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GUIDE TO THE HOME BUYING PROCESS

WHO ARE WE?

Cristal Cellar was built on the notion that the secret to

achieving incredible goals and getting true results is to

dominate real estate with a team approach. One part-time

agent does not have the capacity to cover every aspect of the

real estate process.

We operate in a supportive, professional, positive environment

that helps each member of our team provide the highest level of

service in the industry. This atmosphere allows our team to act on

the passion and drive it takes to surpass the expectations of every

client who chooses us to help fulfill their home

buying or selling goals.

“...surpass the expectations of every client who chooses us...”

Whether you are looking to sell your property or buy a new

home,Cristal Cellar offers a dedicated, skilled team with an

innovative marketing approach.

Our team of experienced, full-time real estate agents and staff

are ready to lead and advise you through the process of buying

the perfect home or selling your existing home for the most

amount of money in the shortest amount of time.

VISION STATEMENT

Our vision is to grow out company by quality not quantity, and to revolutionize the industry

through creative synergy and become the premier standard for a holistic approach

in the residential real estate market.

CORE VALUES

  • Loyalty
  • Creativity
  • Grit

VALUE PROPOSITION

Our greatest value for clients is to empower them through knowledge by combining the

mortgage process seamlessly, with the sale or purchase of residential real estate.

MISSION STATEMENT

Our greatest value for clients is to empower them through knowledge by combining the

mortgage process seamlessly, with the sale or purchase of residential real estate.

HOME BUYING ROAD MAP

BUYER - Buyer Presentation-04

YOUR STRATEGY STARTS HERE

Variables involved in your 7-step home buying strategy

EXPERT ADVICE FOR SETTING YOUR STRATEGY

Market Intelligence

  • Economic indicators
  • Trends analysis
  • Interest rates
  • Loan programs and qualifications
  • Real estate cycles
  • Seasonal advantages
  • Local market conditions Micro
  • markets
  • National market conditions
  • Absorption analysis
  • Inventory of corporate-owned
  • homes
  • Inventory of short sales
  • Inventory of foreclosures

Smart Home Buying Strategy

  • Determine timing & motivation
  • Evaluate needs & wants
  • Out-of-pocket expenses
  • Financing needs & pre-approval
  • Neighborhood & lifestyle
  • Quality of life
  • Set expectations
  • according to market
  • Customized plan
  • Inventory of vacant homes
  • Rental housing vacancy rates
  • Builder confidence
  • Shadow inventory
  • Inventory fluctuation
  • Rent vs. buy trends
  • Market stability
  • Knowledge of co-op agents
  • negotiation strategy
  • Knowledge of mortgage options
  • Knowledge of insider deals
  • Knowledge of appreciation rates
  • Knowledge of inventory

FUNDING YOUR DREAM

Trusted Lenders

  • Best rate & terms
  • Close on time
  • No surprises
  • Over deliver vs. Over promise
  • Get documents on time to the closing attorney

Decisions on Cost

  • 15-year vs. 30-year mortgage
  • Long-term hold
  • Short-term hold
  • Buy first or sell first
  • Rental property
  • 13th payment

Your Home as an Investment

  • Mistakes that cause you to overpay
    for your home
  • Mistakes that cause you to overpay
    for your loan
  • How to accelerate your equity
    and build wealth with
    your home purchase
  • Why choosing the right lender makes all the difference
  • Equity buyer vs. emotional buyer

MORTGAGE PRE-APPROVAL

How Much Can You Afford? Key Factors to Consider

  • The down payment
  • The interest rate
  • Credit score
  • Your debt-to-income ratio
  • The closing costs associated with the transaction
Down Payment Requirements for Home Loans

Closing Costs

You will be required to pay fees for loan processing and other closing costs. These fees must be paid in full at the closing, unless you are able to include them in your financing. Typically, total closing costs will range between 4–5% of your mortgage amount. In today’s market, it is common
to ask for the seller to pay around 2% of the mortgage amount toward your closing costs; this is called “Seller Paid Closing Costs.”

Closing Costs and other required fees

SELECTING YOUR HOME

Showings

  • Select homes of interest
  • View your favorites
  • Proactively suggest listings that match
    your needs
  • On call “concierge” Showing Specialist

Right Price — Right Home

  • Property type (condo, townhouse,
    single family, manufactured, multiunit,
    investment)
  • Preferred sub divisions
  • Price range
  • Year built (age of home)
  • Bedroom/bathroom/garage needs
  • Square footage
  • Landscape/lot preference
  • Floor plan
  • Amenities
  • ADA disability features
  • Appliances

Lifestyle and Neighborhood

  • School rankings
  • Crime level
  • Demographics
  • Planned community
  • Parks & playgrounds
  • Privacy of neighborhood/gated
    community
  • Location of home in neighborhood
  • Proximity to: work, restaurants,
    recreation, public transportation,
    major roads, entertainment, etc.

Managing Risk

  • Foreclosures/bank owned homes
  • Short Sales
  • Vacant homes
  • City inspections

TYPES OF HOME SALE TRANSACTIONS

Traditional Sale (30-60 Days)
These are homes that have a regular seller on the other side of the transaction. They are not “upside down” on their mortgage, meaning they don’t owe more on the home than the home is worth. However, if they do, they
have the cash to bring to the table to sell without negotiating with the bank. The response time on your offer from a traditional seller is usually pretty prompt (generally within 24 hours, if not less). The traditional homes
are going to reflect the “market value” for a neighborhood and will usually be the highest priced home sales in the market and they are usually going to be in the best condition of any homes on the market.

New Construction (Varies, typically 4–6 months unless already completed)
Brand new homes, built to your tastes and warrantied. With new construction, you get exactly what you want. New construction homes can be already built, in the process of being completed or entirely custom.

Bank Owned Sale (30-60 Days)
A bank owned sale is one in which the bank owns the home. Usually the bank will own the home because the seller tried to do a short sale and the bank wouldn’t agree to it, or the seller just decided to let the home go back
to the bank by not making their payments. The bank owned transaction is a two party transaction, 1. Buyer 2. Bank. The listing agent is the go-between with the bank and they really help the bank’s asset manager (the
decision maker at the bank) make the decisions about the property and about the pricing of the home. Bank owned sales are almost always “As Is” sales. Bank owned purchases are usually priced well below the price of a
comparably sized “Traditional Sale”, but they may be in poor condition and will most likely need some sort of work or cleaning done.

FSBO (30-60 DAYS)
This is the sale of a home directly by the owner rather than having representation by a real estate professional. One of the most popular reasons that owner choose to sell their homes without the help of a real estate agent, is to avoid paying an agent’s commission. If the owner sells their home to a person that is also not represented by an agent, the owner pays no commission. If the buyer is represented by a real estate agent, that agent may request that the owner pay them a commission (typically 3%) for bringing the buyer to them. The owner can agree to pay or refuse. The seller is not legally obligated to pay the commission. Often times, if the owner refuses, the buyer will compensate their agent on their own. FSBO homeowners will often market their own properties or choose to employ the services of an online marketing company or listing service.

Short Sale (4+ Months)
A short sale is a home that is selling for less than the mortgage balance that is owed. This is where the term “short sale” comes from, the home is selling “short” of what is owed. The seller is usually selling the home because they can’t make their payments any longer. The short sale is a three party transaction. There is 1. Seller 2. Buyer and 3. Bank (or banks) involved in the sale. The process is like a traditional sale in that the seller hires a real estate agent to market the home and get an offer, but once the seller and the buyer agree to a price, the bank then has to make the final decision on if the price is acceptable and if they will release the seller from the obligation of the debt they owe. The bank has to collect all of the seller’s financial records and review the offer and send out a third party to value the property. From there the bank will make a decision on whether or not they will accept the offer, counter the offer, or reject the offer. Short sales can be great deals, but the waiting time involved can be extreme and very hard on a buyer wanting to purchase quickly

NEGOTIATING YOUR TERMS

Position of Strength

  • Pre-approval in hand
  • Type of financing
  • Negotiating with listing agent
  • Comparable sales o support offer
  • Seller’s purchase price per tax records
  • Property tax assessment review
  • Walk away leverage

Multiple Offer Strategy

  • “Dear Seller” letter
  • Zero repair allowance
  • Increased earnest money
  • Escalation Language
  • Closing date

Seller Concessions and Offer Details

  • Seller contribution to buyer’s
    closing costs
  • Home warranty
  • Inspection repair costs
  • Closing date
  • Discount/buy-down points
  • Ancillary closing costs
  • Title policy
  • 60 days no payments
  • Contract acceptance
  • Time line
  • Property inspection time line
  • Negotiate repairs

MAKING AN OFFER

Once we’ve found the home you wish to purchase, you’ll need to determine what offer you are willing to make on the home. After all, you are the one making the payments!

Offer Terms

  • Sales price
  • Comparative market analysis (comps)
  • Earnest money
  • Financing terms
  • Inspection period
  • Closing date
  • Personal property
  • Other applicable addendum like Common Interest Community Disclosures, Short Sale Contingencies, etc.
  • Seller contribution to YOUR closing costs
    (if requested)
OFFER TERMS

A Note about Multiple Offers

It is important to remember that the more competition there is for the home, the higher the offer will have to be, sometimes even exceeding the asking price. Remember, be realistic, but it all comes down to market value and solid comparable sales. Make offers you want the other party to sign!

PROTECTING YOUR HOME

Home Inspection

  • Eliminate potential surprises
  • Preemptive negotiation strategy
  • Identify potential “deal killers”
  • Walk-away leverage

Lifestyle and Amenities

  • Drive time
  • Location of hospitals, restaurants,
    schools, gyms

Home Warranty

  • Cover the mechanical systems and
    major appliances
    in the home for a year
  • Can save buyers thousands of dollars
  • Can be paid for by the seller
  • Can renew after the first year is up

Future Home Maintenance Costs

  • Heating and cooling costs
  • Age of appliances
  • Utility costs
  • Home owners association dues
  • Lawn and landscape maintenance

INSPECTIONS

Home Inspections


If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection. Our Inspector is exceedingly thorough and detailed so as to minimize surprises for you. However, the inspection is not meant to be used to low ball the seller post-price negotiations, as all existing homes have minor imperfections.

The inspection is intended to report on major damage or serious problems that require repair. Your home cannot “pass or fail” an inspection. The inspector’s job is to make you aware of repairs that are recommended or necessary.

THE INSPECTION WILL INCLUDE THE FOLLOWING

  • Appliances
  • Plumbing
  • Electrical
  • Heating and Air conditioning
  • (depending upon the season)
  • Roof and Attic (if accessible)
  • Foundation
  • General Structure
  • Radon tests are recommended — More than
  • 40% of the homes tested have gas levels
  • exceeding the safe threshold set by the EPA
  • Thermal imaging can reveal issues unseen in a standard visual home inspection.

COMMON PRICES

for the home inspector

1500 sq ft and less  .  . . .$350

1500–2000 . . . . . . . . . . . .$450

2000–2500 . . . . . . . . . . . .$500

2500–3000 . .. . . . . . . . . . $550

3000+ . . . .. . .(Call for pricing)

Radon Testing  .. . . . . . . $150

Pest Inspections . . . . . . . .$95

Thermal Imaging

with inspection . . . . . . . .FREE

(Must request)

without inspection  . . . . . $15

The seller may be willing to negotiate completion of repairs, or you may decide that the home will take too much work and money and rescind the offer during the inspection period.

Your inspection is a contingency to the purchase agreement and needs to be completed and repairs negotiated within the due diligence date on the purchase agreement; usually a 9–10 day period.

WARRANTIES

Previously-Owned Home Warranties
When you purchase an existing home, you can purchase warranties that will protect you against most ordinary flaws and breakdowns in major mechanicals and appliances for at least the first year you own the home. The warranty may be offered by or negotiated with the seller, or can be purchased by you, the buyer.


New Home Warranties
When you purchase a newly-built home, the builder usually offers a warranty on things such as the quality of design, materials, and workmanship.

CLOSING ON YOUR HOME

Home Owner’s Insurance

  • Highly competitive rates
  • Impacts your monthly payment

Title Company/Closing Attorney

  • Quality management of process
  • Manage all parties in transaction
  • Leverage for getting problems resolved
  • Closing on time
  • Protecting your interests
  • Transferring ownership of property to you

The Final Details

  • All documents to lender in
  • timely manner
  • Appraisal
  • Lender repairs where applicable
  • Closing & settlement review
  • Potential deal killers
  • Transfer of utilities
  • Moving into your new home

WHAT TO EXPECT AT CLOSING

Who Will Be There?

  • You, the buyer(s)
    Seller(s)
  • Buyer’s Agent
  • Listing Agent
  • Closing attorney, the party representing the title company
    and responsible for ensuring the title is transferred to you

What Will You Need?

  • Bring valid government-issued photo ID and a second form of
    ID showing your name.
  • Bring a cashier’s check for your cash to close (your mortgage officer will tell you the amount prior to closing)

What Is Expected from You at the Closing?
If financing the property, your lender will require you to sign a document, called a promissory note, as evidence that you are personally responsible for repaying the loan. You will also sign all title and deed documents putting you as the official homeowner!

YOUR LIFETIME RESOURCE

On-Going Real Estate Support

  • Post closing questions
  • Updated market information
  • Helping your friends and family

Trusted Contractors

  • Handymen
  • Cleaning companies
  • Carpet cleaning
  • Exterior maintenance
  • Painting & remodeling
  • Siding/Windows/Decks

Raving Fan Club

  • Parties
  • Holiday give-away
    (ex. Thanksgiving Pie &
    Valentine’s Day)
  • Helpful videos
  • Market snapshot
  • Coupons
  • Quarterly giveaways
  • Moving boxes

OUR TEAM

Cristal Cellar Team is dedicated un assisting you through selling, buying, or taking up a loan for your new house.

FUTURE OUTLOOK

Cristal Cellar's Future Outlook

SERVICES

Real Estate

  • Listing and marketing properties to obtain the highest and best offer for seller.
  • Research, locate properties and  negotiate terms on
    behalf of the buyer.
  • Provide clients real estate opportunities with a ROI against inflation.
  • Preserve the value of the property while generating income by securing Tenants, negotiating lease
    contracts, collecting rent, and maintain property.
  • Negotiate on behalf of seller with lender for a Short Sale Approval in addition to marketing the home to obtain the highest and best offer for seller.
  • Negotiate on behalf of Buyer with lender for best terms for Buyer.
  • Facilitate in locating lease properties for prospective Tenants in addition to locating qualified Tenants for
    landlords.

Mortgage

  • A government backed loan program that allows clients to obtain a loan with a lower down payment.
  • A loan designed only for military veterans to allow them to obtain home financing with the option of no
    down payment.
  • Provide clients with Traditional 30, 20, 15, 10 year fixed rate loans.
  • Allows people with FHA loans to refinance at a lower rate with less paperwork and simplified requirements.
  • Refinance for a lower payment without having to pay for closing costs.
  • Tap into your home equity and use as a form of retirement income.
  • Pull cash out from the equity in the home.
  • Investment loans for investors or unconventional
    loan programs for clients who do not qualify for conventional loans or government backed loans.

OUR RECORD

Real Estate

Total Sales Over Past 4 years

$124,984,494

2016
Total Gross Sales: $14,829,955

2017
Total Gross Sales: $28,202,716

2018
Total Gross Sales: $34,194,484

2019
Total Gross Sales: $47,757,339

Mortgage

Total Loans Funded Over Past 4 years

$74,686,247


2016
Total Loan Amount Funded: $8,916,395


2017
Total Loan Amount Funded: $24,849,284


2018
Total Loan Amount Funded: $12,993,973


2019
Total Loan Amount Funded: $27,926,595

THIRD PARTY REFERENCES

Chris Barredo – State Farm Insurance Agent

State Farm Chris Barredo

[email protected]

714.739.2460

Stephen Ensberg – Attorney at Law
Law Offices of Stephen E. Ensberg
[email protected]
626.813.3744

Pratik Shah – Attorney at Law
Shah Law PC
[email protected]
213.761.5529

Justin Tarroza – Tax Preparer
JJT Firm, LLC
[email protected]
818.635.1080

WHAT OUR CLIENTS ARE SAYING

“Exceptional service, I have worked with a couple different real estate agents in the past and although the realtors seem interested and engages in helping me find a home in the first week, their enthusiasm quickly
tapers off and they become lazy and unresponsive. JP has consistently worked with me week in and week out to make sure that I was finally able to find the home of my dreams. Whether it was sending me new
listings ever week that fit my needs to patiently showing me through multiple homes, JP truly cared about finding me the right home. I’m proud to say I finally the home of my dreams and it was due to Cristal Cellar’s consistent effort and genuine care.”

Justin P.

 

“As a first time home-buyer with Cristal Cellar, the services were exceptional. With a friendly and entertaining staff, their honesty and intuition have been extremely helpful. Notably, John Paul welcomed my ideas and understood my concerns.”

Chris B.

Cristal Cellar Yelp Reviews