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BUYER'S GUIDELet's find your dream home!CHRISTIAN BURGOS302.363.8496 | Chrisb27@kw.com | Chrisburgos.kw.comKELLER WILLIAMS CENTRAL DELAWAREEach office is independently owned at operated

CONTENTSLet's Find Your Dream Home!Under Contract & In EscrowCleared to ClosePreparing to BuyBut 1st, Get Pre-Approved!House Hunting TipsHome Loan Application ChecklistHouse Wants & Needs ListWhich Loan is Right for You?What Not to DoFinal Steps Before ClosingSuccess StoriesMeet Your AgentTrusted LendersThe Home Buying ProcessBUYER'S GUIDEFinding Your Dream HomePre-Qualified vs Pre-ApprovedHomeowners InsuranceClosing DayTitle InsuranceQuestions to Ask LendersMaking an OfferNegotiations

MEET YOUR AGENTLet's ConnectChrisb27@kw.comChrisburgos.kw.com1671 S State St, Dover, DE 19901You can also find me on:302.363.8496Originally from New Jersey, Christian has observed his family find success inthe realty and property management realms. His passion and drive has grownover 20 years and he is eager to showcase his talent as an agent. As a veteran, Christian served his country honorably for over seven yearswith multiple tours overseas. Backed by these experiences, he learned valuableskills in communication, resourcefulness, problem solving, team work, andleadership. Christian is primed to find you the very freedom he protected inyour next real estate endeavor. A family man at his core, he resides in Smyrna, Delaware and is both ahusband and father to a beautiful family. Outside of being an agent, Chrisloves to spend his time on the golf course and doing DIY projects with his wifeand friends. Whatever your real estate need may be, Christian is someone you can trustand rely on to steward your journey in real estate. Furthermore, he will be youradvocate, your negotiator, and your teammate.

HouseShoppingGet YourKeys!Get Pre-ApprovedMeet withAgentUnderContractInspection& AppraisalMake anOfferTHE HOME BUYING PROCESS

PREPARING TO BUYSAVE FOR A DOWN PAYMENTCHECK YOUR CREDITDETERMINE HOW MUCH YOU CAN SPENDGET PRE-APPROVED FOR A HOME LOANAPPLY FOR VA CERTIFICATE OF ELIGIBILITYOR REQUEST ONE FROM YOUR LENDER

but 1st, get Pre-approved!H O U S E S H O P P I N G I S A NE X C I T I N G T I M E !G E T P R E - A P P R O V E D F O R AL O A N F I R S T S O Y O U C A N B ER E A D Y T O M A K E A N O F F E RW H E N Y O U F I N D A H O M E Y O UL O V E .

PRE-QUALIFIED VS PRE-APPROVEDWHAT'S THE DIFFERENCEBETWEEN BEING PRE-QUALIFIEDAND PRE-APPROVED?To be pre-approved, the lender will pull your credit and ask youfor documentation to verify your finances. Before making anoffer on a house, it is best to get pre-approved to show sellersyour offer is serious and that a lender has already approved youfor enough money to purchase the home.PRE-QUALIFIEDIn order to be pre-qualified, a lender may or may not check yourcredit score and won't require documentation, only going offwhat you tell them. This will give you an idea of what you couldqualify for, but when you're serious about buying, you'll need toget pre-approved.PRE-APPROVED

QUESTIONS TO ASKWHEN CHOOSING A LENDERWhich types of home loans do you offer?What will my interest and annual percentage rates be?Do I qualify for any special programs or discounts?What estimated closing costs can I expect to pay?What is your average loan processing time?Interviewing lenders is an important step in determining whattype of home loan is best for you. Not all lenders are the same,and the type of loans available, interest rates, and fees can vary.Here are some questions to consider when interviewing lenders:

TRUSTED LENDERSMOVEMENT MORTGAGE/ NICOLE POTTS(302) 399-8289Nicole.potts@movement.comMovement.com200 Continental Drive Suite 401 Newark DE 19713PRIMARY RESIDENTIAL MORTGAGE,INC./ JOHN THOMAS(302) 703-0727jthomas@primeres.com delawaremortgageloans.net248 E Chestnut Hill Road | Newark, DE 19713MAIN STREET HOME LOANS/VALERIE GOERTZ(302)531-5961vgoertz@mainstreethl.commainstreethomeloans.com33 South State Street Dover, DE 19901

To determine loan eligibility, lenders typically require the followingtypes of documents from each applicant:W-2s: last 2 yearsPay stubs: last 2 monthsBank statements: 2 most recent checking and savings account statementsAddresses for the past 2-5 years and landlord's contact info if applicable401(k) or retirement account statement and summaryAny additional income documentation: pension, retirement, childsupport, Social Security/disability income award letters, etcOther assets: statements and summaries of IRAs, stocks, bonds, etc.Documents relating to any of the following if applicable: divorce,bankruptcy, collections, judgements or pending lawsuitsFederal tax returns: last 2 yearsStudent loan statements: showing current and future payment amountsCopy of driver's license or ID and Social Security cardINCOME:ASSETS:OTHER:HOME LOAN APPLICATIONDOCUMENTS CHECKLIST

FINDING YOUR DREAM HOMECREATE A LIST OF WHAT YOU WANT INYOUR NEW HOME. INCLUDE MUSTHAVES AS WELL AS WHAT YOU WOULDLIKE TO HAVE BUT AREN'T DEALBREAKERS.

Ideal Square Footage:Desired Location/Neighborhood/School District:Move-In Ready Some Work Needed is OKMUST HAVE WOULD LIKE TO HAVEDetermine the features you are looking for in your ideal home andprioritize which items are most important to you. No house is perfect,but this will help us find the best match for you.____ Bathrooms____ Car GarageHOUSE WANTS & NEEDS LIST____ BedroomsSingle Family Home Townhouse CondoTYPE OF HOME:CONDITION OF HOME:Fixer UpperSmall or Large YardDESIRED FEATURES:(Circle)

HOUSE HUNTING TIPSWhen you find a home you want to buy, keep in mind there maybe others interested in it as well. Be ready to make a solid offerquickly in order to have the best chance at getting that home.When you visit multiple houses it gets difficult toremember specific details about each one. Take photos andnotes while touring houses so that you can reference themlater when comparing the properties that you've seen.Talk to family, friends and co-workers to see if anyonemight know of a house for sale in an area you're interestedin. One of them may even know of someone that's thinkingabout selling but hasn't put the house on the market yet. Drive around neighborhoods that interest you to get a feel ofthe area, how the homes are cared for, what traffic is like, etc.BE READY TO MAKE AN OFFERTAKE PICTURES & NOTESASK AROUNDFinding your dream home isn't always an easy task! Have apriorities list but keep an open mind when viewing houses. KEEP AN OPEN MINDINVESTIGATE THE AREA

MAKING AN OFFERCurrent market conditionsComparable properties recently sold in the areaThe property value of the houseThe current condition of the houseWhen we have found a home that you're interested in buying, we willquickly and strategically place an offer. There are several factors toconsider that can make your offer more enticing than other offers:ADD A PERSONAL TOUCHInclude a letter to the sellers with your offer, letting them know whatyou love about their home. Adding this personal touch can give you anadvantage over other offers by making yours stand out from the rest.PUT DOWN A LARGER DEPOSITAn offer that includes a larger earnest money deposit presents a moreserious and competitive offer.PAY IN CASH VS. LOANPaying in cash versus taking out a loan offers a faster closing timelineand less chances of issues arising, making it more appealing to sellers.OFFER A SHORTER CLOSING TIMELINEAn offer with a shorter timeframe for closing is generally moreattractive to sellers over one with an extended time period with a housesale contingency. A typical closing timeframe is 30-45 days.PUT IN A COMPETITIVE OFFERWe will decide on a reasonable offer price based on:

NEGOTIATIONSA seller can accept or decline youroffer, or come back with a counteroffer. If they send you a counteroffer, be prepared to negotiate tocome up with reasonable terms forboth parties. This process can goback and forth until an agreementis made.

UNDER CONTRACT & IN ESCROWCOMPLETE YOUR MORTGAGE APPLICATIONRENEGOTIATE IF NECESSARYOnce you've come to an agreement on the final offer, it's time to finalizeyour loan application and lock in your interest rate if you haven't doneso already. You may need to provide additional documentation to yourlender upon request. The home inspection will tell you if there are any dangerous or costlydefects in the home that need to be addressed. You can then choose toeither back out of the deal completely, ask for the seller to make repairs,or negotiate a lower price and handle the repairs yourself. Once you and the seller have agreed on terms, a sales agreement issigned and the house is officially under contract and in escrow.Here are the steps that follow:SCHEDULE A HOME INSPECTIONHome inspections are optional but highly recommended to make surethat the home is in the condition for which it appears. Inspections aretypically completed within 10-14 days after signing the sales agreement.ORDER AN APPRAISALAn appraisal will be required by your lender to confirm that the home isindeed worth the loan amount. The appraisal takes into account factorssuch as similar property values, the home's age, location, size andcondition to determine the current value of the property.PUT YOUR DEPOSIT INTO AN ESCROW ACCOUNTYour earnest money deposit will be put into an escrow account that ismanaged by a neutral third party (typically a title company or bank) whoholds the money for the duration of the escrow period. They will manageall the funds and documents required for closing, and your deposit willgo towards your down payment which is paid at closing.

Buy or Lease a CarChange JobsMiss a Bill PaymentOpen a Line of CreditMove Money AroundMake a Major PurchaseWHAT NOT TO DOIt's extremely important not to do any ofthe following until after the home buyingprocess is complete:DURING THE HOME BUYING PROCESSAny of these types of changes could jeopardize yourloan approval. It's standard procedure for lenders toalso do a final credit check before closing.

FINAL STEPS BEFORE CLOSINGINSURANCE REQUIREMENTSMost lenders require both homeowner's insurance and title insurance.See following pages for more detailed information on each of these.CLOSING DISCLOSUREAt least 3 days before closing, lenders are required to provide you witha Closing Disclosure with your final loan terms and closing costs foryou to review. Closing costs for the buyer typically range from 2-5% ofthe purchase price, which can include lender fees, lender's titleinsurance, and HOA dues if applicable.Within 24 hours of closing we will do a final walk through of the homebefore signing the final paperwork. This last step is to verify that nodamage has been done to the property since the inspection, that anyagreed upon repairs have been completed, and that nothing from thepurchase agreement has been removed from the home.FINAL WALK THROUGHNEXT STEP: CLOSING!

HOMEOWNERS INSURANCEHomeowners insurance protects your home and possessions againstdamage and theft and is required by lenders before finalizing yourloan. Policies vary and are completely customizable, so it'srecommended to get quotes from multiple companies to compareprice, coverage and limits.Most policies do not cover flood or earthquake damage, and you mayneed to purchase an additional policy for this type of coverage.WHAT DOESN'T IT COVER?Many insurance companies offer discounts to seniors, and also tocustomers who have multiple policies with them, like auto or healthinsurance. Having a security system, smoke alarms and carbonmonoxide detectors can also lower annual premium rates. Whengetting quotes, be sure to ask each company about their discountsand cost savings options.HOW CAN YOU QUALIFY FOR DISCOUNTS?Homeowners insurance typically covers destruction and damage tothe interior and exterior of a home due to things like fire, hurricanes,lightning, or vandalism. It also covers loss or theft of possessions,and personal liability for harm to others.WHAT DOES THIS INSURANCE COVER?Rates are mostly determined by the insurer's risk that you will file aclaim. The risk is based on your personal history of claims, frequencyand severity of claims, past history of claims on the home, as well asthe neighborhood statistics and the home's condition.WHAT ARE POLICY RATES BASED ON?WHY DO YOU NEED HOMEOWNERS INSURANCE?

TITLE INSURANCETitle insurance protects the lender and/or homeowner from financialloss against claims regarding the legal ownership of a home. While most lenders require a title search, the title insurance ensuresthat if anything is missed during the search, those insured will beprotected if any legal issues arise.IS A TITLE SEARCH SUFFICIENT?WHAT IS TITLE INSURANCE?There are two types of title insurance: one for lenders and another forhomeowners. Lender's title insurance is required by lenders but it doesnot cover you. A separate homeowners policy is needed to protectyourself from a claim on your home, and from being held financiallyresponsible for possible unpaid property taxes from previous owners.HOW DOES TITLE INSURANCE COVERAGE WORK?Title insurance is a one-time fee that is paid at closing, which costsbetween $500-$3,500 depending on the state, insurance provider andthe purchase price of the home. Some companies will offer a discountif you bundle the lender's and owner's policies, but typically the buyerpurchases the lender's policy and the seller pays for the owner's policy.HOW MUCH DOES TITLE INSURANCE COST?

CLEARED TO CLOSECLOSING IS THE FINAL STEP OF THE BUYINGPROCESS. ON THE DAY OF CLOSING, BOTHPARTIES SIGN DOCUMENTS, FUNDS AREDISPERSED, AND PROPERTY OWNERSHIP ISFORMALLY TRANSFERRED FROM THESELLER TO THE BUYER.

CLOSING DAYITEMS TO BRING TO CLOSING:Government Issued Photo IDHomeowner's Insurance CertificateCertified Funds or Cashier's CheckFinal Purchase AgreementOn the day of closing you'll be going over and signing thefinal paperwork, and submitting a cashier's check (orpreviously arranged wire transfer) to pay the remainingdown payment and closing costs. Congratulations, you made it to Closing!Enjoy your new home!

SUCCESS STORIES"Very personable and passionate about thejob.Very hard working and very resourceful,he always had my best interests in mind. If Iwas moving to another house in Delaware Iwould 100% use Chris again and wouldrecommend him to anyone doing thesame."-Gregory Mcbride"Mr. Burgos was a very professional through thewhole home buying process. He explainedeverything as I had many questions as a firsttime home buyer. Another thing I would like tomention about Mr. Burgos is his ability tonegotiate with other agents, and comeing to anagreement that makes both party's happy. Overall 10/10 was very happy with all aspects of thetransaction and home searching process".-Matthew CChris is a wonderful realtor! We as 20 yearold first time home buyer’s had no ideawhat to expect or how to go about certainthings you’d assume that might be stressfulbut Chris answered our questions and anyone he couldn’t he took the time to findsomeone who could. We felt very stress freebuying our lovely home.-The Maldonados

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