1. Buying that House

2. First things First What is the first thing you need to do if you are house hunting? Get Pre-qualified or Pre-approved

3. Pre-Qualified Pre-qualified means you have told a lender… Your income level Your debt Your credit information Then the lender ESTIMATES what you can afford

4. Pre-Approved Pre-Approved puts you much closer to the actual loan. This means the lender has… Done the legwork of pulling your credit report Checking your debt-to-income ratio Done an in-depth analysis of your financial situation

5. Benefits of Pre-Approved Extremely better to be pre-approved Added comfort of knowing what you can afford Seller may also accept your offer over another if you are pre-approved Why?

6. Need vs. Want Think about need vs. want in anything you do. – Especially with a purchase as big as a house Finding the perfect home may be impossible – Your dream home may not exist

7. Need Make sure to make a list of things you absolutely need – In your journal, write down things you think you would need for a home

8. Want Make a list of things you want – In your journal, write down things you think you would want in a home

9. Location is KEY Location, location, location One of the most important things to look for in a home is the location. Maybe you want…

13. Location Does it matter that some of those previous examples were important to you? No When it comes to sell the house, it may be the selling point for others. Write down as many things to consider when thinking about location.

14. Good Location Things to consider… Proximity to Town Proximity to Schools, to Work, to Parks, to Shops etc… Crime Rate Zoning (what’s going to be built next to you in the future?) Restrictive Covenants: Is there a certain way of doing things in the neighborhood Noise: Yampa vs. Barclay Neighbors: Do research…check the neighborhood during the day and at night – Why?

15. Realtor? When you search for a home, you have 3 choices. 1) Do it all by yourself – Search online, look in the papers, asking around 2) Call a Real Estate Agent 3) Sign a contract with a Buyer’s Agent

16. By Yourself What are some of the good about going in alone? Less Stress Look at house when you feel like it Don’t feel like people are waiting on you What are some of the bad about going in alone? May miss out on potentially great homes Only get to look inside homes during open house

17. With a Real Estate Agent A Real Estate Agent can usually show you the homes more often than you could by yourself Things to remember When you call a Real Estate Agent… They are ALWAYS WORKING FOR THE SELLER – Even if they are not the listing agent

18. Real Estate Agent Agents are paid based on commission – Based on selling price of the house The higher the sales price, the more money the agent makes How could this cost you? Finding a trustworthy agent is VERY important – Be careful though, because they are still salesmen/women

19. Real Estate Agent Tips when dealing with an agent Never ever reveal your highest price. Why? Because by contract, they MUST turn around and tell the seller everything you said Why should you never show emotion when looking at a house?

20. Real Estate Agent Remember The agent, by contract, is working for the best possible deal for the seller, not you. They can not disclose any information on the seller that might tip the scales in your favor – For example, they can’t tell you why the seller is moving or selling – Why?

21. Buyer’s Agent Many people have never heard of a buyer’s agent A buyer’s agent will do the following… 1) Will work to negotiate the best price 2) Keep your best interests and wallet in mind 3) Ensure the property is inspected 4) Make sure you have the representation you need

22. Assignment Take out a piece of paper and construct a blueprint of your dream home. One view from the top – List rooms One view from the outside – Show detail