BUYERS GUIDE
Your Exclusive Buyers Agent
Before working with a real estate
Agent, you should know that the du-
ties of a broker depend on whom the
broker represents. There are 3 ways in
which you can be represented during
the purchase transaction. Our goal is
to be your Exclusive Buyers Agent, in
order to assist you in making informed
decisions throughout the entire home
buying process.
- GROUP WATSON
The Wise Choice
You should enter into a written agree-
ment with the Agent that clearly estab-
lishes all parties obligations. The agree-
ment should state how and by whom
the Agent will be paid. You have the
right to choose the type of representa-
tion, if any, you wish to receive. Your
payment of a fee to a broker does not
necessarily establish that the broker rep-
resents you. If you have any questions
regarding the duties and responsibilities
of the broker, you should resolve those
questions before proceeding.
The Agent Represents the Buyer
(Win for BUYER/Win for SELLER)
The Agent becomes the buyers agent by
entering into an agreement to represent
the buyer, called a Buyer/Tenant Repre-
sentation Agreement. A buyers agent
can assist the owner, but does not repre-
sent the owner and must place the inter-
ests of the buyer first. The owner should not
tell a buyers agent anything the owner
would not want the buyer to know be-
cause a buyers agent must disclose to the
buyer any material information known by
The Agent Represents the Seller
(Win for SELLER only)
The Agent becomes the owners agent by entering into an agreement with the owner,
called a Listing Agreement. A Listing Agent can assist the buyer, but does not represent
the buyer and must place the interests of the owner first. The buyer should not tell the
owners agent anything the buyer would not want the owner to know because an own-
The Agent Acts as an Intermediary
(Win for BUYER/Win for SELLER)
If the home you purchase is listed with our
team, then your buyers agent will be as-
signed to represent you in an intermediary
capacity. Still bound by the duty of confi-
dentiality, your agent cannot disclose any
of your information to the sellers agent.
This scenario happens when one Broker
represents both parties in a real estate
transaction. This is why agents are
assigned to represent each party exclu-
sively. Each party must acknowledge this
Our Goal is to
Save You Time
and Money!
What We Can Help You Shop For:
Whether it is your first home or your fifth, a retirement home, or an investment property;
we will make your home-buying experience fun and exciting. We can find the perfect
home for you, with the least amount of hassle. GroupWatson is devoted to using our ex-
pertise and the full scope of resources we have available to us, to achieve these results.
Resale (Pre-Owned, Existing Homes)
The advantages of having an Agent represent you in the purchase of a resale home are many.
Having a personal real estate advocate protecting your best interest is one of the most im-
portant. We have extensive knowledge of the market and can find the right home by evaluat-
ing your wants and needs, based on our initial consultation with you. You will want a profes-
sional whose expertise is in negotiating terms and writing a contract that benefits you. We will
also assist with the closing and coordinate all the moving parts that surround a purchase trans-
action.
For Sale By Owner (FSBO, Existing Homes)
We have worked with homeowners who wished to sell their homes themselves. In fact, a num-
ber of our listings have been individuals who tried unsuccessfully to sell their homes themselves.
We have knowledge of all FSBO properties in the area and will be happy to arrange a showing
for you. In this transaction, you will continue to be represented by us, according to a Buyers
Representation Agreement. It is the Seller who loses, as they complete the transaction with no
professional representation.
New Construction (BuilderNo Prior Owner)
Buying a new home can be more difficult and time consuming than buying a resale home.
Many buyers are not aware that the sales representative at new construction sales centers
work for the builder, and do not represent the buyers best interests. It is very important that
your interests be professionally represented when you are entering into a contract for a semi-
custom or build-to-suit home. These transactions are complex and the contract de-
tails must be exact, in order to protect you and to ensure you get exactly the home you
want!
STEP 1
Find A Realtor You Can Trust
STEP 1 1/2
Obtain Pre-Approval From Lender
Obtain Pre-Approval From Lender
Complete Mortgage Application
Credit Report
Verification
Define Your Search Criteria
Consult with Realtor
Realtor Locates Properties
View Properties with Realtor
Realtor Writes and Submits Offer
Deposit Earnest Money in
Escrow
Deliver Option Fee to Seller
Realtor Negotiates Counter Offer
Contract Accepted by all Parties
Contract is Executed
Home and Termite Inspections
Review Inspection Report
Negotiate Repairs
Lender Orders Appraisal
Title Orders Survey, If Needed
Choose Home Insurance
Choose Home Warranty
Arrange for Utilities Switch
(at least 3 days prior to Closing)
Money Needed Prior To Closing
Credit Report
Earnest Money
Option Fee
Inspection Fee
Appraisal
Take Possession of Your
New Home!
Attend Closing
Tasks and Timeframes
We will go through several steps together, while finding and pur-
chasing your next home. Our goal is to do for you, as a part of
our commitment to customer service; however, there are some tasks that will re-
quire some work from you. We will keep you well-informed about every aspect of
the transaction and notify you when there are steps that require your involvement.
The flow chart on the previous page shows the process, from Step 1 to taking pos-
session of your new home. We have broken each step down into the following sec-
tions...
Task:
Obtain Pre-Approval from
Lender
Time Frame:
Before We Begin Searching
The other first step in buying a home (besides
choosing the right Realtor) is choosing a lender
and obtaining a pre-approval. This provides you
and your Realtor the information needed to de-
termine how much home you can afford and
what type of monthly payment you are comfort-
able making. Many Sellers do not consider of-
fers from byers who are not pre-approved. We
work with several lenders who have proven to
offer exceptional service and competitive rates.
Let us know if you would like a list of lenders to
choose from.
Three Elements are Crucial to the
Purchase of a Home:
Down Payment
Closing Costs
Loan
Qualification
SO YOU ARE
READY TO BUY
A NEW HOME! We would like to provide you with information up-front, to prepare you for your search.
It is important that you are aware of the costs associated with purchasing your home.
FINANCING The single most important thing for
you to do before beginning your
search for a new home is to select
and meet with a Lender. There
are several reasons you must do
this first:
1. It determines your monthly
payment.
2. It determines your purchase
price range.
3. It determines how much is
needed for down payment
and closing costs.
4. It helps your Agent negotiate,
on your behalf, from a stronger
position.
Costs Prior to Closing
You will need to write 3 checks prior to closing
on your new home. All costs are averages
and will vary with price, size and unique fea-
tures of the property.
Earnest Money is payable to the title com-
pany that is handling the transaction. This will
be determined in the purchase contract. It is
credited towards the sale price. (typically, 1%
of sales price)
Home Inspection is payable to the Inspec-
tor, at the time of the inspection. Inspections
take place during the Option Period, which is
determined in the purchase contract. ($300-
$500)
Appraisal is payable to the Lender, once the
Option Period is over. (approx. $500)
If you have trouble coming up with the down payment, there are some tips to ease the
burden:
Start Early. Begin saving for a down payment as soon as possible. After a few years, it adds up.
Pick the Right Loan. Fannie Mae loans only require 3% down provided that you have good
credit.
Convert Stocks. Consider selling stock for the down payment. The housing market is often a
better investment. Sell an asset. If you have toys such as a boat, extra car, or other asset,
consider selling it for the down payment.
Money from Relatives. Today lenders will allow you to use money from relatives as the down
payment if it is provided as a gift. Check with your lender for any possible restrictions.
No matter what type of home you purchase, you will have closing costs associated
with the transaction. In most cases, these costs are paid at the closing table, however,
in some instances, they can be rolled into the mortgage. These costs can include, but
are not limited to:
Origination Fees Appraisal
Title Insurance Document Preparation
Attorneys Fees Loan Underwriting Fees
For conventional nancing, Lenders usually limit the monthly payment to 28% of your
gross monthly income, but exceptions can be made depending on individual circum-
stances. The amount of debt you currently have could also factor affect the outcome.
You must contact a Lender, prior to making an offer. This gives you an opportunity to
resolve any issues that may arise...without the pressure of contract deadlines. You must
also be Pre-Approved for a loan , which puts you in the strongest position with Sellers.
Upon acceptance and execution of the purchase contract,
you must arrange to have a home inspection performed.
This inspection appointment can be set by your Agent, and
must be as soon as possible. The Option Period of the con-
tract is the time to have any inspections done, so if some-
thing is discovered during inspections, that you cannot live
with (and the Seller is not willing to repair/replace) you have
the ability to terminate the contract and receive a full re-
fund of the Earnest Money.
It is important to remember that all homes will have a
long list of minor repairs, however, we focus on the
structural or mechanical defects of the structure, as
well as any safety or code issues.
The inspection cost is dependent upon the size and
features of the home, but usually runs between $300-
$500 - due at the time of inspection.
Task:
Inspection
Time Frame:
Upon Execution of Contract
Task:
Repair Requests -
Contract Amendment
Time Frame:
Agreement of Repairs -
Upon Execution of Contract
Amendment
After the Inspection, a contract amend-
ment will address any items that were dis-
covered during the inspection that you
would like the Seller to repair for you. Your
Agent will negotiate on your behalf with
the Seller, for the repairs you want com-
pleted. Once an agreement on repairs has
been reached, you will forfeit your right to
any further repairs on the property.
A requirement to close on your new home
will be homeowners hazard insurance.
Once you have chosen your insurance car-
rier of choice, notify your lender and supply
them the contact information.
You will need to transfer the utilities to
your name before moving into your
new home. In order to save money on
standard hook-up fees, call ahead
and ask the utility companies to transfer
the billing to your name, upon cancel-
lation by the Seller. We have included
a list of local utility companies and their
contact information, for your conven-
ience. If you need further information,
please call us; we are here to help you!
Task:
Obtain Homeowners
Insurance
Time Frame:
Once Option Period is Over
Task:
Transfer Utilities / Schedule
Service
Time Frame:
Two Weeks Prior To Close
**Remember, you will receive a discount by
having your car insurance and homeowners
insurance with the same company (bundled
coverage). Make sure you ask insurance
agent for details. We recommend that you
obtain at least 2-3 estimates from different
agents and then make a decision. We have
a list of preferred vendors that are available
to our clients, in the event they do not already
have an insurance agent in mind.
Task:
Ensure Funds are Availa-
ble in Bank Account
Time Frame:
One Week Prior to Close
Obtaining Pre-Approval for a home loan is just the rst step in funding your loan
at closing. If you plan to use monies from stocks or 401(k) retirement plans as a
down payment or supplement on your down payment, the money from the sale of
these funds must be available in the form of cash in your bank account prior to
closing. Because a withdrawal from a 401(k) can be a complicated and time-
consuming process, we advise you to begin the withdrawal of these funds as soon
as possible.
Check with your lender, regarding stipulations for a successful loan approval. On
average, most home mortgage loans go through a quality control check. The
lender does this to ensure that the borrowers nancial status has had no change
since the approval of the loan was granted. No matter how good your nancial
situation, lenders strongly advise against changing your nancial status from the
date of your loan approval. This includes, but is not limited to, applying for new
credit, gaining new credit, purchasing appliances, furniture, cars, changing jobs
or quitting your job. An appropriate time to make any of the above nancial
changes would be after the closing and funding of your new home. If you have
any questions about your purchase decisions while you are waiting to close on
your new home, please consult your mortgage lender for advice.
Task:
HUD 1 Settlement Statement
Time Frame:
24 Hours Prior to Close
Task:
Closing
Time Frame:
According to Contractual
Terms
The closing will take approximately one
hour. The escrow agent will go over all
documentation with you, explaining the
purpose of each one. Your Agent will at-
tend closing with you, and sometimes the
lender is present, as well. You will receive
the keys to your new home, at the time it
funds. The exception to this would be if a
Sellers Temporary Lease was included in
the purchase contract. Then the keys
would be turned over, at the end of the
lease term.
The closing attorney will complete the HUD 1
settlement statement approximately 1 day pri-
or to closing. Sometimes, the HUD 1 comes in
an hour before closing! This document tells
you how much money you must bring to clos-
ing. You may either wire the funds from your
account or bring a cashiers check to closing.
MOVING TIPS...
Preparation and organization are key in determining whether or
not your move will be stress-free. Follow the steps below to en-
sure that your move will be smooth:
3 Weeks Before the Move
Make arrangements to hire a mover or rent a truck. Make babysitting and/or pet care arrangements for moving day. Organize all move-related documents in one place.
2 Weeks Before the Move (once the appraisal in clear)
File a change of address form at the post office. Change the address on all newspaper and magazine subscriptions. Arrange for transfer of all medical, dental and school records. Transfer medical, fire and auto insurance. Cancel or transfer utilities (water, gas/electric, phone, TV, cable/satellite internet.
Check with your provider about cell phone service in your new area. Transfer prescriptions to a pharmacy near your new location. Transfer bank accounts. Collect or purchase all packing supplies; boxes, wrapping paper, bub-
ble wrap, labels, markers, box cutters, or scissors and packing tape.
Pack up items in garage, attic and storage areas. Confirm arrangements with movers or truck rental places.
1 Week Before the Move
Begin packing boxes, labeling each as you fill it. Empty, defrost and clean refrigerator, freezer and stove. Return all rented movies, library books, video games, etc. Pick up anything outstanding, such as dry cleaning, prescriptions,
etc.
1 Day Before the Move
Do a final check of closets, cabinets and drawers. Make sure you have enough cash on hand for the move. Take out all trash. Fully-charge all cell phones. Touch base with movers or the truck rental place for final confirma-
tion or arrangements.
The Day of the Move
Exchange contact information with the movers in case you need to get in touch with them while in-route. Include your old address, cell
phone number and directions to the new location.
Keep jewelry and other valuables with you in a box that you move yourself.
Prepare a box of supplies that you will need right away on move day, such as: cleaning supplies, snacks & beverages, toiletries, bath and
bedding items, trash bags, disposable dishes, pet food, cell phone
chargers, prescriptions, eyeglasses, change of clothing, etc...
Do a final check before locking the doors. Confirm that you have turned off the furnace/air conditioner, lawn sprinklers, and light
switches.
Leave keys, garage door openers and manuals on kitchen counter.
MEET GROUP WATSON...
Owner / Team Lead
Tammy Watson - Broker/Owner
Tammy Watson is a Broker Associate with Keller Williams, the Team Leader for her group
and co-owner of GroupWatson. She brings 23 years of real estate experience to the
team and is driven by her commitment to provide superior customer service and per-
sonal care to each of her clients.
She is passionate about what she does and believes in taking the time to educate her
clients so they have the knowledge needed to make the best decisions when buying or
selling real estate. She is on your side and will always look out for your best interests. She
has a reputation within the industry of fighting diligently for her clients.
Group Watson has won several awards, including: 100% Club, Top 100% Selling Group,
Top 100% Listing Group and has been Double, Triple & Quadruple Gold producers year
after year.
Scott Watson-Realtor/Owner
As the Co-Owner and Finance Officer for Group Watson, Scott brings 20 years of reloca-
tion management experience, excellent marketing skills and superior technology-based
ideas, which have been instrumental in the success and growth of the team over the
years.
Scott services both buyers and sellers, in addition to running all relocation, investments
property management operations for GroupWatson. His knowledge of the home
buying/selling process, in relation to the ever changing market, is vital to your investment
decisions. Scott is always willing to help and is committed to your success in every trans-
action!
Administrative Staff
Barbie Green - Director of Client Services
Barbie Green is the Director of Client Services and Assistant to Tammy Wat-
son. Barbie brings 9 years of real estate experience to the Group. She has
been licensed in the states of Tennessee, Mississippi and is currently licensed
in Texas. She is experienced in new home sales, office management and has
a photography degree from Memphis College of Art.
Barbies goal is to ensure everyones needs are met, concerns are addressed and that
every transaction runs smoothly and successfully. She specifically handles listing support
details, listing and contract paperwork, open house coordination, contract-to-close tasks,
and more. Whatever your needs may be, Barbie is here to assist you!
Amy Moreno - Director of Marketing and Advertising
Amy is the Director of Marketing and Advertising for GroupWatson. Her re-
sponsibilities include the coordination of marketing and advertising for the
team, production and distribution of listing marketing pieces, as well as work-
ing in the capacity of Assistant to the team. Amys drive for quality and fo-
cus on client retention is in-line with the entire teams commitment to an ex-
ceptional Standard of Service.
Amy became licensed and entered the real estate industry as a Realtor in 2008. Since
then, she has worked in the capacity of Transaction Coordinator, Team Administra-
tor/Office Manager, as well as worked on-staff at Keller Williams Frisco, as the Director of
Agent Services. Due to her broad expanse of experience with all aspects of real estate
sales, she brings a wealth of experience and knowledge to the team. Prior to working in
Team Agents
Lisa Ellard Realtor/Lead Buyer Specialist
With a background in marketing and journalism, Lisa is well equipped
to offer her clients savvy business advice, while always keeping their
lifestyle needs a priority. She is a detail-oriented professional who is
dedicated to providing her clients with the best service possible
through effective communication and expert buyer representation.
Lisa strives to build lasting relationships with her clients. She provides personalized guid-
ance through the entire home buying process, based on a foundation of honesty and
integrity. Her clients best interests are of utmost importance and she is committed to
earning respect by providing service that exceeds expectations.
Leeanne Pritchard Realtor/Buyer Specialist
Leeanne brings over 34 years of customer service experience to the
Group and is dedicated to making sure that the needs of her clients
come first. Her friendly demeanor and Can Do attitude make her
clients feel at ease and confident throughout the entire process.
Leeannes goal is to keep her clients informed from the beginning of a transaction until
the end, with the purchase or lease of your property. She is consistently dedicated to
your success!
Team Agents
Tammy Hanks - Realtor/Buyer Specialist
Tammy is committed to guiding, educating, and communicating
with her clients to help them realize their dream of home owner-
ship. Motivated by establishing a Win-Win relationship, she exem-plifies the characteristics of integrity and honesty, always keeping
her clients best interest as a high priority.
Tammy stays on top of the most current market conditions and ever-evolving real
estate trends, in order to best serve her clients, community, neighbors and friends.
She has a reputation of being very personable and professional, yet willing to
"Bulldog Up" when it comes to her Buyers best interests! Her goal is to build a lifelong relationship based on respect, goals, and lasting memories. By providing excellent
customer service and giving 110% of herself in every transaction, Tammys clients are in the hands of a capable professional!