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EQ1 and Buyers Learning Together_v4_22May2018
Transcript of EQ1 and Buyers Learning Together_v4_22May2018
Buyers Learning Together (BLT)
The EQ1 Mission
Educate our clients using our skills and talents to help make homeownership a REALITY
"We believe in the dream of homeownership."
Goals of the
Benefits of Working
with an EQ1 Agent
The EQ1 Difference
are highly attentive listeners
provide concierge-level client experiences
embrace the team approach
are market focused & data driven
educate you on the real estate process
are team you can TRUST & RELY ON
We work together
(notice the pattern?)
Our Goals when
Finding Your New Home?
The Home Search
Show you homes that match the criteria
Schedule showings, gather available reports,
and share our knowledge of the area
Limit showings to 3-4 homes on each
We look at a number of factors, including:
The right neighborhood
The right house
Best value for your money
1. Someone who looks out for you
2. Discusses positives and negatives of a property
3. Project manages your transaction
4. Provides expert strategies and negotiations
5. Guides you through the loan process
6. No cost to you
Four Types of Houses For Sale
1. Regular Sale
Owner makes the decision
16 to 30 days to close
2. Flip Sale
21 to 30 days to close
Expect to pay top $$$
3. Short Sale
3 to 6 months to close
4. Real Estate Owned (REO)
Bank makes the decision
21 to 30 days to close
What goes into an
EQ1 Offer Package?
What's an Earnest Money Deposit?
What are contingencies?
Put CONFIDENCE in Buyers
Help understand the process
Determining Your Needs....
Get in touch with us
Complete Desires, Needs & Abilities (DNA)
Discuss the state of the current market
Develop a Winning Strategy
Become a Homeowner
The Loan Process
The 10 "Loan Commandments"
1. Change your jobs, become self-employed or quit your job
2. Co-sign a loan for anyone
3. Buy a vehicle
4. Use charge cards excessively or make late payments on ANY of your accounts
5. Spend money set aside for closing
6. Omit debts or liabilities from loan application
7. Buy furniture, appliances or household items before closing
8. Originate any inquiries into your credit
9. Make large deposits without first checking with your mortgage consultant
10. Change bank statements
2 years of W2s & Federal Tax Returns
1 Month of Paystubs
2 Months of Bank Statements
401K, IRAs, and stocks (if applicable)
Copy of Driver License
Types of Loan Programs
What are closing costs?
Non-recurring closing costs:
Fees that apply only at the time of purchase
Lender fees, title & escrow fees, and transaction coordinator fee
Recurring closing costs:
Fees that apply throughout the loan
Principle & Interest, Property Tax, Insurance and HOA (if applicable)
Thou Shall NOT:
Why get Pre-Approved?
Know what you are qualified for
Fully understand what is on your credit report
Get the best interest rate possible
Write a Winning Offer
The Next Step...
Understand your financial situation
Set up a one-on-one strategy meeting
with a preferred loan officer
Requirements of a Strong Buyer
*MI can be added if down payment is less than 20%
The Escrow Process:
Earnest Money Deposit
Inspections, disclosures & reports
Remove contingencies accordingly
Sign loan documents
Funding, recording and KEYS!
Your lender will find out! Consult with your loan officer first!
Customize Your Search and Profile
RealScout Listing View
EMD & Contingencies
2. Proof of Funds
3. Personalized Cover Letter
4. Offer Summary
5. Offer Contract
6. Signed Disclosures
LET'S GET REAL!!!
Contingent vs. Non-Contingent
What's it going to take to get your offer accepted?
We believe in the dream of homeownership.
Our mission is to educate our clients and use our
skills & knowledge to help make homeownership a reality.