This document provides information about Koenig & Strey GMAC Real Estate, including its history, services, and processes for home buyers. Founded in 1961, Koenig & Strey GMAC Real Estate has grown to become one of the most successful real estate firms in the Chicago area through a tradition of service. It offers Premier Service to guide clients through the complex home buying or selling process, representing their interests as a trusted advisor, skilled negotiator, and expert facilitator. The document outlines the steps involved in buying a home, from defining priorities and getting pre-approved for a mortgage to making an offer, negotiating, and closing on a new home.

3. COMPANY HISTORY
A tradition of service has made Koenig & Strey GMAC Real Estate one of the
most successful real estate firms in the Chicago area.
Founded in 1961 by the Koenig and Strey
families, this company began a pattern of
growth and industry leadership that
continues to this day.
Joining GMAC Home Services in 1999,
enabled us to combine local expertise with
national resources which has helped us
continue that growth.

4. STRATEGICALLY LOCATED OFFICES Koenig & Strey GMAC is
dedicated to meeting the needs
of distinct market segments
throughout the Chicagoland area
with office locations in Chicago,
the North Shore, Lake County
and the western suburbs.

6. DELIVERING A HIGHER LEVEL OF SERVICE
94% Customer Satisfaction*
After thousands of completed surveys,
94% of our clients say they are satisfied or
very satisfied with our services.
The goal of our company and our Sales
Associates is to deliver a quality customer
service experience base on what our
buyers and sellers need and want.
GMAC Real Estate has more than
1,000 real estate offices with more
than 22,000 Sales Associates.
* Based on GMAC Real Estate 2008 Customer Satisfaction survey.

7. PREMIER SERVICE®
Premier Service® is an innovative way of doing business that sets us
apart from our competitors while giving you the value and attention
that you deserve.
The Process of Premier Service®
 Listen to your needs
 Establish clear expectations
 Commit in writing
 Deliver the service
 Solicit your feedback

8. MY ROLES
Trusted Advisor
As your trusted advisor, I will dedicate myself to helping you
reach your goals by lending my expertise in the industry.
Skilled Negotiator
As your skilled negotiator, I will work to get you the best price,
with the best terms, in the shortest period of time.
Expert Facilitator
As your expert facilitator, I will offer you outstanding customer
service, resources and tools to assist you.

9. THE PREMIER SERVICE® COMMITMENT
By signing this pledge, I am giving you my personal commitment to:
 Deliver a service experience
 Stay in touch
 Give you access to special programs
 Make myself available
 Deliver caring customer service
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11. BUYING YOUR HOME IS A COMPLEX PROCESS
Defining Your Housing Priorities
Agency Options
GMAC Real Estate Premier Service
Working with a Buyer’s Agent
Advantages of Working with a Buyer’s Agent
How Much Home Can You Afford?
Financing Your Home
The Mortgage Process
Estimated Buyer’s Costs
Documents Needed to Apply for a Mortgage
Finding Your Home
Factors Affecting the Price of a Home
Making the Offer
Negotiation to Contract
Closing the Transaction

12. DEFINING YOUR HOUSING PRIORITIES
We’ll help you define your housing
priorities by discussing your specific
needs, wants and desires. Then we’ll
create an organized plan and timeline
for your property search.

13. AGENCY OPTIONS
Buyer’s Agent
Will represent the buyer and only
the buyer’s best interest
throughout the transaction
Seller’s Agent
Will represent the seller and only
the seller’s best interest throughout
the transaction
Dual Agent
Will represent the buyer and
seller equally and ethically
throughout the transaction

14. WORKING WITH A BUYER’S AGENT
A buyer’s agent will:
• Listen to the home buyer’s needs
• Solely represent the home buyer’s interest
• Fully disclose all information about the transaction
• Actively work to assist the buyer in achieving the
best terms for the home purchase contract
• Keep home buyer’s confidences even after the
agency relationship ends

15. ADVANTAGES OF WORKING WITH A BUYER’S AGENT
By working with a buyer’s agent, you benefit from having a center point of
contact managing your home buying experience. You save time, gain resources
and have piece of mind that a professional is working toward your goals.

17. HOW MUCH HOME CAN YOU AFFORD?
Your Mortgage Payment
The amount of mortgage payment you can afford
may be determined by your monthly payments
on long-term debts.
The total of your monthly payments on long-
term debts PLUS your proposed mortgage
payments should not be more than 36% - 40% of
your gross monthly income. This percentage is
called your ratio. I will help you to determine
what mortgage payment will work for you.

18. FINANCING YOUR HOME
Pre-Qualification
• A lender can quickly pre-qualify you over the phone
• Have an estimated monthly payment calculated
• Know the price range to shop based on the loan size
Pre-Approval
• Pre-approval gives you more leverage in negotiating your home purchase
• Requires you to complete a formal application to the lender
• Requires you to submit all necessary documentation
• Once you are approved, you are cleared for a loan of a determined amount
• You can make your offer with confidence knowing you’re pre-approved!

19. THE MORTGAGE PROCESS
 Complete loan application
 Verification of financial, employment information
 Home appraisal ordered
 Good faith estimate of closing costs and truth in lending
disclosures
 Loan application evaluation
 Loan approval and letter of commitment
 Closing is scheduled
 Closing is held, signing of documents and funding of loan
 Disbursement of funds by lender
 Seller is paid and the home title is transferred to you
 Documents are recorded at the county office of records

20. ESTIMATED BUYER’S COST
Note: This estimate has been prepared to
assist the buyer in computing costs.
Lenders and other related services will vary
in their charges: therefore, these figures are
not and cannot be guaranteed by your
Koenig & Strey GMAC office or by any
Sales Associate.

21. DOCUMENTS NEEDED TO APPLY FOR A MORTGAGE
1 Two years W2’s and one month of pay stubs (if you are salaried)
2 Two years tax returns, a year-to-date profit & loss statement (if you are self employed)
3 Three months of statements for each bank, mutual fund, and investment account
4 A current statement from your stock, retirement, and/or 401K statement
5 If you own rental property, have two years tax returns & current rental agreements
6 A copy of your divorce decree (if applicable)
7 If you are not a citizen, provide a copy of the front and back of your Green Card
8 A copy of your Homeowners Insurance Declaration Page (for refinancing)
9 Current driver’s license, state ID card or passport

22. FINDING YOUR HOME

23. FINDING YOUR HOME
Property search
I will provide information and develop a
strategy to ensure that you are given the
opportunity to view and evaluate as many
relevant properties as possible.
Property showing
I will show you the properties that meet the
criteria you have selected, and only those
properties.
Property evaluation/disclosure
I will give you my expert opinion and advice
on each property viewed and disclose any
defects known to me.

24. EMAIL UPDATES
With our email update
program you have an
opportunity to be the first to
hear about a great property
that fits your needs.
•Receive email notices of new listings and price changes
•Search results includes detailed property information and photos
•Save up to 5 searches and receive email updates from each one
•Share your favorites with your family and friends

25. FACTORS AFFECTING THE PRICE OF A HOME
FACTORS AFFECTING THE PRICE OF A HOME
1 Asking price is the starting point from which to
negotiate the actual price of a home.
2 The second most important factor in the buyer’s
mind is location.
3 The structural and mechanical integrity, as well
as the upkeep and cosmetic appeal of a property
affect a home price.

26. FACTORS AFFECTING THE PRICE OF A HOME
4 Interest rates, competition, the economy and
consumer confidence.
5 The terms of a purchase can make or break
the contract.
6 When advertising exposure and positioning are
done correctly, a home will sell more quickly
and will command a higher price.

27. MAKING THE OFFER
Offer Preparation
I will prepare a written offer on
the property you choose to
purchase and include the terms
approved by you.
Offer Presentation
I will present your purchase offer
directly to the seller’s agent.

28. NEGOTIATING TO CONTRACT
In presenting your purchase offer, I will:
•Negotiate the best price and terms
•Report to you promptly on counter-proposals
or counter-offers

29. CLOSING THE TRANSACTION
Prepare for the closing
I will track the progress of the sale and keep you informed as to
your needs and responsibilities every step of the way.
Final walk-through
I will accompany you on your final walk-through prior to closing
and assist you with solving problems that may be discovered.
Closing the transaction
I will work with you to ensure that the required and appropriate
information is available.

31. COMPREHENSIVE REAL ESTATE SERVICES
Koenig & Strey GMAC Real Estate provides comprehensive real estate services.
 Mortgage
 Insurance
 Title
 Relocation
 Home Warranty

32. MORTGAGE SERVICES
Providing mortgage solutions throughout the Chicagoland area.
Loan officers are available onsite at
Koenig & Strey GMAC branch offices.
We work with over 30 investors with a
multitude of loan products, ensuring
that you get you the appropriate loan at
the best rate.
Loan officers will keep you informed of
your status throughout the entire loan
process.

33. FORT DEARBORN LAND TITLE COMPANY, LLC
“We Put Your Mind At Ease.”
Title insurance assures buyers and lenders
in a real estate transaction that the title to a
property is uncontested and free of
encumbrances.
 Prompt title searches
 Referrals to attorneys specializing in real estate
 Convenient closing locations, including the
Koenig & Strey GMAC offices

34. KOENIG & STREY INSURANCE AGENCY, LLC
“Experience Counts.”
Koenig & Strey Insurance has been a
trusted advisor to our real estate
clientele for over 30 years. We pride
ourselves on our excellent and our track
record of providing the best insurance
coverage to our clients.
 Full line of insurance
 Major carriers (including AAA, Atlantic Mutual,
CHUBB, Progressive, Metlife, Travelers and more)
 Competitive rates
 Exceptional service
 Local experience
 Free policy coverage & rate analysis

35. RELOCATION SERVICES
Providing customized relocation and real estate assistance for buyers and
sellers moving to and from the Chicagoland area.
 National and international reach
 Departure and destination services
 Access to Global Relocation Service