Additional Information

• Getting a Loan: Information you will need to provide

   

  Items you should bring when you meet with a lender:
  • Photo identification & Social Security Card
  • List of home addresses for the past 4 years
  • Employer information for the past 2-3 years (Phone #’s & addresses)
  • Income information... (Monthly salary/wage & any additional income)
  • Most current paycheck receipt
  • W-2’s (Past 2-3 years)
  • Loan information:
  - On ALL other real estate that you own
  (Addresses / lender info / balances & payment amounts)
  - On ALL other OPEN LOANS
  (Lender info / account #’s / balances & payment amounts)
  • Credit card info (Names / account #’s / balances & payment amounts)
  • Credit & savings account info (Institution names / account #’s addresses & balances) Include: Last 3 months bank statements
  • All personal property (Estimate of value)
  • Divorce information (Full divorce decree)
  • Veteran’s Administration (Certificate of Eligibility & DD214's is applicable)
  •  Money (Required amount for your Credit Report and Appraisal)
• Title Insurance: What is it and why you need it

   

   

  WHY TITLE INSURANCE?

  In every real estate transfer the matter of a title examination invariable arises, and home purchaser often questions whether title insurance is really necessary when an examination of the title has been completed by an accomplished title examiner or real estate attorney, especially with the examination of available title records shows no adverse information which might lend question as the marketability of the title. But - does an examination of title records necessarily remove all doubt of title problems eventually surfacing? The answer is NO... That is why title insurance exists and plays such a basic role in protecting the real estate interests and equity of all policy holders.

   

  TWO KINDS OF POLICIES

  It is important for the buyer to know that there are two kinds of title insurance.

  Mortgagee’s title insurance protects the interest of the mortgage lender. Lenders, knowing the many things that can snarl title to real property usually - and rightly - insist upon the mortgagee’s title insurance to protect their stockholders and/or investors.

  Owner’s title insurance protects the equity of the buyer. Both kinds of title insurance are available in most areas in a single, low cost “package” that protects both lender and buyer for as long as they or their heirs have any interest in the property.

  Also, the title insurer, without expense to you, will defend you against any attack on the title to your property as insured. The one-time premium is small. The protection is great.

   

  WHAT ARE THE RISKS?

  There are many title troubles that can arise to cause the loss of your property or your mortgage investment. Title troubles not disclosed by a most careful search of the public records - called hidden risks - are the most dangerous, Because of them, your title may be worthless. Your attorney’s examination may be the finest that skill, experience and legal knowledge can produce, but your title may be fatally defective. 

                                                                                                                                                                                                                                        

  WHY SHOULD I HAVE AN OWNER’S POLICY?

  “Why should I have an OWNER’S Title Policy since my title is sure to be good if the lender makes the loan and Title Company insures the Mortgage?”

  A Mortgagee’s Policy protects the interest of the Lender only and does not protect you as an owner. Assure your protection with an OWNER’S Title Insurance Policy. Neither the lender nor the Title Company can be sure the title is good because of the obvious “hidden defects.” However, for the small, one-time premium for an OWNER’S Policy, you as owner, can be SURE that you will be protected in the ownership of your property.

   

  REAL ESTATE IS BIG BUSINESS

  The transfer of real estate in the United States is the nation’s largest single business, according to the National Association of REALTORS®. Your involvement in this industry - the cost of the house you own or plan to buy - is a small part of this total, but it probably will be the largest single investment you will ever make. You want the investment to be as sound and secure as possible.

   

  THE MAN WHO LED A DOUBLE LIFE

  Who knows what secrets the most “ respectable” people may carry with them? Often to the grave? It’s important to the home buyer - because the martial status of former owners, if irregular or falsely represented, may result in staggering and often valid claims against the new owners of real property. Consider the case of the Pennsylvania man who led a double life. Prominent, well-to-do, a pillar of the community, he was active in the real estate market... Buying and selling many properties. Later he died. At his death, it was revealed that his “marriage” to a supposed “wife” of many years was bigamous... that all along, he had had another living wife from whom he had “never bothered” to get a divorce. The legal wife had a valid claim against all buyers of the property that the deceased man had ever owned, for the law, in Arizona, gives a spouse rights to real estate acquired during the course of marriage. The supposed wife could not dispose of the legal wife’s law-given rights in the properties. Several title insurance companies contributed to pay off these valid claims in defense of many buyers because of the man who led a double life.

   

  DON’T MAKE THE SAME MISTAKE!

  Agnes and Arnold bought a home for $100,000, making a $25,000 down payment. Their lender held a $75,000 mortgage lien, and required them to furnish title insurance to protect this interest. The couple’s own $25,000 investment was not covered. A month later, a relative of a previous owner made a claim to the home... and the claim proved valid. The title insurer reimbursed the lender for its loss and the mortgage note was then turned over to the title company. Arnold and Agnes were out their $25,000 down payment, their equity in the property, their home - and they still owed the remaining balance of the loan. 

  This is only one example of why owners need title insurance just as much as lenders do!!

   

   

   
• Utilities: Important phone numbers you will need

  Important Phone Numbers

   
  Don’t forget to sign up for utilities, phone and cable-TV. Often times, you can call prior to close of escrow to schedule this, but be sure to get clarification regarding this from your real estate agent.
   
  Here is a list of some important phone numbers you may wish to keep with you in this handy book for future reference.
   
  NV ENERGY (Electric) . . . . . . . . . . . . . . . . . (702) 402-5555
   
  Southwest Gas . . . . . . . . . . . . . . . . . .(877) 860-6020 
   
  Sprint . . . . . . . . . . . . . . .(866) 866-7509
   
   
  
  Emergency . . . . . . . . . . . . . . . . . . . . . .911
• For Sale by Owner: Consider this first

  For Sale by Owner: Consider this first

   
  The great incentive in selling your own home is the perceived idea to save the real estate commission. However, most buyers have this preconceived notion as well which is directly reflected by the offering price. A thought to consider whether the actual savings will be sufficient to the offset of the hurdles you may encounter.
   
  • Do you have access to the information to determine the fair market value of your home?
  • Are you prepared to be at home every weekend and evenings in order to show your home?
  • Are you comfortable with showing your home to strangers at whatever hour may be necessary?
  • Do you understand the Fair Housing law?
  • Have you considered advertising costs?
  • Do you understand the closing cost well enough to help your buyer anticipate the funds needed to close?
   
  These are just a few of the things you will need to become completely aware of before you are able to sell your own home. Simply put the stress and time required to sell your home need to be given serious consideration. Most people do not succeed at this endeavor. If you were involved in a $100,000 lawsuit would you want to represent yourself at the hearing? Don’t gamble with the equity in your home.
   As real estate agent I have extensive knowledge about the business of selling your home. Here are some of the advantages I offer when I represent you:
  • Help you establish a fair asking price for your home.
  • Promote your home to other agents and list your property in multiple listing services. A multiple listing service is a computer database that all real estate agents have access. Your home will get exposure to thousands of agents, one of whom may have the perfect buyer.
  • Create professional quality, color flyers to give prospective buyers the allure of your home.
  • Schedule appointments to show your home to prospective buyers even when you are not there.
  • Weed out buyers who will not qualify for a mortgage.
  • Refer you to sources for insurance, inspections, legal counsel and financing.
  • Negotiate with the buyer to help you achieve the best price for your home.
  • Professional advice on staging your home to make it most attractive to potential buyers.
  • Your home will be advertised on several inter-net sites in order to achieve maximum exposure.
  Hold open houses, this is a great way to show of the beauty and features inside your home, this gives the buyers a chance to visualize themselves living there.
  Listing your home with the Gonzales Team allows you the opportunity to have your home advertised as a “Certified Pre Owned Home.” This means for you as the seller:
  • Repairs made prior to offer—saves you money and protects the listing price.
  • Eliminates repair negotiations
  • Certified Pre-Owned Homes sell ~25% faster and for 3% more.