Specifications include, but are not limited to: 1. Seminars Conduct a total of two (2), eight-hour regularly scheduled homebuyer education seminars, one in English and one in Spanish, per month over a twelve month period, providing an overview of the home buying process utilizing County approved materials. Class size shall be a minimum of 25 in each class. If the class size is less than 25 attendees, payment will be calculated based on a prorated share of attendees. 2. Qualifications For the life of the contract, the Contractor’s assigned staff shall have a minimum of two (2) years’ experience in the area of providing homebuyer education services. Any modifications of key personnel shall be approved by the County with seven (7) business days’ notice to review qualifications. 3. Overview The Contractor shall, in the form of take home hand-outs, provide participants with an overview of the home buying process to include at minimum information on: Assessing Home Ownership Readiness • Pros and cons of homeownership • Selecting an affordable home • Understanding Credit Reports Budgeting and Credit • Household Budgeting and debt management • Importance of good credit and understanding credit • Credit bureaus, reports and scores Financing a Home • Lenders role and the loan application process • Housing affordability and qualification • Steps in the mortgage loan process • Sources and types of mortgage loans – including Orange County’s State Housing Initiatives Partnership (SHIP), HOME and NSP loan programs • Escrow and the loan closing process • Common lender and loan closing documents Looking for a Home • Real Estate agents role • Types of homes – single family, townhome, condominium • The sales contract and presenting an offer to purchase • Home inspections – differences between an appraisal and a home inspection • Fair Housing • Understanding of a Homeowner’s Association (HOA) Maintaining a Home • Real estate taxes and insurance • Filing for Homestead Exemption • Record keeping • Preventive maintenance
