B u y i n g Yo u r H o m e
A Useful Guide
JA
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
©WRE/MI
TABLE
Tabl e OF
o fCONTENTS
Co n t e n t s
3. Finding Your Home
3.
4.
4. Beginning the Process
5.
5.
6.
6.
Search for Homes Online or On The Go
Representation
Representation That
That Goes
Goes Beyond
Beyond the
the Offer
Offer
7.
7.
8.
8.
It’s
It’s More
More Than
Than Just
Just Finding
Finding aa Home
Home
How
How Much
Much Home
Home Can
Can You
You Afford?
Afford?
9. Mortgage Payment Table
9. Mortgage Payment Table
10. Frequently Asked Questions
10. Frequently Asked Questions
11. Identifying Your Priorities
11. Identifying Your Priorities
12. Purchase and Sale Agreement
12. Purchase and Sale Agreement
13. Home Inspections
13. Home Inspections
14. Settlement - Who Pays What?
14. Settlement - Who Pays What?
15. About Me
15. About Me
16. What My Clients Say
16. Moving Tips
17. Moving Tips
17.
18. Packing
Packing Tips
Tips
18.
19. -- 19.
20. Glossary
Glossary
Your home is one of the largest investments you’ll ever make. My professional expertise will help you wisely navigate each step in
purchasing your new home so that you have the information you need to make smart decisions.
From locating the right home and neighborhood to navigating through the financing and inspection process and ultimately
completing your purchase, you can count on me to advocate on your behalf as your trusted advisor.
Anyone can fill in the blanks on a contract, but it takes a great agent backed by a solid company to advise you on how to structure an
offer that is competitive when it needs to be, fits within your timelines, and is negotiated strongly on your behalf. I have the experience
you can trust to help you easily, quickly and securely reach the next chapter of your life.
Windermere’s reputation for integrity and professionalism is respected throughout our industry. In fact, a recent survey found that
agents from all companies feel more comfortable working with a Windermere agent than any other company—this puts you in a
great position when it comes time to make that offer on your dream home.
I look forward to helping you find the right place to call home!
JA
2
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
FINDING
YOUR
F i ndi n g
Yo uHOME
r H ome
Whatever your reasons for buying, know that finding the right
home, in the perfect neighborhood and at a cost that is within your
budget, is no small task. That’s why many buyers enlist the help of a
full-service Windermere agent.
As a licensed professional with specialized skills, there are many
benefits you receive from working with me:
AS YOUR WINDERMERE AGENT
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I know the local market and can quickly narrow it down to a few
areas where you are likely to find your home at the price you
want.
I can save you time by doing a lot of the legwork. By knowing
your needs, I can eliminate homes that do not meet your criteria.
I will make appointments, personally preview homes with you
and help you determine the pros and cons of each home.
I can help you maximize online home search tools available to
you on Windermere.com and our mobile iPhone app.
I can provide information and make appointments to see almost
any property listed for sale. A home does not have to be listed by
a Windermere agent in order for me to get detailed information
or an appointment to view.
I will research potential properties and provide you with a
comparative market evaluation of any home you are considering
to help determine its fair value.
Once you find the home you want to buy, I will guide you
through the negotiation, legalities and details of purchasing a
home.
JA
3
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
BEGINNING
THE
B e gi n n in g
t hPROCESS
e P roce s s
Organization is the key to finding the home you want while
spending the least amount of time and energy.
Find out how much house you can afford. It’s a good idea to do this
before you go house-hunting. I can refer you to a loan officer who
can assist you with determining how much of a down payment you
can afford, along with a monthly payment you can handle.
Make a list of everything you want in a home. Is a master suite
important? How many bathrooms? What about closet space?
Do you need a yard for the kids and pets to play in? How about a
fireplace or a bay window? Do you prefer a rambler or a multiplestory house? Are schools or access to public transportation
important?
Separate the essentials from the items you could do without and
put them on the “A” list. Prioritize the rest of the items into a second
and third list in order of importance. We’ll then go over the lists so
that I’m very clear on what you want and need in your home.
Keep good notes as we look at homes. After a while, it becomes
difficult to remember which features belong to which home. I can
provide you with a form and rating system to help you compare
homes.
When selecting a home, look beyond cosmetics. Make sure the
home is in good physical condition and that you understand the
cost of repairs. For more information on how to assess the home’s
condition, refer to the “Home inspections” on page 13 of this booklet.
Look at additional homes, even if you love the first one you see.
Many times, it takes looking at several homes before you find the
one that is really right for you.
As your Windermere agent, I’ll check with you regularly, even if you
haven’t found a house that suits your needs. Keeping in contact
allows us to establish a good rapport, and helps me learn how to
help you effectively. I’ll continue to be on the lookout for homes that
suit your needs.
JA
4
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
SEARCH
HOMES
| Online
Se arc hFOR
for
H ome
s | O nlori neOn
or the
O n Go
t he G o
To assist me in your home search, I will utilize
the Northwest MLS
network. for
This powerful
Search
Homes
and professional tool allows me to access very
detailed information about each home and to
find properties with specific characteristics that
are important to you.
Windermere offers an
innovative mobile app for
iPhone® that lets you take
your home search with
you wherever you go. And
just like on Windermere.
com, you can search for all
Windermere
offers
an
innovative
mobile
app
for
iPhone®
that
lets
you
take your
homefrom
searchall
By working with me, you will have access to
available
listings,
you currently
wherever you
go.for
And
just like on Windermere.com, you can
search forall
all the
available
information on allwith
homes
listed
sale
companies,
time.
listings,
from
all
companies,
all
the
time.
in our area, no matter how or where you find
This free app features:
them. This includes homes advertised by other
companies, open houses and even homes you’ve
This free
app has map
manywith
greatGPS
features including:
Interactive
heard about that aren’t yet on the market.
■ Interactive map with GPS
Location based search
■ Location based search
You can search for homes on your own at
Search by address or MLS#
Windermere.com. Our website has:
■ Search by address or MLS#
Detailed property information
Information about every MLS listing available
■ Detailed property information
in your area
See similar homes
■ See similar homes
Enhanced search capabilities and photo
Open house search
■ Open house search
viewer
Openhouse
house
tour
with
directions
■ Open
tour
with
directions
A “save your favorites” feature
On the Go
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RSS feeds of new listings that match your
search criteria
Open House search
Mortgage calculators
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■
■
■
■
Seenearby
nearby
amenities
See
amenities
■
Driving
Drivingdirections
directions
■
Built-in
tools
Built-insharing
sharing
tools
■
Find an agent/office
To download the app, search “Windermere
To
download
the app,App”
search
Real
Estate Search
on“Windermere
the App StoreSM. If
Real
App”
on theWindermere.com
App Store . If
youEstate
don’t Search
have an
iPhone,
you
don’t
have
an
iPhone,
Windermere.com
is
is optimized for use on all mobile devices.
SM
optimized for use on all mobile devices.
Apple, the Apple logo and iPhone are
trademarks of Apple Inc., registered
in the U.S. and other countries. App
Store is a service mark of Apple Inc.
JA
Apple, the Apple logo and iPhone are trademarks of Apple Inc., registered in
the U.S. and other countries. App Store is a service mark of Apple Inc.
5
JAY AGOADO
425-260-0715 jay@jayagoad
o.net www.jayagoado.net
©2013 Windermere Services Company. All rights reserved.
REPRESENTATION
| That
Goes
er
Re p r e s e n tat ion
That
G oesBeyond
B e yond the
t he Off
O ffer
My agency fee is typically paid entirely by the seller. Some companies offer tempting rebates...but there
is so much more to purchasing a home than filling out the contract. Without an expert to help you find
the right home, fully understand your options and negotiate wisely, you might miss out on the very best
buying opportunities. As your buyer’s agent, I will provide you with a comprehensive list of services to
help you make the best investment in your new home.
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Actively search for homes that meet your
criteria so that you don’t miss out on any
desirable new listings.
Personally show you homes that interest you,
on your schedule.
Conduct price evaluations on potential
homes to help you determine market value.
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Strategize the best offering price and terms
to help you succeed in a competitive offer
environment.
■
Provide and prepare your Purchase and
Sale contract, discussing terms and legal
implications and making sure it is favorably
written for you.
■
When possible, present your offer in person
to increase the likelihood of a more favorable
outcome.
Represent you fully and provide
knowledgeable advice during the negotiation
process.
Provide referrals for qualified inspectors,
lenders, attorneys & title companies. We have
NO third-party affiliations so you can count
on us for unbiased referrals to the very best
providers.
■
Coordinate with the lender throughout the
loan and appraisal process and communicate
efficiently with all parties.
Attend any inspections and negotiate
inspection responses favorable to you.
Coordinate with title and escrow and review
your HUD closing statement to help ensure a
smooth, timely closing with the least amount
of stress for you.
Attend the final walk-through to ensure the
house is delivered as agreed and work with
listing agent and/or seller to resolve any
problems.
Coordinate delivery of the keys to you as soon
as recording numbers are received!
Follow up with you to make sure the property
meets your expectations and help resolve any
post-closing issues.
JA
6
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
IT’S
FINDING
A HOME
It’ s MORE
M o r THAN
e Th a n JUST
J u s t Fi nd
i ng a H ome
it’s more complicated tHan just findinG a Home
Buyer’s
Agent
Buyer
1
Purchase & Sale
Agreement
Seller’s
Agent
Seller
Loan
Application
Taxes
Home
Inspection
Utilities
Loan
Approval
Review &
Clear Title
Underwriter
Record
Documents
Verification
Homeowners
Dues
6
Closing
Statement &
Escrow
Instructions
7
Prepare Legal
Documents
Title Search
Fees/
Commission
5
Determine
Status
4
Lender
Mortgage
Insurance
Issue
Commitment
Liens
2
Escrow
Insurance
Binder
3
Title
Insurance
Mortgages
8
Oversee Closing/
Papers Signed
9
Record &
Disburse Funds
Credit Report
Buyer’s Bank
Examination
Check Taxes
& Legal
Appraisal
My goal is to
provide you with
peace of mind
throughout the
transaction process,
knowing that I am
managing every
step along the way.
Work Orders
Employment
10
New Owner
Payments
Issue Policy
JA
5
—
guide to buying a home
—
7
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
HOW
HOME
CAN
YOUYou
AFFORD?
HowMUCH
Much
Home
Can
Afford?
There are a wide variety of loan programs available to buyers. I can give you the names of several
mortgage specialists who can review all of your options with you.
In order to plan properly, you need to understand what lenders are looking for from a borrower. There are
three factors that help determine if you qualify for home financing:
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Your income
Your assets
Your credit history
Most loan programs require you to verify all of your income sources. Your mortgage consultant will let
you know what documentation is needed. Typically, you will need to provide pay stubs and your W-2, and
if you are self-employed, you may need to provide copies of your tax returns.
The required down payment varies according to the loan program. There are several affordable options
for borrowers. Closing costs are associated with finalizing the transaction and include the appraisal fee,
loan origination fee, title insurance, escrow services and legal recording of documents. Each loan is
different, so it is important to discuss these fees with a mortgage expert.
All lenders review a borrower’s credit history to determine the type of credit used, the amount owed and
the borrower’s history of repaying debt. It’s important to check your credit report before you see your
lender because:
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■
Lenders check this to determine the amount of loan you
qualify for
It allows you to correct any mistakes before lenders see it
If there are any blemishes in your report that are not errors,
you should be prepared to explain them to your lender
You are entitled to one free request each year from each of the
three credit bureaus. The best way to do this is to go online to
AnnualCreditReport.com.
When you speak with your mortgage professional to figure
out how much home you can afford, it’s also a good idea to
get preapproved for a mortgage before we start your home
search. This will help us narrow your home search to a price
range that’s comfortable for you, and being preapproved also
makes for a stronger offer in the eyes of sellers.
JA
8
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
MORTGAGE
PAYMENT
TABLE
M o rtg ag e
Payme n
t Tabl e
Loan Amount
Interest Rate
3%
4%
5%
6%
7%
8%
9%
$200,000
$843
$955
$1,074
$1,199
$1,331
$1,468
$1,610
$300,000
$1,265
$1,433
$1,610
$1,799
$1,996
$2,202
$2,415
$400,000
$1,686
$1,910
$2,147
$2,398
$2,661
$2,936
$3,220
$500,000
$2,108
$2,388
$2,684
$2,998
$3,327
$3,670
$4,025
$600,000
$2,530
$2,865
$3,221
$3,597
$3,992
$4,404
$4,830
$700,000
$2,951
$3,343
$3,758
$4,197
$4,657
$5,138
$5,635
$800,000
$3,373
$3,820
$4,294
$4,796
$5,322
$5,872
$6,440
$900,000
$3,794
$4,298
$4,831
$5,396
$5,988
$6,606
$7,245
$1,000,000
$4,216
$4,775
$5,368
$5,995
$6,653
$7,340
$8,050
$1,100,000
$4,638
$5,253
$5,905
$6,595
$7,318
$8,074
$8,855
$1,200,000
$5,059
$5,730
$6,442
$7,194
$7,984
$8,808
$9,660
$1,300,000
$5,481
$6,208
$6,978
$7,794
$8,649
$9,542
$10,465
$1,400,000
$5,902
$6,685
$7,515
$8,393
$9,314
$10,276
$11,270
$1,500,000
$6,324
$7,163
$8,052
$8,993
$9,980
$11,010
$12,075
$1,600,000
$6,746
$7,640
$8,589
$9,592
$10,645
$11,744
$12,880
$1,700,000
$7,167
$8,118
$9,126
$10,192
$11,310
$12,478
$13,685
$1,800,000
$7,589
$8,595
$9,662
$10,791
$11,975
$13,212
$14,490
$1,900,000
$8,010
$9,073
$10,199
$11,391
$12,641
$13,946
$15,295
$2,000,000
$8,432
$9,550
$10,736
$11,990
$13,306
$14,680
$16,100
JA
Monthly payments reflect principal and interest only based on a 30 year fixed-rate loan.
Property taxes and insurance may be additional.
9
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
FREQUENTLY
ASKED
F re q u e n tly
As keQUESTIONS
d Q ue s t ion s
WHAT IS THE DIFFERENCE
BETWEEN PREQUALIFIED AND
PREAPPROVED?
These terms refer to your status in the loan approval process.
Prequalification is a determination of your probable ability to
obtain a loan. To become prequalified, meet with a loan officer or
mortgage company. They will help you determine the price you
can afford, based on your monthly income and your current debts,
as well as the cash you have for a down payment.
Preapproval means that the mortgage lender has already verified
and approved your credit and income. Obtaining preapproval early
in the process will make your offer more attractive to the seller.
WHAT IS EARNEST MONEY?
Earnest money is a “good faith” deposit submitted with your offer
to show the sellers that you are serious about purchasing their
home. Earnest money is a required part of an offer. There is no
set amount that is required, but the amount sometimes makes a
difference in the negotiation process. Earnest money eventually
becomes part of the purchase, and will show as a credit to the
buyers on the settlement statement drawn up by the escrow
company.
WHAT ARE CLOSING COSTS?
Closing costs are charges paid to various entities during the real
estate transaction. They can include escrow fees, document
preparation fees, the cost of an inspection, and lender fees.
WHAT IS A POINT?
A point is equal to one percent of the loan principal. Some lenders
charge points, in addition to interest and fees, at closing.
WHAT IS TITLE INSURANCE?
Title insurance protects against loss from any defects in the legal
title, liens against the property or other adverse claims. The lender
usually requires title insurance.
JA
10
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
IDENTIFYING
PRIORITIES
Id e nt if y in YOUR
g Your
Pr ior it ie s
Name(s):_____________________________________________________________________________
Address:______________________________________________________________________________
Phone (home):
Own 
(cell):
Rent 
(work):
Years in this home _____________________
Children (names/ages):
____________________________________________________________________________________
Reason for move:______________________________________________________________________
When do you want to move in?___________________________________________________________
Is that date flexible? If not, why not?_______________________________________________________
How long have you been looking for a home?_______________________________________________
Have you seen any homes you like?  yes  no
If yes, what happened?__________________________________________________________________
Are you looking at homes with any other sales associate?  yes  no
Where do you work? (location)
When is the best time to look at homes?____________________________________________________
Will anyone else be involved in the buying decision?___________________________________________
What’s most important to you in a home?___________________________________________________
Do you have (or anticipate) any hobbies, interests or lifestyle factors that would affect your
housing needs?________________________________________________________________________
____________________________________________________________________________________
Are schools important?  yes  no If yes, what aspects?_______________________________________
Where do you want to live? ______________________________________________________________
What style of home do you prefer?  Rambler  Two-Story  Traditional  Contemporary
How many bedrooms? _________ Baths __________ Living areas _______________________________
Yard size _________________________________ Garage size _________________________________
JA
11
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
THE
T h e PURCHASE
P u rc h a sAND
e & SALE
S al e AGREEMENT
Agr e e me nt
Once you’ve found the home you want to buy, together
we’ll complete a purchase and sale agreement. This
is the contract in which you and the seller outline the
details of the property transfer. The purchase and sale
agreement usually consists of the following pages:
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■
■
■
Earnest money receipt
Financing addendum
Inspection addendum
Conditions/disclosure addendum
Contingency addendum, when appropriate
Addendum outlining special conditions
Lead-based paint notification, when appropriate
Agency disclosure form
Property disclosure form completed by the
property seller
Local area disclosures
I will explain the purchase agreement contract and help
you best position your offer for success. I will negotiate
strongly on your behalf to ensure you purchase your
new home on the most favorable terms possible.
Once a seller agrees to accept your offer, I will walk you
through the complicated financing, inspection and title
processes step by step. The clarity and peace of mind
I am able to provide will allow you to focus on all the
excitement of starting the next chapter of your life.
JA
12
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
INSPECTIONS
In s p e c tio n s
When you find a home you’re interested in purchasing,
you’ll typically want to determine its condition by
conducting a professional home inspection. This can
be done before submitting an offer—called a preinspection—or after, as a contingency in the purchase
agreement. In addition to inspecting the home itself,
many buyers today opt to inspect the sewer lines
leading from the home, especially with older homes, as
they can be very costly to repair or replace.
The standard home inspector’s report will review the
conditions of the home’s heating and cooling systems;
interior plumbing and electrical systems; the roof, attic
and visible insulation; walls, ceilings, floors, windows
and doors; foundation, basement and visible structure.
The inspector will also look for cracks in cement walls,
water stains that indicate leakage and any indication of
wood rot.
A home inspection also points out the positive aspects
of a home, as well as the maintenance that will be
necessary to keep it in good shape.
As your Windermere agent, I’m familiar with homeinspection services and can provide you with a list of
names from which to choose. Another good way to
find a home inspector is to ask a friend, or perhaps a
business acquaintance, who has had a home inspection
and can recommend a home inspector they were
satisfied with.
Remember, no home is perfect. If problems are found, I
will help you negotiate through the process.
JA
13
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
SETTLEMENT
Pays
S e t t l e me n t| Who
| W ho
Pay What?
s W hat ?
During the negotiation stage of the transaction, a mutually
agreed-upon date for closing is determined. “Closing” is when
you and the seller sign all the paperwork and pay your share
of the settlement fees, and the documents are recorded.
Settlement obligations vary widely due to specific contract
language, local laws and customs. Prior to closing, the closing
agent (usually an escrow or title company or attorney) will
complete a detailed settlement statement for both buyer and
seller. As your Windermere agent, I can help you understand
which of the following typical settlement fees apply to you.
THE BUYER WILL RECEIVE:
■
Credit toward buyer closing costs or the purchase price for
any earnest money deposited.
THE BUYER PAYS:
■
■
■
■
■
■
■
■
■
One-half of escrow or legal fees paid to the attorney or
escrow company for preparing the closing (In California,
the party paying escrow fees varies from county to county)
Document preparation fees, if applicable
Recording and notary fees, if applicable
Title search and title insurance (paid by either the seller or
the buyer)
Local transfer taxes (paid by either the seller or the buyer)
Loan fees
Appraisal fees
Credit report fees
Home Owners Association fees, if applicable (paid by
either the seller or the buyer)
JA
14
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
A bo u t Me ...
I live on Mercer Island with my wife, Adrien,
daughters Alexis and Alyssa, and two dogs, Paxton
and Pogo. I am a true Seattle native, living and
working in the magnificent Pacific Northwest my
entire life.
I graduated from the University of Washington in
1985 with a degree in speech communication. Prior
to establishing my real estate career, I called on
head buyers for grocery chains for Scott Paper Co.,
a Fortune 100 company. During my tenure with this
national products leader, I learned valuable lessons
in exceptional client service, attention to detail, and
win-win negotiating.
As a way of giving back to the community and helping children, my prior real estate company
encouraged all agents to donate $10 per transaction to Children’s Hospital in 1998. I donated $25 per
transaction, which amounted to a total of $900 donated that year as a result of my business transactions.
When I was a child, I had a few operations at Children’s Hospital and found it to be a great experience for
children my age. Because of this, Children’s Hospital has a special place in my heart.
Also, our office went on a tour of the hospital last year and not only did I find it quite informative, I
also found myself becoming emotional seeing the small children inflicted with terminal illnesses. After
experiencing this, it was quite easy to make the determination as to how much money to donate to the
hospital on a per-transaction basis. It’s nice to know that my donation is helping these children fight their
individual diseases.
Since 1999, and continuing with Windermere Real Estate, I decided to increase my donation to Children’s
Hospital to a total of $50 per transaction. I hope that each and every one of you considers how fortunate
you are in life and give what you can to those less fortunate. Whether it be to Children’s Hospital or your
favorite charity, please give either with your time or dollars.
JA
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
W h at My C l ie n t s S ay. . .
“Jay helped us purchase a property on the Eastside where there were multiple offers on houses in the
highly competitive market and we were very pleased with the service he provided. Jay is a proven
professional who knows the neighborhoods well. He pointed out pros and cons of houses we considered
buying. He would not try to convince us to purchase any house and he had our best interest in mind;
his goal was to help us find the perfect home for our family…Jay is not only a great communicator/
negotiator, but also a tech savvy agent who uses new technology and social media. He is obviously one
of the best real estate agent in the area and we would highly recommend him.”
-Peter & Heidi S., Buyers in Bellevue
“Jay was great. He didn’t just write the offer. He helps with all aspects, all the way until closing. He is
really professional and a pleasure to work with. If you want to buy a house on Mercer Island, I highly
recommend Jay.”
-Scott H. & Rita S., Buyers in Mercer Island
“I couldn’t be happier with the helpfulness and knowledge Jay brought to make my first time buying
a home less painful. Jay went above and beyond to help me get into the right home, being available
24/7, quick to write up paperwork, and quick and clear with his communication on any actions I needed
to take. He ensured my understanding of the overall home buying process and was thoughtful in what
would work for me and my needs. He helped me in understanding what types of things to look at when
viewing a home and was open, honest, and even critical when necessary of places I viewed…I would
definitely recommend Jay to anyone I know and will look to work with Jay again when the time comes to
buy or sell another home.”
-Monica G., Buyer in Kirkland
“Jay helped my husband and I buy our first home in Sammamish years ago. To this day, we just absolutely
LOVE the home, the neighborhood and especially JAY! The process was so easy, I recall looking at the
house, signing papers and then moving in! I wish I could sympathize with people and their nightmare
horror stories about buying their first home, but I can’t, thanks to Jay!”
-Melissa F., Buyer in Sammamish
JA
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
MOVING
Mov i n gTIPS
T ip s
SIX TO EIGHT WEEKS BEFORE:
TWO TO FOUR WEEKS BEFORE:
ONE WEEK BEFORE:
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Use up things that may be difficult to move, such as frozen food.
Get estimates from professional movers or from truck rental companies
if you are moving yourself.
Once you’ve selected a mover, discuss insurance, packing, loading and
delivery, and the claims procedure.
Sort through your possessions. Decide what you want to keep, what you
want to sell and what you wish to donate to charity.
Record serial numbers on electronic equipment, take photos (or video)
of all your belongings and create an inventory list.
Change your utilities, including phone, power and water, from your old
address to your new address.
Obtain a change of address packet from the post office and send to
creditors, magazine subscription offices and catalog vendors.
Discuss tax-deductible moving expenses with your accountant and
begin keeping accurate records.
If you’re moving to a new community, contact the Chamber of
Commerce and school district and request information about services.
Make reservations with airlines, hotels and car rental agencies, if needed.
If you are moving yourself, use your inventory list to determine how
many boxes you will need.
Begin packing nonessential items.
Arrange for storage, if needed.
If you have items you don’t want to pack and move, hold a yard sale.
Get car license, registration and insurance in order.
Transfer your bank accounts to new branch locations. Cancel any direct
deposit or automatic payments from your accounts if changing banks.
Make special arrangements to move pets, and consult your veterinarian
about ways to make travel comfortable for them.
Have your car checked and serviced for the trip.
Collect items from safe-deposit box.
JA
Talk to your pharmacist about transferring important medical
prescriptions.
Arrange for a babysitter on moving day.
Return library books and DVDs.
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JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
TWO TO THREE DAYS PRIOR:
MOVING DAY:
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Defrost your refrigerator and freezer.
Have movers pack your belongings.
Label each box with the contents and the room where you want it to be
delivered.
Arrange to have payment ready for moving company.
Set aside legal documents and valuables that you do not want packed.
Pack clothing and toiletries, along with extra clothes in case the moving
company is delayed.
Give your travel itinerary to a close friend or relative so they can reach
you as needed.
OLD HOME:
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Pick up the truck as early as possible if you are moving yourself.
Make a list of every item and box loaded on the truck.
Let the mover know how to reach you.
Double-check closets, cupboards, attic, basement and garage for any
left behind items.
NEW HOME:
■ Beto the
on hand at the new home to answer questions and give instructions
mover.
■ Check off boxes and items as they come off the truck.
■ Install new locks.
■ Confirm that the utilities have been turned on and are ready for use.
■ Unpack your “first day” box (see below for suggested contents).
■ Unpack children’s toys and find a safe place for them to play.
■ Examine your goods for damage.
PACKING
TIPS
Pac
ki n g
T ip s
■ furniture pads
■ newspapers
or
■ felt-tip markers
ESSENTIAL PACKING
packing
paper
MATERIALS:
■ handtruck or dolly ■ scissors
■ cornstarch
packing
“peanuts”
■ packing tape
■ utility knife
■ plenty of boxes
■ bubble wrap
■ labels
HANDY ITEMS INCLUDE:
Pack a “first day” box with items you will need right away.
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scissors
utility knife
local phone book
coffee cups
teakettle
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instant coffee or
tea, soft drinks
pencil and paper
soap
bath towels
trash bags
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shelf liner
paper plates
snacks
toilet paper
children’s toys and
books
JA
17
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
GLOSSARY
G los s a ry
ADJUSTABLE-RATE
MORTGAGE (ARM )
AMORTIZATION
ANNUAL PERCENTAGE RATE
APPRAISAL
ASSESSED VALUE
BALLOON PAYMENT
interest rates on this type of mortgage are periodically adjusted up or down
depending on a specified financial index
a method of equalizing the monthly mortgage payments over the life of the loan,
even though the proportion of principal to interest changes over time. In the early
part of the loan, the principal repayment is very low, while the interest payment is
very high. At the end of the loan, the relationship is reversed
the actual finance charge for a loan, including points and fees, in addition to the
stated interest rate
an expert opinion of the value or worth of a property
the value placed on a property by a municipality for purposes of levying taxes. It
may differ widely from appraised or market value
a large principal payment due all at once at the end of some loan terms
CAP
a limit on how much the interest rate can change in an adjustable-rate mortgage
CERTIFICATE OF TITLE
a document, signed by a title examiner, stating that a seller has an insurable title
to the property
CLOSING
the deed to a property is legally transferred from seller to buyer, and documents
are recorded
CLOSING COSTS
COMMISSION
COMPARATIVE MARKET
ANALYSIS
(CMA)
CONTINGENCY
CONTRACT
DEED
DOWN PAYMENT
EQUITY
see “Settlement” or refer to “Settlement—who pays what” in this guide
a fee (usually a percentage of the total transaction) paid to an agent or broker for
services performed
a survey of the attributes and selling prices of comparable homes on the market
or recently sold; used to help determine a correct pricing strategy for a seller’s
property
a condition in a contract that must be met for the contract to be binding
a binding legal agreement between two or more parties that outlines the
conditions for the exchange of value (for example: money exchanged for title to
property)
a legal document that formally conveys ownership of a property from seller to
buyer
a percentage of the purchase price that the buyer must pay in cash and may not
borrow from the lender
JA
the value of the property actually owned by the homeowner: purchase price, plus
appreciation, plus improvements, less mortgages and liens
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JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net
ESCROW
a fund or account held by a third-party custodian until conditions of a contract are
met
FIXED-RATE MORTGAGE
interest rates on this type of mortgage remain the same over the life of the loan.
Compare to “adjustable-rate mortgage”
FIXTURE
a recognizable entity (such as a kitchen cabinet, drape or light fixture) that is
permanently attached to a property and belongs to the property when it is sold
HAZARD INSURANCE
compensates for property damage from specified hazards such as fire and wind
INTEREST
LIEN
LISTING CONTRACT
the cost of borrowing money, usually expressed as a percentage rate
a security claim on a property until a debt is satisfied
an agreement whereby an owner engages a real estate company for a specified
period of time to sell a property, for which, upon the sale, the agent receives a
commission
MARKET PRICE
the actual price at which a property sold
MARKET VALUE
the price that is established by present economic conditions, location and general
trends
MORTGAGE
MU LTIPLE LISTING SERVICE
(MLS)
ORIGINATION FEE
PITI
POINT
PREPAYMENT PENALTY
PRINCIPAL
PRORATE
PURCHASE & SALE
AGREEMENT
SETTLEMENT
TITLE
TITLE SEARCH
security claim by a lender against a property until the debt is paid
a system that provides to its members detailed information about properties for
sale
an application fee(s) for processing a proposed mortgage loan
principal, interest, taxes and insurance, forming the basis for monthly mortgage
payments
one percent of the loan principal. It’s charged in addition to interest and fees
a fee paid by a borrower who pays off the loan before it is due
one of the parties to a contract; or the amount of money borrowed, for which
interest is charged
divide or assess proportionately
a contract between buyer and seller that outlines the details of the property
transfer; or refer to “Purchase and sale agreement” in this guide
all financial transactions required to make the contract final.
See “Settlement—who pays what” in this guide.
a document that indicates ownership of a specific property
JA
detailed examination of the entire document history of a property title to make
sure there are no legal encumbrances
19
JAY AGOADO
425-260-0715 [email protected] www.jayagoado.net