CENTURY 21 Affiliated Buyer's Guide



CENTURY 21 Affiliated is the local leader you can trust with 40 years of experience. We have 120 offices & 2,700+ Sales Associates throughout Florida, Illinois, Indiana, Michigan, Minnesota and Wisconsin. • #1 CENTURY 21 ® franchise in closed units, eight years in a row • Holds the Century 21 ® record for most transactions sold

• Included in Real Trends Magazine “Top 500 Companies in the U.S.” • Pinnacle Quality Service Award Winner for customer service • Presidents Club Award winner for production



Until recently, real estate agents always represented the seller, not the buyer, in real estate transactions. Even that real estate agent who drove you from house to house looking at properties was not working on your behalf. By law, the agent was always required to get the highest price and best terms possible —for the seller! Recent market developments have caused all this to change, as more and more real estate agents and companies are offering to represent the buyer in the real estate transaction. You can now have an agent specifically committed to representing you , from the initial selection of properties, to the contract negotiations, to the settlement table. More than one million people in the United States are licensed to sell real estate. Of those licenses, very few are Buyer Representatives. Consumer advocacy groups have endorsed such representation, and licensing laws in virtually every state are now being reformed to enable and encourage representation for the buyer. Whether you’re a first-time buyer or an experienced buyer, it is good to know that your real estate agent has your best interests in mind as you select a home.

• Protect the interests of their clients • Are experts in marketing properties and educated in the sales process • Know how to value a home • Bring buyers and sellers together • Have a large network made up of other Realtors & potential buyers • Are experienced negotiators • Handle sales calls, emails and follow-ups • Have strict educational requirements • Have the most current market data • Arrange advertising • Are bound by a strict Code of Ethics • Use their extensive resources to market their listings • Understand paperwork & necessary documentation for a sale • Negotiate on their clients’ behalf for the best deal possible • Sweat the details to reduce the stress of their clients

Property Search Your buyer representative will appraise your particular criteria for a house and neighborhood, then search for properties that fit those specifications. Your buyer representative will set appointments for showings and monitor the market as new listings become available. Market Data Market value is determined by many factors, including the availability of similar properties at competitive prices, location, condition, and most of all the price that a knowledgeable buyer is willing to pay. Your buyer representative will provide market data to help you establish an offering price. Purchase Offer There may be other considerations besides price that are equally important in structuring a purchase offer. The terms and conditions of the offer, the amount of deposit and possession date are likely to be factors when an offer is made. Your buyer representative will help in your preparation of a USE AN EXPERIENCED BUYER REPRESENTATIVE

purchase offer. Negotiating

When a purchase offer is made, the sellers may be concerned with certain aspects including the ability of the purchasers to fulfill their agreement, the terms and conditions of the offer, the breakdown of closing costs between buyer and seller and even the motivations and lifestyle of the prospective new owners! Your buyer representative will help structure a negotiating strategy that will create the desired

result; a new home. Handling Details

A lot has to happen between signing the purchase offer and moving into a new house. Your buyer representative will attend to the details and keep you in touch with the transaction each step of the way. Sellers list their homes with real estate agents to ensure professional representation throughout the home selling process. As a buyer, you deserve the same kind of service!


• We will help you determine the required characteristics of your new home. • We will identify available homes that meet your criteria whether they are listed by CENTURY 21 Affiliated or another Realtor. • We will provide you with information on communities, schools, churches and any other area characteristics you need. • We will determine the maximum mortgage amount for which you are qualified.

• We will advise you of the financing options available to you. • We will give you an estimate of the cash required for purchase. • We will communicate with you periodically to review progress. • We will advise you on the preparation of an offer.

• We will monitor progress toward closing when your contract is accepted. • We will immediately advise you of events that may threaten closing. • We will stay in contact with the listing agent to make sure things are proceeding smoothly. What Do Buyers Need? What do buyers want most from their Real Estate professional? Real estate professionals best serve their clients when they know what home buyers expect from them.

46% Other

Slice : 2

16% Help negotiate terms of sale

Slice : 16

46% Help to find

the right house to purchase

9% Help with paperwork

Slice : 9

Slice : 4 6

8% Determine

what houses are selling for

2% Help find and

arrange financing

Slice : 8

4% Tell you how much

house you can afford

Slice : 2

13% Help with price negotiations

Slice : 4

Slice : 13


Loan Application Verify Financial Info (Income, Employment, Residence, Credit Report)

Initial Buyer Consultation with your Realtor

Pre-Approval Completed by your Lender

Initial Meeting with your Lender


Go View Properties

Write an Offer Initiate Offer of Earnest Money

Negotiate Offer Counter Offer

Fully Execute Contract Time Clock Begins Attorney Approval

Home Inspection per Contract Terms

Home Appraisal as Part of Loan Approval Process

Review Documents (Seller Disclosures)

Sign Loan Documents (Either Prior or at Closing)

Contingency Removal (Buyer Investigations, HOA, Appraisal, Loan)

Full Loan Approval

Final Walk Through (Confirmation Condition of Home)

Bring Any Additional Closing Funds to Closing

Plans to Contact Utilities (Gas/Electric, Water, Cable/Internet etc.)

Handing Over of Keys - Possession Taken

Loan is Funded



Using the Internet, you can pre-screen homes through c21affiliated.com, where you will be able to view photos, videos, and detailed listings of millions of properties.

Your CENTURY 21 Affiliated Agent can arrange home tours for properties you are interested in visiting. You can save properties within your profile on c21affiliated.com or save your search criteria and sign up for listing alerts so new listings matching your search will be automatically emailed to your inbox. Use the interactive mapping tool to precisely define your search or search by school attendance zone. You can also use the CENTURY 21 mobile app available on all smartphones for easy access to millions of listings on the go.

Relocation Services CENTURY 21 Affiliated has a full-service Relocation Department designed to assist the client and their family in all aspects of moving and adjusting to a new community. Our services include:

• Listings displayed on 500+ of the nation’s top real estate websites • World class consumer websites • Unique property site for a single listing, social media exposure, and responsive company website

• Marketing Assistance • Relocation Counseling

• The newest technological advancements • Lead capture & management systems Smooth Transactions Our CENTURY 21 Affiliated professionals have been trained to make the sales process as simple as possible for our clients.

• Information on the Community • Exclusive Buyer Representation • Home Finding • Area Orientation Tour

• Mortgage Services • Follow-up ensuring successful Relocation

• Mortgage and Title Services • Relocation Department

• Homeowner Warranty Protection • Skyslope Transaction Management

• CARTUS Resources (helps relocating employees and their families find their way to new homes and new communities)

HOME INSPECTIONS Home inspections are conducted to assure a buyer that the home is in acceptable condition. If the inspection turns up any major problems, buyers can decide whether to ignore the findings, negotiate the sale price to reflect the cost of necessary repairs, or walk away from the transaction. Most home inspectors provide buyers with a comprehensive report on their evaluation of:

STRUCTURAL ELEMENTS — Construction of walls, ceilings, floors, roof, and foundation.

EXTERIOR EVALUATION — Exterior wall covering, landscaping, grading, elevation, drainage, driveways, fences, sidewalks, fascia, trim, doors, windows, lights, and exterior receptacles. ROOF AND ATTIC — Framing, ventilation, type of roof construction, flashing, and gutters. Roof certification and guarantees of roof condition are not included. PLUMBING — Identification of pipe materials used for drinkable water, drain, waste, and vent pipes, including their condition. Evaluation of toilets, showers, sinks, faucets, and traps. Sewer inspection is not included. SYSTEMS AND COMPONENTS —Water heaters, furnaces, air conditioning, duct work, chimney, fireplace, and sprinklers. ELECTRICAL — Main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans, and light fixtures.

APPLIANCES — Dishwasher, range, oven, built-in microwave, garbage disposal, and smoke detectors.

GARAGE — Slab, walls, ceiling, vents, entry, firewall, garage door, openers, lights, exterior,windows, receptacles, and roof.

FINANCING YOUR HOME There are three crucial financial elements involved with purchasing a home:

DOWN PAYMENT — This is how much you will pay up front. The more you pay outright, the smaller your mortgage can be. The standard down payment is 20% of the cost of the home, but there are other programs available especially for first-time homebuyers. Your CENTURY 21 Affiliated Agent and a mortgage broker can help you investigate first-time homebuyer opportunities, including Federal Housing Administration, Veteran Affairs, and other programs to advise you of the best fit for your situation. CLOSING COSTS — The cost of attorneys, appraisals, title insurance, inspections, and title transfers can add up. Your CENTURY 21 Affiliated Agent will help you estimate these costs to minimize surprises. MORTGAGE AND ESCROW — Your mortgage is a loan and carries with it an interest rate, dictated by the mortgage market, your credit score, and the loan-to-value ratio of the home. Escrow deposits are monthly payments collected by your mortgage lender to pay the costs of things such as hazard insurance, private mortgage insurance (if applicable) and property taxes. Escrow deposits are usually combined with your monthly mortgage payment. The Importance of Your Credit Score A buyer’s credit score, which is a number lenders use to estimate risk, is a determining factor when applying for a mortgage. Experience has shown that borrowers with higher credit scores are less likely to default on loans, therefore, lenders tend to attract them by offering better interest rates and loan programs. Lenders determine your credit score by plugging data from your credit report into their software for analysis. That’s why it is important to make sure the information on your credit report is accurate. It is recommended that you verify the accuracy of your credit report annually and address any inaccuracies immediately. Talk with your mortgage broker about the frequency and timing of pulling your credit report. Pulling your credit report frequently may negatively impact your overall rating.

FINANCING YOUR HOME There are many types of mortgages. Choosing the type that is best for you is an important decision since this is a long-term loan commitment. The following list briefly describes various programs, but you should consult your mortgage broker for specific details: CONVENTIONAL/FIXED RATE MORTGAGE — Loans that have monthly interest and principal payments that remain constant for the life of the loan, which is usually 15 or 30 years. ADJUSTABLE RATE MORTGAGE (ARM) — Loans that allow the lender to adjust the interest rates periodically in accordance with a specified index and as agreed to at the inception of the loan. Always consider the long-term impact of changing rates. CONVERTIBLE MORTGAGE — Adjustable loans that may be converted from adjustable to fixed rate during a predetermined time period within the life of your loan. INTEREST ONLY MORTGAGE — Loan is “interest only” if only the scheduled monthly mortgage payment is made. The payment the borrower is required to make has no principal component. If the borrower pays only what is required, the principal balance of the loan will remain unchanged. BALLOON MORTGAGE — Loans with principal and interest components that do not fully repay the loan during the loan term, but instead leave a “balloon” payment at the end of the term. GRADUATED PAYMENT MORTGAGE — Flexible payment loan that begins to lower and increase gradually at a predetermined rate until leveling off after a portion of the mortgage term expires.

BI-WEEKLY MORTGAGES — Loans with payments due every two weeks, totaling 26 payments a year.

CONSTRUCTION LOANS – Short-term, interim loans that finance the costs of new-home construction.

GOVERNMENT-INSURED LOANS — Loans that are guaranteed or insured, but not funded, by the state or federal government. With these types of loans, lenders still provide the funds, but the government protects the lender against loss in the event that the borrower defaults. Types of Government-Insured Loans VA LOANS — Programs for veterans provide special home financing. FHA — Loans made through a lender that is approved and insured by the Federal Housing Administration (FHA) — These loans are designed to finance moderately priced homes, have a low down payment, and can be fixed or adjustable rate mortgages.

FINANCING YOUR HOME Your transaction may be complete, but we will continue to work to make sure the rest of your home owning process is smooth. We are always happy to refer you to our favorite tradespeople, services, and providers to make your life a little easier. As you’re getting settled into your new home, be aware of the possible situations you may encounter in the future. Rebuild Your Savings Take the time to review your finances after your home purchase. Remember to set up an electronic payment with your mortgage lender, which will allow you to avoid penalties associated with late payments. Also, create a plan to rebuild your savings account. Now as a homeowner, it’s important to have a cash reserve for unanticipated maintenance and repairs. A general rule of thumb is to expect to pay 1-3 percent of the cost of your home per year on maintenance. Refinancing Yes, you may have just finished up the buying process, but never take your eye off interest rates. If rates go down, you may be able to save money by refinancing which means you’ll take out a new mortgage on your home with a lower interest rate. Often many lenders offer no-cost refinancing, or taking the costs and fees associated with refinancing and put them into the interest rate. You’ll lower your monthly payment with little or no money out of pocket. If at any time you have a question regarding your home or services, please don’t hesitate to contact your trusted CENTURY 21 Affiliated real estate agent. You continue to be a client even after the sale, and it is our goal to provide valuable help and information.

HOME FINDERS’ PROFILE Your goals, dreams, expectations, & objectives are at the center of CENTURY 21 Affiliated’s process. In order to set up the foundation for a successful transaction, let’s discuss the following topics so we can work together to achieve your goals.

Requirements for Your Home Purchase

Current Housing Information

Desired Areas:


Phone: Email Address: Approximate Value: Estimated Equity: Down Payment Available: Progress of Sale: Children:

Acceptable Styles:

New or Existing: Square Feet: Lot Size: Price Range:

Number of Bedrooms: Bedroom Requirements:

Employer (1): Phone: Address:

Number of Bathrooms: Bathroom Requirements:

Commute Time:

Employer (2): Phone: Address:

Other Requirements:

Commute Time:

© 2022 CENTURY 21 Affiliated. CENTURY 21 ® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Equal Housing Opportunity. Each office is independently owned and operated.

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