buyer’s agent book
ann arbor’s premier Realtor.
Finding your home. It should be an enjoyable journey. We bring unmatched experience, unrivaled commitment, and a team that is dedicated to making it a success. Let’s find it together.
Start with your dreams. What are your preferences? What is your lifestyle? How do you see your future? What is truly important to you? We believe that all of these questions help us to hone in on the specific neighborhoods and homes that will suit your needs. No one knows Ann Arbor/Washtenaw County and the surrounding areas like we do. You focus on the dream. We’ll take care of the rest.
3
expect the exceptional. We are not your typical agent. In today’s environment, you deserve more – more expertise, more care, and more focus. We are dedicated to delivering exceptional service on every level, with experts who are the best in their field. We accomplish this by adhering to our core principles:
The Bouma Group Difference.
• talented professionals • exceptional education and training • unsurpassed market knowledge
• prompt response times • dedication to our clients
The Bouma Group is set up to help you through the entire process. We stand ready to serve you in every way possible, utilizing our expertise in searching, negotiations, financing, writing a contract, closing, and beyond. While each transaction is different, every buyer wants the same result: to buy their home at the best possible price, in the shortest time, with the least amount of stress. We know the path. Let us take you there.
5
let us show you the way home.
Martin Bouma Owner & Realtor®
Every great team has a strong leader, and ours is Martin Bouma. With his proven track record, solid reputation, and over 25 years of experience, Martin is recognized as a local expert for his deep knowledge of the Ann Arbor area real estate market. This expertise has resulted in national recognition and a strong following within the community. Martin founded The Bouma Group with the idea that buying a home is often the single largest financial investment one will make and deserves the professional attention that is often missing in the industry. He has built a team of experts in every area, all ready to help you.
• #1 Sales Associate, out of 800 Realtors, for number of homes sold in Washtenaw County for over 12 years • Ranked in the top 25 nationally, out of 100,000+ Keller Williams agents, since 2000 • 2012 Wall Street Journal Top 250 Teams by Sales Volume Nationally
6
We’re with you every step of the way. At The Bouma Group, we are a true team.
b u y e r’ s a g e n t s . Heidi Elder
Buyer’s Agent & Realtor® As one of the top Buyer’s Agents in the area, Heidi ensures clients benefit from her 12-plus years of experience, market knowledge and negotiating skills. She understands the importance of closely listening to your goals and needs as she helps you navigate through the home buying process.
Scott Guyor
Buyer’s Agent & Realtor® With a background in financial planning and over 11 years of experience in real estate, Scott is one of the top Buyer’s Agents in the county. His expert negotiating skills and knowledge of the real estate market make him a true asset as you purchase your new home.
A team with impeccable service and skills that are second to none in the industry. We have an experienced team of experts to guide you through the home buying process from your first meeting with the Buyer’s Agent to working with our Closing Specialist. This team approach ensures that there will always be someone available to guide and assist you at every step of the way and ensure that your needs are responded to quickly and efficiently.
8
Becki Gersh
Closing Manager & Realtor® Becki has over 21 years of experience in the closing department of The Bouma Group and is one of your greatest resources throughout the closing process. She is truly an icon in the business and her primary goal is to create a stress-free experience when working for you.
Brian Quinn
Closing Manager & Realtor® Brian has over 18 years of experience at The Bouma Group and his experience is invaluable. Having started as a Buyer’s Agent, he understands every aspect of the business, which is a large benefit as he works with both Buyers and Sellers in the closing department. 9
why use a buyer’s agent?
percent
of Buyers work with a Realtor.
we are here to represent you .
Buyer’s Agents represent the Client’s best interest. We are here to provide unsurpassed service to help you buy your home at a fair market price, in the shortest time, with the least inconvenience to you. We are looking out for your best interests. Our client is you, the Buyer, not the Seller. we are the experts .
We are familiar with the neighborhoods you want to live in and will provide you with helpful community data. We know the market and the available inventory at all times. We will provide relevant market data as to the fair market value of homes. we are unbiased .
We can show you ANY home whether it is listed with another company, a builder, or a For Sale by Owner. We check the Multiple Listing Service (MLS) database and consult with other Realtors daily to find new listings which meet your criteria. We coordinate appointments and show properties of interest, whether or not they are The Bouma Group’s listings.
Best Realtor In Ann Arbor! I have bought several homes from the Bouma Group. I personally found Martin Bouma’a knowledge of the Ann Arbor market superior to other Realtors that I talked to before I found the Bouma Group. The Bouma Group’s closing manager, Becki Gersh, held our hands during the entire process of our most recent short sale purchase. Hats off to the entire team of The Martin Bouma Group.
– debbie crispin PA S T C L I E N T
We received excellent service from Heidi for helping us find a home and Becki for helping us close. Every one was very efficient and professional and extremely pleasant. A buyer’s agent is the only way to house hunt and the Bouma team is the best.
– dan and cathy PA S T C L I E N T S 10
11
it starts here. If you’ve never been through it before, buying a home runs the gamut of being a straightforward process to being incredibly complex. There are dozens of variables involved and you need focus and organization throughout the entire process. The next several pages will help you understand the steps and how we’ll help you through each one.
The Bouma Group buying process.
1. Choosing an Agent
pg. 15
2. Pre-Approval
pg. 16
3. Your Wish List
pg. 17
4. Finding Your Home
pg. 18
5. Making an Offer
pg. 19
6. After Your Offer is Accepted
pg. 20
7. After You Buy
pg. 21
8. Closing
pg. 22
9. Your New Home
pg. 23
13
the home buying process. buying process Find a Realtor you can trust
Select properties that meet criteria
Analyze your home buying criteria
View “top 10” properties that meet criteria
Obtain mortage pre-approval Prepare Offer • •
Discuss sold comparables Earnest money deposit
Negotiate Offer • • •
Accept Offer Counter Offer Withdraw Offer
• • •
Schedule inspection Choose lender and implement documentation Attorney review of sales contract, by-laws and title work
Review inspection results with Closing Department
Remove contingencies
Buying a home is one of your largest and most important financial investments. The Bouma Group Agents have a proven track record of consistently selling more homes each year than any other Realtor. We are highly trained specialists with years of experience and a broad market knowledge. These qualities distinguish us as skillful negotiators who will be able to get the home you want at the the most competitive price. Choosing a Bouma Group Agent will provide you with a high level of professionalism, expertise and care. We are more than an Agent; we are consultants — helping you to find the home you want. As your Agent, we will:
Accept contract and apply for mortgage • • •
Earnest money Inspection Radon Test
closing process Introduction to Bouma Group Closing Department
step 1 choosing an agent
Complete closing checklist
Meet Buyer’s Agent at final walkthrough and attend closing together
• Always look out for your best interest. • Communicate with you on a daily basis. • Identify properties that fit your needs. • Give you a summary of different neighborhoods with details on schools, parks and the appreciation potential for each area. We will customize your search and notify you when new and suitable properties come on the market.
• Provide you with Comparable Market Analysis (CMA) to show the recent selling price of comparable properties and the market value of current properties available on the market. • Communicate with the Listing Agent to gain important information in order to optimize your ability to obtain the home you want. • Update you on the interest level of other parties and keep you apprised should a competitive bidding situation arise.
THINK ABOUT:
• Choosing an agent whom you trust and respect • Working with an exclusive agent whose sole focus is to represent your best interests
Attend inspection with your inspector 14
Closing scheduled with Closing Department 15
step 2 pre-approval
step 3 your wish list
Negotiation means having leverage. We’ll help you get ready for financing early, meaning that you’ll have a decided advantage over other buyers once you find the home of your dreams. In today’s market, a pre-approval is required when presenting an offer. It is based upon information and documentation that have been verified by a lender. It is an indication to the Seller that you are a qualified Buyer. It will also give you confidence in your offer.
Every Buyer and every situation is different. As your Agent, it is critically important that we understand your goals and your preferences. For example, there are many categories Buyers fit into:
Pre-approval will help you in the following ways: • Leverage your offer, especially in competitive offer situations • You can select the best loan package without being under pressure • A pre-approval is based upon information and documentation that has been verified by the broker/lender (vs. a prequalification in which the information has not been verified)
• Single Family Home vs. Condo • New construction • Re-sale property • Investment opportunities • Moving up • Downsizing
THINK ABOUT:
• Your Budget Needs: city versus township THINK ABOUT:
• Choosing a local lender • Cash versus financing • The down payment and other out-of-pocket expenses
• Location: schools, neighborhood, transportation • Type of home: single family, condo, town house, high rise, fixer upper • Your ideal home: features and amenities • Minimum Requirements (number of bedrooms, bathrooms, square footage, etc.)
16
17
step 4 finding your home
step 5 Making an Offer
The reviewing process is an educational one. We begin with your Wish List and will consult with you as you view various properties. We believe your dream home is out there. We further hone in on your wishes, allowing you to start altering some of your wants based on what you’ve seen and learned. The Bouma Group is patient, and we are not on a deadline or a quota. We will take as long as is necessary to find your home, and will never pressure you. It isn’t right until it’s right for you. Your Buyer’s Agent will:
This is where the dream meets reality. Your Buyer’s Agent will discuss sales data and educate you with comparable market data in order to make an intelligent decision regarding your offer. Your Agent will help you negotiate the terms and conditions. This is where the love of a dream home becomes the legal transaction of buying a house. Once you are ready to make an offer, we will meet to review the documents or send them to you electronically for your signature. The four main terms and conditions to consider are:
Other terms and conditions to consider are:
• Sale Price
• Inspections
• Earnest Money Deposit
• Attorney’s review of the contract
2. Review active listings with you
• Closing Date
• Contract Contingencies
3. Schedule showings for you to view properties
• Financing
• Association Bylaws (If applicable)
1. Set you up on a home search using the Multiple Listing Service (MLS)
4. Review minimum requirements (# of bedrooms, bathrooms, square footage, etc.)
THINK ABOUT:
• Consulting with your Agent regarding the next steps when you are ready to make an offer THINK ABOUT:
• Comparing and discussing properties you have seen with your agent • Reviewing and/or adjusting your parameters to find your dream home
• Discussing the price and terms of your offer for your prospective home • An acceptance of a counteroffer • Being prepared to compromise • Out of pocket expenses, (earnest money deposit, inspections costs, etc.)
• Touring Open Houses and register with your Buyer’s Agent
18
19
step 6 after your offer is accepted
step 7 after you buy
Once you and the Seller have agreed upon all terms and the sales contract has been signed, the Closing Manager will guide you through the details for closing on your new home. This includes discussing any repair issues that may arise at the home inspection, keeping you updated on contingency deadlines and being available to answer any questions along the way. Here are the first steps in the closing process: • Deliver Earnest Money Deposit (EMD) to your Agent • Apply for your loan and complete necessary paperwork with your lender
• Schedule your home inspection • Decide if you would like an attorney to review the contract and title documents
It is important to note that the loan approval process can take 30 to 40 days so it is critical to quickly provide any documents your lender requests. Keep in mind that the bank underwriters will request additional documentation once they have reviewed your file. Additional paperwork may even be requested just a few days before the closing. It is also common to receive the final dollar amount you need for closing the day before or the day of closing.
Once the agreement has been finalized, it is an excellent time to begin planning for your new home. There are still a number of steps that we can help you through, such as: SECURING INSURANCE. You’ll want to make sure the home
is insured the moment you sign the closing papers. With our resources, we will absolutely make certain you’ve got it secured. TITLE INSURANCE. Standard insurance that will be provided by
the title company. We will take care of it for you. FINAL WALKTHROUGH. It may have been a few weeks since
you’ve last gone through the house. We recommend a final walkthrough before closing.
THINK ABOUT:
• Your move-in plans and timetable THINK ABOUT:
• Transferring utilities, cable, internet, etc.
• Having funds liquidated and available for closing • Choosing an insurance company to provide your homeowner’s insurance • Scheduling movers • Transferring utilities to your name
20
21
step 8 closing
step 9 your new home
As the closing day approaches and your loan is approved, the Closing Manager will provide you with a checklist to help prepare you for closing. This checklist will include:
This is a gratifying time for you, your family, and for us at the Bouma Group. We are proud to have helped thousands of families and individuals find their homes. But our commitment doesn’t stop at closing. We want to help you get settled.
• Date and time of your closing • Location of your closing
Have questions about anything local? WE’VE GOT ANSWERS.
• Helpful reminders such as utility contact information Thinking about doing some renovation work? One to two days prior to closing, you will be provided with closing documents to review and the final dollar amount you need for closing. You will need a cashier’s check or the funds can be wired directly to the title company.
WE’VE GOT RESOURCES.
And further, do you need help moving? Our moving truck is available free of charge to The Bouma Group Clients.
A final walkthrough of the home will also take place just prior to closing. The closing will take place at a title company. Your Buyer’s Agent will attend both the walkthrough and the closing with you. Plan on a two hour window for both.
22
23
behind the numbers. top
�5
agent OUT OF 100,000
TOP 25 AGENT FOR KELLER WILLIAMS REALTY NATIONALLY
WE HELP OVER 200 FAMILIES A YEAR FIND NEW HOMES.
�5
years
��� sale
WE HAVE OVER 25 YEARS OF EXPERIENCE
WE DONATE OUR COMMISSION TO CHARITY ON THE 100TH HOME SALE
We have the experience and knowledge to help you find your new home.
25
your new home. We are happy you have chosen to work with the Bouma Group. Our goal is to help you find your new home and to exceed your expectations. Our goal is also to find the perfect home in what we believe is the perfect town. Part of our mission is to educate and expand your understanding of the home buying process. So we want you to understand your new city. And we want you to know as much as possible about the process.
The Bouma Group gets you there.
I can’t speak highly enough of Martin and the Bouma Group. My wife and I were looking to buy quickly in Ann Arbor, in the dead of winter. Martin and Heidi put together a list of possibilities very quickly, and worked tirelessly — weekends, nights, in bad weather, etc. — to get all the homes shown to us. We found one we loved, closed on it fast (what an amazing internal team handling the back-end details) and are all moved in. The Bouma moving truck was the icing on the cake. The Bouma Group has certainly earned a lifetime client here, no question. Thanks again guys!
– david mark,
PA S T C L I E N T
27
Welcome to Ann Arbor, Michigan.
Ann Arbor is... #1
#13
#6
#2
#4
#4
#7
#7
one of
#6
#7
#17
Most Educated Cities Forbes.com; 2014
Top 10 College Towns Livability.com; 2013
At the intersection of a vibrant city and a storied University is Ann Arbor: a community of education, vitality, healthcare, recreation, entertainment, big-time events, and more. Perfect for everyone from twenty-somethings
Best Cities for New College Grads 2014 Livability.com; 2014
Top 100 Best Places to Live Livability.com; 2014
Most Walkable Cities Governing.com; 2013
Best Cities in America to Find a Job US News; 2012
10 Coolest Cities in the Midwest MSN Travel; 2013
Most Creative Cities The Daily Beast; 2012
America’s Best Main Streets The Huffington Post and Fodor’s Travel; 2014
right out of school to young families to empty nesters to retirees, we believe Ann Arbor has something for everyone. Big city living in a smaller town environment. Welcome.
28
Best Cities for Well-Being USA Today and Gallup; 2014
Best Towns in Michigan for Young Families Nerdwallet.com; 2013
America’s Best Hospitals University of Michigan Hospitals and Health Centers US News and World Report; 2012 29
find your perfect location.
DEXTER Picturesque Dexter is a small city nestled along the banks of the Huron River. This friendly little hamlet has 2,800 residents and is conveniently located minutes from the City of Ann Arbor. The City of Dexter residents enjoy exceptional schools, many outstanding restaurants, and great shopping at numerous shops and boutiques, all scattered along the historical downtown district. Conveniences, such as your typical service providers including insurance and banking services, also dot the downtown area. CHELSEA Located in Washtenaw County, Chelsea has a population of 4,398. First settled in 1820 by Cyrus Beckwith, along with Elisha and James Congdon, Chelsea was primarily a railroad town served by the Michigan Central Railroad. Named by Elisha Congdon after his hometown of Chelsea, Massachusetts, the Chelsea of today is recognized for its growth and vitality. Chelsea has the unique ability to retain its small town charm. With convenient access to major highways, Chelsea residents can easily commute to Ann Arbor, the University of Michigan, Detroit, and other areas of Southeast Michigan.
30
SALINE A hidden jewel of a community located just outside Ann Arbor, Saline was recently voted one of the most desirable places to live in the US. Saline is also tops for offering a superior quality of life. It really makes no difference if you work, learn, play, or retire here, Saline is truly an ideal place to live. Just ask anyone and you will hear variations of the same theme: “We’re a friendly, family-oriented town.” YPSILANTI Home to Eastern Michigan University, Ypsilanti can trace its roots to early pioneers, trappers, and traders who traversed the Sauk Indian Trail, which is now Michigan Avenue. In the city’s recent past, the automotive industry played an integral role in the history, culture, and economy. If you’re seeking a fun city with plenty of things to do, Ypsilanti is known by its residents for outstanding festivals, and “Depot Town”: a hub for entertainment adjacent to Riverside and Frog Island parks. PLYMOUTH Situated just to the east of Ann Arbor, Plymouth is a desirable city with just over 9,000 residents. With multiple parks and a historic downtown area, it is host to major community events, including the Plymouth Ice Spectacular and Art in the Park. As a destination town, there are many restaurants and shops to visit. Plymouth offers established neighborhoods, along with newer upscale subdivisions.
Plymouth Dexter
Chelsea
Canton
Ann Arbor Ypsilanti
Saline Milan
the bouma group gives back.
Forsythe Frenzy FRENZY
The Bouma Group of Realtors has a proud history of giving back to the community. We support our community’s educational, cultural, and economic development activities. We also help those in need: For our 100th home sale, our sales commission dollars are donated to a non-profit organization chosen by the community at large. Being involved in the community allows us to
J A
Y S
maintain our pulse on the real estate of Ann Arbor, Washtenaw County, and the
Wolfpack Baseball
surrounding areas. This makes us your ideal consultant to find the perfect home or perfect property to match your unique needs.
32
Burns Park Players
Michigan Blue Jays
Kiwanis Club of Saline
33
This book is just the start. Our true point of difference is engaging with our team of specialists. We encourage you to pick up the phone or visit us online to arrange a meeting and discuss how we can help you find your new home.
734-761-3060 www.bouma.com
35
734-761-3060 www.bouma.com
ann arbor’s premier Realtor.