Congratulations! You've made the decision to buy a new home!
Once you've made your list, contact your local Coldwell Banker Gundaker Sales Associate to begin the home buying process. If you are not already working with a Coldwell Banker Gundaker Sales Associate, you can click on Sales Associate Search link on our home page. Be assured that by choosing a Coldwell Banker Gundaker Sales Associate you will find an educated, professional, experienced agent to offer you agency representation options and full service.
Your Sales Associate can put you in contact with Coldwell Banker Home Loans so you can be pre-approved for a mortgage even before starting the house hunting process. Although the pre-approval is not a final loan commitment, the pre-approval letter will demonstrate your financial strength and ability to go through with the purchase when you are ready to make an offer.
Your Sales Associate can provide detailed information on almost any property currently listed for sale. This includes Coldwell Banker Gundaker listings as well as all other real estate broker listings on the Multiple Listing Service. In addition, your sales associate can also provide information on homes that you see advertised for sale in the newspaper or online. This also includes information on properties that are advertised "For Sale by Owner." Your Coldwell Banker Gundaker Sales Associate is the only resource you'll need.
In addition, during this initial phase of your home search, you may wish to begin the process of selecting a local Real Estate attorney to represent you once you have an accepted offer on a home. If needed, your sales associate can provide you with a list of local attorneys that specialize in real estate.
The next step: you've found a home and you're ready to make an offer!
The initial step will be to instruct your Coldwell Banker Gundaker Sales Associate to make an offer. The paperwork process can vary. Please check with your Coldwell Banker Gundaker Sales Associate to determine the regional differences, as some areas use Offer to Purchase Forms and others use Fill-in-the-Blank Contracts for Sale.
Typically, you will provide your Sales Associate with the following information for them to relay to the seller's associate regarding the paperwork required in their marketplace:
- The amount you are willing to pay
- Mortgage amount
- Closing and occupancy dates
- Contingencies, such as obtaining a mortgage, building inspections, and pest inspections to include where appropriate (but not limited to): termite, pest, radon, water potability, well, lead, septic, oil tank, etc.
Any personal property specifically included or excluded if the offer is not acceptable to the seller, further negotiations may be necessary to reach terms agreeable to both buyer and seller. Because counter-offers are common (any change in the offer can be considered a counter-offer) it is important that you remain in close contact with your Coldwell Banker Gundaker Sales Associate during the negotiation process so that proposed changes can be reviewed and responded to quickly.
You have an Acceptable Offer!
Since the Contract writing procedure, down payments required, building inspection contingency dates, etc. varies, please consult with your Sales Associate so that they can inform you of the immediate action steps. Timing is critical at this stage!
What to expect at the closing
The closing is a formal process where all parties sign all of the necessary paperwork needed to complete the transaction Title so the property is transferred from the seller to you. The seller receives payment for the home, and you receive the house keys! From the amount credited to the seller, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed, and ultimately filed with local property record office.
After the closing
At closing and beyond, we're here to assist you with all the details as you move into your new home.