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Phyllis s educated buyers save time money My Buyers save time Phyllis J Turpen O Bryant Cannon Affiliate Broker A Broker Teamwork from the team that works turpenp realtracs com O Bryant Cannon c 615 438 0360 615 569 9232 C o 615 463 8740 85 White Bridge Road 100A Nashville TN 37221 turpenp www linkedin com pub phyllis turpen 9 27a 90 www phyllisturpen exityrealtydiversified com
Phyllis   s educated buyers save time   money  My Buyers save time                                                        ...
Buyer Process Home Search and Making an Offer Buyer Consultation What you are looking for in your new home explain the buyer process and answer your questions Loan Pre Approval If you have already been pre approved I will get to work building a relationship with your lender If you are looking for a lender to complete your pre approval I have three great partners to recommend Obtaining preapproval will help you determine your purchase price and timeline of purchase We will need this letter from the lender when we make an offer on your new home Home Search I will search the Multiple Listing Services MLS for homes that meet your criteria and set up notifications when those homes are available Together we will decide which homes to see and we will see as many homes as you need until we find YOUR home Make an Offer Counteroffer Negotiate Counteroffer until an accepted agreement is reached or not Accepted Rejected Start over with new offer or move on to another home Binding contract Phyllis J Turpen Broker 615 569 9232 O Bryant CannonO Bryant C phyllisturpen gmail com 615 438 0360 61 firsttimehomesavior aom www phyllisturpen exitrealtydiversified com firsttimehomesa firsttimeho g
Buyer Process  Home Search and Making an Offer Buyer Consultation What you are looking for in your new home, explain the b...
Buyer Process Under Contract to Due Diligence Binding Contract Congratulations you are under contract to purchase YOUR new home The price terms and conditions have all been negotiated and agreed upon Earnest Money This is money that you provide at the time we go under contract to demonstrate your commitment to the purchase Usually it is between 1 2 of the sales price and usually paid by check These funds will be counted towards your down payment at closing Start Loan Process Right after we go under contract your lender will help you officially apply for your mortgage loan You may spend a few days gathering necessary documents to complete this process The lender will be working on your loan approval for an average of 25 days though much of it will be behind the scenes Beginning of Due Diligence Home Inspection Period We will have negotiated a period of days between 10 15 for you re due diligence period During this time you will have the opportunity to order a home inspection and any additional inspections for issues such as termites radon and mold You may choose to have a survey completed of the property to determine exactly how much land you are purchasing Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Buyer Process  Under Contract to Due Diligence Binding Contract Congratulations you are under contract to purchase YOUR ne...
Buyer Process Contingencies to Closing End of Due Diligence Period Before the end of due diligence you may choose to negotiate repairs specific to safety home structure and function of major appliances You have the right to terminate the purchase contract and receive your earnest money back at any time for any reason before the end of due diligence through an amendment Appraisal Contingency If you are purchasing with a loan your lender will most often require an appraisal Even if you are a cash buyer you can request an appraisal contingency to protect your investment Your lender and I will set this date to ensure the appraisal can be completed before this contingency date If the home doesn t appraise we will have the opportunity to ask the seller to lower the sales price to meet the appraisal If the seller does not you have the right to terminate the contract and receive your earnest money back Clear to Close This is the green light from the lender that your loan has been approved all final conditions have been met and they are ready to disperse the loan amount to the attorney for closing We will have a chance to review the HUD 1 statement a day or two before closing to confirm everything is correct Closing Costs Your lender will discuss these costs at length with you but generally include your down payment minus earnest money loan origination costs closing fees and any portion of the taxes or utilities owed These funds will need to be wired to the closing attorney the day before closing The lender will give you a close estimate of the amount owed and you will be able to pay the difference or receive a check for nay overages at closing Closing Day The attorney will walk you through the closing paperwork and we will all be there to answer any questions you may have Congratulations on the purchase of your home Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Buyer Process  Contingencies to Closing End of Due Diligence Period Before the end of due diligence you may choose to nego...
Phyllis s 10 Customer Service Commitment As the REALTOR you have chosen to exclusively represent you in the purchase of your new home I promise that I will Provide you with 10 customer service during the entire buying process Organize and schedule your home search process Provide you with on going updates on available homes Help you to compare homes and make a decision Advise you on the terms and issues of the offer and complete the purchase offer contract Present you offer and negotiate on your behalf Answer any and all questions relating to the understanding of the contract including all exhibits contingencies and deadlines Offer quality recommendations of industry professional including lenders home inspectors closing attorneys Work with you to review your inspection report make recommendations of requests to make of the seller and negotiate your amendment to address concerns on your behalf Monitor all important deadlines and timelines including assisting with moving planning Keep in close contact with your lender at all times throughout the contract process to ensure appraisal and financing contingencies are met and negotiated as necessary Coordinate and supervise the preparation of all closing documents and guide you through the closing process Help you resolve any pre closing or closing issues Coordinate move in and assist with any post closing issues Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Phyllis   s  10  Customer Service Commitment  As the REALTOR you have chosen to exclusively represent you in the purchase ...
About Exit Realty Diversified Mission Statement EXIT Realty s mission is to build the largest and most productively successful real estate organization in North America with over 3 600 profitable brokerages and over 100 000 agents recruited EXIT Realty s Roots EXIT Realty Corp International opened for business in Toronto Canada on September 3 1996 and in record time EXIT has become the fastest growing full service real estate franchisor in North America The exclusive EXIT Formula is the reason for our phenomenal growth The EXIT Formula is Real Estate Re invented For the first time ever the concept of residuals taken from both the insurance business and the music industry has been introduced to the Real Estate industry Residuals are revolutionizing the Real Estate Industry fostering teaching training and coaching and creating profitability and financial returns that have been unheard of in years gone by Steve Morris EXIT Realty s Founder and Chairman has been referred to as the best recruiting sales manager in North America He has managed owned and operated some of the largest Real Estate offices in the world Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
About Exit Realty Diversified Mission Statement EXIT Realty s mission is to build the largest and most productively succes...
Costs to Consider When Purchasing Your Home Here is a list of expected and optional costs you may incur during the purchase of your home for informational purposes only Many of these you will discuss with your lender inspector and of course I will be available to help you make decisions regarding these costs This is not intended to be an exhaustive list and you must receive accurate quotes from the service provider directly Down Payment You will discuss and decide this amount with your lender While the seller could pay some of the cost of purchasing this is one that is not permitted to be paid by the seller This is exclusively the responsibility of the purchaser s Earnest Money When the seller accepts your offer you will be required to write an earnest money check to Exit Realty Diversified The amount of the earnest money will depend on the cost of the house Traditionally buyers will offer 1 2 of the home cost in earnest money Ultimately the amount you choose is solely your decision When in a multiple offer situation this is one area we can adjust strategically to help make our offer stand out Earnest money is not additional funds it counts towards your down payment at closing Closing Costs Your lender will discuss closing costs with you at length This can be a negotiating point as part of the contract as this is one of the costs sellers are permitted to pay on your behalf You should have a discussion with your lender about whether to ask the seller to contribute to closing costs and if so how much Home Inspection While not required it is strongly recommended that you have a home inspection completed on the property This is occur during your due diligence period and you will have the opportunity to confirm that the home is in the state the seller disclosed to you If it is not satisfactory you will have to opportunity to negotiate or decide not to buy the house You may choose to have additional inspections completed on your new home such as Radon testing Termite inspection Mold inspection traditionally only if your home inspector suggests it Survey of your property Many real estate professionals recommend a survey of your property Please refer to the information provided in the home inspection section of your buyer kit for more information Home Appraisal Your lender will discuss this potential cost with you Home Warranty Depending on the condition of your home you may wish to purchase a home warranty This is a cost that the seller is permitted to pay for if you wish to request they do so Please refer to further information in the home inspection section of your buyer kit for further information Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Costs to Consider When Purchasing Your Home Here is a list of expected and optional costs you may incur during the purchas...
The Top 10 Do Not s When Applying for a Real Estate Loan Do not change jobs become self employed or quit your job Do not buy a car truck or van or you may be living in it Do not use charge cards excessively or let your accounts fall behind Do not spend money you have set aside for closing Do not omit debts or liabilities from your loan application Do not buy furniture Do not originate any inquiries into your credit Do not make large deposits without first checking with your loan officer Do not change bank accounts Do not co sign a loan for anyone Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
The Top 10    Do Not   s    When Applying for a Real Estate Loan     Do not change jobs, become self-employed or quit your...
How to Buy a Great House There are many factors to consider when selecting a neighborhood that is right for you Below are just a few of the many factors you may think of others that are important to you Neighborhoods have characteristic personalities designed to best suit single people growing families two career couples or retirees Scout the Neighborhood It is important that you scout the neighborhood in person You live in more than your house Talk to people who live there Drive through the entire area at different times of the day during the week and on weekends Look carefully at how well other homes in the area are being maintained are they painted are the yards well cared for are parked cars in good condition etc Neighborhood Factors to Consider Look for things like access to major thoroughfares highways and shopping Listen for noise created by commerce roads railways public areas schools etc Smell the air for adjacent commerce or agriculture Check with local civic police fire and school officials to find information about the area Research things like soil and water Look at traffic patterns around the area during different times of the day and drive from the area to work Find out if the neighborhood is near parks churches recreation centers shopping theaters restaurants public transportation schools etc Find out if the neighborhood belongs to a Homeowner s Association Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
How to Buy a Great House There are many factors to consider when selecting a neighborhood that is right for you. Below are...
Things to Consider When Making an Offer to Purchase Legal Name s I ll need to know the full legal name of the person s securing the loan If there are any additional people spouse fianc partner who you would like on the deed to also own the home I ll need to know their full legal name Purchase Price Once you have chosen a house to make an offer on I will perform a comparative market analysis to help you determine market value and what you want to offer as a price for the house Closing Costs You will have discussed with your lender what the out of pocket closing costs will be for the home and loan amount you have chosen You will have the chance to ask the seller to contribute to your closing costs If the seller agrees to do so this will reduce the amount of money you will need to have at closing Closing Date The closing date will most of the time depend on what your lender requires to complete the loan process Traditionally this will be 30 45 days Please let me know if there are specific days that you cannot close because of personal or work travel or other plans If you are selling your home and moving into a new home we will work to make sure it is as smooth as possible Closing dates are always regular business days no holidays Earnest Money How much earnest money can you give at the beginning of the contract This money will be counted as part of your down payment It is not extra just needs to be paid up front Usually between 1 2 of the cost of the house is what buyers contribute in earnest money You will usually have 3 days to write the check it will be cashed and held by my broker until closing when it will be transferred to the attorney Closing Attorney We will have the chance to select the closing attorney of our choice If you have a business or otherwise relationship with a closing attorney you would like to use let me know If not I have a great relationship with the firm that works closely with my office that I usually select Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Things to Consider When Making an Offer to Purchase Legal Name s  I   ll need to know the full legal name of the person s ...
Due Diligence Period When we make an offer I ll need to know which inspections you plan to order Refer to the section on inspections potential costs for inspection choices There are certain inspections such as a survey of the property that may take longer than the traditional 10 days of due diligence If so I will want to make sure that the due diligence period is long enough to complete all the inspections Home Warranty Refer the section on Home Warranties in the Inspection section If you are interested in asking the seller to provide a 1 year home warranty for you let me know and I ll include it in the offer Response Time How long do you want to seller to have to respond to your offer 24 hours is pretty common but we can make it shorter or longer The longer the seller has to respond the more opportunity for them to receive other offers besides yours Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Due Diligence Period When we make an offer I   ll need to know which inspections you plan to order. Refer to the section o...
Things to Consider in Multiple Offer Situations Other Offers We will not be able to know the price terms of the other contracts It s part of the process that everything is kept with the listing agent You must make your best guess at what you will need to offer to beat the other offers How to Construct Your Offer to Appeal to the Seller It is not always about price but most of the time about price This is a time where market value may have less influence on your choice of price The true value of a home is what buyer s are willing to pay for it At your choice you may decide to offer a higher price than market value in an effort to have your contract chosen over the others Think about the most you are willing to pay even if it may not win you the house Other Terms All the other terms can influence the seller such as closing costs requested closing date length of due diligence the amount of earnest money asking for a home warranty and the type of loan you have I will walk you through the ways to make your offer more attractive in a multiple offer situation but ultimately the decisions are yours Personal Appeal This is not a strategy that works all the time and not all listing agents will present a personal appeal to their seller However if you are interested in writing a note to the seller as to what you enjoy about their home and why you think you are the best fit you may encounter a seller that is moved by your story Highest and Best Offer If we are the first to place an offer we may not know if other offers come after ours If there are any offers when we submit the listing agent will let me know and we will have a chance to submit a potentially more competitive offer In a multiple offer situation the listing agent may call for highest and best meaning everyone is aware there are multiple offers and can prepare a competitive offer However if the seller chooses to negotiate one of the original offers we may not have the opportunity to submit our highest and best Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Things to Consider in Multiple Offer Situations Other Offers We will not be able to know the price   terms of the other co...
Home Inspection If you are purchasing a resale property we highly recommend that you have a professional home inspector conduct a thorough inspection The inspection will include the following Appliances Plumbing Electrical Air conditioning and heating Ventilation Roof and Attic Foundation General Structure The inspection is not designed to criticize every minor problem or defect in the home It is intended to report on major damage or serious problems that require repair Should serious problems be indicated the inspector will recommend that a structural engineer or other professional inspect it as well Your home cannot pass or fail an inspection and your inspector will not tell you whether he she thinks the home is worth the money you are offering The inspector s job is to make you aware of repairs that are recommended or necessary The seller may be willing to negotiate completion of repairs or a credit for completion of repairs or you may decide that the home will take too much work and money A professional inspection will help you make a clear headed decision In addition to the overall inspection you may wish to have separate tests conducted for termites or the presence of radon gas In choosing a home inspector consider one that has been certified as a qualified and experienced member by a trade association ASHI or CABO certified are the two most commonly used certified inspectors used I recommend being present at the inspection This is to your advantage You will be able to clearly understand the inspection report and know exactly which areas need attention Plus you can get answers to many questions tips for maintenance and a lot of general information that will help you once you move into your new home Most important you will see the home through the eyes of an objective third party Phyllis J Turpen Broker 615 569 9232 phyllisturpen gmail com www phyllisturpen exitrealtydiversified com
Home Inspection If you are purchasing a resale property, we highly recommend that you have a professional home inspector c...