BUYER COUNSELING SERVICES

MEETING THE BUYERS

            ♦   Discussion and explanation of agency relationships

            ♦   Are the buyers working with another agent

            ♦   Forms: Agency Relationships

PRE-BUYER COUNSELING/EDUCATION

            ♦   Find out what the buyer’s expectations are.

                        •   time frame for finding a home (lease ending)?

                        •   have they looked at homes previously?

                        •   what are the buyers looking for in an agent?

            ♦   Describe process of home buying.

            ♦   Search options

            ♦   Disclosure issues (forms)

                        •   Sellers Property Disclosure Statement

                        •   Well and septic issues

                        •   Code compliance issues

            ♦   What are the buyers housing needs:

                        •   Price

                        •   Style

                        •   Number of beds/baths

                        •   Drive time/vicinity to work

                        •   School requirements

                        •   Recreational requirements

            ♦   Has the buyer been pre-approved

                        •   If not, recommend lender

                        •   If yes, does the agent/broker have permission to speak to their lender

            ♦   What is the buyer’s preferred method of communication: email, cell, work, home

            ♦   Will there be any other parties assisting in the home

            ♦   Any conditions they may have (e.g. corporate transfer)?

            ♦   Will they be wanting a home inspection, lead, radon test, etc.

            ♦   Signing exclusive buyer contract or facilitator agreement

                        •   Explain company policy on cooperation

PREVIEW PROPERTIES

            ♦   Agent accompanies buyers when viewing homes

            ♦   Explain what to look for while viewing properties

            ♦   Evaluate and analyze the differences in properties

            ♦   Understanding mechanical systems/buyer education while viewing homes

            ♦   How/when to review forms:

                        •   Sellers Property Disclosure Statements

                        •   Truth in Housing Reports

                        •   Explain difference between city housing reports versus

            ♦   Open Houses

                        •   Viewing alone versus accompanied by the agent

                        •   What to say or not say

            ♦   Counsel for re-sale value/potential/historical statistics

            ♦   How long do the buyers plan to stay in the home?

            ♦   Narrowing the choices

                        •   Pro’s and con’s of home features and locations

                        •   Prepare a CMA on the properties under serious consideration

            ♦   Obtain disclosures/inspection information necessary for buyer to make decision

DRAFTING THE OFFER TO PURCHASE

            ♦   Explain the process

            ♦   Consulting for the Purchase Agreement

                        •   Contingencies: risks and rewards

                        •   Clauses

                        •   Multiple offers

                        •   Prepare the offer

                        •   Help buyer structure offer that is in their best interest

                        •   Earnest Money

                        •   Price

                        •   Contingencies (House stays on market)

                        •   Inspections (What happens during this period)

                        •   Closing date

                        •   Possession

            ♦   Present the Offer

                        •   Counsel buyer on expectation on how the offer may proceed such as

                        •   Communicate and negotiate counter offers from selling party

                        •   Negotiate and counsel client with their response.

            ♦   Due diligence/time is of the essence.

                        •   Agent review the offer to assure it is as negotiated

            ♦   Obtain all proper signatures

            ♦   Provide copies to the buyer

POST PURCHASE AGREEMENT COUNSELING AND FOLLOW-UP

            ♦   Follow through and stay on top of all aspects

            ♦   Arrange for and accompany buyer to inspection

            ♦   Provide counsel and negotiate issues

            ♦   Follow-up on all other inspections/contingencies

                        •   Verify work orders completed

            ♦   Mortgage lender follow up

                        •   Provide all documents to lender

                        •   Verify appraisal has been ordered

                        •   Good-Faith Estimate provided

            ♦   Arrange closing date, time, location

                        •   Do early on to avoid delays/disappointments

            ♦   Verify title work complete

            ♦   Prepare buyers for closing

                        •   Order insurance binder

                        •   Explain what paid receipts will be required

                        •   Furnish list of utilities/phone/cable contacts/phone numbers

            ♦   Arrange for and attend final walk through

            ♦   Negotiate any last minute problems

            ♦   Counsel buyers on what to expect at closing

            ♦   What to bring to closing

                        •   Drivers license (photo ID)

                        •   Social Security numbers

                        •   Residence address for past ten years

                        •   Certified funds and personal funds

                        •   Verify lender and funds required

            ♦   Estimate time to allow for closing

            ♦   Explanation of  Title Insurance

            ♦   Verify all terms of the Purchase Agreement have been are met

CLOSING THE SALE

            ♦   Attend the closing

            ♦   Go through the HUD with the buyer

 ♦   Handle any last minute issues

            ♦   Exchange keys, garage door openers

            ♦   Verify possession date and time

            ♦   Homestead filing

            ♦   Register to vote

POST CLOSING

            ♦   Remind to sign homestead cards

            ♦   Remind to register to vote

            ♦   Post closing contact asking if they have any questions/concerns/problems.

            ♦   Survey

            ♦   Send thank you note and/or gift