Purchasing a Home in
ARIZONA
Gayle Henderson PC, REALTOR速
(602) 850-4335 Gayle@theGayleHendrersonGroup.com www.AZMovingPlan.com
Thank you for contacting me regarding the potential purchase of your property. Purchasing a home can be a very personal experience. That is why I created this introduction to my services as a Buyer Specialist so you can get to know me a little better before we meet in person.
This book is the first step in outlining my expertise and experience in representing you as a buyer in the purchase of your next property. My goal, through experience, study and practice is to achieve the highest level of service: A Trusted Advisor to you in all matters of Real Estate. I look forward to our meeting and getting to know you and what your goals are for your new home.
Gayle Henderson PC, REALTOR速
Certified Negotiation Specialist, Certified Resort and Second Home Specilist
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PROFESSIONAL RESUME Professional Designations
Evidence of dedication to profession and continuing education BS GRI CRS ABR ePRO CLHMS CDPE CIAS rCRMS REO CNE
University of Southern California Graduate of REALTORS Institute Certified Residential Specialist Accredited Buyers Representative Internet Real Estate Professional Certified Luxury Home Marketing Specialist Certified Distressed Property Expert Certified Investor Agent Specialist Certified Risk Management Specialist Certified by Five Star Institute Certified Negotiation Specialist
Professional Associations
A true believer of giving back and power of networking Arizona Real Estate License National Association of REALTORS Arizona Association of REALTORS Scottsdale Association of REALTORS Residential Sales Council Star Power Speaker Bureau Luxury Marketing Million Dollar Guild
GAYLE HENDERSON PC REALTOR
(602) 850-4335 (888) 233-0682 gayle@thegaylehendersongroup.com www.AZMovingPlan.com
Business Experience
A strong background of business and client service skills August 1998 - present August 1993 - 1998 May 1989 - April 1993 July 1979 - May 1989 Sept 1967 - June 1979
RE/MAX Excalibur
RE/MAX Excalibur Russ Lyon Realty Co. Hanasport Active Wear/Marketing Freelance journalist & Food Professional Secondary School Teacher
Achievements A snapshot of success
RE/MAX Hall of Fame 2001 RE/MAX Lifetime Achievement 2005 Frequent Speaker for Industry Events held by National Association of REALTORS, Women’s Council of REALTORS, and RE/MAX International among others
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TEAMWORK team [teem] noun a group of people organized to work together toward a cooperative goal
Our hand picked team of specialists have decades of real estate experience. Each team member is a specialist in their role and work together toward the goal of a successful transaction on your behalf.
Gayle Henderson PC REALTOR® Partner
Steven Klemow PC REALTOR® Partner
Trish Strong REALTOR® Marketing Director
Terry Robinson REALTOR® Transaction Coordinator
Michelle Asterino REALTOR®
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WHAT MAKES GAYLE DIFFERENT It does matter which real estate agent you choose to represent you on the purchase of your home. If you want great results, you will need to consider the agents Education, Experience and Reputation.
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EDUCATION
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EXPERIENCE
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An educated agent focuses on the SOLUTION, not the PROBLEM. The ability to anticipate problems, resolve them and handle them quickly and professionally defines a successful agent. Gayle Henderson holds numerous advanced designations in the real estate industry such as the Graduate of the REALTOR Institute (GRI), The Accredited Buyer Representative (ABR), Certified Luxury Home Marketing Specialist (CLHMS), the Certified Residential Specialist (CRS) and many more. Her education is ongoing as Gayle seeks out relevant course work to enhance her skills as a real estate professional.
Choose to be represented by one of the best agents in the industry. Real estate is one of those rare professions where you can hire the best in the business without any added cost. So why risk it? In fact, as a buyer, Gayle’s fees are typically paid for by the seller. Gayle Henderson has been licensed since 1998 and has sold over 75,000,000 worth of real estate property. Gayle also sells on average 10 times as many homes as her peers. Her business platform and marketing has been emulated by top agents across the country. She has achieved the coveted RE/MAX International Lifetime Achievement award and RE/MAX Hall of Fame. She knows what it takes to be successful in this industry and is one of the hardest working agents in the business.
REPUTATION
When other agents enjoy working with the agent that is representing you on your purchase, they will communicate to their seller that your agent is someone you can trust.The more trust they have in your agent, the more trust they will have in the sincerity of your offer. Gayle Henderson is involved in numerous peer organizations both locally and internationally. Her stellar reputation with her fellow agents is something she highly treasures. She is often asked by trade organizations such as The National Association of REALTORS, RE/MAX International, and Institute for Luxury Home Marketing to speak at conventions to fellow real estate agents on her business tactics and marketing philosophy. When agents see her For Sale Sign in the yard, they know they will work with a true professional who will work hard to get the deal done.
TECHNOLOGY
Staying on the cutting edge of technology demonstrates dedication to the profession and commitment to provide the best in service.Technology is not only important in communication and customer service, but is essential to successful business transactions in today’s world. Gayle has always been on the edge of technology, implementing the latest and greatest systems to better her business. She was one of the first to offer a ‘paperless’ transaction for her clients.
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WHY CHOOSE A RE/MAX AGENT? It’s simple. Surround yourself with success. As with most successful businesses, the majority of real estate sales is conducted by a small percentage of people.That is, the most productive and hard working agents. RE/MAX is a global real estate network of franchise-owned and operated offices with nearly 90,000 sales associates in 90 countries. Those agents constitute the world’s most productive real estate sales force. Through their efforts, they’ve made it possible to say that nobody in the world sells more real estate than RE/MAX.
STATS
Gayle networks with top agents around the world (and from other companies). This strong network allows her to find out which properties are about to come on the market before her competition as well as have a strong pulse on the market so you know she can protect your interests as a buyer.
productivity Phoenix, Arizona
Would you rather have the most agents...or the best agents? In real estate, having the most agents doesn’t mean much. Having the most productive agents means everything. In the Phoenix area, RE/MAX agents average the most transaction sides per year. It’s simple... RE/MAX is the most productive sales force in real estate.
FOR MORE INFORMATION, VISIT REMAX.COM
RE/MAX
Keller Williams
Realty Executives
West USA
Coldwell Banker
Russ Lyons
Realty One
HomeSmart
Source: ARMLS, date range is January 1, 2013 – December 31, 2013. ©2014 RE/MAX, LLC. All rights reserved. Each RE/MAX® real estate office is independently owned and operated. 140056
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GIVING BACK RE/MAX International is involved in several charitable organizations such as the Children’s Miracle Network, Susan G. Komen Home for the Cure, and The RE/MAX Relief Fund. Locally, Gayle and Steve are involved with Sentinels of Freedom Scholarship Fund, Arizona. With every home she sells, she donates a portion to this important charity. Sentinels of Freedom is a community non-profit organization that provides transitional services for wounded serve members returning home from war. This four year scholarship includes rentfree housing, mentoring, education, career placement, new adaptive vehicles, and more. To learn more, visit www.sentinelsoffreedomaz.org If you would like us to redirect our donation on your behalf to a charity close to you, just let us know!
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THE BUYING PROCESS Initial Consultation Pre-Approval with Lender View Homes and Set Up Personal Search Website Conduct Market Analysis on Favorite Homes Write and Submit Offer Negotiate Offer - Communicate with Agent Acceptance of Contract Open Escrow - Deposit earnest money Inspection Contingency Period Begins - Seller Advisory - Verify Pertinent Facts Loan Process - Credit Report - Appraisal - Verifications Underwriting - Conditions Loan Approval Title Research - Insurance - Survey Assemble Documents - Funding of Loan - Signing Paperwork Walk - Through Recordation - Closing - Moving In! Experience Real Estate Like Never Before...
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AGENCY RELATIONSHIPS Buying a home can be a challenging experience. Choose a REALTOR® that you trust will guide you through each step with the utmost professionalism, care and knowledge. Signing an agency disclosure as well as a buyer brokerage agreement will define your working relationship and will protect your interests as a buyer.
Loyalty
The real estate agent must act in the best interest of the buyer
Obedience
Must follow the lawful instructions
Disclosure of all Material Facts
Examples but not limited to: • Relationships between agent and other parties • Existence of other offers • Status of earnest money • Seller’s financial condition • Property’s true worth • Commission split with other brokers • Legal effect of important contract provisions
• Confidentiality
Any discussions, facts, or information that should not be revealed to others but does not include responsibility of fairness and honesty in dealings with all parties.
Accounting in dealings
Reporting of where any money placed in the hands of the broker is kept
Reasonable Skill and Care
Arriving at a reasonable purchase price and advising buyer of such Affirmatively discovering material facts and disclosing them to the buyer Investigating the material facts related to the sale
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THE LOAN PROCESS When you are ready to begin looking at various houses to find your dream home, and are considering taking on a loan, you need to prepare all of the necessary materials to present to a lender. We will need to receive a “Loan Status Report” from your lender before we submit any offer to purchase. There are three key factors that you will need to consider when determining how much home you can afford. These are the down payment, your ability to qualify for a mortgage, and the closing costs associated with your transaction. Down Payment Requirements Most loans today require a down payment of between 3.5% and 5.0% depending on the type and terms of the loan. If you are able to come up with a 20-25% down payment you may be eligible to take advantage of special fast-track programs and possibly eliminate mortgage insurance. It is often thought that bigger is better when it comes to down payments. In many cases this may be true. However, the arithmetic will differ from case to case. A bigger down payment means smaller monthly payments, and lower interest expense for as long as you remain with a mortgage. This can be an important factor for many people. But if you can put your available funds to work for you, so that they can earn more than the interest rate on your loan, you could be dollars ahead with a smaller down payment. Also, a smaller down payment may allow you to keep your extra cash liquid and available for an emergency. Closing Costs Don’t forget to think ahead carefully. In addition to the down payment on your dream home, you will be required to pay fees for loan processing and other closing costs. These fees must be paid in cash at the time of the final settlement, unless you are able to include these in your financing. Typically, total closing costs will range between 2-5% of your mortgage loan. Qualifying for the Mortgage Most lenders require that your monthly payment ranges between 25-28% of your gross monthly income. Your mortgage payment to the lender includes four items -- the PITI. Remember, when you buy a home all interest is tax deductible so you will qualify for a major tax advantage that will effectively increase your take-home pay. Your total monthly PITI and all debts (from installments to revolving charge accounts) should range between 33-38% of your gross monthly income. This is a general rule of thumb, but other key factors specifically determine your ability to qualify for a home loan such as income, credit report standing, assets, and the property appraisal.
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VISUALIZING YOUR NEW HOME Once you have decided how much money you are willing to spend on your new home, we can set up your personal search website so you can start looking at your options. It is helpful to let us know what you are looking for in a new home. What are your “Must Haves” where you won’t even consider looking at something without these features. What are you “Wants”, in other words, you’d love to have these features but they aren’t deal killers. What are your “Don’ts”? Maybe you don’t want to be in a two-story home or have a pool. Please try and visualize your ‘perfect home’ and let us know what your vision is. We’ll set up your initial search and show you what homes are available that fit your basic parameters. However, we realize that our wishes can change once we see what is available. So, just let us know if you want us to open up the search more.
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WHEN SEARCHING FOR HOMES With so much information out there, we realize you may find homes of interest outside of our MLS searches. Please call us directly when you see a home you’d like more information, we can represent you in your purchase! INTERNET FOR SALE SIGNS NEWSPAPER OR MAGAZINE ADS SOCIAL MEDIA OPEN HOUSES NEW CONSTRUCTION It is imperative that you notify any real estate agent that you may meet that you are being represented by Gayle and to direct any inquiries through her. You don’t want to lose your right to a buyer agency.
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YOUR PERSONAL WEBSITE With so much mis-information floating around the internet, it is important to stay current on your search. That is why we provide you with your personal search website that is tied directly into our Arizona Regional Multiple Listing Service. On your website, you will have access to: • • • • • •
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Categorize listings (favorite, possible, reject) Make notes View Satellite Maps View Virtual Tours and Photos Request Showings Receive notification of new listings and price changes
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MAKING AN OFFER Once you have found the home you wish to purchase you will need to determine what offer you are willing to make for the home. It is important to remember that the more competition there is for the house, the stronger the offer should be. This is the part of the buying process where Gayle puts her experience and skills to work for you! To communicate your interest in purchasing a home, Gayle, will present the Listing Agent with a written offer. After Gayle presents your offer to the Listing Agent it will either be accepted, rejected or the Seller will make a counter offer. This is when Gayle will negotiate terms of the contract if necessary. Gayle’s contract writing and negotiating skills are very powerful. Her work with a commercial real estate attorney at a prestigious law firm here in town put her contract knowledge at the top of her field. When the Seller accepts an offer, it becomes a legal contract. When you write an offer you should be prepared to submit an Earnest Money deposit. This is an indicator that you have stopped looking and that your intention is to purchase the property. The Seller can stop considering other offers, knowing yours is valid and serious. The step-by-step contract procedure for most single-family home purchases is standard and is followed quite closely by most builders and REALTORS®. The “Purchase Contract” used is a standard document approved by the Arizona Real Estate Commission. Some buyers retain lawyers to review the transaction contract but most do not if an Agent is representing them. The Purchase Contract or “contract” constitutes your offer to buy and, once accepted by the Seller, becomes a valid, legally binding contract and should not be entered into without serious purpose, so understand what is written on the contract offer. It will be prepared according to your instructions and contains required information to be provided. In general the contract asks for your name, how you intend to take title, Earnest Money deposit, inclusions and exclusions, Title Insurance policy, date for closing, purchase price and terms, date of possession, and signatures. When you meet with Gayle and sign the agency agreement, we will provide you with a detailed ‘buyer binder’ complete with a more detailed explanation of the actual residential purchase contract to read through carefully before we even begin looking at properties. It is important to be familiar with the contract so when we find the perfect home, we can fill in the details and submit the offer quickly!
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ESCROW PROCESS Many states use attorneys to handle real estate transactions. In Arizona, we use escrow companies. Once our contract has been accepted by all parties, we will take your earnest deposit check and open Escrow. In brief, escrow is a transaction where one person delivers something of value to a neutral third party, to be held until the happening of a specified event or condition, upon which the third party delivers it to the second party. Both parties in a real estate transaction entrust legal documents and various funds to the escrow holder, which transfers the papers and funds upon the closing of escrow. Since escrow is a neutral third party, both the buyer and seller are assured that all mutually agreed to terms are met before the transaction is completed. The following time table has been suggested to give you an idea of the timing of the different events in the home buying process. It is meant to be a guide and if you have any questions, please ask Gayle.
First Week • • • • •
Deposit earnest money check and Open Escrow Make loan application Pay for appraisal and lock-in fee Arrange for property inspections Arrange for pest/termite inspection
Second Week • • • •
Property Inspections and Wood Infestation Inspection Make repair request to seller (within 10 business days of acceptance) Make sure all information mortgage company requested has been submitted Arrange for movers
Third Week
• Call to find out if repairs have been completed • Call to find out if mortgage company needs additional information
Fourth Week • • • •
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Walk through to verify completed repairs Arrange for cashiers check for closing Arrange for settlement, signing of papers Arrange for transfer of utilities
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DETERMINING TITLE IN ARIZONA Carefully consider how you intend to take title of your property. This will determine your legal status, rights and obligations to the property. You may want to discuss your options with an attorney to determine which is best for you. Most of the possible ways to take title to your property are listed here. If you have any questions, you might consider consulting your legal advisor.
Community Property
In a community property state there is a statutory presumption that all property acquired by a husband and wife is community property. Some states do not presume a status of community property unless you acquire title as such. Community property is a method of co-ownership for married persons only. Upon the death of a spouse, the deceased spouse’s interest in the property will pass by either a will or interstate succession.
Community Property with Right of Survivorship
This is a method of co-ownership that allows a married couple to hold title as husband and wife while providing for succession outside of probate on the death of either spouse. Each spouse holds an undivided one-half interest in the estate. It requires signatures of both spouses to convey or encumber. Both halves of the community property are entitled to a “Stepped up� tax basis as of the date of death.
Corporation
Title may be taken in the name of a corporation provided that the corporation is duly formed and in good standing in the state of its incorporation.
General Partnership
Title may be taken in the name of a general partnership provided that the general partnership was duly formed according to the laws of the state. A partnership is defined as a voluntary association of two or more persons as coowners in a business for profit.
Limited Partnership
Title may be taken in the name of a limited partnership provided that there are one or more general partners and one or more limited partners. A certificate of limited partnership must be filed in the Office of the Secretary of State, a certified copy of which must be recorded.
Joint Tenancy with Right of Survivorship
Joint tenancy is a method of co-ownership that gives title to the real property to the last survivor. Title to real property can be acquired by two or more individuals. If a married couple acquires title as joint tenants with the right of survivorship, they must specifically accept the joint tenancy to avoid the presumption of community property.
Sole and Separate
Title to real property owned by a spouse before marriage or any acquired after marriage by gift, descent or specific intent may be taken as Sole and Separate. If a married person acquires title as sole and separate property, his/her spouse must execute a disclaimer deed if the state is a community property state.
Tenancy in Common
Tenancy in Common is a method of co-ownership in which parties do not have survivorship rights and each owns a specific undivided interest in the entire title. Experience Real Estate Like Never Before...
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HOME INSPECTION Home inspections have become a routine part of nearly every residential purchase, whether a resale or, yes, even a new construction home.Why you might ask? Here are a few areas that home inspectors look at: Structural: Many home inspection organizations, such as ASHI (American Society of Home Inspectors) have set standards on certain areas of the home that the home inspector looks at to determine the integrity of the essential internal and external structural components. Home inspectors are not structural engineers, but can identify visual defects in these areas requiring immediate repairs and will recommend a structural engineer should they feel it is warranted. Electrical: Do all the outlets work? Are the GFCI (ground fault circuit interrupters operational? Is there any reverse polarity ? Is there any evidence of double lugging of breakers at the service panel? Any wiring not properly encased, landscape watering or lighting systems improperly installed ? Plumbing: Are there any leaks or annoying drips ? Are there any pipes that are vibrating because they are not properly secured? Reverse hot and cold taps in bathrooms or kitchen? Are there any toilets, not secured to the floor? What about cracks in the shower tub surrounds? Is the water pressure sufficient ? Are there any slow draining sinks or tubs? Built-in appliances: All appliances are tested, including running a dishwasher cycle, testing microwaves, oven temperatures and burners . Safety Hazards: Some of these items cross over to electrical and plumbing, and include making certain hot water tanks are secured, that there is proper ventilation of any systems supplied by natural gas, testing temperature variations on both air conditioning and furnace, with ambient weather conditions permitting. Miscellaneous: Other items may or may not be included, but should be reviewed by a qualified professional such as: septic systems, roofs, such as sufficient sealing of flashings, noting cracked tiles, exposed felt under-layment, adequate attic insulation and ventilation, drainage problems, wood decks, wood infestation evidence (termites and dry rot) patios or other exterior structures, pool equipment and systems. There are many home inspection companies to choose from. You can choose your own or we can supply you with a list of inspectors we have worked with in the past.
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OUR PROFESSIONAL RECOMMENDATIONS TITLE/ESCROW COMPANIES LENDERS
Sandy Johnson Fidelity National Title
21803 N. Scottsdale Road, Suite 105 Scottsdale, AZ 85255
Brian Cardenas Amerifirst Financial, Inc.
480-657-0477 office 480-657-0844 fax www.fntarizona.com
NMLS# 183143 | AZLO# 0913950
Cell: (480) 233-7897 Office: (480) 339-1629 brianc@amerifirst.us cardenasmortgageteam.com
HOME WARRANTY
Elizabeth Knudson Bank of America
Fidelity Home Warranty 800-862-6837 (for service calls) www.homewarranty.com
Office: (480) 308-9062 Cell: (480) 364-0940
PROPERTY INSURANCE
14850 N Frank Lloyd Wright #117 Scottsdale, AZ 85260 NMLS: 1228015
Rebecca J. Niessink All State Insurance
29834 N. Cave Creek Rd #132 Cave Creek, AZ 85331
Fernando “Tony” Caraballo Academy Mortgage
480-419-6071
15333 N. Pima Rd. Suite 205 Scottsdale, AZ 85260 Lic# LO- 0918679
HOME INSPECTION COMPANY
Off: 480-767-7886 x 105 Cell: 602-510-4588 f.caraballo@academy.cc www.myazlender.com
Dan Smith Nest Technologies 480-545-6644 Office nesttechnologies@aol.com
Michelle Beyer Homeowners Financial Group Ph: 480-305-8530 Fax: 480-305-8501 mbeyer@homeownersfg.com NMLS# 267703
Hays Cooling and Heating (HVAC) Bill 602-482-0229 service@hayscoolingandheating.com
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Budget Brothers Termite Richard or Ryan 623-582-5505 billie@bugetbrotherstermite.com
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THE CLOSING AND AFTER-SALE SERVICE We are here to help you with your move. If you are moving out of state, we can help introduce you to top agents around the world to help you. If you need a reliable moving company, we can offer some vendor referrals that have come highly recommend by our past clients. Whether you are moving in town or out of state, we are always here to be of service!
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REVIEWS “It’s a rare occasion that I take time to write a letter commending someone on their performance. . . . simply commendable performance is in short supply. Gayle Henderson is clearly a professional in the industry that stands out in the crowd. Presentation... Follow up... Reporting...Good Job.” Bob Ballard Candlewood Homes, President Scottsdale, Arizona “You made Susan and I relax and trust your opinion on the concerns for our young family like a ‘sister’ would do. It is rare in today’s business environment when I meet an individual of your exceptional character. Thanks!” Ted and Susan Reilly and family Phoenix, Arizona “Laurie and I wanted to thank you and your staff for all your work and the wonderful experience we had in selling our home.You showed vision when many others didn’t and provided us honest expectations. It was a delight to work together with you on this venture. We will not hesitate to refer anyone we know that is looking for a real professional when needing to buy or sell a home. Best wished to you!” Bob and Laure Dretske “I want to thank you for the superb job you did for me in selling our home on Sunnyside. I think once it got into your hands, the transaction took all of three weeks. I was happy with the sales price (of course we always wish it were more) and with the manner in which you handled the entire matter from start to end. Like you say, “Work with the best” and that’s you!...thank you for giving up some of your commission from us. Incredibly generous move on your part. And thank you for your contribution to the Children’s fund in my name. Again, very generous of you. I think you’re the greatest and I love you for that.” Barb “Steve and I want to thank you for your excellent guidance and foresight in our recent real estate dealings. You clearly have the inside track on how to deal with the difficult market we are in at this time. We are delighted with the outcomes of both the sale of our current home and the purchase of our new home this week. The gratifying results of both transactions are a direct result of your ability to stay ahead of the market and be pro-active instead of following the trends and being reactive to the market activity. Your ability, professionalism, and sense of commitment to your clients make you the successful person that you are! We are so glad we heeded your advice and listened to your voice of experience. We appreciate all of your efforts on our behalf.” Kathy & Steve Thompson
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I look forward to meeting with you soon. If you have any questions, please do not hesitate to call.
GAYLE HENDERSON PC
REALTOR速 ABR, CRS, CLHMS, CDPE, CIAS, EPRO, GRI, CNE
(602) 850-4335 (888) 233-0682 Gayle@TheGayleHendersonGroup.com
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