Guide to Buyers (Bound Documents)

buyer's

ReggieBrown@KW.com

+301-377-1091

Direct Phone:

Office Phone:

+240-737-5000

Guide

So, Let me introduce myself

Hello!

I'm Reggie

My journey in real estate began in March 1989, starting with property management before transitioning into residential sales, particularly specializing in new home sales. Throughout my career, I have garnered recognition for my achievements, including awards with both Century 21 Advantage, Inc. and as a Community Sales Manager with Richmond American Homes of Maryland, Inc.

In 2003, I shifted my focus back to general brokerage real estate with Long & Foster Realtors, where I attained memberships in various prestigious clubs based on my performance.

In March 2010, I temporarily placed my real estate license on inactive status to care for my elderly parents who wished to age in place at their home in Tantallon, Maryland. Following this hiatus and with the support of my loved ones, I returned to the real estate profession in May 2023.

My educational background includes studies in Architectural Technologies and Economics. Outside of work, I enjoy golfing, sketching, and grilling.

ReggieBrown@KW.com

www.HomesbyReggie.com

HomeBuyer's

ROADMAP

find agent

financials

Match with an agent that you feel comfortable with

Get your finances in order, get a credit check, and get pre-approved for a mortgage

appraisal

inspection

Arrange for a professional appraiser to visit the home and determine a value

Arrange for a professional home inspector to vist the home

schedule move

closing

Begin your search! Look online and in classifieds

offer

Make your offer for the home and prepare to negotiate

Schedule your move date and arrange for movers

Get your keys and celebrate your new home!

Note: This is only a high level overview of a buy-side process. For more detailed steps, please refer to your real estate agent.

Reggie Brown,Jr

REAL ESTATE AGENT

+301.377.1091

ReggieBrown@KW.com

https://homesbyreggie.kw.com

Real Estate

Terms

pre-approval

A pre-approval is the first step to obtaining a mortgage to purchase your home. The banker will perform an analysis on your income, debt, and credit-worthiness. You will need one in order to be ready to put an offer on a house.

home inspection

A home inspection is an official review of the real estate asset's current condition. They will help to determine if there is any work needed to be done to the property to bring it to normal working order.

Offer

closing

An offer is a preliminary agreement to purchase a home, and is set between a buyer and a seller.

The closing part of the real estate sale is when the money and keys are exchanged.

contingency

A contingency related to a property is when the preliminary offer is accepted, pending certain conditions set out by the seller.

title search

A title search will confirm that the property that is being sold in fact belongs to the seller.

closing cost

disclosures

The closing cost is the amount that is paid, in addition to the sale price. This can include: taxes, insurance and lender expenses.

The disclosures related to a property will include everything that the sellers know about the property, including any areas that need repairs.

Good faith money

Good faith money is the balance of funds that are set aside into a trust or an escrow account to show the buyer is serious about the purchase.

appraisal

An appraisal is the value that is assigned to the real estate asset based on an assessment of the asset, neighborhood, market condition, and more.

+301.377.10915

Reggie Brown, Jr

ReggieBrown@KW.com

REAL ESTATE AGENT

First Step...

Your

CONTENTS

find a great agent

financials

tour homes

make an offer and negotiate

inspection

appraisal and loan approval

schedule your move

closing

Customer Testimonial

Table of

Identifying

a Great agent

Finding your home is bigger than finding a house and you need a skilled professional guiding you through the process. A real estate agent is a huge asset to you broadening your prospective as you go through the home-buying process.

My objective is simple, working with your best interests in mind and guiding you through all the stages of home buying, while earning your friendship and trust.

industry knowledge

As an agents I have access to a wide variety of resources that is not readily available to the public. My prospectives can help you determine the best price and terms when buying, as well as, market trends when its time to sell.

smart negotiating

No agent stands alone, we are a collective of experience and expertise, focused on helping you negotiate the best price and terms for your home.

PROFESSIONAL EXPERIENCE

As an agents I must undergo annual training and compliances to ensure that I’m up to date on any changes in legal issues or administrative trends and practices.

customer service

As an agent, I am committed to helping you answer any questions that arise from this process. We treat you, how we would like you to treat us!

FindingYour Home

Financials

DETERMINE YOUR BUDGET

It is recommended that you stay within a budget of 3-5 times your annual income when purchasing a new home.

When determine your mortgage, don't forget other factors like: downpayment, legal fees, taxes, home inspection costs, appraiser costs, and renovation costs.

HOW MUCH SHOULD YOUR DOWNPAYMENT BE?

A 20% downpayment is the most common, however, it is not your only option!

Have a discussion with your banker to determine what works best for your scenario.

Financials

CREDIT SCORE CHECK

Your banker will likely perform a credit check prior to approving a mortgage and determining your interest rate. The most ideal range will be 620 or above.

The better your score, the lower the interest rate you will be charged on your mortgage.

CONDITIONAL APPROVAL

Obtaining a conditional approval on your mortgage will help you in many ways. First it will help you determine your budget, and help you stay within your means. Second it shows the seller that you are serious about purchasing a home, and that you have the funds necessary to complete the purchase.

Although you are approved for a loan, does not mean that you will be guaranteed this amount in your final mortgage. You will still have a set of conditions upon which the approval for a mortgage was based, however, this is the strongest approval to submit with your offer.

It is important NOT to make any significant purchases or alter your credit score in any way during this time.

Mortgages

THE BASICS

Department

Veteran Affairs

fha

Federal

Housing

Administration

fha 203K

Federal

Housing

Administration

LOAN

TYPES

Veterans

Personnel with honorable discharge

Reservists & National Guard

Surviving Spouses

Anyone who meets

the credit & income

requirements with

the intent to do

$5,000+ in renovation

Anyone who

meets the minimum

credit & income

levels

Who

Qualifies

NONE

At least 3.5% of

purchase price

At least 3.5% of

purchase price

Down

Payment

UPFRONT

MORTGAGE

INSURANCE

NONE

1.75% of the

loan amount

1.75% of the

loan amount

NONE

REQUIRED

UPFRONT

MORTGAGE

INSURANCE

580

580-640

MINIMUM

CREDIT

SCORE

Mortgages

THE BASICS

USDA

Department

Agriculture

Conventional

Select

smart

Plus

LOAN

TYPES

Depending on the

program, available

first time homebuyer

can put down 3%***

Who

Qualifies

Someone who is buying

a home in a USDA-designate

rural area

Anyone who meets

the credit & income

requirements

NONE

Varies

from 3% -20%

of the Purchase price

Varies from 3% -20%

of the Purchase price

Typically, 5%-20%

Down

Payment

2% of the loan

amount. Can be rolled

into loan amount

UPFRONT

MORTGAGE

INSURANCE

NONE

REQUIRED

UPFRONT

MORTGAGE

INSURANCE

MINIMUM

CREDIT

SCORE

640

620

580-640

***A BUYER, WHO HASN’T OWNED IN THE LAST THREE (3) YEARS.

TOURING

Homes

HOME SEARCHING TIPS

Take photos as you go through the open houses so you remember the layout and the feel of each house you visit.

Pay attention to features of the property that are fixed such as the neighborhood, the lot size, and the orientation of the home. Don't pay too much attention to the colors of the walls or the furniture.

Be sure to check out the small details like the light switches, water features, and appliances to make sure everything works.

Be sure to make a list of your must haves, wants, and don't cares. As you go through the viewings, make sure you check off all your must haves.

Once you find a house you love, you can make an official offer to the seller.

Preparing

toBuy

MAKE

an Offer

Once you find a house you love, you can make an official offer to the seller.

Don't be afraid to make an offer below the listed price. Sellers often price higher than they would be willing to sell for.

NEGOTIATE

an Offer

Be prepared to receive a counter-offer, and don't be afraid to bargain for your purchase. Be sure to know what you are buying and ensure that you feel the price is fair at the end of the day.

Inspection

Make sure that you allow for an inspection to be completed prior to the closing of the sale. It is important to know as much about your home as possible.

If anything serious comes out of the inspection, you have an option to back out of the agreement, or gives you more negotiating power.

Feel free to ask your inspector to take pictures and be descriptive in their report. You can also ask for a meeting with the inspector to better understand their findings.

Once the inspection is complete, you can discuss and negotiate with the seller any final points.

Steps

FINAL

APPRAISAL

Other checks you should run prior to finalizing the purchase of your new home:

1. Appraisal

2. Property title search

Your banker will also want a formal appraisal of the home prior to issuing your loan.

Be sure to purchase home insurance for your new property!

andLoan

APPROVAL

The lender will review any and all financial related forms and information prior to granting the loan.

They will review details like:

Your income
Credit check
Employment status

and Moving

CLOSING

your move!

SCHEDULING

Some things you will want to keep in mind closer to your move date:

Movers
Renovators/ contractors
Utilities
Cleaners
Move out details

Closing

Closing is the final step for you to become the legal owner of your home. You will take a final walk-through just before closing to assure that negotiated work has been completed and everything is in working order.

The closing process itself requires a lot of paperwork and patience. Be prepared with your government issued photo ID, cashier's check and any other documents required by the title company or loan officer.

Don't forget to re-key all the locks and change the garage door opener code when the property is officially yours.

Congratulations on your new home!

Customer

Testimonials

Reggie, as well as, the office went the extra mile to help me realize just what I had and what I could do. Reggie is the most caring, hardworking and knowledgeable agent I have ever met.

RICHARD L DAVIS

FORT WASHINGTON, MARYLAND

He was a good listener, very knowlegeable about real estate, and was available to me 24 hours a day. Reggie was very patient with me and had outstanding communication skills. I would work with Reggie again.

WILLIAM BOYKIN, IV

CLINTON, MARYLAND

We knew Reggie as a member of our church and found him to a very knowledgeable realtor. We felt that his services were excellent.

RUSSELL & ELIZABETH CHILDRESS

WHITE PLAINS, MARYLAND

RENEE & JEFFREY GREENWOOD

WALDORF, MARYLAND

Our experience was outstanding because we were very satisfied with our salesperson Reginald Brown. Reggie was always there for us. His professionalism and encouragement were beautiful. My husband and I have and will continue to recommend Reginald to everyone we know. Thanks

+301.377.10915

Reggie Brown, Jr

Mirriam Pierce

ReggieBrown@KW.com

REAL ESTATE AGENT

Resources

My Preferred Lenders

Cynthia Clarke

Paramount Residential Mortgage Group (PRMG)

301.523.9711

cclarke@prmg.net

Rhonda Lewis

Benchmark Mortgage

301.675.5580

rhonda.lewis@benchmark.us

cRAIG DAVIS

Keller Mortgages

614.678.4755

cdavis@kellermortgages.com

Richard Ray

DMV Home Loan Experts

202.390.4483

richardr@caliverbeach.com

ERNESTO MAREZ

Fidelity Direct Mortgage LLC

301.535.2912

ernesto.marez@fdmhome.com

Resources

landscaping & Handywork

Argelio Ferrufino

202.374.8145

PEST CONTROL

Alexandria Pest Control

703.923.0925

Appraisers

Jackson Appraisal Group LLC

202.455.4625

Design-Build Contractor

Capital Premier Construction

202.743.7926

Nehemiah Construction, LLC

240.417.1372

HVAC,electrical

& plumbing

Rob the Plumber

301.535.1882

A One Heating AC &Plumbing, LLC

301.297.4244

Electrify Electric, LLC

240.476.5116

Marcus McCleod HVAC

703.357.5371

Credit Counseling

Cure My Credit Scores

703.635.8146

Integrity Financial Solutions, Inc.

410.312.5596

home inspector

DMV Professional Service

202.359.4477

Metro Capitol (K.L. Patience)

301.785.6808

Home Team

301.552.5511

F.A.C.E.S. LLC

202.327.3276

Painters and drywall contractors

Barry Wilburn

202.802.5681

Paint Boy & Son’s Painting & Drywall LLC

301.648.8290

professional movers

Interstate Moving & Storage, Inc.

301.648.8290

Insurance provider

Nate Thomas Insurance Agency, Inc.

443.996.NATE(6283)

Checklist

HOME TOURING

ADDRESS OF PROPERTY:

______________________________________________________

DATE VISITED:

__________________________

_______________________________

PRICE:

bEDROOMS:

__________

bATHROOMS:

__________

SQUARE FOOT:

_______________

LOT SIZE:

______________________________

_________________________

YEAR BUILT:

____________________________________________________________

SCHOOL DISTRICT:

CURB APPEAL

DISLIKE

NEUTRAL

LOVE

EXTERIOR

DISLIKE

NEUTRAL

LOVE

LOCATION

DISLIKE

NEUTRAL

LOVE

INTERIOR

DISLIKE

NEUTRAL

LOVE

PRICE

DISLIKE

NEUTRAL

LOVE

NEIGHBORHOOD

DISLIKE

NEUTRAL

LOVE

_____________________________________________________

ADDITIONAL COMMENTS:

______________________________________________________________________________

___________________________________________________________________________________

Checklist

HOME TOURING

ADDRESS OF PROPERTY:

______________________________________________________

DATE VISITED:

__________________________

_______________________________

PRICE:

bEDROOMS:

__________

bATHROOMS:

__________

SQUARE FOOT:

_______________

LOT SIZE:

______________________________

_________________________

YEAR BUILT:

____________________________________________________________

SCHOOL DISTRICT:

CURB APPEAL

DISLIKE

NEUTRAL

LOVE

EXTERIOR

DISLIKE

NEUTRAL

LOVE

LOCATION

DISLIKE

NEUTRAL

LOVE

INTERIOR

DISLIKE

NEUTRAL

LOVE

PRICE

DISLIKE

NEUTRAL

LOVE

NEIGHBORHOOD

DISLIKE

NEUTRAL

LOVE

_____________________________________________________

ADDITIONAL COMMENTS:

______________________________________________________________________________

___________________________________________________________________________________

Checklist

HOME TOURING

ADDRESS OF PROPERTY:

______________________________________________________

DATE VISITED:

__________________________

_______________________________

PRICE:

bEDROOMS:

__________

bATHROOMS:

__________

SQUARE FOOT:

_______________

LOT SIZE:

______________________________

_________________________

YEAR BUILT:

____________________________________________________________

SCHOOL DISTRICT:

CURB APPEAL

DISLIKE

NEUTRAL

LOVE

EXTERIOR

DISLIKE

NEUTRAL

LOVE

LOCATION

DISLIKE

NEUTRAL

LOVE

INTERIOR

DISLIKE

NEUTRAL

LOVE

PRICE

DISLIKE

NEUTRAL

LOVE

NEIGHBORHOOD

DISLIKE

NEUTRAL

LOVE

_____________________________________________________

ADDITIONAL COMMENTS:

______________________________________________________________________________

___________________________________________________________________________________

Notes

Reggie Brown,Jr

REAL ESTATE AGENT