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The The Ultimate Ultimate

BUYER S GUIDE ’

Your Your Partner Partner in in Homeownership Homeownership

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WELCOME

ADVANTAGE OF HIRING A BUYER’S AGENT

HOW A BUYER’S AGENT GETS COMPENSATED

HOME BUYING PROCESS

BENEFITS OF OWNING A HOME

IS NOW A GOOD TIME TO BUY?

PREPARE TO BUY

GETTING PRE-APPROVED

FINDING YOUR DREAM HOME

MAKING AN OFFER

HOME INSPECTIONS & NEGOTIATIONS

THE APPRAISAL

FINAL UNDERWRITING & LOAN APPROVAL

THE FINAL WALKTHROUGH

CLOSING DAY & MOVING IN

ONEPOINT

Dear Home Buyer, Welcome — and congratulations on taking the first step toward homeownership! Whether you're a first-time buyer or making your next move, this guide is designed to walk you through the process with clarity and confidence. Buying a home is one of the biggest decisions you'll ever make, and I want to make sure you feel informed and supported every step of the way. Inside, you'll find a breakdown of the home buying process, helpful tips, and the tools you need to make smart, confident decisions. Rector Hayden's commitment to you is simple: honest guidance, clear communication, and dedicated support from the first conversation to closing day and beyond. I'm honored you have chosen Rector Hayden to be part of this journey with you. Let's find you a home you love. Warmest regards,

Stacy Durbin President

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Buying a home is one of the biggest financial decisions you’ll make, and having the right guidance can make the process feel much more manageable. A buyer’s agent is there to help you understand the market, find homes that fit your needs, protect your interests, and guide you from your first showing to the closing table.

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Understand the local market: Your agent can help you compare homes, neighborhoods, pricing, and current market conditions. Find the right homes: Beyond online searches, your agent can help identify properties that match your goals, budget, and lifestyle. Spot potential concerns: From condition issues to resale factors, your agent can help you look beyond the surface. Write a strong offer: Your agent can help you decide on price, terms, timelines, contingencies, and other details that may make your offer more competitive. Navigate negotiations: Whether it’s price, repairs, closing costs, possession dates, or other terms, your agent can advocate for you throughout the process. Manage the details: From inspections and deadlines to communication with lenders, title companies, and the seller’s side, your agent helps keep the process moving. Protect your interests: A buyer’s agent represents you and helps you make informed decisions every step of the way.

With a trusted buyer’s agent by your side, you don’t have to figure everything out alone. You’ll have someone helping you ask the right questions, understand your options, and move through the buying process with more confidence.

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¤ Xg ¤g A buyer may pay the compensation directly.

X no =Y}g Yc (gn pY p Terms of the sales contract may require the seller to pay compensation to the buyer's agent even if it was not offered initially.

¤ Xg =g}}g When listing a home, the seller may offer co-operative compensation that would pay a buyer's agent, fully or partially.

While many buyers do not pay their agent's compensation directly, it's a common misconception that buyer agent services are "free".

My highest priority is helping you find and purchase a home that meets your goals. I will focus on searching for homes that match your desired criteria, location and budget. If one of your criteria is co-operative compensation, you can direct me to show you: • All properties, regardless of whether the seller is offering to pay co-operative compensation • Properties where the seller is offering to pay a portion of the co-operative compensation • Only those properties where the seller is offering co-operative compensation that is equal to or greater than what we have agreed I will be paid

-$ @I ( 9<- == FIND 1 FINDA ATRUSTED TRUSTEDREAL REALESTATE ESTATEAGENT AGENT .

Interview a few agents to find someone experienced in your target area and price range. Make sure you understand how your agent is compensated before signing any agreements.

PREPARE YOUR FINANCES Check your credit score and calculate how much you can comfortably afford, including a down payment and monthly costs. Gather your financial documents and get pre-approved for a mortgage so you're ready to move quickly when you find the right home.

START YOUR SEARCH Make a list of must-haves vs. nice-to-haves to stay focused during your search. Tour homes in person when possible — photos don't always tell the whole story.

MAKE AN OFFER Work with your agent to research recent comparable sales and craft a competitive but informed offer. Your agent will guide you through the negotiation process and help you include the right contingencies — like inspection, financing, and appraisal — to protect yourself.

GET A HOME INSPECTION Hire a licensed home inspector to uncover any issues before you're locked in. Use the inspection report to negotiate repairs or a price reduction if needed.

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Your lender will order an appraisal to confirm the home's value matches the purchase price. If it comes in low, you may need to renegotiate with the seller or cover the difference out of pocket.

FINAL UNDERWRITING AND LOAN APPROVAL Your lender will do a final review of your finances, the appraisal, and the title before issuing a clear to close. Avoid major purchases or job changes during this period — they can delay or derail approval.

FINAL WALKTHROUGH Walk through the home one last time to confirm its condition matches what you agreed to. Check that any negotiated repairs were completed and that nothing has changed since your last visit.

CLOSING DAY

Sign the closing documents and pay any remaining costs — then the keys are yours. Keep copies of everything for your records and future tax purposes.

MOVE IN Change the locks, update your address, and confirm your homeowner's insurance is active. Set up a maintenance schedule and emergency fund to protect your new investment long-term.

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- p ¤ ? p}e ° p ¤ One of the biggest benefits of homeownership is the opportunity to build equity over time. As you make mortgage payments, you are working toward owning more of your home instead of putting money toward rent. While home values can change, real estate has historically been an important part of many people’s long-term financial picture.

?Y£ g gÃ Homeownership may also come with potential tax advantages. Depending on your situation, you may be able to deduct certain expenses, such as mortgage interest or property taxes, when you file your taxes. Because every homeowner’s finances are different, it’s always a good idea to talk with a tax professional about what benefits may apply to you.

¤p n 9}Ycg ? Y}} I -¢ Buying a home is more than finding the right number of bedrooms or the perfect backyard — it’s about finding a place that feels like yours. A place to settle in, build routines, make memories, and feel connected to the life you’re creating. Whether it’s your first home or your next chapter, buying a place to call your own is a meaningful step toward comfort, stability, and belonging.

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Owning a home can offer a stronger sense of stability and security for you and your household. It gives you more control over your living space, from how long you stay to how you make it feel like home. Instead of wondering about rent increases, lease changes, or unexpected moves, homeownership can help create a more steady foundation for the future.

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It’s one of the most common questions - and it’s a smart one to ask. The truth is the <right= time to buy a home is different for everyone and depends more on your personal situation than on real estate market conditions. Here are a few factors to consider:

I 9g Y} p Y cpY} = Ybp}p ¤ Beyond market conditions, your own financial picture matters most. If you have steady income, manageable debt, a solid credit score, and enough saved for a down payment and closing costs, you may be in a strong position to buy regardless of market timing.

I "pmg = Yng e <gYep g Beyond finances, consider whether your lifestyle supports homeownership right now. Factors like job stability, family plans, and personal goals all play a role in whether the timing feels right for you.

¢ " n I 9}Y ? = Y¤ Buying a home generally makes more financial sense the longer you plan to stay. If you're likely to move within a few years, the costs of buying and selling may outweigh the benefits of ownership.

g $ nYng <Y g Interest rates have a major impact on your monthly payment and how much home you can afford. Even a small change in rate can mean hundreds of dollars difference per month, so it's worth monitoring trends and consulting with a lender before you decide.

" cY} p n $Y |g ep p Real estate is hyper-local, so national trends don't always reflect what's happening in your area. Work with a local agent to understand whether you're in a buyer's or seller's market and what that means for pricing and competition.

9< 9 < ?- @I Before you start touring homes, it’s important to make sure you’re financially prepared. Understanding your current financial health, knowing the true costs involved in buying a home, and getting pre-approved for a mortgage can help you shop with confidence. Together, these steps give you a clearer picture of what you can afford — and help show sellers you’re a serious, ready buyer.

g p n I p Y cpY} gY} o Before you begin your home search, take a close look at your finances so you can move forward with confidence. Knowing your income, savings, debt, credit, and monthly expenses will help you understand what you can comfortably afford — not just what you may qualify to borrow.

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Your monthly budget: Look at your income and regular expenses to determine what monthly payment feels realistic. Your savings: Make sure you have funds set aside for a down payment, closing costs, moving expenses, and unexpected costs. Your credit: Review your credit score and report, since this can impact your loan options and interest rate. Your debt: Consider current payments such as credit cards, student loans, auto loans, or personal loans. Your comfort level: Think beyond the numbers and choose a price range that still allows room for your lifestyle, savings, and future plans.

Xg ? g -m ¤p n e -¢ p n g Your mortgage payment is an important part of your budget, but it is not the only cost to consider. Buying a home includes upfront expenses during the purchase process, as well as ongoing costs after you move in. Understanding both can help you choose a home that fits comfortably within your budget — not just on closing day, but long term.

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Down payment: The amount you pay upfront toward the purchase price of the home. Earnest money deposit: A good-faith deposit submitted with your offer, which is typically applied toward your purchase at closing. Home inspection: An optional but important step that helps you better understand the condition of the home. Appraisal: Often required by the lender to help confirm the home’s value. Closing costs: Fees and expenses due at closing, which may include lender fees, title fees, prepaid taxes, insurance, and other transaction costs. Moving expenses: Costs for movers, truck rental, packing supplies, storage, or utility setup.

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Mortgage payment: This may include principal and interest, and sometimes taxes and insurance if they are escrowed. Property taxes: Taxes vary by location and may change over time. Homeowners insurance: Insurance helps protect your home and is typically required by the lender. Utilities: Electric, gas, water, sewer, trash, internet, and other services should be part of your monthly budget. Maintenance and repairs: From routine upkeep to unexpected repairs, homeowners should plan for regular home care. HOA fees: Some neighborhoods or condo communities have monthly, quarterly, or annual fees. Appliances, furnishings, and improvements: After moving in, you may want or need to budget for furniture, window treatments, appliances, paint, or updates.

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Before you start seriously looking at homes, getting pre-approved for a mortgage is one of the smartest steps you can take. A pre-approval gives you a clearer idea of what a lender may be willing to loan you based on your income, credit, debts, and overall financial picture. It also helps you shop with more confidence and shows sellers you are prepared to move forward.

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It helps define your budget: You’ll have a stronger sense of what price range makes sense before you begin touring homes. It strengthens your offer: Sellers often want to know that a buyer has already spoken with a lender and is financially prepared. It helps you move faster: When you find the right home, you’ll already have a lender involved and the initial review started. It can reveal potential issues early: Your lender may identify credit concerns, documentation needs, or debt-to-income questions before you are under contract. It gives you more confidence: You can focus on homes that fit your budget instead of guessing what you may be able to afford.

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Recent pay stubs or proof of income W-2s or tax returns Bank statements Information about current debts Identification Permission for the lender to review your credit

A pre-approval is not the same as a final loan approval. Final approval will depend on additional details, including the property, appraisal, underwriting review, and any loan conditions. Still, getting pre-approved early can make the home buying process feel more focused, organized, and less overwhelming.

( ( I-@< < $ -$ Finding the right home is about more than the number of bedrooms, square footage, or a beautiful kitchen. It’s about understanding what matters most to you, knowing where you have flexibility, and making confident decisions as you move through the search process. From creating your wish list to making an offer, your agent will help you stay focused, informed, and prepared every step of the way.

= Y p n Xg =gY co The home search often starts with a vision — but it becomes clearer once you begin seeing homes in person. Before you tour, take time to think through what matters most to you. Consider how you live day to day, what spaces you use most, what would make life easier, and what you may be willing to compromise on if the right home comes along. Instead of focusing only on a long list of features, try grouping your priorities into three categories:

GoY I (gge These are the things that are truly important for your lifestyle, budget, or long-term plans. This may include location, number of bedrooms, commute, monthly payment, layout, or specific accessibility needs.

GoY I GY These are the features you would love to have, but could live without if the home is otherwise a great fit. This may include updated finishes, a larger yard, extra storage, a finished basement, or a specific style of home.

GoY I Y p g - Most buyers adjust their expectations once they begin touring homes. You may decide you are flexible on square footage, cosmetic updates, neighborhood amenities, outdoor space, or certain design preferences if the home meets your bigger goals.

As you tour homes, your list may shift — and that’s normal. Seeing homes in person often helps buyers better understand what matters most. As you search, your agent will help you compare each home against your priorities — not just the photos online. The goal is to find a home that fits your life, your budget, and your future, while helping you stay focused on what matters most.

Things To Consider: Commute & Daily Routine Consider how the location fits your everyday life, including work, school, errands, family, and activities. Long-Term Plans Think about whether the home can support your needs over the next few years, not just right now. Resale Value Even if you plan to stay long-term, consider how the home’s location, condition, layout, and amenities may appeal to future buyers. Monthly Comfort Level Look beyond the purchase price and think about the full monthly cost, including taxes, insurance, utilities, HOA fees, and maintenance. Home Condition Decide how much work you are comfortable taking on, from minor cosmetic updates to larger repairs or renovations. Lifestyle Fit Consider how the home supports the way you live, whether that means entertaining, working from home, outdoor space, storage, or lowmaintenance living.

$ ! ( ( - < When you find a home that feels like the right fit, your agent will help you decide how to structure your offer. Price matters, but it is not the only factor sellers consider. Terms, timelines, contingencies, financing, and flexibility can all play a role in how strong your offer appears.

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Purchase price: What you are offering to pay for the home. Earnest money deposit: A good-faith deposit that shows the seller you are serious. Financing details: Information about your loan type, down payment, or whether you are paying cash. Contingencies: Conditions that must be met, such as financing, appraisal, inspection, or sale of another home.

Closing timeline: Your proposed date to finalize the purchase. Possession date: When you would like to take ownership or move into the home. Requested items: Any appliances, fixtures, or personal property you would like included. Seller concessions: Any closing cost assistance or other sellerpaid items you may request.

Your agent will help you compare recent sales, review market conditions, and decide on a strategy that fits your goals. In some situations, you may have room to negotiate. In a competitive market, you may need to move quickly and make your offer as clean and compelling as possible.

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Once your offer is accepted, the next step is often the home inspection. A home inspection gives you a deeper look at the property’s condition and can help identify items that may need repair, replacement, or further evaluation.

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After the inspection, your agent will help you review the findings and decide how to move forward. Depending on the terms of your contract, you may choose to accept the home as-is, ask the seller to make repairs, request a credit or price adjustment, or negotiate other solutions. Inspection results can feel overwhelming, but not every item is a major concern. Many homes have routine maintenance needs or minor repairs. Your agent can help you understand which items may be worth negotiating and which may simply be part of owning a home.

Roof, gutters, and exterior Foundation and structure Electrical system Plumbing system Heating and cooling systems Windows, doors, and insulation Attic, basement, or crawl space Appliances and major systems Safety concerns or maintenance issues

The goal of inspections and negotiations is to help you make an informed decision before closing. With the right guidance, you can move forward with greater confidence and a clearer understanding of the home you are buying.

? 99< = " Once you are under contract, your lender may order an appraisal to confirm the home’s value. The appraisal is completed by a licensed appraiser who evaluates the property, reviews recent comparable sales, and provides an opinion of value for the lender. The appraisal helps the lender make sure the home supports the amount being financed. It is not the same as a home inspection. An inspection focuses on the condition of the home, while an appraisal focuses on value.

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The home’s size, layout, age, and condition Recent comparable sales in the area Location and neighborhood factors Updates, improvements, and overall features Market trends and buyer demand

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If the home appraises at or above the purchase price, the loan process can usually continue forward. If the appraisal comes in lower than the purchase price, your agent and lender will help you understand your options. Depending on your contract, those options may include renegotiating the price, bringing additional funds to closing, challenging the appraisal, or adjusting the terms of the purchase. The appraisal is an important step because it helps protect both you and the lender from overpaying based on the home’s current market value.

According to Fannie Mae, the vast majority of appraisals con昀椀rm the contract price — so for most buyers, the appraisal is simply a routine step that con昀椀rms you're making a sound investment.

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As you get closer to closing, your loan will move through final underwriting. During this step, the lender takes a closer look at your financial information, the property details, the appraisal, title work, insurance, and any remaining loan conditions. The goal is to confirm that everything is in place before the loan receives final approval. This part of the process can feel quiet at times, but important work is happening behind the scenes. Your lender may ask for updated documents, explanations, or additional information before issuing final approval.

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Updated pay stubs or bank statements Proof of homeowners insurance Explanations for large deposits or recent financial activity Documentation related to employment, income, or debts Final signatures or lender-required forms

During underwriting, it is important to avoid major financial changes unless you have spoken with your lender first. Large purchases, new credit cards, job changes, or moving money between accounts can affect your loan approval. Once underwriting is complete and all conditions are satisfied, the lender can issue final loan approval. From there, you will be one step closer to closing day and officially becoming a homeowner.

? ( " G "!? <-@ Before closing, you will usually have the opportunity to do a final walkthrough of the home. This is your chance to make sure the property is in the expected condition before you officially take ownership. The final walkthrough is not a full home inspection. Instead, it is a last review to confirm that any agreed-upon repairs were completed, the home has been maintained, and the items included in the contract are still in place.

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Agreed-upon repairs have been completed Appliances, fixtures, and included items are still in the home Heating, cooling, plumbing, and electrical systems appear to be working Windows, doors, lights, and outlets function properly The home is in the same general condition as when you made your offer The seller’s personal belongings have been removed, unless otherwise agreed No new damage has occurred before closing

If something does not look right, let your agent know right away. Your agent can help you determine the next steps and work with the other side to address any concerns before closing. The final walkthrough is one of the last steps in the buying process. It gives you peace of mind before signing the final documents and receiving the keys to your new home.

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Closing day is the final step before the home officially becomes yours. During closing, you will review and sign the required documents, confirm final details, and complete the financial portion of the purchase. Once everything is signed, funds are processed, and the transaction is officially recorded, you will receive the keys to your new home.

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Bring a valid photo ID Review and sign your final loan and closing documents Confirm your closing costs and any funds needed Ask questions before signing anything you do not understand Wait for the transaction to be finalized and recorded Receive your keys once closing is complete

After closing, it’s time to settle in. Set up utilities, update your address, organize important documents, and take time to get familiar with your new home. Moving in may come with a long to-do list, but it also marks the beginning of an exciting new chapter — turning the house you purchased into a place that truly feels like home.

At Rector Hayden REALTORS®, we believe buying or selling a home should feel connected, supported, and as seamless as possible. That’s why we offer OnePoint: The Complete Real Estate Experience — an array of services designed to support customers throughout their real estate journey. From home buying and home selling resources to trusted service connections, OnePoint helps streamline the process, reduce stress, and create a more convenient experience from start to finish.

Semonin REALTORS® is built on a strong foundation of trusted service, local experience, and a commitment to guiding customers with confidence. Through OnePoint: The Complete Real Estate Experience, we connect buyers with the resources, support, and service connections they may need throughout the home buying journey. Our goal is to make the process feel more efficient, more informed, and less stressful from start to finish.

Prosperity Home Mortgage, LLC, is a full service mortgage banker specializing in residential and refinance loans. Prosperity offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA), Veterans Affairs (VA) loans, and renovation financing.

HomeServices Insurance offers new home buyers and current homeowners access to a wide range of insurance options, including home, auto, life, and more. Their team can help customers explore coverage that fits their needs and provides added peace of mind throughout the homeownership journey.

? -( " " ? = <F = g GY Y ¤ =g ¡pcg A home warranty can be a valuable option for both buyers and sellers, offering added peace of mind throughout the real estate process. Sellers working with a Semonin agent may choose to add a home warranty to their listing, which can help make the home more appealing to buyers. Buyers working with a Semonin agent may also have the option to purchase a home warranty for added protection after closing. Whether buying or selling, a home warranty can provide an extra layer of confidence and security.

<g} cY p =g ¡pcg Whether you are moving into our area or relocating somewhere new, Semonin’s relocation services can help make the transition easier. As a member of Leading Real Estate Companies of the World®, Semonin is connected to a trusted global network of real estate professionals. Our relocation team can help connect you with specially trained agents who understand the unique details involved in moving across town, across the country, or around the world.

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Rector Hayden REALTORS® Home Buyer’s Guide