Buyer’s Guide
Damiana
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i have the passion for real estate. and a reputation for service
ranked #18
of 55,000 agents in south florida
table of contents About Damiana 06 Steps to Buying a Home 09 Mortgage Information 10 Wants & Needs 12 Buyer’s Timeline 16 Writing the Offer 19 Inspecting the Home 20 RE/MAX Difference 22 RE/MAX Outsells 23 Buyer’s Mentality 24 Testimonials 26
all about damiana Damiana
Damiana Mendes Ponce is a seasoned real estate expert, making her name as a top producer as a RE/MAX agent for over a decade. She originally hails from the Caribbean Island of St. Lucia and moved to New York in 1987 to attend school. She earned her Bachelor of Science in Hotel Management from Lynn University in Boca Raton in 1991, and remains a resident of South Florida to this day. Damiana began her career in sales as an assistant manager with the Marriott Hotel chain, and later served as the Director of Sales and Marketing for the St. Lucia Tourist Board Southeast region. After getting married and starting a family, she became a stay at home mom for two years, until deciding to apply her talent and experience to the real estate field. During her tenure at RE/MAX, Damiana has established herself as a premier agent. She has earned such accolades as the Certificate of Excellence for the RE/MAX Florida Region, ranking No. 18 out of 55,000 RE/MAX Realtors, and was awarded a RE/MAX Platinum Award (2014) and Hall of Fame (2014). Damiana’ s production accomplishments include being designated a Top Producer in the RE/MAX Top 100 (2013) and member of the RE/MAX 100% Club (2008) to 2013. In February 2014, she was ranked 18th in Top 50 individuals in the Florida state region for residential real estate, and 20th in residential and commercial. In the entire state of Florida, she was ranked 81st of the Top 100. She has also been classified as a Premier Agent on Zillow. She has spent her entire career in Broward and Palm Beach County, beginning with Keyes Real Estate and Lenson Realty, until joining RE/MAX, where she has been an agent for over 10 years. Damiana specializes in South Florida homes, using her intimate knowledge as both a resident and a real estate representative to match buyers and sellers with properties. She has coordinated multi-million dollar property sales and listings, and has helped more than 1,000 families achieve homeownership. Damiana brings a wealth of experience to the table in any real estate transaction, and adheres to a four-point philosophy of customer service: • Trust • Honesty • Integrity • Client satisfaction from start to finish During her career as a customer service professional working across multiple industries, Damiana quickly recognized client satisfaction as a guiding principle of how to do business. Not only is her track record illustrated by her numerous awards and recognition at RE/MAX, but her marketing savvy, extensive business contacts, client referrals, and plain old hard work is what have resulted in success.
steps to buying a home Damiana will help you every step of the way. When purchasing a home, you are faced with a multitude of decisions! The primary one is whether you are actually prepared to purchase a property. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be a complex and tiring process. Although, once you have determined that you are ready to move forward with the required effort towards your home-purchasing goal, the rewards are unquestionable. Damiana will make the process of purchasing a home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. She will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and help you through the myriad of details attending the actual purchase. YOUR FIRST STEP Your first step to buying a home is to first ask yourself why you want to buy a home: to stop paying rent? To start building equity? To have a place of your own? To raise a family? To entertain business associates? To move up to a bigger house? Next, list what kind of home you’d like and where you would like to be. Be specific. Separate the “must haves” from the “want to haves.” Think of yourself as zeroing in on a target, going from the general to the specific. Consider area (city, suburban neighbourhood, country); community (north, south, east, or west side); neighbourhood (older and settled or sparkling new; a particular school zone; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work. Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home.
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SHOPPING WITH A POWERFUL SOURCE
Damiana offers a buyer profile system to get you all MLSÂŽ System listings that meet your exact requirements. Using one of these systems can greatly increase your chances of finding that perfect home as you will be made aware of all existing and new listings that meet your requirements.
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CONTACT DAMIANA WHENEVER YOU NEED
Contact Damiana anytime you need to know what’s really going on in the market. If you have questions, she’ll have the answer! When you’re ready to take the next step toward buying a home, she’s here to help.
the buying process LOAN PRE-QUALIFICATION Once you have addressed the above needs, your next step in the purchasing process is to get pre-qualified with a mortgage company. This can be done over the phone or even online in a matter of minutes. Damiana will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approval for their clients. DAMIANA FIND THE RIGHT HOMES FOR YOU Once you’ve been pre-qualified and know what price range you want to stay in, Damiana can help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them. She has the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications. You can even search her listings online to streamline the process yourself. DAMIANA HELP YOU EVERY STEP OF THE WAY Damiana will help you complete your financing and inspections, and close on the transaction. Her top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful. “The buying process can be a stressful one, but I assure all my clients that I will be by their side every step of the way. My goal is to make the process as easy and seamless as possible for all my clients and ensure that they reach their real estate goals.” - Damiana Mendes Ponce
mortgage information DIFFERENT TYPES OF MORTGAGES Getting a mortgage is one thing. Getting a mortgage that best suits your situation is another. Some mortgages have less strings attached but have more strict stipulations, while others may be harder to get, but have more flexibility. It is important to have all the information about mortgages available to you before you decide to move forward in the purchase of your home. CREDIT HISTORY All lenders review a borrower’s credit history to determine the type of credit used, the amount owed, and the borrower’s repayment history. INCOME & ASSETS Most loan programs require the lender to verify all of your income sources. Typically you will need to provide pay stubs, your T-4 and copies of your tax returns. Lenders will also want to go through your assets and how much of a down payment you will have when determining your loan approval. DETERMINE YOUR PRICE RANGE The best place to start when buying a home is to find out how much house you can afford. Damiana can refer you to a mortgage broker who can assist you with determining how much of a down payment you can afford, comfortable monthly payment, and the type of loan that best fits your needs. Serious buyers who are highly motivated should go through the effort of getting pre-approved; not only will this allow you to focus your time on searching for a home, but it will also position you as a serious buyer in the eyes of sellers when the time comes to make an offer.
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MAKE A LIST AND PRIORITIZE
Imagine your ideal home and location. Now make a list of everything you envisioned, take that list and break it down from high to low priority. High-priority items are the things you cannot live without in your new home. (Large Bedrooms, Large Closets, High-end appliances, proximity to amenities and schools, etc.). Lower-priority items are those that are an added bonus, but not necessary. (Jetted-tub, landscaped yard).
“68% of buyers are NOT satisfied with their agent’s buying process.” TOUR HOMES IN PERSON AND ONLINE
Some people look at several homes before finding just the right one. And others find “the one” immediately. Thanks to the internet, you can streamline your search process significantly by checking outhomes online. This helps connect you with sellers who are selling their home in your local market.
“If your house isn’t seen, It simply won’t sell.”
your wants & needs WHAT IS MOST IMPORTANT TO YOU? MOTIVATION - What are the reasons you have decided to buy a home? Does your motivation justify your needs and wants? TIMING - What is your timeline and when are you looking to close on your home? PRICING - What is your price range? Typically this is one of, if not the most important factor when looking at purchasing a home. Does the home you are looking for fit your budget? DECISION MAKING - Will anyone else be involved in the decisions moving forward or are you the primary decision maker? LOCATION. LOCATION. LOCATION. - You’ve heard this before, but understand that there’s so much more to a property than simply where it is located. A desired location comes with many compromises. Are you willing to compromise? HOME TYPE & STYLE - From suburban townhomes to highrise condos and sprawling rural bungalows to luxury estates. Your personal style usually impacts the style of home you get, however, there are many factors that you must consider that play a huge role in the style and type of home you desire. HOME SIZE - How important is size? Obviously it matters, but if you are able to get something that meets your minimum requirements in a desired location but lacks some of the other things you want, would you be willing to compromise on those other things? These are common questions that you may need to ask yourself during the buying process.
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LOT SIZE - How big of a backyard do you want? Enough room to entertain or for the kids to run around and play in? Does it matter if the yard is west facing the mountains? FLOOR PLAN - What type of layout would you like in your home? Closed-compartments or open concept. Does the flow of the home matter to you? Newer homes and newly renovated ones tend to have an open concept with a high focus on the kitchen, master bedroom and ensuite. However, older homes usually are spaces defined by walls and compartmentalized with more focus on gathering spaces and less focus on the kitchen, master bedroom and ensuite. AMENITIES - What other features are you looking for in your new community? Shopping, transit, schools, proximity to work, local coffee shops, grocery stores, bike trails, parks, recreation facilities, etc. Amenities play in to your everyday lifestyle. Their convenience could make a huge different on the way you live your life. Consider this as an important factor when deciding what home best fits your needs.
www.damianamponce.com
buyer’s timeline PREPARING YOURSELF TO BUY YOUR HOME. Starting the journey to home-ownership can be overwhelming and stressful. But with a little planning, you’ll get the home that’s right for you. A home that strikes a balance between your “wish list” items and the practical realities of the property, location and the housing market. Before you know it, you’ll have a place to call your very own. A place to entertain. A place to decorate and a place to raise a family. Below we will review the buying time-line and what you should expect throughout the process. This cycle is commonly used to develop a better understanding of the buying process. ------------------------------------------------------------------------------------------
BUILD A BUDGET This helps to determine what you can afford
START ENJOY YOUR HOME! The process may be stressful at times, but the final result is always exciting!
CLOSING DAY The day you legally get possession of your home.
MOVING PREPARATIONS Utilities moved, landlord notified & moving company chosen (if necessary)
FINALIZE THE DEAL Mortgage is approved & lawyer finalizes the deal.
D HOME INSPECTION Get an inspection from a qualified home inspector to avoid costly surprises.
INVESTIGATE MORTGAGE OPTIONS Get pre-approved first!
CHOOSE A REALTOR® Damiana will play a vital role during the process.
GET A LAWYER You have to make sure you are covered legally with a real estate lawyer.
START SEARCHING Go house hunting, create a wishlist and checksheet.
MAKE THE OFFER Damiana will present the offer to the seller.
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UNDERSTANDING HOW SELLERS SET THEIR PRICE
Sellers price their homes in several different categories and it’s important to consult your agent about the price of a property. Keep in mind that roughly 75% of all homes on the market are priced 5-10% above fair market value.
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GETTING HELP FROM YOUR LENDER
Depending on your financial standing, you may have assets worth equal to or more than your needed down payment. If this is the case, your financial institution may be willing to lend you the extra cash needed for your down payment, while securing it against your assets.
writing the offer GETTING STARTED All offers will be made in writing and presented to the seller’s representative/ agent. All accepted terms and conditions carry through the life of the contract unless both parties agree to amend in writing. Below are some of the items we need to pay close attention to when writing an offer: PURCHASE PRICE You want a good buy but your offer must also be reasonable to the Seller. Low-ball offers can sometimes upset the seller and prevent further discussions. Make sure your offer is fair and reasonable. Damiana will guide you through this part of the process to help find a reasonable offer to present, but ultimately, you decide how much the property is worth and what you are willing to pay for it. INCLUDED ITEMS What items do you want to be included? (Fridge, washer, dryer, hot tub, window coverings?) EXCLUDED ITEMS What items do you not want to be left behind? Sometimes, the sellers will leave behind things they do not want. E.g. Deck furniture, barbecue, shed, outdoor garden light fixtures, etc. Make sure you are specific if there is something you do not want left behind. INITIAL DEPOSIT The importance of this item is often overlooked. This shows commitment and will secure the property for you. METHOD OF PAYMENT Will this be a cash sale or a traditional mortgage and how much of a down-payment will you be providing? POSSESSION When does the property legally change ownership, when do you receive keys? This is important for you because it helps you organize the transition of your move and make preparations necessary.
inspecting the home THE HOME INSPECTION PROCESS Hiring an experienced home inspector will help you discover it’s true condition and what may lie behind close doors that you can not see. Damiana has a group of trusted inspectors that can assist you in making sure your potential purchase is a safe one. Some of the things home inspectors investigate are shown below. The inspection is vitally important if you want to learn about your new home and determine the condition the home is in. Being an informed buyer means you should always be aware of the potential pitfalls of the buying process and an understanding of what to expect throughout. Home inspections can give you specific details of the home that help you make an informed decision. Some of the thins to look for during an inspection is listed below:
> Structural (Cracks in walls, concrete floor or foundation) > Electrical (Over-wiring, over-lamping, or lights flickering) > Interior (Poorly maintained/falling apart, mold issues) > Exterior (Grade sloping, eavesthrough, siding/stucco) > Roof (Damaged or worn shingles, water penetration) > Heating (Poor ventilation/circulation or older furnace) > Plumbing (Drippy faucets, runny toilets, leaky pipes)
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CHOOSING THE RIGHT INSPECTOR Every individual involved in the homebuying process must be of the highest quality, certified and experienced. This may be the biggest investment of your life and understanding what you are getting yourself into is so vitally important. Be sure you choose an experienced inspector who is qualified and trusted to overlook nothing and provide your report in a timely, organized and professional manner.
Damiana will refer you to a trusted inspector. Most agents have likely experienced the good, the bad and the ugly through previous home inspections. Damiana will make sure your inspector is actively licensed and a member of a trade association, like the National Association of Certified Home Inspectors or American Society of Home Inspectors, and other local professional groups. Members of professional organizations are often held to a higher standard and have gone through more various qualified training. Damiana will ensure the inspector will allow you to see a sample inspection report. While you’ll receive all the information during the time of the inspection, the vast amount of details can be overwhelming. Seeing a report in advance helps to prepare you for the information beforehand, and how it can also be used as a negotiation tool.
“The last thing you want is for your dream home to turn into a nightmare.”
re/max difference UNDERSTANDING THE DIFFERENCE A RE/MAX AGENT CAN MAKE An independent, unbiased third party has recognized RE/MAX as the commanding presence in Real Estate. Real Trends, the leader in performance ranking for residential brokerages, has identified 159 RE/MAX Brokerages in this year’s Top 250 report. Our brokerage, Re/Max Pancreek, has been known to house some of the best agents in all of Florida. It’s more undeniable proof that RE/MAX has the most productive agents.
200 159 150
100 50 0
Coldwell Banker
Keller Williams
Century 21
Exit
Sutton Group
re/max outsells MORE PROOF THAT RE/MAX AGENTS OUTSELL THE COMPETITION The most well known brand in the Real Estate industry for over 40 years. Combine that with the successful Damiana and you have a recipe for success!
“I believe the two simply go hand in hand.”
40
36.8%
30
20 10 0
9.8%
Coldwell Banker
7.1%
Keller Williams
6.0%
Century 21
a buyer’s mentality You, as a home buyer may use several information sources in your search process, but you are most likely to find the home you actually purchase through a real estate professional. FROM MOTIVATION TO CONTEMPLATION TO THE DECISION - IN THE MIND OF A BUYER You’re ready to buy your next home, but you want to make sure you are getting something you love with great value for a good price in a neighborhood you desire. You are MOTIVATED to begin the next phase of your life and future possibilities start running through your mind. This gets you excited of what is to come! So you CONTEMPLATE your next steps. You look at all the options available to you with the internet being the most efficient one right at your fingertips. You search and see some homes you like but you want to see more. However, this process is time consuming. You’ve seen open house signs, new builder or development ads and you’ve attended a few open houses, but still you can’t seem to find that house that was created in your mind. You know you may have to compromise something, but you didn’t think you had to compromise so much. Your CONTEMPLATION circles you back to the one thing you may have thought you didn’t really need. You didn’t want a REALTOR®, because you thought you could do it yourself. But now you’re realizing you don’t have the time to spend and many resources are not being fully utilized. You haven’t seen any short-sale options, foreclosures or expireds. So what if you are completely missing out on the home of your dreams simply because you didn’t contact an experience agent. 17% of buyers start with a REALTOR® and in a world completely dominated by the information through the web, this stat shows how important a REALTOR® is throughout the home-buying process. In the end, your DECISION should be to go with a Real estate agent.
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HOW BUYERS FIND THEIR HOME 51% 34% 4% 4% 4% 2% 1% 1%
internet (home searches) REALTOR® call number on yard sign friend/relative/neighbor open house new builder newspaper & magazines knew the seller
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WHEN YOU’RE READY, CALL DAMIANA! When you are ready to take the next step, I am prepared to utilize all my resources to help connect you with your next home. Visit www.damianamponce.com to view all available homes on the market.
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testimonials
what people are saying BOUGHT A SINGLE FAMILY HOME IN FLORIDA My wife selected Damiana from real-estate advertisements. I was very comfortable with Damiana from the first day we met. She was very understanding as to what we had in mind in regards to purchasing a new home. Damiana was very knowledgeable and informative about our surrounding area and I was pleased with her expertise and professionalism. I will definitely seek her services if I ever decide to purchase another home in the future. SINGLE FAMILY HOME IN BOYNTON BEACH, FLORIDA Damiana is an excellent real estate agent. She has strong knowledge of local real estate market. You can ask her anything, and she will give you a well researched, honest answer particularly with regard to how to properly price your home. We trust her and plan to work with her again in the near future. BOUGHT TWO SINGLE FAMILY HOMES IN PARKLAND, FLORIDA I used Damiana to buy a house and then to sell it and buy a new one three years later. Every step of the way I felt like she had all the bases covered and was in my corner. She also had all the right contacts to expedite the processes and make things as smooth as possible! SINGLE FAMILY HOME IN COCONUT CREEK, FLORIDA Damiana Ponce is the best real estate agent I have ever used. She is very experienced and has made each off my purchases and closing very smooth. I highly recommend her to all my friends, colleagues and family members.