KW Madison - Branded Buyer Presentation

H O M E

Buyer 's G U I D E

hello!

I'M GA YLE! YOUR LOCA L REA L ESTA TE EXPERT W it h a p assion for help ing client s navig at e t he real est at e m arket , I am com m it t ed t o d elivering excep t ional service and creat ing a sm oot h, st ress-free exp erience. I und erst and t hat b uying or selling a hom e is one of life?s b ig g est d ecisions, and I?m here t o p rovid e t rust ed g uid ance every st ep of t he w ay. By st aying up t o d at e on m arket t rend s and local insig ht s, I aim t o em p ow er m y client s t o m ake inform ed choices w it h confid ence.

GAYLE QUILL Real Est at e A g ent

W het her you're a first -t im e hom eb uyer, looking t o sell, or exp loring invest m ent op p ort unit ies, I am d ed icat ed t o help ing you achieve your real est at e g oals. My ap p roach is b uilt on clear com m unicat ion, at t ent ion t o d et ail, and a g enuine d esire t o see m y client s succeed . Let ?s w ork t og et her t o t urn your real est at e d ream s int o realit y!

e: Gayle@GQ.com w : Gayle.GQ.com o: 210 -126-80 80

4937 Telegraph Ave. Suite A , Oakland, CA 9460 9

A BOUT KELLER W ILLIA MS A com p any cult ure t hat nurt ures excellence

It ?s not t he b rokerag e t hat help s you t o find your id eal hom e ? it ?s t he ag ent .

Keller W illiam s has consciously creat ed a com p any cult ure t hat at t ract s, t rains, and nurt ures t he b est real est at e ag ent s in t he w orld so t hey can b et t er serve you.

Our com p any cult ure has b een st ud ied in d ep t h by St anford Universit y, and t hey found t hat : ?Keller W illiams is? a company with a unique economic and cultural model, embracing organizational concepts such as profit sharing, shared decision-making, open books, and extensive employee training.?

Training Mag azine recog nized Keller W illiam s as t he w orld lead er in t raining for t he t hird consecut ive year.

Keller W illiam s is p roud t o b e a client -focused org anizat ion t hat fost ers int eg rit y and t eam w ork, rew ard s innovat ion, and w orks t o creat e w in-w in out com es.

We are t hrilled t hat you are consid ering Keller W illiam s as your choice t o help you b uy w hat m ay b e your b ig g est and m ost im p ort ant asset ? your new hom e.

W HY BUY W ITH KELLER W ILLIA MS? We help you reach your g oals

TECHNOLOGY Lead ing -ed g e t ech t ools and t raining g ive us t he ad vant ag e in effect ively find ing t he p erfect hom e for you.

TEA MW ORK Keller W illiam s Realt y m od el w as d esig ned t o rew ard ag ent s for w orking t og et her w it h t he id ea t hat w e are all m ore successful if w e st rive t ow ard a com m on g oal, rat her t han ind ivid ual int erest s. I?m confid ent t hat every Keller W illiam s p rofessional w ill serve you in t he b est w ay p ossib le.

RELIA BILITY Found ed on t he p rincip les of t rust and honest y, Keller W illiam s Realt y em p hasizes t he im p ort ance of int eg rit y and p ut t ing t he client ?s need s first . My success is ult im at ely d et erm ined by t he leg acy I leave w it h each client I have t he op p ort unit y t o serve.

TRA CK RECORD I?m p roud t o w ork w it h t he larg est real est at e com p any in t he w orld by ag ent count . W hen service is consist ent ly sup erior, w ord sp read s fast

KNOW LEDGE Keller W illiam s Realt y sup p ort s every ag ent in st aying ahead of real est at e ind ust ry t rend s t hroug h it s com p rehensive, cut t ing -ed g e t raining curriculum and research resources.

The larg est ind ep end ent real est at e franchise A net w ork of over 191,0 0 0 real est at e consult ant s w it h a p roject ed g row t h of 30 0 ,0 0 0 1,10 0 offices in t he Unit ed St at es and Canad a ( 50 ) m ajor m arket s Excellence in cut t ing -ed g e real est at e t raining , real est at e coaching and real est at e ed ucat ion Nam ed ?Most Innovat ive Real Est at e Com p any?

by Inm an New s

BUYING Our w inning st rat eg y

LIFESTYLE A NA LYSIS Find ing your id eal hom e is a p rocess of m at ching your lifest yle and financial ob ject ives w it h t he rig ht neig hb orhood . A s a Realt or®w it h exp erience selling in t his m arket , I have t he exp ert ise t o m at ch you w it h t he hom e t hat fit s your lifest yle W het her you w ant a p iece of t he cit y, or a q uiet neig hb orhood w it h t he b est schools for your child ren, I have t he area insig ht and know led g e you need .

SEA RCH A NA LYSIS Beyond t he MLS and p review ing hom es online, find ing your id eal hom e is also ab out leverag ing relat ionship s.

A s your Realt or®, I ut ilize m y ext ensive net w ork and access t o off-MLS ( p ocket ) list ing s on your b ehalf. To st ream line t he p rocess, I p review hom es on your b ehalf, in ad d it ion t o t ouring hom es and neig hb orhood s w it h you. I w ill alw ays keep you w ell inform ed of new hom es t hat com e on t he m arket .

MA KE A W INNING OFFER The housing m arket is ult racom p et it ive w hich is w hy you need a seasoned p rofessional t o g ive you a com p et it ive ad vant ag e and help you t o w in t he b id on your id eal hom e. We w ill carefully consid er if t he hom e is accurat ely p riced for t he size, locat ion, and neig hb orhood com p arat ive sales.

A s your consult ant , I w ill ad vise you on how t o b est p osit ion your offer for q uick accep t ance, t he am ount of your d ow n p aym ent and w het her you b e should b e fully p re-ap p roved p rior t o b id d ing .

NEGOTIA TE Neg ot iat ing t erm s for t he p urchase of w hat m ay b e your larg est p ersonal asset req uires a p rofessional w ho has your b est int erest s in m ind . A ft er list ening t o your need s, I w ill vig orously neg ot iat e t he p rice, cont ing encies such as insp ect ions, ap p raisals and financing , as w ell as t he b est t im e t o close escrow.

COORDINA TE Cong rat ulat ions! Your offer w as accep t ed and now t he race b eg ins. The closing of your hom e is urg ent and t im e sensit ive w it h m any st ep s t o com p let ion.

A uniq ue feat ure of Keller W illiam s is t hat our cult ure p rom ot es t eam w ork.

Everyone at t he KW office has a vest ed int erest in help ing you close t he p urchase of your hom e as sm oot hly and efficient ly as p ossib le. A s your ag ent and p roject m anag er, m y t eam and I w ill b e t here w it h you t hroug h t he end of t he closing p rocess. We w ill coord inat e t he insp ect ions, escrow, and t it le search, help ing you p rep are for t he closing of your new hom e.

PRE-QUA LIFICA TION VS. PRE-A PPROVA L There is a d ifference

PRE-QUA LIFICA TION OR PRE-A PPROVA L Know ing how m uch you q ualify for is an im p ort ant first st ep b efore st art ing your hom e search. Und erst and ing t he p rice rang e you and your ag ent should focus on, your d ow n p aym ent op t ions, as w ell as m ont hly m ort g ag e p aym ent s ahead of t im e, w ill help you t o find and close on your id eal hom e q uickly.

Pre-q ualificat io n p rovid es you w it h a g eneral est im at e of how m uch you can exp ect t o b orrow. It ?s easy and can b e d one over t he p hone or online. You p rovid e t he m ort g ag e com p any or b ank w it h inform at ion such as your incom e, d eb t , and em p loym ent inform at ion. In ret urn you w ill b e g iven a loan est im at e.

Pre-A p p roval w ill g ive you t he exact am ount you q ualify for and p rovid es ot her ad vant ag es for m aking offers in a com p et it ive m arket like Los A ng eles.

W it h a p re-ap p roval, t he lend er t akes an ext ensive look at your financial p ict ure, includ ing t w o years of your W -2s and t ax ret urns, a cred it check, d eb t / incom e rat io and how m uch you have for a d ow n p aym ent .

Being a p re-q ualified b uyer let s t he seller know t hat you are in a p osit ion t o b uy now, w hich can g ive you a d ist inct ad vant ag e w hen t here are m ult ip le offers on a hom e.

Not all loan p ackag es are t he sam e. Going t hroug h t he p re-ap p roval p rocess is a w in-w in sit uat ion t hat help s t he lend er creat e a loan p ackag e t hat fit s your need s.

THE LOA N PROCESS A series of st ep s t o reach t he finish line

1. Pre-A p p roval: You w ill b e asked t o p rovid e p ersonal inform at ion such as your Social Securit y num b er, incom e, asset s, d eb t s, cred it inform at ion and t he sp ecifics on t he t yp e of p rop ert y you w ish t o p urchase.

2. Full A p p licat io n: During t he ap p licat ion p rocess t he lend er w ill up d at e any inform at ion and d ocum ent at ion t hat has alread y b een sub m it t ed .

3. Pro cessing : Your m ort g ag e p ackag e w ill b e review ed and com p let ed by t he p rocessor.

4 . Lo an Sub m issio n: Once t he p rocessor has com p let ed t he loan p ackag e, it is sub m it t ed t o t he und erw rit er for ap p roval.

5. Lo an A p p roval: A ll p art ies are not ified of t he ap p roval and loan d ocum ent s are com p let ed and sent t o b ot h t he t it le and escrow com p anies.

6. Tit le: The t it le com p any ensures t hat t he p rop ert y t it le is clear and leg it im at e.

Once t his p rocess is com p let e, t it le insurance is issued for t he p rop ert y.

7. Fund ing : Once you have sig ned t he loan d ocum ent at ion, your lend er review s t he loan p ackag e, and up on ap p roval, fund s are w ire-t ransferred t o t he t it le com p any.

8. Reco rd at io n: W hen t he t it le com p any receives t he fund s, t hey are released t o t he seller, less t axes and fees and you are record ed as t he ow ner of your new hom e.

W RITING A N OFFER W hat it t akes t o w in

Hist orically, Los A ng eles is an ag g ressive and com p et it ive m arket , req uiring you t o st rat eg ically p osit ion yourself in t he m ind of t he seller as t he obvious b est choice.

Here are som e g eneral g uid elines for w rit ing a st rong offer: 1. Review t he relevant sales and m arket cond it ions p rior t o m aking an offer.

Fact ors t o consid er includ e t he cond it ion of t he hom e, leng t h of t im e on t he m arket , com p et it ion and urg ency of t he seller.

2. Give yourself room t o com p et e.

Id eally, you w ill w ant t o find hom es t hat are b elow your m axim um so you have room t o neg ot iat e on p rice, t he need should arise.

3. W hile it is im p ort ant t o offer a p rice t hat is at t ract ive t o t he seller, t hey w ill oft en consid er ot her elem ent s b efore accep t ance. How m uch m oney you p ut d ow n on t he p rop ert y, and any cont ing encies or financing t erm s are just a few fact ors t hat m ay m ake t he d ifference.

4 . A ft er your offer has b een w rit t en, your ag ent w ill m eet w it h t he seller ?s ag ent t o neg ot iat e on your b ehalf. The seller m ay accep t , reject or count er t he offer w it h chang es.

5. You w ill b e not ified im m ed iat ely of t he out com e. Should t he seller count er, your ag ent w ill w ork w it h you t o review each sp ecific req uest and m ove t he cont ract forw ard t o closure.

KNOW W HA T YOU A RE BUYING Your op p ort unit y t o find out exact ly w hat you?re b uying

Insp ect ions are an im p ort ant p art of t he b uying p rocess and allow you t o fully und erst and any issues or challeng es w it h t he p rop ert y b efore closing t he t ransact ion.

A lab am a w ood infest at ion insp ect ions are also d one by a licensed insp ect or w ho w ill look for w ood -d est roying org anism s, includ ing t erm it es and fung i ( ?d ry rot ?) .

Should w rit e your offer w it h an insp ect ion cont ing ency. This is one of t he m ore com m on cont ing encies t hat b uyers use.

A s w it h t he hom e insp ect ion, t he b uyer p ays for t he p est insp ect ion, how ever t he insp ect or is resp onsib le t o d eliver an unb iased rep ort , reg ard less of w het her t hey favor t he b uyer or t he seller.

A cont ing ency m eans t hat you w ill only g o t hroug h w it h t he p urchase if cert ain cond it ions are m et .

Hom e insp ect ions should b e only d one by a cert ified hom e insp ect or, and t hey are usually p aid for by t he b uyer. Oft en, a seller w ill have insp ect ions com p let ed p rior t o p lacing t heir hom e on t he m arket t o rem ove t he ?cont ing ency? from t he b uyers b id . Ult im at ely, it is t he b uyer ?s resp onsib ilit y t o assess t he cond it ion of t he p rop ert y.

THE TITLE PROCESS Prep are and p resent your p rop ert y

In a real est at e t ransact ion, t he t it le com p any is an ind ep end ent t hird p art y t hat hold s im p ort ant d ocum ent s and cert ain fund s. W hen op ening escrow, t he b uyer and seller d et erm ine t he t erm s and cond it ions for t he t ransfer of ow nership of t he p rop ert y via t he p urchase cont ract . Tit le ensures t hat all m ut ually ag reed -up on t erm s and cond it ions are m et p rior t o t he t ransfer of ow nership and d ist rib ut ion of fund s.

The t it le com p any p rot ect s b ot h you and t he seller by m anag ing t he follow ing t asks: -

Hold ing b uyer ?s g ood -fait h d ep osit ( t yp ically 3% of t he p urchase p rice) .

Disclosing escrow and t it le fees t o t he b uyer ?s lend er.

Calculat ing p rorat ed t axes and HOA fees.

Provid ing a t it le rep ort and t it le insurance.

Ensuring t hat st at e and local t ransact ion law s and rules are follow ed .

Ob t aining all necessary and not arized sig nat ures from all p art ies.

Ensuring t he p ap erw ork is leg al and b ind ing .

Record ing t he t ransfer d ocum ent s and insuring t heir accuracy.

Receiving t he d ow n p aym ent from t he b uyer.

Receiving fund s from t he b uyer ?s lend er.

Paying liens, overd ue t ax, and HOA d ues.

Dist rib ut ing p roceed s t o t he seller.

FA QS

W hen are yo u " Und er Co nt ract " ?

You are und er cont ract aft er t he cont ract has b een sig ned by b ot h you and t he seller. Once you are und er cont ract you m ust d eliver earnest m oney d ep osit w it hin t he t erm s ag reed .

W hat d o es t he t it le co m p any d o?

Your escrow officer w ill oversee all asp ect s of your real est at e t ransact ion, such as sig ning p ap er-w ork, com p let ing a t it le search and ob t aining hazard and t it le insurance.

W hy d o p ro p ert ies fall o ut o f co nt ract ?

Oft en, t here is a p rob lem w it h t he loan w here t he ap p raisal com es b ack low er t han t he offer p rice or a st ruct ural p rob lem is d iscovered d uring an insp ect ion.

How lo ng d o es it t ake t o clo se?

The leng t h of escrow is d et erm ined by t he p urchase ag reem ent . Dep end ing on t he t erm s, it can last a few or even 90 d ays. A t yp ical escrow in t his area is 30 -4 5 d ays.

W HO PA YS W HA T?

CLOSING COSTS

Buyer and seller fees

W hat you need t o know

Many fees are neg ot iab le; how ever, t here are som e fees t hat you and t he seller are req uired t o p ay.

Buyer t yp ically p ays: - Buyers ag ent real est at e com m ission - Insp ect ions - Their share of escrow fees from t he t it le com p any - Loan fees req uired by your lend er - Tit le insurance p rem ium - Fire and hazard insurance p rem ium Seller t yp ically p ays: - List ing ag ent - Real Est at e com m issions - A ny jud g m ent s or t ax liens - A ny unp aid hom eow ner ?s d ues - Transfer t axes - Delinq uent p rop ert y t axes - Their share of escrow fees from t he t it le com p any Their share of escrow fees from t he t it le com p any

Closing cost s are fees p aid by t he b uyer and t he seller at t he close of your hom e.

During t he lend ing p rocess you w ill have received a Good Fait h Est im at e w hich includ es your closing cost s and set t lem ent charg es. Typ ically, closing cost s are 1-2% of t he p urchase p rice of your hom e. A few d ays p rior t o closing , your lend er w ill g ive you a d et ailed b reakd ow n in t he Closing Disclosure St at em ent .

W hat ?s Includ ed ?

Closing cost s includ e loan orig inat ion fees, d iscount p oint s, ap p raisal fees, t it le searches, t it le insurance, surveys, t axes, d eed -record ing fees, init ial d ep osit for your escrow account , hom e ow ners insurance and cred it rep ort charg es.

In ad d it ion, t here are nonrecurring cost s and p re-p aid cost s. Nonrecurring cost s are one-t im e fees associat ed w it h b uying a p rop ert y or g et t ing a loan. Prep aid cost s are t hose t hat recur over t im e, such as p rop ert y t axes and hom eow ner ?s insurance.

A BOUT PROPERTY TA XES A n Overview

How is real p ro p ert y assessed ?

Real p rop ert y is assessed up on chang e of ow nership and , in cert ain circum st ances, t he const ruct ion of im p rovem ent s. The new assessed value is eq uivalent t o t he p urchase p rice and is sub ject t o b eing increased by as m uch as 2% each year.

How are p ro p ert y t axes b illed ?

Prop ert y t axes are m anag ed by your m ort g ag e com p any. A s t he hom eow ner, you p ay for p rop ert y t axes and insurance along w it h your m ort g ag e p aym ent . W hen your p rop ert y t axes are d ue, t he m ort g ag e com p any send s t he m oney t o t he t ax collect or or insurance com p any.

W hen are p ro p ert y t axes d ue?

The fiscal year runs from Oct ob er 1st t hru Sep t em b er 30 t h.

Paym ent is d ue by Decem b er 31st W hen d o I st art p aying m y p ro p ert y t axes?

A ft er chang e of ow nership, a sup p lem ent al t ax b ill m ay b e issued t o collect t axes ow ing for t he current t ax year b ased on t he d ifference b et w een t he p revious and t he new assessed values of t he real p rop ert y.

The seller is resp onsib le for t he p aym ent of t axes d ue p rior t o close, and t he b uyer is resp onsib le for t he p aym ent of t axes d ue aft er close, includ ing any sup p lem ent al t ax b ill.

MA RK YOUR CA LENDA RS! Decem b er 31st - d ead line t o reg ist er your Hom est ead t ax exem p t ion if you w ill b e t he ow ner occup ant of t he p rop ert y.

FREQUENTLY A SKED QUESTIONS A nsw ered

How w ill yo u t ell m e ab o ut t he new est ho m es availab le?

The Mult ip le List ing Service Web sit e p rovid es up -t o-d at e inform at ion for nearly every hom e on t he m arket . I const ant ly check t he New on Market list and w ill send you t he lat est list ing s via em ail at a freq uency t hat ?s m ost help ful for you, d aily or in real-t im e.

W ill yo u info rm m e o f ho m es fro m all real est at e co m p anies o r o nly Keller W illiam s Realt y?

I w ill keep you inform ed of all hom es t hat com e availab le, includ ing off-m arket d eals, t o help you find your id eal hom e

Can yo u help m e find new co nst ruct io n ho m es?

Yes, I have access t o all t he new const ruct ion op p ort unit ies in t he cit y and can g et you t he inform at ion you need t o m ake a d ecision. I w ill accom p any you on your first visit w it h t he b uild er. By using m y services w it h a new const ruct ion hom e p urchase, you w ill receive t he services I offer, as w ell as t hose p rovid ed by t he b uild er, at no ad d it ional cost .

How d o es Fo r Sale By Ow ner ( FSBO) w o rk?

Hom eow ners t rying t o sell t heir hom e w it hout ag ent rep resent at ion are usually d oing so in t he hop es of saving t he com m ission. If you see a FSBO and w ant t he ad vant ag es of m y services, let m e cont act t he ow ner for you and m ake an ap p oint m ent . Oft en, t he hom eow ner w ill

w ork w it h an ag ent , even t houg h t heir hom e is not list ed since t he ag ent is int rod ucing a p ot ent ial b uyer t o t heir p rop ert y. W hile you m ay g et a d eal b uying d irect ly from t he seller, if t hey are not a licensed ag ent , it m ay b e a challeng ing exp erience.

Can w e g o b ack t hro ug h o ur p ro p ert y ag ain o nce an o ffer is m ad e b ut b efo re p o ssessio n?

You should com p let e all of your insp ect ions and w alk-t hroug hs b efore rem oving any cont ing encies. If you need t o see t he p rop ert y ag ain for any reason, w e can m ake a sp ecial req uest t o t he seller for access.

They oft en allow it , b ut t hey are not req uired t o d o so. Just p rior t o closing , w e w ill sched ule a final w alk-t hroug h and insp ect ion of your new hom e.

W hat hap p ens aft er clo se?

You can celeb rat e and shift your focus t o m oving int o your new hom e. You w ill w ant t o sched ule your m ove, p ack it em s and not ify b usinesses of your ad d ress chang e. I can p rovid e you w it h a m oving checklist t o help you rem em b er all t he d et ails.

Thank you LET?S GET STA RTED A g ain, t hank you for t he op p ort unit y t o p resent m y p roven w inning b uying st rat eg y t o help you find and p urchase your p rop ert y. I am excit ed and honored t o b e help ing you on your journey t o hom e ow nership.

GA YLE QUILL Real Est at e A g ent e: Gayle@GQ.com w : Gayle.GQ.com o: 210 -126-80 80 4 937 Teleg rap h A ve. Suit e A , Oakland , CA 94 60 9