Homebuyer Guide

Jeff Edmisten & Ruthie Buck

We want to thank you for taking a few minutes to review this brochure. We appreciate the opportunity to earn your business, and realize that selecting a REALTOR to guide you through the purchase of your home is a very important decision.

Our mission is to connect buyers with the best possible deal on their dream home. That is the way we embrace every day and every client, with a willingness to fight to protect every dollar of our client’s investment.

Our promise to you is that we will provide an uncompromising commitment to exceptional personal service.

A friend recommended Jeff to me as we searched for a home in Virginia while still living in California. Jeff did all of the legwork for us as we house hunted from across the country. He responded immediately to questions, was very thorough in his responses, and demonstrated respect for our needs and wants in a home.

When we fell in love with a house that we saw online, Jeff went to the house the very next morning to check it out for us. Jeff felt that the house was going to sell very quickly, so we took a very big risk and put a bid on it without actually seeing it. While some thought we were crazy, we had enough faith in Jeff’s assessment of the house and the market to trust his judgment.

He ended up being exactly right. There were multiple offers on the house within days, and Jeff went to bat for us when it came down to one other offer vs. ours. We had given up hope, but Jeff pushed the sellers and their agent, and they ended up accepting our offer.

I am writing this recommendation from the home that we are in thanks in large part to Jeff and Ruthie. I cannot recommend them highly enough. Their hard work, knowledge, expertise, courtesy, and respect for their clients and their needs is invaluable to anyone wishing to buy or sell a home.

Kerry McSheaStafford, Virginia

What our clients say…

• Many renters think that they really can’t afford to buy a home.

• Here is a quick way to estimate how much house your monthly rent payment would buy.

• Multiply your monthly rent payment by 175. For instance if your rent payment is $1200 per month, that same monthly payment would equate to a home priced at approximately $210,000.

This is only a quick way to estimate buying power, and depends upon current mortage interest rates and multiple other factors.

How much home will your rent payment buy?

• Except in rare circumstances, home owners build wealth with their home.

• Homes generally increase in wealth over time.

• Well chosen home improvements can add significant value to your home.

Trade down in later years and use the equity you built to buy a smaller home, thereby reducing your debt.

Access your equity via a home equity line of credit.

Reverse mortgage – have your home’s equity providing you monthly cash flow

Home Ownership Builds Wealth

Don’t Overspend

A word of warning…

YOU decide how much home you can afford. Not your lender, or REALTOR, or anyone else.

Your lender can tell you how much you qualify for, but not what you can afford.

You should own your home. Your home should NOT own you!

Picking a lender

Attributes to look for in a lender

Straightforward and transparent Local approval and underwriting Understands the market & your

goals Competitive interest rates Organized and detailed oriented

Determine your budget and how much you can afford.

Get pre-approved for a mortgage.

Gather the documents you’ll most likely need.

Two most recent pay stubs.

W-2 forms for the past two years.

Federal tax returns for the past two years.

Last two months bank statements.

Long-term debt information such as credit cards, auto loans etc.

The Financing Process

A lender will check your credit to see if you’re a good candidate for a loan.

If your credit rating is poor, there are things you can do to improve it.

Make sure the report is correct. If not, call to fix it.

Begin to pay your bills on time. Use two to four credit cards so you

can keep track of them. Keep a separate checking and

savings account. Keep the same job for a few years

Getting Approved

Pre-Approved vs. Pre-Qualified Pre-Approved: confirmation

the lender will give you a commitment to support your purchase.

Pre-Qualified: an estimate of what you can afford.

Being pre-approved makes you a more attractive candidate to the seller when making an offer.

Fixed Rate Mortgage: The interest rate stays the same for the entire term of the loan.

Adjustable Rate Mortgage: The interest rate is linked to a financial index and may fluctuate with market conditions. As such, payments may vary over the life of the loan.

Deciding On A Mortgage

No prepayment penalty

Avoid loans with prepayment penalties Some mortgages include a clause that penalizes you for paying off the loan faster or earlier than planned.

These penalties can cost as much as several percentage points payoff balance.

There are few circumstances where you should be in a loan that includes a prepayment penalty.

Prepaymentpenalty

Calculating Your Budget

To estimate your budget, add up your total financial worth and then subtract all the cost in the purchase.

Some expenses you may carry: Down payment Mortgage Insurance Taxes Points Attorney’s fees

The Fun Begins

Things to consider: Size of property Type of neighborhood you

desire Quality of school system Nearby public transportation Urban or suburban

Picking a neighborhood

Elements of a good neighborhood:

Economically sound Great amenities Quality schools Low crime Stable ownership Pride of ownership

Choose your REALTOR

A great agent can help you find your home, negotiate, supervise inspections, manage the closing and MUCH more.

Your agent should…

Educate and inform you Guide you, but not push you Advise you when to call in

additional experts Be a full-time agent Have great client references

Multiple Listings, Open Houses & Special Features

As your Coldwell Banker® Sales Associates, we can show

you every home available on the market that meets your specific needs.

Online Access

JeffandRuthie.com provides access to every home sale listing through the local multiple listing service. (MLS)

There are many ways you can search for your next home using our website. The most popular method is using the Real Estate Search form found throughout the site.

Many others prefer the Communities Pages, which provides instant access to homes for sale within that specific community.

Online Access

Searching homes from your mobile device? No problem!

Our Coldwell Banker Home and Lifestyle App makes searching for homes on your smart phone or iPad fun and efficient.

Get yours today! Text "KP9" to 87778 to get the Coldwell Banker Elite Home and Lifestyle App.

iPad Screen Shot

Buyers Resources

There is more to JeffandRuthie.com than just home searching. There is a wealth of resources, like our free home buyer reports to help you save money and avoid costly mistakes.

FREE BUYER REPORTS

• Top Ten First Time Home Buyer Mistakes To Avoid• 7 Secrets for Saving Thousands When Financing Your Home• 4 Quick Ways To Buy A Home With Little Down• 8 Secrets For Saving Thousands When Buying Your Next Home• How To Avoid 8 Dumb Mistakes Even Smart Investors Make

Writing the Offer

Once you’ve found the perfect home, we will develop a Comparable Market Analysis (CMA) of the property to find a fair market value range.

This will help you decide how much to offer for the home.

Writing the Offer

Then, we will write up the offer and ensure all paperwork and activities are completed so you can close on your property.

Contingencies Think of contingencies in your contract as escape hatches. You only need them if something goes wrong, but if it does, your contingencies give you a way out… and protect your investment.

Some contingencies that may be included in your contract to protect you…

• Home inspection• Radon inspection• Termite inspection• Well and septic inspection• HOA documents• Financing• Appraisal

The Closing

This is the meeting where the transaction is finalized. We will guide you through all closing procedures to make your home officially yours.

Enjoy Your New Home

THANK YOU FOR THEOPPORTUNITY

Jeff Edmisten & Ruthie Buck

Coldwell Banker Elite990 Bragg Rd.

Fredericksburg, VA 22407

(540) 538-7222 Jeff cell(540) 455-8374 Ruthie cell

jedmisten@cbeva.com Jeff emailrbuck@cbeva.com Ruthie email

Jeff Edmisten & Ruthie Buck

Coldwell Banker Elite990 Bragg Rd.Fredericksburg, VA 22407

(540) 538-7222 Jeff cell(540) 455-8374 Ruthie cell

jedmisten@cbeva.com Jeff emailrbuck@cbeva.com Ruthie email

©2013 Coldwell Banker Real Estate LLC. A Realogy Company.  All Rights Reserved.  Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated.  Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Each agent and broker is responsible for complying with

any consumer disclosure laws or regulations.