1. Buying A Home? “Details To Follow” Tom Scaglione, e-PRO, SFR, REALTOR® 813-310-8200 http://www.TampaMobileRealty.com Tom@TampaMobileRealty.com ~ Tampa Bay Area Specialist ~ Click On Slide Arrows Below Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Detail Plan. Copyright 1995 - 2012 by Tom Scaglione, LLC

3. Why Buy?  Tax deductions  Stable housing cost  Appreciation of home  Equity gain in home  Control of your property  Buying for yourself not your Landlord… Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Copyright 1995 - 2012 by Tom Scaglione, LLC

5. What Type Of Home  Type of community  New home  Resale home  Fixer-upper home  Features  Bedrooms, how many?  Baths, how many?  Garage, Pool, etc. Copyright 1995 - 2012 by Tom Scaglione, LLC

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 is a must Copyright 1995 - 2012 by Tom Scaglione, LLC

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  Required by banks for REO and Short Sale purchase approvals Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Copyright 1995 - 2012 by Tom Scaglione, LLC

9. Fixed Rate Mortgage  Payments remain the same for life of loan  15 or 30 year repayment terms (interest lower on 15 year loan)  Advantages:  Predictability  Insurance against rising interest rates Copyright 1995 - 2012 by Tom Scaglione, LLC

10. Adjustable Rate Mortgage (ARM)  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 Copyright 1995 - 2012 by Tom Scaglione, LLC

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. Copyright 1995 - 2012 by Tom Scaglione, LLC

12. Special Programs Available  First time buyer  100% Financing (USDA / VA)  Low down payment (FHA / Home Path)  Interest only  Less than perfect credit  Heavy debt burden  Irregular income or self employed Copyright 1995 - 2012 by Tom Scaglione, LLC

13. Credit Scores  The minimum credit score to acquire a standard mortgage is 640  The higher the credit score… the better the interest rate Copyright 1995 - 2012 by Tom Scaglione, LLC

14. Tom Scaglione, e-PRO, Realtor Can Help  Guide you through the process of buying or building a home  Knows the community (Born and Raised Here)  Provide you with lists of homes that meet your specific requirements Copyright 1995 - 2012 by Tom Scaglione, LLC

15. Tom Scaglione, e-PRO, Realtor Protects 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” Copyright 1995 - 2012 by Tom Scaglione, LLC

16. How to Begin Looking For A Home  Get pre-approved  Complete a list of must haves  Start Looking at Homes w/ Tom  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 Copyright 1995 - 2012 by Tom Scaglione, LLC

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 (CMA)  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 Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Copyright 1995 - 2012 by Tom Scaglione, LLC

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 if you back out for anything other than one of the contract contingencies Copyright 1995 - 2012 by Tom Scaglione, LLC

20. Making the Offer  Tom, your REALTOR and buyer’s agent, Tom 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 of the offer  Offer Contingencies Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Copyright 1995 - 2012 by Tom Scaglione, LLC

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 Copyright 1995 - 2012 by Tom Scaglione, LLC

23. On Closing Day  Present your receipt for homeowners insurance or paid at closing  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 lines  You will pay all closing costs listed on the Buyer side of the HUD-1 settlement statement and receive a executed copy from the closing agent  The deed will be recorded and sent to you Copyright 1995 - 2012 by Tom Scaglione, LLC

24. My Credentials…  Serving the Tampa Bay Area for 30 plus years  Native born, so I know the market in the Tampa Bay Area  Member of the Greater Tampa Association of Realtors® (GTAR) (Past President)  Member of the Florida Association of Realtors® (FAR)(Past District 6 Vice President)  Member of the National Association of Realtors® (NAR)  Member of the My Florida Regional Multiple Listing Service (MFRMLS)(Past President) Copyright 1995 - 2012 by Tom Scaglione, LLC

25. My Credentials… Continued  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 Copyright 1995 - 2012 by Tom Scaglione, LLC

26. Congratulations… You are now a Homeowner!! Helped by Tom Copyright 1995 - 2012 by Tom Scaglione, LLC

27. For All Your Real Estate Needs Contact Tom Scaglione, e-PRO, SFR, Realtor® Future Home Realty, Inc. 813-310-8200 http://www.TampaMobileRealty.com Tom@TampaMobileRealty.com ~ Tampa Bay Area Specialist ~ Copyright 1995 - 2012 by Tom Scaglione, LLC