BUYER S
GUIDE Your Guide to a Quality Home Buying Experience
Your Life
Your Dreams
I understand you are considering the purchase of a new home. I have prepared this buyer s guide to assist you in the process. It has been my experience that a home isn't a dream home because of the size of the rooms. It's about how you feel when you walk through the front door and the way you can envision living there. This is about more than real estate. It's about your life and your dreams.
I m thrilled to be the real estate professional to represent you. I work with each of my clients individually, taking the time to understand their unique needs and lifestyle. I love matching my clients with the home they have always imagined. That's why I work so diligently to not only find that perfect home, but also to handle every last detail of the purchase process, from negotiating purchase offers to recommending movers. This guide contains helpful information for home buyers, including an overview of the entire purchase process, answers to frequently asked questions, and fact sheets to help us discover the home and neighborhood characteristics most important to you.
After you've had the chance to review this information, contact me. I will prepare an in-depth, customized package of homes for you to review, highlighting properties that meet your criteria in neighborhoods that suit your lifestyle. I sincerely appreciate the opportunity to earn your business.
Cer.fied Residen.al Specialist & Distressed Property Expert
EDUCATION Bachelor of Business Administration, Robert O. Anderson Schools of Management, with a concentration in Human Resources Management, The University of New Mexico, Albuquerque, NM. Licensed Real Estate Broker in the State of New Mexico since 2001
EXPERIENCE As the first employee of Vista Encantada Realtors, LLC I was fortunate to have the opportunity to learn real estate from the ground up: from marketing and listing management to systems development and office organization. Over the years I have learned the valuable skill of listening and being responsive to the needs of my customers. I am organized, dependable, motivated, and results-oriented. I am a strong communicator and skilled negotiator. Every transaction is unique and requires careful attention to detail. I am a strong believer that continuing education is the key to being prepared for the market changes. CERTIFICATIONS Certified Residential Specialist – To receive this designation, a
Realtor® must demonstrate outstanding professional achievements — including high-volume sales — and pursue advanced training in areas such as finance, marketing and technology. This designation is held by only 4% of real estate professionals. Certified Distressed Property Expert – is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. I am committed to finding workable solutions for my clients facing financial hardships in today s market. ORGANIZATIONS Make a Wish Foundation – serve on the Board of Directors for the New Mexico Chapter.
Member of the NATIONAL ASSOCIATION OF REALTORS® committed to a Code of Ethics and providing my clients with highest level of professionalism. Member of the Greater Albuquerque Association of Realtors® and SWMLS.
Work with Integrity Continually Seek Knowledge Create Success for my clients
YOU
IT S ALL ABOUT
My focus is on your complete satisfaction. In fact my goal is to exceed your expectations so that you will want to tell your friends and associates about me. Maybe that s why over 80 percent of my business comes from repeat customers and referrals. Good service speaks for itself. I look forward to working with you and building a valuable relationship.
What You
CAN EXPECT FROM ME
As your representative: Listen to your needs Watch the market for you Advise you regarding market changes Assist with pre-approval & financing
Loyalty * Timely communication Feedback Referrals, when earned
Provide meaningful disclosures Set appointments & view properties Help simplify your decision making Help you prepare & position your offer Negotiate on your behalf Assist in the proper execution of all paperwork Orchestrate all post-sale activities Work diligently toward a successful close
* When you notice a home advertised anywhere by any company, please contact me to view that home. Call on me to be the professional who shows the home to you and the person who negotiates in your best interest. Also, visiting open houses or new construction communities without me may preclude us from working together. I hope to earn your loyalty through hard work, superior service and personal care. Every great working relationship begins with trust, respect and mutual commitment.
WHY PRE-‐QUALIFY Before beginning the home search it is my recommendation that you meet with a qualified mortgage lender to discuss the loan programs that best fit you needs. You mortgage program will help us determine the homes we should look at.
OVERVIEW
of the Buying
We Meet to Discuss Your Needs & Wishes Meet With Lender For Pre-qualification
Process
The flow chart summarizes the steps involved in the home buying process. There are a lot of details to be handled when purchasing a home.
Select & View Properties
Write offer & Negotiate Title Company
Rejected Lender
ACCEPTED Inspections
Finalize Mortgage Application
Search Title Repairs Appraisal of Property
Title Commitment
Loan to Underwriting
Re-inspect Repairs Survey Closing
Approved
Fund Loan Keys Released
YOU MOVE INTO YOUR NEW HOME
Additional information and worksheets are included to make sure we find the right home, negotiate the best price and terms, and take care of all the details.
YOUR LIFESTYLE INTERVIEW
• What makes you comfortable in your current home? Is there anything you'd like to duplicate? __________________________________________________________________________________ 2. What is your primary reason for searching for a new home? __________________________________________________________________________________ 3. Tell me about your family and your interests and activities? __________________________________________________________________________________ 4. Do you entertain a lot? What areas of your home will you primarily use to entertain? __________________________________________________________________________________ 5. How long do you expect to live in the home? ____________________________________________ 6. Do you have any pets that stay in the house or outside? ___________________________________ 7. Would you consider yourself to be more casual or formal? _________________________________ 8. When you imagine your dream home, what do you see? What images come to mind? __________________________________________________________________________________ 9. Areas of Interest/location of office __________________________________________________________________________________ 10. School district(s) you prefer __________________________________________________________________________________ 11. Your favorite shops/conveniences __________________________________________________________________________________ 12. Recreational interests ___________________________________________________________________________________ House style___________________________ # bedrooms_________________ # baths________________ Living/Dining ____________ Fireplace __________ Home office ___________ Kitchen_________________ Garage stalls____________ Lot size_____________ Backyard____________________ Pool____________ Age of property_____________ View______________ Other requirements or comments: ______________________________________________________________________________________ ______________________________________________________________________________________
MAKING AN
OFFER
We ve found the home - writing the purchase agreement is the next step. Much of the purchase agreement is standard, but there are a few negotiable areas.
The Price What you offer on a property depends on a number of factors, including: § Property condition § Length of time property has been on the market § Buyer activity § Urgency of the seller Making a low offer can sometimes backfire as the seller may take this personally and refuse to negotiate.
The Move-in Date If you have flexibility on the date of possession, the seller may be more apt to select your offer over others.
Additional Property (Personal Property) Often major appliances are left in the home, however, which items stay or go may be a matter of negotiation. Typically you will not be present when the offer is delivered to the seller, therefore I will present your offer to the listing agent and/or seller. The seller will then do one of the following: • Accept the offer • Reject the offer • Counter the offer with changes • They could accept a competing offer By far the most common is the counter offer. In these cases, my experience and negotiating skills become powerful in protecting your best interests. If a counter offer is presented, you and I will review each specific area of the counter, ensuring your goals are met and the best possible price and terms are achieved.
CLOSING POSESSION &
Prepare for it Closing day marks the end of the buying process. To make sure your closing goes smoothly, bring the following: • A certified check for closing costs and down payment made payable to the title company • Photo IDs • Social security numbers • Your personal checkbook, just in case a calculation error is made and numbers change slightly.
Possession - When do you own it? Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are:
Delivery of all funds needed to close This includes the check or wire funds provided by your lender in the amount of the loan to the title company.
Delivery of the deed A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses. At the end of closing, the deed will recorded with the county clerk s office. A copy will be sent to you after processing (within 30 days).
PLEASE NOTE KEYS TO YOUR NEW HOME ARE NOT RELEASED TO YOU UNTIL FUNDING AND RECORDING HAVE OCCURRED. THIS MAY TAKE UP TO 72 HOURS.
CLIENT
TESTIMONIALS
Carolyn Parker
Absolute Confidence! It is with absolute confidence that I can recommend Mella Skow as a Realtor. In March 2008 she was my realtor for the sale of my home and purchase of my current home. Character traits that come to mind immediately when I think of Mella are: Trustworthy, Hard Working, Diligent, Accountable, Thoughtful, Honest, Practical, Knowledgeable, Forthright. If I put into words the positive experiences I had with Mella during this stressful time it would fill pages, more pages than you might be inclined to read. Just know that all of the aforementioned are true. She will work with you and for you like so few others will these days. I do not attach my name and reputation to another lightly, I stand by what I say and would refer her to anyone and have already done so with many close friends. All of whom have had a similar professional experience with her as I have. With my profound appreciation!
"Mella has tremendous positive energy. She is fun to
be around and works harder than any realtor we, or any of our friends, have ever known. Her staging sold our house in a day." Heather Knox & Scott Hubbard
Mella s outstanding customer service is unbeatable! We felt like her only clients. She was constantly keeping us notified of all events happening during our transaction in a manner that did not interfere with our busy lifestyle. Our transaction went incredibly smooth and it had a lot to do with Mella s Knowledge and constant attention. Mella and Vista Encantada Realtors gave us the capability to sign our documents via computer. That really helped with our busy schedules! Faxing was not an option for us. We highly recommend Mella Skow to anyone who likes first class service!
BENEFIT TO YOU … PROVEN TRACK RECORD
Tyson Family
CLIENT Â
TESTIMONIALS Â
Handy Family
There are several qualities that you possess that have and will support us in referring your services to others. There are almost too many to list. First, is your vision and advisement of staging a home for sale and the process in which you approach it. Second, is your guidance on pricing a home within the market. The combination of these two qualities you possess are the reasons we were able to sell our home in one day! This quick turnaround, which was not common in the current market, turned out to be necessary for us to meet our goals of purchasing our next home. Another quality of yours that we found very valuable was your ability to deal and communicate with a lot of different and strong personalities. There were a couple special ones along the way and you handled them all great. Though we discussed a lot, we are sure there were countless conversations you had behind the scenes to complete the sale and purchase of our homes. Your organization is another notable quality. This quality is extremely important yet not something that stands out in the forefront but that underlies everything. It is a reason I believe things could be done so quickly. It was also comforting to know that you had everything at your fingertips when needed as we were in a state of flux packing and moving. Overall, the work ethic and your attitude is outstanding. We can tell that you love your job and that came through in every conversation that we had. Your attitude was always positive even when things were not going in the direction we thought they should.
Mella you are the best, always accessible. You exceeded our expectations. At the beginning of the sales process you took all of the time needed to understand what we were in search of and to answer all of our questions. You presented many options to us. You were a great advisor and consultant to us in the process of making and offer and negotiation. We especially appreciated that you often played the "Devil's Advocate" to make sure that we were thinking of all angles. Even after the sale you have continued to exhibit an exceptional level of support - we really appreciate it. Dan & Adrienne Hill
ABOUT
MELLA
Born into a military family, I wish I could say that I spent my childhood traveling to exotic ports of call; but, as most military children will tell you, military bases are rarely found in exotic places. However, the skills and life lessons I learned from my parents and my childhood career as a military dependent have been invaluable and are the cornerstone of who I am. Those skills include the ability to: · Adapt quickly to change · Listen and be open to new ideas · Make friends quickly and value those relationships · Find the best in every situation · Enjoy what the world has given me · Stay organized · And most importantly - to laugh at myself Looking back now, with all my moving experience, a career in real estate makes perfect sense. Before real estate, I spent over 15 years as a Human Resources professional and independent consultant. But with the support and encouragement from my friend and Qualifying Broker (and her husband), I took a leap of faith. Besides marrying my husband, Ron, this has been one of the best decisions I have made to date. When I am not working with clients, I enjoy a wide variety of hobbies and spend as much time with my family as possible. I am the aunt to two of the most wonderful kids in the world and the godmother of my friend s precious daughter. I am the mother of the most amazing West Highland Terrier you will ever meet, the only problem is he (Baxter) has no idea he is a dog. My recreational activities include: Jazzercise, rock climbing, ice climbing, scrapbooking, and kicking back on the couch watching movies with my husband and furry little boy. I pride myself on my commitment to my clients and to my friends. Whether buying or selling a home it is a stressful time. Through the real estate process, my goal is to earn my clients trust and to develop an enduring friendship. My effort does not end when the transaction is complete. I remain in contact as a friend and as a connection to what is happening in the real estate market. I am never too busy to be of service to my clients and/or my friends. I look forward to working with you and building a valuable relationship. Your friend and Realtor®
Frequently Asked
?
QUESTIONS
How will you tell me about the newest homes available? The Multiple Listing Service website provides up-to-date information for every home on the market. I constantly check the New on Market list so I can be on the lookout for my clients. I will get you this information right away and in a way most convenient for you, by either phone and/or e-mail. Will you inform me of homes from all real estate companies or only Vista Encantada Realtors? I will keep you informed of all homes. I want to help you find your dream home, which means I stay on top of every home that's available in the market. Can you help me find new construction homes? Yes, I can work with builders and get you the information you need to make a decision. On your first visit with the builder, I will accompany you. By using my services with a new construction home purchase, you will receive the services I offer, as well as those the builder, at no additional cost. provided by How does for sale by owner (FSBO) work? Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the commission. If you
see a FSBO and want professional representation and the advantages of my service, let me contact the owner for you and make an appointment. Most times the homeowner will work with an agent, even though their home is not listed, since the agent is introducing a potential buyer to their property. Can we go back through our property again once an offer is made, but before possession? Usually we can notify the seller and schedule a convenient time to visit the property again. Immediately before the closing, we will schedule a final walk-through and inspection of your new home. Once my offer is accepted, what should I do? Celebrate and focus on moving into your new home! You will want to schedule your move, pack items, and notify businesses of your address change. I will provide you with a moving checklist to help you remember all the details.
Albuquerque Websites www.cabq.gov
The official website for the City of Albuquerque
www.Mesa.cabq.gov
Calendar of Events
www.ABQChamber.com
Chamber of Commerce
www.ahcnm.org
Hispano Chamber of Commerce
www.itsatrip.org
City Attractions
www.cabq.gov/gis/school.php www.aps.edu
Public Schools
www.cabq.gov/solidwaste/
Garbage Pickup
www.cabq.gov/onlinesvcs/ crimestats www.cabq.gov/police/asorna/
Crime Statistics Sex Offender List
www.cabq.gov/museum
Museums
www.BalloonFiesta.com www.albuquerqueoldtown.com
International Balloon Fiesta Historical Old Town
www.cabq.gov/gis/rec.php
Recreational Facilities
www.indianpueblo.org
Indian Pueblo Cultural Center
Rio Rancho Websites www.ci.Rio-Rancho.nm.us
City of Rio Rancho
www.rrChamber.org
Rio Rancho Regional Chamber of Commerce
www.newmexico.wm.com/riorancho/ index.html
Garbage Pickup
www.rrps.net
Public Schools
www.ci.Rio-Rancho.nm.us
City of Rio Rancho Mella Skow, 459-6419 MellaSkow@me.com
UTILITY CONTACTS
Mella Skow, 459-6419 MellaSkow@me.com
MOVING
Checklist
New Telephone Number: _____________________________________________________ New Address: _____________________________________________________ _____________________________________________________
Before you move, you should contact the following companies and service providers:
Mella Skow, 459-6419 MellaSkow@me.com
MORTGAGE
Lenders
Bank of Albuquerque
Waylon Gentry Loan Originator wgentry@bankofalbuquerque.com
Office: (505) 855-0533 Mobile: (505) 417-8619
Cummings Financial
Lisa or Scott Cummings Owners, Mortgage Brokers scott@cummingsfinancial.net lisa@cummingsfinancial.net
Office: (505) 884-8600
Pinnacle Mortgage
Dan Martin Mortgage Broker dan@pinnaclecapitalnm.com
Office: (505) 299-1550 Mobile: (505) 220-5325
This list of lenders is provided as a resource tool only and in no way cons.tutes a recommenda.on or endorsement.
STANDARD LOAN PROGRAMS FHA Loan -‐ First Time Conven.onal Loans 20% down payment, 80% Loan Home Buyer Programs
(Federal Housing Administra.on) 3.5% down (can be gi]ed), Seller may contribute up to 3%, strict guidelines for credit history, slightly higher interest rates
VA Loan – Program for Veterans Only
(Veterans Administra.on) Zero Down Loans, Loan Limits Apply
Mella Skow, 459-6419 MellaSkow@me.com
Interview Ques.ons
For Poten.al
LENDERS 5. Are you required to have an escrow account for insurance and property taxes?
1. What is your interest rate and payment amount for a 15, 20 or 30 year fixed note 2. What is your interest rate and payment amount for a 15, 20 or 30 year adjustable note? 2. What are the advantages/disadvantages of a fixed rate vs. adjustable rate? 3. Does the loan company have the following charges? If so, how much?
Applica.on Fee
$
Processing Fee
$
Origina.on Fee
$
Discount Points
$
Appraisal Fee
$
Credit Report
$
Tax Service Fee
$
Flood Cer.fica.on
$
Underwri.ng Fee
$
Miscellaneous Fees
$
6. If interest rates drop, after we submit our application for the loan and before closing, can we take advantage of the lower interest rate without being penalized? 6. If the property we are purchasing does not appraise for the sales price, can we still get a loan on the property?
What to bring to your first appointment with lender ❏ 2 years employment history and one month of most recent paycheck stubs ❏ 2 years tax returns and/or W-2 s (or 1099, etc.). If self-employed 3 years tax returns and YTD profit & loss statement ❏ 2 years paycheck stubs ❏ 3 most recent months of bank statements and investment statements ❏ Most recent bills (credit) with minimum amounts, account numbers, and contact information ❏ Copy of drivers license and social security card (green card or work permit) ❏ If applicable: Copy of complete divorce, palimony, and alimony papers
Mella Skow, 459-6419 MellaSkow@me.com
DOCUMENTS LENDERS
will ask for
q W-2 forms for all jobs held (last 2 years) q 1099 forms for all sources (last 2 years) q Last two (most recent) paycheck stubs for all jobs. Must have a thirty-day period covered. q Last two months (most recent) bank statements. We need EVERY page. If you provide printouts, the printout must identify the borrower, account number, institution, & financial institution s logo.
Last quarterly statement (most recent) for 401-k. Name, address, and phone number for landlord(s) past two years. Settlement statement (HUD 1) from the sale of home. Written explanation for gaps in employment. Letter of explanation for inquiries of the credit report. Letter of explanation for addresses that appear on your credit report that do not match application. q Federal Tax returns with ALL schedules (last 2 years) q Complete copy of the recorded divorce decree with separation agreement. q Documentation of receipt of child support / alimony covering the last twelve months. q q q q q q
(Must have a minimum of 36 months remaining to be considered income).
Transcripts for education received. Monetary Awards or Gift letter s. K-1's for ALL partnerships (last 2 years) If you plan access your 401k or sale of stocks for this transaction, loan officer must see documentation from your financial institution that funds have been deposited into your account. q Letter of explanation for bankruptcy, collections, foreclosures, judgments, and late payments. q Copy of the complete bankruptcy along with the discharge with list of creditors. FOR REFINANCES: q Copy of the Improvement location report also referred to as the survey. q Copy of the current Note for the first and second mortgage. q Copy of the current declaration page for homeowner's insurance. q Copy of title insurance policy. q Possibly copy of settlement statement (HUD 1) when home was purchased. q q q q
Mella Skow, 459-6419 MellaSkow@me.com