STUART STEELE REALTOR®
OPENING DOORS OF OPPORTUNIT Y
925.890.4909 • stuart@dudum.com • stuartsteele.com • DRE# 01158988
MEET STUART STEELE While Stuart Steele offers real estate services to the entire San Francisco Bay Area, his special focus is the “Tri-Valley”, frequently called the East Bay. He knows that the real estate market in this area is fast-paced, complex and competitive, and he has successfully helped buyers and sellers navigate this market to achieve their housing goals. When you work with Stuart you’re partnering with a great REALTOR®, a skilled negotiator and an advocate on your behalf. His clients can attest to his outstanding communication skills, keen market knowledge and process management. Read Stuart’s Reviews Stuart Steele’s background as a marathon runner and master swimmer demonstrate his tenacity and discipline. He also leverages his reputation for honesty and integrity with his colleagues to the benefit of his clients. Those relationships and the trust he has built creates smoother and more timely closings. As a Global Relocation Specialist, he has been specially trained to assist transferees moving into or out of the area. When it comes to selling your property, listen carefully to Stuart’s advice and ask to see his Unique Marketing Plan. With a few relatively minor fixes and his marketing strategies, your property will attract multiple qualified buyers that will maximize the selling price. Buying a property in this real estate market can be an exciting, stressful and complex process. Stuart’s expertise in housing values and his care for your best interest will help you reach your goals. He listens carefully and can match your vision to the home of your dreams. He can suggest a reputable lender should you need a mortgage, advise you of market values and coach you on making a strong offer. Stuart Steele has chosen to partner with Dudum Real Estate Group for their relevant market data and elegant marketing materials. Call Stuart today, let him show you the vibrant, welcoming and unique community that he loves.
A PROVEN TRACK RECORD OF SUCCESS 29 Diablo Ridge Ln., W.C.
137 Parkhaven Dr., Danville
50 El Camino Terrace, W.C.
243 Weber Ln., Danville
132 Allanmere Ct., San Ramon
50 El Camino Terrace, W.C.
4524 Sweet Water Street, Antioch 5205 Ridgevale Way, Pleasanton
29 Diablo Ridge Lane, W.C.
6005 Westside Dr., San Ramon
3849 Aragon Ln., San Ramon
27 Alder Avenue, W.C.
176 Alta Vista Way, Danville
120 Summerfield St, Danville
1335 Le Havre Ct., Livermore
1544 Las Trampas Rd, Alamo
6 Tyler Ct..., Danville
1033 Hill Meadow Pl., Danville
6730 Corte Tercera, Martinez
1391 Stoney Creek Dr., San Ramon
600 Oakshire Place, Alamo
469 Le Jean Way, W.C.
5220 Fioli Loop, San Ramon
842 Holly Hill Dr., W.C.
600 Oakshire Pl., Alamo
815 Bandol Way, San Ramon
213 Aptos Place, Danville
7317 Bower Lane, Dublin
135 Crestridge Dr.., Danville
200 Edinburgh Cir, Danville
3684 Shenandoah Ct., Pleasanton
1414 Cortez Ct., W.C.
2262 Dapplegray Ln., W.C.
15 Holcomb Ct., W.C.
3699 Malcolm Ave., Oakland
98 Dubost Ct., Danville
70 Trish Ct., Danville
15 Holcomb Ct., W.C.
12235 Toluca Dr., San Ramon
2151 Geary Road, W.C.
174 Alta Vista Way, Danville
1033 Hill Meadow Place, Danville
5623 Applegate Way, Dublin
1776 Maralisa Ln., Livermore
35 Foothill Ct., Danville
4604 Sarah Ct., Livermore
6836 Amador Valley Blvd, Dublin
2046 Fostoria Cir., Danville
130 Virginia Ct., Alamo
5623 Applegate Way, Dublin
11562 Manzanita Ln., Dublin
200 Liverpool St, Danville
5 Countryside Ct., Danville
626 El Paseo Cir, W.C.
2711 Corey Pl., San Ramon
1130 Sunshine Cir, Danville 4733 Rollinghills Way, C.V.
509 Winding Brook, San Ramon
231 Firethorn Ct., San Ramon
1032 Winton Dr., W.C.
112 Benjamin Lane, Danville
759 Contada Cir, Danville
4373 Rutgers Ct., Livermore
58 Haskins Ranch Ci, Danville
2005 Chadbourne Ct., Danville
2113 Brampton Ct., W.C.
1096 Lehigh Valley Cir, Danville
1105 Sunshine Cir, Danville
1923 Trenton Ct., W.C.
509 Winding Brook, San Ramon
22 Cobblestone Ct., San Ramon
1544 Las Trampas Rd, Alamo
1009 Windsor Dr., Lafayette
4830 Lodi Way, Castro Valley
93 Greenock Lane, Pleasant Hill
9457 Thunderbird Pl., San Ramon
33 Green Gables Ct., Danville
542 Selby Ln., Livermore
3359 Walnut Ave, Concord
19170 San Miguel Ave, C.V.
1001 Horizon Ct., Danville
7474 Hillsboro Ave, San Ramon
1116 Delta Way, Danville
8665 Bloomington Ct., Dublin
1009 Windsor Dr., Lafayette
112 Golden Hills Ct., Danville
454 Winfield Ln., Danville
2639 Marsh Dr., San Ramon
35 Foothill Ct., Danville
4604 Sarah Ct., Livermore
60 Haskins Ranch Cir, Danville
433 Roanoke Dr., Martinez
12 Campbell Pl., Danville
6836 Amador Vly Blvd., Dublin
2065 Canyon Lakes Dr., S. Ramon
1190 Canyon Side Av, San Ramon
1221 Greenbrook Dr., Danville
4074 Pier Pt, Discovery Bay
124 Laredo Ct., San Ramon
3043 Kansas St, Oakland 101 Franciscan Dr., Danville
4 Mrack Ct., Danville
121 Caminar Way, W.C.
265 Fallview St, San Ramon
112 Benjamin Lane, Danville
346 Fontaine Ct., Danville
414 Triomphe Ct., Danville
10 Sassafras, San Ramon
2858 Vernon Way, San Ramon
542 Selby Ln., Livermore
2890 Morgan Dr., San Ramon
3847 Crow Canyon Rd, S. Ramon
1582 1st Ave, W.C.
174 Alta Vista Wy, Danville
607 Bridgewater Cir, Danville
650 Abrigo Ct., San Ramon
3698 Carlsbad Way, Pleasanton
70 Chardonnay Ct., Danville
112 Luella Dr., Pleasant Hill
220 Glorietta Bl, Orinda 1204 Robyn Dr., Danville
3151 Kirby Ln., W.C.
626 El Paseo, W.C.
303 Cliffside Dr., Danville
15937 Cambrian Dr., San Leandro
1032 Winton Dr., W.C.
46 Stoddard Ct., Danville
6413 Tiffany Cm, Livermore
15 Cross Bridge Ct., Danville
402 Ivy Ln., Pleasant Hill
500 Glasgow Cir, Danville
1391 Stoney Creek Dr., San Ramon
2798 Lakeview Dr., San Leandro
155 Richard Ln., W.C.
2866 Calais Dr., San Ramon
4294 Milton Way, Livermore
2113 Brampton Ct., W.C.
176 Canyon Lakes Wy, S.Ramon
4524 Sweet Water St, Antioch
3732 Finnian Way, Dublin
948 Monet Cir, W.C.
193 Lasata Ct., Danville
611 Abrigo Ct., San Ramon
1578 Sunnyvale Ave, W.C.
1043 Hill Meadow Pl., Danville
1770 Sunnyvale Avenue, W.C.
20073 Santa Maria Ave, C.V.
3159 S Francisco Way, Antioch
1804 Eagle Peak Ave, Clayton
1776 Maralisa Ln., Livermore
101 Linhares, Alamo
265 Fallview, San Ramon
1236 Robyn Dr., Danville
8205 Mallard St, Danville
3746 Norris Canyon Rd., S. Ramon
2218 Southwest, Martinez
5231 Crestline Way, Pleasanton
1074 Bellamy Ct., W.C.
2687 Marsh Dr., San Ramon
5962 Bryce Cyn Ct., Pleasanton
51 Sugar Pine Ln., Danville
3104 Sombrero Cir, San Ramon
310 Lee Ave, Livermore
1414 Cortez Ct., W.C.
A complete list of Stuart’s transactions is available upon request.
STUART’S FIVE-STAR ZILLOW REVIEWS HHHHH
HHHHH
“HE DELIVERED.”
“HE WAS OUR LIFESAVER.”
“Stuart Steele is absolutely fantastic. He sold our neighbors’ house in record time with multiple offers, so we were familiar with his results. As soon as we listed with him, he hit the ground running. He had a vision for how our house should be presented and I am glad we trusted his expert advice. He just knows what works. He is very intelligent, well-organized, methodical and tireless. He was on top of every detail, in constant communication, and he DELIVERED. Plus he’s such a sweet, charming, humble, nice man. Such grace and kindness, but still a steady, firm negotiator. We were so lucky to have him in our corner. He had our house sold in record time with
“I am so thankful to have Stuart as our agent. My husband and I, with two small children, decided to move from CT to CA for job relocation. We didn’t know anything about the East Bay and it was a bit scary to buy a home in an unfamiliar area. And then, we met Stuart. He was our lifesaver. He guided us through the whole process of searching and buying house with his great knowledge and helped us understand how the housing industry works, so we could make our decisions with confidence. The closing process was also amazing. He navigated with full speed, so that we could meet our tight timeline, and at the same time, he used his best negotiation skills to get the best price for us! Stuart is just
multiple offers and we couldn’t be happier!”
HHHHH “IF WE COULD GIVE 10 STARS, WE WOULD.” “If we could give Stuart 10 stars, we would. He did an amazing job selling our home. It was sold in 1 day, he negotiated terms to our liking and we closed in 30 days. Stuart is great on followthrough, response to calls and questions, and is very attentive; not to mention how easy and comfortable he is to work with. We couldn’t be more satisfied and would definitely recommend him as your next REALTOR.”
amazing! Thank you, Stuart!”
HHHHH “THE RIGHT CHOICE...” “Stuart is amazing! He sold our first house and helped us find our current home. Very professional, patient and knowledgeable. He did such a great job, we have referred him to (at least) 3 of our friends/neighbors for their home transactions. Each referral has found Stuart to be exactly as we said he would be — the right choice for a real estate person.”
More testimonials available at https://www.zillow.com/profile/stusteele/
YOUR COMPREHENSIVE GUIDE TO BUYING A HOME You are about to embark on an exciting journey of finding your next home. Dudum Real Estate Group’s in-depth guide offers home buyers a detailed overview of the process of buying a home. Throughout the entire process, your Dudum Real Estate agent will support you every step of the way, and will even continue to serve you long after you move in. This package has been prepared for you to help explain the process and help you familiarize yourself with the various activities, documents, and procedures that you will encounter while purchasing your home. Purchasing a home is a very important decision and one of the biggest financial decisions you will make in your life. In fact, most people only buy a few homes in their lifetime. We have the tools to make sure that you are well-equipped with up-to-date information to aid in your decision. We hope you find this home buying guide a valuable resource on your journey. Dudum Real Estate Group has the experience, market knowledge, and resources to support you in achieving your dreams of home ownership and we look forward to the opportunity of working with you.
HOME BUYING BUYING A HOME IS A BIG DECISION The more prepared you are at the beginning, the less overwhelming and chaotic the buying process will be. From the initial planning to selecting the home that’s right for you, there are many steps throughout the buying process. At Dudum Real Estate Group, we are here to guide you through every step of the process.
HERE ARE SOME INTERESTING POINTS FOR YOU TO REVIEW: A buyer’s agent represents the consumer who is purchasing the property in the real estate transaction, not the seller. The buyer’s agent works directly for the buyer and has their clients’ best interests in mind throughout the entire process. Purchasing real estate is a complex transaction with many details that must be handled appropriately. In the majority of home sales, the seller will have their own representation. Wouldn’t you want to have equal, complete, and fair representation in the real estate transaction on your end as well?
AN OVERVIEW OF THE PROCESS • • • • • • • • • • • • •
Selecting the right lender to help navigate the loan process Forming a “wish list” Implementing a home search Homework (studying the neighborhoods) Making an offer and explaining the complexities of a contract Discussing the importance and risks of your earnest money deposit Negotiating throughout escrow process (purchase price, repairs, timelines, etc.) Inspections/appraisals Contingency removals Moving preparation and relocation assistance, if needed Close of escrow Your big move! After close/getting settled follow up
“We never would have thought of anyone but Dudum Real Estate Group to escort us through our journey of buying a home. Their insight and patience meant so much to us. We always felt we were in great hands.” THE AHITUV FAMILY
DUDUM REAL ESTATE GROUP Opening Doors of Opportunity Dudum Real Estate Group was founded in 2010 by Julie Dudum Del Santo and is one of the preeminent and finest independently owned real estate brokerages in the East Bay. With offices in Walnut Creek, Lamorinda, Danville, and Brentwood, Dudum Real Estate Group is comprised of highly motivated, resourceful, and successful real estate professionals who work collectively to give our clients the best possible real estate buying and selling experience. At the core of our business philosophy is a commitment to extraordinary service, cooperation, honesty, and communication. Our dynamic group equips and educates ourselves regularly so that you can always rely on the accuracy of the information we give you. We are geographically situated throughout the communities in which we serve and we utilize many networks, modern real estate tools, and resources to guarantee that our clients gain the quickest, most complete, and reliable access to properties throughout the East Bay. Our team of knowledgeable and competent experts cover a wide territory from the Oakland/Berkeley area, continuing east along Highway 24, throughout Lamorinda, the communities along both sides of Highway 680 up to 580, as well as East County serviced by Highway 4.
BUYER REPRESENTATION Dudum Real Estate Group is one of the fastest growing and leading real estate companies in the greater East Bay.
A PROVEN APPROACH At Dudum Real Estate Group, we believe buying or selling a home requires a wide array of skills and expertise to ensure that our clients have a clear advantage in an often unexpected real estate market. We continuously look to build upon our expert knowledge so that we may effectively understand current opportunities and challenges in the industry. Our agents are focused on delivering unparalleled results and are committed to exceeding our clients’ expectations with our professionalism, industry knowledge, and innovation. When you work with Dudum Real Estate Group, you’ll have an experienced team from start to finish, who are all dedicated to delivering beyond stellar results.
THE POWER OF NEGOTIATING The art of negotiation is being able to walk away. The skill is not having to. Our goal is to help you buy the right property at the best price.
YOUR INTERESTS COME FIRST Buying a home is one of the most important purchases you will make in a lifetime and working with the right agent to make this happen is crucial. At Dudum Real Estate Group, you will have a partner in the process who will work diligently and effortlessly with you to ensure that this goal is fulfilled and that your best interests are favored. In this process, keep in mind negotiation is a complex matter and all transactions are unique. Your agent will work with you to get the home you want — at the best possible price.
FINDING THE RIGHT HOME: THE SEARCH BEGINS Your Dudum Real Estate Group agent will help begin your search by narrowing your preferences to determine what homes fall within your particular parameters (affordability, size, and neighborhood). We will enlist all of the resources available to us including Multiple Listing Service (MLS), offmarket properties, new construction, Realtors In Motion Marketing Meetings, agent-to-agent networking, open houses, as well as HUD and bankowned properties. Your agent will also offer you the opportunity to be included in daily listing alerts, notifying you of properties that meet your criteria as they hit the market.
REAL ESTATE AT YOUR FINGERTIPS Our website is another great resource for information. You will find current homes for sale, open home calendars, market trends, statistics, and community information. Our Dudum Mobile App will put the latest listings in the palm of your hand and even guide you to all of the available homes around you, no matter where you are in the East Bay.
DUDUM.COM
We maintain a strong online presence through Dudum.com which has powerful searching tools, community reviews, marketing resources, and listing alert capabilities. Our website and blog attract over 20,000 unique visitors annually.
DUDUM MOBILE APP
Our mobile app provides the most accurate and up-todate property information at the touch of a screen! You can access the property information you need including price, features, photos, and more! You can search listings, save properties, or share them with family and friends.
QUESTIONS TO CONSIDER
PREVIEWING PROPERTIES FOR YOU
• When would you like to move? • How long have you been looking? • What do you like most about your present home? • What do you like least about your present home? • What neighborhoods do you like? • Are schools a factor? If so, which ones? • What style of home would you like (i.e. traditional or contemporary)? • What property condition are you looking for (i.e. fixer-upper, new construction)? If interested in new construction, please ask your agent about that specific process. • Is your home currently on the market? How long has it been on the market? What is the asking price? • Do you need to sell your home to buy? • Do you need to be near public transportation or highways? • Do you prefer to be in a location with close proximity to amenities? • Are you the sole buyer or do you have partners? • What features are you looking for: detached, condominium/loft, multiple units (flats), bedrooms (#), baths (#), square footage, separate dining room, eat-in kitchen, pool/no pool, etc.
Whenever possible, your agent will preview properties before showing them to you to ensure they meet your criteria. While your agent will arrange a time to view new listings, keep yourself available to act on short notice when desirable or well-priced properties become available.
WEEKEND OPEN HOUSES You may wish to attend Saturday or Sunday open houses on your own. When doing so, please inform the agent holding the open house that you are working with a Dudum Real Estate Group agent and provide him or her with your agent’s name.
BROKER TOURS/CARAVANS Each Tuesday, Thursday, and Friday in the East Bay, new property listings are open to agents and brokers for viewing. Your agent will be attending those tours regularly and preview these homes with your specific wants and needs in mind. If there is a new listing that is appropriate for you, your agent will provide you with the address and arrange for a showing at your earliest convenience.
THE BEST APPROACH TO VIEWING A PROPERTY Each time you view a property, compare that property’s characteristics to your search parameters. If a specific home falls short on your desires, consider whether you can alter the home to make it acceptable. Some features are impossible to change, such as location, but other features can be changed or modified by painting, remodeling, or possibly making structural alterations.
FINANCIAL AND EMOTIONAL CONSIDERATIONS Once you have identified the property that meets your criteria and are prepared to make an offer, you will meet with your agent to discuss the best offer strategy. Is this property extremely desirable — one that could invite multiple offers? If the seller counters your offer and asks for a higher price, what is your top dollar? Does the property need improvement? How motivated is the seller? How motivated are you? What contingencies have you placed on the offer? Do you have to sell a property in order to purchase this one? Are you already pre-approved for a loan?
FINDING THE ONE When you see a property that meets most of your criteria and is a likely prospect, ask additional questions.
POSSIBLE QUESTIONS TO ASK SELLER Consult your agent to guide you through the following: Q. Are there any up-f ront inspections/ disclosure packets/reports? The seller may have a recent pest control, general contractor’s inspection, disclosures, or other reports available for review. Q. What is the condition of the plumbing, heating, electrical system, and roof? If these systems are old, the cost to repair or replace should be considered and possibly included in your offer terms. Q. Are there any signs of dampness or drainage issues? These conditions can be difficult and expensive to correct, but should always be asked and taken into consideration should there be any indication of such issues. Q. Were improvements made and were they done with permits? Many properties in the East Bay have had improvements or additions completed without the benefit of permits and may or may not comply with local building and zoning codes. We can sometimes obtain a full disclosure package from the listing agent, which should include details on property improvements. Some of these answers may require a visit to the local city or county offices, and are not always able to be obtained prior to making an offer.
THE HOME BUYING PROCESS The home buying process is filled with many details that can greatly impact your experience. Your Dudum Real Estate Group agent will help by working with you and the appropriate vendors to properly guide you to a successful close.
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DUE DILIGENCE
OPENING ESCROW
• Understand your objectives, priorities, and time frames • Discuss buying process overview • Examine local market conditions • Discuss lending qualification • Define agency relationship • Define how we will work together
• Tour properties that meet your home search criteria • Monitor market activity with listing alerts • Leverage dudum.com network for upcoming listings available for preview • Identify off-market, for-sale by-owner, and expired listings
• Buyer to choose and pay for escrow • Order preliminary title report (title company) • Deposit buyer’s funds into escrow account
LOAN PRE-APPROVAL
MAKE AN OFFER
SUBMIT HOME INFO TO LENDER
INSPECTION REVIEW
INSPECTIONS AND PROPERTY CONDITION • Conduct buyer inspections: property, pest, chimney, roof, pool, etc • Conduct second review of seller disclosures • Review Homeowner’s Association documents, if applicable
• If issues or concerns are discovered during inspections, we may attempt to negotiate repairs, credits or renegotiate price.
HOME INSURANCE • Buyer selects home insurance company and coverage • Submit insurance information to escrow
• Submit purchase contract to lender for processing • Schedule appraisal • Confirm contingency removal and loan condition dates
and discuss offer strategies • Review and sign all available disclosures and reports • Prepare detailed offer package including bank statements, introductory letter, and loan pre-approval • Present offer package and purchase contract in person, when possible • Negotiate the best possible price for your new home
• Underwriting file review • Appraisal completed and reviewed by lender • Final financing approval by lender
• Review comparable sales
letter from lenders • Determine budget and price range for home based on income, assets, and personal financial plan • Meet with tax and financial professional to understand benefits and ramifications of prospective purchase
LOAN UNDERWRITING AND APPRAISAL
• Obtain loan pre-approval
HOME SHOPPING
INITIAL CONSULTATION
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GETTING STARTED AND FINDING YOUR NEW HOME
CONTINGENCY REMOVAL • Upon complete client satisfaction with inspections, disclosures, loan documentation, and all other contractual obligations, contingencies will be removed
4
• Set up utilities: electricity, water, garbage, phone, internet, alarm, etc • Contact HOA office to schedule move-in, if applicable • Schedule move
• Review all closing and transaction costs • Sign loan documents • Provide cashier’s check or send wire for down payment and closing costs • Lender sends balance of funding to title company one business day prior to close
FIRST THINGS FIRST
RECORD AND CLOSE ESCROW • Deed is recorded in person at County Recorder’s office by title company representative • Obtain keys to your new home
SETTLING IN
• Change all locks on all doors and update security system, if applicable • Complete any planned repairs or improvements • Get acquainted with your new neighborhood and community
• Attend HOA meetings and meet your neighbors • Unpack, unwind, and enjoy your new home
• Provide resources for aftersale homeowner needs • Be a referral resource for friends and family seeking this same great first-class service
AFTER SALE SERVICE GETTING ORGANIZED
MOVING DETAILS
SIGN OFF AND LOAN FUNDING
• Confirm property condition and completed repairs, if any • Property condition should be consistent with condition on date of ratification • Review walk-through checklist
FINAL WALK-THROUGH
CLOSING
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POST TRANSACTION
• Update estate plan and trust • Review all appliance and warranty materials • Schedule future required maintenance (re-seal counters, change/clean filters, etc) • File home warranty plan • Note upcoming property tax payments and supplemental property tax bill
MAKING THE OFFER Your Dudum Real Estate Group agent will help you construct a winning offer, taking into account current market conditions, competition, and fair market value.
SEVERAL FACTORS SHOULD BE CONSIDERED IN YOUR OFFER Purchase price. Having viewed other comparable properties, you will have a good idea of the value of your prospective home. Your agent can provide you with information about similar properties (comparables) in the neighborhood that have sold recently. This information will help establish fair market value and guide you to the right price. Loan contingency. If you are obtaining a loan to finance the purchase of your home, your agent will structure a contract to allow reasonable time to obtain a loan from a lender of your choice and at terms which are acceptable to you. It often takes 2-3 weeks to obtain a loan commitment. Inspections. In the majority of transactions, offers are made contingent upon obtaining and approving inspections on the property by licensed professionals. This is to inform and protect the buyer about known and unknown conditions. We generally recommend that two major inspections be conducted at a minimum: pest control and home, but some homes may warrant a sewer lateral, roof, chimney, pool, soils, drainage, well, etc.
Personal property. It is important to clearly identify all personal property that will be included or excluded from the sale.
PRESENTING AND NEGOTIATING YOUR OFFER Your Dudum Real Estate Group agent will represent you to the seller and seller’s agent in the best light possible to obtain an accepted offer. When presenting your offer, documents such as a loan pre-approval, financial statements, or other proof of funds are necessary for a complete package. Often times a personal note or photo from you, the buyer, can really add a nice touch and set you apart from the competition.
SUBMITTING YOUR DEPOSIT A good faith deposit must accompany your offer. This is usually a personal check or bank wire to a title company of your choice. Your agent will make arrangements for you to deposit your check directly with the escrow company and into the designated escrow account. Buyers can also electronically transfer funds into escrow once offer is accepted.
ESCROW PROCESS Once your offer to purchase a home is accepted, the escrow begins. The mortgage lender orders the appraisal, copy of the preliminary title report, copy of your purchase agreement, and other supporting documentation. As it comes in, the documentation is checked for any irregularities and any additional items needed are requested.
APPRAISAL The appraisal is completed by a third party individual who is hired by your lender to generate a report that demonstrates to you, as well as the lender, that your home is worth what you are paying for it. This fee will be included in your closing cost figures provided by the lender.
LOAN SUBMISSION Once all the necessary documentation is in, the loan processor puts the loan package together, your loan agent prepares a cover letter, and your completed file is submitted for approval.
LOAN APPROVAL (UNDERWRITING) Loan approval, or underwriting, generally takes anywhere from 24-72 hours, and it may take slightly longer if mortgage insurance is required. Mortgage insurance
underwriting occurs when the borrower has less than 20 percent of the loan amount to put toward a down payment, and the lender then may require additional insurance for your loan. All parties are notified of the approval and any loan conditions that must be received before the loan can close. You may remove your loan and appraisal contingencies after all conditions are met.
LOAN DOCUMENTS ARE DRAWN Within 1-3 days after loan approval, the lender prepares your loan documents (including the note and deed of trust), which are sent to the title/escrow company. The escrow officer will call to set up an appointment when the papers are ready for your final signature. At that time, the escrow officer will tell you how much money you need to close escrow. CLOSING Once all buyers have signed the loan documents, they are returned to the lender and the package is reviewed. If all forms have been properly executed, the lender sends the loan funds by wire transfer. Upon receipt of the wire, and once all buyer funds required to close are at the title company, the deed is released to be recorded at the county. This is the point at which you actually own your new home. Congratulations!
THE LOAN PROCESS For buyers financing their home, planning is crucial. This is one of the very first steps in home buying. Several factors should be considered to assure the loan process goes smoothly.
APPLICATION PROCESS
PRE-APPROVAL FOR A LOAN
You will sit down with a lender or mortgage broker who will ask you to complete a mortgage application and provide copies of your income and asset verification. Various fees and the down payment will be discussed at this time and you will receive an estimate for your closing costs.
An offer is not considered strong if it lacks a pre-approval letter from a reputable lender or local mortgage broker. A letter of approval or proof of funds assures the seller that you will be able to obtain the proposed financing and will not tie up the property needlessly. Lenders will inquire about the following six critical factors: • Income
QUICK TIP! • 2 YEARS OF TAX RETURNS • 2 PAYSTUBS • 2 W2S • 2 RECENT BANK STATEMENTS
• Savings / capital / investments • Credit history • Debt level ratio • Employment history • Value of the home you wish to purchase Your Dudum Real Estate Group agent can recommend several reputable lending institutions from which you may obtain pre-approved financing.
YOUR LOAN IS A PHONE CALL AWAY... At Dudum Real Estate Group, we have a long and successful relationship with Rick Olson, of Commerce Mortgage. This is a direct benefit to you, the client! Over the years, loans have become increasingly difficult to process and approve. Having Rick in-house keeps him and his staff only a phone call away for all of our clients. Whether it be an appraisal concern or a last minute underwriting need, this service allows us to maintain a high level of control for each file. Rick does everything he can to assure borrowers receive the highest level of product knowledge and service that can be offered. Rick has been an integral part of the mortgage industry for over 25 years. Working with CHM has given him the tools he needs to help all of his clients achieve their dream of homeownership. His nationwide network of mortgage lenders and wide range of home financing options means he can provide his clients with access to the lowest rates possible. He looks forward to the opportunity to earn your business!
Direct: 925.627.2555 Fax: 925.476.0366 rolson@commercemtg.com 100 Pringle Avenue, Ste. 650 Walnut Creek, CA 94596
LIFE OF AN ESCROW Once your contract is accepted, the escrow begins. Working closely with your agent, title company, and lender will ensure a smooth and successful transaction.
Broker/Client Opens Escrow
Order Preliminary Report from Title Company
Order Statements of Identity on Buyers and Sellers and Clear General Index Matters
Receive and Review Preliminary Report
Order Beneficiary Statements at Client's Request
Order Seller Loan Demands
Receive Demands and Review then Notify Client
Receive Beneficiary Statement, Review Terms of Transfer, Notify Client
Forward Bills from Termite, Roofers, Appliance Inspection, and Home Warranty to an Escrow at Direction of Client
Receive Loan Documents from Lender
Prepare Buyer's and Seller's Instructions, and Any Pertinent Documents
Call Brokers or Clients for Terms
Execute and Return Buyer's and Seller's Instructions and Documents with Funds
Review File to Determine That All Conditions Have Been Met, All Documents are Properly Executed and Notarized, and Good Funds are Received
Request Loan Funds from Lender
Forward Documents to Recording Desk "On Hold"
Do Policy Write-Up
Receive Loan Funds
Order Recording Audit Escrow
Prepare Closing Statements and Closing File, then Disburse Funds
INSPECTIONS ARE IMPORTANT! Once an offer is accepted and the transaction is officially in contract, the contingency period begins. A home inspection is an all-encompassing examination of the condition of a home and is an important step in this process.
THE INSPECTION PROCESS While property inspections provide no warranty, they will educate you as to the current condition of the property. Inspections are usually requested on the purchase agreement and if inspection results are unsatisfactory, you have the option to request repairs, renegotiate price, or withdraw your offer prior to removing any contingencies. In addition to the professional inspections listed below, you should take a close look at the property yourself. For example, inspect cupboards, doors, windows, flooring, counter tops, bath and kitchen fixtures, built-in appliances, stairways, and banisters. Even spend time in the neighborhood and get to know the community. Your personal diligence is just as important as your professional inspections! • Physical inspection: Usually done by a General Home Inspector, a physical inspection is a thorough inspection of the house. The inspection results in an overall assessment of the present condition of the property. • Pest report: The pest report will indicate any type of wood-destroying organisms that may be present. This includes termites, wood fungus, dry rot, etc. The seller usually provides this report, but if not, the buyer is highly encouraged to obtain one. • Roof
• Pool (if applicable)
• Chimney
• Neighborhood factors and noise (personal diligence)
• Sewer lateral • Structural/engineering • Drainage
• HOA document review (if applicable) • City/county permit history
Your Dudum Real Estate Group agent will work with you to determine which inspections should be conducted. It is also highly recommended that you attend the inspections in person. This is a great opportunity for you to learn firsthand about the condition of the home you are purchasing.
TYPICAL PURCHASE AGREEMENTS CONTAIN THE FOLLOWING CONTINGENCIES FOR THE BUYER: • Seller disclosure statements • Buyers investigation • Inspection contingency (any and all) • Geological and environmental • California tax reports • Appraisal contingency • Loan contingency • Preliminary title report • HOA documents (if applicable) • Insurability of property Once all contingencies are removed, you are effectively obligated to purchase the property. The understanding is that you are purchasing the property in its current condition (subject to any agreed upon repairs by the seller) and are planning to move forward with the purchase. At that point, should you change your mind, your good faith deposit could be at risk. Any failure to perform could result in a loss of all or part of your earnest money deposit.
CONTINGENCY REMOVAL PROCESS Once an offer is accepted, placing contingencies in the contract gives the buyer an opportunity for due diligence to take specific steps within a given time frame. It is essential to meet the specified timeframes and deadlines for each contingency and remove them in writing when due.
CLOSING COSTS: WHO PAYS WHAT? Closing costs are the various fees charged by the lender, the title company, real estate agents, and other service providers in order to complete a real estate transaction and are paid through escrow. Which party pays for specific closing costs can be negotiable between the buyer and seller.
THE BUYER CUSTOMARILY PAYS:
THE SELLER CUSTOMARILY PAYS:
• Title insurance premiums • Escrow fee • Document preparation (if applicable) • Notary fees • Recording charges for all documents in buyers’ names • Tax proration (from date of acquisition) • All new loan charges (except those required by lender for seller to pay) • Appraisal fee • Interest on new loan from date of funding to 30 days prior to first payment date • Assumption/change of records fees • Beneficiary statement fee • Prorated HOA dues (if applicable) • Inspection fees (roof, pool, property inspection, pest, geological, etc.) • Home warranty (according to contract) • City transfer tax (according to contract) • Fire insurance premium for first year
• Real estate commission • Document preparation for deed • Documentary transfer tax • Payoff of all loans against property • Interest accrued on loans being paid off, reconveyance fees, and prepayment penalties • Home warranty (if specified in contract) • Any judgment or tax liens against seller • Property tax proration • Prorated HOA dues (if applicable) • HOA fee for providing all updated homeowner’s documents (if applicable) • Bonds or assessments • Delinquent taxes • Notary and recording fees • Third party Natural Hazard Disclosure Statement & California Tax Disclosure Report • Pre-sale inspection fees • Negotiated credits/repairs to buyer, if any
20-MINUTE FINAL WALK-THROUGH So you’ve purchased a new home and it’s time to take the final walk-through with your agent before the close of escrow. How many of you know what to look for during the final walk through? How many of you have had an agent guide you through the experience with knowledgeable expertise to assure that you’ve covered all the items necessary to help negate any surprises after you move in? Our Broker/Owner, Julie Del Santo, has simplified this process by implementing her proven “Final Walk-Through Checklist.” She’s pared the process down so that it focuses in on the items crucial to buyers’ continued sense of well being after the closing. Take a look at Julie’s list and keep it in mind for your final walk-through. 1. Verify completion of necessary/requested repairs: If the purchase contract called for any negotiated repairs to be performed, this is the time to confirm repairs and verify the work has been completed, ideally to the client’s satisfaction. 2. Get educated on all of the “need to knows”: Have the sellers educate the buyers on all of the property’s systems such as HVAC thermostat, specialty plumbing, alarm systems, pool equipment, appliances (not tested by a home inspector), sprinkler system, surround sound AV equipment (if built in and staying with the property), etc. The sellers have been using these systems regularly and are the best ones to educate the buyer on their functionality, as well as any potential nuances. These are “systems” a home inspector typically does not check during their inspection. 3. Pamphlets, paperwork, manuals, and warranties (keys and remotes, too): The final walk-through is a perfect opportunity to get all of the paperwork, manuals, and information on items in the home. This includes the appliances remaining at the property, heating and cooling system, windows, roof, etc. Be sure to ask for any transferable manufacturer warranty information so that the buyer can fill out the information card and properly mail it in with any payment (if required) to ensure the warranty gets transferred into the new buyer’s name. Arrange a specific place where the sellers will leave this paperwork (possibly a kitchen drawer or closet shelf) and ask that they leave any additional house keys and garage door openers in this location upon vacating.
4. Forwarding contact information: Ask the sellers for permission to possibly give their forwarding contact information to the buyers. This is helpful should the buyer have any questions upon move in, or especially to help expedite the forwarding of any mail that arrives for sellers after the move. Sellers are generally more than happy to provide this information. If a seller is not comfortable with this, then the buyers can always forward any mail to their own agent who can get it to its final destination. 5. Get in the know on your new neighbors: Ask the sellers about their neighbors in a way that shows you’re not looking for “dirt”, but more of a safety/peace of mind advanced knowledge. Simply ask the sellers “if they were going out of town tomorrow, which of their neighbors do they feel most comfortable leaving their house key with, or asking to water their plants and pick up their mail while they are gone?” The buyers will immediately get a good sense of who their neighbors are and who to reach out to, if needed, when they move in. 6. Confirm transfer of utilities: A discussion with buyers and sellers about cancelling and/or setting up utility service is necessary to ensure no loss in service or coverage. Your agent can provide you with a list of utility providers and vendors in your community. When you focus on the above list for your final walk-through, you will find that your walk-through not only yields more useful information, but it will give you a stronger sense of peace and excitement about the transition. Hope you will find this guide helpful and may it ease the transition of moving into your new home. Congratulations!
Broker/Owner
MOVE-IN CHECKLIST Moving can be a stressful time. We highly recommend that you prepare for your move as soon as possible. Provided is a checklist of recommended steps to ensure that your move-in goes as smoothly as possible.
BEFORE YOU MOVE Address Change Notification • Post office forwarding address • Subscriptions • Friends and relatives • Bank and other financial institutions Insurance • Notify insurance companies of new coverage address: life, health, fire, and auto Change Over Services • Gas, electric, water, phone, cable TV, garbage, internet, newspaper Gather Records (for move to new city) • Ask doctor and dentist for referrals; transfer needed prescriptions • Obtain birth records, medical records, etc. • Obtain pet records and tags Moving Company • Schedule moving company • Clean rugs or clothing before moving; have them wrapped for moving • Check insurance coverage, labor cost for packing and unpacking, arrival date, various shipping papers, method and time of expected payment • Plan for special care needs for children and pets on moving day
On Moving Day (for move to new city) • Carry enough cash to cover cost of moving services and expenses until you establish bank accounts in new city • Carry jewelry and documents on your person — or use registered mail to deliver • Plan for transporting pets • Let a close friend or relative know the route and schedule you will travel including overnight stops; use him/her as message headquarters • Double check closets, drawers, and shelves for items left behind • Leave old keys for new owner (or tenant) with agent, landlord, or neighbor At New Address • Check if service is switched on for telephone, internet, cable, gas, electricity, water, and garbage • Check pilot light on stove, hot water heater, and furnace • Check if appliances are working • Notify DMV of new address update • Visit city offices and re-register to vote • Register car within five days after arrival in state or a penalty may have to be paid when obtaining new license plates • Apply for a driver’s license in new state • Register children in school • Arrange for medical services: doctor, dentist, veterinarian, etc.
DUDUM REAL ESTATE GROUP’S LOCAL VENDOR LIST
BRENTWOOD
We often receive phone calls from our clients wondering who is the best when it comes to all things home related. For that reason, we hope you enjoy our Local Vendor List. As an ongoing effort to be a resource and service to our clients long after the close of escrow, we provide this list as a convenience to you as you get settled in your new home.
Garbage (CBSW) 925.516.6090
This guide is provided as a courtesy and is a continuous work in progress. It has been created from dependable referrals by clients and business leaders. It is the sole responsibility of the hiring party to research licensing, insurance, and any other personal concerns to each individual’s satisfaction prior to any employment of a vendor’s services. Dudum Real Estate Group does not endorse nor guarantee the work of any service providers listed.
Chamber of Commerce 925.634.3344 City of Brentwood 925.516.5400 Fire Department 925.634.3400 Gas & Electric (PG&E) 800.743.5000 Brentwood School District 925.513.6300 Phone, Internet, Cable (AT&T) 800.288.2020 Phone, Internet, Cable (Xfinity) 800.934.6489 Police Department 925.634.6911 Brentwood Water 925.516.5415
DANVILLE Chamber of Commerce 925.837.4400 City of Danville 925.314.3388 Fire Department 925.838.6600 Garbage (Republic) 925.685.4711 Recycle Smart (CCCSWA) 925.906.1801 Gas & Electric (PG&E) 800.743.5000 Phone, Internet, Cable (AT&T) 800.288.2020 Phone, Internet, Cable (Xfinity) 800.934.6489 Police Department 925.314.3700 Danville Schools (SRVUSD) 925.552.5500 Water (EBMUD) 866.403.2683
LAFAYETTE Chamber of Commerce 925.284.7404 City of Lafayette 925.284.1968 Fire Department 925.941.3300 Garbage (Republic) 925.685.4711 Recycle Smart (CCCSWA) 925.906.1801 Gas & Electric (PG&E) 800.743.5000 Lafayette School District 925.927.3500 Phone, Internet, Cable (AT&T) 800.288.2020 Phone, Internet, Cable (Xfinity) 800.934.6489 Police Department 925.284.5010 Water (EBMUD) 866.403.2683
WALNUT CREEK Chamber of Commerce 925.934.2007 City of Walnut Creek 925.943.5800 Fire Department 925.941.3300 Garbage (Republic) 925.685.4711 Recycle Smart (CCCSWA) 925.906.1801 Gas & Electric (PG&E) 800.743.5000 Phone, Internet, Cable (AT&T) 800.288.2020 Phone, Internet, Cable (Xfinity) 800.934.6489 Police Department 925.943.5844 Walnut Creek School District 925.944.6850 Water (EBMUD) 866.403.2683
EMERGENCY/ OTHER SERVICES Alameda County Sheriff 510.667.7721 Contra Costa Animal Control 925.335.8300 Animal Licensing & Care 925.335.8310 Contra Costa County Sheriff 925.646.2441 Department of Motor Vehicles 800.777.0133 Poison Control 800.523.2222
WHAT OUR CLIENTS SAY “Dudum Real Estate Group are great communicators, very responsive, considerate of our opinions, and were very honest with us. Impressive work... thanks for a job well done.”
JOHN LUCAS & ANN NORBY “Dudum Real Estate Group exhibits great confidence in their knowledge about the current real estate market. They invested a lot of themselves into the sale of our home. They get results!”
LARRY & ELLEN BROWN “Dudum Real Estate Group was very patient in explaining all the steps. They were a pleasure to work with and we appreciated their professionalism.”
ED & ELIZABETH BOYD “Dudum Real Estate Group guided us through the purchase of our first home. They gave us great advice and were honest throughout the entire process.”
JUSTIN & JOANNE VERRIPS “Dudum Real Estate Group was very patient and very enthusiastic. I would recommend Dudum Real Estate Group to everyone I know. They know the Bay Area well!”
KEITH JOHNSON & ALLISON MURPHY “Dudum Real Estate Group was always available and very dependable. I would definitely refer any of my friends and colleagues to Dudum.”
NIKHIL GERA “Dudum Real Estate Group did a tremendous job of prepping our house for sale, handling negotiations, and worked hard to fit our specific needs. We could not be more pleased and recommend Dudum to everyone we know!”
CRAIG & HEATHER BUCKSER “Dudum Real Estate Group did an excellent job of explaining every part of the sales process. They are the best brokerage we know and we have been referring them to everyone we know.”
IVAN & LEANNE DODIC
THE POWER OF COMMITMENT Commitment is what transforms a promise into reality. It is the words that speak boldly of your intentions. And the actions which speak louder than words. It is making the time when there is none. Coming through time after time, year after year. Commitment is the stuff character is made of, the power to change in the face of things. It is the daily triumph of integrity over skepticism. Once one commits, providence happens, and things are able to fall into place. Here at Dudum Real Estate Group, we are committed to you!
OPENING DOORS OF OPPORTUNITY... It’s what we do. We look forward to opening doors for you!
STUART STEELE REALTOR®
925.890.4909 stuart@dudum.com stuartsteele.com DRE#01158988
WWW.DUDUM.COM WALNUT CREEK | LAMORINDA | DANVILLE | BRENTWOOD | SIERRA TAHOE DRE# 01882902
2015-2020
©2020 The information herein was obtained by sources deemed to be reliable by Dudum Real Estate Group. Dudum Real Estate Group has not independently verified the information contained herein and therefore, assumes no legal responsibility for its accuracy. Buyer should investigate any matters or items disclosed, identified or about which they have concerns to their own satisfaction. If your home is currently listed, please disregard this notice as it is not my intention to solicit other brokers’ listings. DRE# 01882902 Rev 06/2020