Home Buyers Guide -v.3

Home Buyer's Guide GUIDE

ANNA ALJABIRY REAL ESTATE

Hello! I AM ANNA ALJABIRY As a real estate agent, I am passionate about helping my clients find their dream homes. With my extensive knowledge of the local market and my dedication to understanding their unique needs and preferences, I am committed to finding the perfect property for each and every one of them. I pride myself on providing exceptional customer service, guiding my clients through the entire buying process with honesty, transparency, and open communication. With my expertise and personalized approach, I am confident that I can help my clients achieve their real estate goals. nice to meet you!

www.LivingInDavisCalifornia.com [email protected]

530.400.0496

THE Process

HOME BUYER'S Roadmap

Meet with a lender Prepare your credit Set a budget GET PRE- APPROVED

MEET WITH YOUR AGENT

MAKE AN OFFER Research comps in the area Work with your realtor to write the best offer Negotiations may arise

Tour homes Adjust criteria if necessary FIND YOUR HOME

Discuss budget Research area neighborhoods Set wants & needs

TITLE COMMITMENT

OFFER SIGNED

INSPECTIONS

APPRAISAL

Professional home inspection takes place Some necessary repairs may be discovered. Negotiate repairs

Initial negotiations are completed. Both parties have signed contract

The title company will send you a title insurance policy for the property

Professional appraisal ensures the property is worth the loan and purchase price you agreed to pay

DOCUMENTS TO LENDER

Final walk-through Sign closing documents Receive your key CLOSING

Make sure all requested docs are sent to your lender prior to closing

10 STEPS TO Buying a home 1 FIND THE RIGHT AGENT 2 PREPARE FINANCES 3 GET PRE-APPROVED

5 6 4

START HOME SHOPPING

MAKE AN OFFER

ORDER AN INSPECTION

NEGOTIATE FINAL OFFER

9 8

APPRAISAL ORDERED

SCHEDULE THE MOVE

CLOSING DAY

01 FINDING THE Right agent Look for an agent with experience, knowledge, strong communication skills, and a professional demeanor. They should have a deep understanding of the local market and be able to provide you with personalized guidance and support tailored to your unique needs and

preferences. It's also important to find an agent you feel comfortable working with and who is committed to providing exceptional customer service. With the right agent by your side, you can find the home of your dreams with confidence and ease.

GETTING YOU IN THE DOOR

Finding the right buyer real estate agent is crucial to ensuring a smooth and successful home-buying experience.

STAYING ON TOP OF THE PAPERWORK

As a real estate buyer agent, staying on top of the paperwork is essential to ensure a smooth and timely transaction. I am highly organized and detail-oriented, and I pride myself on my ability to manage and track all necessary documents and deadlines with precision and efficiency. ON YOUR SIDE

As a real estate buyer agent, I am dedicated to representing your best interests throughout the entire buying process, from property search to negotiation and closing.

PROBLEM SOLVER

NEIGHBORHOOD EXPERT As a real estate buyer agent, I am a neighborhood expert, knowledgeable about the local community, schools, amenities, and property values. I use this expertise to help my clients find the right neighborhood that meets their lifestyle and investment needs, while ensuring they get the best possible value for their money. As a real estate buyer agent, I am a skilled problem solver, able to anticipate and address any challenges that may arise during the buying process. I work tirelessly to find creative solutions that meet my clients' needs and achieve their real estate goals.

AFFORDABILITY

As a real estate buyer agent, I focus on finding affordable properties that meet my clients' needs and budget.

02 PREPARE Financing HOW MUCH HOUSE CAN YOU AFFORD? Mortgage lenders recommend you do not buy a home that is more than 3 to 5 times your annual household income. If you are not purchasing a home with cash, you will need a mortgage pre- approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs. Some buyers are concerned with keeping their monthly payments as low as possible, others want to make sure that their monthly payments never increase. SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspector. A Down Payment is typically between 3.5% & 20% of the purchase price. Earnest Money is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit. Closing Costs for the buyer run between 2% & 5% of the loan amount A Home Inspection costs $450 to $750

CHECK YOUR CREDIT

A mortgage requires a good credit score. You can improve your score by:

Paying down credit card balances Continuing to make payments on time Avoid applying for a new credit card or car loan until you have been approved Avoid making big purchases until you have been approved If possible, avoid job changes until you have been approved 03 GET Pre-approved Being pre-approved, unlike being pre- qualified, means you've actually been approved by a lender for a specific loan amount. You will need to provide documented financial information (income, statements, assets, debt & credit reports etc.) to be reviewed & verified by the lender.

GET qualified

CREDIT SCORE 620 620 580+ .

TYPE OF LOAN VA LOAN USDA LOAN

DOWN PAYMENT NO DOWN PAYMENT NO DOWN PAYMENT 3.5% . 3.5% 3% 6.5%

FHA LOAN

203K LOAN CONVENTIONAL 97 CONVENTIONAL LOAN

640 620 640

QUALIFICATIONS Income QUALIFYING INCOME

W-2 Income/Salary Income from part-time jobs Income from a second Job Overtime & Bonuses Seasonal jobs Self-employed Income Alimony & child support (Documentation required)

NON-QUALIFYING INCOME

Income from the lottery Gambling Unemployment pay Single bonuses Non-occupying co-signer income Unverifiable income Income from rental properties

NEEDED DOCUMENTS

BANK STATEMENTS (PAST 3 MONTHS)

DIVORCE DECREE

PREVIOUS 2 YEARS OF TAX RETURNS LIST OF YOUR DEBTS & ASSETS

W2’S FROM THE PAST 2 YEARS 3 MONTHS WORTH OF PAY-STUBS

ADDITIONAL INCOME DOCUMENTS

TYPES OF mortgage loans

UPFRONT MORTGAGE INSURANCE

MONTHLY MORTGAGE INSURANCE

MINIMUM CREDIT SCORE

DOWN PAYMENT

TYPES OF LOANS

WHO QUALIFIES

Veterans Personnel with honorable discharge Reservists & National Guard Surviving Spouses

VA Department of Veteran Affairs

NONE

580

Someone who is buying a home in a USDA -designated rural area.

USDA Department of Agriculture

2% of the loan amount. Can be rolled into loan amount.

NONE

REQUIRED

640

FHA Federal Housing Administration

Anyone who meets the minimum credit and income levels.

At least 3.5% of purchase price

580-640

1.75% of loan amount

REQUIRED

Anyone who plans to purchase a fixer-upper or needs to renovate their home and meets credit & income requirements Depending on the program, available first time home buyers (a buyer who hasn't owned in the last three years) can put 3% down with a Conventional 97 program.

At least 3.5% of purchase price

203K Federal Housing Administration

580-640

1.75% of loan amount

REQUIRED

Varies from 3%-20% of purchase price

NONE

REQUIRED

620

CONVENTIONAL 97

Anyone who meets lenders credit, income & debt level requirements

Varies from 3% -20%, but typically ranges from 5-20%

SELECT SMART PLUS

NONE

REQUIRED

620

HOME SHOPPING Start

04 START Home shopping START TOURING HOMES IN YOUR PRICE RANGE

Time to start shopping! We will take notes on all the homes we visit. It can be hard to remember all the details of each home, so take pictures or videos to help you remember each home, and review the notes you have written. Once we have found THE house for you, we will present an appropriate offer based on recent sales and current buyer activity in the area, as well as the value of the property in its current condition. Negotiations may take place after the offer is presented. Tip Test the plumbing WE WILL MAKE SURE TO CHECK EVERY LITTLE DETAIL OF EACH HOUSE Test the electrical system Open and close the windows & doors to make sure they work properly

EVALUATE THE NEIGHBORHOOD AND SURROUNDING AREAS

Are the surrounding homes well maintained?

How much traffic is on the street?

Is it conveniently located to schools, shopping, restaurants, & parks

OFFER Make an

05 MAKE an offer WHEN TO MAKE AN OFFER So you have found THE house! Congrats! In today’s market when the demand is higher than the amount of homes available it is important to act fast! HOW MUCH TO OFFER We will sit down and look at recent sales and current buyer activity in the area, as well as the value of the property in its present condition. Putting all this information together, we will determine the price that you would like to offer. SUBMITTING AN OFFER

Put Down a Healthy Earnest Deposit A large earnest money deposit shows the seller you are serious.

There are some components to an offer that makes it more appealing to the sellers. Put Your Best Foot Forward We will work together to discover options and create your best offer. Depending on the circumstances, you may have only one chance to make a good impression.

Cash Talks A transaction that is not dependent on receiving loan approval is more attractive to a seller

Shorter Inspection Periods Try shortening the inspection period to 10 days

Write the Seller a Letter We will make your offer stand out by writing a personal letter to the seller, explaining why you fell in love with their home.

Offer to Close Quickly Many sellers prefer to close within 30 days.

AFTER YOU SUBMIT AN OFFER

THE SELLER COULD ACCEPT THE OFFER

COUNTER-OFFER A counter-offer is when the seller offers you different terms. If this happens, you can: ACCEPT THE SELLER’S COUNTER-OFFER

COUNTER THE SELLER’S COUNTER-OFFER

You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away. OFFER IS ACCEPTED - CONGRATS! Sign the purchase agreement and you are now officially under contract and in escrow! There are usually several contingency periods while in escrow. Now inspections, appraisals, or anything else built into your purchase agreement will take place.

DECLINE THE OFFER This happens if the seller thinks your offer isn’t close enough to their expectations to further negotiate.

DECLINE THE SELLER’S COUNTER-OFFER

PERIOD Escrow

During the inspection period, we will schedule a licensed home inspector to do a thorough inspection of the home. Once this is complete, the inspector will provide us with a detailed report. You can take the issues as-is or request the seller to address some or all of the findings. We will be mindful and reasonable on smaller items while being very cautious and vigilant of potentially significant issues. 06 ORDER AN inspection

Issues typically arise after the home inspection, and those issues tend to result in another round of negotiations for credits or fixes. 07 NEGOTIATE final offer

Ask for credit for the work that needs to be done. Likely, the last thing the seller wants to do is repair work. Think “big picture” and don’t sweat the small stuff.

A tile that needs some caulking or a leaky faucet can easily be fixed. Repairs are still up for negotiation and perhaps a small credit would help with closing costs.

Keep your poker face. The listing agent will be present during inspections and revealing your comfort level with the home could come back to haunt you in further discussions or negotiations.

08 APPRAISAL ordered Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The appraisal lets all parties involved know that the price is fair. The loan file then moves on to the mortgage underwriter. If approved you will receive your final commitment letter that includes the final loan terms & percentage rates.

PROPERTY TITLE SEARCH

HOME OWNERS INSURANCE

This ensures that the seller truly owns the property and that all existing liens, loans or judgments are disclosed.

You'll need insurance for the new home before closing. This will protect against things like fire, storms, and flooding.

YOUR MOVE Scheduling

09 SCHEDULING your move AFTER SIGNING

Finalize Home Mortgage Schedule Home Inspection

Declutter! Sort through every drawer, closet, cupboard & shelf, removing items you no longer need or like. Donate or sell items that are in good condition Get copies of medical records and store them with your other important documents Create an inventory of anything valuable that you plan to take Get estimates from moving companies

2 WEEKS TO MOVE

4 WEEKS TO MOVE

Secure Home Warranty Change address: mailing, subscriptions, etc.

Give 30 days notice if you are currently renting Schedule movers/moving truck

Get quotes for home insurance Schedule time for closing

Minimize grocery shopping Keep on packing

Buy/find packing materials

Contact utility companies (water, electric, cable)

START PACKING

3 WEEKS TO MOVE

1 WEEK TO MOVE

Pack essentials for a few nights in new home Confirm delivery date with the moving company

Obtain certified checks for closing Schedule and attend a final walkthrough

Arrange appraisal

Complete title search (Title company will do this)

DAY Closing

10 CLOSING day CLOSING DAY Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically, closing takes four to six weeks. CLOSING DISCLOSURE Lenders are required to provide you with a closing disclosure, at least three days before closing. This will show you what your final loan terms and closing costs will be. You will have three days to review the statement. This is done to ensure that there are no surprises at the closing table. If there is a significant discrepancy between the loan estimate and the closing disclosure, we must notify your lender and title company immediately.

FINAL WALKTHROUGH We will do a final walk through the home within 24 hours of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to make has been done. We will be sure to:

Make sure all appliances are working properly Run the water in all the faucets and check for any possible leaks Open and close garage doors with opener Flush toilets Run the garbage disposal and exhaust fans

CLOSING TABLE

Who will be there: Your agent The seller

Your loan officer

Any real estate attorneys involved in the transaction

The seller’s agent A title company representative

The closing typically happens at the title company. You will be signing lots of paperwork so get your writing hand warmed up! Some of the papers you will be signing include: the deed of trust, promissory note, and other documents.

CLOSING COSTS Closing costs can vary depending on your home’s purchase price and where you are located. You can generally expect your closing costs to be around 3% to 4% of the home’s purchase price. These closing costs can sometimes be shared with the seller. BRING TO CLOSING Government-issued photo ID Copy of the sales contract Homeowner’s insurance certificate Proof of funds to cover the remainder of the costs RECEIVE YOUR KEYS

Congratulations! It was a journey but you are now officially a homeowner!! Time to celebrate!

RESOURCES Recommended

Resources

UTILITY SERVICES

UTILITY SERVICES PG&E DAVIS BUILDING DEPT CITY OF DAVIS UTILITIES

800.743.5000 530.757.5610 530.757.5651

HOME REPAIR VENDORS

ROOF AND HOME REPAIRS PYRAMID FLOORING ARIF’S PAINTING CARPET CLEANING THE TOILET WHISPERER

916.432.0332 530.732.1830 530.383.4751 530.756.1022 916.226.0499 707.643.2749

VINE ELECTRICAL

HOME REPAIR/RENOVATION

GENERAL CONTRACTOR

530.867.4399 916.571.4056 530.220.4728 916.388.4650 530.758.5321

CONTRACTOR

HANDYMAN SERVICES

HOME REPAIRS

CUSTOM REMODELING

INSPECTORS

INSPECTIONEERING - HAREL

530.760.5555 916.226.0499 916.432.0332 530.662.1234 916.638.7665 916.481.0268

SEWER INSPECTIONS HOME INSPECTIONS

WOODLAND DAVIS PEST POOL TIME POOL AND SPA

NORTH AMERICAN HOME SERVS

TESTIMONIALS Client

Client Testimonials FROM GOOGLE, REDFIN, ZILLOW, AND YELP CRISTINA MTTOS

RICHARD LISON "We were blown away by the exceptional service we received from our real estate agent, Anna Aljabiry. She was knowledgeable, professional, and went above and beyond to ensure our house in Davis CA is sold for the highest price possible. We highly recommend her.” JAMES LI “Anna was our real estate agent for a property that we purchased in Davis, California. She is personable, knowledgeable, and patient. Anna was tremendously helpful. Her wealth of real estate knowledge is impressive and we were happy to have Anna on our side!” MICOLE FLORES "My agent, Anna Aljabiry, made selling my home in the Wildhorse neighborhood in Davis easy and stress-free. Her expertise and professionalism were top-notch. I already recommended her to my neighbor."

“Anna was very hands on during the sale of my house in Davis especially while getting the house ready to be shown. I have sold and bought about 8 houses and none of my realtors worked as hard for me as she did . Solid 10.”

KAYLING HUE

KUSUM HARANATH “We worked with Anna to buy our home. She was extremely helpful and supportive during the entire process of finding our home all the way to its close and after as well. Thank you Anna, you are amazing!” “She is very knowledgeable and professional in the real estate market. She is especially good at giving advice to a seller on how to renovate a house before putting it in the market. I would definitely recommend her.”

www.LivingInDavisCalifornia.com [email protected]

530.400.0496

SERVICES OFFERED Our dedicated real estate services for homebuyers encompass personalized property searches, expert market analysis, and seamless transaction support. We guide you through the entire home-buying process, offering in-depth property evaluations, negotiation assistance, and diligent paperwork management. From identifying your dream home to closing the deal, our Realtor services ensure a smooth and successful home-buying experience tailored to your unique needs.

01 02 03

We conduct a tailored search based on your preferences, ensuring you view homes that match your criteria. From location and size to amenities, we prioritize your needs to find the perfect property. Personalized Property Search Receive comprehensive market insights to make informed decisions. We provide data on property values, trends, and negotiation strategies, empowering you to secure the best deal. Expert Market Analysis Our support extends beyond finding the right home. We guide you through negotiations, inspections, and paperwork, ensuring a smooth transaction from offer to closing. Trust us to navigate the complexities and make your home-buying journey hassle-free. Seamless Transaction Support

WHY YOU NEED A BUYER’S AGENT

Needs Exploration: We will discuss your preferences and lifestyle needs to find the perfect home. Market Knowledge: With detailed knowledge of the local real estate market, including pricing trends, neighborhood amenities, school districts, and future development plans, you can make informed decisions when choosing a home and making an offer . Negotiation Skills: Whether it’s negotiating a lower price, getting the seller to cover closing costs, or resolving issues that arise during inspections, I will always protect your financial interests . Help with Legal and Financial Complexities: Real estate transactions come with a variety of legal documents and financial considerations. I’ll ensure that you understand your obligations and that the paperwork is completed accurately to minimize the risk of legal or financial mistakes . Cost Transparency: Recent NAR changes require buyers to be more aware of agent compensation. I will provide clear guidance on how commissions work and help ensure that you understand all the costs associated with your purchase.

BUYER COMPENSATION Ways realtors get buyer compensation

With the recent NAR changes, buyers now have several options for compensating their agent if the seller does not cover the buyer’s agent commission. Here are the main options:

Cash Payment at Closing: The buyer can pay their agent’s commission directly as part of their closing costs. This would be a separate payment from the down payment and other fees. Reducing the Down Payment: Buyers can adjust their down payment amount to allocate funds for the buyer’s agent commission. For example, if they planned a 10% down payment but need to pay a 3% commission, they could opt for a 7% down payment and use the remaining funds for the commission. Negotiating with the Seller: Buyers may negotiate with the seller to cover all or part of their agent’s commission, particularly in a competitive market. This can be structured as part of the purchase offer, where the seller pays a portion of the buyer's agent fees. Rolling into the Loan: Depending on the lenders’ policies and the loan structure, buyers may be able to finance the commission by rolling it into their mortgage. This option depends on the buyer's financial situation and the loan terms.

NEXT STEPS

After your buyer consultation, we'll sign a Buyer Representation Agreement and initiate a personalized property search based on your preferences. We’ll choose which homes to see, schedule viewings, and begin the exciting journey of finding your dream home!

EXPECT What to

GREAT COMMUNICATION

HONESTY & TRANSPARENCY

INTEGRITY & RESPECT

LOCAL MARKET KNOWLEDGE

REACH YOUR REAL ESTATE GOALS

WWW.LIVINGINDAVISCALIFORNIA.COM

Anna Aljabiry REAL ESTATE

530.400.0496

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