As you begin looking for As you begin looking for Asthe home of your dreams with Susan, there are a few things you should few things you should do first. Advanced preparation will help make the home buying process smoother and more efficient.

Offi ce: (573)876-2849 (573)447-2146Fax: (573)447-0155 Hours: 8:30am - 6:00 pm

www.SusanHorak.com

A Home Buyer’sGuide to the Home Buying Process

T H E S U S A N H O R A K G RO U P R E / M A X B O O N E R E A LT YT H E S U S A N H O R A K G RO U P R E / M A X B O O N E R E A LT Y

YourFinancesO R G A N I Z I N G

ourFinances With a RealtorBenefi ts of Working with a Realtor

• They help you sort out your fi nancial situation and offer advice on what exactly you can afford. • They use the Mls and numerous other sources to fi nd information on properties listed for sale that might suit your needs. • They organize appointments with home sellers.• They are knowledgeable about the paperwork you will need to fi ll out when making an offer. • They will help in the arrangement of fi nancing. • They are skilled negotiator

B E N E F I T S O F WO R K I N G

YouHaveO P T I O N S W H E N C H O O S I N G A B A N K

With a Realtor T H E H O M E B U Y I N G P R O C E S S C A N B E E A SY A N D Enjoyable!

• Get a free credit report here: www.freecreditreport.com • Make a household budget and fi gure out where money is coming from and where it is going (income vs. bills/debt). • begin to gather items such as: i. last 3 years of income tax returns ii. bank statements for the last 3 months iii. current copies of pay stubs iv. records of any past derogatory credit history that has since been paid off v. records of any supplemental income you may have vi. if you are self employed, you will need all business records and income tax returns for the last 3 years.• If you have been divorced or fi led for bankruptcy, make copies of the settlements. • Pay off minor debts if possible and do not incur new debt.

B E AWA R E O F F I N A N C I A L P L A N S F O R C E R TA I N P R O F E S S I O N S

Many lenders offer special programs for specifi c service in-dustries and professionals such as teachers, police, fi remen, doctors, etc. be sure to check and see if you qualify for this type of loan during your pre-qualifi cation process.

“If you haven’t started the process of choosing a lender, while we are looking at homes, I will be recommending a few lenders to you who are best suited to handle the loan program that YOU need. And then I will help you navigate through bank fees and interest rates to determine witch loan is right for you.” - Susan

With a Realtor

All Graphics & Literature in this document are the exclusive rights of the Susan Horak Group-Re/Max Boone Realty, and may not be used, reproduced or altered in any way, even if property is not currently listed.

T H E S U S A N H O R A K G RO U P R E / M A X B O O N E R E A LT Y

• Peace of Mind: If you are pre-approved, that’s just one less thing you have to worry about while you’re looking for your new home. • Save time: once you are pre-approved, you will know what you can afford so you won’t waste any time looking at homes that you aren’t qualifi ed for.

• Negotiating Power: once you fi nd the home you want and make an offer, being pre-approved will make your offer have more impact than others, and you will be more likely to get the terms and price you desire. • Advanced Problem Solving: often, buyers will need a little work to get their loan approved. The best time to get these problems taken care of is prior to making an offer on a home.

B E N E F I T S O F P R E - Q U A L I F I C AT I O N

B U Y E R Q U A L I F I C AT I O N W O R K S H E E T FHA/C O N V E N T I O N A L M O R TG AG E A M O U N T

It is practical to go ahead and get pre-qualifi ed with your lender before you actually start looking. During the pre-approval process the lender will verify credit worthiness and determine the price range of houses you are qualifi ed to purchase.

L E N D E R P R E - Q U A L I F I C AT I O N

A VA I L A B L E F U N D S

Savings account $ _______________ Investments (stocks, bonds and mutual funds) $ _______________ Insurance (cash value) $ _______________ Gifts - Conventional Gifts - FHA (family member or blood relative) $ _______________ Other $ _______________ Monthly salary $ _______________ Gross Monthly Income $ ____________ (a)

M O R TG AG E P AY M E N T

Principal & Interest $ _______________ Taxes $ _______________ Hazard Insurance $ _______________ PMI (Private Mortgage Insurance) $ _______________ Homeowner association Dues $ _______________ Total Mortgage Payment $ ____________ (b)

I N C O M E Q U A L I F I C AT I O Nfor FHA: Take 29% of line (a)for Conventional: Take 33% of line (a)(assuming at least 10% down payment) Total Mortgage Payment (b) must not exceed line (C) $ _______________

All Graphics & Literature in this document are the exclusive rights of the Susan Horak Group-Re/Max Boone Realty, and may not be used, reproduced or altered in any way, even if property is not currently listed.

T H E S U S A N H O R A K G RO U P R E / M A X B O O N E R E A LT Y

“ There is no real mystery in figuring out what the bank feels you can afford to spend on a home. I will ask you a few questions, such as your income, your debt load, your cash on hand, and about your credit worthiness.

And from that I will have everything that I need to help you pin point the price range we should be looking in and will be able to calculate a

payment for you.

I will ask you to begin gathering the financial documents that you’ll need when applying for a loan.

Keep your finances in order until you close on your new home, make all your payments on time and don’t acquire

new debt, unless of course debt to income is not an issue.”

W H AT CA N YO U A F FO R D ?

D E BT Q U A L I F I CAT I O N WO R K S H E E T MO N T H LY O B L I GAT I O N S

Total Mortgage Payment $ _______________ Auto Payments* $ _______________ Monthly Charge Card Payments (minimum payments) $ _______________ Loans* $ _______________ Child support/alimony $ _______________ Child Care expenses (FHA only) $ _______________ Other Monthly Payments $ _______________ TOTA L MO N T H LY O B L I GAT I O N S $ _______________ (D)

A L LOWA B L E O B L I GAT I O N SFor FHA: Gross Income (a) X 41% orFor Conventional:Gross Income (a) X 38%Total Monthly Obligations (d)M U ST N OT E XC E E D L I N E ( E ) $ ____________ (E)

*You need only count debts that will extend beyond six months (FHA) or 10 months (CONV). However, if an obligation is greater than $100 per month, it may count against the buyer even if it has less than the allowed time.

All Graphics & Literature in this document are the exclusive rights of the Susan Horak Group-Re/Max Boone Realty, and may not be used, reproduced or altered in any way, even if property is not currently listed.

Before W E G E T I N T H E C A R

“Before we get in the car, we need to get Prepared, Organized, and Educated! Only then can we successfully navigate through every step of this process.

First Step: We need to educate each other so we know what to expect.

I would like to find out from you where you see yourself in five years, I need to know your current financial situation as well as your prospects, I would like to know what type of homes you grew up in, I would like to go through a list with you of what you think you need in a house, your must haves and your wish list, and then I’m going to explain to you why we are going to ignore most of that list!

From our first meeting, then at every house we look at, to the closing and beyond, I will be teaching you everything I know as we go.

Let’s face it, it is not in my best interest to sell you a house that I am not thrilled to get to sell for you when that time comes. With over 25 years under my belt and a good 25 to go, I want to make sure you were happy in the house I sold you, and that it has excellent resale value. Why would I want to make my job harder? For me, today’s sale to you is tomorrow’s great listing!

Get organized ahead of time. Keeping a notebook and calendar dedicated to the home-buying process is a good idea.

You will be set up with a portal on the web where you can keep track of your favorite listings, send me comments, and make notes on homes you have seen and homes you would like to see. You will be automatically emailed every time a home matching your criteria is listed or whose prices has been reduced into your range. You will also see when homes sell and this will help you keep your finger on the pulse of the market.” - Susan

F I N D I N G T H E P E R F E CT H OM E

It is extremely beneficial for you to have an idea of what you want and what you need in a home before you start looking. filling out this questionnaire will help you and your Realtor find the perfect home quickly.

T H E H OM E I A M LO O K I N G FO R :

. . . I S I N T H E P R I C E R A N G E O F _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ TO _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .

. . . I S T H I S ST Y L E : 1 STO RY 2 STO RY M U LT I - L E V E L TOW N H OM E C O N D OM I N I U M

. . . I S T H E FO L LOW I N G AG E : N E W H OM E 1- 5 Y E A R S 6 - 15 Y E A R S6 - 2 5 Y E A R S 2 6 + Y E A R S A N Y AG E

. . . H A S F E AT U R E S I N E E D : _ _ _ _ # B E D RO OMS _ _ _ _ # BAT H S GA R AG E FA M I LY RO OM D I N I N G RO OM ST U DY / O F F I C E L A N D S CA P E D S Q U A R E F E E T _ _ _ _ _ _ _ OT H E R _ _ _ _ _ _ _ _ _ _ _

. . . H A S F E AT U R E S I WA N T : F I R E P L AC E P O O L W E T BA R H OT T U B B R I C K E XT E R I O R STO N E E XT E R I O R

WO O D E XT E R I O R S K Y L I G H T N I C E V I E W

. . . I S LO CAT E D I N T H I S A R E A : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

. . . I S C LO S E TO : S C H O O LS _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _S H O P P I N G R E STA U R A N TS H I G H WAY AC C E S S E M P LOY E R_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ C H U RC H _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _SY N AG O G U E PA R K G O L F L A K E OT H E R_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Finding a HomeFinding a Home“Think from the end,” See yourself in your new home. How does it make you feel? Does it fi t your families needs for 3, 5, or 10 years?

Dreaming of your new home is an important fi rst step, keeping your expectations in check is equally important. Keep in mind that the criteria of what you are looking for in a home will change along the way. No house is perfect. Be willing to compromise on some of your requirements.

Remember that list? The reason Susan asks buyers to make it was that it was a guide. The ability to compromise is critical. Our efforts will be focused on getting you the home that comes closest to fulfi lling the sprit of that list.

When Susan shows you a house, take good notes. Susan will be giving you an MLS print out with all the details of that home and the back of that paper is blank, so it is a great space to jot down the positives and the negatives. Truthfully the worst buyers that we have to work with are the ones that fail to communicate what they DON’T like about homes. Be frank about what you think. This will help Susan to better understand you and what you are looking for. We need feed back.

Once you’ve narrowed it down, to a few homes, it is time to go back and look at those homes side by side. You are going to fi nd that you have in a few short weeks or days become an expert on the housing market. And now you will be looking at those homes through educated eyes. And together you will be making an offer on the right home for you and we will have a plan B.

MAKING OFFERS AND COUNTER OFFERSOnce you’ve made an offer on a new home, try to relax and engage in your routine activities while you wait to hear whether the seller accepts your offer. Susan is at her best durring a negotiation and will be working hard for you and your interests. Offers occationally are rejected, or there might be a problem that comes up in the inspection that you are not willing to deal with so try to remain detached untill everything is fi nalized.

I N S P E C T I O N P E R I O DSusan will help you hire experienced and certifi ed inspectors to conduct a thorough inspection of the property including possible insect damage and radon testing. Be present during inspection, so you can ask Susan and the inspectors questions regarding the home and become knowledgeable about any issues that are discovered. If problems arrise Susan is happy to assist you in fi nding qualifi ed proffessionals to fi x them.

All Graphics & Literature in this document are the exclusive rights of the Susan Horak Group-Re/Max Boone Realty, and may not be used, reproduced or altered in any way, even if property is not currently listed.

All Graphics & Literature in this document are the exclusive rights of the Susan Horak Group-Re/Max Boone Realty, and may not be used,

reproduced or altered in any way, even if property is not currently listed.

(573)876-2849(573)876-2849(573)447-2146(573)447-2146(573) 864-0160(573) 864-0160

Fax: (573)447-0155 Fax: (573)447-0155

Call Susan To See a House

Buying a home can be one of the most stressful experiences in life, BUT it doesn’t have

to be! It is often a long and sometimes intimidating process, BUT it doesn’t have to be! The real estate market

is huge and changes often with swings up and down. It’s easy to become overwhelmed by how much is ahead of you and how little you “think” you know about the process. But with the right attitude and the right agent, it can also be an enjoyable, even exhilarating experience.You actually know quite a bit more about what makes a home right for you, and what will make the process work best for you,

than you may think you do. When it comes to you and or your family’s needs, you are the experts.

Your job now is to find an agent who listens to you and meshes your knowledge with their expertise.

I am Susan Horak, and I am an agent who listens. Lets take a little trip together

through the home buying process.