Date:

July 14, 2009

YOUR GUIDE TO BUYING A HOME To:

From: Re: THE SERENA GROUP Your Guide to Buying a Home

In our experience, a home isn't a dream home because of its room dimensions. It's about how you feel when you walk through the front door, and the way you can instantly envision your life unfolding there. This is about more than Real Estate... It's about your life and your dreams! We understand that you are looking for a new home, and we want to be the Real Estate Team to help you. We work with each of our clients individually, taking the time to understand their unique needs and lifestyle. We want to do the same for you. We love matching our clients with the home that they have always dreamed of and imagined. It's incredibly fulfilling to know that we are helping them open a brand new chapter of their lives. That's why we work so hard to not only find that perfect home, but also to handle every last detail of the purchase process, from negotiating the terms of sale to recommending moving companies. This package contains helpful information for home buyers, including an overview of the entire purchase process, answers to frequently asked questions, and fact sheets to help us discover the home and neighborhood characteristics that are most important to you. After you've had the chance to review this information, please contact us. We'd like to prepare an in-depth, customized package of homes for you to review, highlighting properties that meet your criteria in neighborhoods that suit your lifestyle. We appreciate the opportunity to earn your business!

Sunny regards,

The Serena Group ~ Keller Williams Realty of Manatee

Rivers Team Buyer Loyalty Agreement AGREEMENT SERENA GROUP LOYALTY

The Serena Group's Selling Agent's Commitment to You: Rivers Team Buyers Specialist Commitment to You:

We will always respect your time and myself or a team member will always accommodate your schedule. We will respond to your phone calls and e-mails as quickly as possible. I will always be honest with you, even when I have information that you may not want to hear. I will keep your information confidential. I will search the MLS continually and inform you of any and all new homes that meet your wants and needs. I will provide you with a Market Analysis of all the homes that interest you. I will discuss the benefits and drawbacks of each home in relation to your needs. I will help you compare homes and make the best decision. I will educate you on the contract and all of its terms. I will negotiate the price and terms in your best interest. I will supervise your home inspection and negotiate your repairs for you. My Closing Coordinator and I will coordinate and supervise the preparation of all closing documents and guide you throughout the closing process. I will refer you to proven professionals throughout the entire process.

In Return, we ask that you make the following commitment toto Our Team: In return, We Ask That You Make the Following Commitment our team:

Be honest in all things. Communicate with us. Let us know if your wants, needs, or financial situation changes. Call me first if you want to see anything in the MLS, a New Construction Property, a Home that is For Sale by Owner, an Open House, or a home that you see online. Be as loyal to me as I am to you. Let me know if I can help your family, friends, or co-workers with their real estate needs.

________________________________________________
Serena Team Agent Rivers Team Agent

__________________
Date

________________________________________________
Buyer

__________________
Date

________________________________________________
Buyer

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Date

buyer's
PRESENTED BY

guide

"The Family That Welcomes You Home!"

Prepared for:

Compliments of:

info@TheSerenaGroup.com http://www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

buying a home
It's all about you The home buying process Your lifestyle interview

searching for a home

What's ahead Print outs of selected homes currently for sale Selected homes that have recently sold

Your home wish list Notes about selected homes The neighborhood of your dreams The mortgage and loan process Your home search Making an offer Closing 101 Moving checklist Above and beyond Why Keller Williams Realty Frequently asked questions

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's
it's all about you!

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

Our Real Estate business has been built around one guiding principle: It's all about you!

Your needs Your dreams Your concerns Your questions Your finances Your time Your life

Our focus is on your complete satisfaction. In fact, we work to get the job done so well, you will want to tell your friends and associates about it. Maybe that's why a great percentage of our business comes from repeat customers and referrals. Great service speaks for itself! The Serena Group looks forward to the opportunity to earn your business too.

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

the home buying process

There are a lot of details to be handled when purchasing a home. This overview is designed to summarize the various steps along the path of qualifying, finding and buying a home. It is our job to streamline the steps for you, ensuring everything is completed according to plan. In addition to this summary, We have included additional information and worksheets to make sure we find the right home, negotiate the best price and terms, and take care of all the details: 1. Consultation to analyze your specific needs and wishes your lifestyle interview, your home wish list, the neighborhood of your dreams 2. Financial pre -qualification or pre -approval the mortgage and loan process 3. Select and view properties the home tour, frequently asked questions 4. Write an offer to purchase making an offer 5. Negotiate the purchase offer making an offer 6. Final mortgage application the mortgage and loan process 7. Underwriting the mortgage and loan process 8. Loan approval the mortgage and loan process 9. Title company the mortgage and loan process, closing 101 10. Closing closing 101 11. Moving moving checklist, above and beyond

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

your lifestyle interview

A home is about more than the number of bedrooms or bathrooms. It's about how you feel when you're in it. To really pinpoint the type of home you're looking for, consider the following questions: 1. What makes you comfortable in your current home? Is there anything in particular you'd like to duplicate?

________________________________________________________ ________________________________________________________
2. What is your primary reason for searching for a new home?

________________________________________________________ ________________________________________________________
3. Do you have children? What are their ages, interests and activities?

________________________________________________________ ________________________________________________________
4. Do you entertain a lot? What areas of your home will you primarily use to entertain?

________________________________________________________ ________________________________________________________
5. How long do you expect to live in the home?

________________________________________________________ ________________________________________________________
6. Do you have any pets that stay in the house or outside?

________________________________________________________ ________________________________________________________
7. Would you consider yourself to be more casual or formal?

________________________________________________________ ________________________________________________________
8. When you imagine your dream home, what do you see? What images come to mind?

________________________________________________________ ________________________________________________________

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

your home wish list

Creating a list of the desired features and amenities for your new home will help us target the properties that meet your criteria. Please consider the following and record any notes or preferences:

1. House style_________________________________ 2. Number of bedrooms________________________ 3. Number of bathrooms________________________ 4. Living room________________________________ 5. Dining room_______________________________ 6. Family room_______________________________ 7. Fireplace__________________________________ 8. Home office_________________________________ Other requirements or comments:

9. Kitchen__________________________________ 10. Outdoor area ____________________________ 11. Garage _________________________________ 12. Lot size_________________________________ 13. Pool____________________________________ 14. Age of property__________________________ 15. View____________________________________ 16. Fencing_________________________________

___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________ ___________________________________________________________________________________________

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

the neighborhood of your dreams

More than just the home, it's important to think about the type of neighborhood that is right for you. Please consider the following and record any notes or preferences:
1. Areas you would enjoy____________________________________________________________________ 2. Specific neighborhoods you like___________________________________________________________ 3. School district(s) you prefer_______________________________________________________________ 4. Your work location(s)____________________________________________________________________ 5. Your favorite shops/conveniences__________________________________________________________ 6. Recreational amenities you enjoy___________________________________________________________

Any additional items to consider when selecting our target neighborhoods:______________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

the mortgage and loan process

Funding your home purchase
1. Financial pre -qualification or pre -approval Application & interview Buyer provides pertinent documentation, including verification of employment Credit report is requested Appraisal scheduled for current home owned, if any 2. Underwriting Loan package is submitted to underwriter for approval 3. Loan Approval Parties are notified of approval Loan documents are completed and sent to title 4. Title Company Title exam, insurance and title survey conducted Borrowers come in for final signatures 5. Funding Lender reviews the loan package Funds are transferred by wire Why pre -qualify? We recommend that our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.

It's all here...

The Serena Group strives to offer the CORE services that will meet your needs throughout the home buying process. Some of our clients have been very satisfied with the services of our preferred partners, which meet our rigorous standards in the following areas: Integrity Experience Operations Customer service Communication

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

your home search

We love helping buyers find their dream home. That's why we work with each client individually, taking the time to understand their unique lifestyles,needs and wishes. This is about more than a certain number of bedrooms or a particular zip code. This is about your life.... And it's important to us! When you work with The Serena Group, you get: A knowledgeable and professional Team of REALTORS Committed allies to negotiate on your behalf The backing of a trusted company, Keller Williams Realty

We have the systems in place to streamline the home buying process for you. As part of our service, we will commit to helping you with your home search by:

Personally touring homes and neighborhoods with you Keeping you informed of new homes coming on the market daily Helping you preview homes on the Internet Advising you of other homes that have sold and for how much Working with you until we find the home of your dreams

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

making an offer

Once you have found the property you want, we will write a purchase agreement. While much of the agreement is standard, there are a few areas that we can negotiate: The Price What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a very low offer, just to see if the seller will accept, this often isn't a smart choice, because the seller may be insulted and decide not to negotiate at all. The Move -in Date If you can be flexible on the possession date, the seller will be more apt to choose your offer over others. Additional Property Often the seller plans on leaving major appliances in the home, however, which items stay or go is often a matter of negotiation. Typically you will not be present at the offer presentation; we will present it to the listing agent and/or seller. The seller will then do one of the following: Accept the offer Reject the offer Counter the offer with changes

By far the most common is the counter offer. In these cases, our experience and negotiating skills become powerful in representing your best interests. When a counter offer is presented, we will work together to review each specific area of the counter offer, making sure that we move forward with your goals in mind and ensuring that we negotiate the best possible price and terms on your behalf.

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

closing 101

Prepare for it
Closing day marks the end of your home buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following:

A certified check for closing costs and down payment. Make the check payable to yourself; you will then endorse it to the title company at closing An insurance binder and paid receipt Photo IDs Social security numbers Keys, garage door openers, and any information about the home that may be helpful to the buyers

Own it
Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are: Delivery of the buyers funds This is the check or wire funds provided by your lender in the amount of the loan Delivery of the deed A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses. At the end of closing, the deed will be taken and recorded at the county clerk's office. It will be sent to you after processing.

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's
moving checklist

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

New Telephone Number: ____________________________________________ New Address: _____________________________________________________ Before you move, you should contact the following companies and service providers: Utilities: ______Electric ______Telephone ______Water ______Cable ______Gas Professional Services: ______Broker ______Accountant ______Doctor ______Dentist ______Lawyer Government: ______Internal Revenue Service ______Post Office ______Schools ______State Licensing ______Library ______Veterans Administration Clubs: ______Health & Fitness ______Country Club Insurance Companies: ______Accidental ______Auto ______Health ______Home ______Life ______Renters Business Accounts: ______Banks ______Cellular Phone ______Department Stores ______Finance Companies/Credit Cards Subscriptions: ______Magazines ______Newspapers Miscellaneous: ______Business Associates ______House of Worship ______Drug Store ______Dry Cleaner ______Hair Stylist

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's
above and beyond

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

Providing exceptional service involves more than just making your Real Estate dreams come true! It requires taking the next logical step helping you through the details after you officially own your home. Please visit our website at: www.TheSerenaGroup.com and view our

Many of our clients have been very happy & satisfied with these service professionals!

And for do-it-yourselfers...

Visit the nearby Home Depot or Lowe's for everything you need:

Home Depot 2350 Cortez Road West Bradenton, FL 34207 (941) 753-7777 Home Depot 5475 University Parkway Bradenton, FL 34201 (941) 358-3360 Lowe's 4012 14th St W Bradenton, FL 34205 (941) 526-1071 Lowe's 7395 52nd Pl E Bradenton, FL 34203 (941) 756-1822

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

why Keller Williams Realty

There is a reason more and more agents are making the change to Keller Williams Realty. Here's why it matters to you:

Knowledge Powerful curriculum through Keller Williams University keeps us ahead of trends, tools and advancements in the real estate industry. Speed Leading-edge technology solutions accelerate our efficiency and productivity. Teamwork Unlike other real estate companies, Keller Williams Realty was designed to reward agents for working together, to serve clients better. Reliability Keller Williams Realty was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting the customer's needs first. Success Keller Williams Realty is the fastest growing real estate company in North America.
Keller Williams Realty is the 2nd Largest Real Estate Company in the U.S

When you offer a superior level of service, the word spreads fast. As part of the Keller Williams Realty team, we look forward to providing you with a phenomenal real estate experience!

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

frequently asked questions

How will you tell me about the newest homes available? The Multiple Listing Service website provides up-to-date information for every home on the market. We constantly check the New on Market list so we can be on the lookout for our clients. We will get you this information right away in the way that is most convenient for you, by phone and/or e-mail. Will you inform me of homes from all Real Estate companies or only Keller Williams Realty? We will keep you informed of all homes. We want to help you find your dream home, which means that we need to stay on top of every home that's available in the market. Can you help me find new construction homes? Yes, we can work with builders and get you the information you need to make a decision. On your first visit with the builder, we will accompany you. By using our services with a new construction home purchase, you will receive the services we offer, as well as those provided by the builder, at no additional cost. How does for sale by owner (FSBO) work? Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the commission. If you see a FSBO and want the advantages of our services, let us contact the owner for you and make an appointment. Most times the homeowner will work with an agent, even though their home is not listed, since the agent is introducing a potential buyer to their property. Can we go back through our property again once an offer is made, but before possession? Usually we can notify the seller and schedule a convenient time to visit the property again. Immediately before the closing, we will schedule a final walk-through and inspection of your new home. Once my offer is accepted, what should I do? Celebrate and focus on moving into your new home! You will want to schedule your move, pack items, and notify businesses of your address change. The Serena Group will help you remember all the details. We will also request a good faith estimate from your mortgage lender and HUD statement from the closing agent which will indicate the amount you will need to bring to closing.

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's
what's ahead

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

Let's look for a new home!

We have included print outs from the Multiple Listing Service for homes that we have selected for your review. The information we discussed about your wants, needs and desires were all taken into account when we chose these homes. In some cases, our clients find their dream home on the first day. In other cases, it takes more time to find the right home. Rest assured, there is a home out there just right for you. We just have to find it. To assist you in the home search journey, we have organized a list of homes showing us the following information for each: Photos of the home The home address The current asking price The square footage and property taxes The number of bedrooms and baths The age and lot size Unique features and comments

Once we narrow down the list of properties that are of interest, we will: Provide you with more detailed information about the home Review the county tax records for tax liens, etc. Schedule a personal visit to the home Tour the home with you Determine how the asking price compares with other homes in the area Answer any and all questions you may have

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

buyer's

guide
presented by: "THE FAMILY THAT WELCOMES YOU HOME!"

home search notes

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com

SELLER $eller
~ Agent Provides Comparables fgsnt PrsrerE c Market Analysis GornpirEtf $Ftst IilrEt lnalytir ~ Agent, Seller Agree on Price , PilcrhEcffl#lrd ~ Listing Paperwork is completed

BUYER Euyer
~ Buyer contacts Agent ' Initil CorHct ~ Buyer make a commitment to work with Agent to tgnnt - CorrrttmEnt ~ Buyer gets Pre-Qualified by a ' Flnrndil Outlllcrtlonr Mortgage Lender (unless it will be a cash transaction)
~ Agent does consultation to provide market education ~ Property Viewings ~ Agent prepares offer, acquires disclosures, and secures community association documents for selected property

' Llrrlng figrurnrnt nlth r4grn

~ Home is put into Multiple Listing , Hrlilph LEdng Service , Op;n Houfrt{gnrrfl ~ Home gets Showings Httf{cfirtftrl} ~ Agent Does AgreedAppsinhnent . Sho'nfngrbf Upon Open Houses . Adfurutioing ~ Agent does Agreed Upon Marketing & Advertising

Offer is presented to Seller

CONTRACT TERMS ARE NEGOTIATED f$gfililmotTrmr Seller Sdlff Agent Agrnt

i--

TIME SENSITIVE ITEMS

Agent _..r.FAffnt -l ....-..,.,""""r'r"F""F Buyer Builsr

= BUYER - TIME SENSITIVE EVENTS

Purchase Contract is Accepted! AccrptodSelst Gontrrsl

Ernest Money is Deposited into ' EscrowE"rcrcw to be held Oprn Account until Closing - OrporHEernrdHonry

Pro,uldr Fmprrly Provides Access for Appraisal D|rslsrurs$

Order / Schedule necessary property inspections

LOAN PROCESS BEGINS

Assists / Provides Access for Property Inspections

tlircloEUrs ~ DISCLOSURES
~ INSPECTIONS
~ TITLE SEARCH PrrllmlnrryTlth tuport ~PRELIMINARY TITLE REPORT

15r IlaIs

hrpestionr f, CONTINGENCIES Gondifiorrr TO CONTRACT

Rerngrfl ARE REMOVED

ADDITIONAL NEGOTIATIONS IF NECESSARY Seller Agent

Sellsr ... ..408il | T --..-....--""F""r""'" Buyer Agent BrrUFr

tddlllonrl ]|rgodrdonr _ lf Drsw$ry Agent -_.-_

InrporHonr CONTINGENCIESI Gsildftionr TO CONTRACT ARE REMOVED ReflFTnh & additional h|'ErEH$ deposits made Dspogt

Mortgage Loan conditions are satisfied/ removed

CLOSING PROCEEDURES ARE INITIATED

Seller receives ReEBlre proceedsGruhthe sale & from Pro+csdt, Rsnt Bffi* vacates property / provides orilwg keys, etc. to new owner ~ Mortgage Loan Funds Lorn Funding ~ Title / Deed Recorded TitloRseordrrt City HHll ~ Utilities accounts are transferred Utilitigr ofton from seller to buyer
Receives keys, etc. Takes posession of property Moves in!

THE REAL ESTATE TRANSACTION PROCESS

OMB Approval No. 2502-0265

A.

Settlement Statement (HUD-1)

B. Type of Loan 1. 4. C. Note: FHA VA 2. 5. RHS Conv. Ins. 3. Conv. Unins. 6. File Number: 7. Loan Number: 8. Mortgage Insurance Case Number:

This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked (p.o.c.) were paid outside the closing; they are shown here for informational purposes and are not included in the totals. E. Name & Address of Seller: F. Name & Address of Lender:

D. Name & Address of Borrower:

G. Property Location:

H. Settlement Agent:

I. Settlement Date:

Place of Settlement:

J. Summary of Borrowers Transaction

K. Summary of Sellers Transaction

100. Gross Amount Due from Borrower 101. Contract sales price 102. Personal property 103. Settlement charges to borrower (line 1400) 104. 105. Adjustment for items paid by seller in advance 106. City/town taxes 107. County taxes 108. Assessments 109. 110. 111. 112. 120. Gross Amount Due from Borrower 200. Amount Paid by or in Behalf of Borrower 201. Deposit or earnest money 202. Principal amount of new loan(s) 203. Existing loan(s) taken subject to 204. 205. 206. 207. 208. 209. Adjustments for items unpaid by seller 210. City/town taxes 211. County taxes 212. Assessments 213. 214. 215. 216. 217. 218. 219. 220. Total Paid by/for Borrower 300. Cash at Settlement from/to Borrower 301. Gross amount due from borrower (line 120) 302. Less amounts paid by/for borrower (line 220) 303. Cash From To Borrower ( ) to to to to to to

400. Gross Amount Due to Seller 401. Contract sales price 402. Personal property 403. 404. 405. Adjustment for items paid by seller in advance 406. City/town taxes 407. County taxes 408. Assessments 409. 410. 411. 412. 420. Gross Amount Due to Seller 500. Reductions In Amount Due to seller 501. Excess deposit (see instructions) 502. Settlement charges to seller (line 1400) 503. Existing loan(s) taken subject to 504. Payoff of first mortgage loan 505. Payoff of second mortgage loan 506. 507. 508. 509. Adjustments for items unpaid by seller 510. City/town taxes 511. County taxes 512. Assessments 513. 514. 515. 516. 517. 518. 519. 520. Total Reduction Amount Due Seller 600. Cash at Settlement to/from Seller 601. Gross amount due to seller (line 420) 602. Less reductions in amounts due seller (line 520) 603. Cash To From Seller ( ) to to to to to to

The Public Reporting Burden for this collection of information is estimated at 35 minutes per response for collecting, reviewing, and reporting the data. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. No confidentiality is assured; this disclosure is mandatory. This is designed to provide the parties to a RESPA covered transaction with information during the settlement process.

Previous edition are obsolete

SAMPLE
Page 1 of 3

HUD-1

L. Settlement Charges 700. Total Real Estate Broker Fees Division of commission (line 700) as follows : 701. $ 702. $ 704. 800. Items Payable in Connection with Loan 801. Our origination charge 802. Your credit or charge (points) for the specific interest rate chosen 803. Your adjusted origination charges 804. Appraisal fee to 805. Credit report to 806. Tax service to 807. Flood certification to 808. 809. 810. 811. 900. Items Required by Lender to be Paid in Advance 901. Daily interest charges from 902. Mortgage insurance premium for 903. Homeowners insurance for 904. 1000. Reserves Deposited with Lender 1001. Initial deposit for your escrow account 1002. Homeowners insurance 1003. Mortgage insurance 1004. Property Taxes 1005. 1006. 1007. Aggregate Adjustment 1100. Title Charges 1101. Title services and lenders title insurance 1102. Settlement or closing fee 1103. Owners title insurance 1104. Lenders title insurance 1105. Lenders title policy limit $ 1106. Owners title policy limit $ 1107. Agents portion of the total title insurance premium to 1108. Underwriters portion of the total title insurance premium to 1109. 1110. 1111. 1200. Government Recording and Transfer Charges 1201. Government recording charges 1202. Deed $ 1203. Transfer taxes 1204. City/County tax/stamps 1205. State tax/stamps 1206. 1300. Additional Settlement Charges 1301. Required services that you can shop for 1302. 1303. 1304. 1305. 1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K) $ $ (from GFE #6) Deed $ Deed $ Mortgage $ Mortgage $ Mortgage $ Release $ (from GFE #8) (from GFE #7) $ $ $ $ (from GFE #5) (from GFE #4) months @ $ months @ $ months @ $ months @ $ months @ $ per month per month per month per month per month $ $ $ $ $ -$ (from GFE #9) to years to @$ months to /day (from GFE #10) (from GFE #3) (from GFE #11) $ $ (from GFE #1) (from GFE #2) (from GFE #A) (from GFE #3) (from GFE #3) (from GFE #3) (from GFE #3) to to

Paid From Borrowers Funds at Settlement

Paid From Sellers Funds at Settlement

703. Commission paid at settlement

Previous edition are obsolete

SAMPLE
Page 2 of 3

HUD-1

Comparison of Good Faith Estimate (GFE) and HUD-1 Charrges Charges That Cannot Increase Our origination charge Your credit or charge (points) for the specific interest rate chosen Your adjusted origination charges Transfer taxes HUD-1 Line Number # 801 # 802 # 803 # 1203

Good Faith Estimate

HUD-1

Charges That In Total Cannot Increase More Than 10% Government recording charges # 1201 # # # # # # # Total Increase between GFE and HUD-1 Charges $

Good Faith Estimate

HUD-1

or Good Faith Estimate

Charges That Can Change Initial deposit for your escrow account Daily interest charges Homeowners insurance $ /day # 1001 # 901 # 903 # # #

HUD-1

Loan Terms
Your initial loan amount is Your loan term is Your initial interest rate is Your initial monthly amount owed for principal, interest, and any mortgage insurance is $ Principal Interest Mortgage Insurance Can your interest rate rise? No Yes, it can rise to a maximum of after % or higher than %. The first change will be on . Every change date, your %. %. Over the life of the loan, your interest rate is $ years % includes

and can change again every interest rate can increase or decrease by guaranteed to never be lower than Even if you make payments on time, can your loan balance rise? Even if you make payments on time, can your monthly amount owed for principal, interest, and mortgage insurance rise? Does your loan have a prepayment penalty? Does your loan have a balloon payment? on Total monthly amount owed including escrow account payments No No

Yes, it can rise to a maximum of $ Yes, the first increase can be on and the monthly amount .

owed can rise to $ No No

. The maximum it can ever rise to is $

Yes, your maximum prepayment penalty is $ Yes, you have a balloon payment of $ . due in years

You do not have a monthly escrow payment for items, such as property taxes and homeowners insurance. You must pay these items directly yourself. You have an additional monthly escrow payment of $ that results in a total initial monthly amount owed of $ . This includes principal, interest, any mortagage insurance and any items checked below: Property taxes Flood insurance Homeowners insurance

Note: If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender.

Previous edition are obsolete

SAMPLE
Page 3 of 3

HUD-1

WHAT IS TITLE INSURANCE?

DO I NEED TITLE INSURANCE?

Most definitely! Title insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, title insurance pays the cost of defending against any covered claim.

BUT THE LENDER ALREADY REQUIRES TITLE INSURANCE. WONT THAT PROTECT ME?

Not necessarily. There are two types of title insurance. A LENDERS POLICY insures that your lender has a valid lien on the property. Most lenders require this type of insurance, and typically require the borrower to pay for it. An OWNERS POLICY, on the other hand, protects YOUR interest in the property. Title troubles, such as improper estate proceedings or pending legal action, could put your equity at a serious risk. If a valid claim is filed, in addition to financial loss up to the face amount of the policy, your owners title policy covers the cost of legal defense.

SHOULD I SHOP AROUND FOR THE BEST TITLE INSURANCE DEAL?

Florida is one of the states that closely regulate title insurance rates. Significant differences exist in the additional charges you will be required to pay such as settlement fees, title search fees, courier fees, wire fees, etc. It pays to investigate your options.

You also want to work with a title insurer that responds readily to your needs and performs its complex tasks with great accuracy. It is vital that you choose a title company that maintains an experienced and professional staff and management.

HOW TO PREPARE FOR YOUR REAL ESTATE CLOSING

Schedule your closing with your real estate agent accordingly. In most cases, if the buyer is obtaining mortgage financing, it is preferred that the buyer come in at least one half hour prior to the seller so that they can sign their mortgage papers in private. Be sure to allow adequate time in your schedule. A first time buyer will need time for questions. Most closings take at least one hour.

Settlement Agents make every effort to get final closing figures to buyers and sellers as far in advance as possible. Sellers information can be completed much quicker than buyers especially if the buyer is using a lender. Sellers should provide information on current mortgages to the settlement agent so that payoffs can be ordered. Depending upon the lender, some payoffs can take up to 10 days to receive. Buyers should be patient. Most settlement agents do not receive instructions and fees from the mortgage lender until the day before closing. In some cases, the morning of the actual closing.

Florida law requires that all funds brought to closing must be certified. This means you must bring a cashiers or certified check. You may also make arrangements for your funds to be wired directly to the settlement agent. Additional fees may be charged for wiring. All checks should be made payable to Optimum Title, LLC.

Photo identification is required for all buyers and sellers. In some cases, a mortgage lender may require a secondary form of id, usually not a photo id, for example a credit card, social security card, etc. Some examples of acceptable photo identification would include a drivers license, passport, resident alien card, or military identification.

Please bring a smile. Any discrepancies or disputes should be taken care of prior to closing. Our main objective is to make sure all parties involved in the closing are happy and satisfied when they leave. No one ever wins an argument at the closing table.

Email: info@TheSerenaGroup.com Website: www.TheSerenaGroup.com