3. THe Goldwasser Team
REALTOR® Partners
The Goldwasser Team’s REALTOR® Partners are by far the best
in the business. The team is recognized by the Austin Business
Journal as the number one residential real estate sales team in
the Austin metro area. The team completed 200 transactions in Chad Goldwasser
2005, doubled that in 2006, and is on track to hit 800 in 2007. Chief Executive Officer
What does that mean for you? A lot of experience on your side of
the negotiations in your real estate transaction. Experience alone
is not enough to be successful. The entire team is dedicated
to continuing education through both real estate seminars and
regular in-house training. In addition, the team has earned
multiple designations by studying the laws and practices of the Greg Cooper
real estate industry. Vice President, Sales
The Goldwasser Team holds designations in the Council of
Residential Specialists; Graduate, REALTOR® Institute; Accredited
Buyer Representation; and Certified Luxury Home Marketing
Specialist. They are graduates of the Star Power University and
attend team continuing education over five hours each week.
All agents stay on top of the local Austin market by viewing and
comparing properties on a daily basis. They also continually
study and research industry trends to determine what the market
may hold in the future.
There is simply no better qualified nor better prepared team of
residential real estate specialists in Austin!
Operations Team
With many years of experience in real estate, the team of managers
assisting in the sale of your property is among the best! Countless
details need special attention during a real estate transaction.
Realistically, no one person can be effective in all areas of real Tara Goldwasser
estate, including market research, negotiating, marketing, graphic Chief Operating Officer
design, copywriting, and transaction details.
Our team’s specialized managers focus solely on each phase of
the real estate transaction and strive to be the best in the business
at what they do. During the sale or purchase of your home, expect
to be in touch with these dedicated professionals as they handle
all aspects of the transaction.
Phone: 51-40-0300 • Fax: 800-948-4045 • E-mail: info@goldwasserteam.com • www.GoldwasserTeam.com 3
4. BuyinG wiTH THe Goldwasser Team
Your Exclusive Buyer Agent
There are three different ways in which you can be represented during the purchase of a new home, and none of them cost you, the buyer, any money. Then why do people often choose
the worst form of representation? Usually it is due to a lack of education about the home buying process. Our goal is to be your Exclusive Buyer Agent and to assist you in making well-
educated and informed decisions throughout the home buying process.
You can be represented in a real estate transaction in the following ways:
1 . THe Broker/aGenT rePresenTs THe seller (Good for seller, Bad for Buyer)
This is the agent who has a written agreement to sell the client’s home. In addition, if any agent shows you homes without being in a written buyer agent agreement with you, by law they
are acting as a subagent to the seller and have fiduciary duties to the seller, not you! In this agreement, the buyer should not tell the agent any information he does not want the seller
to know because the agent must disclose to the owner any material information they have.
2 . THe Broker/aGenT rePresenTs THe Buyer (GreaT for seller, GreaT for Buyer)
This is how a buyer is represented when they have entered into a written buyer representation agreement with their Exclusive Buyer Agent. The agent must put the interests of the buyer
first and foremost and will provide the buyer with any material information they have about the seller.
3 . THe Broker/aGenT acTs as an inTermediary (Good for seller, Good for Buyer)
If the agent obtains written consent from both the buyer and seller in a transaction, they may act as an intermediary to the transaction. The agent must treat each party honestly and
fairly and may not disclose any material information about either party to the other. The intermediary agent is in essence the “middle man.”
The only way the Goldwasser Team will represent you in a transaction is as your Exclusive Buyer Agent with a written buyer agency agreement. If we didn’t, then we would be
representing the seller according the Texas Real Estate Commission.
4 Goldwasser Team • Keller Williams Realty • 500 N. Capital of Texas Hwy. • Bldg. 5, Ste. 100 • Austin, TX 78746
5. BuyinG wiTH THe Goldwasser Team
What We Can Help You Buy
Our team of Exclusive Buyer Agents will evaluate your home buying needs in our first meeting with you and will then be better prepared to assist you in your home buying search. We
are highly skilled in locating the ideal home for you, whether it’s an existing home, a for sale by owner, or a new builder construction! In all three transactions our commission fees are
pre-negotiated so that the seller is responsible for them, not the buyer.
exisTinG Homes
Once we know your wants and needs based on our initial consultation, we spend a day previewing properties that meet your criteria. We show you homes listed by any brokerage firm in
the Austin area and we are able to narrow a list of hundreds of properties because of factors such as neighborhood or home features. We preview the properties first because we are
able to look at several homes in the time it would take both of us to view just a couple. Other agents may make you spend your valuable time driving by homes and then telling them
which homes you wish to see. Instead, we narrow the list and show you only the most well-kept homes, in the best areas, at the best value—unless you are looking for a fixer-upper, in
which case we will adjust our criteria for narrowing the search. The bottom line is to save you time and money!
for sale By owner
We often work with homeowners who wish to sell their home themselves. In fact, many of the listings that our team takes are from people who have tried unsuccessfully to sell their
homes themselves. We maintain awareness of all for sale by owner properties in the Austin area and will be happy to arrange a showing for you. In this transaction, you will continue to
be represented by us with our buyer’s representation agreement. It is the seller who loses, as they complete the transaction with no professional representation.
new Builder consTrucTion
Many home buyers are not aware that the representatives at new construction sales centers work for the builder, and do not represent the buyer’s best interests. Our team has
extensive knowledge of area builder reputations, floor plans, and lots, as well as schools, neighborhoods, amenities, and accessibility. As your Exclusive Buyer Agent, we will negotiate
the purchase price on your behalf with the builder and assist you in selecting upgrades. We will work behind the scenes throughout the transaction to ensure everything goes smoothly.
Before We Get Started
The single most important thing for you to do before beginning your new home search is to select and meet with a mortgage lender. You can find a list of recommended lenders in the
vendor list at the back of this guide. It is important to do this before we begin our search for several reasons:
1. It allows you to determine how much your monthly payment will be.
2. It helps us to determine what price range we should stay within.
3. It gives you an estimate of how much money you will need to have for the down payment and closing costs.
4. Most importantly, it helps us to negotiate from a stronger position.
Phone: 51-40-0300 • Fax: 800-948-4045 • E-mail: info@goldwasserteam.com • www.GoldwasserTeam.com 5
6. BuyinG wiTH THe Goldwasser Team
So, You’re Ready to Buy a New Home! Monthly payment schedule based on 8%
Whether this is your first home purchase or one in a line of several over the past years, we would
like to provide you with some basic information up front to prepare you for your search. We APR Interest for a 30-year mortgage .*
hesitate to begin this with information about what it will cost to buy your new home, but after all,
money is the bottom line. We are certain you would like to be informed of what costs you will incur. loan amounT monTHly PaymenT
$100,000 $ 733
four cHecks Prior To closinG $110,000 $ 807
You will need to write four checks prior to closing on your new home. All costs are average and will $120,000 $ 880
vary with the price, size, and features of your new home.
$130,000 $ 953
1. Option Fee ($100–$500): Payable to seller at the receipt of the contract and credited toward $140,000 $1,027
your closing costs. $150,000 $1,100
2. Earnest Money (1% of the sales price of the home): Payable to the title company at signing of $160,000 $1,174
offer. This will be credited toward your closing costs. $170,000 $1,247
3. Inspection ($300-$500): Payable to the inspector at time of the inspection during the option $180,000 $1,320
period. $190,000 $1,394
4. Credit Check and Appraisal ($400): Payable to the lender after the option period expires. $200,000 $1,467
$210,000 $1,540
your monTHly PaymenT — PiTi $220,000 $1,614
The monthly payment on your new home will include the principle and interest on the loan you
$230,000 $1,687
take out with your mortgage company. In addition, you will be responsible for paying yearly
property taxes and homeowner’s insurance. If you choose, you can have your taxes and insurance $240,000 $1,761
added to your monthly payment (some loans require this), or you can pay them on an annual $250,000 $1,834
basis. The table at the right will give you an idea of the monthly payment you can expect, including $260,000 $1,907
your loan principle and interest (P I) based on a 30-year mortgage at 8% APR interest rate. Taxes
$270,000 $1,981
and insurance will vary greatly depending on the area in which you live and the features of your
$280,000 $2,054
home. Generally, on a $100,000 to $200,000 home, your taxes will range from $2,000 to $4,000
annually and your homeowner’s insurance will range from $300 to $800 annually. $290,000 $2,127
$300,000 $2,201
Once you have found the home you wish to purchase, your lender can complete a Good Faith
$310,000 $2,274
Estimate for you that will better predict your closing costs and estimated monthly payment.
$320,000 $2,348
$330,000 $2,421
$340,000 $2,494
$350,000 $2,568
$360,000 $2,641
$370,000 $2,714
$380,000 $2,788
$390,000 $2,861
$400,000 $2,935
*Monthly payments listed are principle and interest only.
Taxes and insurance are additional.
6 Goldwasser Team • Keller Williams Realty • 500 N. Capital of Texas Hwy. • Bldg. 5, Ste. 100 • Austin, TX 78746
7. Home BuyinG Process
Process Diagram
Start Phase One Start Phase Two
Initial Consultation Order Mortgage Send Loan to
Information about Brokerage Services Appraisal Company Underwriting
Buyer’s Representation Agreement
Buyer’s Packet
Loan Approval
Application for
Credit Report
Loan Pre-approval
Order Title Title
Survey Company Search
Buyer Agent Previews Properties
Buyer to Arrange for Transfer of Utilities
View Active Listings
Make Offer Negotiate Mortgage Company Delivers
on Property Terms of Offer Final Loan Documents to Title Company
Final Contract Title Company Prepares HUD 1 Statement
Buyer to Arrange for Homeowner’s Insurance
Buyer Brings Cashier’s Check to Closing
Option Period:
Home Inspection
7–10 Days
Home Ownership
Negotiate Repairs Amendment
Option Period Expires
Proceed to Phase Two
Phone: 51-40-0300 • Fax: 800-948-4045 • E-mail: info@goldwasserteam.com • www.GoldwasserTeam.com 7
8. Home BuyinG Process
Tasks and Time Frames
We go through several steps together while finding and purchasing your home. For many of these we simply tell you that the task has been completed for you; however, others may
require some work from you. We inform you about every aspect of the transaction and remind you when there are tasks that you should be working to complete. The chart on the
previous page shows the flow of these tasks so you can better understand the home buying process.
Task: secure financinG Time frame: Before we BeGin lookinG
The first step in buying a home is to obtain loan pre-approval. This provides you with the information you need to determine how much home you can afford and what type of monthly
payment you are comfortable with. In addition, many sellers do not consider offers from buyers who are not pre-approved. We work with several lenders who have proven to offer
exceptional customer service and competitive interest rates. A list of recommended lenders can be found in the vendor list at the back of this guide. You may use one of these, or you
may choose one of your own.
Three elements are crucial to the purchase of a home: the down payment, closing costs, and qualifying for a mortgage. Here is a quick rundown of what you should know:
Down Payment
Conventional lenders typically require a 20% down payment, although you may be able to find loans with no down payments. With down payments less than 20%, you will likely have to
pay private mortgage insurance, which guarantees the lender will be repaid in case of default.
Mortgages insured by the Federal Housing Administration (FHA) and those available to U.S. veterans often require very low down payments. Ask your lender if you can qualify for one of
these loans.
If you have trouble coming up with the down payment, there are some tips to ease the burden:
• Start early. Begin saving for a down payment as soon as possible. After a few years, it adds up.
• Ask for a Flex 97 mortgage, underwritten by Fannie Mae. It only requires 3% down provided that you have good credit. Also, you may be able to borrow that 3% on credit cards.
• Convert stocks. Consider selling stock for the down payment. The housing market is often a better investment anyway.
• Sell an asset. If you have “toys” such as a boat, extra car, or other asset, consider selling it for the down payment.
• Borrow from relatives. Today lenders will allow you to use money from relatives as the down payment if it is provided as a gift. Check with your lender for restrictions.
Closing Costs
No matter what home you buy, there will be closing costs. These can include discount points, title insurance, escrow fees, attorney fees, a termite report, recording fees, appraisal fees,
document preparation fees, notary fees, and loan underwriting fees. Usually, these are due in cash, but sometimes they can be folded into the mortgage.
Loan Qualification
Primarily, your income plus the interest rate secured, determines the size of the mortgage for which you qualify. The higher the interest rate, the higher the monthly payment. The higher
the monthly payment, the more income you need to qualify for the mortgage. For conventional financing, lenders generally limit the monthly payment to 28% of your gross monthly
income. Exceptions can be made depending on individual circumstances. The amount of debt you currently have may also factor in the decision.
Contacting a lender before you make an offer on a house may be a good idea. This head start gives you a chance to resolve any problems that may arise without the pressure of
contract deadlines. You can also get pre-approved for a loan, which puts you in a strong position if you make an offer on a house that receives offers from other buyers.
8 Goldwasser Team • Keller Williams Realty • 500 N. Capital of Texas Hwy. • Bldg. 5, Ste. 100 • Austin, TX 78746
9. Home BuyinG Process
Task: insPecTion Time frame: aT accePTance of offer
Upon acceptance of your offer, you will arrange for an inspection of the property. This needs to be completed during the option period so that if something is discovered during the
inspection (that you cannot live with and the seller is not willing to fix), you may cancel the contract and only forfeit your Option Fee.
The enclosed vendor list provides a list of inspectors licensed by the Texas Real Estate Commission (TREC). The inspection will take two to four hours and you will only need to be
present for the last half-hour when the inspector reviews the findings with you. All homes have a long list of minor repairs. However, we are mainly looking for major mechanical or
structural defects to the property. The cost of the inspection varies based on the size and features of the home and will range from $300 to $500. This payment is due at the time of the
inspection.
Task: PrePare amendmenT Time frame: immediaTely followinG insPecTion
After the Inspection, we will complete an amendment to the contract. This amendment will include any items that were discovered during the inspection that you would like the seller to
repair for you. The amendment will then be negotiated between you and the seller, much like the contract was. Once an agreement on repairs to be completed has been reached, you
will forfeit your right to the Option.
Task: oBTain Homeowner’s insurance Time frame: durinG oPTion Period
In order to close on your new home, you need to arrange for Homeowner’s Hazard Insurance. You will need to notify your lender of the insurance company you choose, a contact name,
and a phone number. The enclosed vendor list provides names of insurance agents that our clients have used in the past and have been very satisfied with. You may receive a discount
by having your car insurance and homeowner’s insurance with the same company, so check with your current insurance agent as well. We recommend that you obtain at least two
estimates from different agents and then make a decision.
Task: Transfer uTiliTies and scHedule services Time frame: Two weeks Prior To closinG
You will need to transfer the utilities to your name before moving into your new home. In order to save money on hook-up fees, call ahead and ask the utility companies to transfer the
billing to your name upon cancellation by the seller. In the enclosed vendor list you will find most utility information for Austin and surrounding areas. If you need further information,
please don’t hesitate to call us; we are here to help you.
Task: funds availaBle in THe Bank and ensure loan QualiTy Time frame: 72 Hours Prior To closinG
Obtaining pre-approval for a home loan is just the first step in funding your loan at closing. Many times buyers plan to use monies from stocks or 401(k) retirement plans as down
payment on their new home. If you plan to liquidate stocks or 401(k) to supplement your down payment, the money from the sale of these funds must be available in the form of cash in
your bank account at least 72 hours prior to closing. Because a withdrawal from a 401(k) can be a complicated and time-consuming process, we advise you to begin the withdrawal of
these funds immediately.
On average, one out of five home mortgage loans goes through a quality control check. The lender does this to ensure that the borrower’s financial status has had NO CHANGE since
the approval of the loan was granted. No matter how good your financial situation is, lenders strongly advise against changing your financial status from the date of your loan approval.
This includes, but is not limited to, applying for new credit, gaining new credit, purchasing appliances, furniture, cars, changing jobs or quitting your job. An appropriate time to make any
of the above financial changes would be after the closing and funding of your new home. If you have any questions about your purchase decisions while you are waiting to close on your
new home, please consult your mortgage lender for advice.
Task: Hud 1 Time frame: one day Prior To closinG
One day prior to closing, or sometimes just hours prior to closing, the title company will complete the HUD 1. This is the document that tells us how much money the buyer needs to
bring to closing. We will call you with this amount and to tell you the location of the closing. You will then have a cashier’s check made out to the title company in the correct amount
according to the HUD 1. Bring this check along with your driver’s license to closing on the specified day.
Task: closinG Time frame: day of closinG
You will receive keys to your new home from the seller when the loan funds. You may be able to begin moving in immediately following closing, although some sellers may require that
funding go through before you may take possession. Funding usually happens by the end of the business day. The closing will take approximately one hour.
Phone: 51-40-0300 • Fax: 800-948-4045 • E-mail: info@goldwasserteam.com • www.GoldwasserTeam.com 9
10. service Providers
Services Home warranTy comPanies
Allied Home Warranty
Junk removal
Junk Busters USA
512-736-9022 512-249-5500
accounTinG www.alliedhomewarranty.com
Egon Stockenbojer
512-450-0344 American Home Shield
landscaPinG and yard mainTenance
Top Choice Home and Lawn
800-800-8880
512-300-4177
air condiTioninG www.ahswarranty.com
www.topchoicehl.com
Faught Service Company
First American Home Buyers Protection Corp .
512-419-1066
512-585-4976 leasinG
www.homewarranty.firstam.com Shelley Dreiss
aPPraisal services 512-248-2468
Texan Appraisal Services Home Warranty of America
512-732-0686 512-762-3507
markeTinG
360 Promotions
carPenTry insPecTors 512-282-2500
Working Hands Construction Nunnallee Inspections
512-419-7650 512-415-5474
www.nunnalleeinspections.net
morTGaGe lendinG
Coast to Coast Mortgage Lending/Jeff Wilkinson
cleaninG 512-899-2550
Maids on Duty Quality Home Inspections
www.coasttocoastmortgageonline.com
512-287-9977 512-894-0404
www.qualityhomeinspections.info
Land Mortgage/David McMillan
enerGy and safeTy audiTs Precision Inspection
512-498-3600
Estimating Services Unlimited www.themcmillanteam.com
512-282-0455
512-924-2271 www.precisioninspection.biz
movinG
floorinG insurance Ace Relocation Systems
Designer Floors of Texas, Inc . 512-268-5115
Allstate Insurance/Anna Perez
512-263-3333 512-263-0909
Blue Whale Moving
www.allstate.com/pguerrerojr
512-328-6688
foundaTion rePair
Bruecher Foundation Farmers Insurance/Anna Perez
Central Transportation Systems, United Van Lines
512-335-8867 512-338-0021
512-651-0155
www.farmersagent.com/aperez1
Handyman service Hausmann Insurance Agency PainTinG
Fine Handyman 512-453-0755 Texas Painting Co .
512-626-9960 512-339-0848
State Farm Insurance/Carmina Eaton www.repaintingtexas.com
Whatever Handyman 512-244-6641
512-450-2568 www.carminaeaton.com
PrinTinG and siGns
CC West
512-804-2299
10 Goldwasser Team • Keller Williams Realty • 500 N. Capital of Texas Hwy. • Bldg. 5, Ste. 100 • Austin, TX 78746
11. service Providers
roofinG
Apple Roofing
Area Utility Providers ciTy of lakeway
Electric
512-259-7009 Austin Energy: 512-494-9400
www.applersg.com ciTy of ausTin Pedernales Electric: 512-331-8883 / 888-554-4752
Electric Water/Sanitation
Lakeway Municipal Utility District: 512-261-6222
Longhorn Roofing Austin Energy: 512-494-9400
Pedernales Electric: 512-331-8883 / 888-554-4752 Hurst Creek Municipal Utility District: 512-261-6281
512-478-2500
Water/Sanitation Gas
City of Austin Utilities: 512-494-9400 Atmos Energy: 800-460-3030 (choose option for new service)
Superior Roofing Telephone
Gas
512-563-9349 ATT: 800-464-7928
Atmos Energy: 800-460-3030 (choose option for new service)
www.roofingsuperior.com Texas Gas Service: 800-700-2443 Cable TV
Telephone Time Warner Communications: 512-485-5555 / 800-418-8848
saTelliTe Tv ATT: 800-464-7928
ciTy of leander
DISH Network and DIRECTV Cable TV
Time Warner Communications: 512-485-5555 / 800-418-8848
Electric
512-250-3474 Pedernales Electric: 888-554-4732
www.xcable.com Water/Sanitation
ciTy of cedar Park City of Leander: 512-259-1142
Electric Gas
securiTy sysTems Pedernales Electric: 888-554-4732 Atmos Energy: 800-460-3030 (choose option for new service)
ADT Blue Line Security TXU Energy: 800-242-9113 Telephone
512-918-3474 Water/Sanitation ATT: 800-464-7928
www.xcable.com Cedar Park Water Department: 512-258-4121 Cable TV
Gas Cox Communications: 512-930-3085
sePTic sysTems Atmos Energy: 800-460-3030 (choose option for new service)
Telephone
Necessary, Inc . ATT: 800-464-7928
ciTy of PfluGerville
512-445-2250 Cable TV Electric
TXU Energy: 800-242-9113
Time Warner Communications: 512-485-5555 / 800-418-8848
Reliant Energy: 800-218-7130
sPrinkler sysTems Water/Sanitation
Marschall Irrigation ciTy of driPPinG sPrinGs City of Pflugerville: 512-251-3076
512-844-8605 Electric Gas
Pedernales Electric – 888-554-4732 Atmos Energy: 800-460-3030 (choose option for new service)
Water/Sanitation Telephone
sToraGe Dripping Springs Water Supply Corp. – 512-585-7897 ATT: 800-464-7928
1-800-PACK RAT Gas Cable TV
800-PACK RAT (800-722-5728) Wimberley Gas Company- 872-847-9825 Cox Communications: 512-930-3085
www.1800packrat.com Telephone
Verizon Phone Company – 800-483-4000
ciTy of round rock
window wasHinG Cable TV
Time Warner Cable – 512-485-5555
Electric
ATX Window Washing TXU Energy: 800-242-9113
512-343-0001 Water/Sanitation
City of Round Rock: 512-218-5460
Gas
Atmos Energy: 800-460-3030 (choose option for new service)
Telephone
ATT: 800-464-7928
Cable TV
Time Warner Communications: 512-485-5555 / 800-418-8848
Phone: 51-40-0300 • Fax: 800-948-4045 • E-mail: info@goldwasserteam.com • www.GoldwasserTeam.com 11
12. Goldwasser Team real esTaTe
Keller Williams Realty
500 N. Capital of Texas Hwy. • Bldg. 5, Ste. 205 • Austin, TX 78746
512-420-0300 phone • 800-948-4045 fax
info@goldwasserteam.com
www .GoldwasserTeam .com