Buying Your Florida Home

The Service You Expect

Nicki Conway & Associates will provide you with the service you expect and the respect you deserve. That’s the way we do business. You’re entering a life-changing experience, and you expect good service. You also expect to be treated with dignity and respect. Together, we can make something special happen! Feel good knowing that we’ll be with you every step of the way and that all of your real estate needs will be handled for you. We’ll make your life easier!

Your RealtorWhy use a Realtor?

Real estate is complex No two properties are exactly alike No two transactions are exactly alike

A good Realtor knows the communityKnows the current market conditionsCan recommend local lenders and other

affiliated suppliersCan handle the negotiations according to the

current market conditions.

Realtor DesignationsWhat do they mean? The Certified Residential Specialist® (CRS) is the highest Designation awarded to

sales associates in the residential sales field. The CRS Designation recognizes professional accomplishments in both experience and education.

Certified Luxury Home Marketing Specialist Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require.

Members of The Institute who hold the CLHMS designation have documented performance in the TOP 10% of their markets, and have successfully demonstrated their expertise in the luxury home and estate market.

Certified Luxury Home Marketing Specialists (CLHMS) whose documented performance includes at least two single family property closings at $1,000,000 and above will be recognized as members of the prestigious Million Dollar Guild.

By earning the SRES® Designation (Seniors Real Estate Specialist), your REALTOR® has demonstrated the necessary knowledge and expertise to counsel clients age 50+ through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your SRES® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.

E-PRO Certification is a National Association of Realtors Technology Training Program. Certified Distress Property Expert. A Certified Distressed Property Expert® is a real

estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

Nicki Conway has all of these Designations

Agency In Florida, we are all “Transaction Brokers”That means,

We will deal honestly & fairly Account for all Funds Use skill, care and diligence in the transaction Disclose all known facts that materially affect the value of

residential real property. Limited confidentiality, unless waived in writing Any additional duties that are entered into by agreement

Allows a licensee to facilitate a real estate transaction by assisting both the buyer and seller I cannot work to represent one party to the detriment of the

other when acting as transaction broker to both parties

Your Home SearchI’ll uncover your needs first by asking you

many questionsAbout YouAbout your jobAbout your familyAbout your financesAbout your past Real Estate experiencesAbout your needs and prioritiesAbout your concerns

Short SalesWhat is a Short Sale?

A short sale occurs when the seller owes more on their mortgages than the current market value of their property. Once the seller receives an acceptable offer from a ready, willing and able buyer, negotiations and concessions must be made so that the lender will accept a sale at current market value as payment in full for the loan. Sometimes the homeowner in this situation may have the mortgage debt forgiven.

Short Sales What you need to know

The seller is usually in default of the mortgage and is unable to make the payments

The seller may have received a pre-foreclosure notice or may be in foreclosure

There may not be enough time to complete the short sale before the foreclosure date

The buyer may cancel the sale prior to acceptance of terms by the lender

The lender may accept back up offers that exceed accepted offers There may be multiple lenders in which case they have to

negotiate between them as to the dollar amounts each will receive Lender may accept buyer’s offer, but may also counter it Lender’s counter could be more than the listing price Seller may walk from accepted offer if the lender does NOT

indemnify him from debt The process could take several months and with no

satisfactory end result

Loan PreapprovalUnless you’re paying cash, you will need to get

pre-approved by a local lenderThat means you have met with a loan officer,

your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount. The lender will provide a pre-approval letter, which shows your borrowing power.Demonstrates your purchasing powerPrevents wasted time by only searching homes you know

you can afford.Puts your mind at ease and makes negotiations betterRequired now by Banks for Short Sales and Foreclosures

For Your ConvenienceNicki Conway & Associates has partnered with

the following services providers. These are all companies with proven track records for service and success:Real estate attorneys for title and closingsEstate attorneysLendersBuilders, Contractors, ArchitectsInspection CompaniesInsurance CompaniesHome Services (pool cleaning, lawn, maids, etc)Movers

Your Home Tour

Based on what I’ve learned from you, I may have already selected a number of homes to view.

If you’ve selected homes in your own search, we’ll incorporate those into the process

I’ll set up the showing schedule based on geographic areas for convenience and time

FSBOFor Sale By Owners

Many FSBO’s will compensate a Realtor for bringing them a buyer.

In most cases, your Realtor must contact the FSBO first

If you walk into a FSBO Open House, please tell the owner immediately that you’re represented by a Realtor. If you’re interested, tell him that you’ll have your Realtor contact him.

Give him my card.

Open HousesGoing through open houses is a good way to

get a feel for neighborhoods and the homes within them

When you enter an open house, tell the listing agent immediately that you’re represented by a Realtor. Give her my card.

Feel free to give the listing agent feedback about the house, but…

If you like the house and want to buy it, do not tell the listing agent. Contact me and I’ll set up a formal viewing, write up the offer, research and negotiate the best possible price for you.

New ConstructionSales representatives in model homes are

there to sell you a home. They represent the BUILDER.

BUILDERS are happy to pay REALTORS a commission for bringing them a qualified buyer.

You do not pay more for the house if your REALTOR gets a commission. In fact, you will probably pay less. If your REALTOR is NOT involved, the BUILDER will simply put that extra money in his pocket and YOU will not be represented.

Model HomesBuilders require that your REALTOR make

the first introduction and get you registered.If you want to look at model homes, please

be sure to let me know first. I’ll take you there, get you registered and you can look at model homes as much as you like.

At Lakewood Ranch, it’s merely one visit to the information center with me and you can be off on your own for days, looking at model homes.

Custom HomesIf you own a lot or want to purchase a lot to

build your dream home, I can help youFind your lotFind the perfect architect and builder, based

on your specific needs and wantsGuide you through the process

Note: I have built 7 houses in the Sarasota area, so I know the process!

You Found Your HomeI will negotiate the best deal for you based on

my research of the property, the neighborhood and knowledge of current market conditions.

I’ll take you through the closing process and handle all the details, so you can relax and revel in the fact that you will have a new home in Sarasota!

Closing…What You Need To DoVery little!

Decide on a Lender and apply for your loan

INFORMATION NEEDED AT APPLICATION Complete copy of the signed Purchase Agreement. W-2’s for the past two years (or complete tax returns if self employed) Most recent pay stubs covering last 30 days. 12 months’ mortgage payment receipts or canceled checks. Last 2 months’ bank statements of all checking, savings and asset accounts Names, addresses, and account numbers of all creditors. Certificate of Eligibility (VA only).

Get Your Home Inspected by a Qualified Inspector As your Realtor, I’ll provide you with a list of Qualified Property Inspectors. It’s up to you

to choose one.

Closing…What You Need To DoCall Utilities and have them transferred on Closing

DayGet Homeowners Insurance lined up (paid up policy)Remove all contingencies…inspections, finance,

depositsShow up at walk-throughShow up at closing with driver’s license and

cashier’s check for amount provided on HUD statement

Sign paperworkTake your keys and move in!

Understanding Title Insurance When you buy a home, you’ll have to purchase title insurance;

Lenders require it. But what is title insurance? To ensure that the party you are buying your home from has full

and legal title, a title company or attorney will research the history of ownership at the local property records office. But while the records may be official, they’re not necessarily correct. In addition, a “cloud” on the title could affect its transfer. Examples of clouds include tax liens, easement problems and mechanics lien, made by a contractor or repairman for unpaid bills.

Here’s where the title insurance comes in. One form of title insurance is lender’s coverage, designed to protect not you, but your lender in case of title problems. As a Buyer, you are required to purchase this form of title insurance, which provides protection up to the original mortgage amount.

You can also purchase owner’s title insurance coverage, which protects your equity. Inflation riders are often available to ensure that as the value of your home goes up, the title insurance will follow.

After the MoveI suggest you…

Set up a file with all the paperwork from the closing of your new home.

Make a photo or video record of the home and your possessions for insurance purposes. Keep in a safe deposit box.

Invite your Realtor over for a glass of wine!Enjoy your new home for many years.

Your LoyaltyI extend much effort, time, expertise,

energy, loyalty and education to be singularly informed on behalf of you, my buyer.

I’m only asking you for one thing in return…your loyalty to me as your Realtor of choice.

Together, we’ll make your dream of home ownership come true!

Thank YouFor taking some time with me to discuss

your home buying needs. I look forward to helping you achieve your goals.

Nicki Conway, Realtor

Be sure to visit our website to help find your new home!

www.SearchforSarasotaProperties.comwww.SarasotaRealEstateTalk.com

Copyright 2010 Nicki Conway