CB Caine Buyers Guide 2024

BUYERS

GUIDE

Success is our hallmark.

When you are dedicated to excellence, it shows in the numbers.

CB Caine Realtors® consistently outrank our competition in average units sold and average sales volume. Our agents sell homes at a higher average sales price than the market and receive rave reviews from their clients.

Buying your home with the best terms and price is important – put our experience and expertise to work for you.

COLDWELL BANKER OFFICE IN SOUTH CAROLINA

Community is our commitment.

At Coldwell Banker Caine, we are committed to:

• Fostering inclusion in our industry and in the communities we serve.

• Contributing to the Upstate’s dynamic growth by caring for the community and being active participants in the culture around us.

• Providing equal professional service to all, without regard to race, color, religion, gender (sex), disability (handicap), familial status, national origin, or other state and local protections, such as sexual orientation, gender identity, military status, and source of income, of any prospective consumer or resident of any community.

• Respecting the diversity and differences within the Coldwell Banker Caine consumer base and remaining informed of those differences in order to provide truly remarkable service.

• Engaging the community as leaders, board members, advocates and volunteers.

• Championing home ownership in our community by working to provide housing to those in need.

• Refusing to tolerate non-compliance in accordance with Coldwell Banker Caine’s leadership role in the real estate profession.

1,200

123 VOLUNTEER HOURS ORGANIZATIONS

AGENTS SERVED ON

56 BOARDS

DONATED GOODS TO BUILT

85+

200+

FINANCIALLY SUPPORTED ORGANIZATIONS ORGANIZATIONS WITH HABITAT FOR HUMANITY

DONATED

$550,000+ OVER THE PAST 5 YEARS

2 HOMES

Why choose a CB Caine Realtor ®?

Because not all real estate companies are the same. At Coldwell Banker Caine, we set the standard for innovation, expertise, and support.

We believe you deserve full-time professionals who know more and have access to better tools and training than anyone else in the industry. Our Realtors® are supported by a team of marketing professionals, market experts, and world-class technology, setting us apart as industry leaders.

This is why a CB Caine Realtor® will serve you better and help you get the very best terms for your home purchase.

We call it “superior real estate.”

Buyer Consultation with your CB Caine Realtor®

Determine Your Price Range

Tour Homes

Make an Offer

Repair & Appraisal Negotiations

Close & Move In

Buyer consultation with your CB Caine Realtor ® .

A buyer consultation is your first meeting with a Coldwell Banker Caine Realtor® and sets the stage for an effective and efficient working relationship. Your CB Caine Realtor® will ask about your wants, needs, desired timeline, and gather detailed information needed to help you find your home. They will explain the buying process and go in-depth to understand your priorities, answer your questions, and describe their role and duties to you in the homebuying process. This is your time to share your desires, ask questions, and get to know your CB Caine Realtor®.

If you require certain features such as a swimming pool, wheelchair access, or even skylights, please be sure to discuss your needs fully with your CB Caine Realtor®. They will work with you to find homes with these features.

At the initial consultation, your CB Caine Realtor® will outline the homebuying process and review the necessary paperwork that is unique to our marketplace. Having this information from the beginning will allow you to move forward confidently and quickly when you decide to make an offer.

We know luxury.

Looking for a luxury property?

The Coldwell Banker Global Luxury® program is among the most successful names in high-end real estate, powered by agents in 40 countries who deeply understand this unique market’s intricacies and clientele.

In 2023, Coldwell Banker sold over $200 million in luxury listings every day and over 39,000 $1M+ properties for the year.1 Our luxury agents are certified to provide unrivaled service to their luxury clients and are connected to a referral network of Coldwell Banker Global Luxury® agents worldwide.

For our clients buying in this exclusive price point, there is no partner better suited to bring you success.

Determine your price range.

Most sellers will require documentation proving you have the financial ability to purchase the home. If you are paying cash, this can come in the form of a letter stating you have sufficient funds to purchase. If you are getting a mortgage, this can be either a prequalification or pre-approval letter from your lender.

What is a mortgage?

A mortgage is an advance of money from your lender that will cover the finances of your new property. Over an extended period of time, you (the mortgagor) must pay the bank back each month a percentage of the money they lent you plus interest, until the total sum is paid in full. This is how most homes are financed.

What is the difference between pre-qualification and pre-approval?

Pre-qualification is not a mortgage approval, but simply an estimate of what you can afford. When you pre-qualify for a mortgage, the lender also collects basic information regarding your income, monthly debts, credit history and assets, and then uses this information to calculate an estimated mortgage amount. The lender has not yet committed to, nor have you received, an actual guarantee of funds.

Buyers who are pre-approved for a mortgage are often more attractive to sellers and have a better chance of getting the property when they make an offer.

Pre-approval uses basic information as well as electronic credit reporting to determine whether a lender will loan you money. If you are pre-approved, the lender has given you a commitment to support your new purchase.

Knowing your budget.

Before talking to a lender, have a monthly payment in mind that fits your budget. Your lender will ask questions to understand your financial position and calculate the purchase price. Remember to keep some money in reserve for first year expenses including updates, renovations, maintenance, and repairs.

Here are some of the expenses you will carry:

Down Payment

Most homeowners contribute a down payment when purchasing a home. The down payment is a percentage of the purchase price that the buyer pays in full before closing. The larger the down payment, the smaller your mortgage will be.

Cost

There are quite a few costs involved when you’re buying a new property. Make sure you understand how much each cost is and factor them into the final budget. Here are some examples of these costs:

Monthly Costs: The calculation of your entire monthly costs including the mortgage, insurance, taxes, etc. Don’t forget expenses and bills for your home and maintenance.

Points: Borrowers have the opportunity to reduce the interest rate on their mortgage by paying points at the beginning of the loan. One point is one percent of the new loan.

Additional Fees: Your lender can help you understand any additional fees you may incur.

New Home Expenses & Repairs: Even with a thorough inspection and seller repairs, you will likely have repairs and maintenance costs arise upon move-in.

The fun begins.

You have all of your financial papers in order. You’ve been preapproved for a mortgage, and you’ve calculated your budget. Now it’s time to have some fun finding your next home.

The Home Finding Needs Worksheet

Can you picture your dream home? Does it have a huge backyard? Is it maintenance free? What size home fits your lifestyle? What neighborhood features are important to you? How long would the commute be? Is it important to have a certain school or healthcare system nearby? Do you want to live by a lake, within walking distance to a coffee shop, or in a community with a neighborhood pool? These are just a few of the questions you should consider before you begin your search.

Remember, the more you know about what you’re looking for, the quicker you’ll find the perfect match.

You can use our Home Finding Needs Worksheet to help prioritize wants and needs in your new home. Take some time, fill out the worksheet and have some fun. Your dream home is just a few steps away.

Tour homes.

During your buyer consultation, your Coldwell Banker Caine Realtor® will discuss their role in helping guide you through the home buying process. The goal is not only to help you find the right home but to also make sure you don’t miss anything or pay too much. This is accomplished through process of elimination rather than through a process of selection.

Homes available only to a Realtor® through the MLS as well as upcoming listings, new construction and For Sale By Owner properties filter through search parameters determined during your initial consultation and ongoing selection process to eliminate properties that do not fit your needs. You and your Coldwell Banker Caine Realtor® will work together to eliminate more by viewing them online or driving by them.

Open houses are a great way to get a feel for a specific property or neighborhood. If you would like to tour open houses, please ask your Coldwell Banker Caine Realtor® to inform you of upcoming open houses. They would love to attend with you and/or provide you information about the house and the neighborhood.

Using digital tools.

Coldwell Banker Caine offers a wide range of digital tools to help you and your Realtor® during your home search. Through these resources, your Realtor® will better understand which homes you like and push new listings to your inbox as soon as they come on the market.

cbcaine.com

The Coldwell Banker Caine website is linked directly to the local MLS systems ensuring you have access to the most current listing information. Save searches and favorite homes to your account, and reach out directly to your Realtor® for more information or to schedule showings.

coldwellbankerluxury.com

Coldwell Banker is a global leader in luxury real estate with a network of 100,000+ independent sales associates in 43 countries and territories. The Coldwell Banker Global Luxury program showcases exceptional properties to affluent buyers around the world through state-of-the-art technology and bespoke marketing strategies.

Dotloop

For signing agreements with ease and accessing documents wherever you are.

Make an offer.

Once you find a home, you will make an offer to purchase the home from the seller. To reach an agreement, you will be considering more than just price.

Typically, an offer includes the following information:

• Proof of funds, or pre-qualification/pre-approval letter

• Earnest money - a deposit made with the seller representing good faith in your promise to purchase the home*

• Termination fee - A fee paid to the seller if you decide to terminate the contract during a specific time frame.

• The amount you are willing to pay, known as the “Purchase Price”

• Mortgage amount (if any) and type of financing that you must receive in order to purchase the home

• Contingencies, including the mortgage commitment, appraisal and inspections

• Inspections include, but are not limited to: structure, mechanical, termite, CL-100, pest, radon, well, septic, lead, environmental and oil tank

• Seller concessions such as seller-paid closing costs and/or sellerpaid home warranty

• Personal property specifically included or excluded (refrigerator, washer/dryer, drapes, area rugs, plants in movable containers, grills, etc)

• Closing and occupancy dates

Discuss current market dynamics with your Coldwell Banker Caine Realtor®. If sellers often receive multiple offers on homes in your desired neighborhood, your Realtor® can help you make the most competitive offer upfront. If the seller counters your initial offer, your CB Caine Realtor® will provide strong assistance and advice during the negotiating process.

When all parties have agreed to the terms and have signed/delivered the paperwork, you will be under contract to purchase your home!

*Discuss the Earnest Money and Wire Fraud Disclosures with your Coldwell Banker Caine Realtor®

Repair and appraisal negotiations.

Getting your home under contract is exciting, but you are not done yet! Unfortunately, these next two steps can be the reasons that transactions never make it to the closing table. But don’t worry, your Coldwell Banker Caine Realtor® will guide you through the process.

Inspections and Repairs

It is highly recommended that you hire licensed inspectors to thoroughly inspect the home. Once inspections are complete, your Coldwell Banker Caine Realtor® will help you navigate the thorough and often lengthy inspection report to create a list of requested seller repairs. The seller may counter the request based on their ability to make repairs, and negotiations may continue until an agreed-upon repair list, or renegotiated contract terms, are signed by all parties. The seller is responsible for making any agreed upon repairs prior to closing.

It is wise to save a reserve of funds for maintenance and repairs upon move-in. You will live in and utilize your home differently than the previous owner and their obligations for repairs end at closing.

Appraisals

If you are purchasing the home by obtaining a mortgage, the lender may require an appraisal. The buyer has the option of having an appraisal done for a cash purchase. An appraisal is an opinion of value at a specific moment in time.

Should the appraisal come in lower than the agreed upon purchase price and the contract is contingent upon appraisal, your Realtor® will offer options on how to proceed. Buyers and sellers may agree to negotiate amended terms based on the new appraised value. If you are financing the home, there may be an opportunity to apply for a different loan or contest the appraisal. Each situation is unique. Feel confident that your Coldwell Banker Caine Realtor® can help you navigate this complex situation and outline your available options.

Close and move in.

Congratulations, you’re almost there! Here are a few reminders to make the closing process smoother:

Utilities and Mail: A week prior to closing, remember to contact utility companies (including your security system) and turn on your utilities for the day of closing. Also, remember to forward your mail to your new address.

Final Walk-Through: Your Realtor® will schedule a final walk-through prior to closing to ensure repairs have been completed, details of the contract have been fulfilled, and the home is completely vacated and clean.

At closing:

• The attorney or closing coordinator receives the buyer’s mortgage funds and down payment or cash to purchase the home.

• To determine the amount of money you will need to bring to closing via a certified check, the attorney adds your down payment (or cash to purchase) plus all closing costs, minus any earnest money deposit that has already been paid to escrow. This amount should be clearly presented on the closing disclosure for your loan the lender is required to give to you a few days before your loan closing.

• The attorney will record the transfer of the deed into your name.

• Once the deed is recorded, you will receive keys to the property and be allowed to move into the home. The seller will receive their proceeds and the attorney will pay off their mortgage. The seller will then have no claim on nor obligation toward the home.

• At closing, please be sure to obtain garage door openers, remote controls, appliance/technical instructions, apps, passwords and warranties and any other items to help you settle into your new home. Remember, after closing, the home is yours and all repairs, etc, are the new homeowners’ responsibility.

• Now, it’s time to move in and make it your own! If you need help with painters, stagers or other contractors, please call on your Coldwell Banker Caine Realtor®. They would love to help you find the right vendors for all your needs.

Representing you would be an honor.

The Coldwell Banker Caine brand is home to those agents and clients who expect more from a real estate company.

Our clients are more than just another transaction. We work hard to be the very best and earn your partnership for life.

We believe that you deserve a company and an experience that is as exceptional as you are.