1. Buying Real Estate An Overview John O’ConnorJason Highland Keller Williams Realty Boston-MetroKeller Williams Boston-Metro 617. 861.3642 tel.617.861.3621 tel. John@BostonCity Homes.comJason@BostonCityHomes.com

2. Why This Meeting? Education Understanding your rights. Smarter clients are better for everyone! Prepared buyers can act faster if needed. Meeting state and ethical requirements. Providing an overview of the buying process Knowing what to expect so there are fewer surprises along the way. Explaining how I work.

3. You Have Four Options Do nothing. Decide to work on your own. Decide I’m not the one for you. Decide to work with me.

4. Buying Your First Home Step By Step

5. Step 1 - Start with the Lender Ensure that you can get a mortgage. Understand how much you can spend. Get pre-approved before you look: What is pre-approval? How does it work? How is it different from pre-qualification? Why does it make you a stronger buyer. I can help refer you to excellent mortgage brokers if you don’t already have one.

6. Step 2 – Where I Come In Consultant vs. salesperson Help you determine what’s important to you Act as your guide in your new home search Set up showings Watch the market, preview properties Provide you with the information that you need Lead you through the negotiating process Coordinate smooth interaction between all parties (buyer, seller, real estate agents, mortgage brokers, attorneys) Answer questions and guides you through the closing process and beyond Stay with you beyond the closing

7. Step Three – The Search Begins MLS & Link search tools Daily LINK & MLS updates Additional pix, v-tours and info (MLS listings) Broker previews Peer networking LINK Database MLS Database Client ToolsAgent Tools Boston Homes E-mail updates Realtor.com

8. Step Four – Viewing Property Scheduled Appointments: Typically arranged by me, along with the listing agent. Normally requires 24 hours notice. Sunday Open Houses: I can accompany you, or You can go on your own. Let the agent know you’re working with me. If you must sign in, sign in with my name. Do not contact other agents directly! If you see something that interests you, call me and I will get the information on your behalf.

9. Step Five – The Purchase Process Offer To Purchase Outlines basic terms and conditions of the sale Price, dates, conditions, financing $1,000 check Is a serious legal commitment May take several rounds to come to agreement Inspection Chance to understand condition of property Renegotiate some terms based on report if necessary Purchase & Sale Standard agreement outlining all the specific legal requirements between buyer & seller Typically need 5% to 10% down at P&S Mortgage Commitment Last date by which you can exit the deal for failure to secure financing Closing Signed, sealed, and delivered!

10. Cost to Think About Purchase Costs $1,000 at Offer 5 – 10% at Purchase & Sale Any additional down payment at closing Additional Fees Lawyers fee for Purchase & Sale Bank fees for Mortgage Closing costs Lawyer fees for handling the closing Title insurance Miscellaneous fees Tax escrows These can vary greatly

11. Big Picture Timeline Get Ready Mortgage Pre-Approval Search Offer Negotiation Closing Inspection Date 5-7 Days P&S Date ~10 Days Mortgage Commit. Date ~ 30 Days Closing Date ~ 60 Days BR!

12. Work with a Buyer’s Agent Buyer’s Agent: Works for the you. Puts the your interests first. Usually paid by the seller. Consults with you, offering you: Opinion, strategy, insight Legal and ethical responsibility to treat both parties fairly.

13. Baseline Services Provide ready access to inventory via LINK & MLS Provide basic data on values and taxes. Provide basic neighborhood info. Provide overview of the whole home buying process. Make referrals to lenders. Show properties and describe basic attributes and amenities. Explain & review standard forms. Submit and negotiate offers. Disclose material & known facts about the property. Offer property without regard to race, creed, sex, religion, national origin, familial status and sexual orientation. Monitor deadlines subject to final review and enforcement by buyer’s attorney.

14. Consultative Services Enter into an agreement with the you representing your interests. Provide insight and opinions on merits and/or drawbacks on individual properties including resale potential. Provide analysis and guidance as to value of any property you may consider purchasing. Provide guidance and advice in drafting offers. Consult with you regarding strategy & counter offers. Provide referrals and recommendations for home inspectors and attorneys. Keep all information confidential including: motivation for purchase and highest amount you may be willing to pay.

15. Massachusetts: A Special Case Dual Disclosure What happens when a Buyer Client wants to buy a property listed by his/her Agent? Because the agent is likely to be privy to information on both the Seller’s and Buyer’s side… Agent can not advocate for either side. Agent acts as facilitator to bring together both parties. Agent has a legal and ethical responsibility to treat both parties fairly. Agent must disclose this situation to both parties and both buyer and seller must agree to dual agency. This also happens when a Buyer’s Agent client wants to buy a property listed by that Agent’s office

16. Now Let’s Talk About Me… Buying a home is serious business and I take your business very seriously. But we will have fun I promise! My commitment to my clients: Keep the # of clients low in order to provide outstanding service Referrals Focus my efforts on my clients, not on finding new ones. The transaction is important, but our overall relationship is critical. I want to earn your referrals. I will not vanish after the sale. Consultative approach. Information, not pressure. Our Agreement... If we decide to work together we will memorialize our agreement in writing.

17. Forms Forms Forms! Agency Disclosure What the State wants you to know Buyer Agency Agreement Consent to Dual Agency So I can show you our office listings Inspection Fact Sheet What you need to know about home inspections Lead Paint Disclosure State mandated lead paint form

18. After Closing Ongoing relationship! Use me as a resource. I will continue to stay in touch with you as a client (and if in the city, as a neighbor). Referrals If you are happy with me, then let me help people you know as I helped you. Best way to let me know I did a great job is to refer people to me.

19. Contact Information John O’Connor 617.861.3642 tel. 617.542.0012 fax. John@BostonCityHomes.com Jason Highland 617.861.3621 617.542.0012 Jason@BostonCityHomes.com