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Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates, not employees. ©2019 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.

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BUYER'S PURCHASE WORKFLOW

  • Consultation

    • Discuss reasons for buying

    • Set up time frame for desired move-in date

    • Discuss desired property type, location, condition and price

    • Establish your Purchase Criteria Priorities

    • Discuss financial pre-qualification/pre-approval

  • Set Up Home Search

    • Plug in search parameters into proprietary MLS search program

    • Capture and sort through all standing inventory

    • Set up instant notification for all new matching properties

    • Set up a showing schedule to view saved properties in person

  • Pre-Offer Preparation

    • Obtain Pre-approval from a qualified lender

    • Prepare copies of all Bank Statements indicating Proof of Funds

    • Ensure 3% Earnest Money Deposit funds are immediately available

    • Prepare a "warm and fuzzy" letter

  • Offer Preparation

    • Discuss the comparable sales and market analysis of the subject property

    • Research the property's history

      • Length of time on market​

      • Existing offer count/terms

      • Tax and mortgage history

      • Previous listings of the subject property

    • Research any Offer submission criteria​

      • Offer deadlines​

      • Requested specific contractual terms from Sellers

  • Submitting your Offer to Purchase

    • Submit all pertinent financial documents

    • Submit Residential Purchase Agreement and any initial Addenda or Disclosures

    • Submit "Warm and Fuzzy" Letter

    • Opt for a Live Presentation of offer whenever possible

    • Follow up with Listing Agent to confirm receipt

    • Follow up with Listing Agent as to status of any Counter Offers

    • Consult on any Counter Offer received back from Sellers

    • Resubmit your Counter Offer if applicable

    • Ratify Purchase Agreement

  • Open Escrow & Navigate Transaction

    • Submit all Ratified Contract documents to your Lender in order to begin the Loan Approval Process

      • Request your Lender to order the appraisal​

    • Deliver your Earnest Money Deposit (Good Faith Deposit) into Escrow within 3 business days after initial consultation regarding Wire Fraud

    • Request copy of Buyers Escrow opening package

      • Review Preliminary Title report with you and Title Rep​

    • Request statutory disclosures such as the Natural Hazard Disclosures, Transfer Disclosure, Seller Property Questionnaire, Earthquake Hazard Report (if applicable), and any municipal required point-of-sale reports

      • Review all disclosures with you and answer any questions 

    • Facilitate entrance to property for purposes of any and all inspections you wish to undertake

      • General Home Inspection, Termite, Sewer Line, Chimney, Geologic, Lead, Roof, etc...

      • Review with you all inspections along with the proper professionals

      • Asses overall condition of property and determine necessity for any repairs / credits / or reductions in the offer price to compensate

    • Dummy-check for receipts and acknowledgment of all pertinent transaction disclosures and addenda

    • Meet with your appraiser to deliver comparable sale information for the area to help justify your purchase price

    • Consult with you the gravity of releasing your contingencies

    • Follow up with Lender to make sure that the Closing Disclosures are delivered on time and that the Loan Docs will be delivered to Escrow with enough time to sign, fund, and record

    • Follow up with Escrow to set up time and place for Loan Doc signing

    • Follow up with you and lender to make sure that all closing funds have been wired into escrow to prepare for funding

    • Follow up with Recording of the Sale with Title Rep and Escrow

  • Close of Escrow and beyond

    • Have escrow deliver closing package and documentation to you

    • Arrange for delivery of keys

    • Help set up transfer of utilities