Buyer’s Guide
AN INVESTMENT IN YOUR FUTURE
Prepared for Alex Ferry and Regina Muccillo
About YourTeam
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
About Anne
AnneMcKereghan REALTOR®,CertifiedResidentialSpecialist,Senior RealEstateSpecialist
AnnehasbeenatopperformingEast BayREALTOR®andavaluableasset toher clientssince2003 Herin-depthunderstanding,andownlifeexperiences,providea uniqueperspectivetobothbuyersandsellers Annehasexpertiseinthevarious housingoptionsavailableintheEast Bay,fromsingletomulti-familyhomesandfrom Victorianstomodernloftsandevenfloatinghomes!
Herdedication,tenacity,loyalty,andgoodsenseofhumor maketheprocessoffinding anewhomeorsellingoneyouarereadytoleave,easyandstress-free AsaDirector withtheCaliforniaAssociationofREALTORS®andmemberoftheBayEast AssociationofREALTORS®,Annehastheresponsibilityandopportunityof understandingchangesinthehousingmarket andknowingandimpactingchangesin therealestateindustry.Youcanbeassuredthat alloftheT?swillbecrossedandtheI?s willbedottedinyourrealestatetransaction
Thekeytohersuccessistakingthetimetounderstandeachclient?shomeownership goalanddevelopafully-customizedplan.Timeandagain,thispersonalexperiencehas allowedAnne?sclientstorealizetheirdreaminaverycompetitivemarket Shehas earnedGoldenGateSotheby?sInternationalRealtyTopProducerstatusin2019,2021, 2022,and2023.
Anneisalsoanactiveandcaringleaderinhercommunity,havingservedonthe AlamedaUnifiedSchoolBoardaswellasvolunteeringforavarietyofcommunitysupportedorganizationssuchastheAlamedaEducationFoundation,theAlameda BoysandGirlsClubandtheLeagueofWomenVoters ParkbenchandAmerican DreamTVselectedAnneastheirpartner toprovidecommunityinformationtolocal residentsandbeyond
Anne?sdedicationtoherclients,industryandcommunityearnedhertheprestigious awardofREALTOR®oftheyear inboth2015and2017fromherlocalREALTOR® Association
PROUD TO BE RECOGNIZED
TOPPRODUCER 2023
2019,2021,2022
EASTBAY- ALAMEDACOUNTY
AnneMcKereghan
Thankyoutomyloyalclientsforanincredible2023.
ANNE MCKEREGHAN - REALTOR®,CRS, SRES®
TOP PERFORMINGEAST BAYREALTORSINCE2003 / ACTIVEALAMEDA COMMUNITYMEMBER
Anne McKereghan |Golden Gate Sotheby?s International Realty | 510 4070175 | Anne@YourEastBayAgent com
REALTOR®Affiliat
ions
Golden Gate Sotheby's International Realty
Top Producer - 2019,2021,2022, 2023
California Association of REALTORS®
2012 to 2023 - Director
Other offices held include - Nominating Chair,Region 6 Regional Chair,Region 6 Assistant Regional Chair,Transaction and Regulatory Committee - Regional Representative,REALTORAction FundRegional Representative, Legislative Committee - Regional Representative and Member,and Profession Standard Committee - Regional Representative
Bay East/Alameda Association of REALTORS®
2015 & 2017 - REALTOR®of the Year
Other awards/offices include - Achievement Club Gold and Diamond Levels,North County Director, Strategic Planning Committee Member,Past President,President,President-Elect,Treasurer, Director
COMMUNITY
Affiliat ions
The American Dream TV
2023 - Present, Alameda Host
The American Dream is a WEBBYaward winning, EMMYnominated National Show centered around real estate A real show, not a reality show,featuring the most reputable Realtors in markets across the U.S.as THEVOICEfor the industry.
Parkbench
2022 - Present, Alameda Community Partner
A network of hyper-local neighborhood websites Each neighborhood website is sponsored by one community minded real estate professional who loves and cares about the community League of Women Voters,Alameda 2018 - Present,President,Administrative Vice President,Board Member
First Congressional Church of Alameda 2021- Treasurer,Prudential Council Member,Church Council Member
Alameda Unified School District 2017/ 18 - Alameda Unified School Board Trustee ? Appointed March 2017
Alameda Boys & Girls Club 2015/ 17 - Board Member
Alameda Education Foundation 2003/ 17 - President,Treasurer and Board Member
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
Testimonials
To those lookingfor 'full service' ina Realtor,look nofurther! Anne McKereghan and her team helped from beginningtoend inthe refurbishingof my parentshome of over 65 years.All of the itemsthat we put out for a yard sale were tonumeroustodescribe.Anne and Kathleen helped tothe 'n-th' degree toprepare, haul and help withthe sale in somanyways.Afterward her construction team worked tirelessly topaint and give the home a newlook that would attract new buyers.We found thingsthat needed tobe replaced and repaired and Anne and her team took care of findingthe proper vendors todo the job Anne isvery personable and understandsworkingwithmany genresof people.Her caringand professional demeanor would be an asset to anyone lookingfor a trustworthyand compassionate realtor whoalsohasa great sense of humor I would highly recommend Anne and her team tohelp you with toughdecisionsinobtainingyour dream home or sellingyour family property.
? SELLER- $1,460,000
3011Lincoln Avenue,Alameda CA
Seller Review ? Recommended byCynthia
We highly recommend Anne McKereghan asa real estate agent onHarbor Bay/ Bay Farm Island. Anne recently represented usinthe sellingof our home, and we feel she istrulyone of the best Anne isanultimate professional, honest, ethical,efficient,and extremely competent. Anne isvery knowledgeable and up todate about the trendsinthe market,while also possessingan ability tothink out-side-the boxwhennecessary She iswell connected and highly respected in the industry.Anne hasstrong communication skills.She listened carefullytoour ideasand concerns, guidingour decisionswhile makingcertain that we were alwaysinthe ?driver?s seat.?Whenasclientswe were tryingtonavigate and understand paperwork, Anne took the time topatientlyexplain everythingclearly tousin a way that waseasy tounderstand and toanswer our manyquestions One thingwe appreciated the most waswhen the processbecame overwhelming,asbuying or sellinga home does, Anne would alwaysinsert just the right amount of appropriate humor toease the tension and keep the processmovingforward
Thank you somuch,Anne,for all your hard work inseeingour home sale through from start tofinish
? SELLER- $1,900,000
42 McDonnel Rd, Alameda CA
Seller Review ? Recommended by Paul and Brenda
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
Testimonials
We were solucky towork withAnne on our recent home purchase and sale in Alameda. Inthistight market for buyers,Anne used her networkstohelp us identify our ideal home off-market and clearly guided usthrough the offer and purchase process.We reallyappreciated that inevery home we sawwithher she pointed out areastoconsider that we would have missed.She waspatient and flexible aswe took our time todetermine the right neighborhood and type of home for our family.She wasalsogreat withour high energy kids! We ended up gettingour dream home at a fair price and are sograteful.When sellingour home, Anne'sexpert guidance made the experience asseamlessas possible. She handled all contractorsand evenenabled ustoleave behind any furniture and itemswe no longer needed. She wasvery thoughtful about keepingour expensestoa minimum and did such a nice job balancingour desireswithguidance based on her deep experience tomaximize the proceedsfrom our sale. Again,Anne pulled from her networkstoidentify a great buyer whowasready tomove ahead quickly Anne isprofessional, knowledgeable and lovely towork with.Would highly recommend her for both sellingand buying.Thank you somuch Anne!
? BUYER- $1,450,000
1132 Versailles Avenue, Alameda CA
Buyer Review ? Recommended by Liz
Anne isthe consummate, seasoned real estate professional.We started our house search right before lockdownlast March, which made viewingmore difficult But Anne stuck with usevenasour parametersshifted throughout the year.Ayear pluslater,we are happilyensconced inour dream home.
Highly recommend Anne!
? SELLER- $1,555,000
639 Larchmont Isle,Alameda CA
Seller Review ? Recommended by Steve and Janie
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
Testimonials
With Anne McKereghanasyour Realtor,you will get an experienced professional,with integrity,whoknowsher market inside and out. Whether you are buyingyour next home,or selling, we highly recommend choosing Anne.
My wife and I live 750 milesfrom Alameda.We decided tosell our Alameda home that we owned for 33 years,12 yearsasresidentsand 21yearsasa rental. We needed a very seasoned professionalRealtor,one whom we could rely ontoshoulder a good deal of responsibility overseeingwork that needed tobe done over a relatively longstretchof time.Not manyRealtorsare willing totake that on. On top of that we needed a Realtor whom we could trust to represent and market our most treasured asset at the appropriate time and in the appropriate light.We are sopleased that we chose Anne McKereghan.
In the beginning,we all agreed that work had tobe done before listing.We were able torelyon Anne tosupervise over all the work,the reconditioning, and repairs.Anne kept everythingmoving, communicated frequently,showed resourcefulness, and held herself toa timeline Anne staged our home magnificently.She produced a stunningvideo and used state of the art technology toproduce a computerized 360 degree 3-D tour of our home with the touchof a mouse button
There isno question,Anne maximized the value of our home and found the best possible buyerswhose tastesand appreciationfor historichomes matched our own.Tosome sellers,that maynot matter,but it did tous.
With Anne you are gettingthe best!
? SELLER- $2,450,000
899 Union St,Alameda CA
Seller Review ? Recommended by Charlie and Mimi
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
Testimonials
Anne McKereghanisa very experienced,talented and dedicated real estateprofessional.She isa great communicator and kept usapprised of all that wasgoingon duringthe salesprocess.We followed all or her advice and were extremely pleased bythe result.All of her resources(inspectors, contractors, painter, stager) were all top notch and did excellent jobsin preppingour home for sale.We would whole heartedlyrecommend Anne to anyone lookingfor a real estate agent.
? SELLER- $1,587,500
3012 Marina Drive,Alameda CA
Seller Review ? Recommended by Jeff and Gayle
We feel solucky tohave been able towork withAnne for the purchase of and then, five yearslater,the sellingof our first home. She istrulya one-of-a-kind realtor whogoesabove and beyond for her clientsand isespecially helpful for first time homebuyersastheynavigate the world of real estate withneweyes. We feel solucky tohave had her on our team and will missher dearlyasshe made our livesricher duringour time livinginour Alameda condo Thank you, Anne!
? SELLER- $910,000
1400 Sherman Street,Alameda CA
Seller Review ? Recommended by Tyler and Lauren
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914 YourEastBayAgent.com
200Caldecott Lane,#160 Representing Seller
1321CrownDrive-Alameda RepresentingSeller
340-29thAvenue,Unit 208-Oakland RepresentingSeller
340-29thAvenue,Unit 203-Oakland RepresentingSeller
3340-29thAvenue,Unit 414-Oakland RepresentedBuyer
322 MillsDrive-Davis RepresentedSeller
1025VeteransCourt -Martinez RepresentedSeller
891UnionStreet -Alameda RepresentedSeller
899UnionStreet -Alameda RepresentedSeller
1101Court Street -Alameda RepresentedBuyer
42McDonnelRoad-Alameda RepresentedSeller
2964SouthwoodDrive- Alameda RepresentedSeller
3012MarinaDrive-Alameda RepresentedSeller
$650,000 $900,000 $1,085,000 $3,155,000 $2,450,000 $1,930,000 $1,900,000 $1,875,000 $1,587,500
AnneMcKereghan
GoldenGateSotheby?s InternationalRealty
Anne@YourEastBayAgent.com 5104070175
Lic#01385914
YourEastBayAgent.com
638ArlingtonIsle-Alameda RepresentedSeller
912DelMarAvenue-Alameda RepresentedBuyer
1511LafayetteStreet -Alameda RepresentedSeller
5738GrisborneAvenue-Alameda RepresentedSeller
1132VersaillesAvenue-Alameda RepresentedBuyer
1625SantaClaraAvenue-Alameda RepresentedBuyer
21KaraRoad-Alameda RepresentedBuyer
4329EdgewoodAvenue-Oakland RepresentedSeller
917CentennialAvenue-Alameda RepresentedSeller
1842WoodStreet -Alameda RepresentedBuyer
26OverlakeCourt -Oakland RepresentedSeller
1Twitter Court -Oakland RepresentedSeller
$1,550,000 $1,525,000 $1,500,000 $1,470,000 $1,450,000 $1,450,000 $1,325,000 $1,275,000 $1,250,000 $1,200,000 $1,130,000 $1,120,000
KathleenKelly
Project Manager
About Kathleen
KathleenhaslivedinAlamedasince2001,together withherhusbandChrisandtheirthree children,twoofwhomareofftocollege Shehasaproductionmanagement backgroundin graphicart andhasbeenworkinginrealestateproject management since2019
Kathleen'sdegreeinfineart givesher akeeneyefordetail,color,anddesign.Shelovesthe before-and-after aspect oflistingpropertiesandappreciatestherichhistoryofBayArea homes.Kathleenisalsoapeoplepersonandrelishesbuildingrelationshipswithclients, colleagues,andvendors.
Outsideofrealestate,sheenjoysspendingtimewithfamilyandfriends,horsebackriding, yoga,hiking,walkingher dog,gardening,andtravel
About Derrick
DerrickDohasworkedintheRealEstateindustrysince2016providingadministrative support andrealestateservices Licensedin2019,herepresentedbothbuyersandsellersin residentialrealestatetransactions In2021,hedeterminedhistruecallingwasutilizinghis detail-orientedskillstosupport Realtorsandtheirclientele This,combinedwithhisselling experience,resultsinexcellent transactionsupport asheappliesthetheoryofrealestatewith hissellingexperience
Alwaysaimingtoprovideexcellence,DerrickearnedthedistinguishedCertifiedTransaction CoordinatordesignationfromtheCaliforniaAssociationofRealtors Thecourseworkis designedtoachievethehighest standardofprofessionalismintheindustry Heimmediately implementedthetraininginhisworkassuringtheRealtorshesupportsandtheirclients receivethebest serviceintheindustry
Derrickunderstandstheimportanceoftimeliness,organization,andcommunication However,healsounderstandsrealestateispersonalandprovidessupport withapositive attitude,allowingclientstofeelconfident andknowthey'reingoodhands!
Guiding You to a Successful Purchase
Each homebuying journey is unique, just like our clients. The following is a list of some of the items that may be part of your home purchase process.
Initial Consultation
An initial meeting is important to ensure that you get access to properties both on and off the market, as well as exclusive and coming soon listings. We want to help, prepare you to be able to write offers quickly in a competitive market when needed.
Property Selection & Refine Search
• Property needs and wants, location, size, amenities, style
• Purchase price range
• Provide an overview of the current market dynamics and challenges
• Refine Property Search Criteria - Worksheet
• Setup Listing Alerts and Market Reports
• Schedule Property Tours
Purchase Process with your Agent
• Agency – Our agents can explain agency and discuss their role in Buyer Representation
• Purchase Contracts – We can share sample contracts so you can familiarize yourself with the various options and terms
• Buyer Representation – We can explain how Buyer’s Agent compensation works and will complete a contract to work together to secure your new home.
Financing
Financing and good lender relationships are important. We can recommend a variety of loan officers who can help you be prepared to purchase your home.
• Get prequalified and confirm price range
• Complete the loan application
• Obtain loan Pre-Approval subject to the property selection and appraisal
• Provide any requested additional documentation
Property Tours
Our agents view properties throughout the region, follow local market dynamics, and are here to assist you in assessing the value and condition of the properties you view.
• Present off-market or pre-market listings as they arise.
• Review list of potential properties from the MLS – discuss things that may not be readily apparent
• Call agents to schedule and set up private showings
• Map out and tour properties together
• Recommend properties that may come up for viewing at Open Houses
• Review the pros and cons of each home after the showing
Reviewing Disclosures
One benefit of having a trusted real estate advisor is their familiarity with required disclosures, recommendations for inspectors, and experience with reviewing reports.
• Your agent will request the Disclosure Package, Preliminary Title Report and other information from the listing agent
• Discuss with your agent if you want to get any additional inspections or reports and determine the timeframe for needed contingencies
• If the home is in an HOA, and the Seller has not provided the HOA docs, the agent can explain the typical timing of the process to receive and review the documents.
• Recommend a Title and Escrow Company.
Write Competitive Offers
When we locate a property that meets your needs, we can assist you in determining an offer price and terms, and negotiating on your behalf, to help you win the sale. What may not be evident at the outset is the added value of being represented by an agent with a trusted brand and a good reputation within the agent community when it is time for them to help their clients assess competing offers.
• We can call the listing agent to get the best information possible about competing offers and sellers preferences regarding terms, and the timeline for offer submission.
• We can review comparable sales, and discuss the price and terms that can best position your offer.
• Our agents will prepare the offer with the relevant and required advisories and disclosures, and can submit the loan approval letter or proof of funds, with the offer.
• Get signatures on all offer documents to provide a complete and compelling offer.
Presenting Offers
Representing you in the best light can be helpful in securing the winning offer. I can ask to present the offer in person if requested. It is up to the Seller how they wish to receive offers.
• Your agent can help you present the offer in person or by email in a timely manner
• Notify the agent of the offer submission to ensure that they received it, and to find out the expected response time
• Maintain communications and forward any counter-offers for review
• Negotiate on your behalf and writing any addenda or subsequent counter-offers.
Opening Escrow
Congratulations! This is just the start of the transaction process. Your agent will guide you through the requirements that are contained in your accepted offer.
• Open escrow at the selected Title Company
• Ensure you understand wire fraud concerns and that you communicate directly with your trusted Escrow Officer regarding any wiring, account or transfer information.
• We will maintain a secure transaction file with all the ongoing required documentation and upload the Earnest Money Deposit receipt to the file
Physical and Other Inspections Contingencies
There are numerous contingencies, and our agents will help you navigate through them. If you have an Inspection Contingency this will allow you to order further inspections and reports to get more information about the property.
• Your agent can recommend or help you locate inspectors for all the inspections you want to undertake.
• Call inspectors to check on their schedules, and setup inspection appointment times.
• Each agent will complete an Agent Visual Inspection
• Forward, review and file Inspection Reports
• Communicate with your lender as requested
• Assist the Appraiser with access to the home, and provide comps as needed
• Provide resources for Homeowners Insurance and options – this is a critical step in the process given the current insurance climate
• Assist you in making a Request for Repair if applicable
• Remove any remaining contingencies
Complete the Closing Process
• We can recommend Movers
• Arrange for a final walkthrough of the property
• Provide resources for a Home Warranty Policy
• We can accompany you to the closing signing
• Upon recording title, provide keys
Preparing to Buy
Personal Checklist for Prioritizing Your Most Important Concerns
In what areas are you interested in living?
Are there specific neighborhoods you prefer?
What is your price range?
Is having a homeowners association important to you? YES NO
Do you have a lender? YES NO Have you been pre-approved? YES NO
Do you need to complete your existing lease? YES NO Lease end date
Do you need to sell your current residence? YES NO
If yes, describe your home:
What is your timeline for purchasing a new property?
Do you prefer: 1-story Multi-level No preference
Preferred number of bedrooms: Preferred number of bathrooms:
Which of the following are important in your new home? Yard Pool New Construction
Fireplace AC/Heating Office Children’s Area Hardwood Floors Garage
Which of the following are important to you about your new neighborhood? Easy Commute
Parks Shopping/Restaurants Freeway/Transit Private Schools Public Schools
Other things that are important:
Why use Golden Gate Sotheby’s International Realty?
Reasons to Work with a Professional Realtor ®
With all of the information available to consumers today, it is tempting to consider representing yourself when buying a home. Here’s why working with a professional is the best choice you can make:
Expert Guidance in a Complex Market
The Bay Area real estate market is exceedingly complex and factors affecting the market change daily. An experienced professional should be your guide, using their in-depth knowledge of area communities, current and past market conditions and indicators to assist you in numerous ways. Your Golden Gate Sotheby’s International Realty Sales Associate can help expedite your search, identify the neighborhoods and communities that best fit your lifestyle and meet your needs, negotiate the best possible deal, and avoid delays or costly mistakes.
Expanded Search Power
Sometimes properties are available but not actively advertised on the market or the MLS. Through their network, your Sales Associate will have knowledge of and access to these “off-market” listings not accessible on public search sites. Your Sales Associate will also have access to more detailed property information than what is publicly available and exclusive access to our global search portals and connections with local representatives worldwide.
Negotiation Prowess
There are many factors to be considered when making an offer on a house in today’s swiftly moving market and your Sales Associate can help prepare you so that you are able to make decisions in a timely manner. A trusted professional, your Sales Associate will negotiate the details of an agreement to ensure that your best interests are protected before you are bound to complete the transaction.
Your Real Estate Professional Should Be:
• A Realtor®. Members of the National Association of Realtors adhere to a higher level of standards in managing your transaction and a strict code of ethics based on professionalism and protection of the public. Their first obligation is to you, the client.
• Knowledgeable about the communities of interest to you.
• An effective communicator dedicated to keeping you educated and informed throughout the entire buying process.
• Aware of the complicated local and state requirements affecting your transaction.
• Able to direct you to helpful lenders that assist you with getting the financing you need.
• An expert negotiator. Effective in multi-party, written and face-to-face negotiations.
• Respected by other agents in the real estate community.
• Highly trained, with access to programs for continued learning and additional certifications.
• Technology focused. Able to respond to you in a timely fashion and use current technology to expedite your purchase.
• Supported by professional legal counsel.
Your Golden Gate Sotheby’s International Realty Sales Associate is an experienced professional backed by exceptional leadership and support teams, all dedicated to providing you with a peerless level of service.
Mutual Agreement
Our decision to work together can be formalized in an agreement
Seller Paid Commissions
• Sellers complete a Listing Agreement that covers, among other things, the commission paid to the Listing Agent selling their home and most frequently includes a provision where the Seller can offer to pay the Buyer’s Agent a commission, which is then noted on the MLS
• Buyers can also request that Sellers make up any difference in Broker Commission for the Buy Side as part of the offer to purchase which allows the commission to be incorporated into the final sale price and financed.
Having a written Representation Agreement allows me to:
• Commit my time, expertise, resources, support staff and experience to find exactly what you are looking for
• Make my best effort to find you the home to meet your needs
• Incur all my car, phone, and administrative expenses
• Search for Off-Market homes or Pocket Listings.
• It also covers MLS listings that are below our company’s minimum fee for representation
• It clarifies and expedites the offer process, removing the level of brokerage compensation as an impediment.
It should be noted that commissions are not set by law and are negotiable. Each broker is entitled to set their fee schedule for services performed.
When to Buy?
Reasons to Buy Now
Determining if the time is right to buy a home is your first step in the home buying process. Here are some reasons to consider buying now rather than waiting for a future date.
Tax Savings & Equity Building
The sooner you buy, the sooner you can start building equity in what is likely to be your greatest asset, and the sooner you can take advantage of the tax benefits of owning a home. Talk to your CPA or tax professional to understand your particular situation.
It’s the Right Time in Your Life
Sometimes it’s just the right stage of life to make a move: you want social and educational continuity for your children; your financial circumstances have changed; you are empty nesters or retirees and are looking for more freedom, or maybe you have changed jobs.
Generally Rising Home Values
Market timing is a risky practice and an approach we don’t recommend for the purchase of your primary residence. Over the long term, however, home values tend to rise. Just like the stock market, if you get in sooner rather than later, and hold on to your investment, it is likely to appreciate.
Lock in Interest Rates
If you are financing your home purchase, locking in an interest rate now will give you more predictability for your household budget, and will be a long-term benefit if interest rates rise.
The Homebuying Process
Initial Consultation
• Determine your priorities and needs
• Review Agency and Representation to define the appropriate working relationship
• Discuss financing options
Finding the Right Home
• Sales professional shows you properties based on your criteria
• Evaluate each property with sales professional
• Choose the right home
Preparing an Offer
• Review seller’s property disclosures
• Review preliminary title report
• Contact listing agent with any buyer questions or disclosures
• Review comparable sales to determine offer price
• Review process of loan pre-approval; decide on financing
• Decide on other terms (inspections, possession date, personal property, etc.)
• Prepare earnest money deposit
Reaching Seller Agreement
• Present your offer
• Negotiation of terms and possible counteroffers
• Agreed-upon sales contract with seller
Completing Settlement Process
• Deposit of earnest money
• Roof, termite and other inspections
• Review seller’s disclosures again
• Remove any remaining contingencies
• Arrange for homeowners insurance
• Arrange for home warranty
• Arrange for movers
• Final walk-through of property
• Provide balance of down payment and closing costs
• Sign documents
• Loan funding
• Recording of title
• Receive keys from sales professional
• Move in!
Obtaining Financing
• Find a mortgage company
• Consult with a loan officer
• Pre-qualification
• Complete loan application
• Obtain loan pre-approval
• Provide requested documentation
• Property appraisal
• Loan Processing
• Final loan approval
Financing
Working With a Lender
Working With a Lender Will Help You:
• Determine the price range that you can afford.
• Understand the different types of loans available and the types of programs you may qualify for (particularly if you are a first-time home buyer).
• Estimate the down payment and closing costs on a house you are interested in.
• Determine what your monthly housing payment will be.
• Get pre-approved so that your offer is more attractive to sellers.
Obt ai ning a Loan:
The Application. All pertinent documentation is obtained, fees and down payments are discussed, and the borrower will receive a Good Faith Estimate (GFE) and a Truth-in-Lending disclosure statement (TIL) itemizing the rates and associated costs for the loan.
Loan Submission. Once all the necessary documentation is in, your completed file is submitted to a lender for approval.
Loan Approval. Loan approval, or underwriting, requires that all documents have been submitted and generally takes 24 to 72 hours. All parties are notified of the approval and any loan conditions that must be satisfied before the loan can close.
Closi ng. Once all parties have signed the loan documents, they are returned to the lender. If all the forms have been properly executed, the lender sends the loan funds by wire transfer. At this point, the borrower finishes the loan process and buys the house.
Mortgage Loan Checklist
Be Prepared
In order to expedite the mortgage loan process, please be sure you bring everything applicable on this list to your meeting:
Contracts
Copy of Sales Contract (on the purchase of your new home)
Copy of Sales Contract and certified copy of Closing Statement (on the sale of your present home)
Residence History
Past 24 months of residence with complete addresses and dates
If currently renting, landlord’s name and contact information
Employment History
Employers for the past two years with complete addresses and dates
W2 forms (most recent two years)
Tax returns with all schedules (most recent two years)
If self-employed, YTD profit and loss statement and current balance sheet
If you have gaps in employment, be prepared to explain
Accounts
Copies of most recent statements (3 months) for all loans and credit cards with current balances
Copies of most recent bank statements (3 months) for all accounts, stock brokerages, mutual funds, IRAs, pensions, etc.
Current Real Estate
Property addresses with estimated market values
Outstanding loan balances (bring copy of recent loan statement)
Amount of monthly payment
Amount of monthly rental income (copy of rental agreements)
Personal Property
Net cash value of your insurance
Year, make and value of all vehicles
Value of your furniture and personal property
Value of any additional property used to procure loan
If Applicable
Copy of divorce papers
Certificate of eligibility & DD214 (for VA only)
Copy of drivers license and Social Security Card (for FHA only)
Property Inspection
Once Under Contract
As part of the sales contract, you have the right to inspect the mechanical, electrical, plumbing, and structural portions of the property along with any concerns that you have about anything that affects the property. In short, the property inspection is for things that you cannot see or things that require further investigation.
The home insurance market is challenging these days and we advise that you seek insurance coverage before lifting your insurance contingency.
We encourage you to meet the inspector at the end of the inspection so that they may point out any concerns about the property and also answer any questions that you have. They will give you an itemized report for your review.
If repairs are needed, you can request that the seller make them in accordance with the provisions of the sales contract, or if they are unacceptable you may cancel the contract, provided contingencies have not been removed. Confer with your Sales Associate for additional details.
Square Footage — The initial property measurement is for the purpose of marketing, may not be exact, and is not for loan valuation or other purposes. If exact square footage, or the property boundary, is a concern, the property should be independently measured or surveyed prior to the inspection deadline.
The Home Inspection Process
Ratified Contract
Conduct Home Inspection
Repairs Needed No Repairs Needed
Repairs Requested
Seller Agrees to Perform Some or No Repairs
Seller Agrees to Perform All Repairs
Negotiation of Repairs Begins
Buyer Rejects Seller’s Last Offer of Repairs
Buyer Accepts Seller’s Last Offer of Repairs
Contract Released
Pre-Closing Buyer Checklist
Understanding the Final Phase
You have a right to do a “walk-through” on the property before closing. Please make advance arrangements.
Prior to closing, we will both receive a copy of your Settlement Statement, which your Sales Associate can review with you. This will indicate the amount you will need to bring to closing.
Bring certified funds to closing, in the form of wired funds or a cashier’s check, made payable to the title company. Usually we will have the correct figure the day before closing from the title company. Always work directly with the title company’s known contact information to avoid wire fraud.
If jointly purchasing and one of you will not be at closing, we will need a power of attorney form signed. You may grant anyone you designate power of attorney to act as your agent at closing. If neither of you will be at the closing, you may be able to sign the closing documents in advance or arrangements can be made for a notary to come to you.
Please bring your driver’s license to closing for identification, as you will be signing legal documents.
Finalize Homeowners Insurance. You will need a certificate of your paid insurance premium at closing. Check with your lender to see if you are having your insurance escrowed and included in your mortgage payment.
Please allow approximately one hour for closing.
Notify applicable companies of your new address in order for accounts to be setup/transferred accordingly and to assure continued service.
Home Warranty & Insurance
Protecting Your Investment
Fire and Hazard Insurance
Once you have a home under contract, it is critical that you contact your insurance company right away to get a quote on insurance. You can request a Claims History Report from the seller as part of the due diligence documents in the contract, which will give you a 5 year history of any claims on the property.
Flo od Insurance
Many policyholders do not realize that basic homeowner’s insurance does not include protection from flood damage. Instead, the Federal Emergency Management Agency (FEMA) administers flood insurance through a federal program. Flood insurance may be purchased as a separate policy. Be sure to have your insurance agent check to see if the property is in a flood zone.
Home Warranty
As an additional benefit, some sellers provide a Home Protection Plan for the buyer. This coverage is good for one year on selected items, such as: central heating & air, interior plumbing and built-in appliances. If the home you choose does not have a Home Warranty, you can acquire the coverage yourself, ask your Sales Associate for more details.
Discover the Difference With Us
Why Work With a Golden Gate Sotheby’s International Realty Agent?
Best Local Agents
Not everyone can be a Golden Gate Sotheby’s International Realty agent. Our agents have a welldeserved reputation for professionalism and service that keeps clients coming back. Unlike most local brokerages, we are a collaborative group, working together to share market knowledge, pricing and negotiation insight, and professional connections that help you in your property search and at the negotiating table.
Collaborative and Connected Network
Our buyer clients have a huge advantage by being connected to a collaborative group of local agents. Agents at most brokerages operate individually without collaborating with others. Our agents meet weekly to share market knowledge, including off-market opportunities, recent sales that aren’t yet public, and stories of what’s happening in the market now. Beyond our local offices, our connections with 465 top agents in our 21 offices throughout the Bay Area, and with Sotheby’s International Realty® affiliates around the world, give us insight into broader market trends and potential opportunities, wherever you may be looking to buy.
Sotheby’s — An Iconic Brand
Since 1744, Sotheby’s has sold their client’s most valuable treasures. The preeminent auction house expanded to create the Sotheby’s International Realty ® brand is recognized globally for unmatched quality of service and expertise. The strength of the brand helps open doors adding credibility to your offer.
Passion, Experience & Reputation
Experts Throughout the SF Bay Area and Around the World
Golden Gate Sotheby’s International Realty is one of the most prominent and influential real estate firms in the San Francisco Bay Area. With more than 465 agents in 21 offices serving the counties of Alameda, Contra Costa, Marin, Napa, San Mateo, Santa Clara, Sonoma and San Francisco, we proudly represent all property types and price points.
Golden Gate Sotheby’s International Realty associates are recognized as industry leaders with deep local knowledge, providing the same quality service at all market levels. When buying or selling a home in the San Francisco Bay Area and beyond, we are at your service.
Reverential Heritage
Embracing a Brand’s Powerful Influence
Since the founding of the Sotheby’s Auction House in 1744, the Sotheby’s name has earned a renowned status as a marketer of the world’s most valuable and prestigious possessions. This reputation is built as much upon exceptional service to clients as on the notable art, antiques, jewelry and other holdings that pass through Sotheby’s offices around the world.
In 1976, Sotheby’s recognized that the firm could serve its auction clients in a valuable new way with a complete package of estate disposition services. Founded on the same commitment to exceptional service that characterized the firm’s dealings for more than two centuries, the Sotheby’s International Realty ® brand was born and soon became known around the world for the distinctive properties and clients’ it represents. Today, we continue that focus by employing our brand’s vision of artfully uniting extraordinary homes with extraordinary lives.
Distinguished Global Referral Network
26,000 Sales Associates
1,000+ Offices
81 Countries All Working For You
Distinguished Connections
The Network’s Worldwide Strength
The Sotheby’s International Realty ® brand was established to connect the finest real estate companies to the most prestigious clientele in the world. Today our network boasts more than 26,000 affiliated independent sales associates, located in over 1,000 offices, in 81 countries and territories worldwide, placing over 10,000 referrals every year. Our network members utilize innovation with relevant reach to assist clients’ in the most unique way.
Helping our clients navigate the world of real estate is what truly helps set us apart. Another differentiator is our ability to connect buyers and sellers globally. Our referral system boasts hundreds of “connections” per month coming from two channels, realty and auction. With a dedicated liaison between the Sotheby’s Auction House and Sotheby’s International Realty, we are able to help unite thousands of buyers with the properties our network represents.