OFFICE
410 N Santa Cruz Ave
Los Gatos, CA 95030
CA DRE License Numbers
01463002, 00613226, 01971452, 0613226
CONTACT
Michael LoMonaco: (408) 891-4342
Don Perry: (408) 656-1898

Michelle LoMonaco: (408) 891-5976

GLOBAL

LUXURY

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We have a common goal

Making you a homeowner. Let's make it happen!
Ensuring you exceptional service at every step of
your home buying process.

03

Making an Offer

04

Closing

01

Your Agent

02

Pre-Approval

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Your Agent

When you choose a Coldwell Banker® agent to represent you, you’ll have someone by your side every step of the way, giving you the insights and information you need to have confidence in your decision. Your associate will:

  • Meet with you to discuss your needs and goals, and to plan your property search

  • Help you get pre-approved and establish your budget

  • Show you properties that meet your criteria

  • Keep you informed of new properties that come on the market

  • Work with you until you find the right home

  • Help you determine your offer

  • Negotiate the offer and contract in your best interests

  • Facilitate the home inspection and resolution process

  • Prepare you for closing and the associated costs

  • Keep you updated on the progress of your transaction every step of the way

Pre-Approval

The first step in any home search is finding out exactly how much home you can afford and securing the financing to make the purchase. While you can get a rough estimate through pre-qualification, taking the extra step to obtain pre-approval will give you some added advantages. Here are some of the documents that you will need to provide your lender to get the pre-approval process started:

  • Current pay stubs, usually for last two months

  • W-2s or 1099s, usually for last two years

  • Tax returns, usually for last two years​

  • Bank statements

  • Investments/brokerage firm statements

  • Net worth of businesses owned
    (if applicable)

  • Credit card statements

  • Loan statements

  • Alimony/child support payments
    (if applicable)

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3

Making an Offer

There are many factors that influence the market value of a home. Your Coldwell Banker® agent will give you the insight and information you need to make an offer you’re comfortable with. Some of the factors to consider include:

  • How long the home has been on the market

  • If the price has been reduced

  • How much the home is worth — your agent will provide a comparable market analysis (CMA) showing the list and sale prices for similar homes in your area

  • If there are multiple offers

  • Other items that might be included in the sale (furniture, hot tub, etc.)

  • The "list to sale price ratio," an indication of how competitive the market is for homes in this area

  • Why the seller is selling

  • Whether the seller is offering an assumable loan or financing

  • Once the offer is written, your agent will present it to the seller's agent. At that point the seller can accept your offer, reject it or counter it to start the negotiation process. Your agent will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricing for you and your budget.

Closing

Once your offer has been accepted, the closing process begins. Here are some of the typical steps involved.

  • Home Inspection — Most property sales are contingent on the results of a home inspection, which is paid for by the buyer. The inspection typically occurs within 10 days of offer acceptance, and includes a review of the home’s exterior elements like the roof, siding, trim and windows, as well as kitchen and bathroom fixtures and appliances and major systems like heating and cooling, plumbing and electrical.

    • If defects are discovered during the inspection, you may exercise the remedy described in your offer or negotiate with the seller to determine what repairs will be made.

  • Title Search — This is a historical review of all legal documents relating to ownership of the property to ensure that there are no claims against the title of the property. It is also recommended that you purchase title insurance in case the records contain errors or there are mistakes in the review process.

  • Appraisal — As a standard part of the mortgage process, your lender will order an appraisal report to ensure that the loan will be guaranteed by the home's value.

  • Final Walk-Through — If it's requested in the contract, you’ll be given the chance to look at the home to make sure it's in the same condition as when you signed the sales agreement.

  • Closing Costs — In addition to your deposit and down payment, there are a variety of other costs involved in closing including:

    • Loan origination fees, appraisals and reports

    • Surveys and inspections

    • Mortgage insurance

    • Hazard insurance

    • Taxes

    • Assessments

    • Title insurance, notary and escrow fees

    • Recording fees and stamps

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