Your Guide to

Home Ownership

Morgan Tinsley presents to Shawn Breyer & Melissa McKinney

Morgan Tinsley, Realtor | 931-240-4459 | morgan@letsgoreco.com | morgan.amberflynnjared.com

Meet

Morgan Tinsley

Your Local Realtor®

(931) 240-4459

morgan@letsgoreco.com

I was born and raised in Cookeville, TN and now I'm lucky enough to be raising my own family here in the Upper Cumberland! I work as a local Realtor® full time and am passionate about helping my clients achieve their dream of home ownership. My guarantee includes: quality of service, open lines of communication, confidentiality, trust, and support every step of the way.

The Real Estate Collective (RECO) is the Upper Cumberland's leading real estate agency, and I'm grateful to be part of it. Our core values as a real estate brokerage are: Generosity, Relationships, Attitude, Culture and Excellence. At RECO, we know that the reason we exist is to be a force for good in our community, to make a lasting impact on everyone that crosses our path, and to live generously with all we have. It just so happens that real estate is the vehicle that we use to get there.

Where To Find Us

Cookeville, TN

20 W Broad St

Cookeville, TN 38501

Sparta, TN

23 N Spring St

Sparta, TN 38583

Online

www.letsgoreco.com

Important Steps in the Home Buying Process

1

Consultation

We’ll talk about your wants, needs and goals for purchasing a home. I will also offer my personal industry expertise and strategies for bringing your dream of home ownership to life!

2

Pre-Approval

Determine what you can afford and work with a lender to get pre-approved for a mortgage. Be prepared with a down payment; this varies depending on the type of loan. There are also 100% financing options available. Being pre-approved will indicate to sellers that you're serious about home buying and allows you make offers on homes with confidence.

3

Property Tours

We'll work together to compile a list of homes that fit both your budget and lifestyle needs. I'll schedule showings so that we can walk through all of the properties together. We must have a written agreement in place in order to tour homes, whether it is a Touring Agreement or Buyer's Representation Agreement.

4

Write Offer

Once we find the home of your dreams, we'll submit an official offer, including but not limited to sales price, inspection & appraisal contingencies, and closing costs. The seller then has time to accept, reject, or counter your offer. Be prepared to negotiate!

5

Under Contract

Once we come to terms agreeable between both buyer and seller, the offer will be bound and we'll officially be under contract!

6

Inspections

A home inspection is the immediate next step after an offer is accepted by the seller. Although it is not required by law in all states, you will gain valuable insight into the condition of the property. If the sale is dependent on the results of the home inspection, you have a limited window of time to complete it. Depending on the results of the inspection, you may have the opportunity to request certain faults or problems be repaired.

7

Appraisal

An appraisal is required by the lender to ensure the value of the property meets the value of the loan. Although this is in their best interest, it also confirms you won't be overpaying for your new home! Typically, the lender contracts the appraiser and incorporates the fee into the closing costs.

8

Final Steps

Before your purchase can be considered legal, you must contract a real estate lawyer to complete a Title Search. An additional stipulation of the mortgage agreement is proof of homeowner's insurance. Towards the end of the sale, you will be presented with your HUD-1 document which will outline the total closing costs required to finalize the sale. Then, we'll schedule your final walkthrough and prepare for the official closing date!

Market data as of:

The Market Action Index (MAI) is a literal temperature gauge that shows whether the market favors buyers or sellers.
An MAI of 30 is typically balanced; over 30 is a seller's market, under 30 is a buyer's market.

Buyer markets

Buyers get better deals and more choices when MAI is low.

Seller markets

Sellers can list for higher prices and quicker sales when MAI is high.

Market data as of:

View current market trends

Scan the QR code to see the current Market Trends report

Unique Value I Provide My Clients

★

My Professional Network:

Chasity Howard, Impact Mortgage | 931-265-5763, chasity@impactmortgagellc.com
Danielle Imbaratto, Cedar City Title | 615-630-4501, danielle@cedarcitytitle.com
Jared Dunn, Country Financial | 931-528-7414, jared.dunn@countryfinancial.com
Superior Inspection Group | 931-854-0067, superiorinspectiongroup@gmail.com
All Star Pest Control | 931-529-1585

★

"Always deliver more than expected." - Larry Page

Active listings in the Cookeville, TN area!

My sales activity in your desired search area will directly benefit you due to my market knowledge, negotiating prowess, and insights into local activity!

★

People > Profit is the driving force behind everything that we do at RECO! Who we are governs what we do.

Client Testimonials

“Morgan is such a pleasure to work with. Her attention to detail, work ethic, punctuality, and organization is so helpful when working with her. She also has such a caring heart and will genuinely will be looking out for your best interest in every way. If you are working with her, know you are in great hands!”

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“Morgan is an amazingly gifted woman who exudes everything you would want in a realtor. She is detail oriented, extremely creative, and truly listens. She is one of the most dependable people I know. I could continue to list positive attributes of hers, but instead, I will simply say you just need to give her a call and find out for yourself!”

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“Morgan is incredibly kind, patient and extremely detail oriented. She takes time to listen to all aspects of your needs and then carefully crafts a solution to meet every single one of them. She goes above and beyond in all areas and is always a pleasure to work with!”

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“We came to Morgan with the idea of we want to buy but unsure of the process. In over a couple weeks she walked me & my husband into the house we loved. She helped us from the very beginning til still texting me after closing. I have never felt more secure in a process before having Morgan! We love her & are so thankful for her & finding us our first home!”

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There's no place quite like the Upper Cumberland!

www.tnvacation.com/middle-tennessee/upper-cumberland

www.visitcookevilletn.com

As of August 17th, 2024:

All Realtors are required to have a signed buyer agreement in place prior to showing a home, either a Buyer’s Representation Agreement that establishes agency between the Realtor and buyer, or a Touring Agreement that simply keeps one in compliance until that agency relationship is established.

Ask Questions:

The most important thing for you to know as the consumer is that it’s important for you to have a real estate agent that you are confident in and comfortable with when it comes to asking questions. You need to ask questions like “What does this agreement require of me? How will you be compensated? What happens if we need to terminate this agreement?” These are all great questions!

A New Normal!

This is definitely a new way of doing business for most Realtors and a new experience for most buyers. This is a requirement for every Realtor across the country - not in the Upper Cumberland, or Tennessee, but the entire USA.

Signing a Buyer's Representation Agreement

This is an agreement to engage with a professional real estate agent to consult, show homes, negotiate contracts, and advocate.
It will establish the length of the agreement
It shows the agent/broker's services and responsibilities
It explains the agreement's exclusivity between Broker and client, what fees are owed for services rendered, and how to terminate the agreement. It mentions additional fees if the buyer signs with more than one agent.
It provides a clear explanation of the various ways an agent can be compensated for their services to the Buyer.

105 More Ways

Agents Who Are Realtors ® Are Worth Every Penny Of Their Compensation.

Here’s a look at all the things – big and small – that a REALTOR ® may do to help clients when buying a home.

Counseling Session Activities

Prepare the buyer for executing a buyer representation agreement
Explain agency relationships to the buyer and get state required legal consentto represent, if needed
Inform the buyer of working relationship based on state law, the REALTORS®Code of Ethics, and the broker’s business policies

Building a Relationship

Learn the buyer’s wants and non-negotiable needs
Understand the buyer’s budget and what will be needed financially
Help the buyer understand what property their chosen budget will buy
Consider having the buyer fill out a homebuyer’s checklist
Assist the buyer in examining how much they can afford to spend
Provide quality lender resources
Partner with the buyer to locate suitable properties for consideration
Match the buyer’s needs with available property
Constantly re-evaluate buyer’s needs and refocus property showings to fit those needs
After ensuring the buyer understands what is done for them, how it is done,and the benefit to them, obtain signatures on the buyer representation agreement
Explain how compensation is paid, who pays it, and what the buyer’s optionsare for paying it

Educating the Buyer

Communicate the working relationship based on state law, the REALTORS®Code of Ethics, and the broker’s business policies
Explain Federal and State Fair Housing laws
Explain what to look for in applicable property disclosures
Reassure the buyer that their personal information will remain confidential
Inform the buyer that you will always disclose all known material defects
In accordance with state law, provide information on checking the sex-offenderregistry and crime statistics for the neighborhood
Discuss available resources that the buyer can check to learn more aboutprospective neighborhoods

REALTORS® are members of the National Association of REALTORS®

Preparing the Buyer

Explain the timeline for house hunting, mortgage approval, and closing
Explain the local market and how it impacts the buyer
Show statistics on what percentage of list price sellers in the area are currentlyreceiving
Inform the buyer on what home features are popular
Identify current average days on market
Share the dangers of using the price per square foot to figure home values
Explain the concept of absorption rate and how it impacts the buying process
Indicate current listing months of market inventory
Share estimated potential out-of-pocket costs to complete the transaction
Assist the buyer in analyzing the loan estimates
Qualify the buyer for financial ability to purchase
Help the buyer account for the complete costs of homeownership
Prepare lender for listing agent calls
Assist in comparing different financing options
Help the buyer select for viewing only those homes that fit their needs
Proceed in showing homes that fit the buyer’s must-haves
Caution the buyer on posting information to social media
Review the sample sales contract so the buyer is prepared when it comes time to make an offer

Showing Properties

Schedule showings and provide access to all listed properties as soon as theybecome available in their local MLS broker marketplaces
Educate the buyer on the immediacy of new listings appearing in their localMLS broker marketplaces and the lag time for them to appear on somewebsites
Collaborate with the buyer on properties they may have learned about throughtheir sphere contacts
Research and assist on all unlisted properties the buyer wishes to see
Preview properties prior to showing if needed
Network with other agents to source properties not yet in their local MLSbroker marketplaces
Contact homeowners in focus areas to see if they are considering selling
Set up an automated email alert system through their local MLS brokermarketplaces that immediately notifies the buyer of properties that fit discussed requirements
Arrange a tour of areas, schools, and key points of interest
Provide resources containing neighborhood information on municipal services,schools, etc.
Inform the buyer of negative aspects like nearby venues or operations that may result in issues that could impact value
Check applicable zoning and building restrictions
Help the buyer decipher public property and tax information
Collect and share pertinent data on values, taxes, utility costs, etc.
Compare each property shown to the buyer’s wants and needs list and remindthem of what they were looking for
Help the buyer narrow the search until the buyer identifies top choices

Negotiating Offers

Assist the buyer in getting the best property at the best price
Suggest that the buyer learn more about the neighborhood prior to makingan offer
Prepare a comparative market analysis (CMA) in advance of making an offer
Prepare the buyer to have the most attractive offer in the current marketplace
Explain common contract contingencies and include approved protective clauses in the purchase offer
Ensure that the buyer receives and understands all state and federally-required disclosure forms
Prioritize contract negotiation goals with the buyer
Help create a negotiating strategy
Use strategies such as an escalation clause to maintain a competitive offer
Prepare the buyer for a multiple offer situation and develop negotiation strategies
Write an offer that has a reasonable chance of being accepted
Recommend optional contingencies and explain the pros and cons of using them
Provide information on purchasing incentives that may be available
Discuss financing alternatives
Negotiate the buyer’s offers to arrive at the best price and terms
Utilize hyperlocal expertise and strong communication skills to assist thebuyer in being the successful offer

Advocating for the Buyer and Facilitating the Close (Part 1/2)

Advocate for the buyer throughout the entire process
Encourage the buyer to fully investigate their options in terms of a home inspector, title company, appraiser, mortgage lender, and other services
Present a list of the types of required and optional inspections such as environmental, roofing, and mold
Review and discuss home inspection concerns
Negotiate repair requests from home inspection
Guide the buyer on meeting all contract deadlines
Assist in coordinating communications
Advise the buyer to review the settlement statement
Inform clients that they need to transfer utilities to the new residence
Schedule final walkthrough
Accompany the buyer on the walkthrough
Assist the buyer in questioning the appraisal report if it affects the financing
Confirm clear-to-close with the lender
Ensure all parties have all forms and information needed to close the sale
Remind the buyer of the location where the closing will be held
Confirm the closing date and time, and notify parties if there are changes
Gather all required forms and documents for closing
Explain flood insurance to the buyer
Explain title insurance to the buyer and refer to qualified insurance broker
Order any surveys needed

Advocating for the Buyer and Facilitating the Close (Part 2/2)

Order the appraisal
Order the title search
Confirm the status of the loan funding
Check addendums and alterations for agreed terms
Review the buyer’s closing statement to ensure accuracy
Explain wire fraud risks and remind clients to verify all wiring instructionsbefore transferring funds
Double-check all tax, homeowners’ association dues, utility, and applicable prorations, if relevant
Request final closing figures from the closing agent (often an attorney ortitle company)
Receive and carefully review closing figures to ensure accuracy
Receive and carefully review title insurance commitment with the buyer
Advise the buyer to re-key their locks and to consider a one-time cleaningservice or landscaping before moving day
Review documents with the closing agent (attorney)
Support the buyer in any final closing activities

Actual services provided will depend on the needs of the buyer and the transaction –not all 105 things will need to be done in every transaction.

Featured content from the Center for REALTOR® Development’s Accredited Buyer’s Representative (ABR®) Designation Course. Visit crd.realtor to learn more.