Asher Masino Home Buyer's Guide

home THE ROAD TO

A HOME BUYER'S GUIDE

Realtor ®

608-509-8563 Asher@LauerRealtyGroup.com LauerRealtyGroup.com/Asher-Masino 2229 Atwood Ave. Madison, WI 53704

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 give 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 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.

seven steps TO BUYING A HOME

FIND THE RIGHT AGENT PREPARE FINANCES & GET APPROVED START HOME SHOPPING MAKE AN OFFER WORK THROUGH CONTINGENCIES SCHEDULE THE MOVE CLOSING DAY

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. The 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 will handle making these requests 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. I ensure that nothing is overlooked, and that you truly understand what a contract 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, I 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.

HOW DOES MY BUYER’S AGENT

get paid?

The different ways commission is dispersed.

Homes listed with full services brokers and flat fee brokers: Typically 100% of the commission 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.

There may be listings in which a Seller doesn’t choose to cover all of a Buyer’s Agent fee.

They could cover part of it or none of it. The Buyer can then decide if they want to see that property knowing they will then have to cover the remainder of their Agent’s fee or the Buyer can choose to not pursue that property.

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.

PREPARE FINANCES GET APPROVED Being pre-approved, unlike being pre-qualified, means you've actually been approved by a lender for a specific loan amount. You will need to provide documented financial information (income, statements, assets, debt, & credit reports, etc.) to be reviewed & verified by the lender. To be most competitive, you can also take this a step further and ask for a fully underwritten approval or loan commitment.

HOW MUCH HOUSE CAN YOU AFFORD? Mortgage lenders recommend you do not buy a home that is more than 3 to 5 times your annual household income. If you are not purchasing a home with cash, you will need a mortgage approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs. Some buyers are concerned with keeping their monthly payments as low as possible, others want to make sure that their monthly payments never increase.

CHECK YOUR CREDIT

A mortgage requires a good credit score. You can improve your score by: ● Paying down credit card balances ● Continuing to make payments on time ● Avoid applying for a new credit card or car loan until you have been approved, and have closed on a house. ● Avoid making big purchases until you have been approved, and have closed on a house. ● If possible, avoid job changes until you have been approved, and have closed on a house.

SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES

In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspector. ● A minimum Down Payment is typically between 3% & 20% of the purchase price. ● Earnest Money is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit. This goes towards your down payment and is not an additional cost to you, but it is an upfront cost to be aware of. This is typically submitted within 4 days after an accepted offer. ● Closing Costs for the buyer run between 2% & 5% of the loan amount. ● A Home Inspection costs $350 to $550.

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.

MEGAN DAVIS

PENNY CHARLSON

Office: 608-819-2404 Mobile: 608-212-1895 Email: mdavis@parkbank.com

VP of Mortgage Lending Mobile: 262) 853-6412 Email: Penny.Charlson@rate.com

MARGARET LANDPHIER

RICK MCKINLEY

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

Office: 608-232-5000 x2015 Email: rmckinley@uwcu.org

Park Bank

Johnson Financial Group

AARON WALDRON Wintrust Mortgage

Mobile: 608-445-9259 Email: AWaldron@WintrustMortgage.com

Guaranteed Rate

UW Credit Union

TIM GREENE

Summit Credit Union Office: 608-243-5000 x2147 Mobile: 608-444-9529 Email: tim.greene@summitcreditunion.com

GET

qualified

TYPE OF LOAN

CREDIT SCORE

DOWN PAYMENT

CONVENTIONAL USDA LOAN

620 620

3% minimum NO DOWN PAYMENT

FHA LOAN

580+

3.5%

VA LOAN 203K LOAN

620 640

NO DOWN PAYMENT 3.5%

JUMBO LOAN

700

10-20%

INCOME

qualifications

QUALIFYING INCOME

NON-QUALIFYING INCOME

W-2 Income/Salary Income from part-time jobs Income from a second Job Overtime & Bonuses Seasonal jobs Self-employed Income Alimony & child support (Documentation required)

Income from the lottery Gambling Unemployment pay Single bonuses Non-occupying co-signer income Unverifiable income Income from rental properties

NEEDED

documents

W2’S FROM THE PAST 2 YEARS 3 MONTHS WORTH OF PAY-STUBS BANK STATEMENTS (PAST 3 MONTHS) PREVIOUS 2 YEARS OF TAX RETURNS LIST OF YOUR DEBTS & ASSETS DIVORCE DECREE ADDITIONAL INCOME DOCUMENTS

TYPES OF LOANS

TYPES OF

mortgage LOANS UPFRONT MORTGAGE INSURANCE

MONTHLY MORTGAGE INSURANCE

MINIMUM CREDIT SCORE

NONE

REQUIRED

620

NONE

1% of the loan amount.

REQUIRED

620

At least 3.5% of purchase price

1.75% of loan amount

REQUIRED

580-640

NONE

0-3.60% of loan amount

NONE

580

At least 3.5% of purchase price

1.75% of loan amount

REQUIRED

580-640

Varies from 10% -20%,

NONE

REQUIRED

700

WHO QUALIFIES

DOWN PAYMENT

CONVENTIONAL

Anyone who meets the minimum credit and income levels.

At least 3% of purchase price

USDA Department of Agriculture

Someone who is buying a home in a USDA -designated rural area.

FHA Federal Housing Administration

Anyone who meets the minimum credit and income levels.

Veterans

VA Department of Veteran Affairs

Personnel with honorable discharge Reservists & National Guard Surviving Spouses

203K Federal Housing Administration

JUMBO

Anyone who plans to purchase a fixer-upper or needs to renovate their home and meets credit & income requirements

Anyone who meets lenders credit, income & debt level requirements

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 for 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 HOME SHOPPING

START TOURING HOMES IN YOUR PRICE RANGE Time to start shopping! We will thoroughly investigate each home we visit. I will be checking to see if we can determine the condition of the mechanicals, roof, windows, foundation, electrical, plumbing, general condition, and level of updates of the home. We will discuss items you may need to budget for in each property. You should be thinking about if this feels like a great fit for you!

Once we have found THE house for you, we will draft an appropriate offer based on recent sales and current buyer activity in the area, as well as the value of the property in its current condition. Negotiations may take place after the offer is presented.

TIP Evaluate the neighborhood and surrounding areas •How much traffic is on the street & does it matter to you?

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

•Are the surrounding homes well maintained to your liking?

Home Wishlist/Must Haves

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 look at recent sales and current buyer activity in the area, as well as the value of the property in its 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 can make it more appealing to 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.

•Offer Earnest Money

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

THE PROCESS

•Cash Talks A transaction that is not dependent on receiving loan approval is often more attractive to a seller. You can accomplish this by offering cash or being fully approved, therefore not needing a financing contingency.

AFTER YOU SUBMIT AN OFFER

•Shorter Contingency Deadlines or Exclusions

THE SELLER COULD

We can try to shorten the contingencies if you can. If the market is very competitive we may discuss which contingencies are needed vs what to expect if you choose to exclude any. Giving an allowance is another option.

•ACCEPT THE OFFER

•Some Common Contingencies

This happens if the seller thinks your offer isn’t close enough to their expectations to further negotiate.

Inspection, Appraisal, Financing

•Offer to Close when the Seller wants Many sellers prefer to close within 30-60 days.

•DECLINE THE OFFER

•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 - CONGRATULATIONS! Once you and the Seller have come to an agreement, you have an ACCEPTED OFFER!! Woo hoo! You are now officially under contract!

This period of time is called the contingency period. Now the deadlines for an inspection, appraisal, or any other contingencies built into your purchase agreement will begin. I will assist you in working through these contingencies.

WORK THROUGH CONTINGENCIES INSPECTION During the inspection period, you will schedule an inspection with a licensed Wisconsin home inspector to do a thorough investigation of the home. Once this is complete, the inspector will provide us with a report of their findings. Much of the report is general information, maintenance tips, and a defect summary. You can accept the defects as-is or negotiate with the seller to address some or all of the defects in the form of repairs, credit towards closing costs, or price reduction. We try to be reasonable on smaller items, while being very cautious and vigilant of potentially significant issues.

APPRAISAL 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 gives a value to your lender and can also be used to negotiate with the seller if the appraisal comes in below the purchase price. If the home appraises for the purchase price or higher, then the loan file moves on to the mortgage underwriter.

If the appraisal is approved by your lender, you will receive your final loan commitment letter that includes the final loan terms & percentage rates.

FINANCING If you did not get a full approval at the beginning of your home buying process, then you needed to put a financing contingency into your offer. This protects you until the lender can issue a final loan commitment for your purchase. Once we have this, we are CLEAR TO CLOSE!

Property Title Search The seller is required to prove their title is free and clear to transfer to a new owner. The title insurance commitment ensures that the seller truly owns the property, and that all existing liens, loans or judgments are disclosed.

Homeowner's Insurance You will need insurance for the new home to be in place by the closing date.

qualified

INSPECTORS

The following Inspectors are recommended from previous clients, and are Inspectors that I 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.

PATRICK SHANNAHAN

PAT SKEFFINGTON

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

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

ERIC CHARTE

KYLE BECKSTROM

Cell: 608-446-0734 Email: eric.chartre@yahoo.com

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

New Roots Home Inspections

Ultimate Home Inspection

Inspection 360 Pros

Madison 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 maintenance issue 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, something that would reduce the structural integrity of the property, or something, if not working properly, that would significantly reduce the 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, etc).

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 you to complete repairs after closing 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.

scheduling

YOUR MOVE ONCE YOU HAVE AN ACCEPTED OFFER •Begin decluttering your home, room by room. Sort through your belongings and decide what to keep, donate, sell, or discard. The less you have to move, the easier and cheaper it will be.

• 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 •Schedule the closing time with your Buyer’s Agent •Give 30 days notice to your landlord if you are currently renting or start to find a sublet.

•Schedule movers/moving truck •Gather packing supplies such as boxes, tape, bubble wrap, and packing paper.

You can often find free boxes from grocery stores, liquor stores, or online marketplaces.

3 WEEKS TO MOVE •Begin packing items that you don't use frequently, such as seasonal clothing, books, or decorative items. Label boxes clearly with their contents and the room they belong in.

•If you have valuable or fragile items, make arrangements to transport them safely. Consider using specialty movers or packing them with extra care yourself.

2 WEEKS TO MOVE

•Secure home warranty •Contact utility companies (electric, gas, internet) to disconnect at current home and connect at new home for the day of closing.

•The title company transfers the water service.

•Start updating your address with relevant parties, such as the post office, banks, utilities, subscriptions, and any other important contacts.

•Keep on packing.

1 WEEKS TO MOVE •OBTAIN CERTIFIED CHECKS FOR CLOSING. •SCHEDULE AND ATTEND FINAL WALK THROUGH •Begin using up perishable items in your pantry, fridge, and freezer to minimize food waste on moving day.

•Clean your current home, and be prepared to clean your new home to your standards.

closing day

CLOSING DAY Closing is when you sign ownership and loan paperwork (if applicable), and you receive your new home’s keys! You will need to bring your photo ID and the final funds 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. The title company will also issue us a final settlement statement with your numbers and the Seller’s numbers.

FINAL WALK THROUGH We will do a final walk through of the home within 3 days prior to closing to check the property’s condition. We are making sure there hasn’t been any damages to the property since we wrote the offer. Additionally, will make sure any repair work that the seller agreed to make has been done. This final inspection takes about a half hour and will include: • Making sure the home is clean.

• Checking that the seller removed any and all personal property that was not discussed in offer • Checking that 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 • A cashiers check for the rest of your down payment and closing cost (personal checks are not accepted at closings) • Checkbook RECEIVE YOUR KEYS Congratulations! It was a lot of hard work but you are now officially a homeowner!!

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

Example of a fin al settlemen t statem ent

e m t u o ab ASHER MASINO REALTOR®

As a native of Madison, my roots go deep in this city. Growing up on the West side, but now a born-again East sider, I am very familiar with Madison, its neighborhoods, surrounding areas, and the wonderful things this city has to offer. My family lived in the original Greenbush neighborhood, and my great grandparents were co-founders of the Italian Workman’s Club on Regent Street. One of my grandpas also brought the sport of soccer into Madison creating the 56ers soccer club, coaching soccer at the University, and is the namesake of the Reddan Soccer Park in Verona. From neighborhood lifestyles to personalities, I will help you find your spot in this city.

I graduated from UW-Madison in 2010 with degrees in Sociology, and Gender and Women’s Studies. I continued on with graduate studies in Communication Arts where I realized that I would much rather work with people than read about them! Having always been interested in architecture and being raised around home building, real estate felt like a natural next step for me. Growing up, my parents built many houses. My dad was a homebuilder and an electrician; and my mom and step-dad general contracted the building of homes and also had investment properties, so I’ve been around homes, their construction and investment most of my life.

I have hit the ground running and thrived in real estate since beginning in 2015. I am very experienced with first time homebuyers, seasoned homebuyers and sellers, relocating buyers, and lake homes. I’m excited to bring a fresh perspective to real estate, focusing on the right kinds of multi-media marketing, modern staging, negotiation strategies, and helping clients find the right homes and neighborhoods that fit their personality and budget. I am committed to making the purchase or selling of real estate a smooth process. Customer service and advocacy is my top priority and I help my clients every step of the way. I am committed to bringing you the most professional, informative, trustworthy, and dedicated service. My responsibility is protecting the interests of my clients at every step.

I live with my partner, Portia, on the near-east side. We have been having fun renovating and redesigning our home top to bottom for the past few years. Portia works for a local video production company, shooting and editing videos (sometimes I get to make cameos!). I spend multiple days a week lifting weights at our locally owned neighborhood gym, where I focus on powerlifting and bodybuilding, and have lots of fun with my gym community. I have been competing in powerlifting for the past few years, which has been a fun addition to my training, and in the summers I play sand volleyball at a local bar. I have a passion for food and love to visit all of the amazing local restaurants Madison has to offer. I always attend the neighborhood festivals and enjoy lots of local music, food, and fun with friends and family!

Please reach out anytime to get started making your real estate goals a reality!

608-509-8563

LET'S CONNECT

ASHER@LAUERREALTYGROUP.COM

ASHER MASINO HOMES @LAUERREALTYGROUP

LAUERREALTYGROUP.COM/ASHER-MASINO

MEET THE TEAM Dane County‘s Trusted Real Estate Firm

Lauer Realty Group has been at the forefront of the Real Estate industry in Dane County since its inception in 2015. Our team prides itself on maintaining an award-winning record for outstanding service in matching people with real estate. Through our expansive network of local and state-wide professionals, we not only offer a full range of real estate services, but also provide recommendations for financing, mortgages, insurance, inspections, and contractors. For more info visit lauerrealtygroup.com

Liz Lauer

BROKER/OWNER

Tina Rogers-Frisch Jon Millard EXECUTIVE ASSISTANT COMPLIANCE BROKER

MARKETING COORDINATOR

Brian Rea

ADMINISTRATIVE ASSISTANT

“Asher was super helpful during our entire home buying process. From the beginning she helped us narrow down exactly what we were looking for in a house and went to countless showings with us.

She responds to emails very quickly and answered every question we had. When we finally found our dream home she made the buying process seem simple. She negotiated with the sellers back and forth and got us the price we wanted. We would highly recommend working with Asher and we will definitely be working with her in the future if needed.”

“We loved working with Asher! She always maintained clear, quick communication, took time to get to know us and understand our wants and needs in the home buying process, and advocated for us on multiple occasions. Asher made it genuinely enjoyable to attend showings and open houses - whether we ended up liking the home or not. It was clear she had our best interest in mind, streamlining the process and making the more complex ins and outs as digestible as possible, which was important for us as first time home buyers. We learned so much by working with Asher and strongly recommend her insightful, personable service!”

“Asher at Lauer Realty Group did a tremendous job leading us through the homebuying process as first-time buyers. Patient, knowledgeable and mindful of our goals for our home. We will be recommending her to all of our friends and family looking in the greater Madison area!”

“We feel like we found just the right person to patiently talk us through buying a house for the first time. No question was too small and Asher was prompt and helpful. We did the craziness of navigating this whole home buying process from out-of-state and Asher was so generous with helping to make all the logistics work: virtual tours, electronic documents, coordinating with inspectors and contractors from first showing to closing.

We appreciated the expertise and nononsense advice Asher offered throughout this whole process and felt like we were super well cared for and had a great advocate and wise friend on our side. We recommend Asherwholeheartedly!”

“Asher scores a 10/10. I would recommend her in a heartbeat. She is reliable, honest, and exceptionally knowledgeable about houses and the market. We found a property in a tough market! She even guided me through an early morning “buyer-zilla” moment. I looked forward to seeing her every time we met to see a place and I could count on her advice to help me through the process. I wouldn’t even dream about calling someone else if I had to sell my place or look for another property.”

“Asher Masino took the time to get to know us, our wishes and as a result, found us the perfect first home. They were reliable, professional and patient. Asher helped us navigate the market with excellent tips and advice. Highly recommend working with this realty group for home-buying in Madison”

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

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.

608.509.8563 ASHER@LAUERREALTYGROUP.COM 2229 ATWOOD AVE MADISON, WI 53704 LAUERREALTYGROUP.COM