buying guide
the cbh difference
Thank you for the opportunity to advise and serve you in the purchase of your home. Since 1887, we’ve been helping families in Eastern Iowa through this emotional process. As a local family-owned company, we value the strong personal and business relationships that we have with our clients.
With innovative marketing, first to market technology, and a commitment to excellence, we have served thousands of individuals, families, businesses and investors with their real estate needs. We continue to invest and improve to make your real estate transaction as smooth and easy as possible.
Through the ever-changing real estate landscape, we’re still a family-owned company with family-first values. We look forward to welcoming you to the Coldwell Banker Hedges Realty family and guiding you home.
mike esker, president
cbh locally owned. nationally known.
Cares
We are so incredibly grateful to have the opportunity, the ability, and the privilege to give back to our communities.
We support many different programs through a spectrum of annual events, community engagements and support initiatives.
CBH does more than just sell houses. We serve, support and love the communities in which we live.
YOUR HOME BUYING NEEDS
ARE ONE OF A KIND
Buying a home is one of life’s biggest investments and most exciting adventures. As your Coldwell Banker Hedges Realty Agent, I will be your partner in the process, guiding you along the way to make your experience smooth and successful.
This home buyer guide includes helpful information to get you started:
• Your Partner in the Process
• Your Home Search
• Full Service
Buyer Agreement
• Establishes our collaborative working relationship
• Explains how the buyer brokerage compensation is paid
What to expect with a Coldwell Banker Hedges Realty Agent
When you choose me as your agent, you’ll have someone by your side every step of the way, giving you the insights and information you need to have confidence in your decision.
I will:
• Act with loyalty, respect, disclosure and confidentiality
• Meet with you to discuss your needs and goals and plan your property search
• Help you get pre-approved for a mortgage and establish your budget
• Show you properties that meet your criteria
• Keep you informed of new properties that come on the market
• Work with you until you find the right home
• Help you determine your offer
• Negotiate the offer and contract in your best interests
• Facilitate the home inspection and resolution process
• Prepare you for closing and the associated costs
• Keep you updated on the progress of your transaction
• Be a liaison between you and other professionals involved with your purchase
Why Pre-Approval Matters
The first step in any home search is finding out exactly how much home you can afford and securing the necessary financing to make the purchase. Taking the extra step to get a pre-approval will give you an advantage.
Pre-approval helps you:
• Understand your financial condition
• Know exactly how much home you can afford before you begin your home search
• Strengthen your purchasing power when making an offer
Things to consider:
• Monthly mortgage payment
• Homeowner’s insurance
• Property taxes
• Private Mortgage Insurance (PMI)
searching for your home
Congratulations on getting pre-approved for a mortgage! Now that you have a clear idea of your budget, it’s time to start looking for your dream home. When searching for a house, there are a few important things to consider. Location is key –consider the neighborhoods and their proximity to work, school and amenities. Think about the size and style of the home, as well as any must-have features, such as a backyard or a specific number of bedrooms. Once we find a house you’re interested in, as your Real Estate Agent I will help you make an offer.
making an offer
There are many factors to consider when writing an offer on a home. I will give you the insight and information you need to make an offer you’re comfortable with. Some of the factors to consider include:
• How long the home has been on the market
• If the price has been reduced
• How much the home is worth - a comparable market analysis (CMA) may be necessary to determine the current value of the home
• If there are multiple offers
• Your downpayment amount
• Amount of earnest money
• Desired closing date
• Your personal situation
Once the offer is written, I will present it to the seller’s agent. At that point the seller can accept your offer, reject it or counter it to start the negotiation process. I will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricing for you and your budget.
Closing on your home
Once your offer has been accepted, the closing process begins. Here are some of the typical steps involved:
Home inspection - It’s common for real estate transactions to be contingent on the results of a home inspection, which is paid for by the buyer. The inspection typically occurs within 10 business days of offer acceptance and includes a review of the home’s interior & exterior elements as well as the major systems (roof, siding, fixtures, appliances, heating, cooling, plumbing, electrical, etc). The purpose of the home inspection is to discover any major structural, mechanical, health or safety related items with the home, so you’re aware of what you’re purchasing.
Appraisal - As a standard part of the mortgage process, your lender will order an appraisal report to ensure that the loan will be guaranteed by the home’s value.
Title search - This is a historical review of all legal documents relating to ownership of the property and to ensure that there are no claims against the title of the property, the seller or the buyer.
Final walkthrough - If it’s requested in the contract, you will be given the chance to look at the home right before closing to make sure it is in the same condition as when you signed the Purchase Contract.
Closing - You will meet with your lender or escrow company to sign mortgage and closing documents and receive the keys to your new home.
Your Home Search
home preferences
The more I know about the type of home you want, the better. Take a minute to think about the features your new home must have, as well as what you would ideally like it to have, so we can talk it over.
Style
Pool
Comments
Buyer interview
• Sign Buyer Agreement (buyer/agent)
• Review the buying process (buyer/agent)
• What type of property are you looking for?
Pre-approval
• Choose a lender (buyer)
• Obtain pre-approval letter (buyer)
find the right home
accepted?
• If Yes - keep moving forward in the buying process
• If No - continue negotiations with counter offer(s) or continue home search
inspections
• If agreed upon in the Purchase Contract, inspections will commence (buyer expense)
• Look at properties for sale (buyer/agent) make an offer
underwriting
• Complete Purchase Contract (buyer/agent)
• Signatures can be in person or electronic
• Earnest money submitted upon acceptance of offer (electronic or check)
• Closing documents prepared (Premier Escrow & buyer’s lender) final walkthrough
• Is everything in the same condition as it was when you signed the Purchase Contract? (buyer/agent)
5408 Blairs Forest Way NE Cedar Rapids, IA 52402 319-378-8760
5414 Blairs Forest Way NE Cedar Rapids, IA 52402 319-731-2000
2200 1st Ave NE Cedar Rapids, IA 52402 319-364-8121