While you begin to look for that perfect Northwoods property, we thought we’d take a few minutes to explain an important step in your buying process.

When buying real estate you will be required to make some choices. Even before you select the property itself, you’ll need to decide how you will be visiting and purchasing that property, as our "Customer", or our "Client". Wisconsin law requires Realtors to treat all parties fairly, honestly and ethically. Traditionally, and by law, Realtors are required to represent the Seller's best interest when they show, sell or conduct real estate transactions, unless directed otherwise by the buyer. You have the option of choosing whether we work with you as the traditional "Sellers Agent", or whether we work for you as your "Buyers Agent". What’s the difference you ask? Take a look:

As you can see, as a "customer" we will work with you, as a "client" we will work for you. Either way, we will always work in an honest, ethical and professional manor, but having us working for you as your "Buyers Agent" allows us to assist you (as a buyer) in more ways than working as the traditional "Sellers Agent". (There is NO CHARGE to you for our services as a Buyer Agent; we receive our compensation from the Seller as usual, unless you prefer otherwise.) If you have any questions please drop us a note or give us a call; we’d be happy to discuss the differences with you. If you would like us to represent you as a Buyer’s Agent in the purchase of your Northwoods property please let us know; we need to inform Sellers of this before we tour their property.

Finding the Right Property

Finding the right property is not an easy task. If you are a potential buyer, there are numerous hurdles to be jumped before you finally take possession.

Some buyers like to leave their name and needs with four or five salespeople. Although this sounds like it is to the buyer’s advantage, we have found it to be very ineffective. This approach assumes that a committee can accomplish more than one agent. Like most committee assignments, however, results are often postponed and somewhat discouraging. Because the buyer is not committed to one salesperson, no one is spending extra effort on the buyer’s behalf.

Our advice is to shop for the broker associate that you feel will get the results you want and then stick with them exclusively. In this way you will have a dedicated agent who will take on the personal responsibility of handling all the details of your upcoming real estate purchase. If you give your loyalty to one broker, you will be rewarded with results.

Let’s look at the tasks that must be performed on your behalf:

• You will need financing advice on the price range you can qualify for.
• Your family’s specific needs must be learned so that you are shown only those properties that will suit your needs.
• Appointments must be set and an itinerary established for showings.
• Offers must be prepared, explained, and presented on your behalf.
• Closing documents and final details must be attended to.

If you want all these services you need to work with Jim & Mary Thompson and Coldwell Banker Mulleady Inc.

Our Service to You…

Our Primary Responsibility to You…

To find the best-suited property for you in the area you desire at a price right for you.

Additional Responsibilities to You include…

• To address your financial situation and recommend a comfortable price range.

• To orientate you to the community or areas that apply
• To address your issues of school districts, shopping areas, religious institutions, or recreational facilities.
• To show you all property that matches your search criteria, not just our listings or Coldwell Banker listings.
• To execute your purchase contract and negotiation, carefully explaining all written documents and giving you a copy of everything you sign.
• To assist your attorney if you are using one.
• To help you locate financing and assist in the mortgage application process.
• To explain all settlement papers.
• To attend the settlement/closing with you and make sure you understand the entire settlement process.

Your Responsibilities…

• Tell us if you feel the need to talk to another REALTORâ .
• Work with us until we find you the right property.

Before we jump in the car to start looking at properties we need to discuss your wants and needs, time frame and amount you want to invest in a home. We’ll talk about what services you would like to receive from us and discuss "agency". (Take a look at the service differences at the beginning of this section.) This conversation can be done via email, telephone or in person. We’ll discuss the home buying and financing process and answer any questions you may have. Any information you share with us at this and all future meetings will be kept confidential.

When you have a preliminary loan approval you can confidently shop for your home in a price range that fits your budget secure in knowing that your mortgage has already been approved. A list of the items needed to complete a loan application is found in the end of this information. Sellers are more likely to look favorably on your offer when they know funds have already been secured. In addition, premium northwoods properties tend to move quickly and by being pre-qualified; you will have a negotiating advantage over other buyers that haven’t even started the process yet. If you have already obtained financing, or intend to pay cash, it is advisable to get a letter of verification from your financial institution. If you would like our hope with the financing process please don’t hesitate to ask. We will gladly accompany you to your lenders office or work with them via telephone.

Once you’ve selected the property we’ll help you write an Offer to Purchase, answering your questions and making sure you understand what you’re signing.

With the accepted Offer to Purchase in hand, you again visit your lender and proceed to complete all loan documents. We will work with you and your lender to make the entire financing process go smoothly.

WAITING PERIOD

During this time the Lender finishes processing your loan and orders the appraisal of your home. You order any inspections you’ve requested and satisfy any contingencies to the Offer to Purchase. Homeowner insurance also needs to be secured. The title company completes a title search on the property to verify there are no outstanding liens or defects in the title to the property. Then they assemble all closing documents.

YOU ARE A

NORTHWOODS PROPERTY

for a Loan Application

Employment Information

Addresses for two full years

Gross monthly income

T-4’s if available

Proof of pensions, retirement, or disability

Proof of income from rentals, investments, etc.

Proof of child support or alimony paid/received

Year to date pay stub

If self-employed

Minimum of two years tax receipts

Current year profit and loss statements

Creditor Information

Each creditor’s name, addresses and type of account

Account numbers

Monthly payments and approximate balances

Amount of child cares expenses

Banking Information

Names and addresses of saving institutions

Account numbers for all accounts

Type of accounts and present balance

Miscellaneous Information

List of assets in stocks, bonds, and land

Life insurance cash value (documented if used as cash down payment)

If applicant is selling a home, a copy of sales contracts

Social Security numbers for all parties

Cash or check to pay for application fee

Copy of Accepted Real Estate Offer to Purchase with my Phone Numbers