Southwest Homes of Distinction
Bac k e d b y Legen d ary Str en g t h To be rewarding, the sale of a luxury property must be handled by an experienced specialist with uncommon high-end expertise, connections and resources. You can be assured of the highest level of representation when you choose an agent with our Luxury Collectionsm Division, a member of one of the top brokerages in the nation.
The Integrity of Leadership. The Strength of Reputation. The Sign of Quality.
Don Lainer’s Platinum Elite Group
Welcome to the Family! Dear Client: It is our pleasure to welcome you into The Platinum Elite Family! We go to great lengths, making every effort in hopes of a smooth transaction for each of our clients. We sincerely wish that whether you are a savvy investor or a first time buyer you find your investment and/or new home comfortable, enjoyable and profitable. This welcome letter will provide important information for your Real Estate needs.
OUR COMMITMENT TO YOU! Commitment, a word that is centered around pledging responsibility, being held accountable for what we say or do for someone else. It becomes the yardstick that we are measured by, leaving us under close scrutiny to see if we will live up to what we say. At The Platinum Elite Group, we feel confident in our dedication to the industry. We strive to provide service that is responsive and professional. We commit our time and attention to your transaction, so that you can join that confidence too. Each of us knows the importance of repeat and referral business. It occurs when you have had a successful and pleasant experience with us. We are committed to developing relationships, not just processing deals. We want to work with you to find out what is important to you, and keep communication flowing so that you are always aware of the circumstances concerning your transaction. You are vital to us and our success. We pledge to never lose sight of that, or take the sharing of your successes with us for granted. These statements are our commitment to you. No lofty promises of excellence to lure you first and disappoint you later ~~just an honest and sincere statement of service that we stand behind unconditionally. Please peruse through our Welcome Packet and Read | Compare | Use any information that is useful to you in your current and future Real Estate needs. We look forward to your coming home. On Behalf of the Platinum Elite Group Team, Thank you for choosing…..
Don Lainer’s Platinum Elite Group “Always Remember, we are never to busy to help you or any personal referral from good people like you! Thank you in advance for all your Business and Referrals!” 7475 W. Sahara Ave. • Suite 100 • Las Vegas, NV 89117 • Phone: (702) 869-9999 • Fax: (702) 317-3424 RESIDENTIAL • HIGH RISE • OFFICE • MULTI FAMILY • COMMERCIAL • INDUSTRIAL • RETAIL • LAND
Don Lainer’s Platinum Elite Group
Dear Investor: Thank you for choosing Don Lainer’s Platinum Elite Group for your property management, rental listing and portfolio management needs. We greatly appreciate your trust and will attempt to provide you with the highest quality of service available. Just to share with you, here is a brief overview of the services that we will provide to you, and your potential resident(s). 1. We will initially collect information from you about your investment, and discuss what criteria it is that you would like advertised. 2. We will list your property on MLS for maximum REALTOR® exposure. 3. We will then attach a lockbox so that other licensed sales agents can show the property. This step can be modified if your wishes are different. 4. We provide general advertising for studios, one, two, three, & four bedroom apartment, home and commercial lease/rentals. Also ran, are general ads in the local newspapers and on-line, consistent with our availability of properties for lease, but not specific to any one property. For ads specific to your property, we suggest that you additionally advertise in any preferred media venue, with the option of listing our contact information for additional convenience. 5. We, of course, will additionally advertise, show and give every effort to sell the advantages of your property. 6. If requested, we can complete a credit check, employment verification, and rental history on any potential renter, and obtain your approval before deciding on a tenant. 7. Where Owner/Client Management occurs, we can help facilitate the completion of your lease agreement and filling out any applicable Housing Authority paperwork where applicable. 8. We will provide the resident with the necessary information to contact for emergency services, etc., as well as where to send or deposit monthly rent payments. Our services are invaluable and we are always available to provide you with the highest level of customer service possible. On Behalf of the Property Management Team, Thank you for choosing…..
Don Lainer’s Platinum Elite Group “Always Remember, we are never to busy to help you or any personal referral from good people like you! Thank you in advance for all your Business and Referrals!” 7475 W. Sahara Ave. • Suite 100 • Las Vegas, NV 89117 • Phone: (702) 869-9999 • Fax: (702) 317-3424 RESIDENTIAL • HIGH RISE • OFFICE • MULTI FAMILY • COMMERCIAL • INDUSTRIAL • RETAIL • LAND
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“Let Us Become Your REALTORS For Life!” Attention Realtors and Agent Minded Applicants Now Hiring You Deserve a Premier Career With an Elite Group We are setting the Standard of EXCELLENCE and we are looking for Associates not willing to settle for anything less; HIRING ENTHUSIASTIC, selfdisciplined, motivated, forward thinking individuals with entrepreneurial spirit capable of working in high end & large volume capacity. It’s Time to start earning what you’re worth. Always looking for outstanding individuals. Take a Look at our Award Winning Web Site or Contact one of us at: Info@PlatinumElite.com or 702-869-9999
Platinum Elite Group 7475 West Sahara Ave. Suite 100 Las Vegas, Nevada 89117
Phone: 702-869-9999 Fax: 702-317-3424 E-mail: Info@PlatinumElite.com
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ÂÊj{xÇ Uâç|Çz tÇw fxÄÄ|Çz âáx à{x cÄtà|ÇâÅXÄ|àxAvÉÅ gxtÅÊ We are dedicated to providing our clients with the best property, for the best price, while making the buying experience easy. Meet with one of our experienced realty consultants today and let us become your REALTOR® for life!
OUR SPECIALITES
Residential /New Homes
Bank Short Sale Listings
High-Rise Condos
Commercial / Retail / Office
Multi-Family
Property Management
Land
Auctions
Investment Properties
Luxury Homes
Bank Foreclosures / REO
Business Opportunities
Condo Conversions
Condotel Resorts
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Call the professionals at PlatinumElite.com today at 869-9999 to schedule a no cost market analysis of your home’s value. Knowing the value of your home is the first step to achieving your real estate goals!
Setting the Standards for Excellence Always Looking for Outstanding Associates!
PlatinumElite.com offers more real estate services than any other real estate company to ensure that you will sell your home or find the home of your dreams! PlatinumElite.com has proven to be the #1 source for Real Estate success in Las Vegas. Our dedicated group of REALTORS® are all members of the Greater Las Vegas Association of REALTORS® and have developed a prominent reputation for credible relationships with their clients. Our clients then go on to purchase multiple properties, leading to growth in their real estate investment portfolios.
Platinum Elite Group 7475 West Sahara Ave. Suite 100 Las Vegas, Nevada 89117 Phone: 702-869-9999 Fax: 702-317-3424 E-mail: Info@PlatinumElite.com
Luxury Collection B ac k e d b y L e ge nd a ry St r e n gt h The Foundation of the Luxury Collectionsm Division is Berkshire Hathaway — a name respected worldwide. We are the leader in Southwest home sales and ranked among the top real estate companies in North America. You can choose our company with complete assurance.
Arizona & Nevada Properties •
Over $2.5 billion in annual sales with 2,000 associates in 21 offices
•
Worldwide connection through Berkshire Hathaway HomeServices relocation divisions
•
Highest average sales price locally and nationwide
•
Leader in Luxury Real Estate throughout the Southwest
included in Inc. Magazines’ 2013 and 2012 Inc. 500 list of the fastest-growing private companies in America.
2014, 2013, 2012, Report
Honored to have more top teams/agents than any other real estate company in the nation.
Ranked #3 in the Prudential Real Estate Network and in the top 26 of all real estate firms in North America.
Ranked the fastest growing real estate company in NV and AZ and the 3rd fastest growing company in the nation. Together sold more listings at a higher value than any other real estate company in the Valley. Voted Best Place to Work! Our Sales Executives and Staff focus on quality, integrity and expertise bringing an incredible level of customer service to our clients!
Luxury Collection Your I n t er na t i o na l M a r k e t L eader Real Estate Done On A Global Scale: By utilizing the strength and valuable resources of one of the world’s most respected brands, we bring operational excellence and innovation as a compelling value for our customers. With a clear vision as one of the most highly valued real estate companies in the market, our powerful network of brands exemplify the reputation of Berkshire Hathaway — among Fortune’s 2013 most admired companies. As one of the top firms in North America, backed by Warren Buffett — the world’s most successful investor — the company is a leader in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal. Together this powerhouse firm creates an international network of approximately 80,000 real estate agents and 2,800 real estate brokerage locations. The company’s U.S.-based Global Relocation Services is the #2 player in global relocation. With more than one-third of Fortune 100 companies as clients, our Relocation network moves nearly 85,000 families in and out of over 125 countries around the world each year. A member of the over 200 billion-dollar Berkshire Hathaway Family, one of the most stable companies in the world employing over 300,000 people globally among its family of companies. Berkshire Hathaway HomeServices operates in nine countries; the U.S. under Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living; Canada under the leading Real Estate Companies, Royal LePage and the luxury Via Capitale, as well as Brazil, U.K., France, Singapore, China and India. It is the only company with such reach, reputation and resources in the Real Estate Industry.
“
Berkshire Hathaway is built to be forever...it’s true of all the businesses we own. — Warren Buffett, Chairman and
”
CEO of Berkshire Hathaway
Sought- Af t er Exper tise Our agents are well-known for their superb skills and finely-tuned awareness of the changing luxury market. They do vast amounts of business in Arizona and Nevada’s most exclusive communities and have forged strong relationships within the high-end real estate market. They draw on those inside connections every day to bring buyers and sellers of exceptional real estate together.
Luxury Collection Le v er age I ns i d e C o nne c t ion s
Well-established connections are essential in successfully marketing a luxury property. We maintain updated contact lists of active luxury agents throughout the southwest, across the country and around the world, and work with them to locate qualified buyers, wherever they may be.
Our lists include: •
Top luxury agents from other firms nationwide
•
Berkshire Hathaway Luxury Collectionsm Specialists worldwide
•
International brokers serving high-end markets
•
Local Luxury Properties Specialists
•
High net-worth individuals in key feeder markets across the country
•
Contacts from Berkshire Hathaway HomeService’s worldwide financial and relocation divisions
Wor ldwide ne w s s t and locations including: North America
Middle East
United States Canada Caribbean Mexico
Dubai Israel Saudi Arabia
Europe South America Brazil Colombia Ecuador
Asia China Hong Kong India Indonesia Japan Korea Singapore Taiwan Thailand
Austria England France Germany Greece Italy Spain Sweden Switzerland
Australia
Luxury Collection Your Buyer May Be On The Other Side Of The World.
Our agents know what speaks to affluent buyers — and how to create a custom marketing plan for your property that captures their interest. This sophisticated multimedia approach features a mix of Internet and print marketing including online home tours, elegant custom websites and impressive full-color marketing pieces. To find your buyers, we can advertise your property in the Berkshire Hathaway HomeServices Luxury Collectionsm Magazine, the Robb Report Exceptional Properties Magazine, duPont Registry and many national and international publications. The combined print and digital distribution of these magazines puts your home in front of over 125,000 upper-tier buyers in 70 countries.
K e y countr ies v isiting our w ebsit es United States Canada China Philippines India United Kingdom Australia Egypt France Netherlands Germany Italy Mexico Brazil Russian Federation Hong Kong Total visiting countries: 125
Luxury Collection Glo ba l C o nne c t i o ns
To bring your property to the attention of international buyers, our firm maintains relationships with a collection of the finest luxury real estate brokers in the world.
The Luxury Collectionsm is the luxury marketing program of Berkshire Hathaway HomeServices. Through high-end local, national, and international marketing activities, they have grown into a global powerhouse. With our heritage, our resources and personalized customer service, we are the leader in serving the real estate needs of affluent clientele.
Internet Maximized Luxury home buyers will also be able to view your property on hundreds of other key real estate destinations including: • • • • • • • • • • • • • • • •
BHHSNV.com BHHSAZ.com BerkshireHathawayhs.com Trulia.com Homes.com RealtyTrac.com Zillow.com GoogleMaps.com Oodle.com Yahoo.com Realtor.com HomeFinder.com Frontdoor.com LVRJ.com LasVegasSun.com LATimes.com
And Many More...
Luxury Collection S w ee p i ng O nl i ne Ex p o s u r e
The vast majority of home buyers start their search on the Internet. Our proven strategy is designed to get your home in front of the largest online audience of affluent buyers. With showcased listings on Trulia.com/Zillow.com, some of the industry’s leading real estate search engines, eBlast flyers to top local and National REALTORS®, mobile-friendly websites and premier positioning in our digital Full Inventory Buyer’s Guide — we have the market covered.
The Arizona
Homes
For Sale
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Featured Group - 480.502. ion The Ray e informat XX for mor See Page
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Ne vada The Las Vegas Valley is like few places on Earth. Here you can choose to live in the luxurious and exciting energy of The Strip or the more relaxed upscale atmosphere of Henderson, Summerlin and other surrounding cities. With Lake Mead and Mt. Charleston just a few minutes away you can luxuriate in a beautiful day of skiing or boating and be home in time to experience Las Vegas’ extravagant entertainment and night life. With magnificent award winning golf courses— both private and public, sumptuous world class dining, stunning productions, plays and the symphony you will never be left wanting. Revel in one of the most unique shopping experiences in the world. High-end department stores and exclusive boutiques offer the latest international fashions and service beyond compare. With a 24 hour lifestyle, night or day you can live, work and play in one of the most amazing settings in the world.
Luxury Collection P rov e n R e s u lt s — Ne va d a With a pedigree like no other our Luxury specialists have the knowledge, experience and international networks to ensure your distinctive property is placed in front of affluent buyers from around the world who are looking in the southwest market.
Summerlin Village
Listed $15,900,000
Las Vegas
Lake Las Vegas
Sold $7,425,000
Las Vegas
Las Vegas
Sold $6,500,000
Summerlin Village
Sold $14,900,000
Tournament Hills
Listed $7,299,000 Queensridge
Listed $6,499,000
Southern Highlands
Listed $9,900,000
MacDonald Ranch
Listed $8,750,000
Listed $6,600,00
Tournament Hills
Sold $6,500,000
Sold $5,959,000
Queensridge
Listed $5,500,000
Southwest Homes of Distinction
©
2014 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. EQUAL HOUSING OPPORTUNITY
Earn iends Rew & ard s!
r Fr Refe r Fa mily o
How? You Ask….
Our Referral Program allows you to earn Rewards and | or other promotional items such as gift cards to your favorite restaurant, store, & much more! Current Rental Residents have the option to trade rewards for rent credits. Just refer a friend or family member and receive the promotion of your choice . To qualify complete the following & return it with your Referral Please either contact us at
Rentals@PlatinumElite.com or 702-869-9999! Referrals: Do you know of anyone who is interested in purchasing, selling, or renting? Yes Referral One: Buyer
Seller
Renter
Landlord
Name:
Phone:
Address:
Email Address: City:
Referral Two: Buyer
Seller
Name:
No
State:
Zip:
Renter Landlord (Note: Information must be verifiable at time of Referral) Phone:
Email Address:
Address:
City:
Referring Party (Your Name):
State: Number:
What is your Favorite: Restaurants:
Stores:
Clubs/Organizations:
Entertainment/Hobbies/Interests:
Zip: Date:
Movies:
“Always Remember, we are never to busy to help you or any personal referral from good people like you! Thank you in advance for all your Business and Referrals!”
When Buying and Selling Always Use The Platinum Elite Group!
Direct: 702-869-9999 Email: Info@PlatinumElite.com www.PlatinumElite.com Berkshire Hathaway Home Services Nevada Properties, REALTORS速 7475 W. Sahara Suite #100 Las Vegas, NV 89117 5000-0000-NA
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O W E R
The Knowledge Resource FOR
First-Time Home Buyers Your Agent Is the Best Guide Save Time, Money, and Frustration The Keys to Homeownership Unlock the American Dream Is Buying the Right Choice? Advantages of Owning a Home Tired of Renting? Need Tax Deductions? What a Difference a Deduction Makes Build Equity Money in Your Pocket Before You Start Looking for a Home... Define Your Lifestyle Home Buying One Step at a Time How Much Home Can You Afford? Your Loan Consultant Can Help You
T H E
K N O W L E D G E
R E S O U R C E
P R E S S
Your Agent Is the Best Guide Working with a real estate professional can save you endless amounts of time, money and frustration.
Checklist Here’s a list of what you can expect from your agent:
■ ■ Your agent should understand your price range and type of house you are interested in before he or she starts showing you houses. ■ ■ Your agent can provide you with the facts you need to make your own purchase decisions. ■ ■ Your agent can act as a knowledgeable representative when you make an offer and negotiate the price. ■ ■ Your agent should be able to advise you on obtaining financing for your home.
2
A good agent knows the housing market inside and out and will help you avoid a wild goose chase. He or she can help you purchase a home whether it is his or her own listing or listed by another agent or is being sold by the owner directly. Your agent may be aware of homes that are available through sources that you wouldn’t be able to find on your own. These professionals also know home prices and can advise you on the value of specific homes. Most importantly, a real estate professional will guide you through the complex process of buying a home. The maze of financial options, legal documents, disclosure requirements, inspections and a host of other details are simplified by the use of an experienced specialist. In addition, agents are often your best source for general information about a community; specific information about schools, churches, stores; and tips on house inspectors and comparable prices. Perhaps you’re wondering how much an agent is going to charge you for all this help. Well, the good news is that normally it won’t cost you a cent. Agents receive payment by a commission that the seller pays. However, that doesn’t affect the dedication or the spirit of teamwork that your agent will put into helping you find and buy the home of your dreams. After all, his or her success depends on your success.
How to find your new home faster. Be specific. • Tell your agent what you can afford. • Let your agent know exactly what you’re looking for in a house. • Be as specific as possible at all times with your agent so that he or she can better serve your needs.
The Keys
To Homeownership
Welcome to First-Time Home Buyers – The Most Comprehensive Guide for Beginners. Inside you'll find the basic information that will help you begin the home-buying process:
Before you start looking for a home • What kind of home do you want? Need? • What can you afford? • How do you apply for a home loan and when? • Do you have mortgage approval? • Do you understand mortgage options?
You’re ready to start looking • How to look for a home • Home buyer’s checklist • How to find a good agent
Now that you’ve found your home • Making an offer • The home inspection • Homeowner’s insurance • What are closing costs? • The closing • Keeping your paperwork organized • Glossary of mortgage terms • Common real estate terms
3
Is Buying the Right Choice? Advantages of Owning a Home
In spite of the risks and responsibilities, millions of people enjoy the rewards of homeownership. There are many reasons to take this significant step.
A home is a sound long-term investment. When you carefully choose a home you can afford, the potential payoff is great. Each month when you pay your mortgage, you’re building equity by reducing the amount that you owe your lender. The longer you stay in your house, the more equity you will have. Unlike most things you buy, a home will generally increase in value as time passes, building more equity. Remember, however, there is no guarantee that your home’s value will appreciate.
Homeownership offers great tax advantages. Mortgage interest and real estate taxes are usually tax deductible. This allows you to subtract part of your housing-related expenses from your income, which could reduce your tax bill significantly.
A first home often leads to a better second home. As you build up equity in your current home, it is usually easier to move up to an even nicer home in the future.
You are better able to plan your housing costs. Rent increases are unpredictable and usually beyond your control. One thing is certain: over time, rent will increase, while the cost of homeownership is much more predictable.
You gain the satisfaction and security of ownership. You can decorate and improve your home according to your own needs and desires. Owning a home may give you a new sense of pride in your surroundings and encourage you and your family to plant deeper roots in your community.
4
Rent vs.Own TAX QUESTION
Tired of Renting? Need Tax Deductions? RENT VS. OWN How the Mortgage Interest Deduction Helps Homeowners
! w o N y u B What a difference a deduction makes Is the federal income tax mortgage interest deduction really a useful tool by which the government can promote homeownership? Home buyers, particularly those on the verge of making the transition from renting to owning, but also those in the trade-up market, frequently seek information about how the mortgage deduction actually works. The chart presented here clearly indicates what a big difference the deduction makes. The chart is for general illustration purposes because individual circumstances vary.
John and Jane have a combined income of $50,000 a year. They purchased a home in January, 1992, for $150,000, putting 10% down and financing the remaining $135,000 with a 30-year, 9% mortgage. Their monthly principal and interest payments amount to $1,086 a month. Here’s how tax deductions will save them cash in the first year and in years to come. (Figures are for illustration only. Your figures may differ.)
Income Itemized Deductions State Income Tax Other Taxes - DMV Contributions & Other Interest Payments Points (2) Real Estate Taxes Total Itemized Deductions Deduction Used (standard or itemized) Exemptions (2) Taxable Income Federal Income Taxes Tax Savings:
As Renters $50,000
As Buyers $50,000
1,500 300 500
2,300
700 300 500 12,110 2,700 1,800 18,110
6,000 4,600 39,400 6,378
18,110 4,600 27,290 4,091
Federal State
2,287 800 3,087 250 2,600
Total Tax Savings: First Year First Year - Monthly Annual (after 1st year)
5
The Rent You Pay ...
Could Build Equity in Your Own Real Estate
Per Month
10 Years
15 Years
20 Years
25 Years
30 Years
$300
$61,453
$124,341
$227,811
$398,050
$678,146
350
71,696
145,065
265,779
464,392
797,171
400
81,398
165,788
303,748
530,733
904,195
450
92,180
186,511
341,116
597,075
1,017,220
500
102,422
207,235
379,684
663,417
1,130,244
550
112,665
227,959
417,652
729,758
1,243,268
600
122,907
248,682
455,621
798,100
1,356,293
650
133,149
269,405
493,590
862,442
1,469,317
700
143,391
290,129
531,558
928,783
1,582,341
750
153,634
310,853
569,527
995,125
1,695,366
800
163,576
331,576
607,495
1,061,467
1,808,390
850
174,118
352,280
645,464
1,127,808
1,921,415
900
184,360
373,023
683,432
1,194,150
2,034,439
1000
194,603
393,766
759,369
1,326,833
2,260,488
Do you realize how much you pay in rent over a period of years? In addition to the monthly payment, you should figure in the amount you would have accumulated had you invested your payments and earned 10 percent interest. This gives you a total picture of what is happening to your money. The rent you pay adds up to a sizeable sum. Using this chart, find your per month rental payment to discover how much money you are “giving away� in rent and interest over 10, 15, 20 or 30 years ... money which could be used to build equity in your own real estate!
6
Before you start looking for a home... What kind of home do you want? Need? Before you get out there and start looking at houses, it's a good idea to determine not only what you want in a house but also, more importantly, what you need. It focuses your house-hunting and saves valuable time trudging through houses you wouldn’t dream of living in. You can use the worksheet on the next page to list your wants and needs, but first, here are some things to think about as you set your priorities:
before you have children, proximity to schools may not be an issue, but resale value probably will be. On the other hand, if you plan on staying for ten years or more and having a family, schools and square footage will be priorities.
What don't you like about where you're currently living? Making a list of what you definitely do not want in a home will help you weed out houses without having to waste your valuable time looking at them.
Where do you want to live? Close to where you work? Close to your extended family, or as far from them as possible? Do you need schools? How important is it to be close to shopping, hospitals, entertainment, community amenities, and how about traffic? Looking for a house really starts with looking for a neighborhood. Deciding where you want to live will save you a lot of time as well as miles on your odometer, and is key to narrowing your search.
How long do you expect to live in your first house? For instance, if you plan on living in your first home for only a few years and intend to move
It may seem obvious, but take a good look at your lifestyle. Do you entertain a lot? Then you'll want a home that lends itself to that. Do you work from home? You'll need a home with a place to create an office. Are you a gardener? Then lot size is a priority. Keep these things in mind as you make your list of wants and needs. Remember, your list should be flexible in case you can't find a home in your price range with all the amenities you want. It's a good idea to put the list in order of importance. For instance, an eat-in kitchen may be more important to you than a fireplace.
7
Home Buying: One Step at a Time
1. 2. 3. 4. 5.
Select an agent and establish a relationship I am a full-time, professional agent with extensive market knowledge. We will work closely together to find the right home for you.
Initial consultation with your agent to evaluate your needs and resources Once I determine your needs, I will help you evaluate financial institutions and loan programs in order to make a wise choice. We will meet to discuss your needs and analyze your resources.
Identify property to buy I will show you homes based upon the criteria that we establish. The more precise and direct you are, the more successful our search will be.
Determine Seller’s motivation Once you have found the home that you wish to purchase, I will do the necessary research to help you structure an effective offer.
Write offer to purchase I will draft the Purchase Agreement for you, advising you on protective contingencies, customary practices, and local regulations. At this time, you will need to provide an “earnest money” deposit, usually from 1 to 3% of the purchase price (the deposit is not cashed until your offer has been accepted by the Seller).
A tip from me: Arrange for movers now. I will offer suggestions so you can shop for the best price. 8
Home Buying: One Step at a Time
6.
Offer Presentation
7. 8.
Seller’s Response
9.
Contingency Period
10. 11. 12.
Homeowner’s Insurance
I will present your offer to the Seller and the Seller’s agent. The Seller has three options: he or she can accept your offer, counter your offer, or reject your offer. My personal knowledge of your needs and qualifications will enable me to represent you in the best way possible.
I will review the Seller’s response with you. My negotiating skills and knowledge will benefit you in reaching a final agreement.
Open Escrow When the Purchase Agreement is accepted and signed by all parties, I will open escrow for you. At this time your earnest money will be deposited. The escrow company will receive, hold and disburse all funds associated with your transaction.
This is the time allowed per your Purchase Agreement to obtain financing, perform inspections, and satisfy any other contingencies to which your purchase is subject. Typical contingencies include: • Approval of the Seller’s Disclosure Statement • Approval of the Preliminary Report from the Title Company • Loan approval, including an appraisal of the property • Pest inspection and certification
I will coordinate between your Insurance Agent and the Escrow Officer to make sure your policy is in effect at the close of escrow.
Down Payment Funds You will need a Cashier’s Check or money transfer several days prior to the closing date of escrow.
Close Escrow When all of the conditions of the Purchase Agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs in escrow and your lender will deposit the balance of the purchase price. The Deed will then be recorded at the County Recorder’s office and you will take ownership of your home.
9
House Hunting
Priorities Worksheet APPROXIMATE PRICE RANGE: Minimum:
Maximum:
Minimum Number of Bedrooms: Minimum Number of Baths: Minimum Square Footage of Home: GENERAL HOME FEATURES: ❏ Newer Home (0-5 yrs)
❏ Older Home (75+ yrs)
❏ Single Story
❏ Two ore More Stories
❏ Cabin Style INTERIOR FEATURES: ❏ Central Air
❏ Fireplace
❏ Bedroom on 1st Floor
❏ Bathroom on 1st Floor
❏ Family Room
❏ Breakfast Area
❏ Recreation Room
❏ Great Room
❏ Library/Study
❏ In-Law/Guest Suite
❏ Laundry Room
❏ Basement
❏ Finished Basement EXTERIOR FEATURES: ❏ Swimming Pool
❏ Spa
❏ Tennis Court
❏ Patio or Deck
❏ 2 or More Car Garage
❏ Irrigation System
❏ Attached Parking Facilities
❏ Mature Planting
LOT FEATURES: ❏ 1/2 or More Acres ❏ 2 or More Acres ❏ 10 or More Acres ❏ Waterfront Property
❏ 1 or More Acres ❏ 5 or more Acres ❏ 20 or More Acres ❏ Fenced Yard
COMMUNITY AMENITIES: ❏ Swimming Pool ❏ Security Features
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❏ Clubhouse ❏ Hospitals
How much home can you afford? Few things are more frustrating than falling in love with a house only to discover it's not affordable. How do you know what you can afford? By knowing how much money you qualify to borrow. Use the following worksheet and your calculators to determine your price range. Your loan consultant, however, will help determine exactly how much you can qualify for, but there are two things you'll want to consider before applying with a lender.
How's Your Credit? Check your credit report. It contains your credit score, which is vital for qualifying for a loan. Order your credit report from the three major credit bureaus, check them carefully for discrepancies and errors and have each bureau clear them from your report.
Monthly Payment. Calculate how much of a monthly payment you're comfortable paying. You may qualify for a loan amount that would require a higher monthly payment than you'd like to pay. Sit down and figure out your monthly expenses in a new home. Remember that with homeownership you will incur financial responsibilities such as maintenance, improvements, taxes, insurance and possibly association fees.
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Home Affordability Worksheet It’s important to determine things like your monthly payment, how much you can afford to borrow, how much house you can afford to buy and much more. Here's the type of information you'll need to have on hand.
LOAN TYPE YOU’RE CONSIDERING Down Payment Mortgage Term (in years) Monthly Payment Desired MONTHLY INCOME Wages Before Taxes or Deductions Investment Income Before Taxes Other Income EXISTING MONTHLY PAYMENTS Auto Loans Student Loans Credit Cards and Other Loans OTHER MONTHLY DEBT Alimony Child Support TAXES & INSURANCE YOU EXPECT Yearly Property Tax Yearly Property Insurance
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The Knowledge Resource FOR
Finding The Perfect Real Estate Agent F O R S E L L E R S : Finding the Perfect Agent … Your Agent Does Your Agent Really Work for You? Agents Must Now Disclose Agent Interviews Good Questions Who’s Involved? Sellers’ Helpers F O R B U Y E R S : What Type of Buyer Are You? Your Profile Open Houses Good Way to Start Agent Interviews Good Questions New Home Wish List Maybe You Can Have It All! Who’s Involved? Buyers’ Helpers F O R S E L L E Moving Checklist Start Packing
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Finding the Perfect Real Estate Agent...Your Agent The tried-and-true way to find a real estate agent is to ask friends and relatives for a referral of someone they know or have used successfully and would use again if the need arose. The way to find the perfect agent is to interview the referred agents and then select the one that best fits your needs. You will want to determine certain important facts: • How well does the agent know the local real estate market? • What is his or her track record compared to local statistics? • Does this person have good negotiating skills? • Does this person have a good reputation within the industry? Finding the right agent is essential to making your home-selling experience a positive one. You’re about to embark on a journey that will require preparations, decisions, time and patience. Your relationship with the agent you select will help keep your stress level under control and ultimately be responsible for the financial outcome of your transaction. Define your objectives before starting and communicate these clearly to your agent. Knowing what is most important to you will help him or her strategize to help you meet your goals: • What are your main objectives? • Is speed most important? • Or is it the highest price? • Do you want the agent to report daily activities? • Or only significant activity? • Do you prefer an aggressive approach? • Do you want the agent or support staff to be available 24/7? Knowing your requirements before interviewing will assure you of making the best choice. Find out as much as you can about each agent from the party who made the referral. Speak with each in person or on the phone and ask the questions supplied in the “interview” section of this guide. Before making your final decision you should meet face to face with the agents you are seriously considering. Knowing what is important to you will help you find your perfect agent. Time invested upfront will prevent frustration later.
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Does the Real Estate Agent Work for the Buyer or the Seller? While this does not pose as much of a problem for sellers since it is clear that the listing agent is working for them, disclosure is now required by state law. Real estate agents are required to disclose who they are working for, the buyers or the sellers or both. In most cases, before being shown property or discussing financial ability to purchase or lease property, clients will be presented with a form, the Agency Disclosure Statement, indicating whom the agent will represent in the transaction. Although you will be asked to sign this form, acknowledging that it was given to you, it is not a contract and does not obligate you to work with the agent — it simply serves as a consumer disclosure form to protect your interests. In the past, buyers assumed that the agent showing properties to them was representing them. The agent would call them to inform them of new listings, would write up offers to purchase and give them information about financing and other related issues. Buyers would feel free to give them confidential or strategic information without knowing that the agent would pass this information on to the sellers, sometimes placing them at a disadvantage in the transaction. In some cases, you may also be given another form, the Dual Agency Disclosure Statement. You may be asked to sign this form to indicate that you have been informed that the agent will be representing you as the buyer, as well as representing the seller. Continued on page 4
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Does the Real Estate Agent Work for the Buyer or the Seller? Continued from page 3
All other reasons aside, this is most important, from a strategic perspective:
Seller’s Agent • Seller’s agent works for the real estate company hired by the seller to sell their property. • In Multiple Listings, all agents are sub-agents of the listing agent and represent the seller. • Confidential information should not be given to a seller’s agent. • Even after a seller’s agent has disclosed his or her agent status, confidential or strategic information should not be given. • The disclosure statement is not a contract, only a disclosure.
Buyer’s Agent • Buyer’s agent works for buyer only. You may be asked to sign an exclusive agreement with that agent, for a pre-determined period of time. • The period of time can be any you both agree on, even as little as one day. • Signing an agreement does not obligate you to pay the agent a fee (unless clearly stated and agreed to); real estate agents are usually paid a commission from the sale. • You will be required to pay the agent a fee if you purchase a “For Sale By Owner” home during the period of time you are under contract to the agent. • When a buyer's agent shows a listing held by the agent’s own real estate firm, he or she has responsibilities to both parties. Since the seller pays the commission, the agent’s loyalties are split. • When the agent’s loyalties are clearly split, the Dual Agency Disclosure must be presented to buyer and seller in advance and both must agree. • Buyers would be wise to work with a buyer’s agent to ensure that their goals are met in an unbiased manner.
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Interviewing the Agent (Sellers) Here are questions that will help you narrow the list of candidates: • Are you a full-time or part-time real estate agent? • How many years have you been in the real estate business? • Is your license in good standing? • How many homes have you sold in your career? • How many homes have you sold in my area last year? …this year? • How does that number of sales compare to the statistics of the National Association of REALTORS®? • What is your educational background? • Do you offer any guarantees? What are they? • May I call some of your past clients? • What kind of experience and training do you have in negotiating? • Can we get out of the listing without a hassle if we’re not pleased with your services? (Ask if a clause to that effect can be written into your agreement.) Continued on Page 6
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Interviewing the Agent (Sellers) Continued from Page 5
• Will you design a written marketing plan specifically for our property? • Where does your company rank among other companies in the area? • Are you a member of the NATIONAL ASSOCIATION OF REALTORS®? Are you a member of the local Board of REALTORS®? • Are you a member of the MLS? • Does your company have a widely-recognized logo that will call more attention to our home? • How often will you be in touch with us from the time we hire you until escrow closes? • Do you personally or does your company spend money on advertising? • Specifically what type of advertising will you use to sell our home? • If you’re not personally available, what support do you have in place to take care of my needs? • What do you do, if anything, to help prepare our home for sale? • Do you market within as well as outside the real estate profession? • Will you invest time marketing specifically to homeowners in this area to find out if they know someone who would like to live in this neighborhood? • Will you hold Open Houses? How effective are your Open House strategies? • Will you do Direct Mailings about my property? How many? How often? • Will you personally handle all contract negotiations? • What commission rate do you charge? • Will your rate be lower if you sell my house yourself as well as list it? • In the current market, at what price do you think our home will sell? • Will you prepare a comparative market analysis for our home?
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Who’s Involved in the Seller’s Transaction? • Advertising Agency and/or Newspapers/Magazines • Appraiser • Legal Advisor • Contractor (if repairs needed) • Buyer's Mortgage Company • Buyer's Loan Officer • Lending Underwriter • Loan Processor • Title Company Representative • Title Processor • Attorney (in some cases) • Current Mortgage Holder • Moving Company • Utility Company • Termite Inspector • Land Titles Office Representative • Septic/Sewer Inspection • Structural Engineer (in some cases)
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What Type of Buyer Are You? Your first steps toward buying a home can be daunting. However, by following some the guidelines we offer, you will soon be ready to move forward with your plans, secure in the knowledge that you have done your homework to assure a positive outcome. Armed with a clear vision of who you are as a buyer, you should soon be moving into your new home.
You will be able to assist your agent in finding your dream home at a price you are prepared for by clearly communicating: • Price range? • First-time or repeat buyer? • Current mortgage status if repeat buyer? • Estimated available down payment? • When will you be ready to buy? • Is your new home purchase contingent on selling your existing home? • Are you pre-qualified by a lender?
A home is one of the largest purchases most of us will ever make. Just as real estate agents are always telling us about “location, location, location” when it comes to deciding which home to buy, there’s nothing like “preparation, preparation, preparation.” Before embarking on your search, take the time to create a realistic family-friendly budget and establish with your lender just how much house you can really afford. In our “wish list” section, we’ve listed many features; select the ones that you must have, the ones that you want but could live without; then start cutting if your budget won’t stretch for all the desired features. Once you are pre-qualified by your lender, begin your search. With a clear understanding of your requirements and priorities, your search for your new home should be pleasant, satisfying and short. This process can be very time consuming. Take care to schedule house-hunting appointments around your other activities to avoid frustration and stress.
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Should You Attend Open Houses? As we said earlier, beginning the process of searching for a new home can be intimidating. Attending advertised open houses may be an easier way to ease into your search. These are held every weekend and are listed in your local newspapers. Appointments are not required. Attending open houses can be a great way to see many properties in a few weeks. It will give you an idea of prices in the neighborhoods you are interested in without the pressure of making a commitment to an agent. Since not all properties are shown through open houses, realize that you will miss many that are shown by appointment only. Be selective in this process. It’s easy to get caught up in the excitement of house hunting, but attending too many open houses can lead to burnout, confusion and disappointment, especially if you’re looking out of your price range. Also, consider getting pre-approved for a mortgage before looking so that you will know what price range to concentrate on. At this point, we’re assuming that you haven’t yet selected an agent, but once you do, always be upfront with the agent conducting the open house about this relationship. Doing so will prevent misunderstandings about commissions if you should end up buying the house.
Remember, you will be a guest in someone’s home: • Come at the specified time, not earlier and not later. • Please register and present identification, if asked. Real estate agents work alone sometimes and need to be cautious. • Get a copy of the multiple listing sheet or flyer if you're interested in a particular property. It’s difficult to Continued on Page 10
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Should You Attend Open Houses? Continued from Page 9
remember the specifics once you leave and visit a number of other houses. Takes notes if necessary. • Leave children and/or pets with a sitter. It will be easier for you to concentrate on the property and ask relevant questions.
Find out about the neighborhood: • Is this a friendly neighborhood? • Is this a noisy area? (better to know before buying) • Are the streets congested with traffic around during rush hours? • Are the streets safe at night? • Are the schools good? • Are there nearby medical facilities, churches, shopping areas and grocery stores? • What about taxes, local government and law enforcement? • Have plans for new developments, or facilities you might object to, been approved by the planning commission?
You may want to do some further fact-finding on your own: • Drive or walk around the neighborhood at various times of the day or evening. • Make note of the condition of houses and lawns. Peeling paint on houses, dirty windows, trash cans in plain sight, cars on the lawns, overgrown grass and weeds would indicate a poorly kept neighborhood. • Contact the local police department and ask for crime statistics. • Check alleys and public buildings for graffiti that could indicate gang activity. • How much do local schools spend per child? Ask about test scores. • You’ll want to know about local transportation as well as your commute time to work. • What about neighborhood shopping and recreational facilities? • Research recent selling prices for houses in the neighborhood, increase in value in the past 10 years and property tax increases. • Call the water, disposal, gas, cable, phone and electric companies for utility costs.
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Interviewing the Agent (Buyers) • Do you work full-time or part-time as a real estate agent? • How well do you know the specific area(s) I’m interested in? • Will you handle all aspects of my transaction or will your support staff handle most of it? • Will you be accessible when I need you? • Will you give me a comparative market analysis (CMA) of recent sales in the area and homes currently for sale? • Is your license in good standing? • What is your educational background? • Will you use the MLS listings and the Internet to find properties with the features I want, in my price range?
If interviewing for an Exclusive Buyer’s Agent, also ask these questions: • Will you confirm in writing that your firm does not accept listings? • Can you work with me on homes for sale by owner, new construction, and multiple listings? • Can you work with me on both new and existing homes? • Are you familiar with new home developments in the area I’m looking at? • Do you have knowledge of different builders’ reputations in the industry? • Are you a member of local and national REALTOR® associations? • Will we work under a formal exclusive buyer’s contract? • Do you charge a good faith fee and is this fee returned to me at close of escrow since you will be receiving a commission from the sale? If you’re not familiar yet with the concept of a buyer’s agent, not to worry… this trend has only been around since the mid-1980s. Prior to that time, agents could represent both seller and buyer and no one appeared to recognize this as a conflict of interest. Since the seller was paying the agent’s commission, he would consider his or her duty to be to the seller, and would not necessarily be representing the buyer’s best interests. Today, a buyer’s agent works solely for the buyer and represents only the buyer’s best interests. Most states require disclosure as discussed earlier.
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New Home Wish List Try to define as closely as possible the neighborhoods, type of housing and features that you are looking for, and make a list for your real estate agent. The closer you are able to describe your dream home to your agent, the sooner you’ll be living in it. Don’t forget to define your price range, based on discussions with a lender of your choosing. If you feel that you may have some credit issues, you would do well to start working with the lender as soon as possible to resolve these and obtain your loan. Agents usually insist on working with clients who are pre-qualified as this assures the seller that the buyer is serious and able to purchase a home. Being pre-qualified places you in a stronger negotiating position. Here are some ideas. Feel free to delete some of these and add your own:
Type of housing: • Single family dwelling • Condo • Townhouse • Cooperative
Neighborhood (be as specific as possible): • Urban • Suburban • Rural • Gated – Security – Community Pool – Golf – Tennis • Senior Development 55+ • Lakeside • Mountains • Close to Schools, hospitals and shopping
Necessary Features (elaborate where needed): • Number of Bedrooms • Master Bedroom Suite • Number of Bathrooms • Tubs and Separate Showers • Eat-in Kitchen • Refrigerator
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New Home Wish List Necessary Features (elaborate where needed): • Electric range/cooktop • Built-in range/oven • Gas or Electric Range • Self-cleaning Oven • Microwave Oven • Disposal – Trash Compactor • Dishwasher • Family Room • Formal Dining Room • Forced Air/Heat • Garage: Number of Cars • Garage: Attached – Detached • Automatic Garage Door • Lot Size • New House • Maximum Age of House • Approx. Square Footage of House • Number of Floors • Large Backyard • Landscape sprinklers • View • Fireplace • Finished Basement • Pool/Jacuzzi • Patio/Porch • Stucco Exterior • Wood Siding • Brick • Newer roof • Security System • Good freeway access
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Who’s Involved in the Buyer’s Transaction? • Appraiser • Legal Advisor • Contractor (if repairs are needed) • Mortgage Company • Credit Bureau • Lender or Loan Officer • Lending Underwriter • Loan Processor • Title Company Representative • Title Processor • Attorney (in some cases) • Current Mortgage Holder • Moving Company • Utility Company • Termite Inspector • Land Titles Office Representative • Septic/Sewer Inspection • Home Inspector • Structural Engineer (if needed)
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Packing and Moving Making your move as easy as possible and saving you both time and frustration is what this section is all about. Entrusting all your worldly possessions to a moving company and hoping they will deliver them back to you when you want them, where you want them, seems to require a giant leap of faith. Moving has been rated, by some, as the third most highly pressured experience next to going to jail or getting married! Look over the list below and check off each as it’s done. Before you know it, your move will be over and you and your family will be enjoying your new home. • File your change of address with the post office. • Transfer utilities, schedule meter readings: have handy the turn-off date at your current address and turnon at your new address. • Contact moving companies for estimate. • Get moving boxes. • Set moving schedule. • Re-confirm with movers the date and time of their arrival at your home on moving day. • Let your movers know what you expect of them. • Ask movers the extent of packing and readiness expected of you. • Does the moving company have insurance coverage in case of damage? • Is insurance coverage for replacement or fair market value? • Establish termination date for delivery of mail and newspapers. • Send change of address cards to insurance companies, credit card companies, and service providers. • Notify your automobile insurance company of your new address. • Inform your children's school of your move and new address. • Start registering process at your children’s new school. • Obtain medical and dental records if you’ll be changing providers. • Send your bank your change of address or close or transfer your bank account. • Have pilot lights for the stove, water heater and furnace checked at your new home. • After moving, check with Post Office to see if any mail is being held for you. • Change voter registration. • Notify Department of Motor Vehicles of your new address. Enjoy your new home!
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Don Lainer’s Platinum Elite Group Welcome to spectacular living at; Address: City, St, Zip:
UTILITY INFORMATION ELECTRIC
TRASH / DISPOSAL SERVICES
Las Vegas, Henderson, North Las Vegas: NV Energy 6226 W. Sahara Ave, Las Vegas, Nevada 89153 702-367-5555 / 702-402-5000 www.nvenergy.com
Las Vegas & Henderson: Republic Services of Southern Nevada 770 E. Sahara Ave., Las Vegas, Nevada 89104 702-735-5151 www.republicservicesvegas.com North Las Vegas water, sewer, & trash City of North Las Vegas 702-633-1484
GAS Las Vegas, Henderson, North Las Vegas: Southwest Gas Corporation 1374 W. Cheyenne Av. Ste. 107, N. Las Vegas, Nevada 89030 1-877-860-6020 www.swgas.com
WATER Las Vegas Valley Water District 1001 S. Valley View Blvd., Las Vegas, Nevada 89153 702-870-4194 / 702-870-2011 www.lvvwd.com Henderson Water & Sewer: 240 Water St., Henderson, Nevada 89015 702-267-5900 www.cityofhenderson.com North Las Vegas water, sewer, & trash City of North Las Vegas 2200 Civic Center Dr., North Las Vegas, Nevada 89030 702-633-1484 / 702-633-1000 www.cityofnorthlasvegas.com
CABLE | INTERNET | PHONE Las Vegas, Henderson, North Las Vegas: Cox Communications 750 N. Rancho Dr., Las Vegas, Nevada 89106 702-383-4000 or www.cox.com 702-244-7400 / 1-866-304-6820 CenturyLink 330 S. Valley View Blvd., Las Vegas, NV 89106 www.embarq.centurylink.com
US POSTAL INFORMATION General Information 702-361-9212 www.usps.com
EDUCATION Clark County School District 702-799-5011 www.ccsn.nevada.edu University of Nevada, Las Vegas 702-895-3011 Community College of S.Nevada 702-651-4000 University of Phoenix 702-876-5004
SEWER
DEPARTMENT OF MOTOR VEHICLES
Las Vegas Sewer District 5857 E. Flamingo Rd., Las Vegas, Nevada 89122 www.cleanwaterteam.com 702-458-1180 / 702-434-6600 Henderson Water & Sewer: 702-267-5900 www.cityofhenderson.com North Las Vegas water, sewer, & trash City of North Las Vegas 702-633-1484
For information on vehicle registration or obtaining a drivers license, contact the Department of Motor Vehicles at: 8250 W. Flamingo Rd., Las Vegas, Nevada 89147 2701 E. Sahara Ave., Las Vegas, Nevada 89104 7170 N. Decatur Blvd., N. Las Vegas, Nevada 89131 1399 American Pacific Dr., Henderson, Nevada 89074 702-486-4368 / 702-455-4316 www.dmvnv.com
“Always Remember, we are never to busy to help you or any personal referral from good people like you! Thank you in advance for all your Business and Referrals!” 7475 W. Sahara Ave. • Suite 100 • Las Vegas, NV 89117 • Phone: (702) 869-9999 • Fax: (702) 317-3424 RESIDENTIAL • HIGH RISE • OFFICE • MULTI FAMILY • COMMERCIAL • INDUSTRIAL • RETAIL • LAND