www.McDonaldGroupCharlotte.

com 704-837-0390
 move confidently with us
as your real estate experts

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your home buying road map

strategy
• find a REALTOR® you can trust
• strategic home buyer consultation
• set up your search financing
• mortgage application
• obtain pre-approval letter
showings
• view your favorites
• find your home

offer & negotiations

• market analysis
• write your offer
• negotiations & counter offers

protection • offer accepted

• earnest money
• inspections (be prepared to pay for the inspection
at the time of service)

closing

• appraisal your new home!

• final underwriting
• title work
• insurance
• utilities in your name
• final walk through
• close on your home
• get your keys

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 your strategy starts here

We look out for

80 different variables involved in
Your 7-Step Home Buying Strategy

Expert Advice to Setting Your Strategy

Funding Your Dream
Selecting Your Home
Negotiating Your Terms
Protecting Your Home
Closing on Your Home
Your Lifetime Resources

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 expert advice to
setting your strategy
market intelligence
• Economic indicators • Inventory of vacant homes
• Trends analysis • Rental housing vacancy rates
• Interest rates • Builder confidence
• Loan programs and qualifications • Shadow inventory
• Real estate cycles • Inventory fluctuation
• Seasonal advantages • Rent vs. buy trends
• Local market conditions • Market stability
• Micro markets • Knowledge of co-op agents
• National market conditions negotiation strategy
• Absorption analysis • Knowledge of mortgage options
• Inventory of corporate-owned homes • Knowledge of insider deals
• Inventory of short sales • Knowledge of appreciation rates
• Inventory of foreclosures • Knowledge of inventory

smart home buying strategy

• Determine timing & motivation • Neighborhood & lifestyle

• Evaluate needs & wants • Quality of life
• Out-of-pocket expenses • Set expectations according to market
• Financing needs & pre-approval • Customized plan

“We couldn't have gotten anyone better than Bobby to find my

fiancé and I our first home. Although our needs and wants were
tricky to find the right house, Bobby stuck with us and found us
our perfect home. Bobby is very responsive and worked around
our busy schedules. He is very knowledgeable on the home
buying process which made our first time home buying
experience less stressful and more enjoyable. He gave us
excellent advice throughout our home buying process. I would
recommend him to anyone looking to buy a house.”
-Jonathan & Jessica Eave-

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 funding your dream
trusted lenders
• Best rate & terms
• Close on time
• No surprises
• Over deliver vs. Over promise
• Get documents on time to the title company

decisions on cost

• 15-year vs. 30-year mortgage

• Long-term hold
• Short-term hold
• Buy first or sell first
• Rental property
• 13th payment

your home as an investment

• Mistakes that cause you to overpay for your home

• Mistakes that cause you to overpay for your loan
• How to accelerate your equity & build wealth with your home purchase
• Why choosing the right lender makes all the difference
• Equity buyer vs. emotional buyer

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 mortgage pre-approval
how much can you afford? key factors to consider

• The down payment • Your debt-to-income ratio

• The interest rate • The closing costs associated with the transaction

down payment requirements

down
loan type details
payment
You can put as little as 5% down and as much as you want.
CONVENTIONAL 5%+ Anytime you put less than 20% down, you will have to pay
some mortgage insurance.
The lowest traditional down payment program; there is
FHA 3.5%
additional mortgage insurance.
DOWN PAYMENT A program for people who qualify with credit and income but
$1,000+
ASSISTANCE* do not have enough savings for a down payment.
A special program for military buyers that allows them to put
VA 0%
almost nothing down toward the purchase.
A special product that allows you to wrap into your mortgage
FHA 203k 3.5%
the costs of repairs or improvements to the home you buy.
An ideal program for those without qualifying credit scores.
CONTRACT Interest rates are slightly higher than market rates but it
10%+
FOR DEED allows for home ownership for those who would otherwise
have to rent.

*There are many down payment assistance programs available through our preferred vendors,
just ask us for more information to find out if you qualify.

Closing Costs
You will be required to pay fees for loan processing and other closing costs. These fees must be paid
in full at the closing, unless you are able to include them in your financing. Typically, total closing costs
will range between 4-5% of your mortgage amount. In today’s market, it is common for the seller to pay
around 3% of the mortgage amount toward your closing costs; this is called “Seller Paid Closing Costs.”

Examples of closing costs

• Prepaid Insurance ($300 - $1500) • Mortgage Origination Fee (2%)
• Prepaid Taxes (up to 6 months) • Appraisal Fee ($450)
• Prepaid Home Owners Association Fees • Title Fees ($1200 - $1500)
(when applicable) • Closing Fees (< $1000)

$100,000 - $3,000 = $97,000

your offer seller’s contributions net offer
(Total amount of your (Amount of your closing costs you (Final amount the seller is actually
purchase price) ask the seller to pay for you) receiving, viewed as your actual offer)

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 selecting your home
showings
• Select homes of interest
• View your favorites
• Proactively suggest listings that match your needs

right price - right home

• Property type (condo, townhouse, • Square footage

single family, manufactured, multi-unit, • Landscape/lot preference
investment) • Floor plan
• Preferred sub divisions • Amenities
• Price range • ADA disability features
• Year built (age of home) • Appliances
• Bedroom/bathroom/garage needs

lifestyle & neighborhood

• School rankings • Privacy of neighborhood/gated community

• Crime level • Location of home in neighborhood
• Demographics • Proximity to: work, restaurants, recre-
• Planned community ation, public transportation, major roads,
• Parks & playgrounds entertainment, etc.

managing risk
• Foreclosures/bank owned homes
• Short Sales
• Vacant homes
• City inspections

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 negotiating your terms
position of strength
• Pre-approval in hand • Seller’s purchase price per tax records
• Type of financing • Property tax assessment review
• Negotiating with listing agent • Walk away leverage
• Comparable sales to support offer

seller concessions & offer details

• Seller contribution to buyer’s closing costs • Title policy

• Home warranty • 60 days no payments
• Inspection repair costs • Contract acceptance
• Closing date • Time line
• Discount/buy-down points • Property inspection time line
• Ancillary closing costs • Negotiate repairs

multiple offer strategy

• “Dear Seller” letter

• Zero repair allowance
• Increased Due Diligence
• Closing date
• Escalation Clause

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 making an offer
Once we’ve found the home you wish to purchase, you’ll need to determine what offer you
are willing to make on the home. After all, you are the one making the payments!

offer terms

• Sales Price • Personal Property

• Due Diligence Days _____ • Other applicable addendum like
• Due Diligence Amount _____ Residential Property Disclosures,
• Earnest Money • Seller Contribution to YOUR Closing
• Financing Terms Costs (if requested)
• Inspection Period • Seller Paid Home Warranty
• Closing Date

offer terms
Example - Asking the seller to cover 3% of your closing costs

$300,000 - $9,000 = $291,000

your offer seller’s contributions net offer
(Total amount of your (Amount of your closing costs you (Final amount the seller is actually
purchase price) ask the seller to pay for you) receiving, viewed as your actual offer)

a note about multiple offers

It is important to remember that the more competition
there is for the home, the higher the offer will have to be,
sometimes even exceeding the asking price. Remember,
be realistic, but it all comes down to market value and
what is your “Plan B”? Make offers you want the
other party to sign!

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 making an offer
Home Inspections
If you are purchasing a resale property, we highly recommend that you have a professional home
inspector conduct a thorough inspection. Our Inspector is exceedingly thorough and detailed so as to
minimize surprises for you. However, the inspection is not meant to be used to low ball the seller post-
price negotiations, as all existing homes have minor imperfections.

The inspection is intended to report on major damage or serious problems that require repair. Your
home cannot “pass or fail” an inspection. The inspector’s job is to make you aware of repairs that are
recommended or necessary. Be prepared to pay for the inspection at the time of service.

The inspection can include the following:

• Appliances
• Plumbing
• Electrical
• Heating and Air conditioning (depending upon
the season)
• Roof and Attic (if accessible)
• Foundation and Crawl Space
• General Structure
• Termites
• Radon (optional)

The seller may be willing to negotiate completion of repairs or a credit for completion of repairs, or you
may decide that the home will take too much work and money and rescind the offer during the inspec-
tion period.

Your inspection is part of Due Diligence and must be negotiated and agreed prior to end of Due Diligence.

Previously-Owned Home Warranties

When you purchase an existing home, you can purchase warranties that will protect you against most
ordinary flaws and breakdowns in major mechanicals and appliances for at least the first year you own
the home. The warranty may be offered by or negotiated with the seller, or can be purchased by you,
the buyer.

New Home Warranties

When you purchase a newly-built home, the builder usually offers a warranty on things such as the
quality of design, materials, and workmanship.

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 closing on your home
home owner’s insurance
• Highly competitive rates
• Impacts your monthly payment

attorney

• Quality management of process

• Manage all parties in transaction
• Leverage for getting problems resolved
• Closing on time
• Protecting your interests
• Transferring ownership of property to you

the final details

• All documents to lender in timely manner • Potential deal killers

• Appraisal • Transfer of utilities
• Lender repairs (if any) • Moving into your new home
• Closing & settlement review • Welcome to your new home

Note: Buyer’s agent commission is paid by the Seller at closing once we find you the right home.
Our win is your win!

“We highly recommend Terry! He was knowledge-

able, honest and got us a terrific deal! Also, his
experience as a builder was extremely helpful during
our home buying process--we knew we were making
the right decision since he was able to answer all of
our questions about the condition of the home and
walk us through the inspection report. We are so
happy in our new home and have nothing but
positive things to say!”
-Jim & Natalie Bell-

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 what to expect at closing
Who will be there?

• You, the buyer(s) • Attorney, the party representing the lender

• Seller(s) - (sometimes) company and you, responsible for ensuring
• Buyer’s Agent the title is transferred to you (Buyer)
• Listing Agent • Occasionally, your mortgage officer

What will you need?

Bring valid government-issued photo ID and a second form of ID showing your name.
Bring a cashier’s check for your cash to close (your mortgage officer will tell you the amount
prior to closing)

What is expected from you at the closing?

If financing the property, your lender will require you to sign a document, called a promissory note,
as evidence that you are personally responsible for repaying the loan. You will also sign all title and
deed documents putting you as the official homeowner!

What Is An Escrow Account?

An escrow account is a neutral depository held by your lender

for funds that will be used to pay expenses incurred for the
“I highly recommend Terry
property, such as taxes, assessments, property insurance, or as an agent. I recently
mortgage moved from Charlotte and
he helped me to successful-
insurance premiums which will be due in the future. You will pay ly list and sell my first
one-twelfth of the annual amount of these bills each month with house. He was immediately
responsive to all my
your regular mortgage payment. When the bills are due, the contacts through email and
lender pays them from the escrow account. phone... He is extremely
knowledgeable about all
aspects of the real estate
At closing, it may be necessary to pay enough into the account process... We successfully
to cover these prepaid expenses for several months, possibly up sold and closed on my
property in less than a
to one year, so that funds will be available to pay the bills as month”.
they come due. These are part of your closing costs. -Jim Whelan-

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 your lifetime resource
on-going real estate support
• Post closing questions
• Updated market information
• Helping your friends and family

trusted contractors

• Handymen • Exterior maintenance

• Cleaning companies • Painting & remodeling
• Carpet cleaning • Siding/Windows/Decks

raving fan club

• Newsletters throughout the year

• Helpful videos
• Market snapshot
• Annual Events - Knights Basketball

“I am in sales and service in my professional life

and because of this I demand a lot from the
people that I decide to do business with. Terry
has a background in construction and develop-
ment. This helps him ask questions about a
property that you may not be thinking of and
also helps you avoid getting into a problem
situation. Terry is great at showing you proper-
ties that meet your desires and also suggesting
things to you that you may not be thinking about.
When it comes time to do the real estate deal,
Terry is a tough and fair negotiator. He knows
the market well... I have also appreciated the
customer appreciation events that Terry and his
team host from time to time. Once a customer
always a customer. He has helped me buy and
sell homes. You will not be disappointed if you
hire Terry and his team.”
-Lance Cibik-

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 why McDonald Group?
One Team | One Plan | One Purpose: Our Core Commitments
• Do what we say we will do
• Deliver prompt communication
• Build and maintain relationships
• Always solutions, never problems
• Client hapiness, the day you move in, and years later too

McDonald Group
• Continue to invest in Buyer education, helping them make good decisions
• Invest in professional development and skills training
• Seek continuing education classes
• A Commitment to our fiduciary duty in every transaction 54 54
49
• Discusses then implements a home buying strategy
to fit your needs
• Transaction Coordinator
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• Expert Buyer Agents
• Proactive listing suggestions
• Respond promptly
• Available 7 days/week
• Weekly Team Meetings
• Weekly Sales Training

The average agent sells

only 8 homes per year. 8

avg. agent 2014 2015 2016 2017

per year McDonald Group

“Bobby was a delight. He was incredibly responsive and attentive throughout our home buying process, offering up
advice when needed without ever being pushy.
Bobby alone is worth a five star review. But if you go with Bobby you also get his amazing five star team. We bought
during the holidays which meant at one point, Bobby was away at a family gathering when we needed to see a
prospective house. But that was no problem. Bobby quickly arranged for someone else on his team to show us the
house. It was all stress free and seamless.
I will absolutely use Bobby again the next time we are in the market.”
-David & Amy Roberts-

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 TERRY MCDONALD BOBBY MCDONALD
C 704.390.6221 C 704.351.0987
O 704.837.0390 O 704.837.0390
F 704.464.3955 F 704.464.3955

Terry@McDonaldGroupCharlotte.com Bobby@McDonaldGroupCharlotte.com

704-837-0390
www.McDonaldGroupCharlotte.com
The McDonald Group
info@McDonaldGroupCharlotte.com
At EXP Realty, Inc.
/McDonaldGroupCharlotte