Buyer’s Guide
Wine Country
Owning a Home in Wine Country
Wine Country is one of the most diverse and unique real estate markets in the world, and we understand that making the decision to buy a home here can be a particularly involved experience. From mastering the standard vs engineered septic system, to having the resources to get the entire picture of a rural estate. Ranging from surveys, vineyard assessment, preliminary estate layout and design, budgeting and estimates, we have the connections to make sure you understand every aspect of the property.
How to Buy a Home
Wine Country
1 Find an Agent
Look for a licensed real estate agent who is knowledgeable about the neighborhoods you’re considering and can help guide your search.
2
Get Pre-Approved
Before beginning your search, your first step is to complete the preapproval process with a Mortgage Lender (unless you will be paying all cash for your home). We can connect you to a Lender, or you may select a Lender of your choice. Based on your income, credit history and various documentation requested of you by the lender, they will determine how much you are pre-approved to purchase.
3 Visit Properties
Attend viewings and open houses spanning a range of areas and property types. Now is the time to consider your ideal location and amenities.
4
Preparing an Offer
Once you have selected the home you’d like to buy, We will research the history of the property and prepare a Comparative Market Analysis (CMA) that we will review together. This will enable you to make a well-informed decision about your offer. Your offer will outline the terms under which you will buy the home.
5 Negotiate
Once your offer has been reviewed by the Seller, he or she may choose to do one of three: 1) Accept the offer as-is.
2) Counter the offer. 3) Reject the offer. Should the Seller counter your offer, you can choose to accept, reject or make your own counter offer.
6 Review Contract and Disclosure Package
Analyze the contract of sale, disclosures and other documents with your attorney and/or agent. Your attorney and/or agent’s job is vital to protecting your interests and understanding the disclosure package.
7 Submit Formal Offer
Work with your agent to submit your final offer which includes contract and disclosure package.
8 Seller Approves the Purchase
Once price is agreed upon and the seller approves your offer, you are one step closer to becoming a home owner!
9
Final Walk Through
A final walk-through ensures that the property’s condition hasn’t changes since your last visit and that the terms of your contract will be met.
10
Closing of Escrow
Congratulations you’re a new homeowner!
Appraisal
Assessment of the property’s market value, typically done for the purpose of obtaining a mortgage.
Common charge
Monthly maintenance fee paid by condo owners. Property taxes are not included in the common charge.
Contract deposit
A percentage of the agreed-upon purchase price paid by the buyer at the time of signing the contract.
Co-op shareholder
Owner of a co-op unit, since what they are actually purchasing are shares of stock in the co-op corporation.
Debt-to-income ratio
The percentage of an individual’s monthly gross income relative to the amount of debt owed.
Escrow deposit
Deposit of funds to be transferred upon completion of the deal.
Financial statement
A formal record of all your financial assets, debts, and liabilities.
Flip tax
A tax levied by a co-op and paid by the seller when a sale is made. They are designed to generate funds for the coop’s cash reserve.
Maintenance fee
Fees paid by co-op shareholders that contribute to building operations.
Lien search
A background check on the property and the seller to ensure there are no outstanding debts or claims upon the property.
Post-closing
The amount of cash the buyer must have on hand after deducting the downpayment and closing costs.
Pre-approved
Advanced approval from a bank or other lending institution for a home mortgage.
Pre-qualified
Potential buyers provide an overall financial picture and mortgage brokers provide an estimate of what level of loan you will likely be pre-approved for.
Recording fee
A fee paid to the local government to officially report a sale of a home; usually paid by the buyer.
Tax abatement
Newly constructed buildings sometimes receive abatements so that owners do not have to pay taxes on their units for a specified amount of time.
Sponsor The entity responsible for developing a new building or converting an existing rental building to condo/co-op.
The benefits of working with a team.
At the Wine Country Colbert team, we believe in making the impossible possible when it comes to selling your home or finding a new one. We have embraced a high-tech, high-touch solution to the search and sell process, pairing the industry’s finest technology with unparalleled support, insight, and analysis. With integrity, honesty, and trust as the cornerstones of our brand, we value the relationships we build along the way with the friends who consistently trust us with some of the biggest decisions of their lives.
Peter Colbert
415.798.0203
DRE 01703429
peter@winecountrycolbert.com
Peter Colbert is in the top 1% of all North Bay agents in sales per year selling over $200 million dollars’ worth of Wine Country properties over the past four years.
Angela Fallon
707.536.7338
DRE 02122832
angela@winecountrycolbert.com
Angela worked as a home stager servicing high end real estate throughout the Bay Area prior to becming a real esrare agent. She can offer design consultation for both buyers and sellers.
Jill Peterson
707.484.1029
DRE 02108986
jill@winecountrycolbert.com
Jill is passionate about Sonoma County and feels it is her duty to give back to the community that has provided her with so much throughout her life.
Mark Altes
707.235.3249
DRE 01719069
mark@altesrealestate.com
By working side by side with his clients, Mark is able to help them make the best decisions for all of their Real Estate transactions, based on market data and past experience with Real Estate.
Heather Arnerich
925.899.0504
heather@winecountrycolbert.com
Heather Arnerich is the motivated and driven Assistant/Transaction Coordinator for the Wine Country Colbert Group. Heather is a part of the Selling & Buying process every step of the way.
Juliana Snorek
925.758.3629
DRE 02105840
juliana@winecountrycolbert.com
Juliana has spent the last 9 years excelling in the hospitality industry. She is excited to help those both new and familiar to Sonoma & Napa County find their dream home.
Wine Country Colbert Group 707.235.3249 DRE 01703429 mark@altesrealestate.com winecountrycolbert.com At Compass, we are empowered with data-driven technology, revolutionizing the home buying experience. Since launching in 2013, Compass has assembled a robust team of experts— engineers, analysts, strategists, and marketers—to simplify and enlighten the real estate process.
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