BUYING STEPS

INITIAL CONTACT

  1. Call lead with in 24 hours to introduce yourself and outline our processes. This is when you will send them the Buyers Form and have them get pre-approved if they are not already

  2. Send them Buyers Form Online and ask them to be as specific as possible

  3. Help guide them through the pre-approval if needed

  4. Once they have completed steps 2 and 3, then schedule meet-up at local coffee shop near the area they want to live

Thanks so much for reaching out and for considering 6th Ave Homes for your real estate needs! Our team is excited to help you find your dream home.

If you could please visit the link below. On it you will find a simple form that we use to gather more info on exactly what you are looking for. Please be as specific as possible as it gives us an idea of how we can best help accomplish your real estate goals. It also walks you through the 6th Ave Homes buying process and gives you a big picture view of what to expect.

http://www.6thavehomes.com/buying-steps

Once you fill out the form and have obtained a pre-approval from your lender we can schedule the "Meet Up".

Thanks so much and we look forward to working with you!

It is important with this call to establish where they are at with their financing. You need to leave the convo either knowing who their lender is or directing them towards our reccomended lender.

A few questions to ask :

Are you currently working with a Lender? If so have you been pre-approved? Are you interested in talking w/ someone we have great experience with?

Before The Meetup they will need to do 2 things:

A) Fill out the Buyers Form and reiterate that they need to be as specific as possible.

B) Get pre-approved and have all of their financing in order. Before we start looking at houses we need to make sure they are good to go and have a clear idea on what they can afford.

MEET UP

Prep:

  1. Review criteria on Buyers Form and set up an MLS search to know what homes currently listed meet their criteria and research other neighborhood options. Search for and book 3-5 potential homes you can show them.

  2. Set up clients in ZipForms and import buyers contracts

1) Login to your zipforms

2) Hit the "+ New" button in the top left. This will pop open a new window.

3) Enter the name of your Buyers in the "Name" field. Select the options "Purchase" and "Residential". Then select the "BUYING FORMS" from the template drop down menu. Hit "Save".
This will close the pop up window and take you to Buyers transaction that you just created.

4) Select the "Parties" tab in the tob menu section of your transaction window.

5) Hit the "+ New" button in the top left. This will pop open a new window.

6) You will see a drop down tab that says Select One. Chose "Buyer One". Fill in all the information you can. This will save you from having to enter this down the road. Make sure to select "Save As Contact"
We also reccomend looking the buyer up on facebook and downloading their profile picture. You can upload their picture where it says, "Add Photo".
Hit "Save"

1) 6th Ave Homes Mission + Core Values

2) Your Personal 6AH Bio Page

3) Team Bio Page

4) Copy of Buyer Steps

5) Copy of Buyers Form

6) Filled out IABS Doc

7) Buyers Rep Agreement

8) MLS Report of active houses in their criteria

At the Meet Up: 

  1. Bring 6AH booklet

  2. 6AH Folder and insert your business card on left side

  3. 3-5 potential Houses  – can print info from MLS or show them on your computer

    • If interested take them to see a few houses

  4. Can bring Contracts to review/sign

    • Give them the option to read them over and send for e-sig later
    • If they sign (see below), can take them to see properties that day

      • IABS

      • Buyer Rep Agreement

      • 6AH Reno Terms

      • Info about Mineral Clauses

      • TILA-Respa

1) Introduce yourself.

2) Tell them about 6th Ave Homes. This includes our Mission and Values

3) Explain Team Roles. Transaction coordinator. If other agents will be showing. Go over team bios.

4) Get to know them and ask about what is prompting the move. Try to hone in on their dream location and dream home.

5) Go Over their Buyers Form. Discuss the form and dream. Ask if there is anything you are missing on the form that is a "Must Have".

6)Financing - Ask them about financing and pre-aproval. Anything we need to know?

7) Make a Copy of their DL. Just let them know that it is brokerage policy to keep on file.

8) Get IBAS & Buyers Rep Signed. A good way to set this up is, "Lets get paperwork out of the way, so we can dive into looking at homes"

9) Go over the list of active properties that you brought with you. Pick out a few favorites

10) Schedule a date to go see see the properties.

1) The Process - Go over the buyer steps.

2) Timing - How soon do they need to move? Explain that it will take 30-45 days from the time they find a house to close. The seller may also need to stay in a house longer and require a lease back.

3) Capacity - Explain that you work with other clients and you will do your best to respond quickly, but will not always be able to drop everything or respond immediately.

4) Showings - Showings will need to be scheduled 6-48 hours in advance. Sellers must approve showings and our times may be turned down.

5) Targets - They will need to widdle down their potential targets. No more than 4-5 houses at a time. No more than 2-3 showings at a time.

After the Meet Up: 

  1. Send them a follow up e-mail outlining what you discussed and outlining next steps

  • This includes sending them contracts to sign and/or scheduling showings

     2. Value Add: mail them a Thank You Card for meeting with you

“YES” THEY WANT TO WORK WITH YOU

  1. Send them the meetup documents to get signed (if they did not already sign)

  2. Set them up with an MLS Search

    3. Value add: mail them "Feel Lucky to work with you card and a lottery ticket" once all contracts are signed

 

1) Visit www.ntreis.net and login to your account

2) Click "Matrix". This will open a new window.

3) Click the "Search" tab up top -> "Residential" -> "Quick Search"

4) In top left area, unclick all excpet "Active"

5) Enter in search criteria

6) Make sure to do range for price and size

7) Click on "results" button. This is down in the bottom left area. This will take you to a new page with all of the active listings that meet your criteria.

8) On the left side you can select any property that you think is a good fit.

9) Select "Save". Then "New Saved Search". Name the search.

10) Then select "Create New Contact". Enter name, email, and then "Save". Then "Save" again.

Getting inside with your Supra Key:

1) Update E-Key app before you leave (in case there is no service).

2) Click obtain key on the app; activate bluetooth on your phone

3) Enter your personal pin code

4) If small blue box, click fob and make sure green light is flashing. Then directly point at infared spot on the blue lockbox

5)If large blue box, push bottom of box and ensure red light is flashing and point phone at box until unlocked

6) Get key, set box outside by door

7) Put the key in pocket (YOU WILL LOSE IT!)

**If have issue and need to call Supra, your ekey # is at the top of your app.

1-877-699-6787

BEGIN THE HOME SEARCH

  1. Set up showings based on homes they like and homes you found
  2. Send them a Google Calendar invite for all showings that day with the address and order of showing

  3. “What to bring to showings” 

    • Bring water, your charged phone, measuring tape, and iKey clicker (just in case they have an old ibox)

    • if you can arrive early, open all doors and turn on lights. Remind buyers to act as if they are on camera! Discuss pricing outside of the house.

    • Once done, ensure all doors are locked and lights off.

    • Provide feedback to seller agent (do not need to be extremely detailed or critical, try to be constructive if possible. remember the seller sees this as well

  4. Help them analyze the pros/cons of the different homes and look up recently sold comps to help determine a good offer price if they liked one.

  5. If they did not find one they liked, brainstorm better criteria to search for or recommend a different neighborhood

  6. Send an email recap after showings

It's always a good idea to do some due dilligence prior to seeing the property. We always reccomend looking up some info about the property and calling the listing agent.

1) Offers - You want to make sure there are no other offers on the table. If there are, you will need to move quickly.

2) Issues - Are there any issues or concerns with the house?

3) Reason For Selling - It never hurts to ask what is prompting the move.

4) Info about the house - Ask if there is any information about the house that the sellers would want to pass on to your buyers.

Things to do before you draft up an official offer:

1) Call the other agent to check status and seller motivations.

2) Call your clients to discuss their offer.

3) After you have gone over the offer with them on the phone, email them a recap with the offer points for confirmation. You want to make sure you are crystal clear on everything before you type it up.

 

MAKE AN OFFER

  1. Contact lender to ensure buyer will qualify for this home and ways to make their offer more competitive
  2. Review MLS Listing for offer instructions, preferred title company, and download documents uploaded and share with buyer
Picture1.jpg

3. Fill out and get signed by buyers before submitting to sellers agent

  • Contract
  • 3rd Party Financing
  • Pre-approval Letter
  • New appraisal amendment
  • Buyers letter - pulling on the heart strings always helps!

4. Send the buyers Sellers Disclosure to review as well as any documents posted on MLS

5. Sign 6AH Square Footage Document

 

Steps to making an offer

1) Download and save the MLS Matrix Info for the listing as a PDF

2) Download and save the Realist Tax info. You will need this for the legal description and it is good to have on file for your client. This is accessed through the MLS listing in your Matrix platform.

Underneath the image of the house on Matrix is a TX Button.
Click that for Realist owner and tax info.
Upload into your zipforms client file.

3) Save all suplements. These are the Little paper stacks underneath the image. Download all the files. You will need to have your clients sign the Sellers Disclosure if they have included one. Add these documents to your zip forms transaction.

4) Login to Zipforms and open your clients transaction.

5) Click the "Property" Tab up top.

6) Click MLS Connect. Enter in MLS Login Info. Enter MLS Listing Number. Click "Find". Then click "Import". Click "Save" button up top.

7) Click the "Documents" Tab. Select "One to Four Family Residential" contract from list of documents.

8)Enter in the pertinent info. Info you will need includes:

Sellers info (from realist or tax)
Sales Price + Financing
Title Company
Earnest
option time and fee
survey who pays
special provisions
home warranty
Seller concessions (FHA may require)
Lead Based Paint and Sellers Disclosure.

Make sure to select financing addendum if you are financing and above all MAKE SURE TO SAVE.

9) Send to clients for signatures. To do this you will click the "E-sign" button at the top of the page. Click "Sign This Form". Select the parties that need to sign. And then you will prompted on where to place signatures.

10) Repeat stpes for Lead Based Paint and Sellers Disclosure.

11) Once signed, send to listing agent. Make sure to include Lead Based Paint, Sellers Disclosure, and Pre-Approval Letter.

Once you have come to terms with the seller, there are a few things you need to do.

1) Make sure all parties have signed and initialed EVERY page

2) Make sure YOU enter the date execution page. This is YOUR job as the agent.

3) Circulate copies of the signed contract, Sellers Disclosure, Lead Paint (if applicable), Temp Lease (if applicable), and Financing addendum to ALL PARTIES. This includes:
-Buyers
-Sellers Agent
-Title Company
-Buyers Lender

4) Introduce Buyers to the title company via email. Let your buyers know that the title company will be their main point of contact for everything legal regarding the transaction and closing. They will handle the terms with their lender and will be responsible for getting clear title, title insurance, the deed, and ordering the survey.

5) Drop off Earnest money to the title company. THIS MUST BE DONE WITHIN 48 hours of contract execution. YOUR CLIENT WILL BE IN DEFAULT if not turned in.

6) Drop off Option Money to the sellers agent or seller.

OFFER ACCEPTANCE - OPTION PERIOD

  1. Execute- ensure it is signed by all parties

  2. Sign SD (and LBPA to submit to lender/title)

  3. Notify preferred title company by sending them a copy of the contract and other addendum

  4. Pick up Earnest Money & Option Money from buyer – drop off at title and sellers agent instructions on option

  5. EM & Option Receipt is typically sent out by title and/or listing agent once option is received

  6. Send and review critical dates document to buyers

  7. Value add: mail Melt Gift Card once under contract

  8. Note time is of the essence, have them schedule inspection and any other contractors you recommend ASAP to inspect property and provide quotes

  9. If remodeling, schedule contractors/designers for quotes during option period

  10. Negotiate with sellers agent for repairs: sellers concessions (1% of sales price), reduction in sale price, etc

  11. Notify lender of planned negotiations to ensure it works with their loan

  12. Submit amendment as needed and send signed amendment to lender and title

  13. Save copy of MLS Agent report and MLS photos in Zipforms

There will ALWAYS be concerns brought up on inspections and if it is an old house there will probably be A TON of things brought up. It's an inspectors job to point out anything and everything wrong with a house. But know, that not everything is cause for alarm or worth fighting for. If a house is used, it will have some deficencies. Your job is to coach your client through what is major and what is minor.

For instance some rotted wood on the exterior, minor cracks in grout or sheetrock are not really causes for alarm. However, water damage, issues with HVAC, leaks, and foundation problems are all items that need to be corrected.

When asking for concessions you need to consider a few things :

-Are you getting a deal or market price? If you are already getting a below market price, then do not expect to get very many concessions. If you are paying top dollar, then ask for things to be taken care of.

-How motivated is the seller? If the property has been on the market for months, they will likely say yes to more repairs. If its only been on the market for a few days, dont expect to get too much. BUT, it never hurts to ask.

There are several things you can ask for during the inspection period and in regards to the inspection. I make sure to always send over the inspection with your "ask" so that you have proof of the things you are asking for.

1) You can ask for repairs to be done. Note, a seller may not want to deal with this or know how. If that is the case then move to 2)
2) You can ask for the Seller to lower the sales price, but the estimated price of the repairs.
3) You can ask the seller to contribute towards the buyers closing costs. Often this will put more money directly into the buyers pocket so they can pay for the repairs. If you lower a sales price by $1-2k it does not really afect their mortgage. But $1-2k towards closing costs will come directly from the amount they need to bring at closing.

Submit your requests to the listing agent and be prepared to compromise. Also tell your clients that they may not get any concessions at all and may need to be prepared to walk away or accept the house as is.

 

POST OPTION

  1. Notify lender once they are ready to order the appraisal

  2. Review title commitment for any irregularities

  3. Guide buyer on Home Owners Insurance options and have them set it up

  4. Remind them to review utilities and set them up for move date

  5. Mail Forwarded submitted from old address

  6. Home Warranty set up: give client options and have them notify title to set it up

  7. Value Add: mail the Stress Kit (head massager and squishy ball)

 

CLOSING

  1. Schedule Walk through prior to closing with sellers agent

  2. Send docs to Victoria 5 business days prior to closing for CDA

    • See list of required documents 

    • Send her Title Company contact

    • Send her wire/check information

    • Send her CD once received and all final contracts she requests

  3. Schedule closing with Title and Buyer

  4. Value add: send JibJab on closing day or once closing is scheduled

  5. Arrange getting keys from Sellers Agent or at Title

  6. Value add: Get a closing gift, typically 6AH gift is the wooden box, cups, shot glasses, and TX Whiskey

  7. Meet buyer at closing and celebrate! If no walk through was scheduled, go with them to property to ensure everything looks correct

 

AFTER CLOSING

  1. Follow up with Buyers to make sure everything is okay and their move was successful
  2. Send them feedback survey and VIP form
  3. Value add: send Tiff Treats to their house once they move in

 

 

Helpful Information (click to see)