Home Buyer Guide


Home Buyer Guide
Buying A New Home
There are many steps
to purchasing a new
What’s important to you?
Selecting a Real Estate company:
–  Innovative
–  Accessibility
–  Professional
Selecting a Realtor:
–  Accessibility
–  Personality
–  Knowledgeable
Val Kircher Broker/Co-Owner
Coldwell Banker Kircher & Associates Realty, Inc.
Co-Owner Paramount Title & Escrow
We are commi*ed to making your real estate experience a seamless transi6on with peace of mind and professionalism. Company Stats § Serving Southwest Nebraska since 1996 § 6 Sales Associates § Received Premiere Office Award for 6 [email protected] years § Broker, Val Kircher has held Premiere Office Manager for 10 years § Created “Parade of Homes” in 2000 § Listen to us weekly on “Radio Real Estate” with Jesse Stevens
Business Philosophy § To provide the highest level of customer service. § Making all real estate [email protected] a happy experience. § “Results Pure & Simple”
Memberships and Community Involvement
• [email protected] [email protected] of Realtors
• Nebraska [email protected] of Realtors
• [email protected]fied New Home Specialist
• Current President of Southwest Nebraska Habitat for Humanity
• CommiWee member of the McCook Economic Development Housing Division
Broker Associates & Sales Associates
•  Val Kircher GRI, BPOR
SPS, Real Estate Educator
Licensed in 1993
Broker Associates:
•  Mike Kircher
Licensed in 1996
Sales Associates:
•  Joyce Huffman
•  Glenda Bierfreund
•  Dawn Lemon
•  Deidre Shafer
Licensed in 1998
Licensed in 2006
Licensed in 2007
Licensed in 2008
Agency & How it Works
Buyer’s agent
•  Represents the buyer
•  Has a fiduciary responsibility
to the buyer
Seller’s agent
•  Represents the seller
•  Has a fiduciary responsibility
to the seller
A dual agent
•  Represents the interests of both the seller and the buyer
•  Has a fiduciary responsibility to both parties
Your Choices
Know Your Rights
Remember agents work on commission only, they do not
receive payment until the property closes.
Title & Escrow Company
This is directly from the HUD.GOV website:
Section 9: Seller required title insurance
Section 9 of RESPA prohibits a seller from requiring the home buyer to use a particular title insurance
company, either directly or indirectly, as a condition of sale. Buyers may sue a seller who violates this
provision for an amount equal to three times all charges made for the title insurance.
Steps to Get Started
1. Determine your budget and how much you can afford.
2. Get pre-approved for a mortgage.
•  When applying, you’ll most likely need to furnish:
Two most recent pay stubs.
W-2 forms for the past two years.
Federal tax returns for the past two years.
Last two months bank statements.
Long-term debt information such as credit cards, auto loans etc.
Pre-Approved vs. Pre-Qualified
• Pre-Approved: confirmation the lender will give you a
commitment to support your purchase.
• Pre-Qualified: an estimate of what you can afford.
Being pre-approved makes you a more attractive
candidate to the seller when making an offer.
Choosing your New Home
Once you’ve found the perfect home, writing up the
offer and understanding the process.
Personal Property:
What you would like to stay with the property.
Writing the Offer
• Terms of the Contract
• Cash
• Loan
Understanding the Terms of Financing
Interest Rate:
5% 6 % ? Why put it on the contract
Length of Deed of Trust:
Different lengths 15yrs vs. 30 yrs
Time Frame for obtaining Financing
Other options for Financing and Terms
Seller Contributions:
Help with Closing Costs
and or Repairs
Sale of Current Home:
Disclosures and Inspections
•  Seller Property Condition Disclosure
–  What and Why
–  Inspect
–  Inspect
–  Inspect
A home warranty can protect you from
unforeseen risks
• Provides repair-or-replace
• Gives you peace of mind
• Can be purchased by you
or by the seller, as agreed
upon in the contract
Negotiating the purchase agreement
A well-prepared offer that is effectively presented stands
the best chance of a favorable response.
•  Your agent will present your written offer to the sellers or sellers agent and
negotiate on your behalf.
•  The sellers will have the choice of:
– Accepting your offer as presented
– Rejecting it completely
– Countering it
•  Your agent will communicate to you the seller’s response and, if necessary,
suggest further negotiating options.
An accepted offer leads to a legally
binding purchase contract
• The purchase contract
• Contingencies
• Attorney review
• The closing process
Title insurance will protect your interests in the
•  A title insurance policy:
•  Is based on a search of public
records that discloses whether
any others have a legal claim to
the property
•  Insures you against loss due to
certain title defects
A walk-through prior to closing…
Lets you confirm the condition of the property.
•  A thorough walk-through will help you determine if the property is in the condition you
•  Your agent will accompany you.
•  Should a concern arise during the walk-through, your agent will assist you in
resolving it.
On Your Way to Closing
A successful purchase involves several important elements:
Full written disclosure
Offers and negotiations
The purchase agreement
Professional inspections
Title insurance and appraisal
Walk-through and final closing
Home warranty
The Closing
This is the meeting where the transaction is finalized. Your
agent, lender and title company will guide you through all
closing procedures to make your home officially yours.

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