven

Writing

Your Offer

eight

You’re Under Contract

four

Determine Wants vs. Needs

five

The Home Search Process

nine

Inspections & Insurance

ten

It’s Closing Time!

part two

Glossary

Choosing the real estate agent that you’ll work alongside to buy your home is not a decision to take lightly.

Your agent should have a deep understanding of your goals, your market, and a track record for working diligently on ​behalf of you, their client.

Credentials, of course, are a plus- but what you can’t see behind the numbers are the intangibles of always going the ​extra mile and genuinely caring deeply for clients.

I look forward to the opportunity of representing you and sharing this life milestone with you and your family.

My name is Megan Denson and I am honored to be working with you! Buying a home is one of the biggest decisions you will make and I’m going to be here with you every step of the way to make sure that you are comfortable, taken care of, and that your home-buying experience is as easy and fun as it can be! I was born and raised in Vero Beach, FL and now live and specialize in the Northeast Florida market. I have lived in Jacksonville for the last 7 years and love everything about this city. I am currently a Jax Beach resident and enjoy spending my free time working out, surfing, and finding different ways to be creative.

I studied Marketing and Construction management at the University of North Florida and have combined my love for helping people, the real estate environment, and mathematics into my career.

I’m looking forward to getting to know you and what your goals are!

My Fees:

• $295 brokerage transaction fee paid at closing (paid to brokerage for compliance and filing)
• My minimum commission fee is 3%. We can discuss how to negotiate the difference.
  

Welcome to the exciting journey of finding your dream home! As your dedicated real estate agent, I am thrilled to guide you through every step of the home buying process.

This comprehensive guide was meticulously crafted to provide you with a detailed overview of what to expect on this adventure.

From demystifying the mortgage process to assisting you with a lender questionnaire, offering a handy showing checklist, explaining the intricacies of going under contract, navigating the inspection period, and finally, preparing you for the closing process – I’ve got you covered.

I am committed to ensuring that each step in this process is smooth, transparent, and tailored to your unique needs.

Let’t talk finances

The first step of the home buying process is to understand how much you qualify for by meeting with a local lender and getting a pre-approval letter.

A pre-approval is only valid for 30-90 days. I recommend having a conversation with a lender and finding the range you would qualify for so we know what price range to start looking into at a monthly payment you are comfortable with.

In the next section, I outline several questions to ask your lender to ensure they provide a full picture into the terms and conditions of your loan.

Understanding the ins-and-outs of the loan they offer is critical to ensuring long-term success in your new home!

My lender's contact info is:

Chandler Perrer

850-341-3923

chandlerperrer@fibermortgage.com

Submit loan docs here: https://fibermortgage.my1003app.com/2118590/register

I always recommend asking for a seller credit over a major price reduction, as these options will impact your monthly payment more significantly than a $10,000 - $30,000 price reduction over the course of 30 years.

Get clear on non-negotiables

Before we hop into the home search, I like to advise my clients to create a "Needs" list and a "Wants" list. This will help us to really focus on the things that are most important in your future home. Needs are the non-negotiable. Wants are the ones you’d like to have, but you can add or change down the road. Remember you can’t change the lot, the location, or the price you paid.

Needs might look like

✓ Enough bedrooms for your family

✓ First floor master bedroom

✓ Close proximity to work or school

✓ Yard for children or pets

wants might look like

✓ Specific paint or exterior color

✓ Fenced-in backyard

✓ Specific flooring

✓ Walk-in shower or double vanity

Now that you’ve got your wants vs. needs list in hand, the fun really begins! It’s time to start looking at listings online and choosing which houses to see in person. Keep this in mind:

Finding “the one”

Use the search filters, but don’t go crazy.

You don’t want to restrict your search so tightly that you only have a handful of homes to view.

Add $25k-$50k to your max price. There is sometimes wiggle room with negotiations.

Check out the Google street view. Online pictures can be deceiving so a virtual ‘walk down the street’ will give you a sense of the house and surrounding area.

Jot down the MLS number & address.

Send your list to me and I will call the listing agents to gather pertinent info.

Look for some time in your calendar to tour the homes on your shortlist. Hold more time than you think you’ll need.

You’re SO READY to get inside those homes on your shortlist and see for yourself if one of them is soon-to-be your new address. Below are a few things to keep in mind.

Get ready for the fun part

Read over your wants vs. needs list and revisit your budget. Having this fresh on your mind will help you stay objective and focused.

Take pictures and videos to jog your memory later.

Consider the lot, lot size, and location, all of these things cannot be changed.

Look for signs of structural integrity. Water damage, cracks in walls or ceilings, sloping floors, and other potential issues.

Pay attention to noise levels from nearby roads, airports and railways.

Examine the roof for leaks, missing shingles, or other damage. Inspect siding, windows, doors, and the overall exterior condition.

Consider layout & space. Does the property's layout suit your lifestyle? Check room sizes, storage space, and the flow between rooms.

Look past decor & staging. These things will soon be gone!

Consider the potential resale value by checking the historical appreciation rates.

So you think you’ve found “the one” and you’re ready to put in an offer—one that will be simply irresistible to sellers. Let's talk about making an offer that truly stands out. Below are my tried and tested recommendations.

Let’s make it stand out

Include a pre-approval letter that shows that you’re serious, qualified, and ready to purchase.

Lean on a trusted agent who can help you compose an offer that gives you every advantage in landing the home!

Put your best foot—and price—forward. You may only get one shot, so make it count. Lean on your agent and use comps as a guide.

Use a friendly tone.

Let the sellers know you want their home—and that you’ll be easy to work with all the way to closing.

Propose to close quickly. Include contingencies only if you must. If you need to sell your current home before purchasing, disclose it here.

Include a short hand-written note. Sometimes it’s the smallest gestures that have the most significant impact.

You’re well on your way to your new home sweet home. Here's a quick rundown on what happens after you make an offer and your new home is “under contract.”

Cue the confetti!

Provide an Earnest Money Deposit – This is a good faith deposit to show your commitment to buying the property. This deposit is typically held in an escrow account until the closing.

Schedule Home Inspection – Depending on the results, you may negotiate with the seller for repairs or credits. Schedule this ASAP! The Repair request period starts when the repair request is submitted we will have 7 days to negotiate with the seller.

Order Appraisal – Your lender will initiate this. If the appraisal is lower than the agreed-upon price, negotiations or additional funds may be required.

Finalize the Loan – You'll provide documents and go through underwriting with your lender.

Title Search – A title company will conduct a title search to ensure there are no liens or legal issues with the property’s ownership.

Final walk-through – Shortly before the closing date, you'll have the opportunity to do a final walk-through of the property to ensure it's in the agreed-upon condition.

The inspection will uncover any issues in the home that would have otherwise been unknown. You will receive a written report of the inspection.

Make sure you’re covered

What is the "inspection period"? Inspection periods typically last 7 to 10 days. If the results of the report reveal any issues, you may ask the seller to cover the costs or reduce the sale price or submit a repair request

The home seems fine, do I really need a home inspection? The home may appear to be in perfect shape, but some of the costliest problems are difficult to spot: leaks, termite damage, foundation issues, poor ventilation, faulty wiring, and drippy appliances.

When should I schedule the inspection? Schedule your inspections immediately after your initial offer is accepted. If we need to negotiate any repairs we can before the inspection period ends.

What about home insurance? Once you have a signed contract, start looking for insurance providers. Your lender will typically require evidence of insurance coverage before they approve your mortgage.

Average Cost

Standard:

General Home inspection

The standard home inspector's report will cover the condition of the home's heating system; central air conditioning system; interior plumbing and electrical systems; the roof, attic and visible insulations; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.

Starting $450

Four-Point/Wind mitigation

(insurance)

The Four-Point Inspection examines 4 main things: Electrical, HVAC, Roof & Structure, and Plumbing. The Four-Point will most likely be required by your homeowner's insurance if the home is more than 30 years old.

Starting $150

WDO

The WDO Inspection is the Wood-Destroying Organism Inspection. Ask your lender if your loan requires any certain inspections such as a WDO inspection.

Starting $250

Additional home inspections that may be reccomended depending on property

Pool Inspection: ......................................................................... Starting @$300

Well lnspection: ......................................................................... Starting @$300

Septic Inspection: ...................................................................... Starting @$400

Mold Inspection: ........................................................................ Starting @$300

Sewer Scope Inspection: ............................................................Starting @$400

Not all inspections are required or applicable to every property.

The standard homeowners insurance covers financial protection against loss due to disasters, theft and accidents.

Hazard insurance protects against

damage caused by fires, severe storms,

hail/sleet, or other natural events.

HOMEOWNERS

HAZARD

Flood insurance protects against damage caused by a flood.

FLOOD

Wind insurance protects against damage caused by tornadoes, hurricanes, or gales.

WINDSTORM

You've received the magic phrase "clear-to-close" and we've scheduled our closing day. Here's what to expect from the closing process:

Alexa: play ‘My House’ by Flo Rida

First, schedule the final walk-through to confirm the seller made the repairs that were agreed upon. The walk through also ensures no new problems have occurred while under contract. We will typically schedule the walk through right before closing.

What happens at closing day? Sign all necessary documents, pay remaining closing costs and the down payment. The title is officially transferred to you, and keys are exchanged.

What should I bring? A photo ID. I will share any other documents specific to your situation. Be prepared for A LOT of paperwork.

Funding– Once all documents are signed and funds are transferred. The funds should be transferred the day before closing or the morning of. The closing company will provide you with wiring instructions and the final balance due detailed in the final closing statement.

Get a hold of those keys and celebrate!

We made it to the finish line!

part Two

Glossary

Appraisal:

Contingent:

Deed:

Escalation

Clause:

Escrow:

Home

Warranty:

HOA Fee:

The estimation of a home's current value done for the lender by an official appraiser.

Title:

A title gives the person the right to, or ownership of, a certain piece of real estate property.

Means "depending on certain circumstances." In real estate, when a house is listed as

contingent, it means that an offer has been made and accepted, but before the deal is

complete, some additional criteria must be met.

This is a legal document that transfers the property ownership from one person to another.

The deed to a home is also known as a title and is the written proof of who owns it.

Walkthrough:

A final walkthrough confirms that no damage has been done to the home since the time of

inspection, that the major systems and appliances are in working working order, all

appliances and/or items that were in the purchase and sale agreement are present

in/outside of the home, and any inspection items have been addressed (if applicable).

A clause in a real estate contract that lets homebuyers increase their offer by a predetermined

amount over other offers in the case the seller receives another offer at a higher price point.

Escalation clasues are typically reserved for when a buyer is confident there will be multiple

offers.

Deposit for the home purchase held by a 3rd party (NOT the seller or buyer), typically the

closing company or an attorney.

A contract covering repairs and replacements on systems and appliances in home.

Monthly maintenance fee paid by homeowners to an association in their community to go

towards costs such as, but not limited to, water/sewer, property maintenance, electricity,

community

Lease-back:

Also known as a rent-back, when the buyer leases the property back to the seller after closing

for a period of time, offering the seller to remain in the home as the "tenant". The buyer and

seller will negotiate the length of time as well as a lease amount to be paid to the buyer.

Lien:

Multiple

Listing Service:

Placed on a home when it is being held as collateral until a certain debt is paid.

MLS is a service (local or regional) that gathers real estate listings - homes that are for

sale. It is accessed by brokers and real estate agents

Pre-approval:

Preliminary approval from a bank or other lending institution for the potential of a

home mortgage. This doesn't mean guarantee.

Glossary

11