1. Joe Dent’s VIP Buyer Services
Making Your Home Buying Dreams Come True
2. Services provided Seller (Listing)
Agent
Buyer Agent
1. Provide you property values
2. Represent you on all MLS properties, PLUS
bank properties (REO), new builds
3. Promote and protect your interests at ALL
TIMES
4. Advise you even if it means advising NOT to buy
5. Negotiate best price and terms for YOU, the
buyer
6. Structure your offer with your best interests in
mind
7. Keep your information confidential from the
seller unless authorized to disclose
8. Negotiate for a home inspection and repairs in
Benefits of
Buyer Agency
3. Renting Costs a Lot –
A Whole Lot!
Assumptions:Assumptions:
$1,500 Monthly Rent Payments$1,500 Monthly Rent Payments
Landlord Increases Rent 5% YearlyLandlord Increases Rent 5% Yearly
Five Year Costs…Nearly $100,000!Five Year Costs…Nearly $100,000!
4. Show Your Landlord The Money
Assuming a 5% increase per year:Assuming a 5% increase per year:
YearYear Monthly RentMonthly Rent Annual RentAnnual Rent
11 $1,500 $18,000$1,500 $18,000
22 $1,575 $18,900$1,575 $18,900
3 $1,654 $19,8483 $1,654 $19,848
4 $1,737 $20,8444 $1,737 $20,844
5 $1,8245 $1,824 $21,888$21,888
Total $99,480Total $99,480
Average monthly rent over five years $1,658Average monthly rent over five years $1,658
5. Getting In Is Easy
$300,000 Mortgage – PITI $2,200+/-$300,000 Mortgage – PITI $2,200+/-
After Tax Breaks –After Tax Breaks –
Payments Similar toPayments Similar to
Average Rent over 5-yearsAverage Rent over 5-years
Assume 25% Tax BracketAssume 25% Tax Bracket
6. Now For The Good Part!
After 5 years:After 5 years:
Mortgage BalanceMortgage Balance
Declines to $279,000Declines to $279,000
Home Value Increases toHome Value Increases to
$383,000 @ 5% Appreciation$383,000 @ 5% Appreciation
Net Worth Up $104,000!Net Worth Up $104,000!
3.5% Home Appreciation3.5% Home Appreciation
Still Yields $77,000 Net WorthStill Yields $77,000 Net Worth
7. Your $ Works For You
After 5 years:After 5 years:
Home appreciation (assuming 5% per year):Home appreciation (assuming 5% per year):
11 $315,000$315,000
22 $330,750$330,750
33 $347,288$347,288
44 $364,652$364,652
55 $382,885$382,885
AppreciationAppreciation $82,885$82,885
Mortgage balance ($279,163)Mortgage balance ($279,163) $20,837$20,837
Total $103,722Total $103,722
8. Your Uncle Wants to Help
If Cash Is Tight –If Cash Is Tight –
Uncle Sam Can Help NowUncle Sam Can Help Now
Don’t Wait For Refund Bucks:Don’t Wait For Refund Bucks:
Increase Your Take Home PayIncrease Your Take Home Pay
Quit Lending Money toQuit Lending Money to
Uncle Sam Interest FreeUncle Sam Interest Free
Check Out:Check Out: IRS Withholding CalculatorIRS Withholding Calculator
To Do It RightTo Do It Right
http://www.irs.gov/individuals/page/0,,id=14806,00.html
9. Tax Advantage
Assuming a $300,000 loan:Assuming a $300,000 loan:
P&IP&I $1,798.65$1,798.65
TaxesTaxes 312.50312.50
InsuranceInsurance 100.00100.00
TotalTotal $2,211.15$2,211.15
Tax deduction for five years:Tax deduction for five years:
Interest $87,082 + Taxes $18,750= $105,832Interest $87,082 + Taxes $18,750= $105,832
Using a 25% tax bracketUsing a 25% tax bracket $26,458$26,458
MonthlyMonthly $ 441$ 441
Mortgage Payment $2211 – 441 = $1,770Mortgage Payment $2211 – 441 = $1,770
Average Rent (five years) $1,658Average Rent (five years) $1,658
Payment difference $ 112Payment difference $ 112
11. Joe Dent’s VIP Buyer Services
Making Your Home Buying Dreams Come True
12. As A Homebuying Specialist:..
…I Will Help You:
1.1. Find theFind the best homebest home for yourfor your
needsneeds
2.2. Negotiate theNegotiate the lowest pricelowest price
3.3. Secure theSecure the best financingbest financing
4.4. Meet your home buying needsMeet your home buying needs
with thewith the least amount of hassleleast amount of hassle
13. None of My Services Will
Cost You a Penny*
*Exception: Fairfax Realty’s $195 admin fee to cover costs of Federal, State,
Local (County) compliance and quality control. Included in your closing costs
and payable at settlement. In most cases we get the Seller to cover this fee.
15. Step 1:
LOAN PREAPPROVALLOAN PREAPPROVAL
To Determine Your Purchasing PowerTo Determine Your Purchasing Power
Find Out How Much Home you Can Afford ( by helping you getFind Out How Much Home you Can Afford ( by helping you get
FREEFREE
Home Loan Pre-ApprovalHome Loan Pre-Approval))
16. Step 2:
Your Home SearchYour Home Search
Send You Information on Homes That Match Your CriteriaSend You Information on Homes That Match Your Criteria
( our( our UniqueUnique Buyer Profile ServiceBuyer Profile Service ))
17. Step 3:
OFFER ON A SPECIFIC HOME
Help You Get the Home You Want Using
My Specialized Knowledge
19. The 3 Step Process toThe 3 Step Process to
HomeownershipHomeownership
1. Your Home
Loan
Preapproval
2. Home Searching with my
Buyer Profile Service
3. Offer to
Contract
Using My
Specialized
Knowledge
SETTLEMENT & your new home keys!
Inspection(
s) appraisal
final loan
approval
20. Should I Start Viewing HomesShould I Start Viewing Homes
Before I’m Loan Approved?Before I’m Loan Approved?
1. Loan
Preapproval
2. Home Search
3. Contract
Negotiations
Settlement
25. Three Key Benefits...Three Key Benefits...
1.1. You Know ExactlyYou Know Exactly
How Much Home YouHow Much Home You
Can AffordCan Afford
26. Three Key BenefitsThree Key Benefits
2. You Get the2. You Get the
Best FinancingBest Financing
27. Three Key BenefitsThree Key Benefits
3.3. You Can Make aYou Can Make a
Stronger OfferStronger Offer
28. Consider These Two Offers
Buyer A
(You with
pre-approved
Home Loan)
$ 250,000 $ 250,000
Cash Offer
No Conditions
Conditional Upon
Financing
Buyer B
(Another buyer who is
NOT pre-approved)
31. 1. A Home Loan Credit Report is
Generated by the Credit Bureau
2. Application Taken & Financial Details
(e.g. income, assets) Are Verified
3. All Information is Forwarded to the
Underwriter for Approval
Pre-Approval
40. The Solution
My One-of-a-kindMy One-of-a-kind Buyer ProfileBuyer Profile
SystemSystem gives YOU prioritygives YOU priority
access to hot new listings thataccess to hot new listings that
match YOUR home buyingmatch YOUR home buying
criteriacriteria
41. … I put YOU in control
1.Your home buying criteria is entered
into my custom computer
database
2.Every evening, my computer
searches the MLS to find homes that
match your specific criteria
42. … We put YOU in
control
3.I only send you the homes that
match your criteria
4.You can pick the homes you like and
drive by them
43. … I put YOU in control
5.After driving by, when you see a home
you want to look at give me a call, I’ll
arrange a private showing
6.NO pressure to buy
45. NO MORE...
Searching through
the paper, looking
at homes that may
already be sold
You get
AUTOMATIC
access to hot new
listings BEFORE
other buyers
YOU are in control which means...
46. NO MORE...
Wasted time
viewing homes a
real estate agent has
picked out that
don’t interest you
You only receive
homes that match
your criteria and
YOU pick the
homes you want
to see
YOU are in control which means...
47. NO MORE...
Pressure (most
agents pick out 6-8
homes and try to
sell you one of
them
You pick out as
many homes as
you want to see
(there’s never
any pressure to
buy)
YOU are in control which means...
48. NO MORE...
Overpaying for the
home you want
Because you beat
out other buyers,
you can negotiate
the best possible
price
YOU Are in control which means...
49. 10 Problems with
SHORT SALES:
1. Competitive, and Often
Unrealistic List Pricing
2. The Bank calls the Shots…and
Dumb shots at that!
3. Property sold as-is
50. 10 Problems with
SHORT SALES:
4. The Bank holds your deposit
money …
5. Delays, delays!
6. And More Delays!
51. 10 Problems with
SHORT SALES::
7. Uncooperative/uninformed
Realtors:
8. Little/No Closing Costs Help.
9. HOA/Condo violations or
delinquencies, outstanding utility
company bills from previous
52. 10 Problems with
SHORT SALES::
10. Totally uncertain,
unpredictable outcome
for your offer!
53. How to Beat Out Other Buyers in
Multiple Offers:
1. It’s the NET not the Gross!
Offer = $200,000
Seller help = $6,000
Seller net =$194,000
2. 1st
impression – 1 chance
54. How to Beat Out Other Buyers in
Multiple Offers:
4. Strong lender letter!
5. 1st
impression – 1 chance
6.Financial Info Sheet & Bank
Statement Showing Cash to Close
Match
55. How to Beat Out Other Buyers in
Multiple Offers:
7. The greater the contingencies
(e.g. home, radon, mold, termite
inspections) the less competitive
the offer
56. Bank Foreclosures (REO’s):
1. Sold AS-IS, no repairs, all need work
2. Lots of competition, multiple offers
3. Usually require certified cashier check
for EMD (earnest money deposit)
4. Properties sometimes have
appraisal/title issues
5. Many require seller bank loan prequal
57. How to Make a Winning FCL Offer:
1. No concessions, few contingencies
2. Bumping price causes appraisal issues
3. Big deposit (2%); but make deposit in 2
installments (small initial, large
balance) to give equitable rights
4. Proof of funds, buyers name on EMD
check, completed financial statement
58. Step 3:
Negotiating your offerNegotiating your offer
with mywith my
SpecializedSpecialized
KnowledgeKnowledge
59. When You find the home
you want, I will
1.Help you prepare an offer that meets
your needs and a Comparative Market
Analysis (CMA) showing the relative value
of the asking price.
2.Present the offer on your behalf
to the seller
3.Negotiate all terms and conditions of
the offer in your best interest
61. You get pre-
qualified FREE of
charge for a home
loan and get access
to special financing
You can afford
more home for your
money
HowHow YouYou BenefitBenefit
62. You
AUTOMATICALLY
receive the best new
listings that match
your criteria BEFORE
the average buyer
knows about them
You can beat out
other buyers to hot
new listings
HowHow YouYou BenefitBenefit
63. You are represented
& backed by my
Specialized
Knowledge
You get the house
you want at the
lowest possible
price
HowHow YouYou BenefitBenefit
68. What to Say and Do
When You Come
Across Homes on
Your Own
69. What to Say and Do When You
Come Across Homes on Your Own
1. If you see a home you like, feel free to
call for information but always tell the
agent that you’re working with us (this
will prevent you from being hounded by
other agents with questions and sales
pitches)
70. What to Say and Do When You
Come Across Homes on Your Own
2. Get the price and (if available) MLS
number and I’ll send you complete
information
3. If you see a house you want to look at,
always call ME for appointments
76. Dear Mr. Dent.
My family would like to extend our
heartfelt gratitude for making one of
our dreams become a reality (to own a
house). We thank you for your
patience, professionalism, and
knowledgeable ways of dealing with
every need that we had when we were
on the process of purchasing our
property. From the very basic to the
most complex part of the
process, you were there with us. My family, especially my kids Joshua,
and John were happy to see you all those times you worked with us
because you made them feel that you care for our family. Having you as
our realtor is a tremendous blessing to us. May the good Lord continue to
bless you and your family so that you may continue to bless others.
Ronaldo and Melany Garcia
A Proud Home Owner of
5104 Marlborough Pl.
Upper Marlbor, MD 20772
79. 1. It always takes
more TIME, MONEY,
PATIENCE than the
original estimate.
2. NEW construction
does not equal SOUND,
QUALITY construction!
3 TRUTHS about Buying a New3 TRUTHS about Buying a New
Home No One Will Tell YouHome No One Will Tell You
3. HIGH PRICED
construction does not
equal SOUND, QUALITY
construction!
80. How You and I Will Work
Together
1. Call me before visiting & registering at any
new home sales center, or talking to any
builder sales rep.
2. To represent you as your buyer agent with
the builder, I have to be present with you at
the time you register with the sales rep, or
give any information about yourself. We have
to come in the door together!
3. Builders will only recognize & cooperate
with buyer agents who register with their
buyer clients.
82. “The construction of
our home in Hanover
has truly been one of
the most stressful and
challenging tasks we
have ever faced. Our
initial troubles dealing
with our builder and
the construction
details left two new
homebuyers like
ourselves in a near
tailspin.
84. Money Bombs!Money Bombs!
2. Can be (a) cheap materials
behind the walls, (b) defective
installation of good products, or (c)
competent installation of cheap
appliances, fixtures, components,
in front of the walls.
1. Special scams or rip offs that
can trip up new home buyers.
85. Money Bombs!Money Bombs!
5. Hurricane Andrew August 1992 in
Dade County Florida
3. Too many builders operate
under the cheaper the better
philosophy. The rush for profit can
be at your expense.
4. Home inspectors say one in
three homes has serious flaws or
code violations which don’t show
up for years sometimes.
87. No better measure of
defective homes than
the “Hurricane Test”
Andrew ripped off the
roofs of 100,000+
homes.
Much of the
destruction caused by
defective
construction.
88. Miami Herald . . .
“The homes most
damaged by the
hurricane were built
recently in the
1980’s & later. By
contrast subdivisions
right across the
street that were of
older vintage . . .”
89. “. . . often suffered
LESS damage. The
reason is clear:
homes built in the last
10-20 years were
riddled with defects
that directly
contributed to their
destruction in
Hurricane Andrew.”
By the way! Dade
County FL has some
of the strictest
building codes in the
nation!
93. 6. Builders have expert lawyers6. Builders have expert lawyers
& take extensive classes all& take extensive classes all
designed to limit your rights –designed to limit your rights –
and their liability for problems.and their liability for problems.
95. Here’s how you can takeHere’s how you can take
control of the process:control of the process:
DO YOUR HOMEWORK BEFORE YOU STEPDO YOUR HOMEWORK BEFORE YOU STEP
INTO A MODEL.INTO A MODEL.
A. Research the builder in local papers.A. Research the builder in local papers.
B. Check out Hoover’s OnlineB. Check out Hoover’s Online
(( www.hoovers.comwww.hoovers.com for profiles of 8500for profiles of 8500
companies including their latest SEC filingscompanies including their latest SEC filings
and reports from analysts.and reports from analysts.
C. Check to see if the builder has been suedC. Check to see if the builder has been sued
by a site calledby a site called www.KnowX.comwww.KnowX.com Cost:Cost:
$1.50-$6.95 for a search, and $2.95-$6.95 for$1.50-$6.95 for a search, and $2.95-$6.95 for
a detail record.a detail record.
96. Ask for the price lists, options list,Ask for the price lists, options list,
and brochures up front.and brochures up front.
Here’s how you can takeHere’s how you can take
control of the process:control of the process:
See “real” homes. (homes lived in bySee “real” homes. (homes lived in by
real, live people!)real, live people!)
Check out the “modelCheck out the “model
variances.”variances.”
97. Ryan Homes (NVR)
The Ripp-Off Report
http://badbusinessbureau.com and
www.ripoffreport.comm
http://ryanhomesnightmare.com/
100. The Most Important PartThe Most Important Part
of This Presentation …of This Presentation …
101. The 1The 1stst
of 3 Most Critical, Time-of 3 Most Critical, Time-
Sensitive Points for a HomeSensitive Points for a Home
Inspection During ConstructionInspection During Construction
1.1. FoundationFoundation
(before backfill!)(before backfill!)
105. The 2The 2ndnd
of 3 Most Critical, Time-of 3 Most Critical, Time-
Sensitive Points for a HomeSensitive Points for a Home
Inspection During ConstructionInspection During Construction
2.2. Pre-drywallPre-drywall