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THE
Complete Home
Buying Experience
KEVIN REID SHIRLEY
Long & Foster Real Estate
(202) 320-6634
Questions & concerns
What questions can I answer before we get started?
How I work
How does a buyer agent get paid?• Who pays the
commission?• When is the
commission owed?
• When is the commission paid?
How agency works
Thoroughly boring (but important!) agency laws
• In DC & Virginia, the legal presumption is that all agents involved in a transaction represent the SELLER.
• In Maryland, the legal presumption is that the buyer’s agent represents the buyer’s interest and the listing agent represents the seller’s interest.
• What does this all mean for you?
2 You’ll have a follow up phone call to
complete your loan application and review
your loan scenario
The pre-approval process
Understanding what is important to you about your
home loan
A loan officer will email
you a checklist of
information we need to
get you approved
1
You’ll meet face-to-face to
review your financing options
and what’s important to you
about your home loan
3
Your loan officer will help
you select the loan
program that best suits
your financial profile
and goals
4
Clear & open communication
You’ll receive cost & payment estimates on all loan programs of interest from
your loan officer
1
Your loan officer will likely call you
periodically to check in and see how your
home search process is going
2
You’ll speak periodically over the
phone to review current market
conditions & answer any questions
you may have
3
You’ll receive advice on market
conditions to help you determine the
best time to lock your interest rate
4
A reputable loan officer is instrumental in a
successful transaction
Shopping for your new home
We’ll work together to identify the kind
of home you’re looking for
1
I’ll help you set up an
automatic MLS search
2
You’ll begin receiving periodic e-mail
updates with new listings
3
You’ll begin to narrow your search by
vetting locations and neighborhoods
4
Finding your new home is a process of
elimination, rather than one of selection…
The market
Three kinds of real estate transactions today
1. Traditional sale (homeowner buyer)
2. Short sale (homeowner/bank buyer)
3. Foreclosure (bank buyer)
Helping you negotiate and structure the offer
My promise to you:
Carefully review and
work with you on all
offers
1 Provide updated cost
and payment sheets
for the specific
properties you are
interested in
2 Obtain an approval letter for
each offer you make to create a
solid transaction that will close
on time without any surprises
3
Complete transaction management
In the four-to-six week period before
settlement, many details must be
monitored. I will::
Manage all the
details of your
purchase transaction
on a daily basis
1 Work with your loan officer
to stay on top of all
financing matters to be sure
your real estate transaction
closes in a timely fashion
and with as little stress as
possible
2
The day of settlement
I recommend taking
the day off from
work!
1
You may need to go
to your bank to
secure your certified
funds.
2
Meet at the property
for the final
walk-through
3
EAT!4
Head to the
settlement office.
5
My goal is to make settlement day fun and
stress-free …
Sign a bunch of
papers promising to
pay the bank back.
6
Shake hands, get the
keys, exit stage left.
7
Your housewarming partyAfter settlement
Go back to the property (secure, change locks)
Now the real work begins!
1
Move!2
Plan your housewarming party!3
Even after your settlement, I’ll be there to assist you with all your homeownership needs.
My client appreciation program
Service before, during & after the sale
Oh, by the way®
...
I’m never too busy for any of your referrals!
1
You’ll receive valuable information from me in the mail or via email on a monthly
basis to keep you educated and informed.
2
Consider me your source of referrals for all types of businesses, whether
related to your buying process or not. I’ve partnered with competent
professionals who would be happy to serve you!
3
