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Donnell Spivey - He Puts His Clients First!
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Donnell Spivey - He Puts His Clients First!  

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<h3>Steps to Home Ownership&nbsp;</h3>
<ol>
<li> INITIAL INTERVIEW</li>
</ol>
<ul>
<li>Establish our agency relationship in writing.</li>
<li>Determine the best type of financing that will work for you</li>
<li>Search for property that meets Buyer&rsquo;s needs</li>
</ul>
<ol start="2">
<li> SELECTING THE HOME OF YOUR CHOICE</li>
</ol>
<ul>
<li> We will go out to look at properties together. We can show you any home. We are here to represent and work for you.&nbsp;</li>
</ul>
<ul>
<li> We will connect you with local mortgage lenders who can counsel you and provide you with all of the information to make the best financial decision&nbsp;</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; for you and your family. A letter from a lender is required to make an offer&nbsp;on a property&nbsp;
<ol start="3">
<li> WE WILL ASSIST YOU AS YOU MAKE AN OFFER ON THE PROPERTY&nbsp;</li>
</ol>
<ul>
<li> We will negotiate on your behalf</li>
<li> Contract will be contingent upon home inspection and financing</li>
</ul>
<ol start="4">
<li> HOME INSPECTION</li>
</ol>
<ul>
<li> The home inspector is hired by the buyer to inspect the main systems of the house including roofing, plumbing, mechanical and electrical systems.&nbsp;</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; The buyer may choose to have other inspections including structural, well/septic, lead based paint and others.&nbsp;
<ul>
<li> Buyer should be present during the inspection process</li>
</ul>
<ol start="5">
<li> APPRAISAL REPORT</li>
</ol>
<ul>
<li>The lender will send a licensed appraiser out to determine current market&nbsp;value of the house.&nbsp;</li>
</ul>
<ol start="6">
<li> SELECT A TITLE COMPANY</li>
</ol>
<ul>
<li> Check to make sure that there are no liens and/or judgments against the property.&nbsp;</li>
</ul>
<ul>
<li> Issue Title Insurance to protect against any future claims.</li>
</ul>
<ol start="7">
<li> SELECT HOMEOWNER INSURANCE COMPANY</li>
</ol>
<ul>
<li>Have the Insurance Company issue a policy in the amount of the sale price&nbsp;of the property. This policy is effective on the date of closing and is paid&nbsp; &nbsp; for a&nbsp;year in advance.&nbsp;</li>
</ul>
<ol start="8">
<li> LOAN APPROVAL</li>
</ol>
<ul>
<li>Your application is complete when the loan officer receives employment&nbsp;verification, the appraisal, verification from your bank that you have&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; enough&nbsp;money in the bank to cover the closing costs and down payment, rental&nbsp;verification, credit report and any other information they ask for.&nbsp; &nbsp; &nbsp; &nbsp; This&nbsp;information is then submitted to an underwriter for loan approval.&nbsp;</li>
</ul>
<ol start="9">
<li> FINAL WALK-THROUGH</li>
</ol>
<ul>
<li> Check to make sure the property is in the same condition that it was when you first saw it.&nbsp;</li>
</ul>
<ul>
<li> Check the plumbing, heating, air conditioning, appliances, and any repairs that the Seller agreed to make.&nbsp;</li>
</ul>
<ol start="10">
<li> CLOSING</li>
</ol>
<ul>
<li> Buyer needs to bring &ldquo;good funds&rdquo; to closing. This is a certified check made to the Title Company or wired funds. We and the lender will go over&nbsp;</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; all of the final figures with you. The closing process takes about an hour.&nbsp;
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<img title="Home Buyer Road Map.pdf" src="https://p6-prod.s3.amazonaws.com/cms/xoN53YhSbNfcm9nW4w0bNRw9QmzBbjxrJWU5jldb.pdf" alt="" />
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<h3>Five Factors That Decide Your Credit Score</h3>
Credit&nbsp;Scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage.
The following factors affect your score:
<ol>
<li>Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.</li>
<li>How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it&rsquo;s a good thing if you have a good proportion of balances to total credit limits.</li>
<li>The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer&rsquo;s oldest obligation is 14 ars old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.</li>
<li>How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.</li>
<li>The types of credit you use. Generally, it&rsquo;s desirable to have more than one type of credit &mdash; installment loans, credit cards, and a mortgage, for</li>
</ol>
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<hr />
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<h3>Tips for a Smooth and Successful Loan Transaction </h3>
DO continue making your mortgage or rent payments
DO stay current on all existing accounts
DO keep working at your current employer
DO continue living at your current residence
DO continue to use your credit as normal
DO call us if you have any questions
&nbsp;
DON&rsquo;T make a major purchase (car, boat, jewelry, etc.)
DON&rsquo;T open a new credit card
DON&rsquo;T transfer any balances from one account to another
DON&rsquo;T buy furniture or any other large purchase
DON&rsquo;T close any credit card accounts
DON&rsquo;T change bank accounts
DON&rsquo;T overcharge or max out credit card accounts
DON&rsquo;T consolidate your debt onto 1 or 2 credit cards
DON&rsquo;T take out a new loan DON&rsquo;T start any home improvement projects DON&rsquo;T open any new accounts where credit is pulled With these tips, we look forward to a smooth and successful closing!
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<h2>Formulating an Offer</h2>
You&rsquo;ve found a home you&rsquo;d like to buy. How much should you offer to pay? To help answer this important question, your buyer&rsquo;s representative will prepare a detailed Comparative Market Analysis (CMA) that examines recently-sold properties, active listings, pending sales and expired listings. Through their Multiple Listing Service (MLS), your agent has access to the most current information on properties in your area.
From the CMA and your agent&rsquo;s personal knowledge, you&rsquo;ll gain insights on the market in general and the specific property you&rsquo;re considering &mdash; important details that should be factored into your offer.
These include Market Facts
&bull; Price of similar properties - both list and sales prices for similar properties in the area &bull; Price trends - current percentages of list price compared to sales price &bull; Supply and demand - in a high-demand, low-supply market your offer may be competing with others
&bull; Absorption rate - number of month&rsquo;s supply of inventory. Small numbers (shorter time frames) indicate a more competitive market for buyers. &bull; Average time on market - because listings expire or homes may be re-listed to appear &ldquo;new&rdquo; cumulative market time is critical Property Facts &bull; Property condition - is it in good condition or will you need to make substantial investments in repairs?
&bull; Length of time on the market - a long time on the market may indicate a slow market, inappropriate pricing or some inherent problem with the property &bull; Seller&rsquo;s motivation - a seller under pressure to close a deal may be more receptive than one who can wait until the &ldquo;right offer comes along.&rdquo;
&bull; Terms- what terms and contingencies must be written into the offer? Terms that make your offer more attractive include an all-cash transaction, pre-approval for financing, quick closing, and few contingencies or seller concessions.
&bull; Property history - previous sales and financing history
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<h2>My Keys to Success &amp; Commitment to Home Buyers...</h2>
OUR UNIQUE SELLING POSITION. There are many REALTORS&reg; available and willing to help you with your home purchase. We provide more services and higher-level services both before the sale and after the sale. WE ARE NOT JUST LOOKING FOR ONE SALE, WE WANT YOU TO CONSIDER US AS YOUR REAL ESTATE PROFESSIONAL FOR LIFE.&nbsp;&nbsp;
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NEIGHBORHOOD KNOWLEDGE. We know the neighborhoods that you are considering or will refer you to someone who does. We will identify comparable sales and other information that will help you to decide on a community.&nbsp;&nbsp;
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APPROPRIATE HOUSES TO CONSIDER. We will look for what you want and can afford in an area you want to live. We will show you the homes that are available within your criteria.&nbsp;&nbsp;
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GOOD FINANCIAL DECISIONS. Every buyer needs basic financial information to make a good buying decision. You'll know that you qualify for the home, and what the payments and the closing costs will be. We will also suggest an alternative type of mortgage to allow for the least expensive cost of housing.LET LENDERS HELP YOU! 
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WE WORK DILIGENTLY TO FIND YOUR HOME. We will work hard to find your new home. We understand that finding a home is a priority and will consider it the same. We will screen and preview homes so as to not waste your time. When we find one that we feel meets your needs, we will show it to you as quickly as possible.&nbsp;
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Steps to Home Ownership  INITIAL INTERVIEW Establish our agency relationship in writing.
Determine the best type of financing that will work for you
Search for property that meets Buyer’s needs SELECTING THE HOME OF YOUR CHOICE We will go 

BUYERS The Steps to Home Ownership

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STEPS OF THE REAL ESTATE TRANSACTION | FROM THE CONTRACT TO CLOSE&nbsp;
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="1" data-listid="1" data-font="Symbol" data-leveltext="">Write up Offer&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="2" data-listid="1" data-font="Symbol" data-leveltext="">Contract Negotiated&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="3" data-listid="1" data-font="Symbol" data-leveltext="">Contract Accepted&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="4" data-listid="1" data-font="Symbol" data-leveltext="">Contract sent to Lender &amp; Escrow Company&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="5" data-listid="1" data-font="Symbol" data-leveltext="">Earnest Money Deposit&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="6" data-listid="1" data-font="Symbol" data-leveltext="">Buyer&rsquo;s Inspection period&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="7" data-listid="1" data-font="Symbol" data-leveltext="">Negotiation of Inspection&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="8" data-listid="1" data-font="Symbol" data-leveltext="">Appraisal Ordered&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="9" data-listid="1" data-font="Symbol" data-leveltext="">Receive Escrow Packet &ndash; Return ASAP (Possible ID affidavit request)&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="10" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Appraisal takes place-possible conditions&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="11" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Document go to Lender for Underwriting&nbsp;&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="12" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Lender may request additional verification of documentation&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="13" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Final conditions from Underwriter i.e. bank statements, proof of employment&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="14" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Final walk through/re-inspection&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="15" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Final Approval from Underwriter/Possible final conditions&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="16" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Documents drawn by lender &amp; sent to Escrow&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="17" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Escrow works up your documents&nbsp;&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-aria-level="1" data-aria-posinset="18" data-listid="1" data-font="Symbol" data-leveltext="">&nbsp;Signing Appointment set by Escrow-expect a call&nbsp;</li>
</ul>

 
STEPS OF THE REAL ESTATE TRANSACTION | FROM THE CONTRACT TO CLOSE  Write up Offer  Contract Negotiated  Contract Accepted  Contract sent to Lender & Escrow Company  Earnest Money Deposit  Buyer’s Inspect