Buyer Orientation

Home Buyer Orientation Guide from Coldwell Banker Casa Bella

Below are a list of steps that can make the home buying process easier to understand.



Types of Agency Representation

Coldwell Banker Casa Bella RealtorsYou are listing your property with a company that has been through every type of market condition and has always come out on top. Our customer first philosophy is what has made us an industry leader over 100 years ago and has made us a global presence with over 100,000 Sales Associates in 47 countries and territories

It’s because of our professionalism and know-how that we are able to achieve on average a 10% higher transaction sale amount than the industry average.

The site generates over 390,000 consumer inquiries per month – that means consumers are coming to our site to look for properties and took action.

And based off of the Real Trends 500 Report, our agents made up 25% of the sales volume included, which is 76% higher than the nearest competitor.

  • Seller Representation – Occurs when a Broker/Agent represents only the seller through an Open, Exclusive, or Exclusive-Right-to-Sell contract.
  • Buyer Representation – Occurs when a Broker/Agent represents only the buyer in a real estate transaction.
  • Designated Representation – Occurs when a Broker/Agent sells an in-company listing (not their own).
  • Dual Representation – Occurs when a Broker/Agent represents both the buyer & the seller in a real estate transaction.


Getting Pre-Approved & FinancingGetting Pre-Approved & Financing

  1. Determining how much you can afford is the first step. Do you need lender recommendations?
  2. Rates change on a daily basis
  3. Pre-approvals usually expire after 2 months
  4. Approval Process:
    Documentation, Underwriting, Conditions, Appraisal

FHA Financing

All homes must meet certain condition requirements


Finding Properties

Finding PropertiesColdwell Banker tirelessly innovates and prides itself on being on the cutting edge of the real estate industry. We do everything possible to showcase your property more effectively.

Mobile use is on the rise, and so is the demand for consumers to have sites they can view from their phones. This is why Coldwell Banker customized our national site for mobile devices such as Blackberry and iPhone.

Another growing tool is the GPS device. Coldwell Banker, again, is the first to have it’s listings on GPS.

The Coldwell Banker brand is building a mobile application for the iPhone and Google Android phone that will allow customers to utilize GPS technology to search for recently sold homes in their area, homes for sale in their area or conduct a search.

To give your home maximum exposure, Coldwell Banker has a listing distribution strategy that automatically places your home on our national website, as well as sites such as Google, Yahoo! Real Estate and more. In 2008, these sites combined deliver 127 million visitors and sent 7 million visitors to!

Additionally, Coldwell Banker also created a widget that delivers your home information right a to a buyer’s desktop.

These facts are proof that we are always looking ahead to bring our customers the tools and services they want. And it’s a key part of our strategy to reach the most buyers for your property.

  • Sign-up to stay up-to-date on the latest listings, price reductions, and developments @
  • It’s a joint effort!
  • Search on my website or your favorite realty site
  • Open Houses, Walk-by. If you can’t make an open house, I am happy to walk you through. All the information is in the database, so I can look-up any questions you have.


Short Sales & Foreclosures

In 2009, Coldwell Banker yet again has added another innovative tool for Buyers and Sellers – Coldwell Banker On Location.

Located within YouTube, the #2 search engine worldwide, Coldwell Banker has created a video real estate channel that encompasses videos that subjects cover agent videos, office videos, video listings, community videos and smart tips and news related videos.

The channel’s was created in order to allow consumers a new way to search and interact with real estate and to drill deeper into local insights.

Consumers have the ability to do a traditional video search on the channel or to utilize the map that organizes videos based on the area it’s about. Coldwell Banker is also the first to offer dynamic IP lookup on the channel; This mean consumers will be served up videos about their specific area.

Short Sales

  •      -    What are they? “3rd Party Approval”, “bank approval”
  • As-is condition
  • 30-90 day response time from the bank typical


  •      -     What are they?
  • As-is condition
  • Varied response time, usually 48-72 hours


  • Liens
  • Delays (Paperwork, Title Work, Closing, HUD Statement)


Homes for SaleVisiting Properties

  1. I am available by appointment to tour properties.
  2. I encourage you to visit open houses. Give them my business card.
  3. 24-hour notice is ideal, but not always necessary.
  4. I will provide you with copies of the listings for information and note taking purposes
  5. If you are too busy to see a new listing that will sell quickly I can tour the property and send you a video (or Facetime).


Possible Out-of-Pocket Costs during the home buying process.Possible Out-of-Pocket Costs

Loan Application:

  • Credit Report ($15-$50)
  • Appraisal ($300-$500)

Home Inspections:

  • General Home Inspection ($400-$700)
  • Lead Paint Inspection ($350-$500)
  • Radon Inspection ($100-$250)
  • Termite Inspection (can be paid by seller or purchaser, $40-$70)

Closing Costs

  • Good estimate is 3.5-4% of sales price
  • Will be higher for FHA


All About Taxes during the home buying  processAll About Taxes

Homestead Deduction on Property Tax:

  • In New Jersey, only those aged 65 and over or Disabled persons are eligible for a homestead benefit
  • For specifics on the tax code, visit the NJ Division of Taxation site

Your mortgage interest is tax deductible!

  • How to calculate: (P+I) x 90 x Tax Bracket %

First Time Buyer Credit

  • First time buyer credit of $8,000 has expired
  • New Jersey does not offer a first time homebuyer credit at the state level


You Found It! Making An Offer

An important source of information for buyers is still a real estate professional like myself. But every year, the Internet and related new media, like mobile messaging, become more essential to the marketing process. So you want a company that knows how to use the Internet.

  1. 1) Need 3 things to make an offer:
    • Earnest Money Deposit
    • Pre-Approval Letter
    • Sales Contract
  2. Contingencies (Financing, Appraisal, Home Inspection)
  3. Home Inspection: P.E.A.C.H. Items (Plumbing, Electrical, Appliances, Cooling/Heating)
  4. ultiple Offers: YES they are happening! (Escalation Clause)
  5. Condo/HOA Documents (right of rescission)


Loose Ends Before Settlement

  • Hazard or Condo insurance is a must!
  • Set-up utilities
  • Pre-settlement inspection
  • Review the HUD-1 Statement, usually day before
  • Funds to close (certified check or wired directly to title company)



Home Buying SuccessThere can be last minute surprises (good and bad) on the day of settlement. I will be there to help make the entire process as easy as possible.

Settlement typical lasts about 1 to 1 ½ hours.

Don’t forget to bring:

  • Your funds to close
  • Photo identification
  • Personal checkbook