Alejandra Torres Home Buyer Guide

home THE ROAD TO

A HOME BUYER'S GUIDE

Alejandra Torres 608.622.7016 | ALEJANDRA@LAUERREALTYGROUP.COM

Committed to bringing you the most professional, informative, trustworthy & dedicated service.

My responsibility is protecting the interests of my clients in every transaction.

Welcome

Powerful Results. Real People Lauer Realty Group is a full-service residential brokerage, specializing in home sales in the most desirable neighborhoods in Madison, Dane County and beyond. It takes more than a computer and MLS access to move you when and where you want to go.

The best real estate transactions happen with a great realtor at your side, and gives you the edge in the process. We bring our clients the latest information, technology, and our mastery of the industry. In using our expertise, you’re tapping into the top performing 1% of realtors in Dane County for over a decade.

At your side and on your side. Our Madison real estate agents live, work, and play right here in the Madison area and are deeply tied to the communities where you’re looking to purchase. We know the perks and quirks of each neighborhood, and we’ll work hard to honor the unique hopes and dreams you bring to the table when searching for a home.

At Lauer Realty Group we believe that being the best isn’t something you say, it’s something you are. We believe the most important thing is that we listen to our clients’ wants, needs, and expectations and deliver on them every single time. Thank you for your interest in our firm and we look forward to delivering a superior real estate experience that exceeds your every expectation.

Cheers, Liz Lauer

TO BUYING A HOME

ten steps

HOME BUYING PROCESS FIND THE RIGHT AGENT CHOOSE A LENDER START HOME SHOPPING MAKE AN OFFER ORDER AN INSPECTION NEGOTIATE FINAL OFFER APPRAISAL ORDERED SCHEDULE THE MOVE CLOSING DAY

HOME BUYING PROCESS FIND AN AGENT

Select an agent that is knowledgeable, caring and understanding. It’s important to have an agent that is compatible with you so that you can fully trust them to give you the best advice and look out for your best interest. It is crucial to work with a Buyer’s Agent as he/she is required to put your needs and concerns above all others.

GET PREAPPROVED

It is important to work with a reputable Lender. Meeting with a Lender should really take place prior to looking at properties so you know what you can comfortably afford. The Lender will also give you a preapproval letter that is sent with the offer to purchase so the Seller is reassured you are a serious Buyer that can afford a home.

START SHOPPING

This is where you really put your Buyer’s Agent to work so be sure to let the Agent know exactly what you are looking for in a home. Buyer’s Agents have multiple methods of searching and have the tools necessary to find you the right house at the right price. Buyer’s Agents have the ability to schedule multiple properties for a tour that saves you time, and they will keep you up to date on new listings that match your specific criteria.

OFFER TO PURCHASE

Once you’ve decided on a home you, the next step is to write an offer to purchase. A Buyer’s Agent will review comparable sold properties, discuss any concerns and draft the offer with your best interests in mind. They will explain the offer to purchase in layman’s terms and will be there to answer any questions you may have. There are 3 key items in an offer: Earnest Money, Inspection, and Financing

EARNEST MONEY

Earnest money essentially shows good faith that you are going to do you best to follow through on this binding contract. It is usually delivered within 3 days of the accepted offer and the amount is typically 1-2% of the purchase price, or $1,000 (whichever is greater).

The offer to purchase goes into great detail about earnest money technicalities.

HOME INSPECTION

A home inspection is a crucial step in the buying process. It typically takes place within 10 days of acceptance of the offer. A licensed Wisconsin Home Inspector of your choice completes the inspection and the Buyer should be in attendance as this is the best time to really get up close and personal with your home. If any major defects are found in the inspection that were not disclosed on the condition report the Buyer and Seller may negotiate the terms of the defects.

FINANCING & APPRAISAL

Upon acceptance of the offer, your Buyer’s Agent will deliver a copy of the offer to your Lender. The Lender will then ask you for any required paperwork you may need to submit, order the appraisal and send everything to underwriting. Typically 30-45 days after the accepted offer the Lender will then deliver a financing commitment letter to you that guarantees the money will be there at closing on your behalf. The letter will be delivered to the Seller and removes your financing contingency.

HOME INSURANCE

The Buyer is responsible for obtaining a year of homeowner’s insurance prior to closing. Insurance companies are all different and competitive in pricing. You will be required to obtain at least coverage of the mortage amount.

TITLE INSURANCE

This guarantees the Seller has legal and “marketable” title to the property. Should a problem arise, the Title Insurer pays any legal damages.

UTILITIES

Buyer will need to make sure to contact local utlities prior to closing.

Ask your Agent to provide you with this information if needed.

FINAL WALK THROUGH

Up to 3 days prior to closing Buyer can revisit the home to make sure it is in the same condition as when the offer was accepted and that all work that may have been agreed to from the inspection is in fact done.

CLOSING

The final step is closing! Typically held at a Title Company chosen by the Seller, Buyer will need to bring ID and a cashier’s check made payable to the Title Company for the amount shown on the ALTA statement. The ALTA statement is usually received by the Buyer 3 days prior to closing and either the Buyer’s Agent or Lender will discuss it with them.

FIND THE RIGHT AGENT Buying a home is one of the most significant purchases in a lifetime. It is essential to have an experienced agent in your corner, always looking out for your best interest. A buyer agent’s fiduciary responsibility is to represent the buyer and to ensure that they are protected.

After all, a seller has someone in their corner. A listing agent has an allegiance to the seller. Their goal is to get the seller top dollar for their home. There is incredible value in having someone working for YOUR best interests when buying a home.

GETTING YOU IN THE DOOR

We will narrow down the homes that fit your unique wants and needs and get you in the door! I look at dozens of homes every week, and I can help you identify potential problems within a home.

HANDLING CHALLENGING CONVERSATIONS

When repairs or changes in price need to be made, I will be your guide and handle requesting any repairs or changes in price to the sellers.

STAYING ON TOP OF THE PAPERWORK

Buying a home involves many types of documentation. I have the experience and knowledge to navigate real estate contracts.

Ensuring that nothing is overlooked, and that you truly understand what a paper means before ever signing on the dotted line.

ON YOUR SIDE

A buyer’s agent will represent your best interests. With a pulse on the local market and a sound understanding of how various amenities effect the value of a home, we will make sure we submit a competitive offer on the right house for you.

NEIGHBORHOOD EXPERT

I work daily in neighborhoods with inspectors, contractors, and negotiating with sellers. I have the market knowledge you need to get you the home of your dreams at the best price! Understanding the local real estate market is essential when it comes time to make an offer on a house.

PROBLEM SOLVER

I will work hard to protect all of your interests and take on any issues that may arise throughout the entire process. I work tirelessly to make sure buying a home is a fun and stress-free process.

AFFORDABILITY

The seller typically pays the commission for both the seller’s agent and the buyer’s agent.

BUYER AGENT

benefits

Services & Duties Provided

Seller’s Agent

Buyer’s Agent

Arrange Property Showings

X

X

Assists with Financing

X

X

Provides Accurate Information

X

X

Explains Forms and Agreements

X

X

Monitors Escrow and Closing

X

X

Provides Information about Listed and Unlisted Properties

X

Gives Advice in Your Best Interest

X

Completes a Thorough Analysis of the Property You’re Interested In

X

Promotes and Protects Your Best Interest

X

Negotiates the Best Price and Terms For You

X

Points Out Reasons Not to Buy Specific Properties

X

Writes the Offer With Your Best Interest In Mind

X

HOW DOES MY BUYER’S AGENT

get paid?

The different ways commission is dispersed.

Homes listed with full services brokers and flat fee brokers: 100% of the commision is paid by the Seller at closing.

The Listing Agent charges a fee to the list the home on the MLS. The Listing Agent typically splits this fee with the Buyer’s Agent. *Typically there is no Listing Agent involved in a flat fee listing transaction.

For Sale by Owner Homes (FSBO): Sellers will usually pay 100% of the commission to the Buyer’s Agent.

Some Sellers will pay 50% of the Buyer’s Agent comission and ask the Buyer to pay the other 50%.

A few will not pay any part of the Buyer’s Agent commission and even fewer are not willing to work with any Realtor at all. *Most For Sale By Owners appreciate the work the Buyer’s Agent does to facilitate a smooth and successful sale of their home.

Procuring Cause: Once you have a Buyer Agency Agreement signed and completed with a Buyer’s Agent, YOU SHOULD ONLY SEE HOMES WITH YOUR AGENT. Seeing homes with another Agent may affect your Agent’s ability to receive compensation. Attending open houses is an exception and you are welcome to inform the Agent hosting the open house of your Buyer Agent’s contact informaiton.

CHOOSE A

lender

recommended LENDERS

The following Lenders are recommended by previous clients. You are not required to choose from this list and are encouraged to do your own research to determine the best Lender for you.

MARGARET LANDPHIER

ASHLEY BERGREN

Office: 608-250-7234 Mobile: 608-225-0642 Email: mlandphier@johnsonfinancialgroup.com

Office: 608-232-5000 x2107 Mobile: 608-514-2268 Email: abergren@uwcu.org

CODY ZACH

ABBEY DENOBLE

Office: 608-243-5000 x2611 Mobile: 608-234-1632 Email: cody.zach@summitcreditunion.com

Office: 608-598-2283 Mobile: 608-234-0689 Email: adenoble@bell.bank

JASON STAMPFLI

RENAE STAFSLEIN

Office: 608-572-7111 Mobile: 608-213-2008 Email: jason@stampflimortgage.com

Office: 608-825-2330 Mobile: 608-576-2483 Email: rstafslien@onecommunity.bank

TOM LONG, Commercial

EDUARDO GARCIA, BILINGUAL

Office: 608-835-2415 Mobile: 608-501-4820 Email: tlong@onecommunity.bank

Office: 608-243-5000 x1511 Mobile: 920-342-3091 Email: ed.garcia@summitcreditunion.com

Johnson Financial Group

Summit Credit Union

Stampfli Mortgage

One Community Bank

UW Credit Union

Bell Bank Mortgage

One Community Bank

Summit Credit Union

protect your loan approval DON’T buy or lease a new vehicle.

DON’T quit your job to change industries, start a company or go into business for yourself.

DON’T switch from a salaried job to a commission job or a 1099 independent contractor position.

DON’T transfer large sums of money between bank accounts.

DON’T forget to pay your bills, even ones in dispute.

DON’T open new credit cards.

DON’T make big purhcases on existing credit cards. (Buy furniture and appliances AFTER you own the home.)

DON’T close any credit card accounts.

DON’T accept a cash gift without filing the proper “gift” paperwork.

DON’T make random, undocumented deposits into your bank account.

DON’T spend the money you have set aside from closing.

DON’T omit debts or liabilities from your loan application.

DON’T do things that cause inquiries into your credit score. This includes test driving cars (they sometimes pull your credit)!

DON’T co-sign a loan for someone. This debt will change the ratios that qualified you for your loan.

Should circumstances arise where you need to engage in these activities, consult your Lender first.

START

shopping

START HOME SHOPPING START TOURING HOMES IN YOUR PRICE RANGE Time to start shopping! We will take notes on all the homes we visit. It can be hard to remember all the details of each home, so take pictures or video to help you remember each home, and review the notes you have written. Once we have found THE house for you, we will present an appropriate offer based off of recent sales and current buyer activity in the area, as well as the value of the property in it’s current condition. Negotiations may take place after the offer is presented.

TIP Evaluate the neighborhood and surrounding areas •Are the surrounding homes well maintained to your liking?

•How much traffic is on the street, does it matter to you?

•Is it conveniently located to schools, shopping, restaurants, & parks?

Home Wishlist/Must Haves

MAKE AN

offer

MAKE AN OFFER WHEN TO MAKE AN OFFER:

So you have found THE house! Congrats! In today’s market when the demand is higher than the amount of homes available it is important to act fast!

HOW MUCH TO OFFER:

We will sit down and look at recent sales and current buyer activity in the area, as well as the value of the property in it’s present condition.

Putting all this information together, we will determine the price that you would like to offer.

SUBMITTING AN OFFER

There are some components to an offer that makes it more appealing to the sellers.

•Put Your Best Foot Forward

We will work together to discuss your options and create your very best offer. Depending on the circumstances, you may have only one chance to make a good impression.

•Put Down an Earnest Deposit

A healthy earnest money deposit written into the offer shows the seller you are serious

•Cash Talks

A transaction that is not dependent on receiving loan approval is often more attractive to a seller

•Shorter Inspection Periods

Try shortening the inspection period to 10 days

•Contingencies

If the market is very competitive we may discuss the needed contingencies vs what to expect if you choose to exclude any.

•Offer to Close Quickly

Many sellers prefer to close within 30 days.

THE PROCESS AFTER YOU SUBMIT AN OFFER THE SELLER COULD •ACCEPT THE OFFER •DECLINE THE OFFER This happens if the seller thinks your offer isn’t close enough to their expectations to further negotiate.

•COUNTER-OFFER A counter-offer is when the seller offers you different terms. If this happens, you can:

•ACCEPT THE SELLER’S COUNTER-OFFER •DECLINE THE SELLER’S COUNTER-OFFER •COUNTER THE SELLER’S COUNTER-OFFER You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away.

OFFER IS ACCEPTED - CONGRATS! You will sign the purchase agreement and you are now officially under contract! This period of time is called the contingency period. Now inspections, appraisals, or anything else built into your purchase agreement will take place.

ORDER AN INSPECTION During the inspection period, you will schedule an inspection with a reputable home inspector to do a thorough investigation of the home. Once this is complete, the inspector will provide us with a list of their findings. You can take the issues as-is or request the seller to address some or all of the findings. We will be mindful and reasonable on smaller items, while being very cautious and vigilant of potentially significant issues.

NEGOTIATE FINAL OFFER Issues typically arise after the home inspection, and those issues tend to result in another round of negotiations for credits or fixes.

1. Ask for a credit for the work that needs to be done. Likely, the last thing the seller wants to do is repair work.

2. Think “big picture” and don’t sweat the small stuff. Tile that needs some caulking, or a leaky faucet can easily be fixed.

Repairs are still up for negotiation and perhaps a small credit would help with closing costs.

3.Keep your poker face. Typically it's just you and the inspector present during inspections, however occasionally the seller and/or list agent may be present. Revealing your comfort level with the home could come back to haunt you in further discussions or negotiations.

APPRAISAL ORDERED Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The appraisal lets all parties involved know that the price is fair. The loan file then moves on to the mortgage underwriter.

If approved you will receive your final commitment letter that includes the final loan terms & percentage rates.

Property Title Search

Homeowner's Insurance

This ensures that the seller truly owns the property, and that all existing liens, loans or judgments are disclosed.

You'll need insurance for the new home prior to closing.

This will protect against things like fire, storms and flooding

home

INSPECTION When you are purchasing a 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 (weather permitting) and Heating Systems *Ventilation *Roof and Attic (if accessible) *Foundation * General Structure

The inspection is not designed to identify every minor problem or defect in the home. It is intended to report on defects that, at the time of the inspection, are identified as causing health or safety risks, or that affect the resale value of the property. Should serious problems be found, the Inspector will recommend that an additional inspection be done by a Qualified Professional (i.e. Electrician, Plumber, Roofer, ect).

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, or if you should or should not buy the home. The Inspector’s job is to make you aware of repairs that are recommended or necessary.

As a guideline, the Seller may be willing to negotiate; a.)The completion of repairs b.)A credit for the completion of repairs In addition to the overall inspection, you may wish to have separate tests conducted (i.e. well water, septic system or the presence of Radon gas).

When choosing a Home Inspector, be sure to select one that has been certified as a qualified and experienced member by a Trade Association.

We strongly recommend being present at the inspection. This is to your advantage, as you will be able to clearly understand the inspection report and know exactly which areas need 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 independent third party.

qualified

INSPECTORS

The following inspectors again are recommended from previous clients, as well as being inspectors we know are thorough and professional. Again, you are not required to use an inspector on this list and are welcome to do your own research and pick an inspector of your choice.

KYLE JENSEN

BRETT TSCHUMPER

Cell: 608-609-0369 Email: kyle@homestart.pro

Office: 608-276-8060 Email: btschumper@amerispec.net

KYLE BECKSTROM

MARK MICHAELS

Office: 608-395-9689 Email: madisonhomeinspectionllc@gmail.com

Office: 608-438-7499 Email: madisonpillartopost@gmail.com

DENNY KRUGER

PAT SKEFFINGTON

Office: 608-575-0371 Email: swhi0371@gmail.com

Office: 608-492-0360 Email: pjskeffinton@gmail.com

HomeStart Inspections

Madison Home Inspection

Southern WI Home Inspection

PATRICK SHANNAHAN New Roots Home Inspection

Office: 608-354-5366 Email: newrootshomeinspection@gmail.com

AmeriSpec

Pillar to Post

Inspection Pros

REACHING

closing D A Y

scheduling

YOUR MOVE AFTER SIGNING •FINALIZE MORTGAGE •SCHEDULE HOME INSPECTION •Declutter! Sort through every drawer, closet, cupboard & shelf, removing items you no longer need or like. Donate or sell items that are in good condition •Make sure to have copies of all important documents and have them safely stored to easily find when needed •Create an inventory of anything valuable that you plan to move •Get estimates from moving companies

4 WEEKS TO MOVE

•Give 30 days notice if you are currently renting •Schedule movers/moving truck •Buy/find packing materials •START PACKING

3 WEEKS TO MOVE

•ARRANGE APPRAISAL •COMPLETE TITLE SEARCH (TITLE COMPANY WILL DO THIS)

2 WEEKS TO MOVE

•SECURE HOME WARRANTY •GET QUOTES FOR HOME INSURANCE •SCHEDULE TIME FOR CLOSING •Contact utility companies (water, electric, cable) •Change address: mailing, subscriptions, etc.

•Minimize grocery shopping •Keep on packing

1 WEEKS TO MOVE

•OBTAIN CERTIFIED CHECKS FOR CLOSING •SCHEDULE AND ATTEND FINAL WALK THROUGH •Finish packing •Clean •Pack essentials for a few nights in new home •Confirm delivery date with the moving company. Write directions to the new home, along with your cell phone number

closing day

CLOSING DAY Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically, closing takes four to six weeks. During this time, make sure to make no big purchases or job changes that could affect your loan approval prior to closing day. Funds are brought the day of to complete the purchase.

CLOSING DISCLOSURE Lenders are required to provide you with a closing disclosure, at least three days before closing. This will show you what your final loan terms and closing costs will be. You will have three days to review the statement. This is done to ensure that there are no surprises at the closing table. If there is a significant discrepancy between the loan estimate and the closing disclosure, we must notify your lender and title company immediately.

FINAL WALK THROUGH We will do a final walk through the home within 3 days of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to make has been done.

We will be sure to: • Make sure home is clean • Seller removed any and all personal property that was not discussed in offer • Any included items in offer have remained on property CLOSING TABLE Who will be there: • Your agent • The seller • The seller’s agent • A title company representative • Your loan officer • Any real estate attorneys involved in the transaction The closing typically happens at the title company. You will be signing lots of paper work so get your writing hand warmed up! Some of the papers you will be signing include: the deed of trust, promissory note, and other documents.

CLOSING COSTS Closing costs can vary depending on your home’s purchase price and where you are located. Your lender should be able to help determine the closing costs as well. You can generally expect your closing costs to be around 2% to 5% of the home’s sales price.

BRING TO CLOSING • Government-issued photo ID • Homeowner’s insurance certificate • A certified check for the rest of your down payment and closing cost (personal checks are not accepted at closings) RECEIVE YOUR KEYS Congratulations! It was a lot of hard work but you are now officially home owners!!

Time to throw a party and get to know your new neighbors!

RESOURCES & MORE

BICYCLING IN MADISON Madison is one of the top bicycling cities in the Nation! In 1972, Madison began the move to make our city a bicyclist’s community. We now have a network of off-street paths and bike lanes, road signals and more. With off-road and on-road bike paths, there’s plenty to choose from, whether young and inexperienced, or the seasoned cyclist.

Here, bicyclists are expected to obey rules of the road just like any motorist. In return, we pay them the same respect: bike paths get plowed after snow storms (yes, we even have Winter Cyclists!) and debris is actively cleared. As a very bike-friendly city, motorists and pedestrians are actively aware and considerate of the bicyclists whereabouts.

Madison Metro Bus Racks Traveling long distance across this isthmus-city can be difficult. Catch the bus and plop your bike on the front! Free to use, buses accommodate up to two bikes.

CityofMadison.com/metro/planyourtrip/bikeracks.cfm

Madison B-Cycle Rent bicycles through affordable and convenient means! At any number of locations, available bicycles are lined up and ready to use all over town. Look out for racks full of red bikes. You can buy a membership for 1 day, 1 month, or 1 year. After 30 minutes of free use, small fees will apply. Don’t want to pay the hourly fee? Just return your bike and pick up a new one!

Bike Features: Skirt and chain guards Handle bar baskets Automatic lights 3-speed Madison.BCycle.com

Bicycle Programs Ironman Wisconsin Madison takes the Ironman Triathalon seriously and is a great location for cheering crowds to watch the particpants compete. www.ironman.com/triathalon/events/americas/ironman/wisconsin Walk and Roll Twice a year, this car-free event makes streets open to cyclists, walkers, rollerbladers, and more. Bringing over 20,000 people out,there’s live music, food, and activities! it was previously known as “Ride the Drive.”

CityofMadison.com/Parks/Activities/WalkandRoll.cfm Bike to Work Week This event gets Madison residents out of their cars and on to 2 wheels. Save gas and get fit!. www.wisconsinbikefed.org/events/bike-to-work-week/ Safe Routes to School Our schools teach students the rules of the road, bicyle safe and proper bike gear. www.wisconsinbikefed.org/for-your-community/bike-and-walk-to-school/

State Trails Bicycling Pass

With over 40 State Trails to choose from, there is a never ending selection of routes and scenery you can see!

Did you know some of these trails require a bicycle pass?

Annual Pass: $25 Daily Pass: $5 TRAIL FEES GO TOWARDS: Trail Maintenance Debris Pick Up Path Clearing Safety Monitoring ...And More!

DON’T GET CAUGHT WITHOUT ONE! If you’re riding the trail without pass, you will earn yourself a $5 fee on top of purchasing the trail pass.

STATE PARKS, FORESTS, AND RECREATION AREA TRAILS THAT REQUIRE A PASS: Black River State Forest Blue Mound State Park Brule River State Fores Flambeau River State Forest Governor Dodge State Park Governor Knowles State Forest Hartman Creek State Park Hoffman Hills State Recreation Area

Lapham Peak Unit Kettle Moraine State Forest Northern Highlight American Legion State Forest Northern Unit Kettle Moraine State Forest Peninusla State Park Perrot State Park Richard Bong State Recreation Area Southern Unit Kettle Moraine State Forest Wildcat Mountain State park

STATE TRAILS THAT REQUIRE A PASS: 400 State Trail Badger State Trail Bearskin State Trail Buffalor River State Trail Capital City State Trail Chippewa River State Trail Elroy-Sparta State Trail Gandy Dancer State Trail Glacial Drumlin State trail Great River State Trail Hillsboro State Trail

LaCrosse River State Trail Military Ridge State Trail Mountain Bay State Trail Old Abe State Trail Pecatonia State Trail Red Cedar State Trail Stower Seven State Trail Sugar River State Trail Tomorrow River State Trail White River State Trail

dnr.wi.gove/topic/parks/trailpass.html

Utilities & Resources Resource

Website

Phone

Alliant Energy (Gas/Electric)

www.alliantenergy.com

1-800-ALLIANT

AT&T (Internet/Phone/TV)

www.att.com

Spectrum (Internet/Phone/TV)

www.spectrum.com

1-888-406-7063

Community Action Coalition

www.CACSCW.org

608-246-4730

CSA (Community Supported Agriculture)

www.csacoalition.org

608-226-0300

Farmer’s Markets

www.dcfm.org

Habitat Restore

www.restoredane.org

Madison Gas & Electric

www.mge.com

Madison Property Assessor

www.cityofmadison.com/assesor/ property/

Madison School District

www.madison.k12.wi.us

Madison Neighborhoods

www.cityofmadison.com/neighborhoods

Madison Zoning

www.cityofmadison.com/ dpced/bi/zoning/14

Madison Metro Bus

www.cityofmadison.com/metro

Madison Libraries

www.madisonpubliclibrary.org

Madison Permit

www.cityofmadison.com/ developmentcenter/permitfees/ permits.cfm

US Postal Service- Address Change

moversguide.usps.com

Water/Sewer

Call the local municipality your home is located within.

608-252-7222

ABOUT US

nice to meet you Alejandra Torres BROKER ASSOCIATE

With a background in hospitality and dedication for working with clients to achieve their goals, Alejandra Torres made the move towards Real Estate when she received her license in 2014. After several years in the business and her enthusiasm for it growing, she decided to expand her knowledge to better aid her clients and became a Real Estate Broker in 2017. Alejandra’s passion for people, knowledge of the real estate market, and determination to ensure her clients have the best experience have allowed her to continue to succeed in this industry. The people she works with are more than just clients, Alejandra exceeds at building deep relationships and bonds that go beyond their real estate journey. She takes the time to really understand them and their stories so she can ensure their goals are achieved and is always committed to her clients’ best interests. A strong understanding of the way our current market works and what it takes to win at negotiations makes her an ideal Listing and Buyer Specialist.

As a Wisconsin transplant, hailing from Miami, Florida with roots in the beautiful country of Nicaragua, Alejandra is fluent in Spanish. She graduated from UW La Crosse with her Bachelor’s in Public Relations and then continued on to the Florida International University to earn her Master’s in Early Childhood Education. After living in Florida for a few years post college, Alejandra found herself settling in Madison, where she discovered her love for Real Estate. She has since made this city her home. With 2 young children, she loves what Madison has to offer culturally and geographically. You’re likely see her around town, discovering great local eateries, enjoying some time on the lakes, or biking the network of paths throughout the city.

MEET THE TEAM Liz Lauer

Tobi Silgman

Mark Gladue

Rachel Whaley

Tamara McDougal

Renee Heine

Asher Masino

Ben Anton

Lindsey DeFlorian

Kate Weis

Tina Rogers-Frisch

Lindsey Cooper

Brett Larson

Minh Nguyen

Jon Millard

Cristina Daza

Toni Kraile

BROKER/OWNER

REALTOR®

REALTOR®

BROKER ASSOCIATE

REALTOR®

MARKETING COORDINATOR

Brian Rea

AGENT ENGAGEMENT LAISON ADMINISTRATIVE ASSISTANT

REALTOR®

REALTOR®

BROKER ASSOCIATE

EXECUTIVE ASSISTANT COMPLIANCE BROKER

BROKER ASSOCIATE

REALTOR®

BROKER

REALTOR®

REALTOR®

Tom Syring REALTOR®

REALTOR®

EXECUTIVE ASSISTANT FOR GLADUE TEAM

Community

OUTREACH We believe in and are committed to staying connected and involved with our local community. We love to give back and throughout the year we participate, contribute, sponsor, and donate time and resources to many wonderful organizations and causes. You’ll be sure to find us volunteering in neighborhood festivals, walking in a community parade, and supporting local artists. Whether it’s fundraising with the Goodman Center for the Annual Thanksgiving Drive, or working with GSAFE to ensure LGBTQ+ youth and families thrive, we are dedicated and passionate about the community we live in.

#atLRGinthecommunity

REVIEWS & MORE

“Alejandra was very pleasant to work with and was attentive to our needs. She always answered messages and emails promptly. She was professional, yet extremely personal. We felt confident that she was helping us get the perfect house. We also appreciated that she didn’t just want us to settle on a house that just wasn’t right.”

“Alejandra was particularly effective in showing us properties we liked and helping us get to know more of Madison. She was consistently professional, easy-going and has a great sense of humor. She guided us through the entire process with grace and flexibility. I would highly recommend her.”

“As first time home buyers, Alejandra made finding an affordable and quality home SO easy and smooth. She taught us a lot about the market and how to make a strong offer. She was quick to answer all of our questions and discuss strategy in such a competitive market. She also connected us with a very helpful mortgage company that was able to help us get affordable financing!”

“Alejandra was absolutely amazing! I was able to contact with her at any time. She even changed her plans to come and show us a house at the last minute and we are in that house right now thanks to her great advice and quick service.

There wasn’t one thing that was difficult with this house purchase. Thank you Alejandra and team!”

"Working with Alejandra was a delight. She was always available for questions, and she worked diligently to ensure that we were getting a deal we were happy with. We especially valued Alejandra's critical eye; she is quick to note both what is good and what is less desirable about a property or what might present a headache down the road, and it's clear she has a great deal of experience both in showing homes and in managing properties herself. And every time we spoke with another agent, inspector, or our loan officer, we were met with the same response: "Oh, you're working with Alejandra? She's great!"

"Alejandra is very patient and responsive, she guided us through the process and helped us find the house that we like. In this competitive market, her skills and strategies made it possible to secure a house within a month and in a very desirable location. She is full of ideas when it comes to writing a strong offer. During showings, she would spend time with us not only showing the property but explaining some of the very important details about the property, she has a keen eye when it comes to spotting any possible issues and points of concern.

All these definitely made it possible to get a great house at a great location and a great price. Highly recommended."

glossary of Real Estate terms

These terms represent a small portion of the jargon used in describing the purchase process for Real Estate. An important part of our relationship is making you more familiar with how these terms are part of your puchase and ownership of Real Estate. We have provided here a simplified, common language explanation of these terms limited to how they will most likley be used in your home puchase process.

Appraisal-An estimate of the quanitity, quality or value of something. The process through which conclusions of property value are obtained; also refers to the report that sets forth the process of estimation and conclusion of value. (Most Lenders require an appraisal of a property before giving you a loan to confirm that the sale price reflects the market value of the home.)

Assessment-The imposition of a tax, charge or levy, usually according to established rates. (In Dane County, Real Estate taxes are based on the Municipality’s assessment or financial value assigned to a home and land. Ask us for the current tax rates in the areas you are looking.)

Buyer Agency Agreement-An agreement which allows a REALTOR® to represent the best interests of a Buyer throughout the search, negotiations, and purchase process.

Capital Gain-Profit earned from the sale of an asset.

Closing Statement-A detailed accounting of a Real Estate sale showing all cash received, all charges and credits accounted for, and all cash paid out in the transaction.

This is the standardized form which is used as the final accounting at time of closing to determine the amount of funds due at the time of closing. (Also known as a Settlement Statement or ALTA.) Competitive Market Analysis (CMA)-A comparison of the prices of recently sold homes that are similar to a particular home in terms of location, style and amenities.

(When we find you a home that you are going to make an offer on, we will look at the sale prices of comparable properties to help determine an offer price.)

Earnest Money-Money paid by a Buyer under the terms of an offer contract, held by the Listing Broker during the term of the contract, and credited back to the Buyer at time of closing. This money is understood to be forfeited if the Buyer defaults on their offer contract.

Easement-A right to use the land of another for a specific purpose, such as for a right-of-way or utilities. An easement can stay in place beyond the sale of a property, therefore any Buyer will receive Title Insurance to discover any recorded easements that will stay with the property.

Equity-The interest or value that the owner has in proeprty over and above any indebtedness.

Escrow-The closing of a transaction through a third party called an Escrow Agent, or escrowee, who receives certain funds and documents to be delivered upon the performance of certain conditions outlined in the escrow instructions. (Brokerage companies, i.e. Lauer Realty Group Inc, acts as an Escrow Agent while holding earnest money.)

Fixture-An item of personal property that is attached to the Real Estate property or function of the property in such a way that it is considered part of that Real Estate (i.e. light fixtures, floorboards, furnace, water heater, doorknobs.

Lien-A right given by law to certain creditors to have their debts paid out of the debtor’s property. This is a debt that must be paid by the Seller prior to receiving any proceeds on the sale of a home and includes any debts for which the property is put up as collateral (a mortgage).

PITI-Principle, Interest, Taxes and Insurance. This amount makes up the monthly payment normally due monthly to the home owner’s mortgage company.

Private Mortgage Insurance (PMI)-Insurance provided by private carrier that protects a Lender against a loss in the event of a foreclosure and defi ciency. This is usually required when a loan amount exceeds 80% of the value of the property. Ask about loan program options that avoid PMI. Special Assessment-A tax or levy customarily imposed against only those specific parcels of Real Estate that will benefit from a proposed public improvement like a street or sewer. (It is important in a Real Estate transaction to determine who will be paying the balance if a special assessment is upcoming or currently due.)

Title Insurance-A policy insuring the owner or mortgagee against loss by reasons of defects in the title (ownership) of a parcel of Real Estate, other than encumbrances, defects and matters specifically excluded by the policy. It is also provided as proof of ownership of the property, usually provided by the Seller to a Buyer, which also shows any other liens or encumbrances which are attached to a property.

Truth-in-Lending-Act requiring credit institutions to inform borrowers of the true cost of obtaining credit.

Notes

Notes

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Alejandra Torres 608.622.7016 ALEJANDRA@LAUERREALTYGROUP.COM 2229 ATWOOD AVE MADISON, WI 53704 LAUERREALTYGROUP.COM