The Buyer Handbook by Nina Bjornstal

THE BUYER HANDBOOK Making your home purchase and move with ease

Nina Bjornstal, REALTOR C | 206.730.0962 nina@ninabjornstal.com www.ninabjornstal.com 1

Buyer Handbook Content

Page

Thank you

Welcome

How I partner with you

Why use a Buyerâ&#x20AC;&#x2DC;s Broker?

Real Estate Services

Getting Started Tips

Buying Process

Communication Plan

Buying Concerns

Coverage Area

What happens when you make an offer?

Frequently Asked Questions

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Client Testimonials

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Notes & Contact Information

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THANK YOU Thank you for taking the time to preview my qualifications. This informational handbook was prepared for you to answer any questions you may have about the buying process. The purchase of real estate represents a large financial commitment on your part. I recognize that purchasing a home is one of the most important decisions you will ever make. Therefore, I treat our relationship with the utmost care and respect. It‘s important for you to have representation during the process. When working with a buyer’s broker, remember: 

Typically there is no compensation required from you to have representation



Your broker can get you information and show you any listed property

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You can search for properties on your own, but you should involve your broker once you‘ve found a property of interest

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You can attend open houses without your broker, but be sure to quickly identify your agency relationship to the broker at the open house

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A Buyer Agency agreement details the working agreement between you and your Buyer‘s broker

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―Dual agency‖ is an option; be sure you understand the differences between traditional buyer agency and dual agency

If you have any questions about purchasing a home or would like me to be your broker, please give me a call at 206.730.0962. I want your home buying experience to be as easy and enjoyable as possible and will do everything I can to ensure you find the home that is right for you.

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WELCOME Nina Bjornstal | Real Estate Broker I joined RE/MAX Town Center in 2012 and offer both an outstanding level of real estate knowledge and an exceptional level of professionalism. I am a licensed real estate Broker, REALTOR and a regular top producer. I have participated in a range of real estate transactions including residential, condos and rental properties in King, Pierce and Snohomish Counties. My recognized relationships and local experience, combined with RE/MAXâ&#x20AC;&#x2DC;s national and international resources, present an exclusive benefit to my clients. I have lived in Seattle since 1986 and own a home in Shoreline where I relax and enjoy spending time with my friends, family and dog, Doug. I have sold, bought, flipped, held and remodeled many properties. My knowledge and past experience as a remodeling contractor and a real estate investor adds another level of expertise and value. One thing for sure, I am passionate about real estate. Navigating the multifaceted decisions needed in todayâ&#x20AC;&#x2DC;s real estate market requires a broker with dedication, experience, and professionalism. I am devoted to service with an emphasis on accountability, reliability, communication and enthusiasm. Especially during shifting market cycles, I provide my clients all the information they will need to help them make informed real estate investment decisions. The power of relationships and the experience to know how to get things done is the foundation of a successful real estate transaction. I am well regarded by my peers and have created valuable working relationships with other professionals in the business, including title companies, attorneys, lenders and appraisers.

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Buyer | How I Partner with You I pride myself on creating long lasting relationships with my clients—I would like to do that with you as well. My utmost goal is to help you make wise Real Estate purchasing decisions. In doing this I have to be honest, forthright, and sometimes point out negative things you may not see. This is all done to help you achieve the goal of making a wise Real Estate purchase and a wise Real Estate investment. I offer you the highest level of service by getting to know you and what your individual goals are, and by providing you an in-depth analysis of what is realistic in today‘s market, taking into consideration your needs, your timeline and the next step in your future. I offer personal service and I do not hand you off to anyone else. Communication is the key to our working together as a team. Once I have completed your analysis, I then provide you with ongoing research and information to give you the most options and choices that are available. I‘ll never rush you; this process may be quicker than you expected, or take much longer than you might want. Either way, we‘ll take as much time as you need. Even after we have found the perfect home, written an offer and closed the transaction, my true level of service shines through. I will not forget you after closing—I stay in touch with you for years to come providing you with up to date Real Estate reports, articles, information, and even an analysis of the home you purchased on an annual basis.

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Needs Analysis Interview Assistance with Lender Pre-Approval Daily Buyer Instant Home Match Notification Computer Property Match & Email Notification Personal Home Tours with Itinerary & Buyer Scorecard Comparative Market Analysis on Property Prior to Making an Offer Writing a Contract that Will Protect You Offer Presentation and Negotiation Coordination with Lender, Title Company and Escrow Company to Make Sure Your Accepted Offer Closes  Pending to Closing Calendar Presented to You Within 48 Hours of Mutual Acceptance

The key to my success is your success.

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Buyer | Why Use a Buyer‘s Broker? SELLER BROKER

BUYER BROKER

Arrange property showings

YES

Assist with financing

YES

Provide property data

YES

Explain forms / agreements

YES

SERVICES / DUTIES PROVIDED

Prepare property value study / CMA for any property you want to make an offer on

YES

Represent buyers on MLS listed properties, PLUS bank properties, auctions, for sale by owners and new construction

YES

Promote and protect interest of buyer at all times

YES

Advise the buyer even if it means pointing out reasons not to buy

YES

Disclose all research about the property history and liens

YES

Negotiate best price and terms in favor of the buyer

YES

Structure offer with buyer‘s interest in mind. Discuss strategy about the offer price, financing terms, interest rate and possession date

YES

Keep buyer‘s financial capabilities and thoughts confidential unless authorized to disclose

YES

Help you arrange for inspectors during the inspection phase of the negotiations

YES

Negotiate home inspection repairs in favor of the buyer

YES

Guide you through the escrow process to a successful close

YES

YOUR RESULTS

Sold!

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Buyer | Real Estate Services When it comes time to buy a home, finding the right home, in the right neighborhood, at a cost that fits your budget, is not an easy job. I am a licensed experienced professional with specialized skills. Here are the many benefits you receive when working me: I know the local market and can focus in on the areas that have the greatest possibilities for finding a home at the price you want.

service that provides access to thousands of homes for sale.

I will supply information and make appointments to To save you time, I will organize, expedite, and pro- see almost any property listed for sale. I know how vide the appropriate documents. Homes that donâ&#x20AC;&#x2DC;t to get detailed information, or an appointment, even meet your specific needs are removed. if the house is not listed with another RE/MAX Town Center broker. I will make appointments, preview homes with you, and help you determine which homes best fit your When you find the right home to buy, I will guide needs. you through the negotiation process, the legal process, and the details that follow. I have access to the multiple listing service (MLS), a

Buyer | Getting Started Tips The key to finding the right home is organization. Here are some tips to help you get started: Make notes as you look at the home. Some people even take photos on their phones to remember which features go with which home. When you do choose a home, in order to make sure the home is structurally sound, you should have the home inspected. I would be happy to provide you with a list of home inspectors you can contact. The inspector will look for large repairs that are needed and report on the condition of the home. Once youâ&#x20AC;&#x2DC;ve found the home you want to buy, together weâ&#x20AC;&#x2DC;ll complete a purchase and sale agreement. Before you start house-hunting, decide out how much house you can afford. If you will be obtaining This is the contract in which the seller and the buyer a loan, I can refer you to a loan officer to pre-qualify outline the details of the property transfer. you for your home loan. A closing date is jointly agreed-upon during the negotiation stage of the transaction. Before closing, Prioritize what is most important and what is least important in a home. Make a list of everything you the closing agent (usually an escrow company, title want in a home. We will go over your list, so I know company or attorney) will complete a thorough settlement statement for both buyer and seller. exactly what you need in your home.

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Buyer | Buying Process The Buying Process has many different steps. It is not simply a matter of finding a house, writing an offer on it, taking money to closing, and moving in. There are many important steps that must be adhered—listed below are the most important ones. It is my role to orchestrate the successful execution of each one of these steps:        

Getting Pre-Approved or Pre-Qualified Determining your wants and needs The Search Begins Reanalyzing your wants and needs The Search Continues - Previewing Properties New Properties On The Market Proactive Search Determining Your Offering Price

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Writing The Offer Negotiating With The Sellers Home Owners Association Title Commitment Inspection Resolution Appraisal Closing Possession

Buyer | Communication Plan No two clients are the same, and I don’t expect everyone to like the same type of communication! Some buyers like to be communicated with daily, some weekly. Some via phone, some email, and some in person. When communicating with me, here‘s what each option looks like: My phone or text communication plan: We‘ll talk weekly (but also immediately if needed) when new listings come on the market (or have a price reduction). I‘ll also email you the listings and then give you a call so we can make a plan to see the listings that appeal to you. We‘ll text to confirm showings and appointments. My online communication plan: I will send you listings daily or weekly via email. You and I will communicate online about the ones you would be interested in looking at, and schedule an appointment to see them. My live communication plan: We‘ll meet on an as needed basis—or perhaps more often-- if something comes on the market that I think fits your criteria to a "T". We will discuss and I will show you a preview of the homes that meet your needs, then we will make a plan to go out and tour them. How would you like me to communicate with you? ___Daily ___Weekly ___Monthly ___Via text ___Via the phone ___Via email __In person

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Buyer | Buying Concerns I’m eager to have you share your concerns and expectations about buying your home. From the list below, please check any items that may cause you concern:  My Buyer qualifications?

 Inconvenience?

 Financing?

 Closing costs?

 Commissions?

 Closing Timeline?

 Selection Options?

 Pricing?

 Environmental Concerns?

 Mortgage Assistance?

 Negotiations?

 Viewing Schedules?

 Inspections?

 Location?

 Schools?

 Investment Value?

Write-in any other concerns not mentioned above: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________

Buyer | Coverage Area I cover a wide territory that allows me the most variety of homes for my clients. Many are first time home buyers that would like to view a variety of home styles, sizes and neighborhoods. My knowledge of several areas allows me the flexibility to do so. Recently my Real Estate territory has included the following cities in north King County and Snohomish County: Shoreline, Edmonds, Lynnwood, Mill Creek, Bothell, Everett, Marysville, Kirkland, Juanita.

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Buyer | What Happens When You Make an Offer on a Home? Once we make an offer on a home it is my job to make sure that your offer is accepted, carefully executed, every detail of your transaction is completed, and adheres to the strict time schedules of your contract. The Offer and Contract  When the offer has mutual acceptance, I deliver copies of the fully-signed contract to all parties and escrow.  If not part of the contract, I‘ll return a signed copy of Seller Disclosure Form to listing broker.  I‘ll record and promptly deposit your earnest money.  I‘ll provide copies of the signed contract for the office file.  I‘ll track all dates in the contract, making sure that you are meeting all agreed-to deadlines.

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I‘ll alert the seller‘s broker when the appraisal has been completed.

Closing Preparations and Duties  I‘ll confirm you have received the title insurance commitment.  I‘ll coordinate the closing process with you, the seller‘s broker and escrow company.  I‘ll update closing forms and files.  I‘ll ensure all parties have all forms and information needed to close the sale.  I‘ll coordinate the closing location with you and the closing agent. Tracking the Loan Process  I‘ll assist you in finding a moving company and  I‘ll touch base with you weekly to ensure your track possession date to confirm move-in date. loan is processing on track.  I‘ll work with the seller‘s broker in scheduling  I‘ll relay final approval of your loan application and conducting your final walk-thru prior to to seller‘s broker. closing.  I‘ll request final closing figures from the closing Home Inspection agent.  I‘ll coordinate your professional home inspection  I‘ll receive and carefully review closing figures to you or you may select a licensed professional of ensure accuracy of preparation. your own choice. Broker must be at inspection.  I‘ll request a copy of closing documents from  I‘ll review your home inspector‘s report and closing agent. discuss issues with you.  If a Home Warranty was purchased, deliver claim  I‘ll draft an inspection response to sellers based forms/directions to you. on your requests; then negotiate work items with  I‘ll review all closing documents carefully for seller‘s broker and seller. errors.  I‘ll recommend contractors to perform any  If you‘re buying and selling, I‘ll coordinate this negotiated or required repairs. closing with your sale (if necessary) and resolve  I‘ll oversee the completion of all required repairs any timing problems. on your behalf, if needed.  I‘ll have a ―no surprises‖ closing by closely tracking all the details with all parties. The Appraisal  I‘ll confirm with your lender that appraisal is scheduled.  I‘ll follow up with you and your lender on the status of the appraisal.

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Buyer | Frequently Asked Questions Many buyers do not fully understand the home-buying process and the role of a real estate broker. Here are some of the most often asked questions brokers receive from buyers:

representative of both the buyer and the seller.

What is a “Buyer Agency Agreement”? A ―buyer agency agreement‖ is a contract between a buyer and a real estate broker. Contracts can vary in length, and can include or exclude certain geographical areas. The buyer agency agreement lays out the commitments of the buyer to the broker, and of the broker to the buyer. Is it expensive to use a buyer’s agent? The compensation that a buyer‘s broker (also called the ―selling broker‖) receives typically comes from the seller‘s proceeds and is a percentage of the total commission charged by the listing company. That information is available to me through the Multiple Listing Service (MLS). In such a case, there is no cost for a buyer to be represented by a broker.

When you are working with an broker who is acting as a dual agent broker, you have lost your strong ―advocate‖ in the buying process. In addition, buyers usually meet dual agent brokers at open houses – meaning that the broker has already developed a strong working (and contractual) relationship with the seller. In such a case, it‘s human nature that the broker is going to feel a stronger responsibility to negotiate on the seller‘s behalf. Since the seller has already agreed to compensate a broker as part of the listing agreement, it only makes sense for you to find a broker who is solely committed to being your advocate. The practice of dual agency, when not performed correctly, is one of the leading causes of real estate litigation. What type of information will my broker need from me? To do the best job for you, your broker will need the best information you can provide.

If a buyer is interested in purchasing a property This would include such things as: not listed in an MLS, it is possible that the seller  preferred price range will not compensate the buyer‘s broker. In this  number of bedrooms / bathrooms case, a buyer agency agreement would detail the  style of home (single-story, two-story, etc.) buyer‘s obligation to compensate their broker.  size of yard Typically, even with unlisted properties, the seller  preferred school districts compensates the buyer‘s broker.  geographical areas / neighborhoods of interest What is a dual agent and should I work  special needs / special interests which your with one? home needs to accommodate ―Dual agency‖ refers to the practice of a single broker representing both the buyer and the seller Keep in mind that a very specific set of criteria during the real estate transaction. When a broker may narrow your list of potential properties, while acts in a dual capacity, they owe the same a very broad list may lead to an overwhelming fiduciary responsibility to both parties. Most number of properties to view. states have a required brochure or pamphlet which details the responsibilities of buyer‘s How can I find out about new properties? broker, seller‘s brokers, and dual agency brokers. Your broker can work with you to determine how Buyers considering the use of a dual agent broker often you want to receive updates on available should pay particular attention to the difference homes, and by what method (telephone, email, in responsibilities when a broker acts as a

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Buyer | Frequently Asked Questions snail mail). Clients using email can receive automatic updates from most MLS systems as soon as new listings are entered.

saves you time, as once your broker knows you well, they will not show you homes they know will not work for you. Finally, it‘s a difficult situation for a broker to work with a buyer who is working with multiple real estate brokers; without a commitment from you to work with just one broker, it‘s not likely that the broker will do their best work for you.

Can my broker provide information on properties listed with other companies? Yes, provided your broker is a member of the MLS where the property is listed. Some communities have more than one MLS, so it‘s important to find out which MLS(s) your broker subscribes to.

The exception to this situation is a buyer who is looking in a large geographic area. If you are looking for property outside the market area your broker specializes in, ask them for a referral to a broker in another area(s). That way, both brokers are in communication during the home search, allowing them to partner in finding you the right property.

What if I find a property on my own? With the advent of the internet, many buyers have begun searching for – and often finding – properties of interest while working with a broker. If you have a broker, contact them with the address or the MLS number of the property in question. Your broker can then contact the broker of the property. It is never appropriate for you to contact the seller of the home directly if it is a listed property; you also should not contact the listing broker directly.

What if I am unhappy with my broker? Let your broker know that you‘re unhappy, and the reasons why. It may be a simple misunderstanding that can be corrected. If the issues are more substantial, or the relationship simply isn‘t the right ―fit‖, tell the broker you no Can I go to open houses without my broker? longer wish to work with them. If you have a Yes. However, when meeting the broker hosting buyer agency agreement with your broker, you the open house it‘s best if you immediately will need to provide a written cancellation of the identify yourself as working with another broker. agreement. If you don‘t, your broker might not be able to help you write an offer on that property in the Don‘t let a less-than-perfect relationship keep future. you from finding another broker to work with. Buying and selling Real Estate are complex Can I work with more than one broker? transactions, and it‘s important that you have a Sometimes buyers think that having more than broker to represent your interests. one broker ―working for them‖ means they‘ll have more sets of eyes looking out for the perfect home. The reality is that brokers all have access to the same database of homes on the market—the MLS. Working with just one broker also allows that broker to spend enough time with you to really get to know you and your wants and needs. They‘ll be able to ask questions as they show you homes, helping you refine your parameters as you go. Having one broker also

You Deserve The Best!

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Client Testimonials WOW! AMAZING! FABULOUS! Nina is what every Realtor should be! What every home buyer or Seller needs for a ―painless‖ experience. She is most patient, thoughtful, honest and most knowledgeable. Nina helped our daughter buy her first home. The process was extremely long due to this market and trying to find a home she could afford and maintain! Nina never gave up on us and always had a smile and positive words! I would and DO recommend her highly to anyone needing help in the real estate world. Thank you Nina for your expertise and a very special friendship! I've personally worked with hundreds of agents over the years as a photographer, so when it came time to buy/sell a new home for our family, my goto was Nina. Nina is not just a great person to be around, but someone who you can trust to offer sound guidance for one of the biggest financial/stressful periods of your life. She‘s got a handle on all the complicated negotiation things in the background, while somehow being the calmest most relaxed person in the room. Nina is a complete package, and we found that her previous home building experience was extremely useful in our year-long new construction project. She was a great resource for assisting with design studio meetings, guiding us in how to avoid potential issues, and even just random ‗what is this‘ questions that pop-up in construction. One thing that also sets Nina apart is her great design background. We were really impressed with her amazing binders when selling our house, complete with beautifully designed multi-page handouts, postcards, and expert marketing approach. I haven‘t seen another agent really take the time and care that she does when selling a house. You really get that individual treatment, and it was effective- we sold our home in the first weekend along with a fantastic offer. Thank you Nina for such a great experience!

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We bought in one of the most competitive markets at the most competitive time. Nina was patient, knowledgeable, and always kept us in the loop. Finally, by our TENTH offer, we got our dream home. By that time, Nina was no longer just our agent, she was our friend. She even came to our wedding! We would recommend Nina to anyone, over and over again (and we did, to our neighbor), and she told their home for them! I would highly recommend Nina to anyone purchasing or selling a home. Nina kept in great contact with me and my wife through our home buying experience. She has a wonderful attitude and definitely makes her clients a number 1 priority. Nina was fantastic!!! She helped us months before we were ready getting our old house ready to sell. She helped us fix up what was needed and talked us out of things that wouldn‘t help. She hired a fantastic professional photographer that made our house look amazing! Through Nina‘s great pre-list, marketing & open houses, we sold in just a few days 5% above list in an area that was not too hot. On the flip side, Nina really got to know our preferences while we were looking for a new home and really started narrowing it down each time we went looking. I liked that she was really trying to observe what we liked in areas, features, etc. And then in both transactions, she worked tirelessly to make sure both closed. The buyer‘s agent for our house we were selling basically disappeared so Nina picked up the slack to make sure that everything went through. Nina communicated proactively with all parties: lending, title, other realtors, home inspector, etc. I cannot say enough wonderful things about her and I brag about her to everyone when we talk about our transactions!

Client Testimonials Nina is a wonderful agent who is extremely patient and knowledgeable about her business and the market trends. I worked with Nina for almost 2 years as a buyer and she helped guide me through every step of the process as a first time homebuyer. I highly recommend Nina, and am grateful to have had such a positive experience with my first home purchase, and to have made such a great friend in Nina! Thank you for everything Nina! Nina is a great agent and a wonderful helpful person. She helped our daughter buy her first house and was amazingly patient throughout the entire process. She has also helped friends buy a new home. She took the time to get to know our tastes and life style and is currently keeping an eye out for further opportunities for us. Always on time, always available, great to work with and really knows the market and the area. Nina‘s knowledge on home construction is an asset. I would and do recommend her without reservation. I couldn‘t have asked for a more competent and dedicated realtor. As a first time home buyer, Nina helped me navigate my way through what could have been a very daunting process. Even when we encountered those snafus that can arise at anytime while buying a home, Nina remained responsive and enthusiastic; I never doubted she was my advocate. I wholeheartedly recommend Nina to anyone looking to buy a home; whether you‘re a newbie like me, or a seasoned home buyer. Nina worked tirelessly to find the perfect home for me. My parameters were fairly relaxed, but my tastes were quite specific and Nina intuitively honed in on properties that were a good fit. She

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was patient with the process and held my hand when needed. In the end, I have a home I am very happy with and within budget. However, Nina‘s strongest asset has been her knowledge of the industry and her network of friends and business referrals. From Inspectors to roofers to finance companies her help with these was invaluable. I cannot recommend her highly enough. THANK YOU, NINA Nina has a very positive attitude and is willing to tackle the any issue raised by the seller, loan officers, or escrow/title personnel. I was very impressed with her knowledge of her profession, tenacity, and creative approach to problem solving. In my particular situation I had a very limited time to make the purchase and would have incurred a significant financial penalty had the transaction not been successfully completed on time. It seemed that every time we thought the deal was struck the seller created another roadblock. The most significant of course was regarding a sewer assessment that I thought was impossible to solve. Throughout our transactional process Nina always exemplified the professional, capable, model of a Realtor. Her willingness to ―baby sit‖ me and the cleaning staff on numerous occasions prior to closing was above and beyond. In addition, she was very generous and demonstrated her appreciation for my business with appropriate thoughtful appreciation gifts. She also worked with my daughter who is a RE/MAX Agent to provide a referral fee. I guess what I‘m trying to say is that I can‘t think of anything that Nina could have done better. I am very impressed.

Notes

Nina Bjornstal represents: RE/MAX Town Center 15117 Main Street B106 | Mill Creek WA 98012 Cell: 206.730.0962 | Office: 425.224.8400 nina@ninabjornstal.com ninabjornstal.com nina.viewseattlehomelistings.com facebook.com/ninabjornstalrealestate twitter.com/ninabjornstal pinterest.com/ninabjornstal youtube.com/user/ninabjornstal linkedin.com/in/nina-bjornstal-1217362

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Nina Bjornstal, REALTOR | C 206-730-0962 nina@ninabjornstal.com | www.ninabjornstal.com facebook.com/ninabjornstalrealestate | twitter.com/ninabjornstal 16