Buyers Tasks List
Research
- Discuss with buyer needs and goals and
determine motive for buying.
- Discuss type and location of employment, future
plans.
- Life style &
hobbies, preferences for recreational activities and
vacations, and visitors
- Time frame for buying
- Determone current home (own, lease or renting?)
situation
- Discuss responsibilities of owning a home.
- Give buyers an overview of current market
conditions and projections
- Review Kelly's and Alain Pinel's
credentials and accomplishments in the
market
- Present Alain Pinel's profile and position
in the
marketplace
- Explain the market power of agent
networking, including agent tours and within Alain Pinel's teams of
offices
- Explain the work Kelly and her
team does "behind the scenes"
and Kelly's availability promise to always be contact
- Explain Kelly's role in buffering clients from
aggressive sales tactics and schemes
- Explain different agency relationships (listing
agents work for the seller, etc)
- Explain the importance of avoiding dual agency,
and open house protocol
- Review and explain all overall buying process
and steps.
- Discuss Pre-Qualification, how it also helps in
negotiation
- Help obtain lender to review financing
options, budget, and
limits.
- Discuss Rent vs Buy scenarios
- Determine from clients top 5-6 specifics needs
for their home.
- Discuss topics regarding locations for
schooling, child care, work, commute, shopping, doctors, hospitals,
entertainment, etc.
- Return all calls, and emails - weekends included
Search
- Set Up Listing Alert search for
clients for automated reports
- Discuss and help clients understand
how to research our their own using web searching resources
- Discuss how to avoid time wasters,
such as how to avoid houses already under contract
- Preview homes and areas and
neighborhoods clients may
be
interested in
- Research "Average Days on Market"
for
these
areas of this
type, price range and location
- Research price ranges and
inventories
for these areas
- Use advanced MLS, For SaleByOwner, and
forclosure search tools constantly set to cleint's criteria
- Obtain for client up to date
information on neighborhoods schools
- Obtain for
client up to date information on neighborhoods crime
rates
- Obtain for
client up to date information on neighborhoods traffics,
work commutes.
- Obtain for client up to date
information on neighborhoods demographics
- Help client narrow search to several
homes or one specific area
- Discuss status of potential homes
with
listing agents/sellers
- Download and review property tax roll
information for each property
- Prepare and print color property
reports with complete photos and descriptions for each potential home.
- Prepare tour plan with clients,
arranging times with listing agents/sellers
- Tour homes with clients
- Review likes and dislikes of all
homes
and neighbors visited
- Realistic asessment of the one home
that fits clients needs and draws there attention
- Feedback e-mails/faxes sent to agents
after showings
- Arrange for revisits of homes that
excite clients, and develop relationship
with all parties (sellers, buys, agents)
Prepare For Offer
- Obtain copy of subdivision plat/complex
lay-out
- Research property's ownership &
deed type
- Research property's public record
information for lot size &
dimensions
- Research and verify legal description
- Research property's land use coding and
deed restrictions
- Research property's current use and zoning
- Verify legal names of owner(s) in county's
public property records
- Confirm current public schools
and impact of schools on
market value
- Research neighborhood and positoning and
impact on market value
- Encourage and arrange clients to meet
neighbors
and discuss area
- Compile and assemble formal file on
property
- Review current title information
- Confirm lot size via owner's copy of
certified survey, if available
- Note any and all unrecorded property
lines, agreements, easements
- Obtain house plans, if applicable and
available
- Discuss possible buyer financing
alternatives and options with listing agent
- Review current appraisal if available
- Review County Property
Assessment Information Report
- Review Home Inspection report if seller has had
one done
- Identify Home Owner Association manager if
applicable
- Verify Home Owner Association Fees with
manager - mandatory or
optional and current annual fee
- Review Homeowner Association
bylaws, if applicable
- Research electricity availability and
supplier's name and phone
number
- Calculate average utility usage from last
12 months of bills
- Research and verify city sewer/septic tank
system
- Water System: Calculate average water fees
or rates from last 12
months of bills )
- Well Water: Confirm well status, depth and
output from Well Report
- Natural Gas: Research/verify availability
and supplier's name and
phone number
- Verify security system, current term of
service and whether owned or
leased
- Verify if seller has transferable Termite
Bond
- Ascertain need for lead-based paint
disclosure
- Review list of property
amenities and assess market impact
- Review list of property's
"Inclusions &
Conveyances with Sale"
- Compile list of needed repairs and
maintenance items
- Determine Home Owner Warranty status
- Review Seller's
Disclosure form
- Perform Curb Appeal Assessment
with client for future resalability
- Arrange sellers home inspections and other
where applicable
- Review comparable MLS listings regularly
to ensure property is price, terms, conditions
and availability
- Discuss with results and and compare with needs
and budget
- Compare with other like properties weighing pro
and cons of each with buyer to help final decision
Contract
- Determine with client pricing and negotiating
strategy to obtain the house of their dreams
- Discuss verbally with listing agent needs of
their client to determine what information could accellerate
negotiation process.
- Learn the sellers’ motivation for selling,
bottom line price and any deadlines they are trying to meet.
- Attempt too find out if there are other offers
or if they have any offers at the present time.
- Explain merits
and weakness of each
component of conditions and terms both suggested by myself
and client
- Develop and explain to client clauses and
contingencies in the offer to protect money deposit
- Develop and Explain inspection contingencies in
offer, and to afford time for the appropriate
inspections
- Discuss with clients listing agent feedback and
determine final price, terms, conditions
of contract under direction of client
- Draw up final Offer To Purchase contract and
obtain clients authorization
- Include supporting information (from CMA) and
letter from buyer's to seller's to help seller's agent advise client
- Arrange appointment/time and location to present
offer to seller
- Submit offer to seller's agent and client (if
possible) on clients behalf and in person (if possible)
- Counsel client on listing agent's and seller's
initial feedback.
- Counsel client on counter offers (formal
feedback). Explain merits
and weakness of each
component of each counter offer condition and term
- Negotiate all counter/counter-counter offerings
on client's behalf,
much behind the scenes activity between all parties
- Ensure level headedness on all proposals,
continue negotiations
- Reject if no room to work.
- Manage emotional over reactions and over
excitement. on both sides.
- Get commitments for time limits on loan
approval and closing dates
- Prepare all counter/counter-counteroffers,
acceptance or amendments to and from listing agent
- Fax copies of contract and all addendums
to closing attorney or title
company
- Ensure record and deposit of buyer's
client's deposit in escrow account.
- Deliver copies of fully signed Offer to
Purchase contract to clients
- Ensure copies of Offer to Purchase
contract sent
to lender
- Provide copies of signed Offer to Purchase
contract for office file
- Ensure change status in MLS to "Sale Pending" by
listing agent
- Ensure Web marketing sites on
sale pending status
- Provide credit report information to
seller if property will be
seller-financed
- Continued assistance with buyer on obtaining
financing, if
applicable and follow-up as
necessary
- Coordinate with lender on Discount Points
being locked in with dates
- Deliver unrecorded property information from
seller to client
- Return all calls and emails - weekends
included,
providing continuing support and guidance
Inspections
- Explain importance of high quality inspections
and make recommendations (already noted in conditions purchase contract)
- Verify septic system inspections, if
applicable
- Verify termite inspection ordered
- Verify roof inspection if applicable
- Verify geological inspection if applcable
- Verify mold inspection ordered, if
required
- Receive and review all reports with client
and assess any possible
impact on sale
- Ensure lender and other vendors on
transaction management program so
agents, buyer and seller can track
progress of sale
- Contact lender weekly to ensure processing
is on track
- Relay final approval of buyer's loan
application to seller
- Ensure completion into transaction
management tracking
program
- Explain buyers's responsibilities with
respect to loan limits and
interpret any clauses in the contract
- Ensure seller's compliance with Home
Inspection Clause requirements
- Recommend or assist all parties with
identifying and negotiating with
trustworthy contractors to perform any
required repairs
- Oversee completion
of all required repairs on client's behalf, if needed
- Re-negotiate, terms and conditions if necessary
based on unmet contigencies
- Return all calls - weekends included, for all
parties involved
The
Appraisal
- Schedule Appraisal in coordination with seller's
agent
- Verify all information to be supplied by sellers
agent (feature sheet of home improvements and upgrades, if applicable)
- Assist and verify comparable sales list used in
market
pricing to Appraiser
- If applicable, review "Proposed"
improvements if the property is to be appraised "Subject to Completion".
- Follow-Up On Appraisal
- Ensure completion into transaction
management program
- Assist clients in appraisal
reports issues
Planning Ahead
- 8 weeks before move prepare and assist
planning of a garage sale, setting a date.
- 8 weeks before remind and assist if needed,
arranegments to transfer school records.
- 8 weeks before guide clients in notifying
appropriate insurance companies of the move.
- 6 weeks before move guide client in select
moving and/or storage company giving them tentative pick-up and
delivery dates, if needed.
- 4 weeks before move help scheduling
dates with your local utility companies
- 4 weeks before remind and
assist if necessary notifying all water deleivery, newspaper delivery
and trash pickup move dates.
- 4 weeks before remind and
assist if necessary obtaing Change of Address
forms to tell the Post Office of new address
- 1 week before advise and assist client in
confirming all service and connect dates for the upcoming move.
Closing
Preparations and Duties
- Coordinate closing process with listing
agent and lender
- Update closing forms & files
- Ensure all parties have all forms
- Obtain all information needed to close the
sale
- Select location where closing will be held
- Confirm closing date and time and notify
all parties
- Arrange final walkthrough before closing date
- Bring all applicable documents to Final
Walkthrough
- Assist client inpecting the entire home
thoroughly
- Assist client looking for and missing or
substituted items
- Check previously unseen areas, inspecting
all walls and flooring previously uncovered
- Have all objections raised now rather than wait
until the closing. Keep emotions low, resolve it then and there.
- Assist in solving any title problems
(boundary disputes, easements,
etc) or in obtaining Death Certificates
- Research all tax prorations
- Research HOA, utility and other
applicable prorations
- Request final closing figures from closing
agent (attorney or title
company)
- Receive & carefully review closing
figures to ensure accuracy
of
preparation
- Forward verified closing figures to
buyer's
- Request copy of closing documents from
closing agent
- Confirm buyer have
received title insurance
commitment
- Ensure "Home Owners Warranty"
availability at closing
- Review all closing documents carefully for
errors
- Forward closing documents to absentees as
requested
- Provide earnest money deposit check from
escrow account to closing
agent
- Coordinate this closing with seller's next
purchase and resolve any
timing problems
- Have a "no surprises" closing for clients
Follow
Up After Closing
- Be available to help help with final moving
arrangements
- Assist in obtain new numbers needed in an
emergency such as the fire department and police.
- Provide all other "handling
emergencies" information via web links
and/or printouts if desired for city and Santa
Clara county
- Answer questions about filing claims with
Home Owner Warranty company
if requested
- Attempt to clarify and resolve any
conflicts about repairs if buyer
is not satisfied
- Respond to any follow-on calls and provide
any additional information
required from office files.
- Client's review of Kelly's service and
future real estate needs.
- Maintain contact and provide valuable real
estate information and resources to client for life