YOUR {COMPANYBUYING A GUIDE TO SLOGAN} HOME Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
TABLE OF CONTENTS • It’s All About You • Our Working Relationship • The Home Buying Process • Your Lifestyle Interview • Your Home Wish List • The Neighborhood of Your Dreams • The Mortgage and Loan Process • The Ten Commandments • Your Home Search • Making An Offer • Contingencies and Deadlines • Inspection • Closing 101 • Moving Checklist • Utility and Communication Companies • Why Keller Williams Realty • Experience • What My Clients Say • Frequently Asked Questions • Client Services Pledge • Glossary • Want to Know More? • Contact Me Cover photo: www. nucth. physics. wisc. edu Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
IT’S ALL ABOUT YOU. My real estate business is built around one guiding principle: It’s all about you! My entire focus is on your complete satisfaction. I want you to be so pleased with the experience of working with me and my team, that you will want your friends and associates to receive the same level of service. Seventy-two percent of my business comes from repeat customers and referrals to their friends and families, and that’s the way I like it! My goal is to exceed your expectations in every step of the home selling process, in order to earn the privilege of becoming your Realtor ® for life! • Your needs • Your dreams • Your concerns • Your questions • Your finances • Your time Eighty-two percent of home sales are the result of agent connections. Source: National Association of Realtors® • Your life Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
OUR WORKING RELATIONSHIP The way I work with Buyers is as a Buyer’s Agent. Entering into a Buyer Agency contract with you allows me to legally work in your best interest, putting your needs ahead of the Seller’s needs. I can then (and only then) work to your advantage, helping you: • Analyze price and condition • Offer strategies and negotiation • Navigate inspection issues • Guide the financing process • Guide closing details I can even represent you on the purchase of a property that is For-Sale-By-Owner (“FSBO”). It’s FREE! Most Sellers (at least those listed on the MLS) have already agreed to pay a Buyer’s Agent, so it typically doesn’t cost you a thing to hire me to work for you. Without a formal Buyer Agency relationship, my hands (and lips) are tied. Legally, I cannot even give you my opinion about the house or the asking price! Here’s a hint: It’s a whole lot better if I can help you! New laws do allow us to “date” before you decide to enter into a Buyer Agency contract with me. I will take you out on a house-hunting trip and we’ll get to know each other a bit. After that, we’ll decide if we want to work together. It will be a “business decision” for both of us, to commit to each other. I promise to give your home search my best effort, utilizing my 18 years experience to get the job done for you efficiently and professionally, even with a bit of fun! In return, I will ask for your loyalty to me as your agent. In other words, if you see a house, a sign or an ad that interests you, please call me, not another agent. I appreciate it! Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} THE HOME BUYING PROCESS This overview summarizes the steps along the path of qualifying, finding and buying a home. It’s my job to streamline the steps for you, ensuring everything is completed according to plan. I have included additional information and worksheets to make sure we find the right home, negotiate the best price and terms and take care of all the details: Consultation to analyze your specific needs and wishes • Your lifestyle interview • Your home wish list • The neighborhood of your dreams Financial Pre-Approval • The mortgage and loan process Select and View Properties • The Home Tour Write an Offer to Purchase • Making an offer Negotiate the Offer to Purchase • Making an offer Final Mortgage Application • The mortgage and loan process Underwriting and Loan Approval • The mortgage and loan process Title Company • The mortgage and loan process • Closing 101 Closing • Closing 101 Moving • Moving Checklist • Above and Beyond Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} YOUR LIFESTYLE INTERVIEW A home is about more than the number of bedrooms or bathrooms. It’s about how you feel when you’re in it. To pinpoint the type of home you’re looking for, consider the following questions: What makes you comfortable in your current home? What would you like to duplicate? ______________________________________________________________________________ What is your primary reason for searching for a new home? ______________________________________________________________________________ Do you have children? What are their ages, interests and activities? ______________________________________________________________________________ Do you entertain a lot? What areas of your home will you primarily use to entertain? ______________________________________________________________________________ Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} YOUR LIFESTYLE INTERVIEW A home is about more than the number of bedrooms or bathrooms. It’s about how you feel when you’re in it. To pinpoint the type of home you’re looking for, consider the following questions: How long do you expect to live in the home? ______________________________________________________________________________ Do you have any pets that stay in the house or outside? ______________________________________________________________________________ Would you consider yourself to be more casual or formal? ______________________________________________________________________________ When you imagine your dream home, what do you see? What images come to mind? ______________________________________________________________________________ Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} YOUR HOME WISH LIST Creating a list of the desired features and amenities for your new home will help me target the properties that meet your criteria. Please consider the following and record any notes or preferences: House Style Kitchen Number of Bedrooms Basement Number of Bathrooms Garage Stalls Living Room Lot Size Dining Room Pool Family Room Age of Property Fireplace View Home Office Fencing Other requirements or comments: _____________________________________________________________________________ Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
THE NEIGHBORHOOD OF YOUR DREAMS More than just the home, it’s important to think about the type of neighborhood that is right for you. In fact, I argue that the location can be even MORE important than the house itself. With that in mind, please consider the following: Areas you would enjoy Specific streets you like School district(s) you prefer Your work location(s) Your favorite shops/conveniences Recreational facilities you enjoy Any additional items to consider Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
THE MORTGAGE AND LOAN PROCESS Financial Pre-Approval • Application and Interview • Buyer provides pertinent documentation, including verification of employment • Credit report is requested Underwriting • Loan package is submitted to underwriter for approval Loan Approval • Parties are notified of approval • Commitment letter is delivered to Seller • Loan documents are completed and sent to title company Title Company • Title exam, insurance and title survey conducted • Borrowers come in for final signature (the “closing) Funding • Lender reviews the loan package • Funds are transferred by wire or check Pre-approval will help you in the following ways: • Generally, interest rates are locked in for a set period of time. You will know in advance exactly what your payments will be on offers you choose to make. • You won’t waste time considering homes you cannot afford. • A seller may choose to make concessions if they know that your financing is secured. You are like a cash buyer and this may make your offer more competitive. • You can select the best loan package without being under pressure. Keller Williams Realty strives to offer the services that will meet your needs throughout the home buying process. Enjoy the convenience of one-stop shopping through our preferred lending partners, who meet our rigorous standards of quality service and integrity: Waterstone Mortgage: Dave Grauwels (608 -662 -9581) or Kathy Jasper (608 -662 -9582) Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
THE TEN COMMANDMENTS – LOAN APPLICATION 1. Thou shalt not change jobs, become self-employed or quit your job. 2. Thou shalt not buy a car, truck or van (or you may be living it it!) 3. Thou shalt not use charge cards excessively or let your accounts fall behind. 4. Thou shalt not spend money you have set aside for closing. 5. Thou shalt not omit debts or liabilities from your loan application. 6. Thou shalt not buy furniture. 7. Thou shalt not originate any inquiries into your credit. 8. Thou shalt not make large deposits without first checking with your loan officer. 9. Thou shalt not change bank accounts. 10. Thou shalt not co-sign a loan for anyone. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
YOUR HOME SEARCH I love helping buyers find their dream home! That’s why I work with each client individually, taking the time to understand their unique lifestyles, needs and wishes. This is about more than certain number of bedrooms or a particular zip code. This about your life and it’s important to me. When you work with me, you get: • A knowledgeable and professional REALTOR® • A committed ally to negotiate on your behalf • The backing of a trusted company─Keller Williams Realty I have the systems in place to streamline the home buying process for you. As part of my service, I will commit to helping you with your home search by: • Previewing homes in advance on your behalf • Narrowing the selection of available homes to focus on the “best picks” • Personally touring homes and neighborhoods with you • Keeping you informed of new homes on the market • Helping you preview homes on the Internet • Advising you of other homes that have sold and for how much • Working with you until we find the home of your dreams Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} MAKING AN OFFER Once you have found the property you want, we will write a purchase agreement, or “Offer to Purchase. ” While much of the agreement is standard, there a few areas we can negotiate. The Price What you decide to offer on a property depends on a number of factors, including condition of the property, length of time on the market, buyer activity, the urgency of the seller and your desire to own the home! While some buyers want to make a very low offer, just to see if the seller will accept, this often isn’t a smart strategy. As your Buyer’s agent, I will help you determine the true market value of the home and suggest the best strategy for getting the home you want at a fair price. The Move-In/Closing Date If you can be flexible on the possession date, or match the preference of the seller, your offer will be favored. I will inquire as to their preferred closing date prior to drafting an offer. Additional Items Included We will list any items of personal property that are to be included with the sale, such as appliances. Other Contingencies If you have a home to sell prior to closing, or other specific requirements that must be met prior to closing, we will draft appropriate language to incorporate those contingencies. 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 (continued) Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} MAKING AN OFFER (CONTINUED) The most common response is the counter offer. In these cases, my experience and negotiating skills become powerful in representing your best interests. When a counter offer is presented, you and I will work together to review each specific area of the counter offer, making sure that we move forward with your goals in mind, ensuring we negotiate the best possible price and terms on your behalf. We will have the option to accept the counter offer, reject the counter offer or counter back to the seller again, with changes. Once the offer is accepted, after appropriate celebration, we will begin to work through the contingencies of your offer. These are the tasks that must be “satisfied” or completed prior to reaching the closing table and actually purchasing the home. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} CONTINGENCIES AND DEADLINES A successful real estate transaction hinges on numerous details involving deadlines that must be met so that you can move into your new home as soon as possible. Once your offer is accepted, we will provide you with a summary list of deadlines related to your purchase transaction. We will communicate with you to make sure that all of these deadlines are met on time! TO DO DATES COMPLETED Earnest money submitted Loan Application: ● The application fee may be due at this time. Schedule inspection date and time Inspection amendment proposed─ ● All items from inspection that you wish to be repaired/negotiated Home Owner’s Insurance: ● You are required to arrange for insurance coverage and to inform your mortgage company of your agent’s name and phone number. Loan Approval Cancel/Set Up Utilities Closing Date Please Note: During the loan and home-buying process, you will be asked to supply documentation, respond to phone calls requesting information, schedule dates into your calendar, etc. Also, note the “Ten Commandments” list! Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} INSPECTION If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection. The inspection will include the following: • Appliances • Plumbing • Electrical • Air Conditioning and Heating • Ventilation • Roof and Attic • Foundation • General Structure The inspection is not designed to criticize every minor problem or defect in the home. It is intended to report on major damage or serious problems that require repair. Should serious problems be indicated, the inspector will recommend that a structural engineer or some other professional inspect it as well. The inspection will generally result in the creation of a “honey-do” list or future maintenance list. I will help you determine which items are “defects” as defined in our Office to Purchase. Your home cannot “pass or fail” an inspection, and your inspector will not tell you whether they think the home is worth the money you are offering. The inspector’s job is to make you aware of repairs that are recommended or necessary. The seller may be willing to negotiate completion of repairs or a credit for completion of repairs, or you may decide that the home will take too much work and money. A professional inspection will help you make a clear-headed decision. (continued) Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} INSPECTION (CONTINUED) In addition to the overall inspection, you may wish to have separate tests conducted for the presence of radon gas or lead paint. In choosing a home inspector, it is required that they are a Wisconsin-registered home inspector. I can certainly provide reliable references for home inspectors. I highly recommend being present at that inspection. This works to your advantage. You will be able to clearly understand the inspection report and know exactly which areas need your attention. Plus, you can get answers to many questions, tips for maintenance and general information that will help you once you move into your new home. Most importantly, you will see the home through the eyes of an objective third party. The inspection is also a great time to take measurements and take photos so you can prepare for your projects! Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} CLOSING 101 What is the Closing? Closing day marks the end of your home buying process and the beginning of your new life! The closing is simply the hour-long meeting, held at the title company, where: • The Buyers (you) sign their loan documents • The Seller signs the deed to the property over to you, the new owner. • The Realtors are paid and the Seller receives their check for the proceeds from the Sale. Prepare For It To make sure your closing goes smoothly, you should bring the following: • A certified check for closing costs and down payment. Make the check payable to yourself and endorse it to the title company. • An insurance binder and paid receipt • Photo Identification • Social Security numbers 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 the buyer funds: This is the check or wire funds provided by your lender in the amount of the loan. • 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 be taken and recorded at the county clerk’s office. It will be sent to you after processing. Since the deed is recorded, it is not necessary to safeguard it. Check out my blog entry, “The Closing Process, ” for more information on this topic. yourmovingexperience. wordpress. com Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} MOVING CHECKLIST New Telephone Number: New Address: Before you move, you should contact the following companies and service providers: Utilities Insurance Companies _______Electric _______Telephone _______Water _______Cable/Internet _______Gas _______Accidental _______Auto _______Health _______Home _______Life _______Renters Professional Services Business Accounts _______Broker _______Accountant _______Doctor _______Dentist _______Lawyer _______Banks _______Cellular Phone _______Department Stores _______Finance Companies/Credit Cards Government Subscriptions _______Internal Revenue Service _______Post Office _______Schools _______State Licensing _______Library _______Veterans Administration _______Magazines _______Newspapers _______Netflix Clubs _______Health & Fitness _______Hair Stylist Miscellaneous _______Business Associates _______House of Worship _______Drug Store _______Country Club Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} UTILITY & COMMUNICATION COMPANIES Gas & Electric Madison Gas & Electric: Residential Service 24 -hour Emergency Gas Leaks 608 -252 -7222 608 -252 -1111 Other Providers Alliant Energy WE Energies Stoughton Utilities Sun Prairie Water & Light 800 -ALLIANT 608 -242 -9137 608 -873 -3379 608 -837 -5500 Cable TV/Internet Charter Communications TDS DISH Network 800 -581 -0081 866 -571 -6662 888 -358 -1583 AT&T Century Tel Charter Communications TDS Telecom Verizon (preferred in Belleville) 800 -222 -0300 608 -229 -7800 800 -581 -0081 866 -571 -6662 800 -606 -8855 Telephone Water & Sewer Title company automatically notifies municipality of change in ownership. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} WHY KELLER WILLIAMS REALTY As part of the Keller Williams Realty team, I look forward to providing you with a phenomenal real estate experience! There is a reason more and more agents are making the change to Keller Williams Realty. Here's why it matters to you: Knowledge Powerful curriculum through Keller Williams University keeps us ahead of trends, tools and advancements in the real estate industry. Speed Leading-edge technology solutions accelerate our efficiency and productivity. Teamwork Contrary to other real estate companies, Keller Williams Realty was designed to reward agents for working together – to serve clients better. Reliability Keller Williams Realty was founded on the principles of trust and honesty, emphasizing the importance of having the integrity to do the right thing and always putting the customers needs first. Success Keller Williams Realty is the fastest growing real estate company in North America. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} EXPERIENCE I am a 1989 honors graduate of the University of Wisconsin-Madison, with a B. S. in Interior Design. It comes in very handy! I have been actively selling Madison real estate since 1991. I was affiliated with the largest local company for my first 11 years, then joined Keller Williams Realty International in January, 2003. I was among the group of 19 agents who opened the first Keller Williams office in the State of Wisconsin. Just a few years later, our Madison West office is now the single, highest-producing real estate office in the state (all firms). Wahoo! In 2009, my sales volume ranked in the top. 4% of all agents in the South Central Wisconsin MLS—comprised of over 2, 500 agents. My primary focus is working with Buyers and Sellers of single-family homes and condominiums on the west side of Madison and neighboring communities. I also enjoy condominium development and income/investment properties. My administrative manager Stacey Mc. Williams is “quality control, ” tackling the infinite transaction details and caring for our clients. “Marketing Marc” Rodriguez is the master of all things marketing (and an amazing technology geek). Together, we are an efficient, organized team and are able to respond quickly to our clients’ needs. My Seller and Developer clients appreciate my attention to detail, my clear and prompt communication and my genuine concern for their bottom line. My Buyer clients and Realtor® peers thank me for my straightforward approach, my integrity, my competence and my accessibility. I love what I do and it shows! My personal life is very fulfilling as well. My husband John and I have been married for 17 years. John recently graduated from UW Madison with a degree in Earth Science education. We share our lives with our three crazy sons—Jeremy, 24, a Navy pilot, Evan, 14 and Ryan, 12. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} WHAT MY CLIENTS SAY… “You were great! Always quick to respond to my call or email. Great feedback on showings too! I would highly recommend you and I have!” ─Carleen W. “Your honest remarks were helpful and you answered our questions. ” ─Jane & Larry “Fantastic service! You are a very energetic, authentic person who really cares about your job and others. Your passion is contagious. ” ─Erin & Finn “Thank you! You made the experience comforting and not scary!” ─Lisa H. “Excellent feel for the market and neighborhoods. Great instincts about sales situations. ” ─Joe T. “Professional and fun made it an enjoyable experience. ” ─Matt W. & John S. “Jenny is very professional and knowledgeable about real estate in Madison. ” ─Mary & Randy “You provided nothing but top-notch service to my family. Thank you for everything!” ─Noelle & John “Jenny is very good at marketing…the word about our home was everywhere. ” ─Melissa & Bryn Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} 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 for new listings that fit your particular search parameters. I will get you this information right away the way that is most convenient for you, by phone and/or e-mail. The “real” MLS database I can access is far more current than any of the “public” search websites. Will you inform me of homes from ALL companies or only Keller Williams? I will keep you informed of ALL homes. I want to help you find your dream home, which means I need to stay on top of every home that's available in the market. I am able to work cooperatively with all real estate companies. In other words, if you see another company’s sign or ad, please call me. 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 some of the commission. If you see a FSBO and want the advantages of my services, please 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. They will still save the “listing” commission, and are often relieved to have an experienced agent involved to guide the process, from offer to closing. Just as in other scenarios, you will definitely want to be represented by a qualified Buyer’s agent. What if I see a sign or an advertisement from another company? Call me! I can quickly get all of the information you need, on any listed property. I can show you the home and help you purchase the home if you decide to. Remember, the listing agent is working in the best interest of the Seller. You need a Buyer’s agent to represent your interests. (Continued) Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} FREQUENTLY ASKED QUESTIONS Why is it important for me to call only you? Here’s the way it works: typically there are two agents involved in each transaction. One has the sign in the front yard (the listing agent) and the other brings the buyer (the buyer’s agent). Each agent represents one party to the transaction. It is important that I be the one to “introduce” you to the property. If someone else claims to have done that, I may not be able to represent you, or work with you to purchase that particular property. It can get messy, and confusing, so just call me! 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 of your new home, just to make sure the condition is the same as the day you wrote your offer. Can you help me find new construction homes? Yes, I can work with most 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 provided by the builder, at no additional cost. The advantages of having me help you purchase a new home are the same as those for purchasing a resale home: • Knowledge of the market • Help in finding the perfect home quickly • Expertise in contract writing/negotiation • Closing assistance The builder has a professional representative watching out for his/her needs, and you need the same expert representation. Buying a new home is a little more difficult and time-consuming than buying a resale. I can professionally guide you through this process. It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or build-to-suit home. These transactions are complex and the contract details must be exact in order to protect you and to ensure you get exactly the home you want! REMEMBER: The Builder requires that your Agent accompany you on your first visit to the Builder’s sales office, or they will NOT PAY your representative’s fee! Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} CLIENT SERVICES PLEDGE ● I will keep my clients fully informed and consistently updated. ● I will respond to all my clients’ inquiries and concerns ● I will protect my clients’ interests. ● I will quality control all other parties to the transaction. ● I will assure the accuracy of all paperwork. ● I will continually seek feedback and assure my clients’ satisfaction. ● I will respond to and resolve all problems in a timely manner. ● I will consistently provide value-added services. ● I will always be the calmest person in the transaction. ● I will make each real estate transaction a positive experience. I appreciate the opportunity to assist you in one of life’s biggest events. I intend to exceed your expectations of a real estate professional. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} GLOSSARY Acceptance: The date when both parties, seller and buyer, have agreed to and completed signing and/or initiating the contract. Adjustable Rate Mortgage: A mortgage that permits the lender to adjust the mortgage’s interest rate periodically on the basis of changes in a specified index. Interest rates may move up or down, as market conditions change. Amortized Loan: A loan, which is paid in equal installments during its term. APR: Annual Percentage Rate. A term used in the Truth in Lending Act. It represents the relationship of the total finance charge (interest, discount point, origination fees, loan broker, commission, etc. ) to the amount of the loan. Appraisal: An estimate of real estate value, usually issued to standards of FHA, VA and FHMA. Recent comparable sales in the neighborhood is the most important factor in determining value. This should be contrasted against the home inspection. Appreciation: An increase in the value of a property due to changes in market conditions or other causes. The opposite of depreciation. Assumable Mortgage: Purchaser takes ownership to real estate encumbered by an existing mortgage and assumes responsibility as the guarantor for the unpaid balance of the mortgage. Bill of Sale: Document used to transfer title (ownership) of PERSONAL property. Closing Statement (HUD 1): A financial statement rendered to the buyer and seller at the time of transfer of ownership, giving an account of all funds received or expended. Cloud on Title: Any condition that affects the clear title to real property. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} GLOSSARY Comparable Sales: Sales that have similar characteristics as the subject propety and are used for analysis in the appraisal process. Contract: An agreement to do or not to do a certain thing. Consideration: Anything of value to induce another to enter into a contract, (money, services, promises). Deed: Written instrument, which when properly executed and delivered, conveys title to real property. Discount Points: A loan fee charged by a lender of FHA, VA or conventional loans to increase the yield on the investment. One point equals 1% of the loan amount. Easement: The right to use the land of another. Equity: The value of real estate over and above the liens against it. It is obtained by subtracting the total liens from the value. Escrow Payment: That portion of a mortgagor’s monthly payment held in trust by the lender to pay for taxes, hazard insurance, mortgage insurance, lease payments and other items as they become due. Fannie Mae: Nickname for Federal National Mortgage Corporation (FNMA). A taxpaying corporation created by Congress to support the secondary mortgages insured by the FHA or guaranteed by the VA, as well as conventional home mortgages. Federal Housing Administration (FHA): An agency of the U. S. Department of Housing and Urban Development (HUD). The FHA’s main activity is the insuring of residential mortgage loans made by private lenders. The FHA sets standards for construction and underwriting but does not lend money or plan/construct housing. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} GLOSSARY FHA-Insured Mortgage: A mortgage under which the Federal Housing Administration insures loans made, according to its regulations. Fixed-Rate Mortgage: A loan that fixes the interest rate at a prescribed rate for the duration of a loan. Foreclosure: Procedure whereby property pledged as security for a debt is sold to pay the debt in the event of default. Freddie Mac: Nickname for Federal Home Loan Mortgage Corporation (FHLMC). A federally controlled and operated corporation to support the secondary mortgage market. It purchases and sells residential, conventional home mortgages. Graduated Payment Mortgage: Any loan where the borrower pays a portion of the interest due each month during the first few years of the loan. The payment increases gradually during the first few years to the amount necessary to full amortize the loan during its life. Investor: The holder of a mortgage or the permanent lender for whom the mortgage banker services the loan. Any person or institution that invests in mortgages. Lease Purchase Agreement: Buyer makes a deposit for future purchases of a property with the right to lease the property for the interim. Loan to Value Ration (LTV): The ratio of the mortgage loan principal (amount borrowed) to the property’s appraised value (selling price). Example: On a $100, 000 home, with a mortgage loan principal of $80, 000, the loan to value ratio is 80%. Mortgage: A legal document that pledges a property to the lender as security for payment of a debt. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} GLOSSARY Mortgagor: The borrower of money or the giver of the mortgage document. Mortgage Insurance Premium (MIP): The amount paid by a mortgagor for mortgage insurance. This insurance protects the investor from possible loss in the event of a borrower’s default on a loan. Note: A written promise to pay a certain amount of money. Origination Fee: A fee paid to the mortgagee for paying the mortgage before it becomes due. Also known as prepayment fee or reinvestment fee. Private Mortgage Insurance (PMI): See Mortgage Insurance Premium. Promissory Note: A written contract containing a promise to pay a definite amount of money at a definite future time. Realtor®: A member of local and state real estate boards, which are affiliated with the National Association of Realtors (NAR). Rent With Option: A contract, which gives one the right to lease property at a certain sum with the option to purchase at a future date. Second Mortgage. Or Second Deed of Trust, Junior Mortgage or Junior Lien: An additional loan imposed on a property with a first mortgage loan. Generally, a higher interest rate and shorter term than a “first” mortgage. Severalty Ownership: Ownership by one person only. Sole ownership. Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} GLOSSARY Survey: A contract, which gives one the right to lease property at a certain sum with the option to purchase at a future date. Tenancy In Common: Ownership by two or more persons who hold an undivided interest without right of survivorship. In event of the death of one owner, his/her share will pass to his/her heirs. ) Title Insurance: An insurance policy which protects the insured (purchaser or lender against loss arising from defects in the title). Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} WANT TO KNOW MORE? Visit our websites for great Buyer and Seller resources! Web: www. jennyswain. com Condo Projects: www. jennyswaincondos. com Blog: yourmovingexperience. wordpress. com Facebook: Jenny Swain and Associates Twitter: www. twitter. com/jennyswain You. Tube: www. youtube. com/user/jennyswain 1 Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
{SELLERSNAME} CONTACT ME By Phone Feel free to leave a message at any of these numbers. I check my voicemail frequently and will return your call as soon as possible! Cell Phone Office 608 -219 -8989 608 -662 -9600 Stacey Mc. Williams, Administrative Team Leader 608 -662 -9690 Keller Williams Office 608 -831 -0800 Fax 608 -831 -0825 By Email My Email jennyswain@kw. com Stacey’s Email staceymcwilliams@kw. com Three Point Place ● Madison, WI 53719 ● 608 -219 -8989 ● Fax: 608 -831 -0825 ● jennyswain@kw. com www. jennyswain. com ● yourmovingexperience. wordpress. com ● Twitter: Jenny. Swain
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