THE BUYER’S GUIDE Your personal guide to the home buying journey. This will answer many questions you may have before you find the home. Don’t worry your agent will be there every step of the way.
ABOUT INTERO In 2002, Intero’s desire wasn’t to be like all other brokerages. Not only were we committed to providing our residents and neighbors a service that heralded the very nature of where we live, we owed it to our new neighbors, recruited from all over the world to come and work for many of the most creative, progressive companies on the planet. Powered by an entirely new technology platform, backed by a solid investment, lead by a team of real estate veterans who were all born, raised and weaned right in the Silicon Valley, Intero Real Estate Services was born. Over the past seven years, against the pressures of a challenging market, we continued to advance our training programs, update all of our technology, grow our brand into other markets and build a luxury sub brand. We did all this because this is who we are.
VISION AND VALUES Guided by principles of trust, respect and integrity, we empower people to achieve their dreams. INTEGRITY Honesty above all else. We are true to our word and always strive to do what is right.
COMPETENCY We hire, train, and coach to ensure the highest level of competency in all areas of the organization.
COMPASSION We never underestimate the power of a smile, a kind word, or a listening ear. We exist to serve the needs of those we touch.
INNOVATION We have the courage to take calculated risks. We evaluate our service and our systems, and constantly reinvent ourselves.
LOYALTY We are loyal to our agents, our employees, our customers. We are loyal to our values and to our vision, ensuring that the goals of the individual and the group will be achieved.
OPEN COMMUNICATION We give and receive honest communication to maintain the strength of our organization and to sustain a dynamic environment. All communication is a true reflection of our thoughts and beliefs.
COMMITMENT We are dedicated to giving back to the community. We are dreamers with a purpose.
FRIENDSHIP It is a powerful force that comes from mutual esteem, respect, and devotion.
TEAM We accomplish more collectively than what we can alone. Everyone is a contributor.
FUN In order to keep an upbeat organization you must enjoy what you do and have fun with it.
PROFESSIONALISM We conduct ourselves with the highest standards.
FOCUS What you focus on expands.
ENTHUSIASM We enjoy the process and the journey. A sense of humor encourages progressive thinking.
CONFIDENCE You must believe in yourself if you expect others to believe in you.
INTERO ACROSS THE COUNTRY
ARIZONA Scottsdale 10565 N 114th St 480.338.0501 CALIFORNIA Brentwood 5541 Lone Tree Way Suite 150 925.516.9090 Brentwood 8640 Brentwood Blvd #D 925.634.1116 Castro Valley 3185 Castro Valley Blvd. 510.886.1100 Cupertino 10275 N. De Anza Blvd. 408.342.3000 Fremont - Mission 43225 Mission Blvd. 510.651.6500 Hayward 77 Jackson Street 510.690.1700
Hollister 800 San Benito Street, Suite C 831.637.2112
San Francisco 1788 19th Avenue 415.242.8177
Union City 32145 Alvarado-Niles 510.489.8989
Livermore 187 South J. Street 925.371.6500
San Jose - Almaden 5580 Almaden Expressway 408.754.9500
Woodside 1580 Canada Lane 650.206.6200
Los Altos 496 First Street Suite 200 650.947.4700
San Jose - Alum Rock 2254 Alum Rock Ave. 408.258.1111
Los Gatos 518 North Santa Cruz Ave. 408.357.5700
San Jose - Evergreen 2230 Quimby Rd 408.528.7800
Menlo Park 807 Santa Cruz Ave. 650.543.7740 Milpitas 248 Hillview Drive 408.956.2950 Sacramento 460 Drake Circle 916.204.9493 San Carlos 1250 San Carlos Ave. Suite 102 650.622.1000
San Jose Willow Glen 1567 Meridian Ave. 408.979.5900 San Ramon 11020 Bollinger Canyon Rd 925.498.0010 Santa Cruz 2222 East Cliff Drive 831.464.5310 Saratoga 12900 Saratoga Avenue 408.741.1600
San Diego - Chula Vista 3404 Bonita Rd. 619.920.9255 San Diego - El Cajon 220 West Main Street 619.402.1101 x100 La Quinta 78015 Main Street 760.564.2900 Rancho Cucamonga 10803 Foothill Blvd. 909.900.5855 Santa Barbara 510 State Street #275 805.729.6061 COLORADO Evergreen 29029 Upper Bear Creek Road 303.670.3232
NEVADA Minden/Gardnerville 1362 US HWY 395 South 775.783.5330 TENNESSEE Murfreesboro 3173 S Church St. 615.278.1700 TEXAS Austin 11120 Comanchero Rd. 512.784.5111 CYPRESS 9525 Huffmeister Rd Pearland 11200 Broadway St #2701 713.533.8133 Houston 2800 Kirby Drive B242 713.568.2389 Many more...
LET’S BEGIN
The home buying process is one of the most exciting, and frequently stressful, experiences you’ll ever go through. This holds true whether you’ve bought many homes or you’re looking to buy your first, whether you’re in the market for a new primary residence, an investment property or that perfect vacation getaway. Today’s real estate market can offer more opportunities, yet can be filled with more risks than ever before. There are a multitude of factors to consider and decisions to make. When buying, it’s crucial to have all the available resources necessary to make a well-informed decision, together with the time required to make use of them. It’s important to enlist the help of a trusted real estate professional who’ll be able to provide expert guidance at each step of the buying process.
WHY A REALTOR?
COMPLEX TRANSACTIONS
KNOWLEDGE
CHOOSING RIGHT
Buying real estate is a complex matter with many factors to consider since no two homes or transactions are alike. Moreover, with all the unique opportunities and potential pitfalls of the current market, it’s more important than ever to contact a real estate professional once you’ve decided to buy.
A knowledgeable Realtor can save you endless amounts of time, money, and frustration,.Knows the housing market inside and out. Can direct you to the best lenders in the area and can help you understand the importance of being pre-qualified for a mortgage. Experienced at presenting your offer to the homeowner and can help you through the process of negotiating the best price.
When choosing a real estate professional to guide y ou through the property search, financing, negotiation and transaction processes, you should consider their local market knowledge, experience, and track record.
PRE QUALIFIED We recommend that you get pre-approved for a loan before you start viewing homes with the serious intention of buying.
HOW MUCH CAN YOU AFFORD? The pre-approval process involves meeting with a lender and authorizing them to examine your current financial situation and credit history. On the basis of this examination, the lender may provide you with a document detailing the amount you can borrow to buy a home.
DOWN PAYMENT REQUIREMENTS Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan. If you are able to come up with a 20-25% down payment, you may be eligible to take advantage of special fast-track programs and possibly eliminate mortgage insurance.
GETTING PRE QUALIFIED The benefits of pre-approval include: You’ll know what you are eligible to receive and be able to plan accordingly. As a qualified, motivated buyer you’ll be taken more seriously when you make an offer Lenders can tell you if you qualify for special programs that will help you afford a better home (particularly if you’re a first-time buyer).
THE SEARCH Simply put, the key to the home search process is knowing what you’re looking for. Among other things, that means distinguishing between “must-haves” and “like-to-haves”. That said, here are a few recent facts about the search process that might put your experience in perspective: -92% of buyers use the internet or mobile apps to search for homes. -The typical buyer searches for 12 weeks and views 12 homes. -97% of buyers view real estate agents as important in the home search process. There are many benefits to starting the search process at a real estate website. You can view many homes and their details, take video tours and access neighborhood info. However, it’s also important to view homes in person. While the property details may seem similar online, homes can be very different in terms of layout, design, workmanship and other aspects. Ideally, you should view homes with the help of an experienced real estate professional who’ll notice things you might miss, provide expert analysis, and act as an impartial sounding board.
MAKING AN OFFER Once you’ve found the home you’d like to buy, it’s time to make an offer. Your state or local real estate association likely has contracts that are generally used for transactions in your area. These contracts enable you to specify a sale price and also allow the inclusion of clauses specifying various terms of purchase, such as the closing and possession dates, your deposit amount, and other conditions. Generally speaking, the seller can accept your offer, reject it, or counter it to initiate the negotiation process. Successive counter-offers, with deadlines for responding and meeting conditions, may be exchanged between you and the seller until a mutual pending agreement is reached or the negotiations breakdown.
HOME BUYING PROCESS
CLOSING Once you have a pending agreement, it’s time to return to your chosen lender to finalize mortgage details in order to close the deal. This means finalizing your down payment, interest rate, regular payment schedule and all other financial conditions associated with the closing. As the saying goes, ‘let the buyer beware’. Unfortunately, too many buyers suffer negative consequences from not fully understanding their financing decisions. Thus, it’s crucial for you to work with people you trust. In this regard, a good real estate professional can become a true friend for life.
If you’ve efficiently taken care of everything connected with purchasing your new home, taking ownership should be a positive joy with no surprises. Key steps to the closing, also referred to as the “escrow” or “settlement”, include:
GETTING TITLE SEARCH – you will need a historical review of all legal documents relating to ownership of the property
THE SETTLEMENT – typically, on the Closing Date you’ll meet with a lawyer, real estate professional, or escrow agent to verify and sign all the paperwork required to complete the transaction. The settlement will include paying your closing costs, legal fees, property adjustments and transfer taxes. At that point, you’ll receive the property title and copies of all documentation pertaining to the purchase.
TITLE INSURANCE – to ensure that there are no claims against the title of the property. It’s also necessary to purchase Title Insurance for protection in the event of errors in the records or mistakes in the review process.
THE FINAL WALKTHROUGH – you will be given the chance to look at the home one last time to make sure it’s in the same condition as when you signed the sale agreement.
THE ADVANTAGES OF HOMEOWNERSHIP
A home is most likely the biggest purchase you’ll ever make, and it marks a major step in life. There’s no scientific formula that tells someone when they’re ready to buy, but you should take stock of your financial situation as well as your personal lifestyle. In general, there are a number of advantages to homeownership, both tangible and intangible, that you’ll want to consider. Investment - Every payment you make on your mortgage puts you one step closer to acquiring a major possession. And every improvement you make to your property not only enhances your way of life, but also adds value to your home. Protection from Inflation - Once you purchase a home, the bulk of your housing costs are not exposed to inflation. That means your only housing expenses that will rise over time with inflation are property taxes, homeowners insurance and maintenance costs. Equity - Because a home increases in value even as you are paying down your loan, most buyers effortlessly build equity. Equity creates wealth and can help you accomplish any number of financial goals, such as paying for retirement and funding a child’s education. Tax Advantages - Your real estate taxes and the interest on your mortgage are deductible from your income tax. For many buyers, that tax break can go a long way toward making home ownership just as affordable as renting. Satisfaction - For many people, but certainly not all, home ownership simply makes life more enjoyable, whether it’s the pride that comes from decorating and maintaining your home or the knowledge that your children will grow up in the neighborhood of your choice. Home ownership is still the American Dream.
2800 KIRBY DRIVE, B242 HOUSTON, TX 77098 713-586-2300