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A Home Shop "Certified Buyer" is either a cash buyer or a borrower who has received
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automated underwriting approval. An underwritten approval is a bonafide loan approval and
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is as good as cash. This approval process eliminates the guesswork for both the buyer
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and the seller, which ensures a smooth transaction. Additionally, to become a Certified
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Buyer, first-time homebuyers must attend one of our home buying seminars or have watched
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our online "Webinars/Videos". While we strongly urge all buyers attend our
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seminar or watch the online videos, experienced homebuyers or experienced investors are
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exempt from the educational requirement.
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Having a Home Shop Certified Buyer Card has numerous advantages. The Certified
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Buyer card shows you are fully qualified to purchase a home, whether you purchase a
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Home Shop property or any other property. So, when you want to submit an offer on a
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property, all parties involved know you are fully qualified and ready to buy the home. If
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you are purchasing a home outside of Home Shop, during the offer stage, an
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underwritten loan is worth significantly more to the seller than a "pre-approval" letter
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(which will require underwriting at a later date anyway), enabling you to possibly get
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better pricing on the deal or increase the chances of winning the bid in a bidding war
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scenario, even against cash buyers.
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The card is also a way for you to call into Home Shop and update your information, so
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when you have a change to your qualifications, you can update it by giving them your
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Certified Buyer number off your card.
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As each registrant is issued a Home Shop Certified Buyer Card, the numbers are
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incrementing higher. The earlier you become a Certified Buyer, the lower your
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account number. In scenarios where multiple buyers desire the same Home Shop
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property, instead of allowing a bidding war on the property, the property is sold to one
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of the buyers based on a computer algorithm, where most of the weighting is
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determined by how early you became a Certified Buyer. Since Home Shop is
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significantly undercutting the fair market value of the properties, we anticipate that a lot
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of the properties will have interest from multiple buyers, so the earlier you register the better.
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Loan officers have access to two commonly accepted automated underwriting
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software programs. Desktop Underwriter (DU) is Fannie Mae's automated
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underwriting software program and Loan Prospector (LP) is Freddie Mac's
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automated underwriting software program. The computer software program analyzes credit
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history, calculates debt-to-income and loan-to-value ratios, employment stability,
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assets and affordability to determine a borrower's profile and whether loans meet
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eligibility requirements. An automated underwriting approval is a bonafide loan
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approval and is as good as cash. Upon approval, you will be either "DU approved" or
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"LP approved" (or a cash buyer) in our database; this approval is required by
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Home Shop to be a Certified Buyer.
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Social Security numbers of all Borrowers on Loan
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2 year job history (Company name, address, position held)
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Current address and history of properties lived in for the last 2 years
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2 months bank statements and all assets (401k, securities, stocks, etc)
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Down Payment Available
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Once you are certified, it has to be updated every 60 days. That update can be simple
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if there are no changes. You loan officer just needs to send an updated letter. If there
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are any changes, the loan officer has to rerun your qualification process to ensure that
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you still qualify for the amount you are certified for.
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A Home Shop Certified Real Estate Agent is a licensed REALTORTM who is focused
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on getting buyers fully educated in the home buying process and getting buyers access
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to properties at considerable market discounts. These buyers have full access to the
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home inventory exclusively showcased on Homeshop.com. The Home Shop Certified
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Real Estate Agent is expected to promote the Home Shop program to potential buyers
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and assist in the home buying process with the buyer. Home Shop
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assists the agent in getting the buyers qualified and ready to purchase one of our
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homes. Real Estate Agents registering Home Shop buyers are secured in a buyer list
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and commissions are protected as the buyers shop for a home.
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Must first have fulfilled the requirements for being an Authorized Real Estate Agent.
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Attend the 2-Hour Certified Real Estate Agent Training Click here to Register
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Enroll a minimum of 5 Certified Buyers/Borrowers
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As a Certified Real Estate Agent with Home Shop, your buyer leads will be provided
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based on the number of Certified Buyers that you register. The higher the leads,
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the higher your agent participation and therefore, a higher percentage of buyer leads for
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your local area. Your buyer leads will be delivered to you via email.
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As a Certified Real Estate Agent, the buyers you listed are required to be under an
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agency agreement with you and your brokerage which is your protection. If your buyer
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calls into Home Shop, we will be able to search for them and see that they are registered
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with you. We will also request if the buyer is working with an agent to ensure we have
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several ways to get that information, in order to ensure your name
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and information is tied to that buyer.
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The brokerage agency agreements will be the source of clarity. Home Shop will
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require the brokerages involved to resolve the matter to ensure clarity to Home Shop
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in this matter. Our program will pay the commission to the brokerage who submits the
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contract for that buyer and is registered with that Certified Buyer.
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A Home Shop Certified Lending Partner is a member of a financial institution who provides
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and quickly approved as Home Shop Certified Buyers. These Certified Buyers have full access
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to the home inventory exclusively showcased on Homeshop.com. The Home Shop Certified
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Lending Partner is expected to promote the Home Shop program to potential buyers and runs
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full Freddie Mac or Fannie Mae automated underwriting approvals for the Home Shop
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buyers brought in through the Home Shop national advertising program. Lenders registering
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Home Shop buyers are secured in a lender buyer list and are protected as they shop for a home.
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Your Certified Real Estate agent will use the local association or their brokerage forms to
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submit offers as it is typically done. If you do not have an agent, an attorney can submit
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an offer on your behalf.
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You can not submit an offer to Home Shop. Your Buyer Certification must be in good standing
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or you can not submit an offer. If you do submit an offer, the offer will be rejected based
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on your qualification has expired. If you want to submit an offer, call into 1-800-Home-Shop
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to update the information and get your new loan information updated and then you can submit an offer.
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In order to receive a Buyer Certification email, we must get your loan officer to send us the
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required approval letter or you must send in proof of cash for a Cash certification.
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Without that information registered on our files, no Buyer Certification can be released.
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In order to receive a Buyer Certification email, we must get your loan officer to send us the
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required approval letter or you must send in proof of cash for a Cash certification. Without that
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information registered on our files, no Buyer Certification can be released.
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You must complete the courses sent to you on the Buyer Certification Email and fax in the
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completed review sheet before a Buyer Certification Card is sent to you. Once you complete the
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course and review sheet, fax in the review sheet to 1-800-886-3115 or fax@homeshop.com.
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Those are to be sent to the Home Shop representative’s brokerage listed for the property and must be
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provided within the state requirements. Escrows will not be released until a full release is completed.
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You can preview and view homes during the open house dates provided. Home Shop properties
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are sold "as-is" and contracts shall be presented that way.
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