Copeland Group Buyer Packet

HOME BUYERS GUIDE

GROUP REALTY

COPELAND

Office 512.697.9140
Hotline 888.346.6389
CopelandGroupRealty.com

THE COPELAND GROUP

The Win/Win benefits of a Team
We found that using a team of specialists is the best way to help clients quickly reach their goals. Proper pricing, marketing, communication,
feedback, follow-up, contract negotiations, etc. are key areas that can create a great experience. Our team concept is a win/win solution
because you will have 8-10 professionals focused on your goals...all for the price of ONE AGENT! Our clients love our level of personal
service since each member is accountable for their area of specialty.

Now...Meet the Copeland Group!

Yvonne Yeska
New Construction and Second Home Specialist
Yvonne is a team affiliate who works at Keller Williams. Like others on
our team, she has investment experience. Yvonne partners with us on
buyers in her areas of expertise, which include Lake Areas and Dripping
Springs. She plans to continue buying real estate investments properties
in Greater Austin.

Skye Hawk
Dee Copeland
Communications Manager, Certified REPA®
Principal/Listing Specialist
Skye helps us obtain complete satisfaction from our clients, affiliates and
Dee helps home owners, builders and investors to sell their
partners. She is extremely organized and enjoys the ability to work with people
properties at the highest price possible, with the least hassle, from diverse backgrounds. Skye obtained her REPA® Certification (Real Estate
and in the shortest time. Her mission is to negotiate and Professional Assistant) from the National Association of REALTORS® and has
structure win-win deals that will create a positive experience specialized expertise in helping real estate professionals manage their business
while strengthening relationships. She manages vendor partnerships as well as
for our clients and others. Dee is author of the forthcoming
team communications.
book, “Gotcha Guide™ to Buying or Investing in Real Estate:
Top Money and Time-Wasting Headaches to Avoid When
Debbie Richardson
You Buy a Home or Real Estate Investment” and has been
Transaction Manager
a featured nationally for articles on topics such as industry Debbie manages our listing and closings to keep the process as seamless as
trends, real estate investing, technology, new media, and possible. She maintaints detailed checklists and provides reports that keep
mobile applications. National spotlights include Inman our sellers, investors, buyers and builders informed and on schedule while
minimizing potential slowdowns.
News, REALTOR.com and Realtown.

Team Support

BookKeeping &
International Graphic Design Administrative Phone Systems
Paula Bayer
Accounting
Brokerage Firm And Printing Support & Receptionists
Pop-Decor Home
Staging

Copeland Group Keller Williams Realty
▪ ▪ ▪
1801 South Mopac, Ste. 100 Austin, Tx 78759 www.CopelandGroupRealty.com info@CopelandGroupRealty.com

Our Mission
Copeland Group
512.697.9104
OUR TEAM MISSION, VISION, VALUES AND BELIEFS
Copeland Group Realty are not just transactional agents who view client relationships as a way
to increase our bottom line. Although we strive to achieve financial goals for ourselves and our
clients, we see each relationship that we form as unique and special. Copeland Group Realty
members are driven to be role models in the real estate industry. We are proof that real estate
practitioners are honest, ethical, reliable and of high-value.

Below are our team’s mission, vision, values and beliefs.
MISSION: To provide personal, professional service and counseling while building life-long
relationships based on our passion and commitment to the community, each other and our
clients.

VISION: To be healthy, happy industry leaders who proactively impact our lives and the lives
of others in a positive way each day.

VALUES: Trust, Honesty, and Expertise (THE).

PHILOSOPHY: We will never assume that we have reached the top.

BELIEFS: We are experts at what we do. We learn from the best while teaching best practices.
We are leaders and problem solvers. We will let nothing stand in our way as we achieve our
goals. We break down barriers for others and ourselves. We treat the world as members of our
family.
OUR MISSION

▪ ▪ ▪ info@CopelandGroupRealty.com
1801 South Mopac, Ste. 100 Austin, Tx 78759 www.CopelandGroupRealty.com

How we work on your behalf
Copeland Group
512.697.9104
This checklist focuses our discussion on what you should know to optimize your homebuying
experience. If you have any questions not covered here, please ask me.
Your representation choices – how to protect your best interests – what you and I can reveal
and what is protected
Buyer representation agreement – mutual loyalty – how we will represent you
Getting qualified – your first step in the homebuying process – we can help you choose a
lender
Calling other brokers – let me do the legwork
New home sales –we work with builders – registration process at first contact
Unrepresented Sellers how we can help you buy a home listed without an agent and still
represent you
Viewing property – interaction with the seller
Efficiency tips – driving neighborhoods first, prioritizing
Earnest money – how much, when deposited, how applied
Option fee – buying the right to terminate for any reason – your safety net – option period
Seller’s disclosure – disclosure up front so you buy with full knowledge
Property inspection – what you are really looking for – structural and major system defects
Writing a contract – buying right, crafting a good offer
Negotiating – offer, counteroffer – best terms and price
Contract-to-close – orchestrating all of the players
Your referral business – earning your trust and confidence


BUYING WITH THE COPELAND GROUP

Your Exclusive Buyer’s Agent
There are three different ways in which you can be represented during the purchase of a new home, and none of them cost you, the
buyer, any money. Then why do people often times choose the worst form of representation? Usually it is due to a lack of education
about the home buying process. Our goal is to be your Exclusive Buyer’s Agent and assist you in making well educated and informed
decisions throughout the home buying process.

You can be represented in a real estate transaction in the following ways:

SELLER AGENCY (SINGLE AGENCY)
Buyer
• Agent will represent the best interests of the seller
• Agent will owe the seller fiduciary duties
• Agent must give the buyer all material facts so that the buyer can make
an educated decision
Seller

BUYER AGENCY (SINGLE AGENCY)
Seller
• Agent will represent the best interests of the buyer
• Agent will owe the buyer fiduciary duties
• Agent must give the seller all material facts so that the seller can make
an educated decision
Buyer

TRANSACTION BROKER (DUAL AGENCY)
• Agent represents both the buyer and the seller equally
• Agent’s objective is to get a mutually satisfactory agreement among all parties
Buyer
Seller • Agent gives all options to the buyer and the seller
• Depending on the local market, all parties may be present at contract
presentation to negotiate on their own behalf
• All parties have confidentiality. Agent may do nothing to the detri ment of
either the buyer or the seller
• Both the buyer and the seller have a right to counsel. Before making
any decisions, both parties have the right to seek family, religious, legal, or
financial counsel.

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What We Can Help You Buy
Our Exclusive Buyer’s Agents will evaluate your home buying needs in our first meeting with
you and will then be better prepared to assist you in your home buying search. We are highly
skilled in locating the ideal home for you whether it’s an existing home, investment, or a new
builder construction! In all three transactions our commission fees are pre-negotiated so that
the seller is responsible for them, not the buyer.
EXISTING HOMES
Once we know what your wants and needs are based on our initial consultation, we spend
a day previewing properties that meet your criteria. We show you homes listed by any
brokerage firm in the Austin area and we are able to narrow a list of hundreds of properties
because of factors such as neighborhood or home features.
We preview the properties first because we are able to look at several homes in the time it
would take both of us to view just a couple. Other agents may make you spend your valuable
time driving by homes and then telling them which homes you wish to see. Instead we
narrow the list and show you only the most well kept homes, in the best areas, at the best
value. That is unless you are looking for a fixer-upper, then we will adjust our criteria for
narrowing the search! The bottom line is to save you ti me and money!
UNREPRESENTED SELLERS
We often work with homeowners that wish to sell their home themselves. In fact, many of the
listings that our team takes are from people who have tried unsuccessfully to sell their homes
themselves. We maintain awareness of all unrepresented seller properties that are listed in
the Austin area and will be happy to arrange a showing for you. In this transaction, you will
continue to be represented by us with our buyer’s representation agreement. Unfortunately
for the seller, as they complete the transaction with no professional representation.
NEW BUILDER CONSTRUCTION
Many home buyers and investors are not aware that the representatives at new construction
sales centers work for the builder, and do not represent the buyer’s best interests. Our team
has extensive knowledge of area builder reputations, floor plans and lots as well as schools,
neighborhoods, amenities and accessibility. As your Exclusive Buyer’s Agent, we will negotiate
the purchase price on your behalf with the builder and assist you in selecting.

BEFORE WE GET STARTED
The single most important thing for you to do before beginning your new home search is to
select and meet with a mortgage lender. You can find a list of recommended lenders in the
vendor list at the back of this guide. It is important to do this before we begin our search for
several reasons:
1. It allows you to determine how much your monthly payment will be.
2. It helps us to determine what price range we should stay within.
3. It gives you an estimate of how much money you will need to have for down payment and
closing costs.
4. Most importantly, it helps us to negotiate from a stronger position.

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HOME PROCESS BUYING CHART

Start Phase One Start Phase Two

Order Mortgage Send Loan to
Initial Consultation
Appraisal Company Underwriting
Info. About Brokerage Services
Buyer’s Representation Agreement
Buyers Packet

Loan Approval

Application for Loan
Credit Report
Pre-Approval
Title
Order
Title Search
Company
Survey

Buyer’s Agent Previews Properties

Buyer to Arrange for
Transfer of Utilities
View Active Listings

Mortgage Company Delivers
Make Offer on Negotiate Final Loan Documents to Title
Property Terms of Offer Company

Final Contact The Company Prepares
HUD 1 Statement

Buyer to Arrange for
Homeowners Insurance
Buyer Brings Cashiers
Check to Closing

Option Period
Home Inspection
7- 10 Days

Home Ownership
Negotiate
Amendment
Repairs

Option Period Expires

Proceed to Phase Two

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Seven Tips for Homebuyers:
Copeland Group
512.697.9104
How to Save Thousands When Buying a Home
A real estate transaction can be complicated. I recommend the following best
practices to my buyers who want to buy. right.
1. Arrange for your mortgage financing up front before you even start
to look for a home. The lender will focus on your ideal price range, your
maximum loan, and whether there are any credit issues you should correct
before buying. The lender will also prepare a qualification letter, which you
must provide the seller when you make an offer.
2. Review a blank contract form before you write your contract offer. This will
familiarize you with contract details and may prompt questions. Ask your
agent to explain the process of negotiating and counteroffers.
3. Use buyer representation. It is important to have an agent who owes his
total loyalty to you. Discuss your representation options with your agent. If
you are purchasing one of your agent’s company listings, make sure you
understand what your agent can and cannot do for you.
4. Review the seller’s disclosure before you make an offer. Your contract
offer should reflect the condition of the property. The seller could disclose
a repair or condition that would affect what you would be willing to pay. You
should know this before you decide on an offering price.
5. Ask for a residential service contract when you write the offer. This will
cover you for some items that malfunction during the first year of ownership.
Cash used for downpayment, closing costs, and other home necessities
can deplete your cash reserves. A residential service contract will reduce
the risk of a future drain if a warranted item needs repair that first year.
6. Get the property inspected by a licensed professional inspector. This
will let you know the true condition of what you are buying. Follow the
inspector’s advice if he recommends that you have another expert inspect
a troublesome item. Ask your inspector to explain how to work or maintain
appliances or systems in the home with which you are unfamiliar.
7. Ask your agent to prepare a market analysis of the property before you
make the offer. You should know what similar properties are selling for so
that you don’t overbuy. Also, if the seller remains firm on his price, you will
FINANCING TIPS

be able to tell if the value is really there.


HOW TO BE READY TO BUY

So You’re Ready to Buy a New Home Monthly payment schedule
based on 8% APR Interest for a
30 year mortgage.*
Whether this is your first home purchase or one in a line of several over the past
years, we would like to provide you with some basic information upfront to
Loan Amount Monthly Payment
prepare you for your search. We hesitate to begin this with information about
$100,000 $ 733
what it will cost to buy your new home, but after all, money is the bottom line.
$110,000 $ 807
We are certain you would like to be informed of what costs you will incur.
$120,000 $ 880
Four Checks Prior to Closing: $130,000 $ 953
$140,000 $1,027
You will need to write four checks prior to closing on your new home. All costs
$150,000 $1,100
are average and will vary with the price, size and features of your new home.
$160,000 $1,174
1. Option Fee ($100-$500). Payable to seller at the receipt of the contract and is
credited toward your closing costs. $170,000 $1,247
2. Earnest Money (1% of the sales price of the home): Payable to the title com- $180,000 $1,320
pany at signing of offer. This will be credited toward your closing costs.
$190,000 $1,394
3. Inspection ($300-$500): Payable to the inspector at time of the inspection
$200,000 $1,467
during the option period.
$210,000 $1,540
4. Credit Check and Appraisal ($400): Payable to the Lender after the option
$220,000 $1,614
period expires.
$230,000 $1,687
$240,000 $1,761
Your Monthly Payment -- PITI
$250,000 $1,834
The monthly payment on your new home will include the principle and interest
$260,000 $1,907
on the loan you take out with your mortgage company. In addition, you will be
$270,000 $1,981
responsible for paying yearly property taxes and homeowners insurance. If you
$280,000 $2,054
choose, you can have your taxes and insurance added to your monthly payment
$290,000 $2,127
(some loans require this), or you can pay them on an annual basis. To the left is
$300,000 $2,201
a table that will give you an idea of the monthly payment you can expect includ-
$310,000 $2,274
ing your loan principle and interest (P & I) based on a 30 year mortgage at 8%
APR interest rate. Taxes and insurance will vary greatly depending on the area in $320,000 $2,348
which you live and the features of your home. $330,000 $2,421
Generally, on a $100,000 to $200,000 home, your taxes will range from $2,000
$340,000 $2,494
to $4,000 annually and your homeowners insurance will range from $300 to
$350,000 $2,568
$800 annually.
$360,000 $2,641
Once you have found the home you wish to purchase your lender can
$370,000 $2,714
complete a Good Faith Estimate for you that will better predict your closing
$380,000 $2,788
costs and estimated monthly payment.
$390,000 $2,861
$400,000 $2,935

* Monthly payments listed
are principle and interest only.
Taxes and insurance are
additional.

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HOME BUYING PROCESS: PHASE I

Home Buying Process
There are several steps that we go through together while finding and purchasing your home. For many of these we sim-
ply tell you that the task has been completed for you, however, others may require some work from you. We inform you
about every aspect of the transaction and remind you when there are tasks that you should be working on to complete.
On the previous page is a chart that shows the flow of these tasks so you can better understand the home buying process.
Task: Secure Financing
TimeFrame: Before We Begin Looking
The first step in buying a home is to obtain loan pre-approval. This provides you with the information you need to deter-
mine how much home you can afford and what type of monthly payment you are comfortable with. In addition, many
sellers do not consider offers from buyers that are not pre-approved. We work with several lenders that have proven to
offer exceptional customer service and competitive interest rates. A list of recommended lenders can be found in the
vendor list at the back of this guide. You may use one of these, or choose one of your own.
Three elements are crucial to the purchase of a home: the down payment, closing costs and qualifying for a mortgage.
Here is a quick rundown of what you should know:
Down Payment
Conventional lenders will typically require a 20% down payment, although you may be able to find loans with no down
payments. With down payments less than 20%, you will likely have to pay private mortgage insurance which guarantees
the lender will be repaid in case of default.
Mortgages insured by the Federal Housing Administration (FHA) and those available to U.S. veterans often require very
low down payments. Ask your lender if you can qualify for one of these loans.
If you have trouble coming up with the down payment, there are some tips to ease the burden:
• Start early. Begin saving for a down payment as soon as possible. After a few years it adds up.
• Ask for a Flex 97 mortgage, underwritten by Fannie Mae. It only requires 3% down provided that you have good
credit. Also, you may be able
to borrow that 3% on credit cards.
• Convert stocks. Consider selling stock for the down payment. The housing market is often a better investment anyway.
• Sell an asset. If you have “toys” such as a boat, extra car or other asset, consider selling it for the down payment.
• Borrow from relatives. Today lenders will allow you to use money from relatives as the down payment if it is provided
as a gift.
Check with your lender for restrictions.
Closing Costs
No matter what home you buy, there will be closing costs. These can include: discount points, title insurance, escrow
fees, attorney fees, a termite report, recording fees, appraisal fees, document preparation fees, notary fees and loan under-
writing fees. Usually, these are due in cash, but sometimes they can be folded into the mortgage.
Loan Qualification
Primarily, your income plus the interest rate secured, determine the size of the mortgage you qualify for. The higher
the interest rate, the higher the monthly payment. The higher the monthly payment, the more income you need to
qualify for the mortgage. For conventional financing, lenders generally limit the monthly payment to 28% of your gross
monthly income. Exceptions can be made depending on individual circumstances. The amount of debt you currently
have may also factor in the decision.
Contacting a lender before you make an offer on a house may be a good idea. This head start gives you a chance to
resolve any problems that may arise without the pressure of contract deadlines. You can also get pre-approved for a loan
which puts you in a strong position if you make an offer on a house that receives offers from other buyers.

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How to Choose the Right Lender
Copeland Group
512.697.9104
Homebuyers have many options when selecting their mortgage lender. The
lowest price or best terms are not the only considerations. The key ingredients
are interest rate, terms, AND service. Use the following tips to guide
your selection:
1. Get the rate and terms in writing. It is easy to quote a good rate to
capture your loan. If you don’t get it in writing, the quote could change.
This is particularly true of lenders found over the Internet. If the lender
cannot give you the quote in writing, steer clear.
2. Share your main mortgage goals with the lender, who should then offer
suggestions on mortgages that will accomplish your goals. If the lender
does not offer counseling, their service is below par.
3. Predict lender accessibility during loan processing. Ask how the loan
will be processed and who will be available to answer your questions.
Ask for a direct line. If the lender resists, you and your agent may have
difficulty reaching them when you need them.
4. Verify lender accessibility. Get a call back number and make a call to
see if and how long it takes for the lender to get back to you. If they are
hard to reach now, it may be even harder once they have your business.
5. Ask about his processing support. If the lender does their own
processing along with taking loan applications and prospecting for new
business, they may be too busy to take care of your loan.
6. Confirm processing time. If the lender cannot promise a date, then you
may not be able to conform to your contract.
Ask your agent for lenders they have worked with who give competitive rates
and terms AND great service.
CHOOSING A LENDER


How to secure financing the smart way:
Copeland Group
512.697.9104
Three elements are crucial to the purchase of a home—the down payment,
closing costs, and qualifying for a mortgage. Here is a quick rundown of what
you should know:
Down payment
Typically, conventional lenders will require a 20% down payment, although
you may be able to find loans with down payments of as little as 5% (perhaps
less in some cases). With down payments less than 20%, you likely will have
to pay private mortgage insurance, which guarantees the lender will be repaid
in case of default. Mortgages insured by the Federal Housing Administration (FHA) and those
available to U.S. veterans often require very low down payments. Ask your lender if you can
qualify for one of these loans..
If you are having trouble coming up with the down payment, here are some
tips to ease the burden:
• Consider down payment assistance programs. Buyers can get up to 6%
of a home’s purchase price—that they do no have to repay—through a
down payment assistance program called Texas Cares. For more
information, visit TexasCaresProgram.org.
• Start early. Begin saving for a down payment as soon as possible. After a
few years, it adds up.
• Ask for a Flex 97 mortgage. Underwritten by Fannie Mae, it only requires
3% down, provided you have good credit. And, you may be able to borrow
that 3% on credit cards.
• Convert stocks. Consider selling stock for the down payment. The housing
market often is a better investment anyway.
• Sell an asset. If you have “toys” such as a boat, extra car, or other asset,
consider selling it for the down payment.
• Borrow from relatives. Today lenders will allow you to use money borrowed
from relatives as the down payment. In many cases the relatives do not
need to co-sign the mortgage. Check with your lender for restrictions.
Closing costs
No matter what home you buy, there will be closing costs. These can include:
discount points, title insurance, escrow fees, attorney fees, termite report,
recording fees, appraisal fees, document preparation fees, notary fees, and a
loan underwriting fee. Usually these are due in cash, but sometimes they can
be folded into the mortgage.
FINANCING TIPS

Loan qualification
The size of the mortgage you qualify for is based mainly on the interest rate
offered and your income. The higher the interest rate, the higher the monthly
payment. And, the higher the monthly payment, the more income you will need
to qualify for the mortgage. Contacting a lender before you’re actually ready to make an offer
on a house can be a good idea. This head start gives you a chance to work out any
problems that may arise without the pressure of contract deadlines.


IDENTIFYING THE HOME YOU WANT

N Home Price Type of Exterior Location Convenience
ow that you have a general
idea of what you are financially $50,000 or under Brick Arts/Culture ______________
capable of purchasing, this checklist $50,000 - $75,000 Stone Nightlife __________________
will help you narrow the price and $75,000 - $100,000 Wood Sport/Recreation Areas ____
features you’re looking for in a new $100,000 - $150,000 Stucco
Type of Financing
home. First, prioritize the items you $150,000 - $200,000 Vinyl Siding
Conventional
absolutely require. Next, choose $200,000 - $250,000 Aluminum Siding
Adjustable
additional features you might like to $250,000 - $300,000
Major Features FHA Mortgage
have. If you’re having trouble getting $300,000 - $350,000
Number of Baths VA Mortgage
started, try making a list of what $350,000 - $400,000
Number of Bedrooms Owner Finance
you DON’T want. If a co-owner is $400,000 - $500,000
Garage spaces Assumable Mortgage
involved, have that person make a $500,000 - $600,000
No Garage
Moving Date
list too, but don’t share ideas just yet. $600,000 - $700,000
Family Room
After you’ve completed this checklist $700,000 - $800,000 Near Future ______________
Formal Dining Room
alone, share it with your co-owner. If $ _________________ Not until (date) ___________
Eat-In Kitchen
your notes don’t match up, you’ll Other Questions to Consider
Type of Home Media Room
need to come to a compromise that What do we like about our
1 story Study
makes you both happy. Then you can current residence?__________
1.5 story Laundry Room
start checking out properties with ____________________________
2 story Indoor Storage
an agent. ____________________________
Garden Home Wet Bar
What do we dislike about our
Townhome Fireplace
current residence?__________
Condominium Hot Tub
____________________________
Pool
Style of Home ____________________________
Deck/Patio
Contemporary ____________________________
Large Yard
Colonial What DON’T we want in a
Small Yard
Traditional new
No Yard
Western Style home?_____________________
Landscaped
Southern Style ____________________________
Fenced
Victorian ____________________________
Outdoor storage
Mediterranean ____________________________
Area
Open floor plan
City/Urban _______________
Mother-in-Law Plan
Area/Neighborhood of City
Luxurious
__________________________
Fixer-Upper
Suburban ________________
Age of House Subdivision Name(s) ______
New Home __________________________
1 – 5 Years Rural _____________________
6 – 10 Years Proximity to City ___________
11 – 15 Years
Location Convenience
16 – 20 Years
Schools ___________________
21 – 30 Years
Workplace ________________
31 – 40 Years
Shopping/Dining __________
41 – 60 Years
Place of Worship __________
60+ Years
Park ______________________

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CENTRAL TEXAS MLS AREAS

A Multiple Listings Service (MLS) is an organization that collects, compiles and distributes information about homes listed for sale by it mem-
bers, who are real estate brokers. Membership isn’t open to the general public, although selected MLS data may be sold to real estate listings web
sites. MLS’s are local or regional, as no national MLS exists.

Knowledge of the Austin MLS areas may help you to choose the location you wish to settle in. It will also help you to communicate better with
your real estate agent and understand housing costs of in different parts of central Texas.

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HOME BUYING PROCESS: PHASE II
TASK: Inspection
TIMEFRAME: At Acceptance Of Offer
Upon acceptance of the offer, you will arrange for an inspection of the property. This needs to be completed
during the option period so that if something is discovered during the inspection (that you cannot live with and the
seller is not willing to fix), you may cancel the contract and only forfeit your Option Fee.
The enclosed vendor list provides a list of Texas Real Estate Commission (TREC) licensed inspectors. You will
need to arrange for the home inspection during your option period. The inspection will take two to four hours and
you will only need to be present for the last half-hour when the inspector reviews the findings with you.
All homes have a long list of minor repairs. However, we are mainly looking for major mechanical or structural de-
fects to the property. The cost of the inspection varies based on the size and features of the home and will range
from $300 to $500. This payment is due at the time of the inspection.

TASK: Prepare Amendment
TIMEFRAME: Immediately Following Inspection
After the Inspection, we will complete an Amendment to the Contract. This amendment will include any items
that were discovered during the inspection that you would like the Seller to repair for you. The Amendment will
then be negotiated between yourself and the seller, much like the Contract was. Once an agreement on repairs to
be completed has been reached, you will forfeit your right to the Option.

TASK: Obtain Homeowner’s Insurance
TIMEFRAME: During Option Period
In order to close on your new home, you need to arrange for Homeowner’s Hazard Insurance. You will need to
notify your lender of the insurance company you choose, a contact name and a phone number. The enclosed
vendor list provides names of insurance agents that our clients have used in the past and have been very satisfied
with. You may receive a discount by having your car insurance and homeowner’s insurance with the same company,
so check with your current insurance agent as well. We recommend that you obtain at least two estimates from dif-
ferent agents and then make a decision.

TASK: Transfer Utilities and Schedule Services
TIMEFRAME: Two Weeks Prior to Closing
You will need to transfer the utilities to your name before moving into your new home. In order to save money on
hook-up fees, call ahead and ask the utility companies to transfer the billing to your name upon cancellation by the
Seller. In the enclosed vendor list you will find most utility information for Austin and surrounding areas. If you
need further information, please don’t hesitate to call us, we are here to help you.

TASK: Funds Available in the Bank and Ensure Loan Quality
TIMEFRAME: 72 Hours Prior to Closing
Obtaining pre-approval for a home loan is just the first step in funding your loan at closing. Many times buyers
plan to use monies from stocks or 401k retirement plans as down payment on their new home. If you plan to liqui-
date stocks or 401k to supplement your down payment, the money from the sale of these funds must be available
in the form of cash in your bank account at least 72 hours prior to closing. Because a withdrawal from a 401k can
be a complicated and time-consuming process, we advise you to begin the withdrawal of these funds immediately.

On average, one out of five home mortgage loans goes through a quality control check. The lender does this to
ensure that the borrower’s financial status has had NO CHANGE since the approval of the loan was granted. No
matter how good your financial situation is, lenders strongly advise against changing your financial status from
the date of your loan approval. This includes, but is not limited to, applying for new credit, gaining new credit,
purchasing appliances, furniture, cars, changing jobs or quitting your job. An appropriate time to make any of
the above financial changes would be after the closing and funding of your new home. If you have any questions
about your purchase decisions while you are waiting to close on your new home, please consult your mortgage
lender for advice.

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Tips for Buying:
How much does that home really cost?
Copeland Group
512.697.9104
A $200,000 home costs more than a $185,000 home, right? Well, yes and
no. Assuming the same type of financing for both homes, the $200,000 home
does cost more initially. But many factors contribute to the overall long-term
cost of a house. Here are some things to keep in mind when trying to
determine the true cost of purchasing a particular home:
• Does it have a pool or hot tub that requires maintenance?
• How much yard maintenance is required and who will perform it?
• Are there trees that should be removed?
• What are the utility costs? Although your usage won’t be exactly the same
as the current owners, you may be able to get their utility bills for the past
year from them or directly from the utility company.
• How soon will the roof need to be replaced?
• Does the house need repainting?
• Does the electrical system need upgrading to handle the load for your
appliances and electronics?
• Does the home have aluminum wiring, lead-based paint, or other safety or
health hazards you will want to address?
• Does the house need new carpeting or flooring?
• What remodeling projects do you see as a must?
• Will appliances need replacing? What items convey?
• What are the estimated property taxes for the property?
Also, be sure to get a professional inspection to identify other potentially
costly problem areas.
HOME BUYER TIPS


About Home Inspections
Copeland Group
512.697.9104
Inspections are done as early as possible in the Option Period and should be
set up as soon as possible after the contract is fully executed. This will leave
time to renegotiate and amend the contract if major problems, not known at
the time the contract was written, are discovered during the inspection.
Initially, what you know about the property comes from what the seller has
disclosed and what you have observed. A more thorough look by a licensed
and/or knowledgeable inspector(s) can offer you peace of mind. The property
inspector’s job is to tell you about the property. The inspector should disclose
up front the scope of his inspection so you will know what he will and will not
inspect and how deep he will probe.

The purpose of the inspection is four-fold:
1. Educate you about ongoing maintenance issues
2. Familiarize you with the items that might need repair in the future
3. Instruct you about the operation of any equipment
4. Inform you of major problems that might not have been known
or readily apparent when you looked at the property. Major
undisclosed mechanical, structural, safety, and environmental
defects might become items for negotiation. (Cosmetic repairs and
maintenance are normal concerns of homeownership and normally
are not items for further negotiation.)

Inspectors will generally inspect the foundation and other structural items
such as walls and roof. They will look at mechanical systems such as heating,
air-conditioning, electrical, plumbing, doors, and windows and appliances.
Special inspections may be needed after the general inspector gives his report.
These could include separate septic, pool, and spa, security, sprinklers,
or structural inspections. Your inspector will suggest additional inspections by
experts if he has a concern beyond his expertise.
ABOUT INSPECTIONS


Tips for Buying
Homeowners insurance: 7 tips for Texans
Copeland Group
512.697.9104
Save on homeowners insurance
Here are seven ways to cut the cost of your home insurance from
helpinsure.com, a Texas consumer-friendly Internet site:
1. Shop around – and do it early!
Check with several different home insurance companies to get rate quotes.
(An independent insurance agent can provide rate quotes from a variety of
companies.) And definitely do it well before your policy expires, just in case
you run into any snags along the way.
2. Raise your deductible
The deductible is the amount of money you have to pay toward a loss before
your insurance kicks in. Home insurance deductibles usually start around
$250. However, if you increase your deductible to:
$500, you’ll save up to 12% on your premiums
$1,000? Save up to 24%
$2,500? Save up to 30%
$5,000? Save up to 37%
3. Buy your home and auto policies from the same company
Many companies will give what’s called a “multi-line” discount if you buy both
home insurance and auto coverage from them.
4. Don’t skimp when buying a home
If you’re looking at buying a home, think about the cost of insuring the home.
A newer home’s electrical, heating, and plumbing systems and overall
structure are likely to be in better condition than those of an older home – and
can lead to a discount on your premiums.
5. Insure your home, not the land
While your home and its contents are at risk from fire, theft, windstorms, and
other perils, the land your home sits on is not. Don’t include the value of the
land in deciding how much home insurance you need to buy.
6. Improve security and safety
Items such as dead-bolt locks, burglar alarms, and smoke detectors can
usually bring discounts of 5% each. Your insurance company may also offer a
significant discount of 15% or sometimes even 20% if you install a
sophisticated home-security system.
7. Check your policy annually
Your policy should reflect the value of your home and belongings. If you
INSURANCE TIPS

review your policy every year, you can easily make the necessary adjustments.
If, for example, you just sold a valuable painting, you won’t need the same
amount of personal property coverage. But if you’ve added a garage or other
addition, you’ll need to increase your dwelling coverage.


LET’S WORK TOGETHER

Our team flourishes when we work by referral. The greatest honor you can give us is the opportunity to work with your friends
and family. To ensure a smooth transaction and wonderful relationship, we must be on the same page from the start. Our goal at the
Copeland Group is exceed expectations before, during and even after we work together.

Please initial and return before signing a Buyer’s Representation Agreement or viewing properties:

Buyer Specialist Client
Information About Broker ____ I have given the client(s) the Information ____ ___I/We have read, signed and under-
Services Form About Broker Services form so they understand stand the Information About Brokers Services
the types of broker representation in Texas. form, which is a mandatory disclosure in Texas.
TEAM MVVB ____ I promise to uphold my team’s mission, ____ ___I/We have read and agree to uphold
vision, values and beliefs at all times. the mission, vision, values and beliefs of the
Copeland Group as they pertain to me/us.
VALUE #1: TRUST ____I will remain trustworthy by keeping my ____ ___I/We trust that our Buyer Specialist
promises and adhering to timelines. I will keep and the Copeland Group are working in my/
my client informed a nd protect their interests, our best interest. I/We will not make financial
which are above my own. or other important decisions that may affect
the transaction before communicating with
my/our agent.
VALUE #2: HONESTY ____ I will provide and facilitate open, honest ____ ___I/We will be responsive and facilitate
communication with and on behalf of the cli- open, honest communication with my/our
ent at all times. agent and all parties to the transaction.
VALUE #3: EXPERTISE ____I am a trustworthy real estate expert in ____ ___I/We trust that our Buyer Specialist
my field. I will immediately inform the client and the Copeland Group are real estate experts.
when they need advice outside of my area(s) of I/We will let their advice guide my/our deci-
expertise. sions and negotiations during the transaction.
OUR PROMISES ____I understand that the client may fire me ____ ___I/We will promptly notify the
with proper notice should I not uphold these Copeland Group when I/we cannot or will not
principles or any written promises. uphold the preceding promises.

Please sign here and retain a copy for your records:

Client Date

Client Date

Buyer Specialist, Copeland Group Date

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BUYER AGREEMENT

We agree to provide you with the following services:
1. We will represent you on a confidential basis. The buyer’s agent does not have to reveal anything about you to the seller.
2. We will set up a free, no-obligation meeting for you with a reputable mortgage broker so that you may get
pre-qualified for your mortgage and learn exactly how much you will qualify to borrow.
3. We will send you regular updates of new homes from the MLS that match your buying criteria. We will preview the
homes you are interested in before showing them to you.
4. We will arrange a private showing of any home you want to see.
5. When you find a home you like, we’ll discuss strategy with you regarding offer price, financing terms, interest rate,
and possession date, and we’ll develop a comparable market analysis.
6. We’ll prepare the offer and negotiate the price.
7. We will negotiate solely on your behalf to obtain the best possible home at the best possible price while offering the
best possible customer service.
8. We’ll recommend the best service with respect to your total home purchase: legal expertise, structural inspections,
termite inspection, survey, appraisal, home warranty, title insurance.

You agree that:
1. This agreement expires six months from today’s date.
2. You will notify us first if you would like to see a home listed by another agent, a new-home builder, or an
unrepresented seller.
3. You will work exclusively with your buyer’s agent in the purchase of a property.
4. You will be responsible only for a $400 transaction fee payable at closing; all other commission fees are paid by the
listing broker or builder.
6. You will seek pre-approval from a home lender after your pre-qualification meeting.

____________________________________ _____________
Buyer’s Signature Date
____________________________________ ______________
Buyer’s Signature Date
_____________________________________ ______________
Agent’s Signature Date
____________________________________ ______________
Dee Copeland, Principal Date

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