Century 21 Casa Real Latino

Welcome to the Home Buyer’s Seminar

“How to Buy or Sell Your Home…”
 STEPS TO BUYING
YOUR FIRST HOME
AGENCY RELATIONSHIP
PRE-QUALIFICATION OF THE BUYER
LOOKING FOR YOUR FUTURE HOME
OFFER AND BEGINNING OF THE CONTRACT
OFFER ACCEPTANCE AND ATTORNEY REVIEW
APPLICATION FOR THE LOAN
PROPERTY INSPECTION
APPROVAL OF THE LOAN(COMMITMENT)
TRANSFER OF TITLE
 BUYING & SELLING
AGENCY RELATIONSHIP

BUYER’S AGENT

SELLER’S AGENT

DUAL AGENT

TRANSACTION BROKER
 LOOKING FOR YOUR FUTURE HOME

BUYER’S AGENT FINDS LISTINGS

THROUGH
MULTIPLE LISTING :
(GSMLS & NJMLS)
INTERNET
SIGNS (MAGAZINES AND NEWSPAPERS)
OTHER REAL ESTATE LISTINGS
OPEN HOUSES

INFORM THE OTHER AGENT YOU ARE WORKING WITH

DENNIS SANCHEZ FROM CASA REAL
MAKE SURE WHOEVER IS PURCHASING THE HOME IS
PRESENT.

SPEND TIME ON THE COMPUTER WITH CLIENTS.

NARROW SEARCH DOWN.

SPREAD THE SHOWING TO 3 OR 4 APPOINTMENTS.

(Choose one)

REQUIRE THEM TO BRING THEIR CHECK BOOK.

MAKE SURE THAT ANYONE ELSE WHO NEEDS TO HELP

MAKE THE DECISIONS WILL BE PRESENT.

PLAN YOUR SCHEDULE WITH THEM IN ADVANCE. AT LEASE

3 HOUSES PER APPOINTMENT.
 OFFER & BEGINNING
OF THE CONTRACT
IN WRITING
GOOD FAITH DEPOSIT
LEAD DISCLOSURE
OPINION-26
AGENCY REPRESENTATION
CARBON MONOXIDE & SMOKE
DETECTOR INSPECTIONS
COUNTER-OFFER AND ACCEPTANCE
ATTORNEY REVIEW
 OFFER ACCEPTANCE &
ATTORNEY REVIEW
DELIVERY OF THE FULLY EXECUTED CONTRACT TO ATTORNEYS.

3 DAYS OF ATTORNEY REVIEW

TIME COULD BE EXTENDED

ANY CHANGES TO THE CONTRACT COULD BE DONE DURING THIS

PERIOD

AFTER ATT. REV. NO MORE OFFERS CAN BE ACCEPTED AND

IMMEDIATELY REQUEST THE 2ND DEPOSIT.
 MORTGAGE APPLICATION

DOCUMENTATION NEEDED:

W-2 (TWO YEARS)

LAST THREE PAY STUBS
LAST TWO BANK STATEMENTS
COPY OF DRIVER LICENSE & S.S. CARD
FILL OUT MORTGAGE APPLICATIONS &
DISCLOSURES
APPRAISAL
 HOME INSPECTION

HIRE A HOME INSPECTOR

Termite Inspector
Houses are sold in “AS IS” conditions
INSPECTIONS SELLER IS RESPONSIBLE FOR:
Lead (Paterson)
Fire Inspections & Certificate of Occupancy
 LOAN APPROVAL &
TRANSFER OF TITLE
SIGNING OF GOOD FAITH ESTIMATE
PROPERTY SURVEY
TITLE SEARCH (BUYER AND SELLER)
FINAL WALK THROUGH
BUYER’S ATTORNEY’S OFFICE
TRANSFER OF MONIES
THE KEYS FOR YOUR HOME.
 $250,000
DOWN PAYMENT $ 7,500.00 LOAN AMOUNT $242,500

30 YEARS NO POINTS 30 YEARS

6.5 INT. VS. 6.25 INT. (BUYING W/POINTS)
BUYING POINTS
$4,800 TAXES $4,800 TAXES

P+I_ $ 1,614.76 P+I_ $ 1,493.11

TAXES $ 400.00 TAXES $ 400.00
P.M.I $ 101.00 P.M.I $ 101.00
HOME INS $ 81.00 HOME INS $ 81.00
________ ________
$ 2,196.00 $ 2,075.11
MONTHLY INCOME - $ 1,100.00 MONTHLY INCOME - $ 1,100.00
________ ________
$ 1,096.00 THE DIFFERENCE $ 975.11

$120.89
 Buyer’s Approximate
“out of pocket” expense (cash)
 Closing cost
2-3 Months Home Insurance
Property Tax
Attorney Fee
Title Fee
Loan Origination Fee
Credit Report
Recording Fee
Escrow
 CONTACT INFORMATION:

PATERSON
914 Madison Avenue., Paterson, NJ
Dennis Sanchez
Office: 973-684-1110
Realtor
Fax: 973-684-1118
201-724-0422
Cell