Home Buyer Guide

A complimentary guide when looking to buy a home.

Your Search Begins

Buying a home is one of life's biggest investments and most exciting adventures. Your Coldwell Banker independent agent is your partner in the process, guiding you along the way to make your experience smooth and successful.

This Home Buyer Guide includes helpful information to get you started:

  1. The Purchasing Process
  2. The Power of Pre-Approval
  3. Your Home Search
  4. Full-Service Support

Purchasing Process

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Step by step:

  1. Obtain mortgage pre-approval.
  2. Discuss your new home wants and needs with your agent.
  3. Select properties to view.
  4. Negotiate terms.
  5. Write an offer to purchase.
  6. View properties.
  7. Accept the contract.
  8. Contingencies.
  9. Obtain funds for closing.
  10. Close on your new home.
  11. Move in!
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Contingencies:

● Conduct inspections.

● Obtain mortgage financing.

● Obtain homeowner's insurance.

● Resolve any issues.

● Order appraisal.

● Obtain title insurance.

Your Partner in the Process

When you choose a Coldwell Banker agent to represent you, you'll have someone by your side every step of the way, giving you the insights and information you need to have confidence in your decision.

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Your Sales Associate Will:

● Meet with you to discuss your needs and goals, and to plan your property search.

● Help you get pre-approved and establish your budget.

● Show you properties that meet your criteria.

● Keep you informed of new properties that come on the market.

● Work with you until you find the right home.

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● Help you determine your offer.

● Negotiate the offer and contract in your best interests.

● Facilitate the home inspection and resolution process.

● Prepare you for closing and the associated costs.

● Keep you updated on the progress of your transaction every step of the way.

The Power of Pre-approval

Why Pre-approval Matters

The first step in any home search is finding out exactly how much home you can afford and securing the financing to make the purchase. While you can get a rough estimate through prequalification, taking the extra step to obtain pre-approval will give you some added advantages.

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Pre-Approval Helps You:

● Understand your financial condition.

● Know exactly how much you can afford before you begin your home search.

● Strengthen your purchasing power when making an offer.

When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you're serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.

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The Pre-approval Process

Here are some of the documents that you will need to provide your lender to get the pre-approval process started:

Income

● Current pay stubs, usually for last two months.

● W-2s or 1099s, usually for last two years.

● Tax returns, usually for last two years.

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Assets

● Bank statements

● Investments/brokerage firm statements

● Net worth of businesses owned(if applicable)

Debts

● Credit card statements

● Loan statements

● Alimony/child support payments(if applicable)

Your Home Search

Your Agent's Website

The first stop on your home search? Your agent's website. Not only is it an easy way to check out all the available properties in your preferred area, it's also another way for your agent to get to know the types of properties that you like. Simply register on the site, and your agent will receive updates about your activity. Plus, you can save your search for future access, save and share homes you like, and sign up to receive email alerts when new homes that match your criteria come on the market.

And thanks to its responsive design, you can do it all from your mobile device, tablet or desktop!

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ColdwellBankerHomes.com

Make your online home search easy with one website that gives you access to everything home buyers need.

With ColdwellBankerHomes.com, you can:

● Search all available MLS listings in your preferred location, based on preferences you specify.

● See the results of your search in map or list view.

● Look at multiple images and read full details about properties that interest you.

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● Save your search so you can easily return to it each time you come back to the site.

● Sign up for email alerts on new properties or open houses that meet your search criteria.

● Share your favorite properties with your friends via email or social media.

● Discover information about the community and area schools.

● Larn more about the home-buying process.

● Easily conduct your search from your mobile device, tablet or desktop through the site's responsive design.

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Making an Offer

There are many factors that influence the market value of a home. Your Coldwell Banker agent will give you the insight and information you need to make an offer you're comfortable with. Some of the factors to include:

● How long the home has been on the market.

● If the price has been reduced.

● How much the home is worth - your agent will provide a comparable market analysis (CMA) showing the list and sale prices for similar homes in your area.

● If there are multiple offers.

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● Other items that might be included in the sale (furniture, hot tub, etc.).

● The "list to sale price ratio," an indication of how competitive the market is for homes in this area.

● Why the seller is selling.

● Whether the seller isoffering an assumable loan for financing.

Once the offer is written, your agentwil present it to the seller'sagent. A that point the seller can accept your offer, reject it or counter it o startthe negotiation process. Your agent will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricingfor you and your budget.

Closing on Your Home

Once ur ofer has been accepted, te closing process begins. Here are some f thetypicaly steps involved.

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Home Inspection

Most property sales are contingent on the results of home inspection, which is paid for the buyer. The inspection typically occurs within 10 days of offer acceptance, andincludes a review of the home's exterior elements like the roof, sidin, trim ad windows, as well as kitchen andbahrom fixtures and appliances, and major systems like heang and cooling, plumbing nd elecrical.

If defects are discovered during he inspection, you may exercise theremedy described in your offer o negotiatewiththe seller to determine what repairs will be made.

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Title Search

This is a historical review f all legal documents relating to ownership of the property to ensure that you purchase title insurance in case the records contain errs or there are mistakes in the review proess.

Appraisal

As a standard part of the mortgage process, your lender will order an appraisal report to ensure that the loan will be guaranteed by the home's value.

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Final Walk-through

If it's requested in the contract, you'll be given the chance to look at the home to make sure it's in the same condition as when you signed the sales agreement.


Closing Costs

In addition to your deposit and down payment, there are a variety of other costs involved in closing including:

● Loan origination fees, appraisals and reports

● Surveys and inspections

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● Mortgage insurance

● Hazard insurance

● Taxes 

● Assessments

● Title insurance, notary and escrow fees

● Recording fees and stamps

Full Service Support

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Start to Finish

Coldwell Banker Realty is your partner in all aspects of the home-buying process. Our industry affiliations ensure you receive complete assistance from beginning to end, giving you one-stop-shop convenience.

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7 Things to Avoid after Applying for a Mortgage!

Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.

Work With Janie

There are many qualities and skills that go into being an excellent real estate professional, integrity, in depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.

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