Berkshire Hathaway HomeServices Woodmont Realty BUYER GUIDEBOOK 2024

DEFINING The Home Buying Experience

You’ve made the decision to buy a property, now you need a partner you can trust to make that happen At Berkshire Hathaway HomeServices Woodmont Realty, we define real estate every day, for every client, developing a unique buying strategy just for you

Working with us you gain a trusted advisor who has the knowledge and experience that comes from being part of an award-winning company that has helped individuals and families make their dreams come true for over three decades As a member of the global network of Berkshire Hathaway HomeServices, we have the resources to bring a new level of quality to the real estate experience We are continuously redefining how to serve our clients and leveraging the latest innovations in technology to ensure an efficient, seamless buying process.

We are prepared to guide you every step of the way, from defining your home search through the closing on your new home Our essential partners are the best in the industry to offer a fully integrated team of professionals who are all committed to your ultimate success

We hope the information provided is helpful We are honored to help you in the purchase of your new home so you many begin the next exciting chapter in your life

Ginger Holmes

Co-Owner / Principal Broker

(615) 405-0502 / gholmes@woodmontrealty com

Tonya L Hamilton

Co-Owner

(615) 312-5377 / thamilton@woodmontrealty com

DAVIDSON COUNTY / 2010 8th Avenue S Nashville, TN 37204 / (615) 292-3552

WILLIAMSON COUNTY / 5107 Maryland Way Ste 100 Brentwood, TN 37027 / (615) 661-7800 www.woodmontrealty.com

Getting Started

WE SIMPLIFY THE PATH TO HOME BUYING SO YOU CAN BUY WITH CONFIDENCE

Welcome to a new era in real estate. Berkshire Hathaway HomeServices Woodmont Realty continues to distinguish itself the innovator in marketing, technology, and client services across Metro Nashville and middle Tennessee

Backed by the power of one of the most respected brands in the world, we are globally recognized for defining the real estate search and home buying experience

A Seamless Home Buying Process

Setting Goals

YOUR DISCOVERY CONSULTATION

It is important to begin by defining your goals, timeline, and ideal lifestyle to ensure a more efficient and successful search process.

During the discovery consultation, our proven process will help position you on the right path It is our goal to tailor the experience to exceed your expectations We know that a home is more than just a place to live; it is where you will make memories that last a lifetime

With that in mind, our team of real estate professionals are local market experts who understand the market, negotiate effectively, leverage technology and guide you through every step of the buying process Our role is to identify the opportunities and stay by your side, counseling and guiding you until you are 100% confident you have found the perfect home

Defining your Lifestyle

What communities are you interested in exploring?

What style home do you prefer?

What size home do you need?

Do you have pets?

Do you need dedicate space for a home office?

What features are a must have?

How long do you plan to own your new home?

Understanding the Local Market

What is the status of current home inventory?

Are homes selling quickly in your desired area?

What current market factors should be considered before making an offer?

Do trends indicate a future increase in value?

What factors might resale?

Pre-Approval

Pre-approval serves three crucial purposes:

1.

Setting the financial parameters for your search and helping you understand your buying power

2 Sellers know that you are qualified to make an offer

Focused home search that fits your budget and lifestyle

3

Our real estate professionals can connect you with a preferred mortgage loan consultant to complete the pre-approval process and identify the right mortgage for you

Beginning your Search

WE FOCUS ON ONE THING... FINDING YOUR PERFECT HOME

Providing the best local search tools, our website and mobile app make it easy for buyers to search 24/7 from a variety of devices including, computer, smartphone, or tablet Enabling potential buyers to search by numerous filters such as walkability and schools attracts more buyers to your listing

Our mobile apps provide innovative, augmented reality search that allows the consumer to simply track the current real estate market and receive immediate updates on preferred listings.

INNOVATIVE SOLUTIONS TO HELP YOUR HOME SEARCH

SEARCH BY SCHOOL DISTRICT

Our website allows you to select home searches for any elementary, middle, or high school by city or county district Schools can be an important factor to consider for resale purposes

SEARCH BY LOCAL COMMUNITY AND NEIGHBORHOOD

Our website provides local insight for thousands of areas and neighborhoods. You can find housing trends, homes for sale, local schools, and get updates on any specific neighborhood of interest Better information leads to better results

Receive alerts for new homes on the market

Search properties by neighborhood, price range, and the specific attributes most important to you

Search from any device - anywhere, anytime

Our Trusted Partners

HOMESERVICES IS OUR MIDDLE NAME

With three quarters of consumers seeking a simplified purchase process, we have carefully vetted essential partners who work collaboratively to provide a streamlined and efficient closing process

MORTGAGE PARTNER

Greg Goodman and his team at SWBC Mortgage are committed to providing an exceptional client experience They offer personalized mortgage solutions, fast customized quotes, great rates, and service with integrity

WARRANTY PARTNER

A home warranty not only protects the major components and systems of the home it can also be transferred to the buyer at closing. This allows you reliable access to a nationwide network or qualified home service contractors

CLOSING PARTNERS

Phoenix Title and Bankers Title both have long standing relationships with Berkshire Hathaway HomeServices Woodmont Realty. Both title companies provide a broad range of real estate transactional services including title insurance, residential and commercial closings, and escrow services

The Winning Offer

COMPONENTS OF A WINNING OFFER

When you find the right home and are ready to make an offer, it is important to understand the property’s value and other terms for the most successful outcome. Berkshire Hathaway HomeServices Woodmont Realty provides you with access to many unique resources to gain clear knowledge of a home’s current and future value

ANALYSIS • A Buyer

1 REVIEW • Evaluation of lender reports to estimate market value, as well as changes due to renovations

Comparative Market Analysis and valuation from public records and other automated tools

2. ASSESS • Analysis of historical data from the Multiple Listing Service (MLS), past appraisals, and other information exclusive to real estate professionals

4

3 MARKET TRENDS • Staying up-to-date on trends and planned changes or developments within the markets we serve

The Difference

YOU ARE THE DIFFERENCE

At Berkshire Hathaway HomeServices Woodmont Realty, knowing that you are confident in your decision and excited about the future is all that matters.

We are grateful for each and every opportunity we have to help clients like you realize your dreams We hope that you also rely on us for your future needs - whether it’s questions about your new neighborhood or finding your next home when you need it

Think of us as more than just your REALTORS®, we are your FOREVER AGENTS. We can help you buy, sell, invest, or refinance

Buyer’s Questionnaire

LET’S GET STARTED

When buying a home, there are many things to consider We have provided a checklist to help find your perfect home or, at least get a good head start on our search

Price Range:

$ to $

Move-In Date:

Interested in renovating?

Looking for a specific school district?

If yes, please list

Neighborhood (s):

HOUSE FEATURES AREA AMENITIES

Detached

Attached

Single Family

Multi-Family

Active Adult

Ranch

Condominium

Townhouse

Finished Basement

Garage

Parking

# of Floors

# of Bedrooms

Describe your lifestyle:

#of Bathrooms

Main Floor Bedroom

Fenced Yard

Pool Tennis

Golf

Gated Entrance Clubhouse

Park

Sidewalks

Walking Trails

Fitness Center Shops

Restaurants

Relocation

WORKING WITH A GLOBAL NETWORK

Middle Tennessee is simply a great place to call home and Nashville ranked 5th hottest real estate market of 2023 according to zillow.com. It is likely that the buyer for your home is someone moving to the area for either a work-related job transfer or simply is attracted to the lifestyle and pace of the Southeast

Our team of highly skilled relocation sales professionals work to ensure these individuals and families are aware of your property listing as a possible match for their buying needs.

Woodmont Realty is the trusted advisor to a myriad of corporations and global mobility organizations and we have successfully assisted thousands of corporate employees over the years Our award-winning relocation team holds leadership positions in all the local, national, and global trade organizations engaged in the mobility industry We have been recognized with dozens of ‘quality service awards’ by this community and we are proud to be recognized as the “company of choice’ with these clients

Berkshire Hathaway HomeServices

Networking

REFERRAL NETWORKS EXPAND OUR REACH

Through our extensive broker network around the world, we can assist you with your next move even when it’s outside of our market area Our agents can introduce you to other skilled real estate professionals in your new destination to ensure a smooth transition and trusted representation

Berkshire Hathaway HomeServices Global Network HomeServices of America Network

HOME PARTNERS OF AMERICA

We have strategic relationships with Home Partners of America for the “Lease with the Right to Purchase” program Qualifying properties will be purchased by Home Partners of America and leased to approved residents These programs may be a great option for qualified properties.

Home Partners of America has a national program if you are relocating out-of-state Our Relocation Department can assist you with making a connection

Our Difference

WE HANDLE THE DETAILS SO YOU DON’T HAVE TO

At Berkshire Hathaway HomeServices Woodmont Realty, we take pride in how we do things Our difference is in the details

Our team of FOREVER AGENTS are proudly affiliated with local, state, and national associations of REALTORS®, and are bound by a strict code of ethics

Our agents are well-versed in negotiation strategies, and strive to keep you in control throughout the entire transaction process

We highly recommend utilizing our trusted partners to assist with all aspects of lending, legal, insurance, and warranty needs, ensuring a smooth and seamless closing process without any unexpected delays or surprises You can rest assured that when you work with us, you'll be receiving the highest level of quality and trust

Forever Agents

WHAT IS THE DIFFERENCE BETWEEN A FOREVER AGENT AND A REAL ESTATE AGENT?

While there is no one official definition of either title, we believe what distinguishes one from the other is the following:

Traditionally, a Real Estate Agent is mostly focused on ethically and successfully facilitating real estate transactions

A FOREVER AGENT seeks to serve consumers and clients by also providing ongoing advice and assistance throughout their lifetime real estate journey

While all FOREVER AGENTS must be licensed Real Estate Agents, not all view their role of being committed to serving consumers or clients as a FOREVER AGENT for life

As we believe you will see in your interaction with the Berkshire Hathaway HomeServices Real Estate FOREVER AGENT who share this guide with you, this approach to serving consumers and clients is one that regrettably is not universally shared within the real estate industry

That’s why you want an advocate who is knowledgeable in the real estate process and has the backing of a world-class brand in your corner

As Real Estate’s FOREVER BRAND, we clearly favor and encourage our forever network agents to go beyond just serving transactional needs

Here’s to your real estate and lifestyle success.

Your Trusted Advisor

FOR YOU, FOR LIFE. YOUR FOREVER AGENT

Real estate agents claim they would like to be your real estate for life As Berkshire Hathaway HomeServices network FOREVER AGENTS, we are committed to providing our clients with a lifetime of value which includes relevant resources and tools like the real estate lifestyle planning guide that can assist you in developing real estate and lifestyle-related strategies. We look forward to earning your respect as your real t t t t d d i

REAL ESTATE GLOSSARY

ADJUSTABLE RATE MORTGAGE (ARM)

An adjusted interest rate mortgage is a type of loan that offers a low introductory interest rate that adjusts or changes every year according to market conditions for the life of the loan

AMORTIZATION

Amortization is the paying off of a debt with a fixed repayment schedule in regular installments over a period of time

ANNUAL PERCENTAGE RATE (APR)

The average annual finance charge (including feeds and other costs) divided by the amount borrowed

BACK UP OFFER

A buyer’s broker represents the interests of the client buying the property It is their duty to provide guidance to the buyer during the process

BUYER’S MARKET ANALYSIS

A comparative market analysis (CMA) is an estimate of a home’s value based on recently sold and similar properties in the immediate area Real estate agents and brokers create CMA reports to help sellers set listing prices for their homes and, less commonly, to help buyers make competitive offers

CLOSING

The closing (or settlement) is the legal process of transferring ownership of a home from one person(s) to another

CLOSING DISCLOSURE (CD)

This form is designed to provide disclosures that will be helpful to consumers in understanding all of the costs of the transaction This form must be provided to consumers before the consummation of the loan

CREDIT LINE

A line of credit is any credit source extended to a person This includes a car loan, personal loan, credit cards, or any situation where you have borrowed money for the purchase of an item

CREDIT REPORT

A credit report is a record of an individual’s history of borrowing and repaying debts A credit report is used to assess how much of a risk a potential borrower is when applying for a loan

DOWN PAYMENT

A down payment is a percentage of the total purchase of a home paid at the beginning of a mortgage loan A down payment is typically between 5 and 25 percent of the total value of the home

EQUITY

Equity is essentially stock or ownership in a property In terms of a home, the borrower gains equity in their home as they pay off their mortgage

EARNEST MONEY

Earnest money is a showing of commitment from the buyer to the seller The buyer will entrust a dollar amount, usually 5% of the asking price, to a neutral party If the seller rejects the buyer’s offer, the buyer will get their money back If the seller accepts the offer and the buyer backs out for any reason, the buyer loses that money

ESCROW ACCOUNT

Escrow is essentially an account where funds/assets in the purchase of a home are held until all the specified conditions of the purchase are met Usually property taxes and insurance funds are held in escrow Lawyers commonly act as escrow agents in mortgage transactions, securing the property and examining documents to ensure the terms of the sale are met on both ends

FIXED-INTEREST MORTGAGE

A type of loan that has a fixed interest rate that borrowers will pay over the term or length of the loan

FORECLOSURE

A home that has been reclaimed by the lender because the homeowner failed to pay back their loan These homes are advertised at a discounted price, but come in ‘as-is’ condition

HOMEOWNER’S ASSOCIATION FEES

Fees associated with living in a housing development or condo These fees cover the costs to maintain common areas and other amenities

HOME APPRAISAL

A survey of a home used to determine the current market value

HOME INSPECTION

A survey of a property to assess any issues with the condition of the property or systems including water damage, foundation damage, faulty heating or wiring, appliances, and other systems

HUD

The Department of Housing and Urban Development

HUD HOME

A 1-to-4 until residential property acquired by HUD as a result action on an FHAinsured mortgage HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim

LOAN ESTIMATE

This form is designed to provide disclosures that will be helpful to consumers in understanding the key features, costs, and risks of the mortgage loan for which they are applying, and must be provided to consumers no later than the third business day after they submit a loan application

MULTIPLE OFFER

Occurs when more than one prospective buyer makes an offer on a property by submitting a Contract of Sale Multiple offers often happen in a seller‘s market when competition for residential property is greatest and there are more buyers than there are properties for sale

SELLER’S BROKER

A seller’s broker represents the interest of the property owner selling their home It is the duty to share information about the property with potential buyers and provide guidance to the seller during the process of marketing and selling their home

SHORT SALE

A situation where the lender agrees to let a property owner sell their property for less than the amount owed on the mortgage

SURVEY

Confirms a property’s boundary lines and legal description It also determines other restrictions or easements included in the property

TITLE INSURANCE

Protects the lender or owner against loss in the event of a property dispute