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Joe Dent’s VIP Buyer Services
Making Your Home Buying Dreams Come True
Making Your Home Buying Dreams Come True
Services provided Seller (Listing) Agent
Buyer Agent
1. Provide you property values 2. Represent you on all MLS properties, PLUS bank properties (REO), new builds
3. Promote and protect your interests at ALL TIMES
4. Advise you even if it means advising NOT to buy 5. Negotiate best price and terms for YOU, the buyer
6. Structure your offer with your best interests in mind
7. Keep your information confidential from the seller unless authorized to disclose
8. Negotiate for a home inspection and repairs in YOUR favor
Benefits ofBuyer Agency
Benefits ofBuyer Agency
Renting Costs a Lot – A Whole Lot!
Assumptions: Assumptions:
$1,500 Monthly Rent Payments$1,500 Monthly Rent Payments
Landlord Increases Rent 5% YearlyLandlord Increases Rent 5% Yearly
Five Year Costs…Nearly $100,000!Five Year Costs…Nearly $100,000!
Show Your Landlord The Money
Assuming a 5% increase per year:Assuming a 5% increase per year:
YearYear Monthly RentMonthly Rent Annual RentAnnual Rent 11 $1,500 $18,000$1,500 $18,000 22 $1,575 $18,900 $1,575 $18,900 3 $1,654 $19,8483 $1,654 $19,848 4 $1,737 $20,8444 $1,737 $20,844 5 $1,824 5 $1,824 $21,888$21,888
Total $99,480Total $99,480
Average monthly rent over five years $1,658Average monthly rent over five years $1,658
Getting In Is Easy
$300,000 Mortgage – PITI $2,200+/-$300,000 Mortgage – PITI $2,200+/-
After Tax Breaks – After Tax Breaks – Payments Similar to Payments Similar to
Average Rent over 5-yearsAverage Rent over 5-years
Assume 25% Tax BracketAssume 25% Tax Bracket
Now For The Good Part!After 5 years:After 5 years:
Mortgage Balance Mortgage Balance Declines to $279,000Declines to $279,000
Home Value Increases to Home Value Increases to $383,000 @ 5% Appreciation$383,000 @ 5% Appreciation
Net Worth Up $104,000!Net Worth Up $104,000!
3.5% Home Appreciation 3.5% Home Appreciation Still Yields $77,000 Net WorthStill Yields $77,000 Net Worth
Your $ Works For YouAfter 5 years:After 5 years:
Home appreciation (assuming 5% per year):Home appreciation (assuming 5% per year):11 $315,000$315,00022 $330,750$330,75033 $347,288$347,28844 $364,652$364,65255 $382,885$382,885
AppreciationAppreciation $82,885$82,885Mortgage balance ($279,163)Mortgage balance ($279,163) $20,837$20,837
Total Total $103,722$103,722
Your Uncle Wants to HelpIf Cash Is Tight – If Cash Is Tight –
Uncle Sam Can Help NowUncle Sam Can Help Now
Don’t Wait For Refund Bucks:Don’t Wait For Refund Bucks:
Increase Your Take Home PayIncrease Your Take Home Pay
Quit Lending Money to Quit Lending Money to Uncle Sam Interest FreeUncle Sam Interest Free
Check Out: Check Out: IRS Withholding CalculatorIRS Withholding Calculator To Do It RightTo Do It Right
http://www.irs.gov/individuals/page/0,,id=14806,00.html
Tax AdvantageAssuming a $300,000 loan:Assuming a $300,000 loan:
P&IP&I $1,798.65$1,798.65Taxes Taxes 312.50 312.50InsuranceInsurance 100.00 100.00
TotalTotal $2,211.15$2,211.15
Tax deduction for five years:Tax deduction for five years:Interest $87,082 + Taxes $18,750= $105,832Interest $87,082 + Taxes $18,750= $105,832
Using a 25% tax bracket Using a 25% tax bracket $26,458$26,458MonthlyMonthly $ 441$ 441
Mortgage Payment $2211 – 441 = $1,770Mortgage Payment $2211 – 441 = $1,770Average Rent (five years) $1,658Average Rent (five years) $1,658Payment difference $ 112Payment difference $ 112
homeowner tax reductions
increase exemptions
to reduce withholding
increase take home pay
$441/mo $441/moDon’t wait for refund check. Increase take home pay now!
Joe Dent’s VIP Buyer Services
Making Your Home Buying Dreams Come True
Making Your Home Buying Dreams Come True
As A Homebuying Specialist:..…I Will Help You:
As A Homebuying Specialist:..…I Will Help You:
1.1. Find the Find the best homebest home for your for your needsneeds2.2. Negotiate the Negotiate the lowest pricelowest price3.3. Secure the Secure the best financingbest financing4.4. Meet your home buying needsMeet your home buying needs with the with the least amount of hassleleast amount of hassle
None of My Services Will Cost You a Penny*
None of My Services Will Cost You a Penny*
*Exception: Fairfax Realty’s $195 admin fee to cover costs of Federal, State, Local (County) compliance and quality control. Included in your closing costs
and payable at settlement. In most cases we get the Seller to cover this fee.
*Exception: Fairfax Realty’s $195 admin fee to cover costs of Federal, State, Local (County) compliance and quality control. Included in your closing costs
and payable at settlement. In most cases we get the Seller to cover this fee.
My Homebuying System…
Focuses on Your Needs
My Homebuying System…
Focuses on Your Needs
Step 1:LOAN PREAPPROVAL LOAN PREAPPROVAL
To Determine Your Purchasing Power To Determine Your Purchasing Power Find Out How Much Home you Can Afford ( by helping you get Find Out How Much Home you Can Afford ( by helping you get
FREEFREE
Home Loan Pre-ApprovalHome Loan Pre-Approval))
LOAN PREAPPROVAL LOAN PREAPPROVAL
To Determine Your Purchasing Power To Determine Your Purchasing Power Find Out How Much Home you Can Afford ( by helping you get Find Out How Much Home you Can Afford ( by helping you get
FREEFREE
Home Loan Pre-ApprovalHome Loan Pre-Approval))
Step 2:
Your Home SearchYour Home SearchSend You Information on Homes That Match Your Criteria Send You Information on Homes That Match Your Criteria
( our ( our UniqueUnique Buyer Profile Service Buyer Profile Service ))
Your Home SearchYour Home SearchSend You Information on Homes That Match Your Criteria Send You Information on Homes That Match Your Criteria
( our ( our UniqueUnique Buyer Profile Service Buyer Profile Service ))
Step 3:OFFER ON A SPECIFIC HOME
Help You Get the Home You Want Using
My Specialized Knowledge
At Each Step, You will benefit from
my Innovative Consumer Programs
At Each Step, You will benefit from
my Innovative Consumer Programs
The 3 Step Process to The 3 Step Process to HomeownershipHomeownership
1. Your Home Loan Preapproval
2. Home Searching with my Buyer Profile Service
3. Offer to Contract
Using My Specialized Knowledge
SETTLEMENT & your new home keys!
Inspection(s) appraisal
final loan approval
Should I Start Viewing Homes Should I Start Viewing Homes Before I’m Loan Approved?Before I’m Loan Approved?
1. Loan Preapproval
2. Home Search
3. Contract Negotiations
Settlement
How much house
can you afford?
How much house
can you afford?
What is a GFE? What is an EMD?What is a GFE?
What is an EMD?
What 4 upfront expenses are required to purchase?
What 4 upfront expenses are required to purchase?
Home Loan Pre-Approval 3 key Benefits
Home Loan Pre-Approval 3 key Benefits
Three Key Benefits...Three Key Benefits...
1.1. You Know Exactly You Know Exactly How Much Home You How Much Home You Can Afford Can Afford
Three Key BenefitsThree Key Benefits
2. You Get the 2. You Get the Best FinancingBest Financing
Three Key BenefitsThree Key Benefits
3.3. You Can Make a You Can Make a Stronger OfferStronger Offer
Consider These Two OffersConsider These Two OffersBuyer A(You with
pre-approved
Home Loan)
Buyer A(You with
pre-approved
Home Loan)
$ 250,000 $ 250,000 $ 250,000 $ 250,000
Cash Offer Cash Offer
No Conditions No Conditions
Conditional Upon Financing Conditional Upon Financing
Buyer B(Another buyer who is
NOT pre-approved)
Buyer B(Another buyer who is
NOT pre-approved)
Which Offer Would You Accept?
Which Offer Would You Accept?
Pre-ApprovalIt’s as Easy as 1-2-3
Pre-ApprovalIt’s as Easy as 1-2-3
1. A Home Loan Credit Report is Generated by the Credit Bureau
2. Application Taken & Financial Details (e.g. income, assets) Are Verified
3. All Information is Forwarded to the Underwriter for Approval
1. A Home Loan Credit Report is Generated by the Credit Bureau
2. Application Taken & Financial Details (e.g. income, assets) Are Verified
3. All Information is Forwarded to the Underwriter for Approval
Pre-ApprovalPre-Approval
You’re Pre-Approved!
You’re Pre-Approved!
Step 2:Step 2:
My Auto E-mail My Auto E-mail Buyer Profile Buyer Profile Service...Service...
What Are You Looking For in a
Home?
What Are You Looking For in a
Home?
MultipleMultiple
ListingsListings
Service*Service*
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
Buyers presentation
* MRIS (Metro Regional Info Service)
The MLS has information on thousands of homes for sale by
ALL companies
How Most Realtors
Pick Out Houses:
How Most Realtors
Pick Out Houses:
How Most Realtors Pick Out Houses:
How Most Realtors Pick Out Houses:
1. They make a random search through the MLS
2. They pick 6-8 homes
3. They try to sell you one of them
1. They make a random search through the MLS
2. They pick 6-8 homes
3. They try to sell you one of them
The WRONG Person is deciding which homes you’ll
get to see...
The WRONG Person is deciding which homes you’ll
get to see...
The Solution
My One-of-a-kind My One-of-a-kind Buyer Profile Buyer Profile SystemSystem gives YOU priority gives YOU priority access to hot new listings that access to hot new listings that match YOUR home buying match YOUR home buying criteria criteria
… I put YOU in control… I put YOU in control
1. Your home buying criteria is entered into my custom computer database
2. Every evening, my computer searches the MLS to find homes that match your specific criteria
1. Your home buying criteria is entered into my custom computer database
2. Every evening, my computer searches the MLS to find homes that match your specific criteria
… We put YOU in control
… We put YOU in control
3. I only send you the homes that match your criteria
4. You can pick the homes you like and drive by them
3. I only send you the homes that match your criteria
4. You can pick the homes you like and drive by them
… I put YOU in control… I put YOU in control
5. After driving by, when you see a home you want to look at give me a call, I’ll arrange a private showing
6. NO pressure to buy
5. After driving by, when you see a home you want to look at give me a call, I’ll arrange a private showing
6. NO pressure to buy
YOU are in control which
means...
YOU are in control which
means...
NO MORE...Searching through the paper, looking at homes that may
already be sold
NO MORE...Searching through the paper, looking at homes that may
already be sold
You get AUTOMATIC
access to hot new listings BEFORE
other buyers
You get AUTOMATIC
access to hot new listings BEFORE
other buyers
YOU are in control which means...YOU are in control which means...
NO MORE...Wasted time
viewing homes a real estate agent has
picked out that don’t interest you
NO MORE...Wasted time
viewing homes a real estate agent has
picked out that don’t interest you
You only receive homes that match your criteria and YOU pick the
homes you want to see
You only receive homes that match your criteria and YOU pick the
homes you want to see
YOU are in control which means...YOU are in control which means...
NO MORE...Pressure (most
agents pick out 6-8 homes and try to sell you one of
them
NO MORE...Pressure (most
agents pick out 6-8 homes and try to sell you one of
them
You pick out as many homes as you want to see (there’s never
any pressure to buy)
You pick out as many homes as you want to see (there’s never
any pressure to buy)
YOU are in control which means...YOU are in control which means...
NO MORE...Overpaying for the
home you want
NO MORE...Overpaying for the
home you want
Because you beat out other buyers, you can negotiate the best possible
price
Because you beat out other buyers, you can negotiate the best possible
price
YOU Are in control which means...YOU Are in control which means...
10 Problems with SHORT SALES:
10 Problems with SHORT SALES:
1. Competitive, and Often Unrealistic List Pricing
2. The Bank calls the Shots…and Dumb shots at that!
3. Property sold as-is
1. Competitive, and Often Unrealistic List Pricing
2. The Bank calls the Shots…and Dumb shots at that!
3. Property sold as-is
10 Problems with SHORT SALES:
10 Problems with SHORT SALES:
4. The Bank holds your deposit money …
5. Delays, delays!
6. And More Delays!
4. The Bank holds your deposit money …
5. Delays, delays!
6. And More Delays!
10 Problems with SHORT SALES::10 Problems with SHORT SALES::
7. Uncooperative/uninformed Realtors:
8. Little/No Closing Costs Help.
9. HOA/Condo violations or delinquencies, outstanding utility company bills from previous owner.
7. Uncooperative/uninformed Realtors:
8. Little/No Closing Costs Help.
9. HOA/Condo violations or delinquencies, outstanding utility company bills from previous owner.
10 Problems with SHORT SALES::10 Problems with SHORT SALES::
10. Totally uncertain, unpredictable outcome for your offer!
10. Totally uncertain, unpredictable outcome for your offer!
How to Beat Out Other Buyers in Multiple Offers:
How to Beat Out Other Buyers in Multiple Offers:
1. It’s the NET not the Gross!
Offer = $200,000Seller help = $6,000Seller net =$194,000
2. 1st impression – 1 chance
3. Big EMD deposit – at least 2%
1. It’s the NET not the Gross!
Offer = $200,000Seller help = $6,000Seller net =$194,000
2. 1st impression – 1 chance
3. Big EMD deposit – at least 2%
How to Beat Out Other Buyers in Multiple Offers:
How to Beat Out Other Buyers in Multiple Offers:
4. Strong lender letter!
5. 1st impression – 1 chance
6.Financial Info Sheet & BankStatement Showing Cash to Close Match
4. Strong lender letter!
5. 1st impression – 1 chance
6.Financial Info Sheet & BankStatement Showing Cash to Close Match
How to Beat Out Other Buyers in Multiple Offers:
How to Beat Out Other Buyers in Multiple Offers:
7. The greater the contingencies (e.g. home, radon, mold, termite inspections) the less competitive the offer
7. The greater the contingencies (e.g. home, radon, mold, termite inspections) the less competitive the offer
Bank Foreclosures (REO’s):Bank Foreclosures (REO’s):1. Sold AS-IS, no repairs, all need work
2. Lots of competition, multiple offers
3. Usually require certified cashier check for EMD (earnest money deposit)
4. Properties sometimes have appraisal/title issues
5. Many require seller bank loan prequal
1. Sold AS-IS, no repairs, all need work
2. Lots of competition, multiple offers
3. Usually require certified cashier check for EMD (earnest money deposit)
4. Properties sometimes have appraisal/title issues
5. Many require seller bank loan prequal
How to Make a Winning FCL Offer:How to Make a Winning FCL Offer:1. No concessions, few contingencies
2. Bumping price causes appraisal issues
3. Big deposit (2%); but make deposit in 2 installments (small initial, large balance) to give equitable rights
4. Proof of funds, buyers name on EMD check, completed financial statement
1. No concessions, few contingencies
2. Bumping price causes appraisal issues
3. Big deposit (2%); but make deposit in 2 installments (small initial, large balance) to give equitable rights
4. Proof of funds, buyers name on EMD check, completed financial statement
Step 3:Step 3:
Negotiating your offer Negotiating your offer with mywith my
Specialized Specialized KnowledgeKnowledge
When You find the home you want, I will
When You find the home you want, I will
1. Help you prepare an offer that meets your needs and a Comparative Market Analysis (CMA) showing the relative value of the asking price.
2. Present the offer on your behalf to the seller
3. Negotiate all terms and conditions of the offer in your best interest
1. Help you prepare an offer that meets your needs and a Comparative Market Analysis (CMA) showing the relative value of the asking price.
2. Present the offer on your behalf to the seller
3. Negotiate all terms and conditions of the offer in your best interest
In Summary...In Summary...
HowHow YouYou Benefit Benefit
You get pre-qualified FREE of charge for a home loan and get access to special financing
You get pre-qualified FREE of charge for a home loan and get access to special financing
You can afford more home for your
money
You can afford more home for your
money
HowHow YouYou Benefit Benefit
You AUTOMATICALLY receive the best new listings that match
your criteria BEFORE the average buyer knows about them
You AUTOMATICALLY receive the best new listings that match
your criteria BEFORE the average buyer knows about them
You can beat out other buyers to hot
new listings
You can beat out other buyers to hot
new listings
HowHow YouYou Benefit Benefit
You are represented & backed by my
Specialized Knowledge
You are represented & backed by my
Specialized Knowledge
You get the house you want at the lowest possible
price
You get the house you want at the lowest possible
price
HowHow YouYou Benefit Benefit
None of these Valuable Services
Costs You a Penny*
None of these Valuable Services
Costs You a Penny*
All We Ask in Return is Your Loyalty
All We Ask in Return is Your Loyalty
Your Offer to Purchase Real Estate
Docs
Your Offer to Purchase Real Estate
Docs
What to Say and Do When You Come Across Homes on
Your Own
What to Say and Do When You Come Across Homes on
Your Own
What to Say and Do When You Come Across Homes on Your Own
What to Say and Do When You Come Across Homes on Your Own
1. If you see a home you like, feel free to call for information but always tell the agent that you’re working with us (this will prevent you from being hounded by other agents with questions and sales pitches)
1. If you see a home you like, feel free to call for information but always tell the agent that you’re working with us (this will prevent you from being hounded by other agents with questions and sales pitches)
What to Say and Do When You Come Across Homes on Your Own
What to Say and Do When You Come Across Homes on Your Own
2. Get the price and (if available) MLS number and I’ll send you complete information
3. If you see a house you want to look at, always call ME for appointments
2. Get the price and (if available) MLS number and I’ll send you complete information
3. If you see a house you want to look at, always call ME for appointments
Why Couples Should Look At Homes Together
Why Couples Should Look At Homes Together
How We Schedule Private Home ToursHow We Schedule
Private Home Tours
The Next The Next Step ...Step ...
One of my many
Success Stories
One of my many
Success Stories
Dear Mr. Dent. My family would like to extend our heartfelt gratitude for making one of our dreams become a reality (to own a house). We thank you for your patience, professionalism, and knowledgeable ways of dealing with every need that we had when we were on the process of purchasing our property. From the very basic to the most complex part of the
process, you were there with us. My family, especially my kids Joshua, and John were happy to see you all those times you worked with us because you made them feel that you care for our family. Having you as our realtor is a tremendous blessing to us. May the good Lord continue to bless you and your family so that you may continue to bless others. Ronaldo and Melany GarciaA Proud Home Owner of5104 Marlborough Pl.Upper Marlbor, MD 20772
Joe’s NEW-Home Buyer Seminar
Everybody has heard of a new-build “horror story.”
1. It always takes more TIME, MONEY, PATIENCE than the original estimate.2. NEW construction does not equal SOUND, QUALITY construction!
3 TRUTHS about Buying a New 3 TRUTHS about Buying a New Home No One Will Tell YouHome No One Will Tell You
3. HIGH PRICED construction does not equal SOUND, QUALITY construction!
How You and I Will Work Together1. Call me before visiting & registering at any new home sales center, or talking to any builder sales rep.
2. To represent you as your buyer agent with the builder, I have to be present with you at the time you register with the sales rep, or give any information about yourself. We have to come in the door together!
3. Builders will only recognize & cooperate with buyer agents who register with their buyer clients.
“The construction of our home in Hanover has truly been one of the most stressful and challenging tasks we have ever faced. Our initial troubles dealing with our builder and the construction details left two new homebuyers like ourselves in a near tailspin.
Money Bombs!Money Bombs!
Money Bombs!Money Bombs!
2. Can be (a) cheap materials behind the walls, (b) defective installation of good products, or (c) competent installation of cheap appliances, fixtures, components, in front of the walls.
1. Special scams or rip offs that can trip up new home buyers.
Money Bombs!Money Bombs!
5. Hurricane Andrew August 1992 in Dade County Florida
3. Too many builders operate under the cheaper the better philosophy. The rush for profit can be at your expense.4. Home inspectors say one in three homes has serious flaws or code violations which don’t show up for years sometimes.
No better measure of defective homes than the “Hurricane Test”
Andrew ripped off the roofs of 100,000+ homes.
Much of the destruction caused by defective construction.
Miami Herald . . .
“The homes most damaged by the hurricane were built recently in the 1980’s & later. By contrast subdivisions right across the street that were of older vintage . . .”
“. . . often suffered LESS damage. The reason is clear: homes built in the last 10-20 years were riddled with defects that directly contributed to their destruction in Hurricane Andrew.”
By the way! Dade County FL has some of the strictest building codes in the nation!
The Paper Trail: Protecting Your Rights With A Good Contract
When you sign a contract, you might as well consider that pen in your hand to be a stick of dynamite.
How Bad Contract Zap How Bad Contract Zap Good BuyersGood Buyers
6. Builders have expert lawyers & 6. Builders have expert lawyers & take extensive classes all take extensive classes all designed to limit your rights – and designed to limit your rights – and their liability for problems.their liability for problems.
Builder’s Side of Contract
Buyer’s Side of Contract
Here’s how you can take control Here’s how you can take control of the process: of the process:
� � DO YOUR HOMEWORK BEFORE YOU STEP INTO A DO YOUR HOMEWORK BEFORE YOU STEP INTO A MODEL.MODEL.
� � A. Research the builder in local papers. A. Research the builder in local papers.
� � B. Check out Hoover’s Online B. Check out Hoover’s Online
((www.hoovers.comwww.hoovers.com for profiles of 8500 for profiles of 8500 companies including their latest SEC filings and companies including their latest SEC filings and reports from analysts. reports from analysts.
C. Check to see if the builder has been sued by a C. Check to see if the builder has been sued by a site called site called www.KnowX.comwww.KnowX.com Cost: $1.50-$6.95 Cost: $1.50-$6.95 for a search, and $2.95-$6.95 for a detail record.for a search, and $2.95-$6.95 for a detail record.
� � Ask for the price lists, options list, and Ask for the price lists, options list, and brochures up front.brochures up front.
Here’s how you can take control Here’s how you can take control of the process: of the process:
� � See “real” homes. (homes lived in by See “real” homes. (homes lived in by real, live people!)real, live people!)
� � Check out the “model Check out the “model variances.”variances.”
Ryan Homes (NVR)
The Ripp-Off Report http://badbusinessbureau.com and
www.ripoffreport.comm
http://ryanhomesnightmare.com/
The Most Important Part The Most Important Part of This Presentation …of This Presentation …
The 1The 1stst of 3 Most Critical, Time- of 3 Most Critical, Time-Sensitive Points for a Home Sensitive Points for a Home
Inspection During ConstructionInspection During Construction
1.1. Foundation Foundation (before backfill!) (before backfill!)
The 2The 2ndnd of 3 Most Critical, Time- of 3 Most Critical, Time-Sensitive Points for a Home Sensitive Points for a Home
Inspection During ConstructionInspection During Construction
2.2. Pre-drywallPre-drywall
3.3. Pre-Pre-settlement settlement
walkthrough walkthrough
The 3The 3rdrd of 3 Most Critical, of 3 Most Critical, Time-Sensitive Points for a Time-Sensitive Points for a
Home Inspection During Home Inspection During ConstructionConstruction
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