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Best Buyer Real Estate Guidebook

Best Buyer Real Estate Guidebook

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  • 1. Coldwell Banker ® Homebuyer Guidebook Finding & Financing a Home Made Simple © 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.
  • 2. Buying Your New Home. Congratulations! When using a Coldwell Banker® Sales Associate, you will feel confident your search for a new home will be very successful. Let’s get started!
  • 3. Steps to Get Started
      • Determine your budget and how much you can afford.
      • Get pre-approved for a mortgage.
        • When applying, you’ll most likely need to furnish:
            • Two most recent pay stubs.
            • W-2 forms for the past two years.
            • Federal tax returns for the past two years.
            • Last two months bank statements.
            • Long-term debt information such as credit cards, auto loans etc.
  • 4. Getting Approved
      • A lender will check your credit to see if you’re a good candidate for a loan.
      • If your credit rating is poor, there are things you can do to improve it.
            • Make sure the report is correct. If not, call to fix it.
            • Begin to pay your bills on time.
            • Use two to four credit cards so you can keep track of them.
            • Keep a separate checking and savings account.
            • Keep the same job for a few years.
  • 5. Pre-Approved vs. Pre-Qualified
      • Pre-Approved : confirmation the lender will give you a commitment to support your purchase.
      • Pre-Qualified : an estimate of what you can afford.
      • Being pre-approved makes you a more attractive candidate to the seller when making an offer.
  • 6. Deciding On A Mortgage
      • Fixed Rate Mortgage : the interest rate stays the same for the entire term of the loan.
      • Adjustable Rate Mortgage: the interest rate is linked to a financial index and may fluctuate with market conditions. As such, payments may vary over the life of the loan.
  • 7. Calculating Your Budget
      • To estimate your budget, add up your total financial worth and then subtract all the cost in the purchase.
      • Some expenses you may carry:
            • Down payment
            • Mortgage
            • Insurance
            • Taxes
            • Points
            • Attorney’s fees
  • 8. The Fun Begins
      • Before you search for your dream home, some things you should consider:
            • Size of property
            • Type of neighborhood you desire
            • Quality of school system
            • Nearby public transportation
            • Urban or suburban
  • 9. Multiple Listings Open Houses & Special Features
      • As your Coldwell Banker ® Sales Associate, I can show you every home available on the market that meets your specific needs.
  • 10. Online Access
      • coldwellbanker.com provides access to over 600,000 properties. You can also find our properties on your smartphone!
      • A few unique features include …
  • 11. Online Access
    • The Personal Retriever®: this convenient helper will search for a home even when you don’t have time to. Be alerted when new properties come on the market that meet your needs.
    • The Learn Section: this provides helpful articles, tips and tools for buyers such as guidelines for inspections and home maintenance costs.
    • Neighborhood Information: you’ll learn about the details of any neighborhood that interests you
  • 12. Writing the Offer
      • Once you’ve found the perfect home, I will write up the offer and ensure all paperwork and activities are completed so you can close on your property.
  • 13. The Closing
      • This is the meeting where the transaction is finalized. I will guide you through all closing procedures to make your home officially yours.
  • 14. Thank You