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10 Biggest Mistakes Everyone Makes
When Buying or Selling Real Estate

  1. Not finding the right Real Estate Agent.
  2. Not knowing what the Buyer or Seller Wants.
  3. Not Pricing a Property properly.
  4. Not knowing how to structure a more profitable transaction.
  5. Not knowing how to Sell a Property quickly & easily.
  6. Not knowing what clauses to use or avoid in Real Estate Contracts.
  7. Not knowing how to save substantially on taxes when Selling a Property.
  8. Not offering Seller-Financing when Selling.
  9. Not offering Seller-Financing when Purchasing.
  10. Not understanding how to safely earn 20% or more with Trust Deeds & Mortgages.

Home Buyer Services

1. SELECT AN AGENT:

Suzette and her Team of Real Estate Professionals are full-time agents with extensive market knowledge. We will work closely with you to find the right home.

2. INITIAL CONSULTATION WITH AGENT TO EVALUATE YOUR NEEDS:

Once we have establish your basic purchase needs, we will provide you with the guidance that you need to get officially pre-approved with the best financing that is available at the time.


We want to be able to submit your offer with a pre-approval letter, which makes your offer more serious than those who submit purchase offers without approval.

Once we know how much you will qualify for we will start looking for your home - via MLS, Newspapers, FSBO, etc,.


We will inform you of these properties - Face to Face, via Email and/or by mail.

3 IDENTIFY YOUR FUTURE PROPERTY

Once we have Identified your future property we put your estimated pre-approval letter together with the offer.

4. DETERMINE THE SELLER'S MOTIVATION:

Determining the Sellers Motivation is vital - the more motivated the Seller is the better offer we can get you, if the Seller is willing to sit it out for a while until he/she gets a better offer, then he/she will typically keep his/her listed price the same and wait for an offer of his/her choice.

5. WRITE THE OFFER TO PURCHASE:

We write your Purchase Offer with contingencies that protect our Buyers. Our Agent/Brokers are throughly trained on Contract Law and the structure of how to write a 'Purchase Offer'.


A
long with the 'Purchase Offer' you must provide your Agent/Broker with a 'Good Faith Deposit' check this check can either go towards your Purchase Closing Costs when you close or be applied to the Purchase Price of the House. This check is consideration on your part to show the Seller that you are serious about purchasing his/her home and makes the 'Purchase Contract' valid.

6. PRESENTATION OF OFFER:

We will present your 'Purchase Offer' and your 'Earnest Money Deposit' check to the Seller. The Seller has three options, they can:

  • Accept your offer,
  • Counter your offer,
  • Reject your offer.

If they 'Accept Your Offer' you have a home. If they 'Counter Your Offer' it may be on the account of Price or Terms, we talk to you about the counter and what it means and negotiate a happy medium between you and the Seller. If they 'Reject Your Offer' it may be for a varety of reasons, (a) they may have received a better offer and accepted that instead of yours, (b) they may not have liked any of the Price or Terms that were listed on your Purchase Offer, or (c) they may have had a total change of plans in Selling their property and want to take their property off of the market.

7. WAIT FOR THE SELLER'S RESPONSE:

We will inform you of the Sellers response what ever it is and let you know what the next steps are in the 'Purchase Offer'.

8. OPEN ESCROW WHEN YOUR PURCHASE OFFER IS ACCEPTED:

When the 'Purchase Offer' is accepted, it will be signed by all parties, we will open escrow for you. At this time your "Earnest Money Deposit" will be deposited into a neutural Escrow Account and held their until the Close of Escrow. We handle all of the paperwork for you from start to finish with all the parties involved in the transaction.

9. DISCLOSE, INSPECT AND PASS THE CONTINGENCY PERIOD:

This is a set limited time period that you will have to complete all purchase requirements. It includes, but is not limited to financing, inspections and/or any other contingencies that may be set in place by the Buyer or Seller. Contingencies are subject to the close of your home, if all required contingencies are not met your home will not close as planned.

Contingencies include clauses and requirements such as:

  • Approval of the Seller's TDS,
  • Approval of the Preliminary Report (Prelim),
  • Appraisals and Loan Approvals (if required),
  • Inspection and certifications.

10. GET HOMEOWNERS INSURANCE:

We will coordinate between Real Estate Agents, Insurance Agents, and Escrow and Title Officers to make sure your policy is in effect by the close of escrow.

11. DOWN PAYMENT AND/OR CLOSING COST FUNDS:

Down payment funds, must be liquid funds either in a money order or cashier's check, these funds must be prepared and ready to give before the close of escrow. The type of loan you get will determine how much you will need for your down payment.

For example: if you purchase a $200,000.00 dollar home and have a 97% loan, you will need to come up with a total amount of $6,000.00 dollars at close. But if you have a 100% loan their will be no down payment for you, all you would need is your closing costs fees which include your Loan Origination, title and escrow, etc.,

12. CLOSE ESCROW:

After all the conditions and contingencies have been met, you will be ready to close. You will meet with your Escrow Officer and sign all of your loan documentation's and closing papers. At that time the close will occur and the new deed will be recorded and you will take ownership of your new home.

We show you the Simple '12 Step Purchase System'
so you can get the home you want.

7676_Hazard_Center_Drive_5th_Floor_92108.jpg

Home Sellers Services

Our system consist of steps that are taken on every listing, offer and sell, that's what makes us different. To find out more about what we can do to better sell your home read the following:

DURING THE LISTING PERIOD:


1.   The legal description of the property is researched,

2.   All comparable that have just currently been listed for sale are researched,

3.   All comparable properties in the area that have sold are researched,

4.   A property profile on the listed property is ordered,

5.   A plat map is ordered,

6.   The lot size confirmed,

7.   Interior room sizes measured,

8.   Land use researched,

9.   Zoning researched,

10. Required elementary, junior and high schools listed,

11. The property profile is reviewed for related, similar and other features,

12. Financial alternatives are examined and created,

13. The specific marketing plan is designed,

14. The plans for the marketing campaign is launched,

15. A marketing plan of action is in process,

16. Brochures are created,

17. Newspaper and other publications are created,

18. Loan company and loan number available,

19. Current loan information verified by lender,

20. Loan assumption requirements researched,

21. Second loan company and loan number from seller,

22. Second loan information verified with lender,

23. Review current appraisal, if available,

24. Copy of by-laws required, (if condo),

25. Homeowners' association services offered, (if condo),

26. Copy of complex layout, (if condo),

27. Sign ordered,

28. Sign installed,

29. Brochure box installed,

30. Color photo taken,

31. Average utilities researched,

32. Property inclusions and amenities are noted,

33. Ads written,

34. All prorations researched and noted,

35. All rents and deposits verified,

36. Copy of leases provided,

37. Coordinate showings with tenant, (if applicable),

38. Repairs and maintenance completed,

39. Homeowner warranty made available,

40. Homeowner warranty application completed,

41. Homeowner warranty application mailed,

42. Homeowner warranty received,

43. Homeowner warranty filed,

44. Note all unrecorded property liens or agreements,

45. Marketing brochures prepared,

46. Marketing brochures put in brochure box,

47. Mail brochures to the top 10% of agents,

48. Mail out "for sale" announcements to neighborhoods,

49. Advertise in newspaper on rotating basis,

50. Write ad for home magazines,

51. Advertise in home magazines whenever necessary,

52. Loan information reviewed and filed,

53. Feedback letter sent to agents after showing,

54. Pre-qualify all buyers whenever possible,

55. Price change on brochures,

56. New brochures are delivered as needed.


AFTER AN OFFER IS MADE:

57. Contact selling agents to discuss, buyers' qualification,

58. Offer reviewed with all parties,

59. All responses are reviewed,

60. All needed forms are presented to complete the sale,

61. Offer is accepted, amended or countered,

62. Signed offer is delivered to selling agent,

63. Contract is signed by all parties,


DURING THE CLOSING PERIOD:

64. Copies of contract to selling agent,

65. Copies of contract on file,

66. Original documents filed with agent obtaining offer,

67. Earnest money is deposited in escrow account,

68. Fax copies of contract and addendum to lender,

59. Confirm purchase pre-qualifications,

60. Review credit report results,

61. Assist in arranging financing,

62. Coordinate discount points being locked with dates,

63. Provide comparable sales for appraiser,

64. Schedule appraisal,

65. Follow-up on appraisal,

66. Appeal for increase, if appraisal is low,

67. Verification of deposits and employment returned,

68. Follow loan processing through the underwriter,

69. Contact lender weekly to track processing,

70. Fax copies of contract to the title company,

71. Confirm loan payoff statement ordered,

72. Contact existing lender for assumption requirements, (if any),

73. Compile all required items for assumption,

74. Submit all required items for assumption,

75. Order title insurance commitment,

76. Coordinate meeting all title insurance requirements,

77. Confirm buyer received title insurance requirements,

78. Have buyers hazard insurance delivered,

79. Provide homeowner's warranty for closing,

80. Coordinate home inspection,

81. Review the home inspection results,

82. Negotiate payment and completion of required repairs,

83. Inspection clause requirements completed,

84. Deliver unrecorded property information to buyer,

85. Copy of septic inspection report delivered, (if any),

86. Loan approved,

87. Closing location selected,

88. Closing date confirmed,

89. Closing time scheduled with the title company,

90. Closing time scheduled with lender and buyer,

91. Final walk-through scheduled for buyer,

92. Closing documents requested,

93. Review closing documents,

94. Forward closing documents to seller as requested,

95. Oversee the entire closing process,

96. Coordinate the closing with your next purchase.

97. We understand that their is a lot involved in selling your home that is why we have composed a brief summary of most of what is involved.

Advance Mortgage Corporation * 7676 Hazard Center Drive, Fifth Floor * San Diego * CA * 92108  Toll Free: (800) 584-9030