Park City Home Buyers Resource Guide by David Lawson

PROPERTY BUYER'S RESOURCE GUIDE HOW TO BUY YOUR PERFECT HOME OR PROPERTY

Presented by: The David Lawson Real Estate Team Summit Sothebyâ&#x20AC;&#x2122;s International Realty 1750 Park Avenue | Mail: 1776 Park Ave Ste 4-435 | Park City, Utah 84060 www.ParkCity4Less.com david@davidjlawson.com Direct: 435.901.0904

Note: This presentation is not intended t solicit a buyer currently working with another agent

ÂŠ 2013 Jeff Cossaboon

The Lawson Real Estate Team 1750 Park Ave Mail:1776 Park Avenue Ste 4-435 Park City, UT 84060 M: 435.901.0904 | F: 435.214.4533 Email: david@davidjlawson.com Website: LawsonRealEstateTeam.com

Dear Home Buyer,

When it comes to buying a property, the right agent will mean the difference between your experience being a pleasure and a horror. In many cases it will also mean the difference between whether or not your transaction will close. In short, with things as important as your expenditure of time, limited schedule, and money on the line you need the very best agent you can find. You need someone who will work diligently to find you the EXACT house you are looking for, who recognizes good value when they find it, who won’t just search for properties in the Multiple Listing Service, but For-Sale-By-Owner properties, Foreclosures, Short Sales, even for houses that aren’t listed! Next, you need someone who is willing to make your real estate transaction take place within the time frame you have allotted. Then, you need a top negotiator who can wrangle a deal with the seller to get you the best possible price, and insure that the financing terms are the best you can get. Finally, you need someone who will review all closing documents to look for errors and when found, make sure that those errors are corrected to save you time and money. To be precise, you need David J. Lawson. That is a very strong statement, but consider the simple facts for a moment. David is among the very top agents in our area. He knows the market, and the inventory as no one else. Because of David’s negotiating skills he is typically able to close deals for his buyers that are 2.24% less than the average in our area. And while 2.24% may not seem like much money, if you are only purchasing a home for an assumed Park City median price of $829,000 that translates into $18,580 more in your pocket. Another thing to consider is that 72% of other agent’s clients are unhappy with their real estate experience, while the overwhelming majority of David’s clients are extremely happy. Why? Because of the customer care they receive. When you work with David you get a completely different real estate experience than you might from most agents. For instance, most agents will simply put the basic parameters of what you are looking for into the MLS computer service and then send you a printout of what is available. They tell you to, "Look it over and highlight those that might interest you". Then they take you out to see those properties. That isn’t what you get when you work with Mr. Lawson. David will not only want to know about the property you want, but the type of neighborhood, the features of the property, the time 3

frame in which you are working, the amenities you might need to live in close proximity to, etc. I have known David for over 20 years and I have watched him in every business venture he has undertaken. The one thing I can say unequivocally is that he is a consummate professional. He doesn’t do anything unless he does it well. If you want to be treated with the professional courtesy that you deserve, if you want someone who is concerned with not only your housing requirements, but your location needs, you time-frame issues, lifestyle concerns, everything associated with a quality real estate transaction, then in my mind there is only one choice. Choose the very best. Choose to work with David J. Lawson. Simply put, you are a quality client and he is the very best agent you will find. It is a perfect fit. The sooner you call, the sooner he can start working to get you into your ideal home or property. So call him today at 435-901-0904 Sincerely,

Jeffrey F. Cossaboon Jeffrey F. Cossaboon Member - Lawson Real Estate Team P.S. As a bonus, Mr. Lawson would like to provide you with a FREE One Year Home Warranty when you choose to use him as your buyer’s agent. If you call now he can get started right away. His number is 435-901-0904

The ULTIMATE Real Estate Buying Experience There are many types of experiences that buyers can have when they purchase a property. The experience can be trying and arduous, it can be tedious, it can even be scary, or they can have the Ultimate Buying Experience. Which do you suppose you might like to have?

There is a reason that more buyers in the Park City area purchase their homes through David J. Lawson â&#x20AC;Śit is because he uses a completely different approach to the whole buying process, which in turn generates completely different results for his clients.

This unique approach seems to really work well for his buyers, people much like you. As you will see in just a moment, when it comes to David Lawson there is a clear difference in 5

ÂŠ 2013 Jeff Cossaboon

virtually every aspect of the real estate transaction such as David’s:         

Unparalleled Dedication Superior Attention to Details Unrivaled Expertise Unique and Proven Approach Team of Experts Lower Purchase Cost Free Services Added Bonuses and Guarantee Free Resources o The Top Reason For Buying a Home o Pitfalls to Avoid When Buying a Home o Your Dream Home Profile

The simple fact is that David asks the important questions. Then he listens and tries to respond in a manner that gets you the results you want. Once you tell him what it is you are looking for, your concerns become his concerns. Next, he goes on a search as if it were a treasure hunt. He not only looks in the Multiple Listing Service for properties, no, he looks at expired listings, foreclosures, short-sale properties, even properties that aren’t listed. At every step of the way David communicates his discoveries, his successes and even his failures, when he has them. He then discusses what he has found and lets you see the jewels he had discovered. Once you are pleased with the property he helps you craft a good, solid offer and then presents your offer to the seller. He then negotiates the very best deal he can get for you, keeping in mind at every step your timetable. Once the offer is accepted he will review the closing documents, often finding errors that might have cost his clients unnecessary expenditures. And finally he goes to the closing to ensure all goes smoothly.

How well does all this effort work? Well…

What A Few Of Our Clients Have Said… 

David was our buyer's agent for our recent home purchase in Jeremy Ranch. David is incredibly knowledgeable about the area, the local real estate market, and the real estate buy/sell process. His level of professionalism is unparalleled in my experience. He was always on top of every detail, was very responsive, and has a vast network of contacts in the Park City area. He has been personally involved in all aspects of real estate in Park City as a builder/contractor, agent, and of course buying/selling many of his own homes in the area over many, many years. You really can't ask any more from a real estate agent. David will definitely be our agent of choice for any other real estate transactions we do in the future and will be our first and best recommendation to all of our friends/family. Travis Wright



I have known David for over 10 years. His service, professionalism and dedication are unparalleled in Park City real estate. I purchased four properties through David, including 3 investment properties and my home in Deer Valley. I felt David's skills in finding and negotiating our real estate purchases critical to our success. I would highly recommend David to represent both buyers and sellers in Park City. Richard R. Shooting Star Pictures



We had the pleasure of working with David on a recent search and purchase of a condo in Park City. We are so happy we chose David to work with. David gave us his undivided attention, shared his wealth of knowledge of Park City, negotiated a contract we are very happy with and gave us referrals / contact information for insurance, utilities and the like. Although we do not reside in Park City and did the closing via emails, we felt connected throughout the entire process. In addition to David being available to us with any questions or concerns, Wendy Martin from his office helped with all the closing documents and was also an added bonus! We can not say enough good things about David; we look forward to working with him again in the future! Mark and Laura Clounch



After accepting a new job in Salt Lake City but before moving from Maryland In 2002, I and my wife decided we wanted to build a house in the Park City area because we had always wanted to live in the mountains. We visited Park City and hooked with David Lawson to help us find and buy a lot to build our dream house. What a great (lucky?) decision it was to work with David. We had little to no knowledge of the Park City area, and David showed us several properties that fit our budget, need to commute to Salt Lake City, and desire for a truly awesome view of the mountains. In addition, he showed us some homes that were similar to the one we wanted to build so we could determine if we really wanted to build or buy an existing home. He helped us find and purchase the perfect property. It was an extremely pleasant experience working with David. David has since helped us several times with real estate valuation questions without any consideration of remuneration. When we decide to sell or buy property in the future, David will be our real estate agent. I give David a five out of five star rating and recommendation. Gary Heather Ellis



David has helped me find good value in the Park City market - I recommend him as a buyer or seller's agent. Randy C

Unparalleled Commitment As your buyer agent, David tries his very best to find you the house you want, for a price that fits your budget, and works to make your transaction come together within your timeframe. In order to accomplish this David will: 1. 2. 3. 4. 5. 6. 7. 8.

Have you complete the Dream Home Profile Conduct an in-depth interview with you to determine your needs and wants. Assist you in arranging all financing, appraisals and inspections. Invite you to ParkCity4Less.com to allow you to search all available listings for sale yourself. Develop a shopping plan that’s right for you. Research all For Sale by Owners; as well as expired, withdrawn & cancelled listings for additional potential matches. Regularly search our database of clients, leads, and neighborhoods that you want to live in, leaving no stone unturned to find the home of your choice. Contact other top listing agents to discuss potential “pocket listings”.

9. Broadcast our need and wants at our weekly office meeting, attended by almost one hundred agents, and preview property weekly to view new inventory. 10. Show you the properties you select and obtain all information you need to determine the type of offer you want to make. 11. Write the purchase contract and arrange for it to be presented. 12. Exercise superior negotiating skills in order to get you the best possible value. 13. Supervise the completion of all paperwork. 14. Contact you to advise you of the status and answer any questions you may have. 15. Schedule inspections and appraisals. 16. Arrange a final walk-through. 17. Review closing documents, arrange for and attend every closing. 18. Deliver the keys. 19. Be your real estate consultant for life.

Buyer Testimonial This is my 3rd purchase from David. He follows up on everything. He found me a foreclosure and had the deal closed in 2 weeks. Great deal. Hardest working realtor I know. ED Ingargiola.

ÂŠ 2013 Jeff Cossaboon

Superior Attention To Details David reviews all offers and counter offers, all loan applications, as well as all closing documents. In doing so, David will regularly find errors which had they not been caught would have cost his clientâ&#x20AC;&#x2122;s money and might have meant the end of the transaction.

Buyer Testimonial David did an excellent job from start to finish. Always attentive and diligent, he brings great expertise and a friendly and honest approach to his clients. A very pleasant experience. I highly recommend him for any buy, sell or other real estate transaction. Definitely one of the best. David Barry

ÂŠ 2013 Jeff Cossaboon

Unrivaled Expertise You may not know it, but 25% of all purchases fall through because of problems with the funding. Because of Mr. Lawsonâ&#x20AC;&#x2122;s experience, he is generally able to determine where the potential problems are and fix them before they become a major issue. And while the choice of lenders is up to you, if you will follow his suggestion you will only work with the top mortgage brokers in our area, who have both extensive experience as well as a long and proven track record. They understand that his clients are the best, and that he expects nothing less than the best for his clients. Since they are seasoned professionals, the best is what they deliver.

Buyer Testimonial David has represented my interests in several real estate transactions for the past several years. His knowledge of the local market conditions has always helped me get the most beneficial transaction for all parties involved. His staff members are subject-matter experts and are always helpful in making a smooth timely transaction. David's knowledge, attention to details, and negotiation skills have made complex, cumbersome transactions seem routine. He is also a great person, and is sincere in his desire to please. Lucas Pol

ÂŠ 2013 Jeff Cossaboon

Unique Proven Approach Unlike most agents, David doesn’t merely use the Multiple Listing Service (MLS) to find you a property. Instead, he works diligently to find you the EXACT house you are looking for. Because of his knowledge of our market, he recognizes good value when he finds it. Besides searching for properties in the Multiple Listing Service, he also searches through For-Sale-ByOwner properties, Foreclosures, Short Sales, Expired Listings, even for houses that aren’t listed. He understands that deadlines are important, so he does all he can to make your real estate transaction take place within your time frame.

Team of Experts Here is something to consider for a moment, Why Do You Suppose 72% of Other Agent’s Sellers are Dissatisfied…While, at the same time, the overwhelming majority of David’s clients love him? The primary reason that other agent’s clients are unsatisfied is due to poor communication between agents and the buyer. This isn’t because other agents aren’t hard workers either. The fact is that most agents are just about killing themselves to sell a few houses every year. The problem is that most agents try to do everything all by themselves, but they simply run out of the time, energy, and money to do the job and communicate with you properly. Finding the right property to show to their buyer takes a lot of work... and the simple reality is that most single agents cannot reasonably meet the demands that the job requires such as: • Meet with the buyer to determine what he and or she is looking to buy • Determine key features wanted in the home • Search thorough comparative marketing analysis’s of the various neighborhoods • Help determine what a buyer can reasonably afford • Have a keen understanding of the market • Have intimate knowledge of the inventory available • Search the Multiple Listing Service for listings that might fit. • Preview homes for prospective buyers • Attend Realtor open houses • Present possible home options to buyers • Take buyers around to see the prospective homes • Network with other agents for suggestions of properties that might be a good fit • Write and present offers for the purchase of the home • Negotiate for the best price 14

• Receive and review counter offers • Make suggestions for counter offers and present them • Ensure that the property is sound and that the buyer is protected from property defects • Prepare and review closing documents • Go to closing to ensure all goes smoothly • The list goes on and on… That is why it really takes a team of dedicated experts to make sure that all the needs to be done gets done, smoothly, and efficiently. And that is why we use just such a team to ensure that your experience is positive. David is very much a team player. He is the leader of the David Lawson Real Estate Team which consists of eight professionals dedicated to ensuring your real estate transaction moves as smoothly through closing as possible. This top-producing and expert- filled team is associated with Summit Sotheby's International, which is in many ways the top real estate firm in the Summit County area, and is also the most respected name in the real estate industry, not only nationally, but internationally. To help make your real estate transaction go as smoothly as possible, The Lawson Real Estate team have developed alliances with what we believe to be the top mortgage brokerages, as well as the top title companies in our area. In the past 12+ years The David Lawson Real Estate Team has completed almost 1,000 transactions and has a long list of satisfied clients who regularly recommend his team and him. This group of experts is dedicated to tackling every task involved in finding you the perfect home. We make sure that the things that are important to you become our top priority. Buyer Testimonial Over the years David has successfully represented me as listing and buyer's agent. He's a professional's professional who knows the Park City market inside and out. I would never use anyone else. The hardest part of selling a property, especially now, is determining a realistic price. David is a great listener. Tell him your story and your needs as honestly as possible. Then answer his questions and listen carefully to what he says. I've learned that David will buy or sell property for you with as much care as if it were his own. David is personable and easy to work with. I like to pick his brain about the best investment deals (and steals) to be had in Park City. Lately he's become an expert on short sales. Although I've never used him for a short sale, I'd readily recommend using him to someone in need. If you need to appeal your property tax valuation, David has a service (which I've used) to do just that. He won a big refund for me and did all the work. - William Snider

Lower Purchase Costs

nother advantage of working with Mr. Lawson is that he is a top negotiator who works diligently to get you the best possible price, and is successful the majority of the time. In fact he typically gets 2.24% more than the board average for his buyers*, and while 2.24% may not seem like a lot, if you are only buying a property with an assumed average list price of $829,500, that could mean an extra $18,580.80 in your pocket. Who else do you know who could get you almost twenty thousand dollars just for working with them? * Source: PCMLS 2006-2012

ÂŠ 2013 Jeff Cossaboon

Free Services One of the very best things about working with David Lawson, in addition to all the above advantages and additional expertise you get when you work with him, is the fact that you don't pay extra for all that professionalism and expertise. In fact you only pay the amount you would for any other buyer's agent . . . which is $0! Why is that? Because the seller is typically the one who pays real estate agents for their services. Are there exceptions? Sure. There always are. Why just this past week David was able to help one of his client's close on a short-sale purchase where the seller, a bank, refused to pay for the RealtorÂŽ fees. In this case the buyer was so overjoyed with the wonderful price he got on the property he purchased that he was more than happy to pay the small amount for Mr. Lawson's services. It was just one more example of where everyone won.

ÂŠ 2013 Jeff Cossaboon

Bonuses! To make your buying experience even better, we have included some important and valuable information in the way of FREE resources to help you on your way. These include:

1. The Top Reasons For Buying a Home 2. Pitfalls To Avoid When Buying A Home 3. Your Dream Home Profile These free resources follow this page in the above orderâ&#x20AC;Ś

ÂŠ 2013 Jeff Cossaboon

The Top 8 Reasons For Buying a Home If you’re like most home buyers you’ve probably listened to friends’, families and coworkers’ advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are eight good reasons why you should buy a home. 1. Pride of Ownership Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It’s making an investment in your 19

future. 2. Appreciation Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. It’s house price index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation. 3. Mortgage Interest Deductions Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, your mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment. 4. Property Tax Deductions IRS Publication 530 contains tax information for first time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. 5. Capital Gain Exclusion As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the “over-55” rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation. 6. Preferential Tax Treatment If you receive more profit than the allowable exclusion upon the sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment. 7. Mortgage Reduction Builds Equity Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500. 8. Equity Loans Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. On the other hand, equity loan interest is often much less, and is usually deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home’s equity for a variety of reasons such as home improvement, college, medical or starting a new business. Please note: The laws in some states make restrictions on home equity loans. Be sure to check regulations in your area. 20

Pitfalls To Avoid When Buying A Home Home buyers hope they have made the right choice when they find that dream home. After planning, searching and successfully buying that new home, nobody wants to later discover it was all a big mistake. These tips will help home buyers avoid the costly mistakes that often plague the less educated. Pitfall #1: Refusing to Confide in a Trusted Advisor This advisor could be your real estate lawyer or real estate agent. Buyers withhold information for a variety of reasons such as: • • • •

Fear of how they will be perceived Irrational belief they have all the answers Don’t feel it is important enough Lack confidence in their advisor

Experienced real estate professionals handle such a multitude of transactions and personality mixes, there’s little they haven’t heard before. Your advisors are representing your best interests and have a fiduciary responsibility to do so. They can’t help you if they don’t know what you are doing. Plus, they will likely have a better idea for you than you can dredge up. If you have cold feet and have thoughts about backing out of the transaction, talk to your agent about those feelings. They can help walk you through the anxieties. Pros will help you to determine if you really need to cancel and, if so, manage the transaction so you can get your earnest money deposit back.

Pitfall #2: Altering Financial Pictures Prior to Closing When I bought my first home, I easily qualified because I had no car payment, and no revolving debt. A week before closing, I bought a new car and financed the purchase. New ratios meant I no longer qualified. A frantic phone call to my mother, begging her to lend me the money to pay off my car loan (and threatening to show up on her doorstep with luggage in tow and a cat under each arm), was the only tactic that saved me from losing the house.

Today’s home buyers make the same mistake. Do not buy anything on credit and/or with a credit card once you have completed a loan application. Do NOT buy: • • • • •

Automobiles Washers, dryers, refrigerators Lawnmowers or garden equipment Expensive electronics or computers Furniture for your new home

Slight alterations in your credit ratios, even paying off a loan or line of credit, could cause an underwriter to throw out your loan and deny it. If your loan contingency has expired or been removed, you could forfeit your earnest money deposit in addition to losing the home. Pitfall #3: Buying the Wrong House The very first thing home buyers should do is make a list of priorities and define home purchase objectives. Figure out what features and benefits are most important and which you can live without. Before you close escrow, review this list. It’s easy to overlook a major factor that could come back to haunt you later, however, by following this short guide to avoiding pitfalls, you should be well on your way toward a positive real estate experience. Once you have your home purchase objectives on paper, the next thing you should do is to complete a copy of Your Dream Home Profile. We have included one for you in the next section. 22

Your Dream-Home Profile This is where the fun begins. This form allows you to begin to dream a little and then put your dreams on to paper. Please fill out this Dream Home Profile so we may begin to help you find the home (or property) of your dreams… (please note, you do not have to complete every line, this is just a guide to assist you.)

CONTACT INFORMATION: Your First Name: ______________________ Spouse’s First Name: ______________________ Your Last Name: _______________________________ Address: _____________________________________________________________________________ Your Cell: _____________________________________ Your Work Phone: _____________________________________ Your Email: ________________________________________ Spouse’s Cell: _____________________________________ Spouse’s Work Phone: _____________________________________ Spouse’s Email: ________________________________________ 23

HOME & NEIGHBORHOOD PROFILE 1. Briefly describe your dream home: _____________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 2. How much home shopping have you done so far? ________________________________________ _____________________________________________________________________________________ 3. What neighborhoods or areas do you like? _______________________________________________ _____________________________________________________________________________________ 4. What is interesting or important to you about those areas? _________________________________ _____________________________________________________________________________________ 5. Have you seen any specific homes you like? Can you describe them for me? ___________________ _____________________________________________________________________________________ _____________________________________________________________________________________

SPECIFIC HOME SEARCH CRITERIA 1. Please indicate your needs: # BR: _____

# BA: _____

# of levels _____

Sq. Ft.: ______ Lot size: _______ Garage Size: ______

# of Fireplaces___

# of Family rooms____

ÂŠ 2013 Jeff Cossaboon

Ski lockers? yes | no Shop? yes | no Craft/hobby room? yes | no Bonus room? yes | no Wine Cellar? yes | no Home Theatre? Yes | no Hot Tub? yes | no Steam Shower? yes | no Elevator? Yes | no R. V. Space? Yes | no Other: _______________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 3. Is there any particular architectural or decorating style that you prefer? _______________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 4. Are there any unique proximity requirements you would like to have such as ski-in/ski-out, be on a golf course, proximity to school or church, etc.? _____________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ 5. Miscellaneous features and special needs: _______________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________

Now that you have completed your Dream Home Profile, it is time to call David Lawson to have him begin to find the property to match your dreams. If you call him today he can start right away. You may reach him at 435-901-0904.

ÂŠ 2013 Jeff Cossaboon