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H O M E

B U Y E R S

G U I D E


We are a community of Real Estate Professionals dedicated to making a difference with integrity, innovation, care and excellence.


THE BUYING PROCESS 1

2

3

CHOOSE A DI LB ECK SALES A S S O C I AT E

HOW M UCH H O M E CAN YO U AFFORD

C R E AT E YO U R WI S H LIST


4

5

6

F I N D YO U R HOME

MAKE AN OFFER

ESCROW & C LO S I N G


1

CHOOSE A DI LB ECK S A L E S A S S O C I AT E

O u r S a l e s A s s o c i a t e s Ta k e T h e i r R o l e o f Tr u s t e d A d v i s o r , E x p e r t N e g o t i a t o r a n d S k i l l e d F a c i l i t a t o r S e r i o u s l y. The Dilbeck Real Estate Platinum Advantage™ is an innovative way of doing business that sets our Sales Associates apart from our competitors. Our Platinum Advantage™ training gives our Sales Associates the expertise that enables them to deliver the highest level of service to ensure not only the success of your real estate transaction, but also the quality of your experience. A s Yo u r T r u s t e d A d v i s o r , Yo u r S a l e s A s s o c i a t e w i l l u s e t h e i r s p e c i a l i z e d knowledge and training to help you navigate the complex home buying and selling process.

They will listen to your goals, and recommend the right

resources to help you reach them. A s Yo u r E x p e r t N e g o t i a t o r , Yo u r S a l e s A s s o c i a t e w i l l e f f e c t i v e l y m a n a g e the buying and selling process to help you achieve your goals. They will be committed to assisting you in getting the best possible price, with the most favorable terms, in the shortest period of time. A s Yo u r S k i l l e d F a c i l i t a t o r , Yo u r S a l e s A s s o c i a t e w i l l w o r k t o p u t s a l e s together that stay together. They will provide outstanding customer service, personal expertise and a range of quality real estate resources. Buyer Representation Agreement A Buyer Representation Agreement outlines the duties and requirements of your Sales Associate, and serves as the cornerstone of our relationship and marks the official beginning of the buying process. A Buyer Representation Agreement reaffirms the agents commitment as your fiduciary to act as your Tr u s t e d A d v i s o r , E x p e r t N e g o t i a t o r a n d S k i l l e d F a c i l i t a t o r u n d e r o u r e x c l u s i v e Platinum Advantage Program.


2

HOW M UCH HOM E CAN YO U AF FO R D

Pre-Approval While many Buyers are Pre- Qualified, Pre-Approval gives you more leverage in the negotiating process. Mortgage Pre-Approval requires completing a formal application to the lender, and submission of all the necessary financial and employment documentation. This information will then be thoroughly evaluated and verified by the lender’s underwriters. With final approval, you will be cleared for a loan of a determined amount. Pre-Approval can give you a preferred position in negotiating and add validity to written offers.

WE WOR K WITH TH E B EST Our affiliated mortgage businesses:

Š 2 0 1 8 P a r t n e r s U n i t e d F i n a n c i a l , L LC . A l l R i g h t s R e s e r v e d . T h i s c o m m u n i c a t i o n d o e s n o t c o n s t i t u t e a c o m m i t m e n t to lend or the guarantee of a specified interest rate. All loan programs and availability of cash proceeds are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change w i t h o u t n o t i c e . O t h e r r e s t r i c t i o n s a p p l y. P a r t n e r s U n i t e d F i n a n c i a l , L LC , 2 5 0 E Wi l s o n B r i d g e R o a d , S u i t e 1 1 0 , Wo r t h i n g t o n , O H 4 3 0 8 5 . C o r p N M LS # : 1 5 0 8 6 1 9 ( w w w. n m l s c o n s u m e r a c c e s s . o r g ) . L i c e n s e d b y t h e D e p a r t m e n t of Business Oversight under the California Residential Mortgage Lending Act. Additional licenses available at www.partnersunitedfinancial.com


3

C R E AT E Y O U R WISH LIST

It’s important to establish your dream home wish list early in your search. Yo u r D i l b e c k S a l e s A s s o c i a t e w i l l h e l p y o u a n s w e r t h e i m p o r t a n t q u e s t i o n s that will shape your house hunt, and have a tremendous impact on the success of your search. Important questions to consider when creating your wish list are: space and r o o m n e e d s , s p e c i a l a c c o m m o d a t i o n s o r r e q u i r e m e n t s f o r y o u r s e l f o r f a m i l y, neighborhood preferences, type and style of home, preferred outdoor space, daily

commute

time,

school

district,

key

home

features,

and

remodeling

considerations. O n c e y o u r w i s h l i s t h a s b e e n f i r m l y e s t a b l i s h e d , i t ’ s t i m e t o p r i o r i t i z e . Yo u r Dilbeck Sales Associate will help you put your dreams in order. The ultimate goal is not to compromise on your home search, but prioritizing your wish list can help identify those key features you can’t live without.


4

F I N D YO U R H O M E

Finding a home has always been a personal process, but lately it has largely become a digital one as well. Through our website, Dilbeck.com, your Dilbeck Sales Associate is armed with the latest tools designed to maximize your search. Search Capabilities: O u r p r o p e r t y s e a r c h i s p o w e r f u l a n d s i m p l e . Yo u c a n s e a r c h b y s c h o o l d i s t r i c t , n e i g h b o r h o o d , zip code, custom-drawn maps and more! The results are in a comprehensive list or tile l a y o u t w i t h a f u l l y i n t e r a c t i v e m a p d i s p l a y. The Mobile Experience: As more of our world moves to mobile, it is more important than ever that you can access the information you need, wherever you need it. Desktop is still where we grew our roots, but our website is designed with full mobile capabilities in mind. Our responsive layout will change to suit any phone, tablet, laptop, or desktop so you don’t have to sacrifice functionality for convenience. Detailed Area Profiles: Our area profile pages are information-rich where you can find anything from average home prices in the area to local attractions and popular activities. These pages will be y o u r g u i d e t o l e a r n i n g a b o u t y o u r n e x t n e i g h b o r h o o d ! Yo u ’ l l a l s o b e a b l e t o e a s i l y s e e the property for sale in that neighborhood without having to leave the page! Market Statistics: Information is a key element to staying competitive in an evolving real estate market. Our Dilbeck Sales Associates offer detailed market reports for all of the areas they serve. Yo u w i l l b e a r m e d w i t h v a l u a b l e i n f o r m a t i o n a n d t r e n d s s u c h a s a v e r a g e h o m e p r i c e , average days on market and average price per square foot to name only a few! With one click, a user can subscribe to the reports they care about and have them delivered in t h e i r i n b o x d a i l y, w e e k l y, q u a r t e r l y o r y e a r l y. Wh a t e v e r s u i t s y o u r n e e d s a n d t i m e f r a m e . Get to Know the Neighborhood: Don’t stop at inspecting property and searching for home features! As you consider your purchase, examine the surrounding area. Neighborhood factors can have a huge impact of future resale value and current pricing or your prospective home. Tr y a s k i n g s o m e d e t a i l e d q u e s t i o n s o f f r i e n d s , f a m i l y , c o w o r k e r s , a n d o f c o u r s e y o u r Dilbeck Sales Associate. •

Is it safe and well maintained?

Is it a convenient location for you?

Close to schools, shopping and work?

A s k a b o u t t h e z o n i n g l a w s a n d a n y v a c a n t p r o p e r t y l o c a t e d n e a r b y.

Is the city or county considering widening the street in a couple of years?

Is there a railroad crossing within hearing distance?


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MAKE AN OFFER

W H AT T O E X P E C T W H E N B U Y I N G A PROPE RTY I N SOUTH E R N CALI FOR N IA When you’re ready to make a bid on a selected residential or residential i n c o m e p r o p e r t y, p l e a s e l e t y o u r S a l e s A s s o c i a t e k n o w a n d t h e y w i l l p r e p a r e the paperwork. The following are items and necessary information that should accompany the purchase offer: Good faith deposit is due within 3 days of acceptance in the form of an electronic wire funds transfer or may be delivered directly to Escrow:

3%

of purchase price is standard; only when Escrow opens will it be deposited to the Escrow trust account. Letter of pre-approval: It should be written on the lender’s letterhead with loan officer contact information, your qualified loan amount, loan program and median FICO score. Some lenders may not release your FICO score; in this case, it is very important that we have the loan officer’s phone number so that we could verify validity of your loan pre-approval. Proof of Funds: It makes a big difference when the Seller sees that your down payment and closing fees are supported by some documentation.

It

may be in the form of bank account statements, a gift letter with supporting source of funds, or any acceptable (to the lender) documentation that shows where your funds are coming from. It is advisable to blot out your account numbers for security purposes. Close of Escrow: The number of days prior to closing is important. Are you willing to close in 30, 45 or 60 days? Please take into consideration when it will be feasible for you to make the physical move from your current r e s i d e n c e t o t h e n e w p r o p e r t y. Financing Structure: The contract will ask how much down payment and approximate terms (interest rate, points, loan term) you have been preapproved for. This will have to be identified on the first page of the contract.


AFTE R OFFE R I S ACCE PTE D The following events have to happen accordingly: P h y s i c a l I n s p e c t i o n : Yo u a n d y o u r S a l e s A s s o c i a t e w i l l b e t h e r e w i t h y o u r physical inspector of choice. Buyer pays for the inspection fee and it ranges from $300-$800 or more depending on the size of the home. Residential income property is based on the number of units in the complex and will v a r y . Yo u m a y c h o o s e t o h a v e a d d i t i o n a l i n s p e c t i o n s d e p e n d i n g o n t h e condition and location of the property; these will be at an additional fee. The result of the inspections will introduce you to the property details and the inspector will point out any concerns or details of the property that may need attention. Though the Seller is not obligated to replace or repair anything, you may divulge to the Seller any concern you may have. A p p r a i s a l : Yo u r l e n d e r c o o r d i n a t e s t h i s w i t h t h e i r o w n a p p r o v e d a p p r a i s e r . Ask your lender for the appraisal fee. Review of all disclosures and mandatory reports: Usually within 7 days the Seller will forward all the disclosures for your review and approval. For residential income properties Estoppels Certificates may be included if you requested these in your purchase agreement. Please take the time to go through and understand each disclosure and report. Removal

of

contingencies:

This

event

depends

on

the

contingencies

specified in the contract and the time frames that have been agreed upon by both parties. Ve r i f i c a t i o n o f p r o p e r t y c o n d i t i o n : T h e B u y e r h a s t h e o p p o r t u n i t y t o c o n d u c t a final walk through of the property prior to close Escrow. Important

Note:

There

are

time

frames

and

contingency

removal

periods

involved in these events and each mutually agreed upon contract should have these specified. the transaction.

I will point these out to you and monitor them closely during


6

E S C R O W & C LO S I N G

Once an offer has been accepted and signed by all parties you begin the Escrow p r o c e s s . G e n e r a l l y, d a y o n e o f a l l c o n t i n g e n c i e s b e g i n s t h e d a y a f t e r a l l t h e parties

have

signed

the

contract.

Yo u r

Sales

Associate

will

make

sure

the

contract is delivered to an independent third party Escrow company negotiated in the contract as soon as possible. Buyers will start their inspections and review of all disclosures from the Sellers within the time frames specified in the contract. Along with your Dilbeck Sales Associate you will be reviewing and coordinating the following items that the Escrow company will complete or provide throughout the life of an Escrow. The Escrow company will do the following once they have received the completed contract: • Assign an Escrow Number to your file • Send Wire Information to you; please be sure to touch base with the Escrow Company directly on the phone before sending any money to Escrow • Order a Preliminary Title Report and pass along to all parties • Prepare Escrow Instructions and Opening Package • Request signatures and pertinent information from both the Buyer and Seller • Communicate with Buyer’s lender and send requested documents to lender • Assist in processing any Escrow conditions related to the Buyer’s new loan • Review Preliminary Title Report and address any issues on title • Prepare Estimated Closing Statement for Buyer’s lender • Forward any Escrow Conditions to Buyer’s lender • Order a Payoff Statement for Seller’s loans and or liens (if any) • Check status of Loan Documents with Buyer’s lender • Order fire insurance, audit Escrow file, verify all reports/inspections have been r e c e i v e d a n d a c k n o w l e d g e d b y a p p r o p r i a t e p a r t i e s . ( Te r m i t e , N H D , P r e l i m i n a r y Title Report, and City Inspections (if any)


• Review Closing Disclosure issued by Buyer’s lender • Receive Loan Documents from Buyer’s lender • Prepare Buyer’s and Seller’s Estimate Closing Statements • Arrange for signing of Loan Documents for Buyer • Return Loan Documents to Buyer’s lender • Forward Recordable Documents to Title Company • Request funds from Buyer, again, please be sure to call the Escrow company or meet with them face to face before sending any wires to Escrow • Request loan funds from lender • Buyer’s lender will fund the loan once all loan conditions have been meet • Request Title Company to record file on the next business day • Final audit of file; Close Escrow once recorded, prepare final statements for all parties and disburse funds • Forward final documents to all parties. (Buyer, Seller, Lender, Real Estate Agents)

WE WOR K WITH TH E B EST Our affiliated Escrow and Title businesses:

Orange Coast Title of Southern California

Yo u a r e n o t r e q u i r e d t o u s e O r a n g e C o a s t T i t l e C o m p a n y o f C a l i f o r n i a o r I n t e r V a l l e y E s c r o w a s a c o n d i t i o n f o r t h e p u r c h a s e , s a l e , l e a s e o r r e f i n a n c e o f t h e s u b j e c t p r o p e r t y . T H E R E A R E F R E Q U E N T LY O T H E R S E T T L E M E N T S E R V I C E P R O V I D E R S A V A I L A B L E W I T H S I M I L A R C H A R G E S . Y O U A R E F R E E T O S H O P A R O U N D T O D E T E R M I N E T H AT Y O U A R E R E C E I V I N G T H E B E S T S E R V I C E S A N D T H E B E S T R AT E F O R T H E S E S E R V I C E S . N e i t h e r D i l b e c k R e a l E s t a t e nor its Sales Associates warrant or guarantee the work or services of these or any other service providers.


E S C R O W & C LO S I N G Buyer’s Closing Costs: The Buyer can generally be expected to pay for: • I n s p e c t i o n F e e s i n c l u d e a r e n o t l i m i t e d t o H o m e I n s p e c t i o n , Te r m i t e I n s p e c t i o n , Geological Inspection, Sewer Inspection, Chimney Inspection and more if prudent. • T i t l e I n s u r a n c e A LTA p r e m i u m s a n d s u b - E s c r o w f e e s i f t h e r e i s a l o a n • Escrow Company’s Fee • Loan Document or other needed document preparation fees • Notary Fees • Recording charges for all documents in Buyer’s name • Escrow Loan Tie-In Fee • Ta x p r o r a t i o n s • All loan charges/fees for Buyer’s Loan • Fire Insurance for first year • H o m e Wa r r a n t y i f r e q u i r e d p e r c o n t r a c t • Other negotiated items in contract

Keys and Possession: Buyers’ typically get a set of keys around 6pm on the day of recording AKA as Close of Escrow. There are many exceptions to this rule but your Dilbeck Sales Associate will explain those at the time of signing the initial contract. Yo u r D i l b e c k S a l e s A s s o c i a t e w i l l a r r a n g e t h e p i c k u p o f k e y s , a n d i f a t a l l p o s s i b l e meet you at your new home. Yo u r D i l b e c k S a l e s A s s o c i a t e i s t h e r e t o a n s w e r a n y q u e s t i o n s a n d f o l l o w u p w i t h a n y items that may not have been completed prior to the close of Escrow. We l c o m e t o t h e D i l b e c k F a m i l y o f s a t i s f i e d H o m e o w n e r s .


Ray Dilbeck

Mark Dilbeck

Founder Dilbeck & Associates

President Dilbeck Real Estate


G E N E R AT I O N S O F T R U S T F O R G E N E R AT I O N S T O C O M E N e a r l y 70 y e a r s o f e x c e l l e n c e . S i n c e 1 9 5 0 , D i l b e c k R e a l E s t a t e , a l o c a l a n d f a m i l y - o w n e d c o m p a n y, h a s e n j o y e d helping friends, neighbors and families create new beginnings and lasting memories. For generations, we have started lasting and trusted relationships with a handshake. From the beginning, a young Ray Dilbeck dreamed of a real estate company where every relationship is important. Dilbeck Real Estate was built one relationship at a t i m e u p o n a c o m m i t m e n t t o s u p e r i o r s e r v i c e , h o n e s t y, i n t e g r i t y, a n d t h e v a l u e o f h o m e o w n e r s h i p a n d f a m i l y . To d a y , R a y D i l b e c k ’ s s o n , M a r k D i l b e c k l e a d s t h e f i r m a n d continues his father’s vision. Dilbeck Real Estate and its Sales Associates have grown along with the communities they serve. Most associates have been raised or live in their local market area and h a v e a n i n t i m a t e k n o w l e d g e o f t h e c h a r a c t e r o f e a c h l o c a l c o m m u n i t y, i t s s c h o o l s , recreational facilities, shopping opportunities, and transportation. This community background, combined with the skills of highly trained professionals, make Dilbeck Real Estate ready to exceed the expectations of each of its clients and meet the unique challenges encountered when buying or selling a home.


FA S T FA C T S

Established in 1950 and locally owned and operated, Dilbeck Real Estate provides residential sales and leasing, estate home sales, commercial sales and leasing, corporate sales, new home sales, and relocation.

BY TH E N U M B E R S 13 offices throughout the greater Los Angeles area Over 600 Sales Associates 2016 sales volume of over $1.5 Billion Dilbeck Real Estate is ranked among the top independent real estate companies in the nation

D I L B E C K R E L O C AT I O N The Relocation and Corporate Services (RCS) Department of Dilbeck Real Estate provides a full range of Relocation and Referral services including Broker-to-Broker Referrals, Affinity Programs and E- Commerce, as well as Direct Relocation and traditional third-party provider Relocation Services.

A N D A S S O C I A T E S

In 2001, Mark Dilbeck, President of Dilbeck Real Estate, along with the management team, formed the Dilbeck & Associates Charitable Foundation, a non-profit organization. Dilbeck Real Estate along with Sales Associates, employees and others make contributions to the Foundation and in return, the Foundation contributes to local non-profit organizations that promote the welfare of humankind.


FA S T FA C T S

The Dilbeck Estates program was created to address the special needs of our clients in the high-end market. In turn, we have fostered affiliations with some of the top estate partners to deliver an unparalleled experience in luxury purchases.

As an exclusive Affiliate of Christie’s International Real Estate, Dilbeck Real Estate is distinguished as best in class. An invitation-only real estate network, Christie’s International Real Estate is comprised of 141 affiliate real estate brokerages specializing in luxury properties valued at US $1 million and above, with over 32,000 professionals in 46 countries. In 2016 the Network achieved US $115 billion in sales.

Dilbeck Real Estate is an exclusive member of Leading Real Estate Companies of the World®, a by-invitation-only network of the world’s market-leading independent residential brokerages in over 65 countries, with over 565 firms and 130,000 associates producing over one million transactions valued at $3 6 8 billion annually.

Dilbeck Real Estate is an exclusive member of Luxury Portfolio International,

®

a unified collection of the world’s most experienced, visible and highlyregarded experts in luxury real estate. Luxury Portfolio has listings in over 60 countries, and an award-winning website in 9 languages and multiple currencies, with monthly traffic from all 200+ countries and territories.

Information gathered in 2017


O U R C O R E VALU ES

ACT WITH

EXCELLENCE Achieve POSITIVE Results for our clients Be PROFESSIONAL, Skillful and Knowledgeable Be DISCERNING and show good judgment Create a Quality, FULL-SERVICE, Experience Consistently Exceed EXPECTATIONS

SUPPORT

OUR TEAM We INVEST in every member of our real estate family to empower them to achieve and surpass their GOALS We SUPPORT and encourage their professional and personal GROWTH and development We are Collaborative, POSITIVE and Encouraging We are Welcoming, HELPFUL, and Caring We are Community, Team and FAMILY oriented, while valuing diversity and each person as an individual


HAVE

INTEGRITY Be HONEST (Tell the Truth) Be ETHICAL (Do what's Right and Good) Be FAIR (Equitable, Unbiased and Just)

LOOK

FORWARD Imagine and INNOVATE Be Dynamic, PROGRESSIVE and Enterprising Create POSITIVE Change

BE

COMMUNITY MINDED

Be GRATEFUL and Involved Be Generous and CHARITABLE Live the "GOLDEN RULE" (Treat other People the Way You Would Like to be Treated)


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Dilbeck Home Buyer Listing Book  
Dilbeck Home Buyer Listing Book