Zeitlin Sotheby's International Realty Buyer Guide

Buyer Guide

The location, the style, the feeling when walking through the door - every aspect, a reflection of you, where you’ve been and the life you aspire to live.

The best life begins with a home that inspires.

Luxury is Personal

Although fine art auctions and precious jewel collections may come to mind when you think of Sotheby’s, we believe that luxury is a level of service – not a price point.

Since 1979, Zeitlin has been the premier real estate leader in the Nashville and Middle Tennessee communities. Our Realtors are ethical, knowledgeable, and refined, with a distinct reputation for providing a level of discretion and expertise that is simply unmatched in our market.

Equipped with a myriad of local and global resources, we provide the most extensive marketing exposure for your property. Helping you achieve your goals is our priority.

Who We Are

Zeitlin Sotheby’s International Realty was founded by Shir ley Zeitlin in 1979. Originally named Shirley Zeitlin & Co., Realtors, the company’s mission was to build an organization of full–time professionals providing exceptional real estate representation. Today, the firm has more than 170 full–time Realtors with an established record of providing first–class service, by combining local expertise with a world–renowned brand. The Sotheby’s International Realty® network includes 26,500 sales associates across 1,115 offices spanning 84 countries and territories with a total of $143 billion in global sales.

Zeitlin Sotheby’s International Realty is a local, family–owned real estate brokerage that harnesses the power of this global reach to provide unprecedented luxury at every price point.

Deeply rooted in Middle Tennessee, Zeitlin Sotheby’s International Realty is committed to helping develop and sustain the city’s unique culture and sense of community. Zeitlin agents contribute to the Zeitlin Charitable Fund, which supports non–profit organizations that assist thousands of people living in under–resourced areas in our region.

Luxury is an experience, not a price point. Whether your definition of luxury is a beautiful view, a walkable lifestyle, or the perfect entertaining space, our global advisors are highly qualified to help you identify the lifestyle you desire. From Green Hills to Germantown, Brentwood to Bellevue, Franklin to Forest Hills, or even London to Lisbon, let us help you find your definition of luxury.

Zeitlin Sotheby’s International Realty Sets The Standard

#1

SOTHEBY’S INTERNATIONAL REALTY AFFILIATE IN TENNESSEE

$ 743 M

ANNUAL SALES VOLUME

1,059

TOTAL TRANSACTIONS

$ 871 K AVERAGE SALES PRICE

$1.02 M AVERAGE CLOSED SALES PRICE

Relocation Referrals

Sotheby’s International Realty

$ 143 B IN GLOBAL SALES

1,115 OFFICES 84 COUNTRIES

26,500 SALES AGENTS

Buying Process

1. AGENT

Finding a Realtor® to purchase your home costs nothing, yet your real estate agent provides immeasurable and insurmountable benefits. As industry experts, your agent has extensive experience in the field and our geographical location, fully understanding the dynamics in this fast–paced, highly competitive market. You and your Realtor® work as a team identifying the lifestyle of your dreams.

2. FINANCING

You will need to secure a pre–qualification letter from a lender to facilitate your search and negotiate with confidence. Your Realtor® can refer you to qualified lenders, including our in–house mortgage affiliate, Shelter Lending Services.

4. SELECTION

Your Realtor® will assist by providing objective information about each property. They have exclusive access to property data such as sales and tax history and comparable home prices.

6. DUE DILIGENCE

There are significant steps to complete before the final purchase. Your Realtor® knows the most qualified professionals, coordinates appointments and provides all necessary information.

3. SEARCH

With many connections and resources, your Realtor® will work tirelessly to match all of your criteria.

5. NEGOTIATION

Your Realtor® is an experienced and powerful negotiator. Best practices and daily market fluctuations will help determine when and how to negotiate your selected home offer.

7. CLOSING

Your Realtor® will coordinate the closing and ensure that you’re fully prepared to finalize the transaction. Following your closing, you have officially taken legal possession of your new home.

Area Map of Middle Tennessee

Davidson County

One of the fastest growing and most populated counties in the state seems to have it all. The vibrant downtown is an entertainment epicenter for music, sports and cultural events. This is a go–to area for lovers of urban living and easy access to everything including hip and trendy boutiques, museums, coffee shops, bars and upscale restaurants. It’s undeniably one of the most popular hot spots with a variety of housing styles including condos, lofts and high–rise living. Away from the immediate downtown, you’ll find suburban living full of elegant, sophisticated and historical areas. You have your choice of historical and stately Tudors to more traditional and modern homes nestled among beautiful, mature trees. The outskirts of the city are filled with popular university neighborhoods surrounded by walking and bike trails, lakes, dog parks, art centers and pristine green space.

Williamson County

The most affluent county in the state, this area is known for its high performing public schools, along with a bustling and self–sustaining community. There is no shortage of happenings as residents enjoy concerts in the park, local farmers markets and plenty of community activities. Recently named one of the best places to live, Franklin is rooted in history yet full of hip restaurants and boutiques, and the pedestrian–friendly vibrant downtown is chock full of celebrations, parades and music festivals. Historic homes of character along with new construction, Tudors, townhomes, farmhouses and craftsman style can all be found here. Take a leisurely drive outside of downtown into the lush, rolling countryside and you’ll pass charming farmhouses, chic barns, expansive estates and national historic treasure, the Natchez Trace Parkway. Rural Williamson County is certainly a boon for nature lovers with a variety of more affordable housing and land options in a quiet, delightful and convenient country environment.

Maury County

Known for its old southern charm and small town feel, Maury County has emerged as an important tourist center as this area welcomes a larger number of visitors than any other rural county in Tennessee. Columbia, the county seat, was recently voted “best small town” by Southern Living. Visitors flock to Columbia for the annual Mule Day celebration and visit the large number of historical sites scattered throughout the county, including the James K. Polk Home and the Athenaeum. Nearby is Rattle and Snap, built for George Polk in 1845; this National Historic Landmark is considered one of the great houses in North America. You will find a wide variety of everything from traditional homes and planned developments to established small–town neighborhoods, affordable townhomes, and new construction on several acres of rich farmland and Antebellum homes.

Photos provided by visitcolumbiatn.org

Rutherford County

Because of its exact geographic center location in the state, Rutherford is nicknamed the “Heart of Tennessee” with antiques, boutiques, gift shops, and malls abound. Anyone who enjoys quiet, close–knit communities with plenty of outdoor activities will find this area an attractive place to call home. Percy Priest Lake, for example, offers hiking, swimming, boating and fishing. Overall, this area is an ideal place for prospective homebuyers in the market for a home in pleasant, affordable suburbs, new construction, townhomes, brick ranch homes, and even large estates.

Wilson County

Wilson County offers the best of both worlds – easy access to the bustling city and the beautiful Tennessee countryside. It’s located directly east of Nashville, and it’s home to three major towns — Lebanon, Mt. Juliet, and Watertown. As a big plus, the schools are well-respected in the state. The well–known liberal arts college, Cumberland University, is only a short trip from Wilson County. Wilson County has plenty of outdoor activities too. At Cedars of Lebanon State Park, you can hike, picnic, see a variety of wildlife, and even go horseback riding. In Mt. Juliet, you’ll find Charlie Daniels Park, which boasts an amphitheater, playground, park for toddlers, skate park and a walking track. You’ll have your choice of home styles where homes come with the added benefit of a few acres of land. Prospective homebuyers will find plenty of smaller homes, brick ranch–style homes and even million–dollar estates.

Sumner County

Although this county stretches up to the Kentucky border, a large part of the area is located just northeast of Nashville. Homebuyers may live only a short drive to the action of downtown Nashville but gain the benefit of the peaceful, quiet neighborhoods in this area. Outdoor enthusiasts, for example, will find this community a dream. Avid hikers, campers, boaters and fishermen frequent Bledsoe Creek State Park near Gallatin. Old Hickory Lake is one of the most popular recreational lakes in Tennessee known for fishing, camping and boating. In addition, the Old Hickory Wildlife Management Area provides a welcoming site for bird watching. And at the Wynnewood State Historic Site in Castalian Springs, you can visit the biggest log structure in all of Tennessee. Let’s not forget the Historic Rock Castle! This fast growing area is chock–full of suburban community planned neighborhoods where you will often find new construction.

Robertson County

This county, named in honor of James Robertson (“The Father of Middle Tennessee” and founder of Nashborough which would later become Nashville) is a wonderful hybrid of rural and suburban areas. Whether you are coming to the “Turning of the Pig” event in Greenbrier, to “Trash and Treasures” in Cross Plains or in search of the Bell Witch in Adams, you will always find a warm, inviting and genuine group of residents. The county seat, Springfield, is moments away from some of the most beautiful and productive farmlands. No doubt, rehab opportunities abound in this area, making it an affordable option for those who enjoy suburban or rural living.

Photos provided by Roberson County archives

Cheatham County

This area is widely known for its terrain of rolling hills, captivating forestry and abundant hollows where rivers and creeks flow. Its largest, the Cumberland River, is joined by numerous other streams in this rural area, including the Harpeth River, Sycamore, Half Pone, Barton, Marrow Bone, Brush and Sam’s creeks. Although it feels hours away from any urban life, you can hop on two major interstates that cross the county and arrive in downtown Nashville in 30 minutes. You will notice homes nestled in the woods on large acreage and find numerous new construction townhomes and single family dwellings.

Photos provided by www.cheathamcountytn.gov

Montgomery County

Clarksville, the county seat, is situated on the Cumberland River and lies on the Highland Plateau. The Cumberland and Red Rivers and their numerous tributaries have carved out valleys, plateaus and ridges throughout this rural area. Located on its border is the military Army Base, Fort Campbell, known as a “World Class Community Base” and home to the 101st Airborne Division and the 160th Special Operations Aviation Regiment. You will find a huge range of affordable large track planned communities with all the desired amenities to generational family farms that have stood proudly for well over a century.

Photos provided by www.cityofclarksville.com

Dickson County

Living in Dickson County offers residents a peaceful rural feel. Its biggest claim to fame is the magnificently stunning Montgomery Bell State Park equipped with a conference center, on–site restaurant, quaint inn and environmentally–friendly modern cabins for rent. The campground of nearly 100 campsites shares this natural space with native Tennessee wildlife. Many flock to this area to enjoy the open sky to stargaze, build campfires and roast marshmallows at night and hike, bike and walk the winding trails during the day, all in an effort to escape the hustle and bustle of urban living. Known for a lower cost of living, you can buy a little bit more house and land per acre than in the city. You will find board-and-batten farmhouses, all brick ranchers as well as new construction on five acre lots in neighborhoods nestled between lakes and cedar trees.

Photos provided by dicksoncountytn.gov

Pre-Qualification Letter Checklist

If you’re not paying cash, you need to pre–qualify or get pre-approved with a lender first to determine the following:

F Maximum price range

F Maximum loan amount

F Total monthly payment

F Total cash amount needed to close

This is a great time to shop interest rates and request a written good faith estimate to compare various loan offers and fees. Your agent may have other recommendations and can refer you to our in–house mortgage affiliate.

Official Loan Application Checklist

Required within five days of the contract acceptance, you will fill out a full loan application. This is when you will pay for the appraisal and credit report – costs that will be credited to you at closing.

F BANK STATEMENTS

Last two months of checking/savings statements

F RETIREMENT ACCOUNTS

Last two months of retirement/pension and 401k statements

F PAY STUBS

Two most recent employment pay stubs covering a minimum of 30 days

F SIGNED TAX RETURNS

All pages of W-2s or 1099s from all employers in the last two years

F VALID ID COPY

Driver’s license, passport or a social security card

F EARNEST MONEY

Copy of check

IF APPLICABLE

F AWARD LETTERS

For retirement/pension income, social security, disability income

F DIVORCE DOCUMENTS

Complete divorce decree

F MORTGAGE STATEMENTS

Property tax bills and homeowner’s insurance statements for all properties

F BANKRUPTCY

Petition and discharge

Home Inspection Checklist

It is strongly recommended that your home is professionally inspected and your agreement to purchase contingent upon the satisfactory results of the home inspection. Your Realtor® will coordinate and review the report to determine if items will be included on repair/replace requests. If you are not satisfied with the seller’s response to repair requests, you can terminate the contract if you have an inspection contingency. Look out for the following potential issues:

F PLUMBING, ELECTRICAL AND STRUCTURAL ISSUES

Although most issues can be fixed upon request, you want to be well–informed of these repair needs and the home’s overall condition.

F RADON GAS

If the test results show a radon gas level above the EPA recommended amount, a licensed company may install a radon abatement system.

F ASBESTOS

Asbestos insulation materials might be found in an attic or exposed wall in homes constructed prior to 1980. If so, a further evaluation by an EPA–approved firm may be necessary.

F LEAD BASED PAINT

The majority of homes constructed prior to 1978 contain lead-based paint. Federal law requires that known hazards be disclosed before selling a house.

F TOXIC MOLD & FUNGUS

If present, toxic mold can be alleviated by a licensed mold specialist.

Closing Checklist

Your agent will cover what is expected during the closing process:

F UTILITIES

Arrange for utilities to be turned on the day of possession.

F TRANSFERRED FUNDS

Be sure you have transferred funds to a local institution in order to obtain a cashier’s check for closing.

F VALID I.D.

Bring a government issued photo I.D., such as a driver’s license.

F FINAL WALK-THROUGH

Prior to closing, a walk–through will be scheduled at your new home with your agent to ensure the house is in agreed-upon condition.

F OTHER

Provide any outstanding documents or paperwork that you have not yet provided to the title company or the mortgage loan officer.

Closing Costs

Typically, home buyers will pay between 2 to 5 percent of the purchase price of the home in closing fees. The following is a list of the most common fees:

ORIGINATION FEE:

POINTS:

CREDIT REPORT:

APPRAISAL:

SURVEY:

ATTORNEY FEE:

TITLE INSURANCE:

TITLE INSURANCE:

RECORDING FEES:

MISC. FEES:

PRO-RATA INTEREST:

FIRE & HAZARD INSURANCE:

MORTGAGE INSURANCE:

ESCROWS:

percent of loan amount charged by lender to prepare the loan a point is equal to one percent of the loan amount

tri-merged mortgage credit report that is required on all mortgage loans required to determine the property value

indicates what property is being used as security for the mortgage retained to handle legal aspects and formal closing of the loan

(Lender’s Coverage) insures the lender that it holds a valid security interest in the property

(Owner’s Coverage) insures the owner against title defects not revealed through normal title search and unrecorded claims

local municipality charge for the recording of the deed of trust common fees charged by the lender such as a tax services, document prep, processing, underwriting and application interest on the loan from closing through the end of the month required to protect the lender and homeowner against loss due to fire (first year’s premium charged at closing)

required on conventional loans made with less than 20% down (all FHA loans require this insurance regardless of the down payment amount)

funds held in account by the lender to assure future payment for taxes and insurance (a minimum of two months taxes and insurance are charged at closing)

First–Time Homebuyers

4 BENEFITS OF HOMEOWNERSHIP

1. Pride of ownership is the number one reason people enjoy owning their own home. Home ownership gives you a sense of stability and security

2. Buying a home allows you to accumulate wealth and this is one of the main financial reasons prospective buyers jump into the market. According to the Harvard University Joint Center for Housing Studies, 60% of the wealth of homeowners is in the form of home equity

3. Mortgage interest and certain closing costs are generally tax deductible. Mortgage insurance and property taxes may also be deductible. Consult a tax professional to learn more

4. A fixed rate mortgage guarantees a stable monthly payment as compared to rents which can increase at every renewal

5. Privacy and control to renovate/style to your liking

4 KEYS TO YOUR FIRST HOME

1. Know What You Can Afford – how much cash you will need out of pocket for a down payment*, monthly mortgage payment including taxes, interest, insurance and miscellaneous. fees

2. Know Where You Want To Be – learn about the neighborhood before you make an offer

3. Choose Your Property Type – learn about single family homes, townhomes, condominiums and new construction homes

4. Obtain a Valid Pre-Approval Before You Make an Offer – a document verification, credit check and underwriting gives you and the seller confidence in your ability to close the deal once you find your perfect home

* DOWN PAYMENT OPTIONS

0% DOWN

The VA and USDA both offer a zero down loan program for individuals and/or properties that meet their criteria. Sometimes, loans require little or no cash out of pocket. Some HUD properties are available with as little as a $100 down.

3.5% DOWN MINIMUM

The Federal Housing Administration loan program can allow as little as 3.5% down, and it is more lenient than most other programs on minimum credit scores and other factors.

3% DOWN MINIMUM

Fannie Mae / Freddie Mac conventional loans are available with down payments as low as 3%. The minimum on these programs can change dependent on factors such as property type, credit score, occupancy, etc.

Digital Connection

ZEITLIN SOTHEBY’S INTERNATIONAL REALTY MOBILE APP

The Sotheby’s International Realty® mobile app is the only luxury real estate app that serves properties in 84+ countries. Featuring high–quality media content, the app brings property searches to life with GPS and a drawing tool to locate homes. A points–of–interest toolbar features lifestyle amenities such as local restaurants, golf courses, resorts and more.

APPLE TV

The Sotheby’s International Realty Apple TV app is designed to fully immerse consumers in the brand. With our innovative app, homebuyers can discover SIR properties from the comfort of their living rooms. Unique to our app, users can explore our extraordinary offerings via lifestyle and amenities and can highlight properties and recent searches.

SOCIAL MEDIA

We want to be your friend @ZeitlinSIR . We’re passionate about connecting with all of you on our online community. We share industry secrets, lifestyle and decorating trends, beautiful homes for sale, and upcoming open houses, all the while keeping a pulse on what’s going on in our own backyard and posting all things real estate.

We also recommend you follow our Sotheby’s International Realty affiliate @Sothebysrealty for your global connection including Instagram, the Extraordinary Living Blog, Facebook and YouTube channel, which has more subscribers than any other real estate brand. The Sotheby’s International Realty social media pages direct traffic to Sothebysrealty.com, which attracts 48 million online visitors annually.

Partners

SHELTER LENDING SERVICES

Our loan officers are responsive, professional and readily available to answer questions and move through the homebuying or refinancing process smoothly.

MUSIC CITY TITLE & ESCROW, INC.

Full-service title insurance agency servicing the residential and commercial real estate industries.