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 two decades.
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
N I N E S T E P S
B U Y I N G A H O M E
1FINDTHERIGHTAGENT
Whyhireus?
2
PREPARE FINANCES
Pre-approval and types of loans
3
GET PRE- APPROVED
Income qualifications and needed documents
4
START HOME SHOPPING
Start your home buying journey
5
MAKE AN OFFER
Making your offer stand out
6ORDER AN INSPECTION
Ordering, reviewing, and making decisions
7
APPRAISAL ORDERED
Approval and final loan terms
8
SCHEDULE THE MOVE
Your moving timeline
9
CLOSING DAY
Final Steps And Recommended Resources
HOME WISHLIST & MUST HAVES
Buying a home is one of the most signif purchases in a lifetime It is essential to h experienced agent in your corner, alway out for your best interest. A buyer agent responsibility is to represent the buyer a that they are protected
After all, a seller has someone in their co listing agent has an allegiance to the sel goal is to get the seller top dollar for the There is incredible value in having some for YOUR best interests when buying a h
GETTING YOU IN THE DOOR
Wewillnarrowdownthehomesthatfityouruniquewantsandneedsandgetyouinthedoor!Ilookatdozensofhomes everyweek,andIcanhelpyouidentifypotentialproblemswithinahome
HANDLING CHALLENGING CONVERSATIONS
Whenrepairsorchangesinpriceneedtobemade,Iwillbeyourguideandhandlerequestinganyrepairsorchangesin pricetothesellers.
STAYING ON TOP OF THE PAPERWORK
Buyingahomeinvolvesmanytypesofdocumentation Ihaveexperienceandknowledgenavigatingrealestate contracts,ensuringthatnothingisoverlooked,andthatyoutrulyunderstandwhatapapermeansbeforeeversigning onthedottedline
ON YOUR SIDE
Abuyer’sagentwillrepresentyourbestinterests Withapulseonthelocalmarketandasoundunderstandingofhow variousamenitieseffectthevalueofahome,wewillmakesurewesubmitacompetitiveofferontherighthouseforyou
NEIGHBORHOOD EXPERT
Iworkdailyinneighborhoodswithinspectors,contractors,andnegotiatingwithsellers Ihavethemarketknowledgeyou needtogetyouthehomeofyourdreamsatthebestprice!Understandingthelocalrealestatemarketisessentialwhenit comestimetomakeanofferonahouse
PROBLEM SOLVER
Iwillworkhardtoprotectallofyourinterestsandtakeonanyissuesthatmayarisethroughouttheentireprocess Iwork tirelesslytomakesurebuyingahomeisafunandstress-freeaspossible
AFFORDABILITY
AFFORDABILITY
BUYER AGENT BENEFITS
SERVICES & DUTIES PROVIDED
Arrange Property Showings
Assists with Financing
Provides Accurate Information
Explains Forms and Agreements
Monitors Escrow and Closing
Provides Information about Listed and Unlisted Properties
Gives Advice in Your Best Interest
Completes a Thorough Analysis of the Property You’re Interested In
Promotes and Protects Your Best Interest
Negotiates the Best Price and Terms For You
Points Out Reasons Not to Buy Specific Properties
Writes the Offer With Your Best Interest In Mind
PREPARING FOR A HOME LOAN
HOWMUCHHOUSECANYOUAFFORD?
Mortgagelendersrecommendyoudonotbuyahomethatismorethan3to5timesyourannual householdincome Ifyouarenotpurchasingahomewithcash,youwillneedamortgagepreapprovalprovidedbyyourmortgagelender Alenderwillworkwithyoutogetaloanthatmeetsyour needs Somebuyersareconcernedwithkeepingtheirmonthlypaymentsaslowaspossible,others wanttomakesurethattheirmonthlypaymentsneverincrease
CHECKYOURCREDIT
Amortgagerequiresagoodcreditscore Youcanimproveyourscoreby: Payingdowncreditcardbalances
Continuingtomakepaymentsontime
Avoidapplyingforanewcreditcardorcarloanuntilafterclosing
Avoidmakingbigpurchasesuntilafterclosing Ifpossible,avoidjobchangesuntilafterclosing
SAVECASHFORADOWNPAYMENT&OTHEREXPENSES
Inordertomakeyourdreamofbuyingahomeareality,youwillneedtosavecashforyour downpayment,earnestmoney,closingcosts&homeinspector
ADownPaymentistypicallybetween35%to20%ofthepurchaseprice EarnestMoneyismoneyyouputdowntoshowyou’reseriousaboutpurchasingahome It’salsoknownasagoodfaithdeposit
ClosingCostsforthebuyerrunbetween2%to3%oftheloanamount
AHomeInspectioncosts$400to$700
Being pre-approved, which is very different from 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.
INCOME QUALIFICATIONS
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)
NON-QUALIFYING INCOME
Income from the lottery
Gambling proceeds
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 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 MORTGAGE LOANS
ANYONE WHO MEETS THE MINIMUM CREDIT AND INCOME LEVELS
SOMEONE WHO IS BUYING A HOME IN A USDA -DESIGNATED RURAL AREA.
ANYONE WHO MEETS THE MINIMUM CREDIT AND INCOME LEVELS.
VETERANS PERSONNEL WITH HONORABLE DISCHARGE RESERVISTS & NATIONAL GUARD SURVIVING SPOUSES
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
START 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 its current condition.
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?
MLS SEARCH AREAS IN MADISON
SAMPLE PROPERTY INFO SHEET
WHENTO
So you have fo market when of homes avai
HOWMUC
We will sit dow buyer activity property in it’s information to you would like
SUBMITTIN
There are som more appealin
•PutYourB
We will work t create your ve circumstance make a good
•PutDownanEarnestDeposit
A healthy earnest money deposit written into the offer shows the seller you are serious
•CashTalks
A transaction that is not dependent on receiving loan approval is often more attractive to a seller
•ShorterInspectionPeriods
Try shortening the inspection period to 10 days or limiting the objections in your offer
•Contingencies
If the market is very competitive we may discuss the needed contingencies vs what to expect if you choose to exclude any
•OffertoCloseQuickly
Many sellers prefer to close within 30 days
THE PROCESS
AFTERYOUSUBMITANOFFER
THESELLERCOULD
•ACCEPTTHEOFFER
•DECLINETHEOFFER
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
OFFERISACCEPTED-CONGRATS!
You will sign the purchase agreement and you are now officially under contract! This period of time before closing is called the contingency period. Now inspections, appraisals, or anything else built into your purchase agreement will take place
During the inspection p an inspection with a rep do a thorough investiga this is complete, the insp a list of their findings Yo as-is or request the selle the findings We are usu smaller items, while bein vigilant of potentially sig
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, me 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
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.
When approved you will receive your final commitment letter that includes the final loan terms & percentage rates
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
AFTER SIGNING
Finalize mortgage
Schedule a home inspection
Get quotes for home insurance
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 (Your lender will do this)
Complete title search (The title company will do this)
Schedule a closing time
2 WEEKS TO MOVE
Secure a home warranty
Schedule a time for closing
Contact utility companies (water, electric, cable)
Change address: mailing, subscriptions, etc
Minimize grocery shopping
Keep on packing
1 WEEK TO MOVE
Obtain certified checks of closing
Schedule and attend the final walk through
Finish packing
Clean
Pack essentials for a few nights in new home
Confirm delivery date with the moving company Make sure to give them directions to the new home, along with your cell phone number
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 after the accepted offer 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 closing 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 of 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 (Sometimes)
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 3% of the home’s sale 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 now own your new home! Time to throw a party and get to know your new neighbors!
SAMPLE CLOSING STATEMENT
FOCUS ON ENERGY®
LENDERS & INSPECTORS
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 purchases 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
These activities can void your loan pre-approval!
Should circumstances arise where you need to engage in these activities, consult your Lender first.
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.
RYAN SMITH
Guild Mortgage
Residential Lender Office: 608-234-5117
Mobile: 608-513-3942
Email: ryansmith@guildmortgage.net
SCOTT COCHEMS
Farmers & Merchants State Bank
Commercial Lender Office: 608-655-1473
Email: scochems@fmsbwm.com
ABBEY DENOBLE
Bell Bank Mortgage Residential Lender Office: 608-598-2283
Mobile: 608-234-0689
Email: adenoble@bell.bank
RICK MCKINLEY
UW Credit Union Residential Lender Office: 608-232-5000
Email: rmckinley@uwcu.org
HOME INSPECTIONS
When you are purchasing a property we recommend that you have a Professional Home Inspector conduct a thorough inspection. The inspection will include the following:
Appliances
Plumbing
Electrical
Air Conditioning and Heating 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 (ie 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 BECKSTROM
Madison Home Inspection Office: 608-395-9689
Email: madisonhomeinspectionllc@gmailcom
PAUL HUGHET
Capital Inspection Services Office: 608-515-8950
Email: capitalinspectionservices@gmailcom
MIKE HOESER
AmeriSpec
Office: 608-276-8060
Email: mikehoeser@amerispecnet
ABOUT US
I AM RENEE HEINE
I came to Lauer Realty Group with 14 years of experience of successfully working with both buyers and sellers, and investment properties in Madison and the surrounding Dane County area.
I am a born and bred Madisonian and I know Madison like the back of my hand! I have three adult kids, and a wonderful grandson named Noah who is my favorite person in the whole world! (Just don’t tell my kids that)
My partner Gary and I live in the Willy St/Atwood neighborhood and enjoy spending time enjoying the great restaurants, festivals, and Lake Monona that this great neighborhood offers for fun! We also enjoy traveling and exploring new places and making friends from all over the world!
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.
REVIEWS & MORE
“Renee was a pleasure to work with, as a first time home buyer. While she is certainly responsive and knowledgeable about the Madison real estate market, I especially appreciated how honest she is in her approach I never once felt pressured or rushed to buy, and she was often able to give good advice that ultimately made my first purchasing experience a breeze She was prompt with completing paperwork, and was overall an enjoyable person to collaborate with Her work and attitude set the bar high for any future real estate adventures I may have - highly recommend!”
“As first time home buyers, finding the right agent was really important! We were referred to Renee through a friend and are so grateful for that connection Renee was extremely responsive when it came to explaining next steps, scheduling showings, answering our questions, and coordinating offers We were a bit overwhelmed by the idea of house hunting but Renee made it easy and fun! We really appreciated her advice and guidance throughout the entire process. She helped us find the perfect home, even in a very competitive market. Thanks Renee.”
“Renee was a pleasure to work with and made everything so easy for a first time buyer like myself She was responsive and patiently answered all the questions that I had throughout the entire process I look forward to working with her again in the near future ”
"Renee was a pleasure to work with and made everything so easy for a first time buyer like myself. She was responsive and patiently answered all the questions that I had throughout the entire process I look forward to working with her again in the near future "
“I loved working with Renee! There was zero pressure to settle for anything that I was not completely happy with. The weekend before I found my home, we looked at two places that were in my price range but very disappointing. She encouraged me not to give up, and the next day (Monday), the perfect place was listed With Renee’s confidence and expertise, we moved quickly and I got the home of my dreams I wouldn’t dream of working with anyone else and highly recommend Renee!”
"Renee was amazing to work with! As firsttime home buyers, we came in with very little knowledge of the home buying process or the Madison area market Renee was available around the clock to answer our questions and was never afraid to tell us when “ we could do better” on a home that wasn’t perfect for us She took the time to get to know us and our situation (baby on the way and working from home) and helped us narrow down our options based on our needs When it came time to write up a bid, Renee used her experience of the Madison market to guide us in crafting competitive offers that stood out to sellers resulting in the purchase of our new home. My wife and I couldn’t be happier with our new home and the experience we had working with Renee We strongly recommend Renee to anyone looking to buy, but especially to first-time home buyers "
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 property 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, ie 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 (ie 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 ( ie 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 deficiency 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
