YOUR STEP-BY-STEP INSIDERS GUIDE TO REAL ESTATE
INNOVATIVE STRATEGIES FOR THE CRAZY SAN FRANCISCO REAL ESTATE MARKET
(We never get tired of saying that) 😊
WELCOME TO SAN FRANCISCO!
San Francisco is a unique and extraordinary city with many different twists, turns, and surprises around every corner. This is especially true with the local real estate market. Having an experienced, full time, local Realtor is crucial to helping you navigate the fast-paced and competitive home buying market that is San Francisco.
Because San Francisco is such an unusual marketplace, you need an active team of Realtors that are knowledgeable about the current local market, its nuances, and the many different neighborhoods that make up this great city. Doug & Eddy know San Francisco and all its neighborhoods like the backs of their hands and are here to help you find a place you love in this thriving, iconic city.
Doug & Eddy have access to off-market listings not found in the public MLS, Redfin, or Zillow and will be your resource for all things real estate including lending options, negotiations, disclosures, and inspections, all the way to the final closing. Doug & Eddy are here to mentor and guide you through each step of the property buying process, and they welcome the opportunity to be your trusted advisors, advocates, and Realtors.
HERE IS WHERE DOUG & EDDY COME IN
-
Local Connections. San Francisco has been Corcoran's home since 1978, Doug’s home since 1992, and Eddy’s home since 2012, and they know it well. Whether you are a long-time resident or you are new to the area, they will be by your side, providing up-to-the-minute information and proprietary market intelligence to help you close the best deal.
-
Personal Guidance. Doug & Eddy pride themselves on their cadre of service professionals and inspectors and are well known and respected in the local Realtor community. They will guide you through the home-buying process by reviewing disclosure documentation, proposing the best offer price, and being there for you every step of the way from start to finish, empowering you to make smart decisions.
-
Technology. Corcoran is tech-enabled, so you don’t have to be. Connecting with you is always personal. While they utilize best-in-class technology to manage the buying process efficiently, you can focus on what matters to you.
-
Inspection Assistance. When you want to take a closer look at a property, they will be by your side. They will provide you with a short-list of established inspectors, attend the inspections with you and offer skilled direction on moving forward.
-
Closing Assistance. Doug & Eddy and Corcoran Real Estate know that the escrow process can be just as overwhelming as the beginning stages. They will support you through signing the closing papers and assist you in handling any last-minute details.
Doug & Eddy:
STEP 1 LET'S IDENTIFY YOUR NEEDS
Doug & Eddy will meet with you for an initial consultation to answer any questions you may have, and discuss what is essential for you while establishing your wants, needs, and desires in your new property. They will explain the property buying process in-depth and design a plan of action unique to you and your needs.
Since determining your purchasing power is the first step in the home buying process, Doug & Eddy will recommend a trusted and local mortgage professional who will provide you the best possible rates, advice, and service.
WHERE IN THE CITY DO YOU WANT TO LIVE?
Click each map to view printable version
The Realtor map is a complete list of all of the neighborhoods in the City.
Our commerce map shows all of the major commerce shopping areas in the City.
Our liquefaction map illustrates the areas of the City where liquefaction can occur.
STEP 2 LET'S FIND YOUR PROPERTY
Doug & Eddy will be seeking the right property for you using the technology of the San Francisco Multiple Listing Service and the extensive resources of Corcoran Global Living. Doug & Eddy also have access to off-market listings and they will tailor your searches to fit your specific needs. They will preview properties that meet your criteria, arrange special viewings for you during the week, and on weekends you can tour property together, or they will send you a tour itinerary of relevant properties for you to view. They will work tirelessly until the right property is identified. They will then request and review the property disclosures, recommend inspections, and prepare relevant comparable sales information so that you can make an informed decision about your offer.
Whether touring with Doug & Eddy or on your own, you’ll be provided with a suggested tour route and schedule. You’ll also receive a map that pinpoints
each property's location.
OPEN HOUSE KIT
The Waze Way
The indispensable directions app for getting around the City like a pro. Seriously, we don’t tour without it.
DISCLOSURE PACKAGE REVIEW
When you discover a property that is of interest to you, we will request and provide the disclosure package for the property. This package will include property specific disclosures that have been completed and supplied by the Seller. There will also be a variety of general disclosures that will be the same for any property and are required by either local or state statute. If the property is a condo, co-op, or a Tenancy In Common (TIC) the package will include the HOA documentation including, but not limited to; CC&R's, Articles of Incorporation, one year of Meeting Minutes, the Yearly Budget, a Condo Financial Disclosure, House Rules, etc.
It is imperative to review the provided disclosures thoroughly and ask any questions you may have. We'll help guide you through the package by providing you a disclosure package review. This spreadsheet will list all of the disclosures required for a transaction and our notes, questions to the listing agent (if any), and concerns on the items contained in the package.
Disclosure Package Review
Click Arrows or Scroll to Zoom,
Drag to Move, Double-Click to Reset.
COMPARATIVE MARKET ANALYSIS
Before submitting an offer, we'll need to evaluate at what price the property is likely to sell for.
To help evaluate the potential sale price, we'll prepare a Comparative Market Analysis (CMA). The CMA will show a side by side comparison of the Subject Property with recently sold neighborhood comparables.
How this spreadsheet works:
If the Subject Property is "nicer" we'll add value to the Comparable Property. If the Subject Property is "not as nice" we'll deduct value from the Comparable Property. This adjustment is made for a wide variety of criteria including, but not limited to; square footage, views, condition, floor plan, outdoor space, neighborhood, appreciation, etc.
The information in these examples is utilizing data from a previous listing of Doug & Eddy at 715Page.com:
In the example above, the adjusted values are found in red in row number twenty-eight. You'll also see the low, high, and average adjusted values. This property was listed for $1,249,000 with the expectation that it would sell for around $1,450,000+ As you'll see in the OFFERS RECEIVED section, the final sale price was $1,550,00 with the next highest offer coming in at $1,475,000. Had it not been for the outlier offer the sale price would have been very close to what the Seller expected. (The Sellers were thrilled with the outlier offer.)
STEP 3 LET'S WRITE A COMPELLING OFFER
The San Francisco market is very competitive, and properties often receive multiple offers and sell significantly over the list or "asking" price.
In addition to pricing, Doug & Eddy will advise you on the best contingency strategy to make your offer as strong as possible. They are dedicated to your best interests and will negotiate aggressively on your behalf towards the goal of a ratified contract for your new home.
THE SAN FRANCISCO PURCHASE AGREEMENT
PRESENTING YOUR OFFER
Our Offer Package contains:
-
Summary of the offer
-
Preapproval Letter
-
Agency Disclosure
-
Purchase Agreement
-
Buyer’s Inspection Advisory
-
Market Conditions Advisory
-
Other pertinent disclosure information including:
-
Advisory Regarding Arbitration and Liquidated Damages
-
Advisory Regarding Electronic Signatures
-
The signed Disclosure Package or at a minimum, the Cover Page to the Disclosures
-
Most listings in San Francisco will schedule a date and time to accept offers.
Your offer will be packaged into one neat file for delivery to the Listing Agent. Many agents present their offers with multiple email attachments. This makes more work for the listing agent when packaging the offers for presentation to the Seller. Doug & Eddy send a single cohesive file, and this seemingly insignificant detail can go a long way when the listing agent has two very similar offers to present to the Seller.
THE BIG DAY
After the offers have been submitted, the listing agent will provide the Seller with a break down of each offer. The spreadsheet linked below if from a listing where Doug & Eddy represented the Seller.
The Sellers received five offers, and as you'll see on the offer spreadsheet, these offers ranged from $1,350,00-$1,550,000.
You'll also notice the contingency strategy for each offer and other notes on what each Buyer offered.
We included a complete disclosure package including thorough inspections from reputable local companies. You'll notice because of the complete disclosure package (and the competition for the unit) each Buyer felt comfortable waiving their inspection contingency, and three Buyers submitted an All Contingency Removal form with their offer.
STEP 4 LET'S CLOSE ESCROW & GET YOUR KEYS
Doug & Eddy will manage and oversee your escrow process to ensure all of the necessary steps are completed on time. These steps include; depositing earnest money, arranging for and attending any inspections, reviewing and obtaining explanations for any exceptions to title that are recorded against the property and working with your mortgage broker to secure funding with your lender. The entire process will be documented on our Basecamp Project Mangement Calendar, so you'll always know where in the process your escrow is.
If the property requires an inspection
contingency they will arrange inspections with
trusted, local home inspectors. If during the inspection period defects are discovered that were not disclosed, they will work aggressively to obtain the appropriate credit or repair from the Seller.
They will be present for the appraisal, the inspections, and the final walk before the close of escrow. They will attend the signing of your loan documents at the title company, and when the property records with the City, they’ll deliver you the keys to your new home!
TIMELINE MANAGEMENT
Doug & Eddy utilize Basecamp for their transaction management. Basecamp includes a calendar of events, deadlines, and a list of to-do's that will occur during your transaction. It's a great way to stay organized and keep everyone on the same page.
STEP 5 LOVE YOUR NEW HOME & ALWAYS COUNT ON US
Doug & Eddy will continue to be your resource and mentor for anything that may arise. They can provide you with referrals for any home improvement project:
-
Contractors
-
Interior Decorators
-
Handypersons for Repairs
-
Painters
-
Gardeners
-
etc.
If anything comes up do not hesitate to ask any questions, as always, we will make sure you have the answers.
YOUR NEXT STEP CONTACT US & LET'S GET STARTED
Now that you have a general overview of the San Francisco real estate market let’s find you a home!
Doug & Eddy specialize in breaking down the process to make the home buying process, understandable manageable, and fun! They will educate you on current market conditions and provide with the knowledge necessary to know what questions to ask and what to look for when touring a property and reading a disclosure package.
Buying real estate can be exhilarating! But it can also be daunting. Let Doug & Eddy and their team at Corcoran Real Estate take the stress out of your next real estate decision and make sure you are thrilled with your new property.
REMEMBER, WE'LL BE WITH YOU EVERY STEP OF THE WAY
Let us know how we can help!
