global network coldwell banker® buyer services presentation © 2009 coldwell banker real estate...
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Coldwell Banker® Buyer Services Presentation
©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.
A look into the program and the benefits
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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 youWith 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 prices that sellers askMany 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
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
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The value of a Competitive Market AnalysisAs 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.comI 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
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.
All the listings, in thousands of places. coldwellbanker.com.
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Coldwell Banker On Location is the first dedicated video real estate channel on YouTube Video topics include:
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
Coldwell Banker On LocationSM
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Multiple Listing ServiceI can show you any property listed through the Multiple Listing Service (MLS).
Our office offers area-wide multiple listing information that shows thousands of broker-listed 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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Completing the purchaseA 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 interestsThe 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
I will communicate to you the seller’s response and, if necessary, suggest further negotiating options.
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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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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.