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Home Buyer Guide

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Your Needs are Important Wants Needs Price Range Desired Location Let s Get Started Fiduciary Obligation to YOU We work in your best interest through every phase of the home buying process Enter your requirements into the Multiple Listing Service MLS What s Next Sign Agency Agreement You will receive a tailored list of homes Automatic e mails of new listings We will view the homes you are interested in

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from the team Homes are lifetime investments coupled with strong personal ties The purchasing of a home ranks among my clients most important experiences and we approach our task with sensitivity concern and professional competence We have taken the time to create this home buyer s guide for you as a resource on your real estate journey We are always here to help explain any parts of the process or the vocabulary included with it We will be working together as a team to find your dream property Not only do I have a tremendous amount of industry experience but also have a firm grasp on the opportunities currently presented within this real estate market We will walk you through the entire buying process taking time to carefully listen to your real estate wish list We will present you with options working in a proactive manner to enable you to find the property that exactly matches your list of criteria Now is the best time to buy a home Don t let an opportunity pass you by

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For All Borrowers Copies of last two years W 2 s Canceled earnest money check when it clears or corresponding Copies of last 30 days paycheck bank statement if applicable stubs Commissioned or bonused income Copies of last 3 months checking if 25 or more of base must saving account statements have tax returns Copies of quarterly or semi annual Check for the expense of appraisal statements for checking savings credit report IRA s CD s money market fund stock 401k profit sharing etc Copy of sales contract when ratified Any assets used for down payment closing cost cash reserves must have paper trail If paid off mortgage in the last 2 Employment history for the last two years need copies of HUD1 years address any gaps of employment Copy of drivers license for applicant co applicant Residency history over the last two years with name phone number address account number of Land or Mortgage Company

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Self Employed Borrowers Copies of most recent 2 years Docs May Be Required cont Divorce Decree if applicable tax returns with all schedules including K 1 s if applicable Documentation supporting moneys received from social Copy of current profit loss security retirement income i e statement balance sheet copies of direct deposit bank statements awards letter evidence Copy of corporate partnership tax income will continue returns for most recent 2 year period if owning 25 or more of Docs Needed for FHA VA Loans company copies of W 2 s and or 1099 forms FHA Copy of social security card drivers license for each Docs May Be Required Relocation Agreement if move is financed by employer i e buyout agreement plus documentation applicant co applicants VA Original Certificate of Eligibility copy of DD214 Discharge Paper outlining company paid closing costs benefits VA Name address of nearest living relative Previous bankruptcy need copies of petition for bankruptcy discharge including supporting schedules

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Home Requirements Home Style Ranch 2 Story etc Must Have Age of Home Garage Spaces Bed Bath Like to Have Price Range Finished Square footage Size of Lot Notes Other

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DISTRESSED PROPERTIES SHORT SALE A short sale is when the proceeds of a property sale fall short of the balance remaining on the property s mortgage loan In other words the seller owes more on the property than what he or she is selling it for The bank has to agree to discount a loan balance or take less money than what s owed Short sale contracts state that the seller will not perform inspections or do repairs Some buyer loan types require home to be in move in condition don t work short sales FORECLOSURE A Foreclosure is a bank owned property that was taken due to non payment of the mortgage No sellers disclosure Banks don t know homes condition Have an inspector perform a full home inspection Bank s will not perform any inspections make repairs and provide no warranties Risk is the possibility of unknown conditions However home may be purchased at a below market price providing the buyer with built in equity

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Types of Properties For Sale By Owner A homeowner trying to sell For Sale By Owner is hoping to saving on the commission If an agent introduces a buyer to the property many times a homeowner will work with that agent If you should see a home For Sale By Owner and want the advantages of our services please let us contact the owner set the showing New Construction The builder has an agent protecting his interest You should have one as well These transactions are complex contract details must be handled in order to protect you and ensure you get exactly what you want Builders have single price policy you are charged the same with or without an agent Builders make you give up your right to representation if you visit model home without an agent

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Meet Krista Krista Hartmann Team Leader Krista moved to the St Louis area in 2014 and enjoys all of the restaurants events and activities that St Louis has to offer She was born and raised in Marysville Ohio and enjoys going back to visit her parents whenever possible In her spare time Krista enjoys playing the piano and singing taking walks with her husband and two dogs entertaining in her new house and hanging out with her two grown children Formerly a teacher Krista started her real estate career in 2011 and has greatly enjoyed helping both buyers and sellers with all of their real estate needs She does everything she can to create a positive home buying or selling experience for her clients She is quick with open and consistent communication and uses her skills in negotiation to obtain the best possible results Krista has helped over 300 clients buy and sell real estate in the greater St Louis area since 2015 She looks forward to helping many more in the years to come

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Normally written on standard contract form Will include Price Terms Closing Date Seller Options Accept Reject Counter Negotiation until parties reach an agreement In some cases Seller may receive and choose another offer OR may ask you to submit your Highest Best Offer When an agreement is reached with a Seller on terms and price you will have what is called a pending contract We will make sure that every detail is handled accurately and immediately We will ensure that your homes closes properly and on time

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Meet the team Tammy Halveland Buyer specialist Tammy joined The Hartmann Home Team in 2019 She was born in rural Iowa and moved to St Louis in 1994 After spending 24 years in the paper sales industry she decided to pursue her passion of sales in real estate In her spare time Tammy enjoys spending time with her husband kids and pets as well as watching St Louis sports Her favorite sports team is the Special Olympics Falcons She has coached the team with her family for over 10 years in basketball soccer and softball and will continue to do so for many years She strives to provide a great buying experience for her clients through her many years of negotiation experience communications and superior customer service She would love to help you find your new home Nathan joined the Hartmann Home team in 2021 He was born and raised here in St Louis After spending time as a Lutheran School teacher and youth director for his church he decided to pursue his passion of real estate sales In his spare time he enjoys going on walks with his wife Jenna and their puppy Penelope They love exploring St Louis City and all of the unique shops and restaurants Nathan spends time volunteering at his church especially helping with the youth group and Sunday worship volunteers As a former educator and coach Nathan has a heart to guide his clients to make an informed decision on purchasing their new home while providing superior communication and support He would love to help you find your next home Nathan Dehn Buyer specialist Stacy Knorp Client Care and Media Specialist Stacy has been with the Hartmann Home Team since 2016 Formerly an educator Stacy now manages much of the marketing for the Krista Hartmann Home team Using her creative background as an Art teacher she designs professional printed and digital media to help make a home listing stand out in the crowd

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Estimated Time Frame Deposit earnest money check Make loan application Arrange for property inspections Investigate availiability of homeowner insurance Order a title commitment Attend property inspections Make repair requests to seller Confirm mortgage company received all requested info Order the appraisal Order the survey Confirm mortgage company received all requested info Order the appraisal

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Estimated Time Frame Confirm that repairs have been completed Schedule mover Obtain occupancy permit if applicable Arrange for transfer of utilities for day of closing Walk through home to verify completed repairs Arrange cashier s check for closing Arrange for settlement signing of papers Arrange for exchange of keys and personal items

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HOME INSPECTIONS Asbestos Building Environmental Fireplace Gas Lines Fuel Runs HVAC In Ground Sprinkler Lead Mold Air Quality Pond Lakes Pool Spa Radon Security System Septic and or Well Sewer Lateral Water Stop Box Termite Pests Water Quality DO I REALLY NEED AN INSPECTION You might question the necessity of an inspection on new construction However realize that even though city inspectors have passed certain phases of the construction process and the home has received a certificate of occupancy there could be numerous small items that may require attention that may or may not surface during the course of homeownership and yet could be a potential structural or safety hazard

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Home Warranties are not a guarantee but a mechanical service contract They provide some protection for the buyer from unexpected repair bills during their first year of ownership At the buyer s option they can be renewed PEACH Plumbing Electrical Appliances Cooling Heating Authorized repair or replacement when any of these items have mechanical failure Expected with a warranty that all items are in good working order at the time of closing o This is why a comprehensive inspection is so important Need to decide what level of coverage you want Cost is approx 450 650 depending on coverage Review the coverage of available policies to ensure you get the coverage you want When you have a claim o Don t call your own contractor without first calling the warranty company and getting permission o Most warranty companies won t reimburse for work done outside warranty o Know make and model of item you are calling for o Call 800 provided with warranty paperwork

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As soon as your offer is accepted call your insurance agent and verify the availability of coverage for your new home Insurance rates availability are affected by several factors The CLUE Report o CLUE is a database of insurance claims on properties in US Credit Score o CLUE Reports are used by insurance companies to decide whether to insure a property Possibly your past record of filing insurance claims on other o Many insurance companies will not properties insure a property if a CLUE Report reveals that it has had too many The CLUE report for the property you are buying past claims or certain types of claims o Unfortunately there is no standard among insurance companies about what are too many claims to result in a denial of coverage

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TITLE INSURANCE What Is a Title Insurance Policy A guarantee by title company that an investigation of the title to the property has been conducted and that they will provide you coverage for future claims including defending your title in court and bearing costs of settling claims Begins with search of public land records affecting the real estate being purchased to determine whether the property is insurable Looking for any documents in the property s history that don t clearly transfer title Deeds wills trusts that contain improper wording or incorrect names Outstanding mortgages judgments or a lien against the property may exist because the seller has not paid taxes Pending legal action against the property that could affect the purchaser Must know all claims on property and have them resolved and removed from the policy prior to you taking title to the property so title can be legally transferred to buyer and used as security for the lender s funds Why title insurance is required by the lender Lender has an interest in knowing that you the lender are the only parties with claims to the property When title insurance is issued the title insurance company accepts responsibility for all claims on the property prior to your purchase if they do not find the claim or call it to your attention prior to your purchase The original premium is your only cost as long as you or your heirs own the property No annual payments required to keep your Owner s Title Policy in force prior to your purchase

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LOAN APPROVAL Prior to closing you will need final approval on your financing To do this you will need Always submit documentation in a timely manner Provide the lender with additional documents required Stay in touch with the mortgage officer DO NOT Retire quit your job or make any big purchases I will also ensure things are in place to close Communicate with the title company about data needed to complete docs Stay in touch with the mortgage officer

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WHAT TO BRING TO CLOSING Bring a photo ID and a check with certified funds We will secure a walk through 24 48 hrs prior to closing You will receive a complete set of documents at closing

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Your lender will provide you with a settlement statement that shows exactlywhat you will owe 1 3 days prior to closing SELLER normally BUYER normally Existing loans on property if not assumed by Buyer Hazard insurance premium s and flood insurance premium if required by lender Any expenses of Buyer s loan agreed to Title company charges customarily paid by Seller Survey and title company charges customarily paid by Buyer Any charges imposed by lender Municipal Conservation District and fire district inspection fees Building termite and environmental inspections Special taxes and special assessments levied before Closing The fair market value of any heating oil or propane gas in tank s on the property at closing Real estate compensation to broker per separate written agreement Agreed upon repairs Taxes and some utilities are prorated at closing Real estate compensation to broker per separate written agreement Municipal occupancy permit Agreed upon repairs Taxes and some utilities are prorated at closing

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After the seller receives their funds and the possession time arrives pick up the keys and move into your new home Arrange for moving furniture personal belongings either by hiring a moving company or renting a truck Gather moving supplies boxes tape bubble wrap etc Plan travel itinerary make transportation lodging reservations in advance Develop a plan for packing Create contact list of people to notify Notify past employers of your move to make sure that you receive W 2 forms retirement account info Notify federal and state taxing authorities

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Moving Time Line Notify present utilities to have service taken out of your name as of closing arrange for services new address Recruit people to help you on moving day Arrange for care of children pets during the move Confirm moving company or rental truck arrangements Notify everyone on your contact list of your move date Keep moving materials separate so they don t get packed until you are finished Pick up rental truck if moving yourself Fill up car with gas and check oil and tires

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