Transcript document

Coldwell Banker® Buyer Services Presentation
A look into the program and the benefits
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©2009 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated.
Meeting Your Needs
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Helping you find the right home…
in the right location, at the right price.
Listening
 We learn from our buyers,
to be more responsive to your needs.
Guaranteed service
 With the Buyer Services Guarantee we let
you know exactly what to expect – in
writing.
Home-finding plan
 We will follow a customized, detailed plan
to find the right home for you.
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What’s important to homebuyers everywhere?
Communication
Listening to you and keeping you informed
Affordability
Showing you homes within your price range
Needs
Showing you properties that fit your needs
Convenience
Simplifying the home buying process
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My commitment to you
With your agreement naming me as your buyer’s agent, I will work on your behalf to:
Find you the right property
Negotiate the best price and terms for you
Handle the details and keep you informed
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Representing your best interests...
Buyer’s agent :
 Represents you, the buyer
 Has a fiduciary responsibility to work for your best
interests
Seller’s agent :
 Represents the seller
 Has a fiduciary responsibility
to the seller
A dual agent :
 Represents the interests of both the seller and the buyer
 Has a fiduciary responsibility to both parties
Which relationship would you prefer?
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The Search Begins
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The prices that sellers ask
Many factors affect the price that sellers ask for their houses.
Physical characteristics of the house:
 Location
 Age
 Size of house and lot
 Physical condition
 Floor plan and style
Competition:
 Number of properties available
 Their prices and terms
 Their location and physical condition
 How long they’ve been
on the market
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Market conditions:
 Interest rates
 Availability of financing
 Qualified buyer demand
 Prices of recent sales
 State of the economy
 Seasonal demand
Asking price also may be affected by:
 Seller’s motivation to sell
 Seller’s original purchase price
 Seller’s need for cash
 Opinions of others
The value of a Competitive Market Analysis
As your buyer’s agent, I will prepare a Competitive Market Analysis with information on properties similar to the
one you’re considering. It will describe homes that:
Are currently on the market
Sold recently
Failed to sell
This comparative data will help you decide whether the
home you like is worth the price.
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coldwellbanker.com
I can provide you with valuable information through the award-winning Web site, coldwellbanker.com.
Coldwell Banker ® Home File
• Lets you quickly and easily save listings,
get email alerts, run automated searches,
and more.
Neighborhood Information
• Lets you learn more about the communities
that interest you
• Provides facts about schools, climate, and
housing values
• State-of-the-art mapping technology gives
you a bird’s eye view of property in relation
to roads and neighborhood amenities
including schools, hospitals, recreation,
shopping, and more.
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coldwellbanker.com
Buyer Resources
Videos, tools, and valuable
information to help you through the
buying process
Mortgage Center
Gives you access to interactive
mortgage information, rate
calculators, and other tools
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coldwellbanker.com
All the listings, in thousands of places. coldwellbanker.com.
Now buyers can search more than
600,000 listings right from
coldwellbanker.com.
Our award-winning website allows
you to search more than just
Coldwell Banker® listings by
providing homes for sale from real
estate companies across the
country.
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Coldwell Banker On LocationSM
 Coldwell Banker On Location is the first
dedicated video real estate channel on
YouTube
 Video topics include:
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Agent videos
Office videos
Video listings
Community videos
Smart tips and news related videos
 Allows buyers to search for videos via a map
 First to use dynamic IP lookup on the channel
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Multiple Listing Service
I can show you any property listed through the Multiple Listing Service (MLS).
 Our office offers area-wide multiple listing
information that shows thousands of brokerlisted homes for sale, regardless of the seller’s
agent.
 I can help you “visit” many of
these homes online or on paper.
 I will show you the properties that meet your
criteria.
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Yard signs and open houses
A yard sign or open house can let you know a home is available, but I can help you
know if it’s worthwhile.
 I can arrange private showings of homes displaying an “Open House” or
“For Sale” yard signs.
 When visiting an open house on your own, give the salesperson my card
and tell them that I am your agent.
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Buy a home that offers fewer surprises
Coldwell Banker® Homebuyer Ready homes are
properties that have been pre-inspected, had a market
analysis, preliminary title search, Seller’s Disclosure
Statement and a home warranty.
Homebuyer Ready Homes:
 Builds confidence in the purchase
 Eliminate surprises
 Minimize negotiations for the right price
 Have smoother transactions
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Mortgage pre-approval
Being pre-approved for a mortgage
can greatly improve your negotiating
position.
 Sellers and their agents know that a
pre-approved buyer is a serious one.
 Speaking now with a mortgage
specialist will give you a loan decision
well in advance of making an offer.
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Making The Purchase
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Completing the purchase
A successful purchase involves several important elements:
Full written disclosure
Offers and negotiations
The purchase agreement
Professional inspections
Title insurance and appraisal
Walk-through and final closing
Home warranty
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Full written disclosure protects your best
interests
The Seller’s Disclosure Statement reveals information that may affect your offer to
purchase.
I will thoroughly review the Seller’s
Disclosure Statement with you, and
help you determine how it might affect
your offer.
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Preparing the offer…
As your buyer’s agent, I will work to:
 Prepare an offer that will meet your needs
and provide a solid basis for negotiating with
the seller.
 Apply information from the Competitive
Market Analysis that will determine a
realistic offer.
 I will present your written offer to the sellers
and negotiate on your behalf.
 The sellers will have the choice of:
 Accepting your offer as presented
 Rejecting it completely
 Countering it
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I will communicate to you the seller’s
response and, if necessary, suggest further
negotiating options.
An accepted offer leads to a legally
binding purchase contract
The purchase contract
Contingencies
Attorney review
The closing process
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Title insurance will protect your interests in the
property
A title insurance policy:
 Is based on a search of public
records that discloses whether any
others have a legal claim to the
property
 Insures you against loss due to
certain title defects
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An appraisal provides independent confirmation of
the value of the home
An opinion of the property’s value by an
independent fee appraiser:
 Compares the value of the home to others of
similar size, features and location
 Is usually required by lenders
 Can give you additional confidence in the
value of the property
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A walk-through prior to closing…
Lets you confirm the condition of the property.
 A thorough walk-through will help
you determine if the property is in
the condition you expect.
 I will accompany you.
 Should a concern arise during the
walk-through, I will assist you in
resolving it.
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A home warranty can protect you from unforeseen risks
 Provides repair-or-replace coverage
 Gives you peace of mind
 Can be purchased by you or by the
seller, as agreed upon in the contract
I will provide you with the details of the
Coldwell Banker® Home Protection Plan.
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Financing Your Home
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How much home can you afford?
Prequalification
 Establishes how much you
can afford to borrow
 Is not an assurance of
mortgage approval
Pre-approval
 Is a firm decision on a home loan
 Makes you a “cash buyer”
in seller’s eyes
 Gives you increased bargaining power
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The financing process
Financing your home is an involved process. I’ll help you through it.
1. Loan application is completed and submitted to lender
2. Lender orders appraisal, credit report, verification of your
employment and assets
3. Lender provides a good faith estimate of closing and
related costs, plus initial Truth In Lending disclosures
4. Lender evaluates application and support documents,
approves loan and issues letter of commitment
5. Closing is held, loan documents are signed and the loan
is funded
6. Lender disburses funds to the settlement or closing
agent, seller is paid and title to the home is yours
7. Required documents are recorded at the County office of
records
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Applying for a mortgage...
is the first step after your purchase offer is accepted.
The lender may request copies of:
Current pay stubs
Bank statements
Credit card statements
Investment/brokerage firm statements
Loan statements
Tax returns, usually for two years
Your mortgage application can be processed more easily if you
are prepared with these documents.
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Our Local Office
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