1	Buyer Services Plan Tom Scaglione, e-PRO, REALTOR® 813-310-8200 http://www.RealEstateTom.com Tom@RealEstateTom.com ~ Tampa Bay Area Specialist ~ Click On Slide Arrows Below
2	What You Need To Know To Buy A Home... Everything You Need To Know To Make Buying Your New Home Easy and Affordable. Using Tom’s Proven Buyer’s Services Plan.
3	Why Buy? Tax deductions Stable housing cost Appreciation of home Equity gain in home Control of your property
4	Are You Ready To Buy? Steady income Pay bills on time Low to medium debt Down payment available Available closing cost money Ability to pay mortgage
5	What Type Of Home Type of community New home Resale home Fixer-upper Features Bedrooms Baths Garage, etc.
6	How Much Home Can You Afford Housing costs less than 29% of gross income Housing costs & debt no more than 36% of gross income Consider special loan programs Get pre-approved for your loan
7	Why Be Pre-Approved? You know what you can afford before you begin to shop Shows sellers you are serious about buying Can make an offer as soon as you find the home you want to buy
8	Documents For Pre-Approval Pay stubs (2-3 months) W-2 forms or 1099 forms (2 years) List of long term debt Recent bank statements (3 months) Tax returns (2 years) Proof of any additional income
9	Fixed Rate Mortgage Payments remain the same 15 or 30 year repayment terms Advantages: Predictability Insurance against rising interest rates
10	Adjustable Rate Mortgage Payments increase or decrease on a regular schedule with interest rate changes Increases are subject to limits ARM linked to specific index or margin Advantages include a low initial interest rate with lower monthly payments
11	15 vs. 30 Year Mortgage 30-Year… In the first 23 years of the loan more interest is paid than principle affording a larger tax deductions. 15-Year… Loan is generally at a lower interest rate and equity is built faster because early payments pay more to the principle.
12	Special Programs Available First time buyer 100% Financing Low down payment Interest only Stated income Less than perfect credit Heavy debt burden Irregular income or self employed
13	Credit Scores The minimum credit score to acquire a standard mortgage is 620 The higher the credit score… the better the interest rate
14	How Tom Scaglione, ABR, e-PRO, Realtor Can Help Guide you through the process of buying or building a home Knows the community Provide you with lists of homes that meet your requirements
15	How Tom Scaglione, ABR, e-PRO, Realtor Can Protect You Seller is represented by the listing Realtor Listing Realtor is bound to protect the seller As a Buyer’s Agent I will be bound to protect and represent you… The Buyer
16	How to Begin Looking For A Home Get pre-approved Complete a list of must haves Picture your furniture… will it fit What amenities do you want Look at the state of repair or disrepair Ask Tom to point out the pros and cons of each home you view
17	What To Do When You’ve Found The Home You Want Tom will prepare a Comparative Market Analysis of recent sales in the neighborhood You can then determine the amount you’re willing to offer You will decide how much earnest money you will put in escrow Tom will then prepare an offer contract in writing to be signed by you and presented to the seller
18	Determining The Amount Of The Offer What are comparable homes selling for? What is the home’s condition? How long has the home been on the market? What are the financing terms? What is the seller’s situation? Rely on advise from Tom to guide you through the process Be Prepared to negotiate
19	About The Earnest Money Usually between 1%-5% of the purchase price If offer is accepted, earnest money becomes part of your down payment or closing costs If offer is rejected, the earnest money is returned to you If you back out of the deal, you could forfeit the earnest money
20	Making the Offer Tom, your Realtor and buyer’s agent, will assist you in making the offer, which will include: Legal description of property Amount of earnest money Down payment and financing details Proposed closing date Price you are offering Length of time you offer is valid Details of the deal
21	The Home Inspection Your offer will be contingent upon a satisfactory home inspection A Professional inspector will evaluate the safety and condition of the home Items include, Structural, Electrical, Plumbing, Mechanical Air and Heat, Pool, Roof, Windows and Doors and Appliances
22	Closing Costs Include Property taxes (pro-rated) Interest (if applicable) Loan origination fee (if applicable) Recording fees Survey fee Credit Report fee Appraisal fee Homeowners insurance Mortgage insurance (if applicable) Title insurance for mortgagee Loan discount points (if applicable) Tax and insurance escrow accounts Documentation prep fees
23	On Closing Day Present your receipt for homeowners insurance Closing agent will list money you owe seller and money seller owes you Seller will provide proofs of any warranties or inspections and repairs You will have documentation for your loan/mortgage explained to you and you will sign on the dotted line You will pay all closing costs and receive a settlement statement from the closing agent The deed will be recorded and sent to you
24	My Credentials… 1 Serving the Tampa Bay Area for 30 plus years Native born, so I know the market in Tampa Bay Member of the Greater Tampa Association of Realtors® (GTAR) Member of the Florida Association of Realtors® (FAR) Member of the National Association of Realtors® (NAR) Member of the Mid-Florida Regional Multiple Listing Service (MFRMLS)
25	My Credentials… 2 2006/2007 President MFRMLS 2005/2006 President-elect of MFRMLS 2004/2005 Treasurer of MFRMLS 2003 Board Member of GTAR 2003 Chairman of Business Trends and Technology FAR 2001 District 6 Vice President FAR 2000 President of GTAR 2000/01 President Rebuilding Together Tampa Bay
26	Congratulations… You are now a Homeowner!!
27	For All Your Real Estate Needs Contact Tom Scaglione, e-PRO, Realtor® People’s Choice Realty Services 813-310-8200 http://www. RealEstateTom.com Tom@RealEstateTom.com ~ Tampa Bay Area Specialist ~