Northwest Team

INFORMATION PACKAGE FOR

WASHINGTON REAL ESTATE BUYERS

PREPARED FOR: Phillip Carron

BY: Chris Hughes

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

Mission Statement

To provide the finest Real Estate Services available, based on the highest standard of ethics, values and an unwavering commitment to client care.

In doing so, we will earn the loyalty and trust of both home-sellers and home-buyers who will become lifelong clients and, most importantly, valued friends.

We will ALWAYS place the interests of our clients before those of our own, and we will never lose sight of the trust and responsibility bestowed upon us by each and every client.

Our success will be measured by the happiness and loyalty of our clients.

HONESTY - INTEGRITY – COMMITMENT – PLANNING

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

Top 10 Agent Protocol Tips

1. Understand Agents Work on Commission Very few real estate agents work on salary. Most real estate agents are paid commission. If an agent does not close a transaction,

they do not get paid. Agents are not public servants and do not work for free. Do not ask an agent to work for

you if you intend to cut the agent out of your deal.

2. Keep Appointments & Be On Time Be respectful, use common courtesy and please understand that to enable a showing

scheduling will be required. You are probably not that agent's only prospect / client. Do not make an appointment with an agent and then forget to show up. If you are going to be late, call and let your agent know when you expect to arrive.

3. Choose A Real Estate Agent Decide whether you want to work without representation: dealing directly with listing

agents, or if you want to hire your own agent. If you decide to hire your own agent, interview agents to find an agent with whom you are

comfortable. If you are interviewing agents, let each agent know you are in the interview stage.

4. Do Not Call The Listing Agent if You Are Working With a Buying Agent Listing agents work for the seller, not the buyer. If you hire the listing agent to represent

you, that agent will now be working under dual agency. If listing agents show you the property, the listing agent will expect to represent you. Listing agents do not want to do the buying agent's job. Let your buyer's agent do their

job.

5. Practice Open House Protocol Ask your agent if it's considered proper for you to attend open houses alone. In some

areas, it is frowned upon to go to open houses unescorted. Hand your agent's business card to the agent hosting the open house. Sometimes this

agent will be the listing agent, but often it is an agent also looking for unrepresented buyers. Announcing you are represented protects you.

Do not ask the open house host questions about the seller or the seller's motivation. Let your agent ask those questions for you.

6. Sign a Buyer's Broker Agreement with a Buying Agent Expect to sign a buyer's broker agreement. It creates a relationship between you and the

agent, and explains the agent's duties to you and vice versa. Ask about the difference between an Exclusive and Non-Exclusive Buyer's Broker

Agreement. If you're not ready to sign a buyer's broker, do not ask that agent to show you homes.

Otherwise, procuring cause may pop up.

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

Ask your agent if she will release you from the contract if you become dissatisfied. If she refuses, hire somebody else.

7. Always Ask For and Sign an Agency Agreement By law, agents are required to give buyers an Agency Disclosure. Signing an agency disclosure is your proof of receipt. It is solely a disclosure. It is not an

agreement to agency. Read it. The best and most practiced type of agency is the single agency. This mean you are

represented by your own agent who owes you a fiduciary responsibility.

8. Make Your Expectations Known If you expect your agent to pick you up at your front door and drive you home after

showing homes, tell her. Many will provide that service. If not, they will ask you to meet at the office.

Let your agent know how you want them to communicate with you and how often. Do you want phone calls, e-mails, text messages, IM's or all of the above?

Set realistic goals and a time frame to find your home. Ask your agent how you can help by supplying feedback.

If you are displeased, say so.

9. Do Not Sign Forms You Do Not Understand Do not feel silly for asking your agent to explain a form to you. It is their job. Many forms

are second nature to agents but not to you, so ask for explanations until you are satisfied you understand.

Do not sign forms titled Consent To Represent More Than One Buyer. This is never in your best interest. Find another agent if this happens.

Realize agents are not lawyers and cannot interpret law.

10. Be Ready To Buy If you aren't ready to buy, you don't need a real estate agent. You can go to open houses

by yourself; call listing agents for showings -- but be honest, say you are "only shopping"; look at homes online; but don't waste an agent's time if you aren't ready to act.

If possible, hire a babysitter to care for children who are too young to stay out all morning or afternoon touring homes.

Bring your checkbook. You'll need it to write an offer because an earnest money deposit may be required to accompany your purchase offer.

The Advantages of Loan Preapproval

Real estate experts tell first-time home buyers that it's critical to apply for a loan before shopping for a home, and it's true; this is an essential first step. But do you know that it's far better to be preapproved for a loan than to be prequalified? There are more advantages to gaining preapproval than you would initially surmise. When the lender hands a borrower a preapproval letter, it means the borrower can:

Save Time by Looking at the Right Homes Our automated email system will only send you properties which meet the exact

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

parameters of homes that you are qualified to buy. The NWMLS system allows us to send clients much of the same data that agents receive. This way, you'll save time by checking out homes you can actually afford to buy instead of falling in love with ones you cant.

Spend More Time Examining the Right Homes By decreasing the inventory of homes to those that fit your parameters, you can allot more time to thinking about all the little nuances each home has to offer. Lots of home buyers never move past the price point when sorting out their preferences, but now you can devote your energies to looking at the little things that matter to you most.

Gain Confidence & Avoid DisillusionmentNow when you find that perfect home, nobody can take it away from you by telling you that you do not qualify to buy it. You can minimize anxiety and remove last-minute loan surprises that could disqualify you. You'll sleep better at night knowing that the home you selected is yours.

Increase Bargaining & Negotiating PowerSellers will be more likely to immediately accept your offer, even if that offer is for less than list price, because you are giving the seller peace of mind that her home is sold. They can take their home off the market and place it into pending status with confidence.

Enjoy a Faster Closing PeriodBecause there is no window period while your loan application is processed, the lender can speed up the entire processing procedure. Appraisals can be ordered immediately. It's possible to shorten a 30-day closing to two or three weeks, which comes in handy if a seller needs to quickly move and can't decide which offer to accept. Yours will move to the front if you can accomplish the seller's need to quickly close.

Because mortgage approval is generally the longest contingency to satisfy in a purchase contract, it is to your advantage to obtain a preapproval letter as soon as you're ready to begin your search. Lenders will render a decision based on your complete loan application, employment verification and data from all three credit reports.

Monthly Payment Calculator

Interest Rate

Loan Amount

4% 5.00% 5.50% 6.00% 6.50% 7.00% 8.00%9%

$100,000 477.42 536.82 567.79 599.55 632.07 665.30 733.76 804.62“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

$150,000 716.12 805.23 851.68 899.33 948.10 997.95 1100.65 1206.93

$200,000 954.83 1073.64 1135.58 1199.10 1264.14 1330.60 1467.53 1609.25

$250,000 1193.54 1342.05 1419.47 1498.88 1580.17 1663.26 1834.41 2011.56

$300,000 1432.25 1610.46 1703.37 1798.65 1896.20 1995.91 2201.29 2413.87

$350,000 1670.95 1878.88 1987.26 2098.43 2212.24 2328.56 2568.18 2816.18

$400,000 1909.66 2147.29 2271.16 2398.20 2528.27 2661.21 2935.06 3218.49

$450,000 2148.37 2415.70 2555.05 2697.98 2844.31 2993.86 3301.94 3620.80

$500,000 2387.08 2684.11 2838.95 2997.75 3160.34 3326.51 3668.824023.11

* Based on a 30 year Fixed Mortgage. Includes Principal and Interest.

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

Items needed for your loan application:

1. Last two years complete tax returns including all schedules and pages

2. Last two years W2’s

3. Most recent 30 days of paystubs

4. two months bank statements for all checking, savings, and investment accounts. Please make sure your name appears on the statement and you include all pages

5. Proper identification

Alycia HoGlinHome Loan ConsultantOffice: 360-223-1443Fax: 1-866-308-2372Email: ahoglin@guildmortgage.net

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321

Northwest Team

“Professional results through honesty, integrity and detailed planning”

3800 Byron Avenue, Suite 148, Bellingham WA 98229 - o: 360.738.7070 c: 360.223.7601 f: 360.738.9321