HOME BUYE R'S

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Ho me Se ller's Roa dma p Real Est ate Terms Pre parin g To Sell Fin anc ials Pre pare to M ake an O ffer Qu est ions to As k Len der s Wh at Not to Do Lo an App licat ion Chec klist Fin d a h ome To ur Ho mes House Hun ting Tips Ma ke An Offe r Ma king an O ffer Neg oti ate An Off er Off er Acc ept ed Ins pec tion Final Steps Before C losi ng Sch edu le Yo ur M ove Clo sing Cu stom ers Testi mon ials

Me et R CG M ortg age

Me et Yo ur M ortg age Brok er

Me ssag e Fro m Pe ter M anc ini

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A new home is a meaningful investment in your next chapter, and there’s no better place to begin again than the communities of New York City. And when it’s time to find or list your luxury home, fixer upper, or condo in the area, I’m the agent most dedicated to you r personal needs and story. For years I have dedicated myself to my community through service that exemplifies my passion for helping and educating home buyers and sellers of all walks. From the start of our professional partnershi p, I make it my mission to communicate with and listen to my clients, blending their need s with my own market strategies to create a seamless sale. With this end in mind, my results are inspired by you and the priorities most important to you. When it’s time for your next move, I want to help you invest in a future that you can be proud of.

pmancinii @p e nrealty.net

@petermancinipenrealty

p e nrealty.net

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Andrew is a New York nativ e currently li ving in Hun tington. He is a resourc eful, seasoned, and dynamic mortgag e veteran. As the fo under of RCG Mortgage, he specializes in c atering to th e local marke t's needs. Comprehensive client education and his ability to surpass cl ients' and re ferral partners' expectatio ns is what sets him apa rt from other loan officers currently wo rking within the industry.

Andrew Russell CEO of RCG Mortgage

516-246-6353 | teamrcg@rcgmortgage.com | www.rcgmortgage.com

Andrew and his t eam relentlessly pursue the best mortgage options for e ach and every client. He is committed to finding all of his buyers the best mo rt gages possible while tailoring them to their specific needs. Seamless transactions with u nmatchable re d-carpet service are why A ndrew has earned thous ands of satisfied clients . Andrew is constant ly engagi ng in profes sional development and digital marketin g advancem ents. In his s pare time, he enjoys goin g to sporting events, and concert s and spending time with his amazin g family.

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Here at RCG Mortgage we pride ourselves on our transparency, accountability and being able to provide a “N ordstrom” experience coupled with a “Ford” assembly line. RCG is glad to work with any and all clients, no matter what their financial goals may be. Based in Hauppauge, NY, RCG Mortgage is a multi-faceted mortgage broker company specializing in the local market ’ s needs. RCG Mortgage was founded in 2017 by broker Andrew Russell with the end goal of making the mortgage proces s as easy and efficient as possible for a mortgage client.

Working with RCG offers multiple advan tages: We work with mult iple lenders offering many option s We offer competitiv e interest rates and prod ucts. We simplify the u nderwriting process. The level of service RCG Offers is world class.

BROKERS DO IT BETTER... RCG DOES IT BEST

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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: down payment, legal fees, taxes, home inspection costs, appraiser costs, and renovation costs.

A 20% down payment is the most common, however, it is not your only option! Have a discussion with your banker to determine what work s best for your scenario.

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In or der to be p re-quali fied, a len der may or may n ot check your credit scor e and won 't require d ocumen tation, only goi ng off wha t you tell the m. This will give you an idea of wha t you cou ld qual ify for, but when you're serious abo ut buyin g, you'll n eed to g et pre- ap proved.

To be pre-app roved, t he lende r will pull yo ur credit an d ask you for documentat ion to ve rify your fina nces. Befo re making an offer on a hou se, it is be st to get pre-app roved to show sell ers your off er is serio us and th at a lend er has alread y appro ved you fo r enoug h money to p urchase t he home.

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QUESTIONS TO ASK LENDERS Not all lenders are the same . T he type of loans av ailable, in terest rates, and fees ca n vary. Inte rviewing le nders is an importa nt step in determ ining wha t type of h ome loan is best fo r you.

Wha t will my in terest and ann ual per centage rates be? Do I qualify fo r any spec ial progr ams or dis counts?

Whi ch types of home loans do you of fer?

Wha t estima ted clos ing cos ts can I e xpect to pay? What is your a verage l oan pro cessing time?

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BUY OR LE ASE A CAR

MAKE A MAJOR PURC HASE

C HAN GE JOBS MISS A BILL PAYM ENT OPEN A LINE OF CREDIT MOVE MONEY AROUND

It's extremely importan t not do any of the fol lowing until after t he home buying proce ss is complete:

Any of these types of changes could jeopardize your lo an approval. It's standard procedure for lenders to also do a final credit check before closing.

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To determine l oan eligibility, lend ers typica lly require t he follo wing typ es of doc uments from ea ch appli cant:

W-2s: last 2 ye ars Pa y stubs: la st 2 mo nths An y a dd itio na l inc om e d ocu me nta tio n: p en sio n, re tire men t, c hi ld s up po rt, So cia l Se cu rity/di sab ilit y incom e awar d le tte rs, e tc

Fede ral t ax retu rn s: las t 2 yea rs

Ba nk s tat eme nts: 2 mo st recent che ckin g a nd s avin gs ac cou nt s tate men ts 401(k) or retir eme nt a cco unt st atem en t an d su mma ry Other ass ets: stat eme nts an d su mm aries of IRAs , stocks , bo nd s, etc.

Ad dre sses for the pas t 2-5 ye ars a nd l andlord's c ont act info if app lica ble

Do cum ent s re latin g to an y of the fo llow ing if ap plic abl e: di vorc e, ba nkru ptcy, co lle ctio ns, judge men ts or pe nd ing laws uits

Student l oan sta tem ent s: showi ng c urre nt a nd futu re pa yme nt a mou nts

Co py of dr iver 's lic ens e or ID an d So cia l Sec urit y car d

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Be su re to m ake a li st of yo ur m us t h ave s, w ant s, a nd do n't care s. As yo u g o thro ug h th e v iew ings, ma ke sur e yo u c he ck o ff a ll yo ur mu st hav es .

O nce yo u fi nd a h ous e y ou lov e, yo u ca n m ake an off icia l off er to th e s elle r.

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Ta ke ph oto s as yo u go throu gh th e o pe n h ou ses so you re mem be r th e la you t a nd the fe el of ea ch h ou se you vi sit.

Pay at ten tio n to fe atu res of t he p rop erty th at a re fixed su ch as th e n eig hb orh oo d, the lot siz e, an d t he orie nt atio n of th e h ome . Do n't pa y to o m uch at ten tio n to th e c olo rs of th e walls or th e f urn itu re.

Be su re to ch ec k o ut t he sma ll de tai ls li ke t he lig ht switche s, wa ter feature s, a nd ap pli anc es to ma ke s ure ev eryt hin g works.

HOME SEARCHING TIPS

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When you find a home yo u want to b uy, keep in mind th ere may be oth ers intere sted in it as well. Be rea dy to mak e a solid of fer qui ckly in ord er to have the best chance at gettin g that h ome.

Whe n you visi t multipl e houses it gets d ifficult to remember sp ecific det ails abou t each on e. Take ph otos and notes wh ile touri ng hous es so th at you can reference them late r when comp aring th e prope rties that you've se en.

Talk to family, frien ds and co-workers to see if anyo ne migh t know of a house for sale in an area you' re interest ed in. On e of them may even kn ow of some one that 's thinki ng abou t selling but hasn't put th e house on the mar ket yet.

Drive a round n eighbo rhoods t hat inte rest you to get a fee l of the area, how the ho mes are care d for, what traffic is like , etc.

Find ing you r dream hom e isn't alwa ys an easy t ask! Have a prioriti es list b ut keep an open m ind when viewing h ouses.

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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

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Paying in cas h versus taking ou t a loan offers a faster closi ng timeline and les s chances of issues aris ing, making it more app ealing to sellers.

An offer that includes a larger earnest mo ney deposit presents a more serious a nd competit ive offer.

Current market co nditions Comparable properties recently so ld in the area The prop erty value of the hou se The current condition of t he house

We will decide on a reasonable offer price b ased on:

Factors that can M ake an Offe r More Entici ng

Add a personal touch Include a le tter to the sellers wit h your offer, lettin g them know what you lov e about their home. Adding this personal t ouch can give you an advant age over other offers by makin g yours stan d out from the rest. Offer a shorter cl osing timeline An offer with a sh orter timeframe for closing is generally more at tractive to sellers o ver one with an exte nded time period wit h a house sale contin gency. A typical closing timeframe is 30-45 days.

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Be pr epared to receive a coun ter-offe r, and do n't be af raid to b argain f or your p urchas e. Be sure to kn ow what you are b uying a nd ens ure tha t you fee l the pr ice is fair at the en d of the day.

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RENEGOTIATE IF N ECESSARY The home in spect ion will tell you if there are any d angerou s or cos tly defe cts in the home that need to be add ressed. You can then choose to eit her back out of the dea l completely, ask for th e selle r to make repairs, or negot iate a l ower price and ha ndle the repairs y ourself.

The seller has a ccepted your offer, both partie s sign a sales agreement an d you're officially under con tract.

You r earnes t money deposi t will be put in to an es crow acco unt tha t is man aged by a neut ral third party (t ypically a title company or b ank) wh o hold s the mo ney for t he dur ation of the escr ow period. They wil l manag e all the funds and do cumen ts requ ired for c losing , and yo ur depo sit will go toward s your down paymen t which is paid at clos ing.

What' s Next?

Home inspe ctions are opt ional b ut hig hly recom mended to make sure th at the home is in t he con dition for whic h it app ears. Ins pectio ns are t ypically c omplet ed with in 10- 14 days after sig ning the sal es agree ment.

COMPLETE YOUR MORTGAGE APPLICATION On ce you'v e come to an agre ement on the final of fer, it's time to fina lize you r loan ap plicati on and lock in your int erest rate if you h aven't d one so already. Y ou may n eed to provide add itiona l docum entati on to yo ur lend er upon reque st ORDER AN APPRAISA L An appraisal will be re quired by your le nder to confirm t hat the home is indee d worth t he loa n amoun t. The apprais al take s into accoun t facto rs such as simil ar proper ty value s, the home's age, lo cation, size an d cond ition to deter mine the current value of the p roperty. 18

Make sure th at you allow for an inspec tion to be complet ed prior to the closi ng of the sale. It is impo rtant to know as muc h about your home as po ssible. If anything serious comes out of the inspectio n, you have an option to back out of the agreement, or gives you mo re negot iating power.

Fee l free to a sk your i nspect or to t ake pictures an d be des criptive in the ir report.

You can als o ask fo r a meetin g with the in specto r to bet ter understan d thei r findin gs.

On ce the i nspect ion is comp lete, yo u can d iscuss and neg otiate with th e selle r any fina l point s.

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APPRAISAL AND LOAN APPROVAL Other checks you sh ould ru n prior to fin alizing the pu rchase of your new home:

The lender w ill review a ny and a ll fina ncial rela ted forms and informatio n prio r to gran ting th e loan. The y will review det ails like: Your income Cred it check Empl oyment status

App raisal Property  title search

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Mos t lende rs requi re both homeow ner's in suranc e and t itle ins urance . Home owners i nsuran ce prot ects you r home a nd pos sessio ns agai nst dama ge and theft, while tit le insu rance p rotect s the le nder an d/or hom eowner fro m finan cial los s again st claims regardi ng the legal owne rship of a home .

At le ast 3 d ays befo re closin g, lend ers are req uired to provid e you wi th a Clos ing Dis closure with you r final lo an terms and c losing costs fo r you to revie w. Closin g costs for the buyer ty pically ra nge from 2-5% of the purc hase pr ice, whic h can in clude lender f ees, len der's ti tle ins urance, and HOA dues if applicab le.

With in 24 hours of closin g we will do a fina l walk through of the h ome befo re signi ng the final p aperwork. T his las t step is to ve rify that no dama ge has been do ne to the pro perty sin ce the inspec tion, t hat an y agree d upon repairs have be en comp leted, and th at not hing f rom the purc hase ag reement has be en remo ved from t he ho me.la.

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IT EMS TO BRING TO CLO SIN G: Governmen t Issued Photo ID Homeowner's Ins urance Certificate Certified Funds or Cashier's Check Final Purch ase Agreement

Before Closing On th e day of clo sing you'll be goin g over and signing the final p aperwork, an d submi tting a cash ier's check (or previ ously arran ged wire tran sfer) to pay t he remaini ng down payment a nd closin g costs. Prop erty owners hip is then officially tra nsferred fro m the seller to the buy er.

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SCHEDULE YOUR MOVE Some things you will want to keep in mind closer to your move d ate:

Movers

Utilities Renovators/  contractors Cleaners Move out details

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C los ing is th e fin al s te p f or yo u to b ec om e th e le ga l o wn er of yo ur ho me . You wi ll t ake a fin al wa lk-thr ou gh ju st be fo re clo sin g to as su re tha t n eg oti at ed wo rk ha s b ee n com p let ed an d eve ry th ing is in wo rk ing o rde r. T he clo sin g pr oce ss it sel f re qu ire s a lo t of p ap er wo rk an d pa tie nce . Be p rep ar ed wi th yo ur go ve rnm en t iss ue d p ho to ID, c as hie r's ch ec k a nd an y o the r d oc um en ts re qu ire d by th e t itle co m pa ny or loa n off ice r. Do n 't f org et to re -k ey all th e lo cks a nd c ha ng e t he ga ra ge do or op en er co de w he n t he pr op er ty is o ffi cia lly yo urs Congratulations on your new home!

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Out st an din g se rv ice! Highly re co mm en d!!!!

Very p rof ess io na l a nd d ep en da b le, hig hly re co mm en d us in g h im a ga in in th e f uture .

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pmancinii @p e nrealty.net

917-91 6-5126

p e nrealty.net

Licens ed Real Est ate Associat e Broker