Al Twainy, CCIM
Office Phone:
(702) 255-5555
Cell Phone:
(702) 400-2001
Office Fax:
(702) 367-9587
Twainy Associates
101 Convention Center Drive, Suite 1002
Las Vegas, Nevada 89109
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Residential Services
Residential Buyers
Congratulations!
Buying your own home is
one of the smartest
financial decisions you
will ever make. For most
Americans, the equity
that they build in their
home is their biggest
source of wealth.
I realize that buying a
home can be a stressful
undertaking. Whether
this is your first home
purchase or your
twentieth, you want
things to go as smoothly
as possible with no last
minute surprises.
As your real estate
agent, we will represent
your best interests
throughout the entire
process.
Please realize that one
of the biggest fears a
home seller has is that
they will enter a
contract with a buyer,
prepare to move, and
then find out that the
buyer didn't qualify.
The home buying process
is quite complicated,
and nothing will throw a
wrench into things
faster than a mortgage
company that drops the
ball. You can use any
lender you wish, but we
strongly recommend that
you use one of my
preferred lenders. They
can meet or beat the
interest rate and
pricing of any other
lender, plus you will
never be at the mercy of
some outside company -
waiting around
helplessly trying to
find out the status of
your loan from some
mysterious unknown
person.
You may have already met
with the loan officer.
If not, here is a list
of items you should
bring to your loan
application.
1) W-2 (2 years) &
current pay stubs
2) Past 2 years pay
history for
landlord/mortgage
company
3) Employment
information (2 year
history)
4) All bank account
numbers and balances
5) Last 3 month's bank
statements
6) Open loans-names,
addresses, account #,
balances, monthly
payments
7) All information on
any other real estate
loans
8) Drivers' license or
other photo ID
9) Check for credit
report
10) Certificate of
eligibility or DD214 (VA
loan only)
11) Self employed: Last
2 year's complete tax
returns, year to date
Profit & Loss Balance
Sheet
The next step is for you
to come into the office
for your initial
consultation. We will
sit down and evaluate
your situation, and
determine if it is in
your best interests to
proceed with buying a
home at this time.
We are employed by you
to represent your best
interests.
The next step is to
determine the features
and benefits that you
are looking for in a
home. We will review
items such as:
PRICE RANGE
STYLE
1 OR 2 STORY
NUMBER OF
BATHROOMS
AGE OF HOME
POOL/SPA
GARAGE |
|
AREA
SIZE
NUMBER OF
BEDROOMS
FAMILY BONUS
ROOM
LOT SIZE
FIREPLACE
SPECIAL
REQUIREMENTS,
ETC. |
Many agents will just
throw you into their car
and drag you through a
bunch of houses - many
of which you won't be
interested in. We
respect the value of
your time, and only want
you to view the homes
that YOU want to see!
A day or so prior to
closing we will conduct
a "walk-through"
inspection to make
certain that all items
specified to stay with
the house are still
there, and to verify
that all
heating/cooling,
plumbing, electrical,
mechanical, and other
systems are in proper
working order.
There are many different
forms and papers
involved in the home
buying process, and we
know that can be a
little scary to some
people.
The average time from
getting the contract
accepted to closing is
about 30 days, although
shorter or longer
closings can be
negotiated. Every
transaction is unique,
so we will monitor all
of the details very
closely, keeping you
informed every step of
the way.
Don't hesitate to call
us any time you have a
question or concern.
We look forward to
working with you, and
seeing you settled into
your new home!
If you are looking for
answers to your real
estate questions contact
Al Twainy.
Residential Sellers
Pricing
Guidelines
The value of your
property is determined
by what a ready willing
and able buyer will pay
for it in the open
market, which will be
based upon the value of
other recent closed
sales. BUYERS
DETERMINE VALUE!!
Expect the agent to
suggest a price range,
but don't let that frame
you in. Be aware that
some devious agents
will, at first, suggest
a handsome price. Then,
after they have the
listing and the property
hasn't sold, they'll
come back with a pitch
to lower the price.
Benefits of
Proper Pricing
Setting the proper
asking price for your
property is the single
biggest factor that will
determine the success or
failure of your property
sale.
The consequences of
making the wrong
decisions are painful.
If you price your
property too low, you
will literally give away
thousands of dollars
that could have been in
your pocket.
Price it too high and
your property will sit
unsold for months,
developing the
reputation of a problem
property (everyone will
think that there is
something wrong with
it).
Failure to understand
market conditions and
properly price your
property can cost you
thousands of dollars and
cause your property not
to sell...fouling up all
of your plans.
You can't afford any
"guesswork" in this
critical step!
Disadvantages of
Overpricing
Faster Sale:
The proper price gets a
faster sale, which means
you save on mortgage
payments, insurance and
other carrying costs.
Less
Inconvenience:
As you may know, it
takes a lot of time and
energy to prepare your
property for showings,
and keep the property
well maintained. Proper
pricing shortens market
time.
Increased Agents
Response: When
cooperating sales agents
are excited about a
property and its price,
they make special
efforts to contact all
of their potential
buyers and show the
property whenever
possible.
Exposure to More
Prospects:
Pricing at market value
will open your property
up to more people who
can afford it.
Better Response
from Advertising:
Buyer inquiry calls are
more readily converted
into showing
appointments when the
price is not a
deterrent.
Higher Offers:
When a property is
priced right, buyers are
much less likely to make
a low offer, for fear of
losing out on a great
value.
More Money To
Sellers: When a
property is priced
right, the excitement of
the market produces a
higher sales price in
less time. You NET more
due the higher sales
price and lower carrying
costs.
Reduces
Activity:
Agents won't show the
property if they feel it
is priced too high.
Lower
Advertising Response:
Buyer Excitement will be
with other properties
that offer better value.
Loss of
Interested Buyers:
The property will seem
inferior in amenities to
other properties in the
same price range that
are correctly priced.
Attracts the
Wrong Prospects:
Serious buyers will feel
that they should be
getting more for their
money.
Helps the
Competition:
The high price makes the
others look like a good
deal.
Eliminates
Offers: Since a
fair priced offer will
be lower than asking
price and may insult the
seller, many buyers will
just move on to another
property.
Causes Appraisal
Problems:
Appraisers must base
their value on what
comparable properties
have sold for.
Lower Net
Proceeds: Most
of the time an
overpriced property will
eventually end up
selling for less than if
it had been properly
priced to begin with,
not to mention the extra
carrying costs.
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