Jennifer MacLeod & Jacob Boes - SAVE MONEY ON YOUR DREAM HOME

SAVE MONEY ON YOUR DREAM HOME

Jennifer MacLeod & Jacob Boes

Table Of Contents

How Real Estate Agents Help Home Buyers

The Move-Up Strategy

Buyers' Needs and Desires

Real Estate Horror Stories to Learn from

Searching for the Right Home

Buying a House: Negotiation Dos and Don'ts 44

What to Know about Home Inspections

Shopping for a Home Loan

Programs for Home Buyers

10. The Closing Process

11. Organizing Your Move

A Trusted Agent ed Agent Jennifer MacLeod, a respected Realtor in Monroe County, has turned her passion for engineering and project management into a thriving career in real estate. With a Bachelor's degree in Civil Engineering and Construction Management from the University of Toledo, her background in engineering, project management, and contract negotiation provides a strong foundation for her real estate success. Despite initial aspirations in engineering, Jennifer discovered her true calling in real estate, where she felt empowered to help clients achieve their dreams. Jennifer was raised with a strong work ethic, a principle she continues to embody as she guides her clients through the real estate process. The turning point in her career came when she adeptly negotiated a complex multi-party deal that earned her a reputation for excellence. Specializing in the Monroe County market, Jennifer is praised for her knowledge, professionalism, and dedication. Beyond her career, Jennifer is a proud Monroe resident who loves participating in local activities with her family, including sports and school programs. She enjoys outdoor adventures, visits to local spots like Sterling State Park, and volunteering with organizations such as Habitat for Humanity and Veteran organizations. In her downtime, Jennifer in enthusiastic traveler who loves the beach, boats, and adventuring around the world. She is also a passionate cook and barbecue aficionado, reflecting her love for a home centered around a beautiful kitchen. Her success is driven by a commitment to service, making her an invaluable asset to her clients and community. Together with her family, she embraces all the joys of life in Monroe.

Testimonials & Reviews for Jennifer MacLeod er MacLeod Here’s a list of people whom I have helped buy or sell a home, and what they said about working with me: Outstanding Service We engaged Jennifer as a buyer's agent for a vacant lot purchase. Jennifer was prompt with all the necessary paperwork to complete the transaction. She answered multiple questions we had regarding certain aspects of the land itself. Jennifer also located contact numbers for people we needed to speak to after the purchase. She is also helping us research builders for our new home and we appreciate the time and personal attention she has given to our purchase and future home build. We highly recommend Jennifer based on our experience with her and plan to engage her services again in the future when we are ready to sell our current home. One of the Best!! Jennifer was awesome.... she made the process SO EASY, any questions at any time she was able to answer and if she didn't have the answer she made sure she found the information ASAP. Even on vacation she was still making sure we closed in record timing. Thank you again!!!! Jenny was Very Technical and Realistic Working with Jen was an absolute pleasure. She went out of her way to adapt to our busy schedule and had a calm professional demeanor the entire time. I think the trait that stood out to me the most was how realistic she was about everything, from pricing, to how we should setup our home. She did a good job resetting our expectations given the market and gave valuable feedback. I would recommend Jen if anyone is looking for a rockstar real estate agent, and if I need to conduct more vii

business, she's my go to.

Very Professional and Helpful Jenny helped me sell 2 properties in the last 2 months. She is very attentive, available and professional. It was very important for me as an overseas investor. I highly recommend using her services. So Easy for me! Thank you Jenny for all your help. I have not sold or bought a house in 20 years. Jenny kept in constant contact throughout the process. Made all appointments at my convenience and had good advice. I sold my condominium within 2 weeks on the market. Jenny explained every detail and had great advice. Thank you! Great Overall Experience Jennifer was easy to work with and kept us informed during the process of purchasing a vacant lot. She did the legwork to find answers to our questions and was there after the sale to help us out as well. Extremely happy with the level of service we received during our buying process. Best Realtor I've Had So Far Jennifer is very professional and knows her job. She’s honest, responsive and cares about her clients. She helped us bought and sold the same house all within two years . If you are looking to sell or buy a house in Michigan, look no further. She’s your perfect realtor! Jenny is a Great Agent! Jenny is great at customer service, knowledge of the market, and very attentive to clients needs. Can't say enough about the great experiences and transactions Jenny has been a part of and assisted with. We continue to do business together as she surpasses other in her field! Highly recommended!

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Jenny is the Best in the Business Jenny is a true professional at what she does. Great to work with! She did an amazing finding me my first home. She did just as good as a job when I was ready to sell my home. She'll be my realtor for a long time to come. Thanks Jenny! Jennifer was very knowledgeable Jennifer was very knowledgeable about the area we were looking at buying in, after she knew what we were looking for she sent us great homes. Anytime we had a question she was on top of it with the answers, it didn’t matter what time of day she always responded. She knew the market and she was a great realtor to work with. I will save her number just in case anyone we know are in the market to purchase a new home. Jennifer was such an awesome agent! Jennifer was such an awesome agent! My husband and I were looking for our forever home and she went out of her way to make sure that we had everything that we were looking for! She was very down to earth, and talking with her was like talking to an old friend. She was available at all times to answer any questions we had. She also made sure that we understood everything that was going on, including paperwork, our next steps, what certain things to look out for. Jennifer was literally the best. I would, and have highly recommended her to many people. She was absolutely wonderful. Jennifer was my agent when I purchased a home in Petersburg, MI Jennifer was an excellent agent, assisting me while I was working remotely in Nevada, supporting in my home purchase every step of the way, until we closed successfully a few months later. She is knowledgeable and very professional.

Preface Hi, and welcome. If you’re holding this book, it’s likely because you’re thinking about your next home — whether that means buying your very first place or stepping into a new chapter by moving up. Either way, this moment is exciting, meaningful, and often accompanied by a little uncertainty. When you already own a home, the process becomes more than just finding the right property. You’re also planning a transition, protecting the equity you’ve built, and making decisions that impact both your lifestyle and your future. It can feel overwhelming — but it doesn’t have to be. My role is to help you move forward with clarity and confidence. Over the years, I’ve guided hundreds of buyers and sellers through this process, and I’ve learned that the most successful moves happen when there is a clear strategy in place. This book brings together the insights, tools, and real-world experience I use every day to help my clients make smart, informed decisions. Inside, you’ll find a thoughtful overview of the buying process, guidance on balancing your wants and needs, insight into financing and negotiations, and practical ways to avoid common mistakes. More importantly, you’ll gain a framework for approaching your move with intention — not stress. You could try to navigate all of this on your own, but you don’t have to. With the right plan and the right guidance, buying your next home can be a seamless and rewarding experience. My hope is that this book becomes your first step toward a move that truly fits your life.

Warmly,

Jennifer MacLeod

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CHAPTER 1 How Real Estat eal Estate Agents e Agents Help Home Buyers

I’ll come right out at the start and tell you I’m a real estate agent—proudly so! Nice to meet you! I’m not trying to sell you anything, but I’m pleased to be of service. I’m giving you the benefits of experience and advice I have gleaned throughout my career selling houses and being in real estate transactions—for both sellers and buyers. If you want me to help you find a house, we can talk. Call me if you need me. Technology has changed the way homes are sought and bought today. In this “Information Era,” most buyers are first introduced to the home they eventually purchase via the internet, through Zillow, Realtor.com, or one of hundreds of other real estate websites. With all this information available, you might wonder if you need a buyer's real estate agent. Can you handle the process on your own?

WHY HOME BUYERS NEED A REAL ES UYERS NEED A REAL ESTATE AGENT

Ah, not so fast, friend. The reasons to use a real estate agent today are as valid as yesterday. The ease of online transactions and the proliferation of services to assist buyers in handling their own real estate transactions came about recently, throughout the last decade. This has caused buyers to wonder if using a real estate agent is no longer necessary or if it's an expense that can be avoided. While doing the work yourself can save you money if you buy a “For Sale By Owner” (FSBO) house and the seller 2

agrees to reduce the price to offset agent compensation, for many, a do-it-yourself home purchase might be pricier than a real estate agent’s compensation in the long run. On most home sales, there is a listing agent (the agent engaged by the seller to sell the property) and a selling agent (the agent who introduces the eventual buyer into the transaction). The selling agent is sometimes called the “buyer’s agent” because he or she is often working on a certain buyer’s behalf, and it’s easier than explaining that the selling agent is not the listing agent but really the buyer’s agent. There are some real estate agents that market themselves as “buyer’s agents,” “exclusive buyer’s agents,” or “buyer’s representatives.” These real estate agents have chosen to make a business of finding homes for prospective buyers and handling the negotiations and transactions attendant to the purchase. These agents want to accentuate the reasons a buyer shouldn’t go directly to the listing agent when they purchase real estate. A buyer who goes directly to the listing agent and allows that agent to “manage” both sides of the transaction is dealing with an agent who has conflicting responsibilities. Their job is to get a good price for the seller, and they might not zealously represent the interests of the buyer. Those who market themselves as buyer’s agents indicate they’re only working for the buyer in a real estate transaction. A buyer's agent is therefore a real estate professional dedicated solely to representing your interests as the buyer throughout the home-buying process. Once you agree to work with a buyer’s agent, you will sign a written buyer agreement outlining key services and compensation. Then the buyer’s agent will work on your behalf, helping you find properties that meet your criteria, scheduling viewings, negotiating offers, and handling all the necessary paperwork and legalities involved in purchasing a

home.

BUYER AGREEMENT GREEMENTS

New regulations mean that potential home buyers need to enter into a written buyer’s agreement before touring homes. A written buyer agreement is a formal contract between you and your buyer's agent. It outlines the services your agent will provide, the terms of your working relationship, and how the agent will be compensated. Compensation for the buyer’s agent can be directly paid by the buyer or negotiated in various forms. This agreement ensures that both you and your agent are clear on your mutual expectations and responsibilities.

Key Components of a Buyer’s Agreement

• Services Provided: Details of what your agent will do for you, such as finding homes, arranging viewings, and negotiating terms. • Compensation: Clear disclosure of how your agent will be paid. This could be a percentage of the purchase price, a flat fee, or another arrangement. It's important to know that agent fees are negotiable and not set by law. • Term and Termination: The duration of the agreement and conditions under which it can be terminated by either party. • Consumer Protection: Disclosures related to your rights, confidentiality, and any potential conflicts of interest. Entering into a buyer's agreement provides several benefits. First, it brings clarity to your relationship with your agent, ensuring that both parties understand their roles and responsibilities. Second, it demonstrates a commitment from your agent to dedicate their efforts to your home search. Lastly, it offers

protection by safeguarding your interests and ensuring transparency throughout the transaction. By having a formal agreement, you can proceed with confidence, knowing that your agent is committed to helping you find your dream home while protecting your interests.

MORE ACCESS TO THE REAL ES O THE REAL ESTATE MARKE TE MARKET

A real estate agent will have better access to the market and a special knowledge of local conditions. The agent is a full-time liaison between sellers and buyers. An agent will have ready access to other properties listed by other agents. Buyers’ and sellers’ agents know how to put a real estate deal together. A real estate agent will track down homes that meet your criteria, contact sellers’ agents, and secure appointments for viewing the homes. On their own, buyers have a more difficult time with these things. This is even more so the case when a buyer is moving due to relocation or employment opportunity and does not engage a buyer’s agent to handle matters.

NEGOTIATING IS HARDER ON YOUR OWN

A real estate agent will keep the transaction “at arm’s length,” such that personalities and emotions do not become involved. Price negotiations take a special skill and understanding of the psychology of offering and counter-offering. Agents keep the transaction dispassionate and rational. For example, a buyer (you) might like a home but despise its wood- paneled walls, shag carpet, and lurid orange kitchen. When you work with an agent, you can express your opinions on the current owner’s decorating skills and complain about how much it will cost to upgrade the home without insulting the owner. Your agent will translate that to the seller—that you very much like the property but can see having to spend a certain amount in

decorating costs, and thus can offer that much less.

CONTRACTUALLY SPEAKING…

There are many contracts and documents involved in purchasing a house. The stack is more than an inch thick. Unless you’re a real estate lawyer or title agent, these documents will be foreign to you. Yet, they require detailed and accurate completions. Buying a property is not necessarily a “fill-in-the- blanks” transaction. One mistake, let’s say in title work, could haunt the buyer well down the line after purchase. This very situation happened. A property that sat on a double lot was put on the market. The neighbor bought it to carve off a bit of the second lot to expand his own yard. The seller then put the home back on the market, and it sold. Months later, through a property tax notification, it came out that, in preparing new deeds for the properties, the expanded yard area was correctly in the name of the neighbor; however, the house had been transferred to the home buyer. The new homeowner now owned both houses, and the neighbor owned his expanded driveway and yard. Fortunately, they were good neighbors and settled the matter with a few signatures. A real estate agent deals regularly with these contracts, conditions, and unexpected situations and is familiar with which conditions should be used, when they can safely be removed, and how to use the contract to protect you.

YOU WON'T NECESSARIL N'T NECESSARILY SAVE MONEY

The point of not using a real estate agent would be to save money, right? Otherwise, why would someone turn down professional

assistance in finding a home?

However, it’s unlikely that both the buyer and the seller will reap the benefits of not paying real estate agents. Buyers looking to purchase a home sold by owner without an agent may believe they can save money on the home by not having an agent involved, and so they look solely at FSBO houses. They might expect money to be saved and make an offer accordingly. Unless the buyer and seller agree to split the savings, they can’t both save that money—and that’s if the listing price was not already lowered to make it more market-attractive. Here’s a short list of the advantages that using a real estate agent can bring to your buying experience:

• Education and experience • Neighborhood knowledge • Price guidance • Market conditions information • Negotiation skills and confidentiality • The ability to handle paperwork • The ability to handle closing questions • Relationships for future business

It’s extremely important to know the “ins and outs” of real estate agents before you bring one along with you to help in your search for a home, just so that you know what to expect, and what will be expected of you.

WHO A REAL ESTATE AGENT IS GENT IS

Simply put, a real estate agent is someone licensed to list and sell real estate, including homes, multi-family properties, commercial, and industrial buildings. A REALTOR®, however, is somewhat different. A REALTOR® is a member of the National 7

Association of REALTORS®. While an agent is always a real estate agent, a real estate agent isn’t always a REALTOR®. As mentioned, real estate agents who work on behalf of the best interests of the buyer are commonly called buyer’s agents. All listing agents represent the seller, but other agents who don’t have buyer agreements with prospective buyers are working on behalf of the seller and must obtain the best price they can for the seller. Buyer’s agents are dedicated to looking out for the buyer's interests throughout the home-buying process. Buyers can schedule consultations with agents to learn more about the services they offer and to assess who can best represent their needs. Once buyers have decided on an agent who they feel can effectively represent them, they will enter into a buyer's agreement, formalizing the relationship and ensuring that their interests are protected during the search for their new home.

HOW TO CHOOSE THE BEST AGENT FOR YOUR NEEDS UR NEEDS

You might feel the urge to pick the first real estate agent who appeals to or approaches you, but that’s something to avoid. As with any professional, there are degrees of professionalism, dedication, and experience. The “wow factor” will simply wear off. Meet with prospective buyer's agents in their offices. A good buyer’s agent will want to know whether you’re pre-approved for a loan by a financer, what kind, and the terms of the loan you’re getting. They should spend adequate time to discover what you’re looking for in a house. They should listen as much as talk and ask questions. Watch to see if the agent makes notes. If the agent doesn’t broach the topic, ask for an explanation of his or her understanding of agency relationships and obligations

to you. The law requires agents to explain whether they’ll be working for the buyer or the seller whenever they have substantive contact with a customer or prospective client. If the agent doesn’t offer you a buyer’s agreement, that agent is representing the seller, not you. If the agent can’t explain agency concepts to you, then move to the next agent. Be sure that the agent will be showing you all listings or properties on the market that meet your requirements, and not only listings that are handled in-house. Buyer’s agents have the legal duty to put the buyer’s needs ahead of their own. Even when an agent will be paid more for selling an in-house listing, they must inform you about other available, suitable listings and take you to see viable prospects. A good buyer’s agent will provide a home-buying education. The listing agent will point out all the features of a home; a good buyer’s agent will point to the faults—or advise when they can be overlooked. Competent buyer’s agents help their buyers to think clearly as the home-buying process unfolds. For example, if a house is a good buy, a buyer’s agent might suggest looking past the dated bathroom and kitchen and look at the space above the garage that will make the perfect art studio you desire. Likewise, a cute house with all the amenities but with knob-and-tube wiring or a 40-year-old roof might not be worth the asking price. According to the San Francisco Chronicle’s Home Guide, if you decide to buy with the intention of building an addition, the agent should advise you to check the zoning before making an offer. Agree to sign a buyer’s agreement after you have met with an agent, and discuss the terms for payment, whether that's a negotiated commission structure or a direct payment from buyer to the buyer's agent. A buyer’s agent is legally required to maintain your confidentiality, disclose material facts to you,

including the potential for direct compensation, and maintain loyalty to you.

LOOK FOR PROPER CREDENTIALS

You wouldn’t trust a doctor who didn't have the proper credentials and licensing. Don’t trust a real estate agent who doesn’t present theirs or doesn’t have them at all. It’s easy to find real estate agents who can take the job, but finding agents with special credentials—those who have gone that extra step to take additional classes in certain specialties of real estate sales—is worth looking into. Here are just a few credentials within real estate that you should be on the lookout for: • Associate Broker: Completed additional training and minimal sales requirements • Accredited Buyer’s Representative (ABR): Completed additional education during representation of buyers in their transactions. • Certified Residential Specialist (CRS): Completed additional training during the handling of residential real estate, such as houses and apartments. • Seniors Real Estate Specialist (SRES): Completed training for the purpose of helping sellers and buyers 50+ years old. Similarly, if you choose to use a real estate agent who’s also a member of the National Association of REALTORS®, it will be a bonus. However, ensure they have credentials that are relevant to your need(s).

RESEARCH LICENSING

Your state will have a license board for all active REALTORS® and agents, which you can easily access. You will also be able to see their contact information, disciplinary actions, complaints, or any other information that you’ll need to help influence your decision—especially since most of the information is now posted online.

GIVE THE “WHAT ELSE” TEST

A good agent will know about all the other properties for sale in the area. Also, a good agent always does their research regarding the events in the current market, and those homes that are out there for the taking. In short, you want an agent who’s an expert of the current market, and someone who always stays on top of things.

RESEARCH THEIR BUSINESS ACTIVITY

Learning the type of market presence that a real estate agent has is the best way to figure them out. Ideally, you’re going to want an agent who specializes in one or two real estate markets, and who understands which types of homes and amenities are available within your price range. You can unearth this information by asking them or by asking the state licensing authority if you’re not comfortable with asking the agent directly. You’re better off with an agent who’s engaged actively in one area and price range—e.g., residential homes around the $200,000 to $650,000 range or the $800,000 and up range.

GOING THE BUYER'S AGENT ROUTE

So, you’re ready to take the plunge and look for a place to call “home.” To get the most out of it, use a buyer’s agent to avoid a flurry of paperwork, stampedes of buyers competing for the same

property, and other challenges. Home buying can be exciting and exhilarating, but it can also be complex and stressful — which is why having a pro by your side can make an enormous difference. True to the name, buyer’s agents assist home buyers every step of the way; they can also save you both time and money on the road to homeownership. When you find the right one for you, these real estate agents will work day and night to ensure all your needs and requirements are met when it comes to finding the right home.

GETTING STARTED WITH A B TED WITH A BUYER’S AGENT

Your buyer’s agent will have a vast knowledge of the current real estate market for the area, which will include neighborhood amenities and conditions, the law, zoning issues, price trends, negotiations, taxes, financing, and insurance. Once you meet with the buyer’s agent and sign the buyer’s agreement, they’ll generally help you determine your needs and wants when it comes to finding a home and a neighborhood. The agent will teach you what you can afford, help you set a budget, provide some insight on the current conditions of the market, and explain what you should expect while shopping for a home. During the shopping period, you’ll meet with your agent for tours of homes in which you might be interested. They will give your insight into the floor plans, the home’s pertinent selling points, and the overall crime rate of that neighborhood. They will also give you the rundown for local activities, restaurants, shopping centers, and schools nearby. Your agent is responsible for ensuring inspections of the homes are complete, as well as the disclosures therein.

They’re also in charge of ensuring coordination and completion is done through the roof inspector, attorneys, lenders, and all other professionals involved with the purchase of the home. If bargains need to be made over the price, you won’t have to negotiate yourself. Your buyer’s agent will do that for you, along with signing the final closing documents. They will be present whenever there are documents to go through and sign.

DUAL AGENCY: THE BASICS

A “dual agency” relationship occurs when a buyer is being represented by a brokerage firm that controls the listing. Once an agent represents both the seller and the buyer within the same transaction, the situation is known as “dual agency.” In multiple states, this is illegal because of the conflicts of interest that can arise regarding the broker. Even in states where allowed, dual agency must be clearly disclosed and consented to by all parties involved. This arrangement can create potential conflicts of interest, and buyers should be fully aware of these implications before agreeing to dual agency. All agents hold the same responsibility, which is to inform their clients of all potential risks that could arise due to conflicts of interest. Legally, agents are not allowed to work on both sides of any transaction without consent from the clients. If you’re selling your home and you don’t want your agent to also work with the buyer of your home, it’s your right to say so in the listing agreement. This is also true for buyers. A buyer can get out of an agreement with an agent if they are interested in purchasing a home their agent is listing.

When it comes to dual agency, there are definite advantages for

the seller.

• Trust has already been gained with your listing agent, so representation for the buyer has been established. • Your agent brought you the buyer knowing that you’re selling, even if your property has not yet hit the market. • Your listing agent will have already covered and researched your neighborhood’s market to gain buyer inquiries, which means your agent will be working from all sides of the deal to sell your house faster, and with more incentive. • Your agent works together with corporate relocation buyers who need to find a house quickly, and they will ensure it’s your house that’s bought. There are also cons for the seller when it comes to dual agency, and they are: • You can’t be advised by your agent as thoroughly when they must act as a dual agent because impartial facilitation is required. • Your listing agent is not allowed to negotiate the best or highest price for you if also negotiating both the best and lowest terms for the buyer. • Earning compensation from both buyer and seller, if the opportunity arises, may tempt the agent to coerce a deal that you might not accept otherwise. • Your agent may inhibit all access to your listing through buyers with agents. To avoid surprises or missteps in a dual agency sale, always ensure you have clarified important details with your agent ahead

of time. You can do this by using an exclusive buyer agreement, or a listing agreement.

HOW REAL ESTATE AGENTS ARE PAID

The compensation structure for real estate agents can vary, especially with recent regulatory changes that offer more flexibility and transparency. Agents are required to disclose their compensation arrangements clearly in the buyer agreement. This ensures that you, as a buyer, understand exactly how your agent will be compensated and can make informed decisions.

Possible Compensation Structures

Recent regulations now allow for more varied compensation structures. Buyers will need to be proactive in understanding the costs associated with their agent's services, and may need to factor these costs into their overall budget for purchasing a home. Here are some of the ways a buyer’s agent can be compensated: 1. Split Commission Model: August 17, 2024, commission information was longer communicated via the MLS (Multiple Listing Service). Compensation agreements based on commission must now occur off-MLS through negotiation and consultation between real estate professionals. These agreements may still follow the traditional split commission model, where real estate agents are paid a commission based on the final sale price of the home. This commission is typically a percentage agreed upon between the seller and the listing agent. If using this payment model, the buyer's agent would receive a portion of the commission, as arranged between the listing agent and the buyer's agent. Typically, all commission payments go through the broker managing the brokerage where the agent works. From there, the commission is split between the broker and the agent according to their internal agreement.

2. Direct Payment from the Buyer: The buyer may agree to pay their agent directly. This can be a flat fee, an hourly rate, or a percentage of the purchase price. 3. Negotiated Arrangements: Other customized compensation agreements can be negotiated between the buyer and their agent. Before you start touring homes, you will need to enter into a written buyer’s agreement with your agent. This agreement will outline the services your agent will provide, the compensation structure, and other terms of your working relationship. The greater flexibility for agent compensation methods due to recent changes in regulations reinforces the importance of entering into a written buyer’s agreement. This formal agreement ensures both parties are clear on expectations and protects your interests throughout the home-buying process.

CHAPTER 2 The Move-Up Str e-Up Strategy How to Sell Smart, Buy Confidently, and Upgrade Without Stress If you already own a home, buying your next one isn’t just about finding the right property — it’s about timing, strategy, and protecting the equity you’ve worked so hard to build. Move-up buyers face a unique challenge. You’re not starting from scratch. You’re juggling two major decisions at once: selling your current home and buying the next one — without unnecessary pressure, financial risk, or disruption to your lifestyle. This chapter is designed to help you understand how to approach a move-up purchase with clarity and confidence.

Understanding the Move-Up Buyer Advantage

One of the biggest advantages you have as a move-up buyer is equity. Unlike first-time buyers, you may already have: • Significant equity in your current home • Strong credit history • A clear sense of what you want — and what you don’t • Experience navigating a real estate transaction However, equity alone doesn’t guarantee a smooth transition. The key is using that equity strategically, not emotionally. That’s where planning makes all the difference.

The Biggest Question: Sell First or Buy First?

There is no one-size-fits-all answer — and anyone who tells you otherwise is oversimplifying a very important decision. Here are the most common options move-up buyers consider:

Option 1: Sell First, Then Buy

This approach offers:

• Certainty about your budget • Strong negotiating power as a non-contingent buyer • Less financial risk The trade-off is timing — especially in competitive markets — which is why planning housing transitions in advance is critical.

Option 2: Buy First, Then Sell

This can work well when: • Inventory is tight

• You find “the one” unexpectedly • You have access to bridge financing or equity solutions This option requires careful coordination between your Realtor and lender to avoid carrying two homes longer than planned.

Option 3: Simultaneous Close

A coordinated sell-and-buy timeline can minimize disruption, but it demands: • Accurate pricing • Strong contract negotiation • Experienced transaction management This is where professional guidance becomes invaluable.

Why Pricing and Preparation Matter More for Move-Up Buyers

For move-up buyers, your current home isn’t just a house — it’s your leverage.

Pricing your home correctly from the start: • Protects your buying timeline • Prevents extended market time

• Preserves your negotiating position on the purchase side Overpricing — even slightly — can create delays that ripple into your next purchase, increasing stress and limiting options. Strategic preparation, staging, and marketing aren’t about aesthetics alone — they’re about control.

Avoiding the “Upgrade Trap”

Many move-up buyers focus only on what they’re gaining: • More space • Better layout • Newer features • Improved lifestyle But it’s just as important to evaluate: • Monthly payment comfort (not just qualification)

• Long-term maintenance costs • Property taxes and insurance

• How the home fits your next 5–10 years, not just today A thoughtful move-up strategy balances lifestyle improvement with long-term financial stability.

How the Right Team Changes Everything

A successful move-up purchase requires coordination — not just transactions.

The right strategy includes: • A clear plan for selling your current home

• A lender who understands equity-based solutions • A realistic buying timeline • Contingency planning • Clear communication every step of the way When these pieces work together, move-up buyers experience: • Less stress • Better outcomes • More confident decisions Moving up isn’t about rushing or guessing — it’s about strategy, preparation, and guidance. With the right plan in place, upgrading your home can be one of the most rewarding transitions you’ll ever make — financially and emotionally. If you’re considering your next move, the most important step isn’t touring homes — it’s understanding your options and building a smart plan first.

The Signature Move-Up Experience

A clear, step-by-step approach to selling your current home and securing the right next one — with clarity, confidence, and white-glove service at every stage.

CHAPTER 3 Buyers' Needs and Desires

After you’ve decided to buy a home, what sort of home it will be is your next decision point. It’s a better approach to have a concrete vision in mind of what type, features, and amenities you want in your home, rather than a “shotgun look” at every listing that’s out there in your price range. Imagine your dream house. It fulfills both your needs and desires. It fits the need for a good roof over your head, a sturdy structure, modern fixtures and appliances, living space (i.e., bedrooms, living room), and functional rooms (i.e., kitchen, bathroom[s]). Your needs fulfilled, you turn to your desires. Perhaps you envision a home on the beach or in the woods, a gourmet kitchen, a wood-paneled den, a crystal chandelier over a banquet table in the manor-sized dining room or an Olympic-sized swimming pool with a hot tub and sauna. Your priority in any home purchase should be ensuring all of your needs are met. Sometimes, you won’t find everything you desire in a home and if you do, you may not be able to afford it. It’s important to prioritize the things you want in a home by how important they are in your search.

Decide your needs vs. your desires.

• Would you like a swimming pool? Enough that a home without one will not be looked at? • In what areas or neighborhoods might the home be located? Where do you want to live? Where might you have to live for work commute or home price reasons? 22

• What features would make it special? • What can you afford and what is out of your budget?

Budget usually constrains us most in selecting a home. While some things are necessary for any home (as mentioned, a good roof and working appliances), others will just stay on the list of desires for now (like the sauna).

MAKE A LIST; CHECK IT T ; CHECK IT TWICE

You may have an impression of what you want in your new home. Putting that to paper and having a complete checklist can prove useful. Before starting your hunt for a new home, it’s advisable to make a list of all your basic needs and desires, then prioritize the desires, figuring that all needs must be met in any house under consideration. This will make the search easier and help weed out the ones that don’t meet the basics. Realize, however, that it’s nearly impossible to find a home that meets all requirements. Compromises will be necessary. It’s a good idea to work from outside-the-house factors to inside- the-house. For example, location is perhaps the primary concern and both “needs” factors and “desires” factors might be involved. A “need” would be “must be within 25 miles of work.” A desire might be, “would like Westwood” (a favored neighborhood), while a need might be “on the west side of the city” (because work, family, friends, and recreation activities are all located there). Location needs may include proximity to schools, frequently used recreation facilities, or mode of transportation (bus or suburban rail access). Whether an item is a need or a desire depends on circumstance.

Closeness to family might be a need for a couple with young children or elderly parents to care for—or a desire if those factors aren’t involved. It’s items like these that make a checklist most helpful. After location needs and desires are compiled, housing factors can be considered. Needs include having all essential house structures and systems in good working order. Accepting a house with need for a new roof because the owner is willing to knock $7,000 off the listing price—but it will cost $10,000 to replace the roof in two years—is not a sensible deal. Needs might include a minimum number of bedrooms and bathrooms, no steps, fenced yard, perhaps a first-floor laundry facility, and any feature the prospective buyers have decided they cannot accept a home without. Desires are features that make the home more attractive or enjoyable—an upgraded kitchen, walk- in closets, a master bedroom suite. Of course, one buyer’s need is another buyer’s desire. The point is to know your own needs and desires so you can easily assess potential properties and make the process smoother. Regardless, buying a house is not a simple process. Much of the planning should be done well before contacting a real estate agent or looking at homes. Work the costs as well as your budget. Choose a general location. Contact lenders well ahead of home shopping, so that your offers aren’t tied up in getting financial approval. Having the image of your dream home is reality married with imagination. In fact, you may find that some aspects of the house you intend to buy are different. It’s not the same as what your dreams told you. Different people have different requirements. It depends on your thought processes, as well as personality.

We understand important things and potential compromises

differently. Needs are basic requirements that just can’t be ignored or compromised. Desires, on the other hand, can be left behind if the situation demands it. You need to make a clear distinction between what your needs are and which items you would classify as desires. No matter how many desires you have unfulfilled now, they can be worked on later. A pool can be added and paint colors can always be changed.

A NOTE ABOUT PETS

Consider your pets in your home shopping. Home buyers who are pet owners have specific requirements—they must provide for their pets. A third of millennial-aged Americans (born between 1981 and 1996) who purchased their first home (33%) say the desire to have a better space or yard for a dog influenced their decision to purchase the home, according to a survey conducted online by Harris Poll, on behalf of SunTrust Mortgage. Dogs ranked among the top three motivators for first-time home purchasers and were cited by more millennials than marriage/ upcoming marriage, 25%, or the birth/expected birth of a child, 19%. It’s essential that the neighborhood in which you’re going to buy a house has no restrictions on pets—or livestock, if that’s something you desire. Do you raise American Staffordshire Terriers, also known as pit bulls? There are neighborhoods that ban this breed. What about goats? Vietnamese pigs? Have you always wanted fresh eggs from your own chickens? Include your animals in location planning. Some pet owners choose wood or other hard flooring, not wanting to risk pet damage or odors.

An appropriate-sized fenced backyard is on the “needs” list for

many pet-owning house buyers. Consider the arrangement of rooms and the structure of the house to ensure it’s suitable for your pets, too. Traffic in the area could be another checklist item. Pet services, such as veterinary, grooming, and exercising, should be conveniently nearby.

LOCATION, LOCATION, LOCATION!

You must make sure to limit your search to a neighborhood that offers the closest possible match to the kind of lifestyle that you like and want to live. In addition, based on the 2021 NAR Generational Trends Report, 62% of homebuyers ages 22-95 years old prioritized the quality of the neighborhood as a reason for purchasing a house and primary reason for neighborhood choice. Location is so important that people are willing to give up “must- have” features to buy into their desired neighborhood—72% would forget about a pool, 55% would lose a finished basement, and 33% would accept less square footage. What matters is living in a safe place with good schools. According to Trulia, 69% would drive through the neighborhood during different times of day to determine if the neighborhood was the right fit. You can’t go shopping for a home without choosing a location where you’d like to live. Probably the most significant decision when buying a home is where it is. Location influences your everyday life. Your property does not exist in a bubble; it’s part of a bigger community. It’s important to find a neighborhood or area that suits your needs. Do you want the peace of a secluded woods, or the energy of a bustling city center?

Do research before starting your search. Drive through the area and see if all the stores, activities, and features you want are there. Eat at local restaurants and walk through a nearby park. As price is mainly based on location and condition of the property, when someone starts looking for their house, it’s important to consider the location and how far it is from schools, shopping areas, and other facilities. Home means comfort, and comfort can’t come if the location isn’t suitable.

CHAPTER 4 Real Estate Horror Stories to Learn from

You’ve seen frightening stories like this on TV. Perhaps you’ve heard about them from neighbors or co-workers, but you still haven’t witnessed anything like them yourself. Be warned. The first time is one time too many. Now that you’re in the market for your first home, or maybe a second or third, congratulations! Buying a new home is one of the biggest achievements for many people. Unfortunately, home buyers—especially first-time buyers—can be the victims of real estate horror stories. Absolute horror, from the buyer’s perspective. Here are a few examples. Alex was excited about making her first home purchase. Being in the Washington, D.C., area, she was limited with pricing options, with many of the lower-cost homes around $250,000. She went to several banks and got preapproved for different amounts at various lower interest rates. She found her dream condo, and, after some deliberating, she decided to go with the lowest rate of 6% offered by her lender. She completed her paperwork and submitted it with her 10% deposit. The rate wasn’t her only deciding factor. Personnel had been friendly and great at communication, making her feel very comfortable about the process. Until now. Suddenly, it seemed as though all of the bank's cooperation dropped off the map. A closing process that should 28

have taken 30 days or less turned into several months of waiting and a larger deposit of an additional $20,000. They ran her in circles, until the seller told her, through the real estate agent, that the deal was over if she didn’t find another solution. Luckily, the seller’s real estate agent referred her to another lender and was able to help her to obtain another loan (although at higher interest) much more quickly. It turned out the first lender was a scammer. In another case, Ron and Jenna were planning on upgrading to a new home. After a long search, they found it—or so they thought. A bright and colorful kitchen, open living and dining areas, three bathrooms, high ceilings, a fireplace, and even a covered porch made the home seem perfect. They were especially thrilled that the price was only $235,000. That was a steal. They signed the contract and were in the house a little more than a month later. Less than six months later, the horror story began to unfold. Jenna was cleaning one of the bathrooms when she noticed tiny little ants with wings. Following Ron’s advice, she called the exterminator. When he arrived, he delivered the first blow—these winged ants were te rmites. Th e exterminator went under the house to assess the damage. He found that not only was the floor under the bathroom completely infested, but also the other two bathrooms, and the infestation was spreading to more of the house. The grand total to repair this problem came to over $12,000! That’s an unbelievable amount of money to unexpectedly invest in a house you’ve only lived in for less than six months.

The key lesson here is to really know the house that you’re buying.

You should always hire an exterminator on your own to investigate the house, particularly for termites. If you’re going to make such a huge investment in a new home, the small price of precaution is worth it. The stories continue endlessly. I recently met a woman at a café with an incredible first-time buyer story. I happened to overhear her conversation, so I decided to step in and ask about it. Sue and her fiancé were searching for their first home with the intention of buying one before their wedding. They had been told about a great real estate agent in the city where they wanted to call home, and so they looked him up to ask his help in finding the right home. The problem was that the only praise they heard about him was from clients who had hired him to sell homes, not from home buyers. The agent met up with Sue and her fiancé to go over different homes he had on his list, and then it was time to take a trip around town to see them. There was one home that he talked profusely about, and so they went in person to take a look. Sue and her fiancé knew what good quality was, and so they were able to see right away that there were problems. The basement doorway was weak. The upstairs bathroom floor bounced, and the light switches in the hallway seemed to pop and flicker. Although very nicely painted, this house didn’t fool them. When confronted with these concerns, the agent replied that they could always fix those problems later. Although their gut told them not to move forward with making a purchase, they agreed to a $10,000 price reduction and took the house.

Big mistake! The problems they had noticed went much deeper. The weak basement doorway translated into unfortified walls leading downstairs. The bouncy bathroom floor had been wet under the linoleum and about three inches up two of the walls. The flickering light switches were warning them of the outdated wiring which had to be replaced. In the end, their $10,000 savings only helped to give them a bit of consolation when they paid $27,000 for all of the remodeling! The five-bedroom house sat on pastoral acreage in the American countryside. At less than $180,000, it seemed a steal. But it wasn’t a bargain. Ben and Amber soon realized the dream home they had purchased for their growing family was infested with hundreds of garter snakes. Throngs of reptiles crawled beneath the outer walls. At night, the young couple said they would lie awake and listen to slithering inside the walls. It was like living in a horror movie. The home was most likely built on a winter snake den, or hibernaculum, where the reptiles gather in large numbers to hibernate. In the spring and summer, the snakes fan out across southeast Idaho, but as the days get shorter and cooler, they return to the den. At the height of the infestation, the home buyer said he killed 42 snakes in one day before he decided he couldn’t do it anymore. He waged war against the snakes and “they won.” Buyers had little recourse when they decided to flee the home. They had signed a document, noting the snake infestation. They said they had been assured by their agent that the snakes were

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