Prepared exclusively for RAELEIGH JADE
Buyer’s Presentation Prepared by
SKYLER MUNRO R E A L E S TAT E A DV I S O R Engel & Völkers Vancouver 130 - 1152 Mainland Street | Vancouver, BC | M: 236-996-0564 www.skylermunro.com | info@skylermunro.com
THE ENGEL & VÖLKERS STORY
Experts at your service
Engel & Völkers was founded in 1977. We began as a specialty
opened our first international shop in Majorca, Spain. It marked the
boutique agency providing high-end real estate services to
beginning of our worldwide expansion throughout Europe, Africa,
wealthy European investors in search of assistance from experts
Asia, and North America.
who were highly professional and discreet. We proved our competence and passion early on and quickly earned a reputation
Today, there are approximately 9,000 real estate advisors in
for our unparalleled level of service, highly valued network and
over 30+ countries and with 850 locations spanning through six
strong leadership in the market. Our successes lead to greater
continents. Though the Engel & Völkers firm has grown beyond a
demand for what we offered. With a brand gaining in recognition
small boutique agency, you can still rely on us for the qualities that
and reputation, we established a system that allowed us to expand
remain our keys to success - local market expertise, a highly valued
without sacrificing our higher standards of quality.
network, and an unparalleled level of service quality.
In 1988, we launched our own lifestyle, design and architecture magazine, GG. Through this publication, we define our brand and showcase the premier properties we represent. In 1990, we
ENGEL & VÖLKERS VANCOUVER
Representing the area's best Operating in Vancouver since 2015, Engel & Völkers Vancouver has experienced unmatched success in our market. We have locations in Yaletown (our flagship shop), Kerrisdale, West Vancouver and South Surrey with over 125 Real Estate Advisors that bring an elevated experience to Vancouver and beyond. With a refined brand and innovative team, we’re here not only to buy and sell homes, but to help you discover the fullness of life found in your next move— whether it’s a first home, dream home, or even a castle (we can help with those, too). From Vancouver to Majorca, Boston to Belize, and everywhere in between, our people possess a shared passion for all that we do.
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When considering buying or selling a property, it is essential to work with true market experts who take the time to understand your unique real estate goals.
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Christian Völkers, Founder
Competence • Exclusivity • Passion THE CORE VALUES THAT DEFINE US
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Skyler Munro REAL ESTATE ADVISOR
Skyler is a real estate agent in Vancouver BC. With her unparalleled knowledge of the market, she will provide you with a seamless real estate experience with an emphasis on service, professionalism, and value. She specializes in buying and selling investment property, as well as helping homeowners in the Greater Vancouver Area with their real estate needs. Her knowledge of the market is second to none and she loves nothing more than helping customers find the perfect home or investment opportunity. When it comes to real estate who you work with matters. Skyler uses research and data paired with her industry relationships to get deals done.
A Higher Standard Worldwide 35+ COUNTRIES SPANNING 5 CONTINENTS
Engel & Völkers is one of Europe’s most recognized real
We continue to value the knowledge, service and network
estate brands. We specialize in the sale and leasing of
we use to assist each and every client we serve and to
premium residential property, commercial real estate and
achieve their highest real estate aspirations.
yachts around the globe. We are also a trusted source of real estate market news and trends on a global scale.
Wherever an Engel & Völkers office has opened, whether
Engel & Völkers is part of a culture that appreciates fine
in Europe, Africa, Asia, or in the Americas, the worldwide
living and discerning taste.
recognition of our brand follows. For the homes we represent, including yours, this means greater worldwide
Our reputation among the high-end segment of buyers
exposure enhanced by the confidence of our brand. This
and sellers have given us the ability to become the first
has been the strategy that has enabled us to successfully
real estate company in the world with a specialized
reach qualified international buyers for the homes that we
division dedicated to the sale of historic properties. These
represent.
include classical mansions, castles, palaces and cloisters throughout Europe. While we continue to reach new heights in the super-prime real estate markets we never lose sight of the roots of our success.
Engel & Völkers began providing services more than 30 years ago as a boutique agency known for its highly specialized real estate service to a small but exclusive clientele.
Local and International Expertise PROVIDING WORLD-CLASS SERVICE
Today, as an international brand serving the needs of many thousands of home sellers and buyers around the world, we continue to value our boutique style of business. We will hold our relationship with you closely and give back to the communities we share. We know the unique features of your local towns and neighborhoods because we understand that these offer priceless value that will affect how we market your property. Though we belong to an international network, we are a local shop and all of our advisors are local experts. Many have grown up in the neighborhood and have a network of clients who are also their friends. What they all have in common is the ability to reach buyers and markets locally, nationally and around the world.
The strength of our network OUR COLLABORATIVE APPROACH With Engel & Völkers you have a dedicated team working to achieve your real estate goals. Our expert advisors have specialized knowledge of local market activity and neighborhood trends. They can evaluate your home in the context of ever changing factors that impact both to ensure an effective pricing strategy. Working with Engel & Völkers means you receive the personal service of an advisor who is supported by members of Engel & Völkers North America in New York City as well as representatives of our global headquarters team in Hamburg, Germany. Your advisor will also have access to our exclusive network of Engel & Völkers professionals worldwide. All work in collaboration to execute and deliver marketing campaigns, public relations exposure, social media engagement, and global outreach to attract more buyers for your home. These elements ensure your property is viewed by the highest number of potential buyers.
Steps for Buying a Home
1.
Getting approved for financing Before starting to search for your dream home, it’s important to evaluate your financial situation, establish a budget, understand mortgage options and secure preapproval from your lender. This will help you conduct your search with confidence and negotiate your desired home successfully.
Understanding your financials ESTABLISH YOUR BUDGET
CONFIRM DOWNPAYMENT
As a general guideline, total monthly housing costs for your
If your downpayment amount is less than 20 per cent of the total
primary home, including mortgage payments, taxes, maintenance
purchase price, you will need to purchase mortgage loan insurance
fees, insurance, interest charges and utilities, should not exceed
that guarantees the debt against default. In most cases this will be
32 per cent of your gross monthly household income.
added to the mortgage loan.
Many financial advisors also suggest that total monthly debt,
CHECK YOUR CREDIT RATING
including mortgage payments, credit card and car payments,
Your credit report plays an important role in your mortgage
should not exceed 40 per cent of your gross monthly income.
approval process and in determining the interest rate and other loan terms that a lender offers you. Before meeting with a potential
Those purchasing a real estate investment property should
lender, you may wish to confirm your credit rating so you have time
consult their real estate and financial advisor to understand tax
to resolve any issues.
and financial implications of their purchase.
Steps for Buying a Home
Mortgage Basics INTEREST RATES
AMORTIZATION
Mortgage interest rates are fixed, variable or adjustable.
Amortization is the length of time the entire mort-gage debt will be
Fixed: A fixed mortgage interest rate is a locked-in rate that will not change for the term of the mortgage. Variable: A variable rate fluctuates pending market conditions while the mortgage payment itself re-mains unchanged. Adjustable Mortgage Interest Rate: With an adjustable rate, both the interest rate and the mortgage payment change based on market conditions.
repaid. Many mortgages are amor-tized over 25 years, but longer periods are available. The longer the amortization, the lower your scheduled mortgage payments, but the more interest you pay in the long run.
CONVENTIONAL MORTGAGE VS. HIGH RATIO MORTGAGE Conventional Mortgage: A conventional mortgage is a mortgage loan that is equal to, or less than, 80% of the lending value of the
OPEN OR CLOSED MORTGAGE Closed Mortgage: A closed mortgage cannot be paid off, in whole or in part, before the end of its term. A closed mortgage is a goo option if you’d prefer a fixed monthly payment and wish to predict your month-ly expenses. However, because there are often penalties or restrictive conditions if you pay an additional amount, a closed mortgage may be a poor choice if you decide to move before the end of the term or if a decrease in interest rates is anticipated. Open Mortgage: An open mortgage is flexible. You can typically pay off part of it or the entire amount at any time without penalty. This may be a good option if you plan to sell your home in the near future or if you intend to off a large sum of your mortgage loan. Most lenders allow open mortgages to be converted to closed mortgages at any time, though often for a small fee.
Steps for Buying a Home
property. The lending value is the property’s purchase price or market value —whichever is less. For a conventional mortgage, the down payment is at least 20% of the purchase price or market value. High-ratio Mortgage: If your down payment is less than 20% of the home price, you will typically need a high-ratio mortgage. A highratio mortgage usually requires mortgage loan insurance. CMHC is a major provider of mortgage loan insurance. Your lender may add the mortgage loan insurance premium to your mortgage or ask you to pay it in full upon closing.
MORTGAGE TERM The term is the length of time that the mortgage contract conditions, including interest rate, are fixed. The term can be from six months up to ten years. There are generally several term options for a mortgage and it’s important to weigh the benefits and costs of each. A longer term (five years, for example) may allow you to plan ahead and protect you from interest rate increases, but may not offer you flexibility, should interest rates fall.
OPTIMIZING YOUR MORTGAGE Work with your lender to optimize your mortgage payment schedule for your unique situation. Many primary homeowners aim to pay off their mortgages as quickly as possible, which can be achieved with more frequent installments. Your mortgage may also be structured to allow an increase in payments as cash flow permits, and there may be anniversary lump sum payment opportunities each year to be applied directly to the principal. If you are purchasing real estate solely for investment purposes, other considerations such as tax implications come into play. Consult your real estate and financial advisor for assistance.
GET WRITTEN PRE-APPROVAL In markets where there is high demand and a low volume of the type of home you wish to purchase, written pre-approval is essential and will give you the competitive edge in securing your desired home. For example, in a scenario where a seller receives two similar offers, one accompanied by a letter that confirms financing pre- approval, and another other without supporting documents, the former offer is frequently considered first.
2.
Establishing your budget When meeting with me it’s important to clarify your budget, personal property preferences, and any anticipated life stage and lifestyle requirements that may impact the purchase of your home.
Wants, needs and financials Get clear on your goals for your home, your needs in terms of amenities, location and other key factors. Its important that you understand the budget you have to work with. Start by considering what neighbourhood best suits you and what type of home you want. Would you love to live in a condo, a townhouse or house? What’s within your budget in your desired neighbourhood? You’ll also want to consider if you want a new property or re-sale as that will impact the price.
This crucial first step sets a course for you, our advisor, our brokerage and our brand to work together to buy home in a stress-free manner.
Steps for Buying a Home
3.
Working with an E&V advisor Your Engel & Völkers advisor will tend to every need throughout the home buying process to ensure a worry-free
experience for you. You can expect insight and information from a market expert, proactive communication and ongoing consultation. The professionals at Engel & Völkers have committed themselves to a clearly defined goal: To make your real estate transactions smooth and worry free putting the client first. Using our broad range of expertise and the specialized training received at our company-owned academy, we dedicate ourselves to this goal and perform with total passion.
CONCIERGE SERVICE THROUGHOUT
Our advisors deliver peace of mind The best real estate agents help their clients buy and sell homes. Engel & Völkers advisors do more. They will offer you guidance and insight in ways not every agent can. In fact, we designate our agents as “Advisors”, to better define the higher level of service they provide. Engel & Völkers maintains consistently high levels of service experience throughout the world by managing performance at every level. We are highly selective of the agents who join us. We approach top performers with proven track records and real estate professionals who are well re-spected within the community. A deep understanding of client service is essential. Our advisors start out great and always strive to be better. First and foremost, they are the experts. They can recommend restaurants, movie theaters, financial insti-tutions, popular tourist attractions and cultural events. Most importantly, they can talk about the real estate market and where your home is in the bigger picture. Being experts, our advisors provide more than facts. They will provide you with valuable insight that is relevant to your personalized needs and see to every detail throughout the process so you won’t have to worry.
Steps for Buying a Home
4.
Starting the home search It’s time to start the search for a new home, but you may be wondering what comes first? Should you be
furiously googling looking for properties? Driving around seeking for sale signs? As your Real Estate Advisors, it’s our role to make the search for your new home as simple as possible. We normally start out with a simple questionnaire and then take a series of 5 steps to ensure a successful home search.
STARTING THE HOME SEARCH
Buyer Questionnaire Which areas are you interested in? Do you prefer certain location? Are you looking for an apartment, a house, a farm, etc.? Do you want to move in yourself? How many people will live in the property? How much living space and how much utility space should the property have? Do you wish to use the property for commercial as well as for living purposes? How many rooms do you need? How many bedrooms and how many bathrooms do you require?What features are most important to you? Which of these features could be considered optional? Can we offer you properties that slightly deviate from your desired location? Have you set yourself a price limit? How long have you been searching for a suitable property? What properties have you already viewed, and in which locations? What are the reasons, why you have not yet been successful in your search? By what date would you like to move in your new property? By what date would you like to move in your new property? Would you like to purchase on a certain date, for tax reasons? Can we be of assistance in selling your present property? Can we offer you any of our other services?
Steps for Buying a Home
STARTING THE HOME SEARCH
Steps to ensure a successful search
Automatic Property Updates We have the inside scoop on the newest properties, and we will set up a query on the MLS which outlines your criteria including location, price and characteristics of the home. As matches come up, we will au-tomatically send you emails with the information on that listing.
Property Tours Once we have selected properties of interest we will schedule walk-throughs of properties matching your preferences and needs. Depending on availability and your schedule, we may visit one at a time or take an afternoon or evening and visit multiple properties. As you tour each property, you’ll want to carefully assess each property and keep in mind that there are times when you may need to be flexible to get what you want, where you want it and stay within your budget.
Private Client Services Each one of our clients gets access to a special clients-only section of our website which features only the listings you want to see. With the tools in this area, you can create your own personal search on the MLS – the same system that is available to realtors. Your personalized search will be updated in real time. In other words, if there are any new listings or price changes you will be the first to know via e-mail. You may also be able track sales and offmarket listings, while organizing your favourite listings, printing them or emailing them.
Advance Access to Exclusive Properties In some neighbourhoods, homes are sold within days, or even within hours, of being listed on MLS. Others are marketed and sold within a real estate company’s network without ever being made avail-able to the public. We will arrange for advance access to properties that are represented within their pro-fessional and company network.
Evaluation of Options It can be challenging to determine the fair market value of a home and to assess whether it is “good val-ue” for its listed price or for your budget. Variables that impact the value of a home or property include its location, neighbourhood, community plan, proximity to amenities, lot attributes, views, property size, interior and structural condition, construction type, age, unique features, and the state of the local real estate market.
5.
Submitting an offer It’s important that you sit down with your Advisor or lawyer to prepare your offer. Real estate laws vary widely from region to region, and it’s essential that you protect your legal interests and account for any specific contractual contingencies that are unique to your area and desired property.
SUBMITTING AN OFFER
General information about offers Legal and Contractual Obligations
Professional Inspection
An offer commits you to legal and contractual obligations as
Your REALTOR® can advise you as to whether a professional
soon as the other party has accepted it. Prior to submitting
inspection should be conducted prior to or after submitting
an offer, ensure you are clear on the legal obligations you are
your offer. This will depend on the property age and type, and
undertaking, should the offer be accepted.
whether competitive bids are anticipated.
Valuation
Time Frame
Prior to writing your offer, we can provide you with information on
Ensure that any time frames indicated in your contract are
recent area sales, local market information and background on
realistic, particularly if your offer is still subject to securing a
whether there are competitive bids, which will help you determine
mortgage loan, a situation we advise against by ensuring you
your initial offer as well as your target price for this specific home.
secure pre-approval in advance. In-creases in market activity as well as increased vigilance by lenders may mean that mortgage
Background Research With some investigation, your associate may also be able to assess your seller’s background and objectives for selling, which may assist you in crafting a competitive offer. Offer Details The details of an offer typically include: your legal name and that of the vendor, the legal civic address of the prop-erty, the price you are offering to pay, inclusions, amount of your deposit, dates you take legal and physical possession of the home, legal “subjects” or “conditions” upon which the contract becomes final (such as satisfactory home inspection report or financing approval), and the date the offer expires. Your offer is a legally binding document and should be prepared by a real estate professional or lawyer.
approval requires more time.
6.
Offer negotiations After submitting an offer, we should be prepared to negotiate, not just on the initial price, but on all key factors impacting the sale of the home including deposit, inclusions, dates for completion and possession, and deadlines for subject removals.
OFFER NEGOTIATIONS
What to expect when offering Preparation It is important to include all the key factors in preparation, including: deposit, inclusions, dates for completion and possession, and deadlines for subject removals. We will ensure you know your budget and requirements prior to submitting your offer so you don’t commit to additional costs in the heat of the process.
Multiple Offers In high-demand, low-inventory areas, you may find yourself bidding against other buyers. Some sellers in high-demand niche markets may also intentionally list their home at a low price hoping to stimulate multiple offers. This doesn’t necessarily mean that the price will be bid up significantly over the asking price, but it does mean that due diligence is required on your part and our part as your REALTOR® team to ensure the offer you submit is strategic, competitive and reflective of what are ultimately willing to pay for the property.
Whether you are anticipating competition or not, you should be pre-approved for your mortgage pri-or to your home search and well in advance of writing an offer. In a multiple offer situation, this will impact your ability to negotiate successfully, particularly if others making an offer are already pre-ap-proved. It also lets you know the maximum you can afford in what may be a stressful situation.
Steps for Buying a Home
Potential Responses You can expect one of three responses to your offer: • Accepted as is: the deal is complete and once signed by the seller, the offer becomes a binding legal contract. • Counter offer: the seller may make changes to your offer, such as adjustments to the price, clos-ing date or conditions.You may accept the counter offer and close the deal by signing the document. Or, you may make another counter offer back to the seller. • Rejected offer: the seller may choose to reject the offer and the sale will not go through.
Offer Acceptance Once both parties come to an agreement, negotiations conclude and you move on to the next steps in the buying process.You will have a set period of time in which to satisfy the legal conditions (“subjects”) agreed to in your contract, such as completing a satisfactory home inspection report or securing financing. Only after your subjects/ conditions are removed do you have a legally binding document.
7.
CLOSING THE TRANSACTION
Buyer representation
Your Engel & Völkers advisor will tend to every
need throughout the home sales process to ensure a worry-free experience for you. You can expect insight and information from a market expert, marketing strategies tailored to your property, proactive communication and ongoing consultation. The marketing professionals at Engel & Völkers who support our advisors have committed themselves to a clearly defined goal: to identify the maximum value of your home and to sell it for the best price possible. Using our broad range of expertise and the specialized training received at our company-owned academy, we dedicate ourselves to this goal and perform with total passion.
Above & Beyond
ACHIEVING THE BEST POSSIBLE OUTCOME Our service focuses on quickly relaying purchase offers and advising on the submission of counter-offers, the negotiating process itself, inspections, contractual issues and closing preparations. While we communicate often throughout this process as your representative, it is our role to stand firm and skillfully negotiate on your behalf and to achieve the best results for you. We will assist you throughout the transaction, be present at closing and handle the exchange of keys.
Ideal conditions for a successful closing: • Agreement between all parties concerning the purchase price and contingencies • Proper preparation of all required documents • Regular communications between all parties • Transaction management • Service at closing • Assistance during the handover of the property
Yaletown Shop
Kerrisdale Shop
West Vancouver Shop
130 - 1152 Mainland Street Vancouver BC V6B 4X2
2126 W. 41st Avenue Vancouver, BC V6M 1Z1
2416 Marine Drive West Vancouver, BC V7V 1E1