ERICAJOLLES BUYINGJAX
FIND THE RIGHT AGENT AGENT
When developing client relationships, my philosophy is people before property What that means is that I take a “Heart First” approach with each of my buyers and sellers by listening to their needs and consistently engaging with them in order to guarantee a successful transaction. I didn’t know it at the time, but my masters degree in social work was great training for a career in real estate – it helped me develop my ability to connect with people on a fundamental level, to understand what they need, and how I can help them. With that relationship established, I am able to measure my success by the happiness level of my clients When their desired outcome has been achieved, I feel accomplished.
In my early career, I focused on institutional communications and event planning, first, as a member of the University of Southern California‘s Office of Admissions, and later, as a fundraiser for the Ronald Reagan Presidential Library Foundation. When I transitioned to a career in real estate, communication became a corner stone of my business and allowed me to successfully build a dynamic and diverse portfolio of clients.
Though my communication and business skills have allowed me to manage the practical aspects of real estate transactions I believe that my own experience of relocating my young family in 2005 acro knowledge and perspective to put my clients minds at ease durin eir shoes. I can anticipate their needs, their questions, and I’m dedica
INTERVIEW QUESTIONS TO ASK A REAL ESTATE AGENT:
How do you ensure that you ’ re getting a Realtor who is going to work hard for you? Start by asking your potential Realtor these questions!
HOW LONG HAVE YOU BEEN IN REAL ESTATE? 1. CAN YOUR AGENT ACT LIKE A SINGLE AGENT? 2. IS YOUR AGENT’S BROKERAGE WILLING TO PROTECT YOUR MONEY IN ESCROW?
3. HOW MUCH ARE ALL OF YOUR FEES? 4. WHAT IS THE BUYER-BROKER AGREEMENT? 5. BEFORE LOOKING AT HOMES, DO YOU FIRST ASK THAT A CLIENT GET A PRE-APPROVAL LETTER FROM A LENDER? IF SO, WHY?
6. HOW CAN I COMMUNICATE WITH YOU?
7. WHAT ARE YOUR HOURS? 8. CAN I CANCEL THE CONTRACT EARLY? 9. CAN I ASK TO SEE SOME REVIEWS? 10. WHAT ARE YOU DOING TO SET YOUR BUYERS APART WHEN MAKING OFFERS IN TODAY’S MARKET? 11. WHAT IS YOUR STRATEGY TO INCR CONCESSIONS? 12.
There are two types of real estate agents: single and transaction.
Round Table Realty promotes single agency. Most brokerages promote transaction agents because it's easier, but they do NOT have the same legal responsibilities as single agents.
Single agents legally provide: Transaction agents legally provide:
THE PROCESS THE PROCESS
MONEYMATTERS MATTERS
In most cases, you should begin to secure financing before you even start home-shopping! If you are not purchasing a home with cash, you will need a mortgage pre-approval provided by your mortgage lender. Luckily, I've spent years building relationships with lenders who believe the client comes first. I can lead you in the right direction and help you shop around.
How to Prepare for Pre-Approval
Study your credit report Make note of any errors you see and talk to your lender about them
Compile necessary documents, including pay stubs, bank statements, and past tax returns
Determine how much of a payment you are comfortable with. Don’t forget that you will have taxes and insurance on top of your base mortgage payment!
How much should I save?
A down payment is typically between 3.5% & 20% of the purchase price, though could be as low as 0%
Earnest money, or your binder, is money you put down to show that you ’ re serious about purchasing a home. The amount is determined during the negotiation process before going under contract.
Closing costs for the buyer can run between 2% & 5% of the loan amount and your binder is applied to this amount on closing day We'll know this exact number as we get closer to your closing day.
Home inspections can cost between $300-$1,500, depending on the home and the inspections you choose. Appraisals can cost between $500-$1000 depending on the complexity of the appraisal and size of the home.
CHOOSING A LENDER
AND
GETTING pre-approved pre-approved
First-time homebuyers typically financed about 93% of their home’s sales price, while repeat buyer financed 83%. Finding the right lender is your top priority because the most important step you can take in the home-buying process is getting pre-approved for the financing.
Pre-qualification versus Pre-Approval
Pre-qualification versus Pre-Approval
These terms are incorrectly used interchangeably; they mean very different things:
Pre-qualification - An estimate of how much you could qualify to borrow. This estimate is given to you by a lender but requires no credit check or official documentation.
Pre-approval - This is actual proof of your buying power from a lender. You’ll complete a full loan application, a credit check, and proof of your income and assets. Having a pre-approval letter shows sellers you ’ re not just serious - you ’ re financial able to buy the home.
Research Mortgages and Lenders
Request quotes from multiple lenders and comparison shop for loans.
Find out if you qualify for a special loan, such as a VA, FHA, or HUD home buying program.
Get preapproved for a mortgage and receive your letter
IMPORTANT THINGS TO REMEMBER while home-shopping while home-shopping
Your mortgage loan isn’t guaranteed until you Your mortgage loan isn’t guaranteed until you have a clear-to-close. Keep the loan have a clear-to-close. Keep the loan application process smooth by remembering application process smooth by remembering these tips: these tips:
1. Do not omit debts or liabilities from your loan application.
DO disclose everything financially relevant to your lender (even things you don’t think are important).
2. Do not change jobs, become self-employed, or quit your job.
3. Do not buy a car, truck, van, boat, or any other vehicle.
4. Do not use credit cards excessively or fall behind in payments.
5. Do not spend the money you set aside for your closing.
6. Do not buy furniture or other large home items. 7. Do not originate any inquiries into your credit. 8. Do not make large deposits without first ch ki with your loan officer.
9. Do not change banks. 10. Do not cosign on a loan for anyone. 11.
SHOPPING SHOPPING
I have access to more home listings than your typical internet search could yield. As soon as I understand your must-haves and wishes in a list, I will help you see the homes that are in your price range and that match your needs. Get ready! This is the fun part!
Get ready to go shopping!
What - Compile your home wish list. Beds/baths/pool/etc.
Where - Research what areas of town you'd be willing to live in (and which you would not)
Why - Do you need a home with access to better schools? More space? Less maintenance? Are you renting?
Tips to Consider
Neighborhood/home site
Curb appeal
Home size and floor plan
Proximity to work, schools, church, etc.
Number
*Updated kitchen and bathrooms (these are the most expensive to renovate)
SHOPPING NEW CONSTRUCTION
If you ’ re interested in a new-build, keep these things in mind:
1. I have established relationships with the builders in town and I work with them to save you money and negotiate on your behalf.
4.
The on-site sales person works for the builder, not you.
2. The builder typically pays my commission. 3. Ideally, you should not visit a new-build without me. If you can’t avoid it, reach out to me first so I can get you a point of contact ahead of time!
SHOPPING FOR SALE BY OWNER
If you ’ re interested in a for-sale-by-owner, keep these things in mind:
Make note of the address and phone number and pass them on to me.
1. I will let the seller know you have an agent working on your behalf. 2. This ensures you get the best price and saves you time, money, and hassle of working with someone who might not understand the sales process. 3.
INSTANT MARKET UPDATES
Stay informed about the latest housing inventory in our area! Receive notifications whenever new homes hit the market, change in price, or go under contract. Ask me how to stay updated!
MAKING YOUR
OFFER PRICE
The offer price is the amount of money you propose to pay for the home.
FINANCING INFO
The financing info details how you plan to fund the purchase, whether through a mortgage, cash, or other means.
THE BINDER DEPOSIT
The binder deposit, also known as earnest money, is a sum of money provided to show your serious intent to buy the property.
DATES
The dates include key milestones such as the closing date, inspection period, and any other important deadlines.
CONTINGENCIES
Contingencies are conditions that must be met for the sale to proceed, such as a satisfactory home inspection, obtaining financing, the appraisal, or having a home to sell.
If you want your
TO STAND OUT!
Get ready! You could be part of a multiple-offer situation or you might fall in love with your dream home and you don’t want to lose it! These are the strategies I use to help you win!
ESCALATORY CLAUSES
An escalatory clause automatically escalates your offer in specific increments above other offers that the seller may have received. Think of it much like bidding on Ebay. I have a unique take on the escalatory clause with one goal in mindwinning. Very few agents have been trained on how to manipulate the escalatory clause to their buyer's advantage.
APPRAISAL GAPS
You may need to be willing to cover an appraisal gap. This means you bring monies in addition to your down payment to fill the gap between the value determined by an appraiser and the purchase price. I have some ways of helping you do this without using more of your own cash.
LIMIT CONTIGENCIES
Contingencies are things like selling your old house, waiting for financing, etc. In today's market, telling a seller "wait, let me sell my house first and then I can close on yours " is just not effective. I have partnered with a few companies that offer a financing product that allows you to close on the home you would like to buy first, then sell your old home.
COMPETE WITH CASH
Write a financing offer that competes with cash! Don't have the cash but have a house to sell? I have access to specialty programs that allow you to make cash offers, even when you don't have the cash in hand.
WE HOLD
ESCROW ESCROW
WHAT IS ESCROW?
After your offer is accepted by the seller, the two parties negotiate an amount of money the buyer will put into an account "in earnest" (usually 1-3% of the purchase price). This money is usually held by the title company, but Round Table agents have the option of holding escrow at our own brokerage.
Why is it important that Round Table Realty holds escrow?
When the title company holds the escrow money (instead of the brokerage) and the sales contract is cancelled for any reason, a legal fight can break out over who is actually the owner of that money (which can cost a lot of money)!
When Round Table Realty holds escrow money, the buyer or seller can file paperwork with the state to attempt to claim that deposit for free! (No lawyers required!)
INSPECTIONS & INSURANCE
You will likely have a 10-15 day inspection period during which you can have any part of the home inspected. I will help you choose those inspections but ultimately, it is your decision.
You also need to obtain homeowners insurance during this period. Sometimes, homeowners insurance is a wild card and can make or break a sale, but few people think about it. I can put you in touch with a homeowners insurance broker if you don't already have one.
NEGOTIATE FINAL
OFFER
If you encounter setbacks after inspections or homeowners insurance, you can:
Ask the seller to make the repairs using licensed contractors 1.
Ask for credits toward your closing costs 2.
Ask the seller to reduce the sales price to make up for the repairs 3
Back out of the transaction (if you have an inspection contingency in place) 4.
Move forward with the deal as its written 5.
I will coach and guide you through any and all the points above based on your specific situation. Because we are working against a deadline, we'll need to be in close communication during this phase.
WHAT
MEAN
Unless you ' re paying cash, the lender will order an appraisal to determine if the home is worth what you ' re under contract to pay for it. The lender will not lend you more than what they deem the home is worth.
IFTHEAPPRAISALISLOW
We can renegotiate a new, lower home sale price 1. We can agree to meet in the middle between the appraised value and the contracted sale amount 2. The buyer can choose to pay the difference or cancel. 3. The buyer or seller can request an appraisal rebuttal (which rarely works) 4.
COUNT DOWN TO
5 W E E K S O R M O R E T O C L O S I N G
Finalize your mortgage
Declutter! Sort through every drawer, closet, cupboard & shelf, removing items you no longer need or like. Pack the rest!
Get copies of medical records and other important documents
Create an inventory of anything valuable that you plan to move
Get estimates from moving companies
4 W E E K S T O C L O S I N G
Give 30 days notice if you are currently renting
Schedule movers/moving truck
3 W E E K S T O C L O S I N G
The title company will complete your title search
I will ensure your HOA estoppel is ordered if applicable I will solidify your closing date (still subject to change)
2 W E E K S T O C L O S I N G
Choose a home warranty if you want one
Contact utility companies (water, electric, cable)
Change address: mailing, subscriptions, etc
Minimize grocery shopping
Keep on packing
I will ensure your survey has been ordered
1 W E E K O R L E S S T O C L O S I N G
Finish packing and perform a moving clean-out
Pack essentials for a few nights in the new home
Confirm delivery date with the moving company
I will obtain your ALTA statement with final numbers
Contact the title company for wiring instructions to send your closing costs and down paym
I will schedule and attend your final wa
FINAL WALK THROUGH
We will do a final walk through of the home within 24 hours of closing to check the property’s condition. This final inspection takes about 30 minutes. We will make sure the home is in the same condition (or better) as when we made our offer
We'll double check:
All appliances are working properly
Water is running and there are no visible leaks
Open and close garage doors with openers
Flush toilets
Run the garbage disposal and exhaust fans
Check AC unit and handler
AT THE CLOSING TABLE
You, me, possibly the sellers and the seller’s agent, and the title company will all be in attendance. The title company representative will go over every page you sign and then will ensure your closing funds are transferred. You will need to have:
Two forms of government-issued photo ID
Closing can take anywhere from one to three hours.
RECEIVE YOUR KEYS
When your funds are verified and all documents are signed, you'll receive your keys and officially be the owner of your new home
Now don't forget to file that homestead exemption!
1.
Make sure to put a change of address or forward the mail with USPS if you have not done so yet.
2.
3.
File for Homestead exemption. Call Erica with questions if you ’ re not sure how to do that!
Change the locks and security system passcodes.
4. 5.
Creating a maintenance plan for the systems in your home including air filters, water softeners, or pools (if applicable).
Plan for emergency preparedness. Buy flashlights, canned goods, and water for hurricane season.
Inspectors
INSIDE AND OUT PROPERTY INSPECTORS
HTTPS://INSIDEANDOUTPROPERTYINSPECTORS.COM/ 904-395-1900
ALLSPEC SERVICES
HTTPS://ALLSPECSERVICES.COM/ 904-448-5016
ARSENAULT CERTIFIED POOL CONSULTANTS
HTTPS://CERTIFIEDPOOLCONSULTANT.COM/ 904-997-6679
Insurance
BRIGHTWAY INSURANCE, RIVERSIDE
DANIEL.MILLER@BRIGHTWAY.COM
WWW.BRIGHTWAYINSURANCERIVERSIDE.COM 904-343-9859
BAYMEADOWS MOVERS
HTTPS://WWW.BAYMEADOWSMOVERS.COM/ 904-906-2963 Movers
LYNN REGAL
GR8RELADY@AOL.COM
805-660-3561 Assistant
"The most qualified, knowledgeable responsible and SAVVY REALTOR ever! She found us the perfect house in record time and her PROFESSIONAL ADVICE landed us the house we wanted in a very competitive market."
"Erica not only helped us find our perfect property, her advice on how to make our offers and counteroffers was NOTHING SHORT OF BRILLIANT! She saved a deal and MADE THE IMPOSSIBLE POSSIBLE."
"Erica helped us sell our home and find our dream house and WORKED MIRACLES to help us through the entire process. She made it easy and as low stress as possible. She's the ABSOLUTE BEST!"
"ERICA DELIVERS! She is professional, personable, very responsive, and has access to an EXCELLENT NETWORK. Erica doesn't hesitate to do what it takes to MAKE THINGS HAPPEN for her clients, never burdened by requests, and ALWAYS AVAILABLE TO WALK YOU THROUGH THE PROCESS."
SINCE 2006, ERICA HAS BEEN RANKED #31 OF ALL REALTORS (INCLUDING TEAMS BUT NOT INCLUDING BUILDERS) IN NORTHEAST FLORIDA. IF INCLUDING BUILDERS, SHE’S RANKED #47.
ERICA HAS SOLD A TOTAL OF 651 HOMES FOR A GRAND TOTAL OF $270,689,036 IN SALES. ON AVERAGE, SHE COMPLETES BETWEEN 45-55 TRANSACTIONS PER YEAR.
SHE HAS CONSISTENTLY BEEN ONE OF THE TOP PRODUCING AGENTS AT ROUND TABLE REALTY FOR 7 YEARS.
ERICA WAS AWARDED THE “BEST OF ZILLOW" STATUS, EARNED ONLY BY ZILLOW PREMIER AGENT PARTNERS WHO GO ABOVE AND BEYOND FOR CUSTOMERS AND DEMONSTRATE EXCEPTIONAL PERFORMANCE FROM THE VERY FIRST CONNECTION CALL THROUGH CLOSING A SUCCESSFUL TRANSACTION.
*asof10/23
