Nina Dillingham | The Oldham Group @ COMPASS

The Originals of Real Estate

Buyer’s Guide

About the Oldham Group

The Oldham Group is a Collective of talented agents, staff, and support, led by Andrew and Jennifer Oldham - Founding Agents for Compass. Having closed over $1 Billion in sales volume during their career, Andrew and Jennifer lead a team that has substantially increased its business year over year while covering the expansive Silicon Valley, San Francisco Peninsula, and Monterey Peninsula real estate market. Because their agents have been selected based on their hyper-local expertise, they confidently represent a vast coverage area with in-depth knowledge - across Monterey Peninsula, Silicon Valley, and San Francisco Peninsula. With over 85 years of combined real estate expertise in marketing, law, title, design, and escrow, they provide their clients talents and expertise unparalleled in the California market. Combining their knowledge and experience with their love and passion for residential real estate, local expertise, exceptional marketing, personal service and the backing of the nation’s best luxury brokerage, Compass, they will prove to you the Oldham Group difference.

$300+M

Closed Volume in 2022

#73

Teams in the nation

#14

Top 100 producing agents or teams in the SF Bay Area

Over 220 #20

Transactions closed in 2022

Teams in California

oldhamgroupcompass

Oldham Group | Compass

Oldham Group at Compass californialiving.me

Nina Dillingham

SF Peninsula | Monterey Peninsula Specialist

With Zen-like approach, a wealth of market knowledge and impeccable customer service, Nina is your go to real estate consultant on both the San Francisco and Monterey Peninsulas. She is prepared to consult and advise you with completing your next transaction seamlessly. With the utmost attention to detail Nina provides you with state of the art marketing, 20+ years of managing and negotiating experience as well as an intimate knowledge of our local micro markets

She enjoys her spare time with her family and is an avid golfer, surfer, and skier -“Livin the California dream”. She remains dedicated to her community and volunteers with local charities Meals On Wheels and Dress For Success. She is hardworking, disciplined and has been a successful small business owner in Silicon Valley for 15+ years.

Nina attributes her years of success to the development of deep relationships and is looking forward to becoming your trusted real estate advisor.

Jennifer Oldham

Team Leader

Jennifer is a high-performing real estate professional, who is not only an experienced realtor and loan officer, but also a skilled negotiator and a real estate paralegal. What sets Jennifer apart is her ability to listen to her clients’ needs and use her indepth knowledge of the real estate market to negotiate the best deal to exceed the clients’ expectations. With more than two decades of experience working for residential real estate, title, escrow, and specializing in high net worth clients. Jennifer knows exactly what it takes to buy or sell a home. This is one of the reasons why she has been an award-winning Realtor since 2000 When working with clients, Jennifer first learns about what the client wants, then clearly explains the process, sets goals, and works hard to accomplish the best result. Jennifer has built the team on three simple principles: 1. Be Kind, 2 Be Professional, 3 Be an Expert Jennifer ensures each one of the Oldham Group Team members exemplifies this mantra without exception. Jennifer started in real estate 20 plus years ago in the Bay Area, and never quit.

She loves seeing great families find the right home, and wonderful agents expand their real estate acumen and experience An adrenaline junkie, Jennifer has sought out and excelled at every possible extreme sport, from racing dirt bikes to competitive boxing, ice skating to skydiving, she has done it all Her motto “Don’t eff it up!” pretty much sums up Jenn’s leadership style. Funny and full of love, this bad ass hugger makes long lasting connections with her clients and team members alike

Andrew Oldham

Team Leader

Originally a real estate lawyer, Andrew’s 40 years of real estate experience makes him uniquely able to tackle any real estate problem. From legal expertise, to escrow and title specifics, to brokerage, Andrew has done it all and he loves doing it, for his clients and his team. Before starting the Oldham Group, Andrew had a long career as a real estate litigator, and real estate entrepreneur.

After passing the bar, his real estate law career took off and he spent years in escrow litigation as a freelancer and salaried lawyer. In the nineties, Andrew founded a real estate company called eHome. eHome took advantage of burgeoning internet technology, and found a home for real estate there They raised 30 million in capital and were the first to make the MLS searchable for clients, not just agents, and expanded to three states.

When he’s not assisting clients and agents, or working with Compass to help them improve their tools and resources, Andrew loves walking Asilomar beach with his wife and business partner, Jennifer and their adorable Boston, Abby. Andrew prides himself on being a kind, and loving person first and foremost, and second (but just barely) an excellent real estate professional.

Testimonials

” I'm a first-time buyer, and very nervous, so the Oldhams solid expertise and confidence were a big help to me. I had a million questions about the fine print as we went along, and they were always there to walk me through things step-by-step in a video call. I really appreciated their firm guidance when I felt unsure, felt secure in their knowledge of the details, and always felt that they were in my corner. They knew just when to act and how to proceed at every turn, and got me a fantastic deal. They were also a joy to talk to, warm and funny and supportive and full of great anecdotes and insights, able to put me right at ease. I'd fully trust them again and would like to thank them for everything.”

” We are so grateful that we found Jennifer and Andrew! Since our first contact, we were working with friends that really understood our needs and desires. It was because of their relationships in the community that we were able to find and purchase our dream home off market. We absolutely recommend them for all your real estates needs.”

” Jennifer Oldham and the entire Oldham Group team is your best bet for finding and snagging the best house in a competitive market. In this day and age, buyers have many tools at their fingertips. We can set up custom searches and see listings as soon as they’re on the market. A realtor has to be so much more than a listing machine, and that’s Jenn, Andy and their team. They bring so much to the table, from escrow expertise, to off market homes, to a complete grasp of real estate markets around the Bay Area, and central coast. They have the knowledge, tenacity, and spitfire gumption to close any deal and get you into the house that fits. Period. Plus, they are kind, generous with their time, and have a team who reflects those same ideals. To make a long story short, working with Jenn and Andy at the Oldham Group will always be the right decision, and I would recommend them to anyone who needs a real estate professional.

Important reasons to start looking again

We’ve finally entered a more balanced market where you can buy a home, negotiate price, and protect yourself with inspections and appraisals.

Sellers are motivated right now. Honestly, some are even a bit discouraged because their property has been on the market for longer than they expected. You might actually be in a position to negotiate something off the asking price, which hasn’t happened in almost 2.5 years.

The increase in interest rates may be offset by the decrease in prices you are seeing in the market. I can show you how you might be in a better position.

While interest rates are up today vs 4 months ago, they’ve actually gone down over the past few weeks. Getting a mortgage may be easier right now versus later if a recession hits and banks tighten lending standards even further.

When it comes time to get a mortgage, remember you have lots of options. You don’t have to get a mortgage today, you can get a temporary mortgage in the form of an ARM and then if the recession happens, the FED will likely lower rates and at that time you can get your permanent mortgage.

I can appreciate the thought of continuing to wait right now, but I want to remind you that there will be many other buyers who are thinking the same way. When it comes time for you to start your search again, they’ll be doing the same and you’ll face increased competition. Focus on quality: when there are few options, buying quality is even tougher.

Important reasons to start looking again

The market has finally stabilized with more inventory becoming available, so this is the best time to buy a house in the past 2 years.

Are you aware that even with the increased interest rates in today’s market, you are likely to pay a lower price which also means your down payment is less than just a few months ago yielding a very similar, maybe even lower, total cost for you?

The US has underbuilt millions of units, and remember that construction slows in a recession. This could lead to even worse shortages, which cause price gains, when the market recovers — and it always recovers. It will just be a matter of time.

Let’s discuss your long-term goals. Historically, owning property has served as a great investment. Very few people own a home for 2-3 years. Most live in their home for 7-13 years. Almost all homes bought in 2007, prior to the Great Recession, recovered fully and escalated in value. Those owners built equity and were not paying (rising) rent to a landlord.

Why Get Pre-Approved

Pre-approval is different from pre-qualifying, as it is a full loan approval instead of an opinion letter. It is recommended to get pre-approval before looking at homes. Finding out what you qualify for will help you look in the right price range

Determining the Right Price Range

The first step in buying a house is to determine the price range that is right for you. You will need to consider how much you are prepared to invest in your home and how much you will need to borrow. You should also consider how much property taxes and insurance will add to your monthly mortgage payment.

Determining Cash You Will Need

You will need enough cash to cover both your down payment and any closing costs associated with the purchase. Closing costs vary significantly based on the terms of your loan but are generally 1% to 2% of the purchase price.

Determining Additional Costs

Your Compass agent will help estimate your purchasing power and your carrying costs, but it is highly recommended that you discuss your cash needs and tax ramifications with an accountant and/or financial advisor.

Pre-Approval for a Loan

An offer is given greater consideration by a seller if it is accompanied by a preapproval letter from a reputable lender or a local mortgage broker. This 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:

1.Income

2.Savings/capital/investments

3.Credit history

4.Debt level/ratio

5.Employment history

6.The value of the property you wish to purchase

Things you should NOT do when applying for a home loan

Below are a list of things to steer clear of when seeking to obtain financing for a home. The following items may be detrimental when trying to move forward with the loan process

DON’T buy new furniture or major appliances for your new home

DON’T buy or lease an auto before you apply for a home loan

Lenders look carefully at your debt-toincome ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.

DON’T move assets from one bank account to another

These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to.

DON’T change jobs

A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes.

If the new purchases increase the amount of debt you are responsible for, there is the possibility this may disqualify you from getting the loan, or cut down on the available funds you need to meet the closing costs.

DON’T run a credit report on yourself

This will show as an inquiry on your lender’s credit report. Inquiries must be explained in writing.

DON’T attempt to consolidate bills before speaking with your lender

The lender can advise you if this needs to be done.

DON’T pack or ship information needed for the loan application

Important paperwork such as W-2 forms, divorce decrees, and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.

The Flow of a Real Estate Transaction

Seller Buyer

Agent presents Comparable Market Analysis

Price established, Listing Agreement signed

Inspections facilitated

MLS (Multiple Listing Service) Marketing, advertisement Open House showings

Disclosures provided

Purchase offer presented to Seller

Commitment to the agent

Market education

Financial pre-qualifications

Negotiation of terms

Sales contract accepted

Viewing properties

Property of choice located

Writing offer with agent

Escrow opened Earnest money deposit

Loan process initiated

Disclosures inspection

Preliminary Title Report

Possible additional negotiations

Inspections obtained (if necessary) Inspections facilitated Conditions removed

Escrow closing procedures

Loan funding

Property title records at City Hall Utilities transfer to Buyer

Escrow

Escrow: What is it?

Escrow is the period of time between your offer being accepted and your purchase being finalized. Escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event.

Why Do I Need an Escrow?

Whether you are the buyer, seller, lender or borrower, you want assurance that no funds or property will change hands until ALL of the instructions in the transaction have been followed. The escrow holder has the obligation to safeguard the funds and/or documents while they are in the possession of the escrow holder, and to disburse funds and/or convey title only when all provisions of the escrow have been complied with. The escrow officer is a neutral third party and does not represent any one party.

Your title company will provide you with a preliminary title report for the buyer to be made aware of any encumbrances on the property.

Your title company also provides title insurance to ensure delivery of clean title.

How Does Escrow Work?

The principals to the escrow—buyer, seller, lender, agents—cause escrow instructions, most usually in writing, to be created, signed and delivered to the escrow officer. If a broker is involved, he will normally provide the escrow officer with the information necessary for the preparation of your escrow instructions and documents. The escrow officer will process the escrow, in accordance with the escrow instructions, and when all conditions required in the escrow can be met or achieved, the escrow will be “closed.” The duties of an escrow holder include: following the instructions given by the principals and parties to the transaction in a timely manner; handling the funds and/or documents in accordance with the instruction; paying all bills as authorized; responding to authorized requests from the principals; closing the escrow only when all terms funds in accordance with instructions and provide an accounting for same: the Closing or Settlement Statement. The escrow officer can ONLY take instructions from all parties in agreement. No one party in the transaction can soley give instructions. The escrow officer does not represent any one party— they are a neutral 3rd party in the transaction.

Escrow

How Long Does Escrow Last?

This is determined on a case by case basis and will be written into the offer. Generally, 30 days is common. However, in some cases, you (or the seller) may need more time. In some cases, it is shorter, for example with an all cash deal.

Who Chooses the Escrow?

In the Bay Area, it is usually the buyer’s choice, as the buyer pays the escrow fees. The selection of the escrow holder is normally done by agreement between the principals. If a real estate broker is involved in the transaction, the broker may recommend an escrow holder. However, it is the right of the principals to use an escrow holder who is competent and who is experienced in handling the type of escrow at hand. There are laws that prohibit the payment of referral fees; this affords the consumer the best possible escrow services without any compromise caused by a person receiving a referral fee.

What Happens During Escrow?

The escrow period gives all parties involved the time needed to comply with the terms of the offer and prepare to transfer title from the seller to the buyer. During this period, you do several things, all of which your agent will help you with:

You put down a refundable deposit of 3% of the purchase price which is held by the title company

01 02

Your lender processes your loan and will ask you for various information needed to approve you

03

You review and sign disclosures

04

You do your due diligence on the property, and remove your contingencies by the deadlines you requested in your offer

05

You have any inspections you wrote into your offer done

06

The lender orders an appraisal for the property

07

You sign all loan and title documents when they are ready

08

Closing happens a couple days after you sign documents

Ways to Hold Title in California

Parties Any number of persons (including married or registered domestic partners).

Division Ownership can be divided into any number of interests; equal or unequal.

Title Each co-owner has a separate legal title to his or her undivided interest.

Any number of persons (including married or registered domestic partners).

Owner interests must be equal.

Co-owners must acquire interest at the same time and from the same person (may be created by deed from a sole owner to self and to others).

Only married couples or registered domestic partners have community property rights.

Ownership and managerial interests are equal.

Title is in the “community.” Each interest is separate but management is unified.

Possession Equal rights of possession. Equal rights of possession. Both co-owners have equal rights of possession.

Conveyance Each co-owner’s interest may be conveyed separately by its individual owner

Death Upon co-owner’s death, his or her interest passes to that person’s devisees or heirs. No survivorship right.

Successor’s Status Devisees or heirs become tenants in common.

Presumption

Only married couples or registered domestic partners.

Conveyance by one co-owner without the others will sever (terminate) the individual’s joint tenancy.

Upon co-owner’s death, his or her interest ends and cannot be disposed of by will. Joint tenant survivor(s) own(s) the property. An affidavit may establish fact of death.

Last survivor owns property 100%.

Must be expressly stated in the deed.

Conveyance requires both parties’ signatures.

Upon death of spouse or registered domestic partner, 50% belongs to surviving spouse or registered domestic partner, 50% may go to surviving spouse or registered domestic partner or may be disposed of by decedent’s will.

If passing by will, tenancy in common between devisees and survivor results.

The legal presumption is the property which has been acquired during the course of the marriage or registered domestic partnership is community property.

Only married couples or registered domestic partners.

Ownership and managerial interests are equal.

Title is in the “community.” Each interest is separate but management is unified. Title must expressly state community property with right of survivorship.

Both co-owners have equal rights of possession.

Conveyance requires both parties’ signatures.

Upon death of one spouse or registered domestic partner, his or her interest ends and cannot be disposed of by will. Survivor owns the property 100%. An affidavit may establish fact of death.

Last survivor owns property 100%.

Must expressly state community property with right of survivorship.

The information concerning ownership vesting is for informational purposes only. Contact an attorney or CPA if you desire advice regarding a specific manner of holding title to property. This flyer lists ways for two or more individuals to hold title together. OLDHAM

Escrow Charges, Title Fees, and Transfer Taxes Who Pays for What

information provided on this flyer is for general informational purposes only, should not be solely relied upon, and is subject to change without notice.

OLDHAM GROUP

Key Terms

Get a better understanding of common real estate language and practices.

Appraisal Debt-to-income ratio

Assessment of the property’s market value, for the purpose of obtaining a mortgage and performed by a licensed appraiser.

Assessed Value

Value placed upon property for property tax purposes by the tax collector.

Closing Costs

Expenses incidental to a sale of real estate, such as loan fees, appraisal fees, and title insurance.

Contingency

The percentage of an individual's monthly gross income relative to the amount of debt owed.

Earnest Money Deposit (EMD)

A good faith deposit the buyer makes with an offer to show that you are serious about buying the property. In exchange, the seller agrees to stop marketing the property.

Final Walkthrough

The buyer reviews the house just before closing to make sure everything is in the same condition and that all home

Inspection

An expert conducts a formal review of the property to find visible issues that need to be repaired. Buyers typically make their offers contingent on an inspection, but sellers can conduct a pre-offer inspection to appeal to buyers. The buyer may choose to do additional inspections like radon and a sewer scope.

Lien Search

A background check on the property and the seller to ensure there are no outstanding debts or claims upon the property.

Pre-Approved

Advanced approval from a bank or other lending institution for a home mortgage.

Pre-Qualified

Potential buyers provide an overall financial picture and mortgage brokers provide an estimate of what level of loan you will likely be pre-approved for.

Title Insurance

Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.

Recording Fees

A fee paid to the local government to officially report a sale of a home; usually paid by the buyer.

The Compass Advantage

Compass takes a tech-driven, personalized approach, combining a collaborative agent community, in-house creative agency, and the industry’s most tenured leadership team.

Amazing partners

*Source: Broker Metrics. Residential sales for eight Bay Area counties from 11/1/20 - 10/31/21.

My Compass tools and programs help you find your next home

Collections

Collections lets you compare multiple properties—their size, neighborhood, amenities—within a central visual workspace. I can monitor market activity in real time, stay in constant contact, and invite collaborators to join in on our search discussions.

Coming Soon and Private Exclusives

What buyer isn’t looking for an edge over the competition? Browse unique properties that are only viewable on Compass.com and discover your future home before it even hits the market.

Search

Compass Search can sort by a wide range of features and amenities to pinpoint the perfect home. Plus, discover exclusive Compass listings you won’t find anywhere else and receive realtime notifications of new homes with customized Saved Searches!

Exclusive products of the Oldham Group that assist you as a home buyer

All Cash Offer Program

How it works?

1. Get approved

Our partner will verify your income, assets, and purchasing power so that they're ready to make the strongest offer possible - one that's all cash.

2. Find your dream home

This is the fun part: You tour homes with us until you find the right one.

3. Make an all-cash offer

Our partner will use their funds to make an all-cash offer on the house on your behalf and close in 8 days. You don't need to move a muscle.

4. The offer is accepted

You do the celebrating and our partner does the buying. They purchase the home and hold it while you secure financing.

5. Take ownership and move in

As soon as your loan closes, we sell the home to you at the same purchase price with either the standard 21-day no fee close or the express option that includes a small program fee of 1% of the home purchase price. Move on in!

Trade-In Program

How it works?

1. Get a guaranteed offer

Our partners will work with us to make an offer on your current home - and guarantee it. That's the price they'll pay you for your current home as soon as you're ready to move into your new home.

2. Make a strong offer on your new home

When you've found the home of your dreams, you'll be ready to make an offer with no lending or home sale contingency. This means you're more likely to close and can do so on your own timeline.

3. Move in on your schedule

Once your offer is accepted, everything comes together in days, not months. Our partner buys your home at the guaranteed price so you get the cash to close on your dream home and control when you move.

4. Get full market value when we sell your home

We list your past home. If your home sells for more than our partner paid for it, they give you the additional cash minus selling costs and program fees.

Buy Before You Sell

How it works?

1. Get a Guaranteed Offer Price

You’ll get a guaranteed offer price for your home, so you can move forward with confidence. Unlike trade-in, our partners only purchase the departing residence if necessary, rather than upfront. If your home hasn’t sold within 90 days after the closing on your new home, our partner will step in and purchase it for the guaranteed offer price. Now you can secure a loan for your new home without any home sale contingency because you’ll have a guaranteed offer from our partner

2. Make a strong offer on your new home

When you’ve found the home of your dreams, you’ll be ready to make an offer with no home sale contingency. This means you’re more likely to close and can do so on your own timeline. Want to tap into the equity you have in your current home? Our partner can provide a down payment loan on your new home.

3. Move in on your schedule

Once your offer is accepted, everything comes together in days, not months. You can move into your new home immediately upon closing. Worried about covering two mortgages? Our partner can advance funds to cover the mortgage payments on your old home until it sells at no added cost.

4. Get full market value when you sell your home

We will list your prior home within 10 days of closing on your new home. If the home doesn’t go under contract within 90 days after the closing on your new home, our partner will purchase your home for the guaranteed offer price. We then work with our partner to re-list the home. If your home sells for more than the guaranteed offer price, you’ll receive the additional cash after program fees and costs.