Seller Orientation Guide

Buyer Orientation Guide

Preparation Search Transaction

www.RandRealty.com 1. Better Homes and Gardens Real Estate | RAND REALTY Buyer Orientation Guide | Intro | Welcome Welcome The Rand Family

Matthew Rand Joseph W. Rand Marsha Rand Managing Partner Managing Partner & General Counsel CEO

Welcome to Better Homes and Gardens Rand Realty

hank you for giving us the opportunity to work with you on This Introduction to the Orientation the purchase of your home. We look forward to providing Guide provides you with you the services that have made Better Homes and Gardens information about Better Homes T and Gardens Rand Realty and your Rand Realty one of the largest real estate companies in the country and the leading brokerage in the region. real estate agent, and gives you a a general overview of the purchasing This Buyer Orientation Guide is our starting point for the delivery process. Next, Stage One covers of services to you throughout the process. You will be receiving your initial agent consultation, these guides throughout every stage of the purchasing process, and provides you with information from your initial consultation to your final closing. We’ve designed you need to start looking for your new home. We generally send the these Orientation Guides to help deliver a great service experience Orientation Guides as you enter to you, by helping you stay informed, engaged, and proactive each stage of the transaction, throughout the transaction. but if you would like them all in advance, just ask your agent. The Orientation Guides will have three purposes: We hope you get the chance to • First, to fully inform you about what you can expect about each read through the Orientation Guide stage of the transaction. before your appointment with your • Second, to let you know what your agent and Better Homes and agent. If you do not, don’t worry, your agent will cover everything in Gardens Rand Realty are doing to help you find the right home. your meeting.

• Third, to also let you know what you can do at each stage so Again, we thank you for the that you are fully prepared for what is happening and what lies opportunity, and look forward to ahead. working with you. Buyer Orientation Guide | intro | Introduction

About Better Homes & Gardens Rand Realty

When you buy your home, you don’t have to choose between the resources of a big company and the local expertise of a small neighborhood broker. Better Homes and Gardens Rand Realty gives you the best of both worlds: a world-class real estate company that is one of the largest in the country and recognized as industry innovator, and a family-owned local business run by people who grew up here, live here, and are deeply committed to the communities we serve.

“Big Company” Advantages “Small Company” Advantages

When you buy your home with Better Homes and Gardens Rand When you buy with Better Homes and Gardens Rand Realty, you Realty, you harness the power of one of the country’s largest and also get all the benefits of working with a small, family-owned, local most respected real estate companies, recognized by Real Estate broker deeply committed to the neighborhoods and communities we Magazine and REALTOR® Magazine as one of the top 75 real estate serve. Each of our offices functions as a neighborhood “boutique” brokerages in the country. Long recognized for its commitment broker, with its own manager directing operations and a group of to operational excellence, technological innovation, and market local agents who live in, work in, and know our communities. savvy, Better Homes and Gardens Rand Realty provides you with a • Local Expertise: We know the nuances of our local markets comprehensive array of cutting-edge tools to help you find a home: better than anyone else: we know the schools, housing • Our proprietary Client-Oriented Real Estate (CORE) systems styles, history, local regulations, and everything else that that ensure operational excellence. can help smooth your transaction and find you the right home. That’s why we are the leading company in virtually • The innovative technology on RandRealty.com, providing every regional town and village where we operate. you with everything you need to search online on your computer or mobile device. • Buying Local: Just as you probably like to patronize locally- owned restaurants, shops, and other businesses, buying • Communication tools, including immediate email alerts with Better Homes and Gardens Rand Realty gives you the when homes hit the market or drop their price. opportunity to support a local, family-owned company. You • Full transactional integration with our partners at Hudson can be secure that our partners, employees, and agents United, to take care of your mortgage, title, and insurance are just as committed to local businesses as you are, rather needs. than patronizing a company owned by people out-of-state, who don’t reinvest in our area. • On-demand lien searches through our title partner Hudson United Abstract, to ensure you do not get into contract on a • Commitment to Communities: The Rand owners have property that will not close. long been supporters of local charities, foundations, and community organizations, taking leadership positions • The best “Market Intelligence” in the industry, giving you a in organizations such as Hospice, People to People, the competitive advantage over other buyers by keeping you regional Making Strides Against Breast Cancer, and the informed about what’s happening in the real estate market. regional American Red Cross. And the hundreds of Better Homes and Gardens Rand Realty agents and employees Finally, you get the sheer comfort of knowing that you are working support and contribute to myriad local causes throughout with the very best real estate professionals in the industry, dedicated the region. to ensuring a quality purchasing experience.

When you get the power of a big company and the intimacy of a small company, you get the best of both worlds: the influence of a large, nationally recognized organization combined with the intimacy and local expertise of your neighborhood broker. Buyer Orientation Guide | intro | CORE

Introducing Client-Oriented Real Estate (CORE)

Everyone promises good service. But what systems and tools do they have to ensure delivery on that promise? A great service experience requires more than just empty promises. You need a plan.

t Better Homes and Gardens Rand consistent, and high-quality client 3. Information Realty, we have a plan for ensuring experience. At every stage of the buying process, we A that you have an outstanding home provide you with advice and guidance buying experience. For more than five about everything you need to know about years, we have made a commitment to How We Developed searching for a home, obtaining financing, creating systems, tools, and procedures negotiating offers, addressing inspection to ensure that our agents deliver a the CORE System issues, understanding sales contracts, consistently high service level to all of all the way to explaining your closing. our clients. Our proprietary client care We developed CORE by studying the cus- Because information is power, we also solution is called “Client-Oriented Real tomer service philosophies of great com- provide you with the most comprehensive panies like Nordstroms, Four Seasons Estate” (CORE), which is a structured, analysis of real estate market information hotels, Starbucks, and Disney, to find comprehensive, and rigorous system available in the industry – what we call our common elements that we could incor- designed to ensure that you have a great “Market Intelligence” reports. porate into the real estate industry. service experience buying your home, • Buyer Orientation Guides for every built around three primary goals: We also integrated the lessons gleaned part of the buying process from books like Ken Blanchard’s Raving • Buying Real Estate – Form Packets Fans: A Revolutionary Approach to Cus- provide an explanation and bound 1. Execution tomer Service, William Capodagli’s The copy of the legally-required forms The foundation of the CORE system is Disney Way, Robert Spector’s The Nor- for your initial consultation. the “Buyer Project Plan,” which identifies dstrom Way to Customer Service Excel- Quarterly Market Reports that give lence, Danny Meyer’s Setting the Table, • and lists all the steps taken to find you you insight into the region, your and Atul Gawande’s The Checklist Mani- the right home. The Project Plan follows county, and your local market. industry best practices we’ve identified festo. after consulting with hundreds of real Plus, you’ll also be able to get up-to-date estate professionals. The plan helps information available on RandRealty.com, guarantee a great client experience by 2. Communication including our Market Intelligence Blog, ensuring that agents complete all the Great relationships require good Better Homes and Gardens Real Estate steps correctly with disciplined attention communication. You’ll see the CORE video content, and regular updates on to detail, and by reducing the possibility system difference at your initial changing market conditions. that any steps are missed. In the same consultation, which will not only provide way that pilots follow a “pre-flight plan” you with an overview of our company to make sure they don’t miss any steps services and marketing plan, but also Conclusion that might endanger their passengers, and identify your particular needs, concerns, At Better Homes and Gardens Rand surgeons follow a “safe surgery checklist” and goals. Our agents use our “Buyer Realty, we don’t just want to be the to reduce postoperative complications, Consultation Guide” when they have biggest real estate company. We want our project plans are designed to their initial meeting with buyer clients, to be the best real estate company. And effectively narrow down your price range which provides them with all the relevant we believe that the way to becoming and preferences, follow industry best information they need to ensure that they the leading company in the industry is practices during your home search, and achieve a comprehensive understanding to provide clients with the best possible to help you complete the transaction. of what you want and need in your buying service experience. That’s why we have Your agent will show you the initial Buyer experience. Similarly, we’ll keep the created the innovative CORE program, project plan during your consultation, but communication going throughout the and hope that you see the vast difference you will also receive the benefit of internal process, with email alerts from randrealty. in how we anticipate and satisfy all your project plans that we use throughout our com anytime a property hits the market or home buying needs. company to ensure attention to detail, goes through a price change. reduce errors, and provide an efficient, Buyer Orientation Guide | intro | Getting Engaged

Introducing Hudson United

Throughout your home buying experience, you’re going to be working not just with your agent but professionals who will service your lending, title, and insurance needs. You are always free to choose any service provider you wish, but we encourage you to meet with your representatives from Hudson United, part of the Rand family of home service companies.

eal estate transactions are complicated, with a lot of moving Rparts: real estate brokerage, mortgage lending, engineering inspection, legal representation, title insurance, and home insurance. Unfortunately, those parts don’t always work so well together. And when they don’t, what we often think of as the “American Dream” becomes more like a nightmare.

Indeed, as the owners of Better Homes and Gardens Rand Realty, it has long been frustrating to see clients who otherwise had a wonderful service experience working with their Rand agent ultimately came out of the process miserable and unhappy – not passionate commitment to Client- because of anything their agent did, but companies in the region, closing almost Oriented Real Estate (CORE) that we because the rest of their transaction was so 1,000 transactions every year without a have at Rand Realty, because we’ve mishandled. The clients might have been meaningful claim from its inception over 10 brought those same CORE principles thrilled by the work their agent did, but years ago. to all our affiliated companies. walked away from the deal with a sour taste • One Stop Shopping. You will have because of transactional delays associated Hudson Group Insurance. Our insurance a more efficient and fluid transac- with mortgage processing or title work. company can provide you not only with the tion from the “one-stop shopping” homeowner’s insurance that you’ll need at experience that comes from all the That’s one of the reasons we are delighted to your closing, but with any policies you need, professionals involved in your deal be affiliated with the Hudson United family including auto coverage. working together. of home service companies, which provide • Increased Accountability. You’ll mortgage lending, title insurance, and home We encourage you to work with the benefit from the increased account- insurance to many of our real estate clients. professionals at Hudson United. As the ability that your transactional profes- Perhaps we are “control freaks,” but we are owners of the company, we’ve applied the sionals will have not just to you, but passionate about providing our clients with same commitment to excellence to these to your real estate agent, whom they need to keep happy if they wish to an outstanding service experience, and companies that we used when building a continue to maintain that referral we have found that we cannot ensure that great real estate company. And just like relationship. experience without taking greater control with Rand Realty, you get a local, family run over those moving parts of the transaction. company, dedicated to the people and the communities in our area. As the founders and operators of Better Hudson United Mortgage. Our full-service Homes and Gardens Rand Realty, we stand mortgage brokerage has access to any Most importantly, by putting all the moving behind the outstanding service professionals financial product you might need, and our parts of the transaction (literally) under one at Hudson United, the same way we endorse mortgage officers are available to help guide roof, we’re able to provide you with a better the Rand Realty agents who form the you through the financing process right from real estate experience – the integrated and backbone of our network of home service the initial pre-qualification. seamless one-stop shopping experience that companies. And we hope you will have the had long eluded our real estate clients: opportunity to enjoy the one-stop shopping Hudson United Title. Our title insurance • CORE Service. When you work with experience available from their combined operation is one of the leading abstract Hudson United, you get the same talents. Buyer Orientation Guide | intro | Getting Engaged

Getting Engaged

The most successful home buyers are people who get proactively engaged in the purchasing process. Your agent is going to be hard at work finding you the right home, but there are some things he or she simply cannot do. So throughout this process, we’re going to urge you to stay involved in your transaction, which is the best way of ensuring that you have a great service experience. The first chance to be proactive in your purchase is your initial agent consultation.

s you work with Better Homes and Gardens Rand Realty, you’ll find The Three Stages of the Home Buying Process Athat we follow a rigorous set of project plans to ensure attention to detail. Stage What Happens in this Stage? The plans are the hallmark of our “Client- Oriented Real Estate” philosophy: a set of In Stage One, we’ll help you get checklists that set out every significant started the right way in your home task involving the purchase of your home buying experience. You’ll have your from your initial consultation to your initial consultation with your real closing. We have project plans and to-the- estate agent, which will familiarize last-detail instructions for everything from you with the sales process, intro- Stage One: identifying your preferences, qualifying for duce you to our service approach, Preparation a mortgage, using randrealty.com, working and determine your needs, goals, with other professionals, and negotiating and concerns in buying your new offers. Indeed, the fact that you’re reading this Orientation Guide is proof that your home. And you’ll also set up the rest agent is following our Buyer Project Plan. of your home buying team, and learn It’s that kind of attention to detail and about all the resources available to commitment to service that differentiates you on RandRealty.com. Better Homes and Gardens Rand Realty from other brokers in the area. In Stage Two, your agent will help you maneuver through the market But it’s not just about us, it’s about as you start your search for your you. There are simply some things that Stage Two: new home. You’ll learn strategies your agent cannot do for you, and that Search for finding the right home, get an you need to do for yourself. The most overview of the showing process, successful homebuyers are proactive and engaged in their purchase throughout the and some advice about making the process. Indeed, the main purpose of right offers. the Orientation Guide is to help you get engaged by advising and informing you In Stage Three, your agent will guide about what you need to do throughout the you through the contract-to-closing process. At each stage of the process, process: presenting and negotiat- we’ll not only update you about what your ing offers, setting up inspections, agent is doing, but also what you can do to Stage Three: understanding real estate contracts, ensure that you have a great home-buying Transaction and securing financing and insur- experience. From the Introduction through ance coverage. You’ll also get some every stage of the transaction, we’ll give you ideas about what you can do to help advice about what to expect from make things go more smoothly. your closing, and how to ensure a smooth moving process. Buyer Orientation Guide | intro | CORE Plan

CORE Buyer Checklist

Pre-Transaction Project Plan Transactional Project Plan Get a copy of the Buyer Orientation Guide to read at Get recommendations from your agent for your your convenience. transaction professionals.

Have your initial consultation with your buyer agent. Contact your attorney about reviewing the contract of sale. Review and complete your legal disclosures and agreements. Attend the home inspection.

Review with your agent “What Are You Looking for in Review the home inspection report with your agent a New Home” and attorney.

Get a prequalification letter from Hudson United Review issues in the contract with your attorney. Mortgage. Sign contracts of sale with your attorney. Start saving your bank statements and pay stubs for your mortgage application. Complete your mortgage application with your Hud- son United Mortgage rep. Register with randrealty.com Submit all your mortgage documentation. Set up saved searches on randrealty.com. Respond to all mortgage documentation requests Add “@randrealty.com” to your “safe senders” list. promptly.

Set up a folder on your email account for your rand- Order or have your attorney order a title report from realty.com email. Hudson United Title.

Save the randrealty.com web app to your smart- Discuss any title issues with your attorney. phone. Contact your Hudson Group Insurance rep to quote Set up a showing schedule with your agent. your home insurance.

Communicate regularly with your agent. Get estimate of closing costs from your attorney.

Review your randrealty.com email updates regularly. Get closing date from your attorney.

Use the “Showing Project Plan” when looking at Contact movers for estimates of the cost of your homes. move.

Get printouts of all show sheets. Hire a mover and schedule the move.

Set up file folders for your show sheets (low-tech) Schedule and attend the walkthrough with your agent. Set up a spreadsheet to track your showings (high tech) Discuss any walkthrough issues with your attorney.

Review all offers submitted by your agent. Attend the closing, bringing proof of identification and your checkbook. Order preliminary lien searches from Hudson United Title for any offers you make. Finalize all transaction documents at the closing. Stage One: Preparation

In Stage One, you’ll have your initial consultation with your real estate agent, who will familiarize you with the sales process, introduce you to our service approach, and determine your needs, goals, and concerns in buying your new home. In the Guide, you’ll learn about how to prepare for that meeting, how to assemble the rest of your home buying team, and how to get started using RandRealty.com.

www.RandRealty.com Buyer Orientation Guide | Preparation | Chapter 1.1

The Advantages of Working with a Buyer’s Agent

The most successful home buyers are people who get proactively engaged in the purchasing process. Your agent is going to be hard at work finding you the right home, but there are some things he or she simply cannot do. So throughout this process, we’re going to urge you to stay involved in your transaction, which is the best way of ensuring that you have a great service experience. The first chance to be proactive in your purchase is your initial agent consultation.

uying a home is easier than buying a car. The transaction is more complicated, because the stakes are so much B higher, but the process is actually easier. For example, let’s say that you’re buying a four-door sedan. To find the right car, you have to go to a bunch of different dealerships, because dealers will only sell you the cars they have in their own inventory. So depending on your price range, you might have to go to a dozen different showrooms: Chrysler, Dodge, Chevy, Honda, Ford, Acura, Infiniti, Mercedes, BMW, Audi, Volvo, and all the rest. And you might even have to go to multiple dealerships that sell the same brand, since one Honda dealership can’t sell you a car held by another dealer. The process can be exhausting.

On top of that, you are always at a disadvantage when navigating the car buying process, because you’re totally on your own. That car salesman in the showroom might be the nicest guy in the world, but we all know he works for the dealer. He doesn’t work for you. His job is to get his boss the best price for the car -- which by definition means getting you the WORST price! And that salesman has huge informational advantages over you. He knows what other similar cars have sold for recently. You don’t. He knows the ins and outs of that car, and how it compares to full-time agent, she has market and product knowledge: she other cars. You don’t. Even if you do all your research, you’ll knows what comparable homes have sold, what homes have NOT never equal his product and market knowledge. It’s not an even sold, and what’s currently available on the market. That puts you playing field. on an even playing field with the seller.

Now compare that to buying a home. Because of the way the You see the difference? When you buy a car, you’re on your own, real estate industry is structured, with an agent on both sides and you’re always going to be at a disadvantage working with a of the transaction, home buyers have a much better experience salesperson who has superior market and product knowledge, navigating the process of buying a home. Unlike car dealers, and who negotiates the sale of cars every day for a living. But real estate brokers share all their inventory through a multiple when you buy a home, you get the advantage of hiring an agent to listing service, allowing any member buyer agent to show and sell help you sift through the inventory, advise you about what’s going their properties. So you don’t need to visit dozens of different on in the market and with that particular property, and then help real estate brokers or agents in order to see the whole inventory you negotiate your deal. – you just need one good agent. Regardless of who listed that property, any agent who is a member of the local MLS can show And on top of all that, your buyer agent usually comes free! you that property. In most cases, buyer agents are paid by the seller out of the proceeds of the sale. If you represent yourself, you don’t get that More importantly, when you buy a home, you have the savings in your pocket – instead, the seller or listing agent get opportunity to hire an agent to represent your interests. It’s not to keep it. So if that’s the case, why are some buyers so afraid like being at the car dealership where everyone works for the to hire a buyer agent? For example, real estate agents get calls seller. Your agent works for YOU. She has fiduciary obligations like these all the time: “Thank you for calling Better Homes and to look out for your interests. Moreover, if she’s a professional, Gardens Rand Realty. How can I help you?” Buyer Orientation Guide | Preparation | Chapter 1.1

“I saw your sign on a house on Ridge Road in New City. Is it still “just looking,” and who are afraid of agents inundating them with available?” phone calls and emails once they express any kind of interest in buying a home. It’s like when you go into a department store and “Let me check. Yes, it’s still available. It’s got four bedrooms try to avoid the sales clerk because you’re really “just looking” and three –“ and don’t want the clerk hovering over you for the whole time.

“Great! Could you take me to look at it?” We can certainly understand why some buyers feel that way, because the real estate industry has a pretty well-deserved “Well, I’d be happy to do that. Why don’t we make an reputation for aggressive sales techniques that can sometimes appointment for you to come into my office so we can sit down make buyers feel uncomfortably pressured. But let’s also for a few minutes and find out what your situation is? Then we recognize a few important things: can go take a look at that home and maybe some other similar listings that might meet your needs.” But if you find that your agent is making you uncomfortable, just say something! Your agent works for YOU, so she should “That’s okay. I just want to see that house. But I don’t want to accommodate to your needs and comfort level. If the agent is a come to your office. Can we meet there?” professional, she should get the message, and you won’t have to worry about working with a “pushy” agent. We see this all the time in the real estate industry – buyers who would rather meet “at the house,” who spend months visiting “Ultimately, we understand”. open houses on their own, who waste hours staring at pictures on their laptops rather than making appointments to go see Ultimately, we understand and appreciate that people are afraid houses in person. They’ll meet an agent at the house, realize it’s of dealing with a “salesperson.” That’s why Better Homes not right for them, then say goodbye to that agent. A week later, and Gardens Rand Realty has pioneered the “client-oriented” they’re calling another agent on another house, meeting at the approach to real estate brokerage that emphasizes our agents’ property, realize it’s not right for them, and so on. Such a waste roles as service professionals rather than “salespeople,” and of time! encourages agents to take a proactive approach to identifying and satisfying our clients’ needs – including the need Why are so many people afraid to hire a buyer’s NOT to be sold to. We don’t want our real estate agent? Sometimes, potential buyers in the agents to act as “salespeople” any more early stages of looking for a home are than you do. So we hope that you’ll realize actually too considerate for their own that having an agent is good thing, not good. They’re afraid to call upon an something to shy away from. A fear of agent’s services and make the agent sales pressure is a really bad reason waste a lot of time helping them if to deny yourself the services of a they’re not really sure they’re ready good real estate agent, particularly to buy. And while we do appreciate when it is so easy to dispel that the thoughtfulness, we should make pressure and focus the agent on clear that this is a TERRIBLE reason providing you with the services you not to hire an agent. That’s the job! need. That’s what real estate agents do! They help people just starting out in Rather, you should think about all the buying process and guide them the advantages you get with a good through that process. Do a lot of clients buyer’s agent: eventually choose not to buy something? Of course! But that doesn’t mean that the First, your buyer’s agent acts as a time spent was “wasted.” Agents don’t think that fiduciary representative, legally bound to way. You shouldn’t either. look out for your best interests. If you’ve never bought a home before, or you last bought a home The biggest reason, though, is that buyers are afraid of prior to the mid-1990s, you might not even realize that “salespeople.” They’re terrified of the “hard sell.” They buyer agents have that fiduciary responsibility to their fear getting a “pushy” agent who is going to pressure them clients, because buyer agency did not exist in New into buying a home before they’re ready. We particularly York until about 20 years ago. But it’s now one of the see this with potential clients who are in the early stages of most important advantages you have in buying a home Buyer Orientation Guide | Preparation | Chapter 1.1

with an agent. Indeed, the fiduciary relationship with your value to your home buying process. agent is similar to the attorney-client relationship that you’re probably familiar with: among other responsibilities, your agent Third, a buyer agent provides a range of services that will has the duties to be loyal only to you, keep your confidences, help you have a better transactional experience. From your and make all disclosures to you of any material facts. When first consultation to your final closing, your agent is responsible you get a buyer’s agent, you’re not getting a “salesperson” – for a wide array of services that you will need to ensure a you’re getting someone who is on your side, representing your smooth home buying experience. Throughout the process, interests. your buyer agent will stay in constant communication with you, through phone or email, to make sure you’re up-to-date with Second, working with a buyer agent gives you several what’s happening in the market, your home search, and your competitive advantages that you cannot get working on transaction. your own. Some of those advantages, including advantages that you can only get working with a Better Homes and Gardens Rand Finally, you generally do not pay for your buyer agent’s Realty agent, are: services, because the seller usually pays all the broker fees out of the proceeds of the sale. It’s really one of the best • Access to sold property data. Even in the information age, deals in the industry: you get all the services of a buyer agent it’s difficult for lay people to get full and complete access to to represent your own interests, help you find the right home to sold information, which is crucial for helping you determine buy, and facilitate the entire purchasing process, and you don’t the market value of unsold listings and in preparing your even have to pay for it. In certain cases, sellers do not offer to offers. pay buyer agent fees, but your agent will make that clear to you when you look at the home, so you will be able to condition your • Preliminary lien searches. Because of our affiliate offer on the seller paying the agent out of the sale proceeds. relationship with Hudson United Abstract, your agent can Generally, though, you get all the benefits of buyer agency order a preliminary lien search on any property you place without any of the direct costs. an offer on, which can help you in formulating your pricing strategy or identifying “red flags” on the title that might delay Conclusion your transaction.

• The intermediary negotiating role. Any professional negotiator will tell you how important it can be to have Working with Multiple Agents someone act as an intermediary in If working with one agent is good, is working with multiple agents better? Answer: No! any negotiation, to deflect persuasive Sometimes, buyers like to work with multiple agents because they think that they’ll get pressures and allow you to limit more work done that way. But all that does is undermine the relationship you could bargaining authority from “outside the develop with one agent, and waste a lot of your time. All agents in the local MLS have room.” access to the same inventory of listings, so working with multiple agents means that you’ll probably end up seeing the same properties over and over again. Moreover, you’ll • Neighborhood Expertise. A good real find that one of the most important aspects of the agent-client relationship is the insight estate agent knows the neighborhoods, that an agent gets from working with you over time, which requires a long-term, deep, and can provide you with information and exclusive relationship between you and your agent. Don’t play the field. Make a that goes beyond the four corners of commitment to the right agent. the listing detail sheet, information that might be crucial for determining the true market price. Ultimately, this is one of the best deals you’ll ever have. Your buyer agent will work tirelessly on your behalf, always in your • Transactional Facilitation. A real estate agent’s job doesn’t end when you reach a meeting of the minds with a seller – best interest, and in the end it will be the seller who pays your rather, the agent then becomes a facilitator, coordinating all agent for those services. Think of it this way – real estate agents the other professionals in the transaction to make sure you have a full-time job in helping buyers through the transactional have a smooth transition through to your closing. process. If they’re not around to do that job for you, then you have to do it for yourself. And you probably have your own job. And that’s only a short list of some of the biggest advantages you have in hiring a good buyer’s agent. Basically, good agents add Buyer Orientation Guide | Preparation | Chapter 1.1

Agent Services Through All Three Stages of Your Home Buying Experience

Explain the entire transactional process, so you’re fully informed about what you can expect during your purchase.

Help you navigate the buying process, to avoid delays and pitfalls throughout your transaction.

Help you discover your needs, wants, and desires in purchasing a home, helping you narrow down your home buying preferences and introducing considerations that you may have overlooked.

Connect you to a qualified mortgage professional to help you fully understand the financing process, get prequalified for a loan, and ultimately provide you with your home financing.

Help you assemble the rest of your home buying team, including your engineering inspector, attor- ney, title representative, and insurance representative. Stage One: Preparation One: Stage

Provide ongoing information about the housing market in your target areas to help you stay on top of pricing trends.

Set you up with saved searches so that you get email alerts whenever a relevant property hits the market, has a price change, or gets updated.

Help you review available inventory and find the home that suits your needs, wants, and desires.

Create buyer tours and comparative market analyses on properties you see, to help you in preparing the terms of your offers.

Schedule your appointments, and help you navigate through the inventory of homes available. Stage Two: Search Two: Stage Professionally present your offers and negotiate the purchase of your home to ensure you get the best terms possible.

Obtain a preliminary lien search report from Hudson United Title to determine whether your potential purchase is burdened with liens that might delay your closing.

Order and attend a property inspection and review all findings with you to help determine whether the property condition should affect your offer.

Assist your attorney in preparing the terms of a contract of sale.

Coordinate all the members of your home-buying team – finance, legal, title, insurance – to ensure a seamless transaction.

Attend the walkthrough prior to the closing to make sure that the property condition is acceptable . Stage Three: Transaction Three: Stage to you

Attend the closing to be available as a resource for any last-minute issues that crop up. Buyer Orientation Guide | Preparation | Chapter 1.2

What Are You Looking For?

Your first consultation with your buyer agent is an important step in setting the right course for the rest of your home buying experience. It’s a great opportunity to share with the agent your hopes, wants, and desires about the process, and to ensure that your agent knows exactly how to best service your needs. In order to have the best possible first consultation, we encourage you to prepare for the meeting by thinking about what you want from your home buying process.

e want to give you some • What are your biggest concerns about information about what you buying a home? W can do before your initial consultation with your buyer’s agent. This • Are you familiar with the current state will ensure a more productive meeting, of the regional housing market? consistent with our overall advice to be actively engaged throughout your buying • How comfortable are you using process. technology to search for a home, like on randrealty.com? At your initial consultation, your agent will ask you questions about your familiarity All our clients are different. Some have with the buying process, your preferences purchased homes recently, and know in the type of home you want, your exactly what to expect. Others are first- geographic needs, and your purchasing time home buyers apprehensive about power. We will also be asking about any what they should expect from the process. particular concerns or needs you have Whatever your situation, you want to make about buying a home. sure your agent knows what you need from us to help you fully understand the You will have a more productive meeting • Have you already started looking on process. if you think about those questions in your own? What have you found that advance. You have no obligation to interests you? What Do You Want From prepare ahead, but you’ll find that you’ll Your Agent? get more out of the meeting if you think Remember that buying a home can take You should think about what you’re about these issues before you’re sitting a long time. Most of our clients spend looking for from your Better Homes and down with your agent. Moreover, this months in just the home search process, Gardens Rand Realty agent to ensure that exercise will also help you get into the and once you find the home that you want your agent knows how to best service your right frame of mind about your home to purchase, you’ll likely spend three needs. search process, and help get you into the to four months more completing all the practice of being more proactive about the transactional work that is required to • What are you looking for in an agent? entire process. execute a contract, secure financing, and finishing all the other tasks required to get • What’s the most important quality you Here are some of the questions you your purchase closed. look for in service professionals? should consider before sitting down with your agent for the first time. How Well Do You Know the Home • How do you want to communicate with Buying Process? your agent: phone, email, text, or only Why Are You Moving? You should be prepared to discuss in-person? People move for all sorts of reasons, and with your agent your comfort level it’s helpful for your agent to know about and familiarity with the buying and • How often do you want to hear from your particular motivations so that he or financing process. This will help your your agent: daily, regularly, or only when she can help prepare to get your process agent in gauging the amount and type new properties come onto the market? moving at the pace you desire. of information you should be getting throughout the process. • How often do you want to go look at • What’s the reason for your move? properties, and are you already looking • Have you done this before, or are you on your own? • What’s the time frame of when you want otherwise familiar with the process of to be in your new home? buying a home? Buyer Orientation Guide | Preparation | Chapter 1.2

Our goal at Better Homes and Gardens Rand Realty is to ensure that you have The Buyer Disclosure Packet an outstanding home buying experience. Buying a home is a serious financial and legal transaction, so at Better Homes and Gar- The first step for making that happen is to dens Rand Realty we are deeply committed to ensuring that you fully understand your know exactly how you want to be serviced, legal obligations and protections. That’s why we have created what we call the “Buyer so make sure you explain to your agent Disclosure Packet,” which is a professionally designed package containing all the docu- what it is you want from him or her. ments relating to your home purchase. Your agent will present your Disclosure Packet on your first meeting, and will go over all the forms with you. The Packet might seem How Familiar Are You With the overwhelming at first, but remember that these documents are designed for your pro- Financing Process? tection, and are required by federal law, state regulation, or the Realtor Code of Ethics. You should feel comfortable discussing If you’ve met other agents who didn’t ask you to fill out these forms, you should wonder your financial situation with your real estate why they’re shirking their legal obligations to advise you of your rights! agent, since all our agents are licensed professionals who are qualified to help determine your purchasing power. You should absolutely have a good sense of United Mortgage representatives to discuss home you want, it’s important to keep an your purchasing power before you spend financing with you. open mind. What a lot of home buyers find time looking at houses that might be above is that they end up purchasing a home that or below your proper price range. What Are You Looking For in is very different from the types of homes Your New Home? they initially started looking for when they • What price range do you think you Finally, and most importantly, you should began the process. They start out looking qualify for, based on your income and take some time to think through what in a particular town for a specific home your savings? you’ll looking for in your new home. Now, style, but once they begin looking at what’s you might have a general idea of the kind available they fall in love with a totally • How much are you comfortable of home you like, but you’ll be amazed at differently-styled home that is completely spending for your monthly mortgage the myriad choices that you’ll have once outside their original market area. That’s payment, insurance, and property you start looking at the properties that are a very normal part of the process, so don’t taxes? available. be alarmed as your tastes evolve.

• How comfortable are you with your The list of questions below are designed to Conclusion understanding of the financing process, prompt you to think about all the various Your initial consultation with your Better which has become more complicated in considerations that might go into your home Homes and Gardens Rand Realty agent is the past few years? purchase. Some of these questions will just the first step of your home purchasing address issues that are unimportant to you, process, but it’s an important step. It’s • Have you been pre-qualified for a but some might spark you to realize that your first opportunity to really think mortgage amount by a local mortgage you have particularly needs and desires through what you want from your agent, consultant, or do you need to talk that you’re going to want to satisfy in your what you’re concerned about with the with a Hudson United Mortgage new home. So think about each of these process, and what kind of home you’re representative? questions, and if they prompt some ideas looking for. So please take some to think then be sure to share them with your agent. about these issues before you meet with If you would be more comfortable discussing your agent, to ensure that you have the finances with a mortgage consultant, have Ultimately, though, even as you go through best possible first meeting and get things your agent contact one of our Hudson the exercise of thinking about the kind of started on the right foot. Buyer Orientation Guide | Preparation | Chapter 1.2

What Are You Looking for in a New Home: Questions You Should Consider Before Meeting with Your Agent Location What area would you like Are school districts to move to, and why? important to you, and is Where will you be working, and what type of proximity to local schools commute are you comfortable with? Are there other areas important to you? you would consider? Is proximity to particular religious institutions important to you?

Size and Style

What size of a home Do you have any kitchen are you looking for, in a What type of home (ranch, raised- preferences (certain style of general square footage ranch, colonial, contemporary, etc.) appliances, eat-in-kitchen, etc.) range? are you looking for? Do you have any particular Are any of these things “must preferences for amenities (e.g., pool, haves,” or are they just master bedroom on the first floor, preferences? If they’re just fireplaces, etc.)? preferences, which of them is Will you be working inside most important? Do you have any the home, and do you need a particular and unusual designated home office? Do you have any particular preference needs in a home that for lot size? the agent should know Do you have a particular preference How many bedrooms and about, such as large for block location (e.g., corner lot, cul- baths do you need? pets or residents with de-sac, etc.)? disabilities that need accommodation? Buyer Orientation Guide | Preparation | Chapter 1.2

What Are You Looking for in a New Home: Questions You Should Consider Before Meeting with Your Agent Personal Tastes

Do you want a lively neighborhood, or do you What features of your like privacy? PERSONAL TASTES Do you prefer a home previous homes did you that is a “hub of activity,” or do you prefer a like the most? What did quiet retreat away from the world? you like the least? Do you like a big open floorplan, or do you prefer a more traditional Who will be living in the home, and is there a layout with defined room spaces? possibility in the future that the number of people living there might change? Is there something you disliked Have you visited homes that you about your previous home, and liked for their unique features, and would you like to avoid that in your what were they? new home?

What are the most important “must-have” features for your new home? What’s your highest priority? Buyer Orientation Guide | Preparation | Chapter 1.2

Are You Looking Outside Our Market Area? Although Better Homes and Gardens Rand Realty services a wide geographic area, we often work with buyer clients who are also looking outside our market area. If you are also considering moving to places like Long Island, Connecticut, or even a market area that Rand covers but is not directly serviced by your agent, you should absolutely tell your agent that you need help outside of the market area that he or she covers. This will allow your agent to refer you to another Rand agent that does serve the market area, or to one of our “referral partners” who can ensure that you have a great buying experience. What’s are the benefits to you of being referred? • First, you’ll find that you’ll have a better experience if your agents covering the different market areas are working together, rather than “competing” to get you to buy in their area. They’ll be able to share information during your process as they learn about what you like and don’t like in homes that they show you. • Second, you’ll be assured that you’re only working with agents that meet the high standards we have for our referral agents. • And third, you’ll find that your referred agent will work hard to ensure you have a good buying experience, because he or she will know that future referrals depend on your providing us with posi- tive feedback about their performance. So if you are thinking about looking outside our market area, or outside the are serviced by your agent, you should let your agent know so we can make sure all of your home buying needs are met. Buyer Orientation Guide | Preparation | Chapter 1.3

Assembling Your Team

Buying a home requires more than just the services of a great real estate agent. You are going to need a team of real estate specialists to help you with your financing, legal, and insurance needs. A great team can make a big difference in your real estate transactional experience, so it’s important to start assembling that team as soon as possible.

uying a home is a big project. It’s not something you can do yourself, B and it’s not something that even the best real estate agent in the world can do by herself. Like any big project, you need more than just one person. You need a team.

Your real estate agent is like the quarterback of your team, the most important player, the one who has the ball in her hands for most of the game. Indeed, her primary role through much of the process will be directly helping you find that home: taking you on showings, evaluating the market, preparing and an inspection to ensure that the home in the process, discuss your insurance presenting offers, and reaching a meeting is fundamentally sound. Your home options, and then be able to secure of the minds with a seller. inspector will review the condition of coverage quickly. the home, and prepare a report that But once you’ve reached an accepted offer you’ll be able to review with your agent Throughout your home buying process, it’s with a seller, your agent’s role becomes before you sign contracts to purchase your agent’s job to facilitate the work of much more facilitative. She doesn’t have the home. all these professionals. She’ll coordinate much direct work to do once you’ve found with the loan officer, schedule and attend the home you’re going to purchase, but • Real Estate Attorney. Your attorney the inspection, provide your attorney with now has the primary role of coordinating will counsel you about your rights and all the deal terms, order preliminary lien and directing the rest of the players on responsibilities under your contract of searches from your title representative, your team. Like the quarterback, her role sale, and negotiate the final terms of and provide whatever information your is to set the formation, call the plays, and the deal with the seller’s agent. insurance representative needs to make make sure everyone else is doing their job sure you have coverage at your closing. correctly. • Title Representative. Your title rep Like the quarterback, a good real estate will order your title insurance, which agent knows how to get the most out of The Players you’ll need to protect against adverse the other players on the team. Here are some of the players that you’ll claims of ownership. And if you’re need on your home buying team: working with Hudson United, you can order preliminary lien searches during Hudson United • Loan Officer. Your loan officer is your home search process to gather responsible for ensuring that you get important information about homes Hotline financing for your home purchase. You you’re placing offers on. should start working with your loan 1(845) 825-8061 officer right at the beginning of your • Home Insurance Representative. If you ever need your Hudson United process, getting prequalified so that You will need full home insurance mortgage, title, or insurance repre- you know how much home you can coverage before your closing. As sentatives, you can call our hotline afford. always, we urge you to be prepared number and talk to a customer service in advance, and one way to do that representative who can connect you • Home Inspector. Once you have an is make contact with your Hudson to the people you need. accepted offer on a home, you’ll need United Insurance representative early Buyer Orientation Guide | Preparation | Chapter 1.3

Choosing Your Team Second, hire only local professionals the process while they find the attorney, Now that you know the players, the next with expertise in your market area. Too make first contact, have a consultation, question is about choosing up sides. many buyers make the mistake of hiring and then start the process of reviewing the If you want to have the best possible out-of-market professionals who are not sales contract. Similarly, too many buyers transactional experience, we have some familiar with the local market when buying a find themselves scrambling to get home recommendations about how you should home. They’ll try to get financing from some insurance coverage the day before their pick the professionals that you’re going to online mortgage company because they closing, because they failed to plan ahead. have on your home buying team: get seduced by some “bait and switch” rate that will mysteriously be unavailable once That’s why you should start assembling First, trust your agent’s guidance in they are getting ready to close. Or they’ll your team now. Ask your agent for choosing your real estate professionals. try to save a few bucks by getting relatives referrals for the professionals you will need Your agent is going to have to coordinate who happen to be attorneys to handle their throughout the process. Establish those all the moving parts of your real estate contract and closing, even though they relationships. It doesn’t take a lot of your transaction, so you will most likely have a don’t normally do real estate law. Don’t time, or their time, to have a five-minute better experience if you agent is working make these mistakes. Trust your agent to conversation to put them on notice that you with professionals that she has worked refer you to professionals who know the might need their services sometime in the with in the past. Your team will perform local area and have a strong reputation future. And then they’ll be available to you better if the players have more experience in the local industry. Hiring out of market throughout the process whenever you have working together. Moreover, trusting lenders, attorneys, or engineers might look questions that you need answered. You’re your agent’s recommendations is also like a good deal, but it almost always causes going to need them eventually, so why not a great way to ensure the quality of the delays or difficulties for your home buying hire them now? professionals you’re going to work with. process. Those professionals know how important it Conclusion is to maintain their service reputation in the Third, don’t wait until the last minute. We Finally, we also encourage you to meet industry, to ensure that they continue to include this section on “Assembling Your with the professionals from Hudson get referrals from real estate agents. After Team” in the Preparation Stage of the United, who can provide you with an all, you’re likely to do only one real estate Orientation Guide for a reason – because integrated and seamless “one stop transaction in the next few years, but your it’s important for you to start planning shopping” experience for your mortgage, agent will do many transactions this year ahead in choosing the professionals who title, and insurance needs. The better and have many more opportunities to refer are going to help you through your real the working relationships among your service professionals. Those attorneys, estate transaction. For example, most team members, the easier it will be to engineers, and mortgage officers want to buyers make the mistake of waiting until ensure that you have a great transactional stay on that referral list. they have an accepted offer to hire an experience with Better Homes and attorney, which invariably causes delays in Gardens Rand Realty. Buyer Orientation Guide | Preparation | Chapter 1.4

Getting Pre-Qualified

Getting a mortgage will be the most difficult part of your home buying process, but you can have a better experience if you get prepared and start working with your loan officer right from the beginning.

he hardest part about buying a • Clear to Close. Once you have home is getting a mortgage. For satisfied all the conditions, your Price Range Shortcuts T the most part, you will actually bank will issue a commitment letter Here are some simple rules of thumb enjoy the home buying process: after all, and you will be “clear to close” your to help you figure out your general looking at homes is like “shopping,” and transaction. price range: most people enjoy shopping. Looking at homes online, going on showings with How can you be more engaged, so 1. The 3.5x Income Rule your agent, getting to know the different that you are better prepared? Most Take your income and multiply it by areas and neighborhoods – those are all importantly, you should meet with a loan 3.5 – that’s how much home you can the fun parts about buying a home. officer right away. At Hudson United afford, assuming that you can also Mortgage, our affiliate lending company, make a reasonable down payment and But the mortgage process is messy, we encourage our clients to meet with have decent credit. (This used to be complicated, and often intimidating. a loan officer right at the beginning of the “3x” rule, but when interest rates That’s why we want you to be prepared. their home search, because even a short are in the 3-5% range, it’s 3.5x). Our general advice to be engaged and consultation can answer your questions proactive is particularly important for about the current rate environment, 2. One-Quarter of Income Rule getting a mortgage. If you’re actively assuage some of your concerns about the On the other side, to figure out how involved throughout the mortgage process, and also help you get a better much of a monthly payment you process, and if you start planning ahead sense of your buying power. Too many can afford, take one-quarter of your now, you’ll have a much more pleasurable buyers start looking for a home without a monthly income. Assuming decent experience. clear idea of how much they can afford, credit, that’s how much you can and they waste a lot of time looking at reasonably spend on your mortgage Because the mortgage process is so homes that are above, or below, their payment. central to your home buying experience, actual price range. you should have a general sense of how that process will develop: At your initial consultation with your loan officer, you should be prepared to discuss should be aware that a pre-qualification • Initial Consultation. You’ll meet in some detail your financial situation. letter is not a firm commitment from the briefly with your loan officer and get a Remember that loan officers, at least bank – you won’t get anything like that pre-qualification letter to advise you of the ones with Hudson United, are under until you complete and submit a formal your general price range. strict licensing requirements to protect loan application, which you cannot do until the privacy of your information and keep you actually find a home to buy. Rather, • Application. Once you find a home your confidences, so you should feel the pre-qualification letter is really just a to purchase, you’ll complete a formal free to discuss your personal situation general indication of your buying power. mortgage application to your lender. without holding anything back. Your loan officer will review your financial profile, But the pre-qualification letter is still • Processing. Your loan processor, who give you a general sense of your price important for two major reasons: works with your mortgage officer, will range, describe the current interest rate review your file and probably contact environment, and explain the various First, it will allow you to go through the you about supplementing it with some mortgage products that might be available process of discussing your financial supporting documentation. to you. situation with your loan officer, which will ensure that you have a good sense of your • Underwriting. Your processor will Most importantly, by having that initial true price range before you go out and submit the file to an underwriter, who consultation with your loan officer, you’ll start looking at properties. could deny or approve the application, be able to get a pre-qualification letter: but will more likely issue a “conditional a statement on the bank’s letterhead Second, and perhaps more importantly, a commitment” required more indicating that you have been “qualified” pre-qualification letter from a reputable documentation or clarification. for a particular price range. Now, you lender like Hudson United is almost a Buyer Orientation Guide | Preparation | Chapter 1.4

Getting a Prequalification Letter

If you do not yet have a prequalification letter, just call 1.866.721.7263 to speak to a Hudson United Mortgage loan officer. We can arrange to get your prequalified over the phone and have a letter emailed or faxed to you immediately. “stamp of approval” for sellers and listing have identified a property to buy and have “team,” and someone you can then agents. In a competitive environment for submitted a full application to a lender. contact whenever you have financial buyers, a pre-qualification letter indicates Rather, the pre-qualification letter is questions or issues. that you are credible and serious, and that designed to give you just a general idea of you have the general financial wherewithal your price range, so that you have a better Conclusion to back up your purchase offers. Indeed, sense of what you can afford when you This is really only a general introduction to many sellers demand a pre-qualification start looking for a home. the mortgage process. If you want a more letter before they will even consider your comprehensive overview of mortgage offers! Accordingly, we strongly urge that you products, qualification guidelines, and have a short sit-down with your loan interest rates, check out the Hudson All that said, we should note that a officer early in your buying process. By United Transaction Orientation Guide, pre-qualification letter is not a binding forging that connection with your loan which is available from your Hudson commitment from the bank. You won’t officer, you’ll secure one of the most United mortgage loan officer or your get any kind of formal approval until you important members of your home buying agent. Buyer Orientation Guide | Preparation | Chapter 1.5

Getting Started with RandRealty.com

The first step in your home search process is setting yourself up on randrealty.com, the premier real estate website in our region. In this section, you’ll find out about all the features on the site and learn how to register so that you can get email alerts for your saved searches and properties.

he Rand organization has always • Powerful search tools. You can do means that most of the visitors to our site been one of the leading technology quick searches right from the home aren’t even in the market to buy a home. T companies in real estate, page, or do an advanced search to recognized throughout the industry as pinpoint the types of homes you are Property Detail Page a cutting-edge pioneer committed to looking for, including multiple area Once you’re done your searches on providing our agents and clients with the searches with simple check boxes (not randrealty.com, you’ll notice the elegant, best tools possible. The centerpiece of those “hold down the CTRL-key while intuitive design of the property detail our dedication to technological innovation you….”-type systems). pages, which provide all the information is randrealty.com, our award-winning available from the multiple listing system, website providing the best real estate • Open house listings. Open house and even more information for the many search and property display features listings are updated every week if you listings with our company. In addition, we available in the industry. want to narrow your search just to have integrated a number resources into homes available for public viewing that the site to give you features like mapping, The randrealty.com site has long been weekend. demographic information, market data, at the leading edge of the regional and school information. real estate industry. We were the first • Community Insight. If you want to company to provide full multiple listing research the local area, you can find Here are some of the highlight features of inventory, the first to add multiple comprehensive demographic reports the property detail pages pictures, the first to provide mapping and and school information for all our address information, the first to adopt communities and school districts. And • Up to 50 high-resolution photos. blogging and social media integration. you should also check out Community We display all the photos provided We are constantly innovating the site, Heartbeat, our lifestyle blog for our by the MLS in the highest resolution adding new features and capabilities local communities, featuring local possible, with up to 50 photos designed to provided our clients with the attractions, village and town profiles, available for our own listings. best experience possible. and picture tours. • Full property descriptions. Unlike Today, randrealty.com gives you access • Lifestyle resources. To learn more some sites, we do not have a maximum to every property for sale through all the about home design, decoration, and character count for our property multiple listing systems in the region, improvement, take a look at the videos descriptions, so you won’t miss out on with powerful, intuitive and easy search and articles from Better Homes and a particularly lengthy home profile. features. We also provide access to Gardens Real Estate, which cover innumerable resources that you might everything from do-it-yourself projects • Property addresses and mapping. need during your home search, including to design trends to home makeovers. Every listing has the property address market data, school reports, and even and all Google map features, so you design and decorating videos and articles • Market Intelligence Blog. Our can see where the home is, toggle to a from Better Homes and Gardens. company blog features analysis and satellite view of the property on Google commentary on the national and Earth, and get driving directions. The Site Features regional real estate markets, and satellite views are particularly helpful Here are some of the feature highlights of advice for our clients. for getting a sense of the property line randrealty.com: and dimensions. Ultimately, our goal is to make randrealty. • All the listings. Randrealty.com is com your bookmarked site for anything • The Toolbox. Every local area has its one of the few places you can go to you need to know about local real estate, own “toolbox,” which is a collection get listings of the entire regional area, not only during your home search but of school reports, demographic so you don’t have to look in different after you close. Indeed, the site gets information, and a community tour places if your search takes you across almost two million yearly visitors, about from the Community Heartbeat blog, a county or state border. 100 times the number of people who buy so you can do in-depth research of that a home in our region every year, which individual property. Buyer Orientation Guide | Preparation | Chapter 1.5

• Sharing and printing options. You none of the national sites have or display can share any property via email, or on the amount of property information that Going Mobile any of a myriad of social media sites. we do: You can also print an informational flyer if you want to get a copy of the • They don’t have all the listings. property for your files. Brokers can (and often do) opt out of providing their listings to national sites, • Saving options. You can save the so those sites don’t have all the listings property to your “favorites” list to that are available on randrealty.com. track it and register for email alerts on it. • They don’t provide all the listing information. Those sites make money Most importantly, randrealty.com provides by charging brokers to “upgrade” their you with all the information we can get listings with full displays of all the from the local multiple listing system. pictures and listing information. Some We don’t prioritize our own listings, brokers don’t pay, so the sites often manipulate search results, or penalize present a minimal number of pictures other brokers by limiting the information or truncated information. we’ll provide on their listings, because that would not be a good service to you – • They are often inaccurate. The MLS the user of the site. We want you to feel inventories of properties for sale are comfortable relying on the information on huge and complex databases, and data randrealty.com as the most up-to-date, errors are unavoidable. We look out for comprehensive, and accurate property these errors and fix them when we find information available on properties for them, but the national sites have to The randrealty.com site is fully sale in your area. monitor hundreds of MLS systems and optimized for smartphones can’t possibly keep the same level of and tablets, with a “web app” Using National Real Estate Sites attention that we can. accessible from any device. Just We truly believe that randrealty.com is visit www.randrealty.com on your the single best real estate website for • Their search results are often browser and follow the instructions doing home searches in our local region. misleading. Most of the sites, again to save the site to install the web If you want proof, just do some searches based on their business models, app to your system. If you would on randrealty.com, and then check the manipulate search results to put like to use an integrated app, we results, and the information displayed on certain properties higher in the results, recommend the Realtor.com app, the property detail pages, against any of which can often cause you to miss which is available on all major our competitors – even the national sites. homes that might be more relevant to smartphone and tablet platforms your query – but which did not pay to and is the best of the national real Indeed, many of our clients come to us get a priority placement. All search estate apps. Once you’re on the after using national real estate sites like results on randrealty.com display by app, connect with your agent, who Zillow, Trulia, or Realtor.com. Those are default in price order from high to low. can then collaborate with you on great websites, and we partner with them searches, send you properties, and to display our listings, but they can’t The bottom line is that you’ll find more get direct requests from you for compare to the sheer number of listings, listings, with greater and more accurate showings. the depth of informational detail on those information, on randrealty.com. With all listings, and the accuracy of randrealty. that said, though, we certainly work with com. After all, the most important many clients who use both our site and feature for any real estate website is one or more of the national sites, so you timely, comprehensive, complete, and should do your research on whatever site accurate data of the homes for sale, and works best for you. Buyer Orientation Guide | Preparation | Chapter 1.5

Registering on the Site

Go to the “Register Me” Page Go to www.randrealty.com and click on the “Register Me” link along the top navigation bar, on 1 the right. You’ll come to the registration page. Fill in your email address, and then create a password for the site and enter it twice. Then click the button for “Get Free Access.” You should go to a page indicating that your registration was successful.

Go to the “My Account” Page Go back to the navigation bar at the top and click on the “My Account” link. Fill in as much 2 information as you would like. None of the information is required, but it will help personalize your experience on the site.

Select Your Agent On that “My Account” information page, select your agent where it says “Agent Information.” 3 Just pull down the menu, and find your agent – the agents are sorted by last name. Make sure you do this, because it will create a connection on the site between you and your agent, and help you communicate. If you do not have an agent yet, and would like our help assigning the right agent for you, click on the “Please have a Rand representative contact me” box. Make sure to hit “Save Data.”

Using the Site That’s it! You’re done and on the site. Now, you’ll notice there’s a new link at the top of the navigation bar called “My Homepage.” This is where you will go to see your saved properties and saved searches, which are important features that you’ll be using a lot during your home buying process:

Saved Properties. You can save any Saved Searches. You can set up a saved Email Alerts. Whenever you get a property you’re viewing on the site by search anytime you use the “Search” “hit” on a saved search, or whenever clicking the “Save Listing” link right function on the site. Just be sure to check information on a saved property changes, underneath the photographs. That off the box labeled “Save this “Search” you’ll get an email alert at the email property will be saved to “My Homepage”, before you hit the “Search” button. Saved address you registered with. Make sure and you’ll get an email alert when any searches are great for two reasons: first, to add the “@randrealty.com” email information on that property changes because they allow you to run a search domain to your “safe senders” list on your (e.g., price changes, new photos, etc.). right from your “My Homepage” without email account, to avoid having the emails having to re-enter the criteria every time; mislabeled as spam. Also, it’s a good idea and second, because those searches to set up a “smart folder” on your email will generate email alerts to you anytime account to segregate your randrealty.com there’s a change to a property responsive email, so that you can find it easily and it to the search. doesn’t clutter up your inbox. Stage Two: Search

Searching for a home can be a fun experience. When you’re thinking of buying a home, every neighborhood is one big department store filled with stuff that you might want to buy. And most people like to go look at homes – indeed, any real estate agent can tell you that her open houses are often filled with people who aren’t even thinking of moving, but just like to “window-shop” what’s on the market. And just as real shopping is more fun than window-shopping, actually looking for a new home for yourself is a lot more interesting that just checking out open houses. You get to explore new neighborhoods and imagine what it might be like to live there. You get to walk through a home visualizing yourself having dinner there, raising your family there, having parties there – basically, living there. Even more fun, you get to see how other people live, and render snarky judgments on their decorating choices! So enjoy this part of the process. After all, once you find the home you want to buy, the fun ends and the hard slog of contracts and mortgage papers and moving begins.

www.RandRealty.com Buyer Orientation Guide | search | Chapter 2.1

Ten Principles for Starting Your Home Search

What should you look for in a home? What makes a good investment? What will make you happy? Here are ten things to keep in mind as you start your home search.

efore you get started in your home search, we wanted to you believe will appreciate well. Or share with you ten fundamental principles about home you might find value in a home that B buying that you might find helpful. is in an up-and-coming area that will develop over time and boost home 1. Get to know the market, but don’t take forever. prices. Moreover, you should look Very few people are lucky enough to find their perfect home in for a home where you can ADD the first showing, or even in the first couple of showings. Indeed, value: a house that doesn’t show finding your “dream home” in the first showing can actually be well because of it’s condition, counter-productive, because you’ll immediately think about all but which will be worth much the other homes that might be EVEN BETTER that are still out more once you make some cheap there, without realizing that you lucked into the perfect home on repairs and clean it up. Or a home with the first try. So take your time to get to know your market and property taxes that are too high, but which learn the inventory. Over time, you’ll get a sense of what you like you think you can get reduced with a and don’t like, and what’s a reasonable expectation given your grievance. Ultimately, in the kind price range. That said, of course, you should eventually come to of market we’re in right now, the point that you’re confident in your read on the market, which finding value is relatively easy, is when you need to be ready to pull the trigger. Buyers who hold because property values are out for perfection often find the market passing them buy, as one likely to increase across the great home after another gets snapped up while they’re deep in board over the next few years. deliberation. 4. Keep an open mind. 2. Buy something you love, but realize you won’t love Most people start their home searches with a very firm idea of everything about it. what they’re looking for. But you’d be surprised at how many of Buying a home is like falling in love with your spouse. You go on them end up buying a home that is completely different from the the market, you check out the “inventory,” and you find someone one they thought they’d be buying. Maybe they changed their that you absolutely love and want to spend the rest of your life location preferences once they got to know the areas better. with. But no matter how much you might love your spouse, you’re Maybe they realized they didn’t want a big house yet, and decided never going to love everything about him or her. It’s the same to get a condo. Maybe they fell in love with an old-fashioned with buying a home. You’re buying a home for $350,000, and Victorian layout, even thought they started out wanting a modern wish you could have that extra bedroom that the $500,000 house floor plan. That happens all the time. So while it’s important for has. But that guy buying a $500,000 house really wishes he you to have a good sense of the kind of home you want, keep an could afford the $700,000 house and get a bigger lot. And the open mind during your search process, and don’t be so fixed on guy buying the $700,000 house is frustrated that he can’t get the those goals that you miss out on opportunities you might like. finished basement that’s available in the $900,000 house. It’s that way all the up the scale. It doesn’t matter what price range 5. You’re buying the home, not the furnishings. you’re in, because there’s always SOMETHING in that home you Smart buyers have the ability to look past the superficial nature don’t like and wish you could change. But if you could change of how a home shows. Always remember that you’re buying the it, then the home would be worth a little more and then you home itself. You’re not buying the furnishings. You’re not buying wouldn’t be able to afford it. And if you COULD afford it, you’d the clutter. You’re not buying the condition: the smell of cat move up in price range and find something new to aspire to – and urine, the stained carpets, the dirty windows. All those things to be disappointed with. leave with the sellers, leaving the home itself behind. When you see something that’s cluttered, or dirty, or poorly laid out, try to 3. Buy value, or where you can add value. look past it. See it with the eyes of a real estate professional, When you’re buying a home, don’t be so focused on finding a someone who looks at properties and just sees the location, the “steal.” In an open market, it’s very tough to find something that square footage, the amenities, the layout. Those all stay with the is severely undervalued. More importantly, you don’t need to find property. The clutter and the smells? They don’t. And it goes a “steal,” you just need to find a home with value. And as you get the other way, too. If the home is beautifully staged, don’t be so to know the inventory, you’ll start to see where the values are. overwhelmed that you forget to think about how it will look once You might find value in a well-made home in a desirable area that you’re actually living there. It might seem roomy only because Buyer Orientation Guide | search | Chapter 2.1

the sellers took out all the clutter that you’re going to be putting a small but dependable group of potential buyers. After all, if you in! Pay for the home, not the staging. love the home, then other people will probably love it as well. Just go in with your eyes open that someday you’re going to have to sell 6. Buy within your means. that home, and there might not be a whole lot of people with your When you sit down with your loan officer, you’ll get a sense of how particular tastes. much home you can afford, and establish your price range. But that doesn’t mean you absolutely have to spend that much. Lots 9. Buy for your time frame. of buyers purchase a home that’s below the price range they could We never advise people to “flip” homes unless they are otherwise afford, particularly if they are first-time buyers who are professional investors. Flipping is just too expensive to make looking to move up within five to seven years. They’d rather make sense for the everyday home buyer. The investment of time the investment that allows them to save some money both in their and closing costs makes moving every few years prohibitively down payment and their monthly costs, so they can continue to expensive, so be prepared to stay in your new home at least five save toward a larger down payment for their next home. Or maybe years. That means finding something that will be able to handle it’s just that they want to be sure they can make their payments your needs for the foreseeable future, both in terms of size and while still building a “rainy day” fund. Either way, don’t feel location. So when you buy, think about your time frame. If you’re obligated to spend up to your maximum. planning on being in your home for fewer than five years, you might consider continuing to rent until you’re ready for a longer 7. You’re buying not just a home, but a neighborhood. commitment. You’ve probably heard the expression, “don’t buy the best home on the block.” Why? Because it will be tough to sell, and you’ll 10. A home is an investment, but it’s not JUST an never get the best price for it. But that’s a little misleading. investment. Yes, if you buy the best home on the block, you’ll never get Everyone says that buying a home is one of the biggest the kind of appreciation you’d get if the home were in a nicer investments you’ll ever make. And that’s true. But it’s also a neighborhood. But if the home were in a nicer area, it would cost place where you’re going to live. So keep that in mind as you you more in the first place! The better way to think about this is start your home search. Yes, you want to buy value. Yes, you want to simply remember that when you buy a home, you’re buying a to think about what it will be like to sell that home. But most neighborhood, and the value of your home will reflect the quality importantly, you want to buy something that’s going to make you of that neighborhood. If the area goes up or down in value, so happy for the time that you live there. If you end up falling in love will your home. If the area changes, for better or worse, so will with a home that has quirks, or is in a neighborhood that might your property value – regardless of whether you have the best or not appreciate, so what? If you’re going to love living there for the worst home on the block. next seven to ten years, buy it. We only have one life. We might as well like where we’re living it. 8. Buy with an idea of what it will be like to sell. Generally speaking, you always want to own a home that has broad Conclusion: Dealing with Buyer’s Remorse appeal. The more buyers who might be interested in purchasing Finally, one last thing. No matter what you buy, no matter how that home, the better the chances of both finding a buyer and good a deal you get, no matter how much you love it, you’re getting a good price when you going to at some point feel a sell it. That’s why some pang of buyer’s remorse. agents will counsel you to Recognize that for what avoid homes that are too it is – a small part of your quirky or idiosyncratic – brain that is playing games because it can be tough with you. Buyer’s remorse to find buyers for them. is normal. When you start That said, sometimes to feel it, just write down homes with narrow appeal all the reasons why you’re are easy to sell precisely buying this home. Once you because their features align start doing that, the feeling perfectly with the needs of will probably go away. Buyer Orientation Guide | search | Chapter 2.2

The Showing Process:

The fun part of the home buying experience is going out on showings. You’ll go on dozens of showings during your home search, so this section sets out everything you need to know about the showing process.

he foundation of the home search process is the property What You’ll Get. When “showing,” which is an appointment set by your agent to you meet with your agent Tgo visit a property or a series of properties. Even though it to start the series of can be a lot of work, most of our clients actually enjoy this part showings, you’ll probably of the process. There’s something exciting about every showing: get paperwork on all the the anticipation of seeing the home live that you’ve only before listings you’re going to seen in pictures, the suspense of wondering whether this will be see. It’s a good idea to “the one,” the fun in imagining what it would be like to live in each get a folder to keep all home. Even more importantly, every showing you do is part of those “showing sheets,” your educational process in refining your understanding about because you’ll eventually your own preferences, helping you and your agent learn about see so many homes that what you like and don’t like. it’ll be tough to keep them organized in your head. Keeping the show sheets, and taking notes The Basics on those sheets, is a good Here are some basic rules of thumb for what you need to know way to keep track of the about showing appointments with your agent: properties you’ve seen and what you thought about Scheduling. The process of setting up a showing is very simple. them. You identify a series of properties that you’d like to visit, find a window of time when both you and your agent are available, and Feedback. After then your agent will contact all the sellers or listing agents to showings, or during make an appointment to see the home. It’s your agent’s job to showings if you are alone, set the appointments, not yours – that’s one of the reasons you you should give feedback hired your own agent. to the agent about what you liked and didn’t like, so Notice. Generally, you don’t need to give more than 24 hours long as the seller or listing notice before setting up a showing. Most sellers are eager to agent aren’t present. You have agents show their homes, and will agree to showings on should be as honest as very little notice. Some sellers do require more extensive notice, possible in communicating though, something your agent will be able to determine from the your interest to your agent, property information accessible to brokers in the MLS. who needs that kind of information to learn about you and your preferences. Your Time Commitment. You’ll usually spend about 15-30 minutes agent might also ask you to give formal feedback that can be in the actual showing of the home, depending on your level of communicated back to the seller, particularly for properties that interest, but remember that you also have to factor in travel time. you’re not really interested in. Sellers appreciate that, because If you’re seeing a lot of homes in a very small geographic area, it sometimes helps them adjust their price or presentation of you might be able to see three or four homes in an hour. But if the home. You’re not under any obligation to do so, but it’s you have to drive a long ways between homes, then you might considered polite to provide feedback if asked. only get to one or maybe two in an hour. Your agent will have a good sense of the schedule. Cancelling Appointments. If you have to cancel a showing after setting an appointment, just try to give as much notice as Traveling to Showings. Whether you travel together or possible to your agent, who will then cancel the appointments separately is up to you and your agent. Having the agent with you with the seller or listing agent. It’s no big deal to cancel an can be helpful for facilitating conversation and feedback between appointment, although it’s very discourteous to simply not show showings (and is environmentally preferable!), but sometimes you up when you were expected. all can’t fit in one car. Buyer Orientation Guide | search | Chapter 2.2

What to Do At a Showing Okay, so now that we’ve covered the basics, we come to a more important question: what exactly should you do at a showing? Taking Pictures at Showings To answer that question, here are some suggestions for how to make the most out of a showing appointment:

Keep an open mind. Sometimes, you’ll pull up to the front of the property, and you’ll immediately make a snap decision that this is not the home for you. That’s fine. Tell your agent why. But you should still go into the house to look around. Why? Because we have many buyers who ended up buying a home that they absolutely hated on the first impression they got on the curbside. But even more importantly, you’ve already taken the time to Some buyers like to take their own pictures when they’re drive over, you might as well go inside. Even if you don’t like the out on a showing. Is that okay? It depends. Some sellers home, you might find something about it that you do in fact like, really do not like when buyers take pictures of their homes, and your agent can learn from that. Every showing is part of the because it’s perceived as an invasion of their privacy. So educational process of learning what you like and don’t like, so if you want to take pictures or videos, make a point to always keep an open mind regardless of your initial impressions have your agent check with the seller in advance. Or if the of a home you’re seeing. seller is present, just ask nicely and explain why you want the photo. Please don’t do it without permission. Try to visualize yourself living there. A great way to develop a good feel for whether this is the right home for you is to just imagine yourself living there. Think about what it would be like to wake up every morning in the master bedroom, to make Feedback. After showings, or during showings if you are alone, breakfast in the kitchen, to have meals in the dining room, to sit you should give feedback to the agent about what you liked and back and watch television. Visualize where your furniture would didn’t like, so long as the seller or listing agent aren’t present. go, and how it would look in the home. Essentially, try to imagine You should be as honest as possible in communicating your what it’s like to live there. If you like that image, then this might interest to your agent, who needs that kind of information to be a home you want to consider buying. learn about you and your preferences. Your agent might also ask you to give formal feedback that can be communicated back to the seller, particularly for properties that you’re not really interested in. Sellers appreciate that, because it sometimes helps them adjust their price or presentation of the home. You’re not under any obligation to do so, but it’s considered polite to provide feedback if asked.

Cancelling Appointments. If you have to cancel a showing after setting an appointment, just try to give as much notice as possible to your agent, who will then cancel the appointments with the seller or listing agent. It’s no big deal to cancel an appointment, although it’s very discourteous to simply not show up when you were expected. Buyer Orientation Guide | search | Chapter 2.2

Communicating with Sellers and Listing Agents Five Mistakes Buyers Make Most of the time, you’ll be able to see properties with just your at Showings agent, particularly if your visit is during the workday. Sometimes, though, the sellers might happen to be home when you’re looking 1. Rushing through the home. at the property. That can always be a little awkward, particularly Take your time looking through each room. The more if the sellers hover over you or want to do the agent’s job for her time you spend, the more details you’ll notice. by showing you the house themselves. Other times, the listing agent might be present, particularly in the rare cases where the 2. Making snap judgments. seller demands that the listing agent attend all showings. Even if you don’t like the home when you pull up, take the time to go through it. Remember that every In those cases, it’s always a good idea to be as friendly and showing is part of your learning process, to find out likeable as possible with sellers. You might end up doing a deal what you like and don’t like. with them, and you’d be surprised how much basic courtesy and friendliness can facilitate a good negotiating relationship. And 3. Blabbing to the sellers. if you end up in any kind of bidding war for the property, you’ll find that just being a friendly person can sometimes give you Remember that anything you say can and will be used a leg up in getting your bid approved. So just be nice to them. against you if you ultimately end up negotiating a deal And, of course, never say anything critical or derogatory about on the home. the property (the décor, the cleanliness) in front of the seller or listing agent, because insulting the homeowner is a bad way to 4. Falling in love with the staging. start a negotiation. You’re not buying the staging. Think about how the home will look when you’re actually living in it. On the other hand, you want to be careful about what you say about your personal situation. You don’t want to give away 5. Not taking notes. anything that might undermine your negotiating position if you You’ll be surprised at how quickly you’ll forget the ultimately decide to make an offer, such as your level of interest details of the homes you view. Taking notes can help in the property, how it compares to other homes, your personal jog your memory. finances, your urgency to move, or your price range. For example, you might think it’s harmless to answer a seller’s question about whether you’re currently renting or owning, but answering it might inadvertently reveal your urgency for moving. Similarly, remember that listing agents have a fiduciary duty to their If they ask you direct questions that you don’t want to answer, sellers, so telling that nice agent something like “this is the best just be vague in what you say. You don’t want to be rude by layout we’ve seen” could end up undermining your negotiating ignoring the question, nor do you want to raise hackles by posture later. Just like in cop shows, anything you say can and will “lawyering up” – saying something like “my agent told me not to be used against you. talk about that.” Just say things like “we’re not sure yet, we’re very flexible” or “we’re discussing that very issue with our agent.” So when you’re talking to listing agents or sellers, just keep it And then just ask them a question yourself to change the subject. on a very superficial level. Make polite compliments about the Generally, you’re not going to get the third degree when you see home, compliment the furnishings, ask them questions to get a home, so don’t worry too much about it. Sellers generally don’t them talking (and maybe revealing something!), and most of all ask buyers a lot of questions, and listing agents know that they’re let your agent do the talking. not supposed to ask a represented buyer anything personal. Buyer Orientation Guide | search | Chapter 2.2

Working with Your Agent

Because you’ll be spending a lot of time with your agent, you should try to maintain an open line of communication in order to forge a strong working relationship. Here are some tips on how to work best with your agent.

uring the course of your home search, your buyer agent is your best asset for helping you navigate through the Dinventory of properties that you might be seeing. After all, you might not have done much home-shopping, but your agent looks at houses almost every day, and can often pick out positives and negatives that you might not have noticed.

Keep these guidelines in mind when working with your buyer agent:

First, communicate regularly with your agent. You and your agent should set up a communication plan when you first start working together. That plan is up to you – how often do you want to talk, how often do you want to get emails from your agent, how regularly do you want to go out to look at properties, etc. Talk it out with your agent. It’s her job to serve your needs the way you want to be served, so be clear about what you want from properties coming on the market, or let you know about open her. Most importantly, though, find some way to stay in regular houses that you might want to visit on your own. But once you’re contact with your agent through the home buying process, even serious about your home search, don’t feel inhibited about calling if it’s just a text message once in a while to update her (or her your agent. You’re not being an imposition if you need your agent updating you) on the status of your home search. to spend a day showing you homes. That’s your agent’s job.

Second, be honest about what you like and don’t like. As Fourth, keep your agent in touch with anything you do on your agent works with you, she will get to know your preferences, your own. Over the course of your home search, you might even things that you don’t yourself identify as being important find yourself doing some work on your own in addition to all to you. Maybe she’ll notice that you seem to like homes with an the appointment showings with your agent. You’ll probably be open floorplan, even though you originally said that you instead saving properties online on RandRealty.com, which is how most like traditional room layouts with more privacy. Every time you of our clients get their first look at the home they ultimately buy. see a house with your agent, she learns something about you. So Buyers also sometimes do drive-bys of properties that they see you need to be honest. If you don’t like the house, tell your agent listed online, just to get a look at the property and maybe check why. Don’t feel you need to spare his or her feelings by holding out the neighborhood. And many of our clients also go to open back – if the agent missed the mark in selecting properties houses, when sellers open the property to the public, usually on to show you, be honest about it. She’s not going to take it Sunday afternoons. personally. After all – that’s her job. These three other types of “showings” are all good ways for you Third, don’t be reluctant to ask your agent for help. to get engaged in your home buying process, particularly at the Remember that your agent makes his or her living by helping beginning when you might be reluctant to go out with an agent. you buy a home. Sometimes, buyers feel reluctant to call their But just remember that looking on your own is really only a agent to take them out, because they’re early in the buying supplement for the work that you’ll do with your agent. Looking process and they don’t want to “waste” their agent’s time. But at the property online or doing a drive-by is no substitute for it’s your agent’s job to help you in the home-buying process, actually visiting the home in person accompanied by an agent and agents will often work with buyers for months and months who will be able to provide a professional perspective when before the buyer finds the right home. If you’re really just “sight- making your evaluation. And while open houses also involve seeing,” or in such an early stage of your process that you don’t personal visits, you’ll find it’s much more efficient and effective feel comfortable going out with your agent, then work on your to set your own appointments rather than being limited to Sunday own and just use your agent as a resource for information. For afternoon visits of whatever properties happen to be open that example, she could set you up with automatic alerts for new weekend. Buyer Orientation Guide | search | Chapter 2.3

Preparing, Pricing, and Presenting an Offer

Presenting offers is part art, part science. The science part is the analysis you and your agent will do to examine recent comparable sales, the overall market conditions, and the perceived attitudes of the seller to determine the correct offering price. The art is how you present it, and whether you give yourself the best possible chance of getting your offer accepted.

ltimately, the goal of shopping is buying. And at some But sometimes, you might find that the seller has “personal point during your home search process, you’re going to property” that is not legally affixed, but is so perfectly situated Ufind something that you’re interested in buying. You’ll be to the home that you want to buy it along with the property. The interested in the first showing, go back for a second look, and, if legal default position is that only fixtures stay with the home, so you’re like many of our buyers, return a few more times “just to make you’ll need to identify any personal property that you want to buy sure.” At the end, though, if this is the home you want to buy, you as part of your purchase price. need to start the transactional process by making an offer. • Mortgage Contingency. When you prepare your offer, you’ll When you make your offer, you will set out basic terms upon which have to consider whether you want to demand a mortgage you are willing to purchase the home. If you and the seller come contingency, which allows you to terminate the contract without to agreement on those terms, the agents will send the offer to the penalty if you are unable to get a mortgage after a good faith attorneys for purposes of drafting a contract. At this point in the effort. You will probably want the reassurance of a mortgage process, you’re not legally bound to the terms of your offer, but contingency, but that might be something that the seller will obviously you should only present an offer that you are willing to resist. commit to in good faith. • Inspection Contingency. Sometimes, the offer sheet will Preparing the Offer explicitly state that the offer is subject to inspection, but it’s not From a procedural standpoint, the initial offer in a negotiation is absolutely necessary because inspections are usually completed usually prepared on a form provided by your agent. You will fill before contract anyway. out the terms of the offer with your agent, and your agent will then send it to the seller’s agent for review. After that initial offer, most • Other Contingencies. You might have particular needs that of the follow-up counter-offers are done over the phone or email should be addressed as conditions, such as the need to sell your between the agents, until ultimately you reach an agreement that is home before you close on your purchase. It’s generally not a memorialized in a final term sheet that the agents will send to the good idea to spring unusual requests in the contract, so if you attorneys to advise them in preparation of the contracts. have anything you need that’s out of the ordinary, make sure you discuss with your agent whether you should present it as part of Here are the main terms that will comprise your offer to purchase, the offer. what we think of as the “material” terms of the deal that will be subject to some degree of negotiation between the agents: Of course, your offer might contain other terms that we haven’t addressed, but generally speaking those are the main issues that get • Purchase Price. This is obviously the most important term – the presented as part of the offer. most important for you, and the most important for the seller. We’ll discuss pricing your offer in more depth below. Why do buyers sign offers? • Down Payment. The down payment is the amount that you will deposit when you sign contracts – NOT when you make the offer If an offer is not legally binding, then why do they have – as a show of good faith commitment to purchase the home. signature lines? In fact, you do not need to sign them, Down payments are generally between 5%-10% of the purchase and the only reason to do so is to show good faith and to price. demonstrate that you approved the terms of the offer. But even if you sign them, the offers are not legally binding. You • Closing Date. The estimated closing date is really just an might get confused at this point, the form might SAY that it estimate. You’re not bound by the closing date even in the is a contract, but you’ll notice that even those “contract” contract, so most agents just set a projected date three or so forms are automatically conditioned on approval from months for the future – which is the average time it takes to get your attorneys. So until your attorney approves the terms from contract to closing. of the deal, you’re not legally bound to your offer. If you’re still concerned about the issue, then just don’t sign the • Personal Property. When you buy a home, you buy all the offer. Your agent will still present it. fixtures in the home – everything that is attached to the property. Buyer Orientation Guide | search | Chapter 2.3

Pricing the Offer taken seriously, should be about 5%-15% off the current listing price. Obviously, the most important term of your offer is the price that you That’s obviously a very wide range, but that’s the point – it’s just a are will to pay to purchase the home. All the other issues – down general guideline to help you stay in the “sweet spot” between over- payment, closing dates, contingencies – are generally minor areas of bidding and low-balling. The actual offer you make will depend on negotiability. In most cases, the main issue is price. your particular situation: what comparable homes are selling for, the current state of the market, and the history of that individual listed Ultimately, of course, your pricing strategy depends on what that property. home is worth to you. You’ve already gone through the process of determining how much you can afford, and used that information Our advice is simple: do some research, think about what’s going on in identifying your price range and choosing the homes that you in the market, and set your price accordingly. Your agent is the best evaluated with your agent. You’ve been watching the market, and resource for helping you craft your initial offer to the sellers, but here at this point you should have a pretty good idea of what homes are are some general guidelines to keep in mind: selling for. The question now becomes, “what are you willing to pay to own this home?” And if you can afford that price, then that First, set your initial offer based on sale prices of comparable becomes your target goal for your negotiation. homes. Your agent can provide you with information on recent sales in the local area, or even the neighborhood. That’s the data you As a general strategy for reaching that goal, you want to think about want in setting the initial price for the home, particularly in situations your initial price offer as an invitation to negotiate with the seller. You where the seller might have set an unrealistic listing price for the don’t want the offer to be too low, because you could insult the seller home. Don’t get caught in the trap of locking in on “active listings” and poison the negotiating process. And you don’t want the offer to prices, because “active” listings all have one thing in common: they be too high, or you might end up paying more than you have to . It’s haven’t sold! It’s the sold properties that give you a better read of like Goldilocks and the three bears – you don’t want your offer to be what’s happening in the market. Moreover, your agent can use that too cold or too hot, you want it to be “just right”: sold data to justify the offer: “we know that the seller has set a more aggressive listing price, but here are some recent comps that are Similarly, you should never make an initial offer that is the most totally in line with the offer we are making.” you’re willing to pay for that home. Some buyers do that in an attempt to Just remember that when you’re short-circuit negotiations, and in some Beware of Online Valuations! looking at sold data, you’re getting cases to convey that they are serious information about closed sales, which When you’re deciding how to price your offer, buyers: “here is our best price, but reflects the state of the market from a you might be tempted to look at online home that’s as high as we can go.” Don’t few months ago. That is, those closed valuations provided by sites like Zillow. Be do that. Very few sellers accept an sales were put into contract months careful. Studies show that the “zestimate” initial offer, and from a psychological earlier, and then spent time going is a markedly inaccurate tool for valuing an standpoint they need to comfort of through the transactional process individual home. Too many sellers insist on engaging in at least some negotiation to get to the closing table. So if the pricing their home according to the zestimate, on the price of their home. So set market is very active, some of the sold and they languish on the market for months, that initial offer in a way that you data might already be out-of-date. if not years. And too many buyers insist on have a little wiggle room, so that you Unfortunately, the sale price of homes pricing their offers according to the zestimate, can accept, or counter, the seller’s that are “under contract,” which are and they never get those offers accepted. You counter-offer. more recent comps, are not publicly can get all the data you need to price your available, even to your agent, so you home from your agent, you don’t need blunt Here’s one rule of thumb to keep in don’t have access to that data. online tools like Zillow. mind: most deals close within three or four rounds of negotiating. That It’s also important to remember that is, (1) a buyer presents an initial offer, not all homes are easy to compare (2) the seller counters, and (3) the buyer either meets the counter to recent sales. Particularly in high end markets, you’re not likely to or (4) presents a new offer that the seller accepts. Most successful find a lot of recent sales at the same price point in the same area, so deals come together in a matter of days, if not hours, so prepare your comparable sales data will not be as helpful. negotiating strategy accordingly. Second, be mindful of the current negotiability in the market. If So with that general strategy in mind, how do you determine what you have been reading the Rand Quarterly Market Report, or getting price to offer? The basic rule of thumb is that an initial offer, to be market reports from your agent, you know that we consistently Buyer Orientation Guide | search | Chapter 2.3

measure the “listing discount” that sellers are giving to buyers Presenting the offer. off the last listed price for the home. In the past few years, the Once you have finalized your offer terms, your agent will present regional listing discount has hovered at the 5%-7% mark, which from the offer to the seller. For the most part, this is a fairly mechanical a historical perspective is highly negotiable. But that’s a regional process: the agent emails or faxes the offer to the seller’s agent, number, so the negotiability might be different in your particular the seller’s agent presents it to the buyer, and then communicates town or village or at your particular price point. So the more local, the seller’s response back to your agent. It’s pretty straightforward. and more recent, the negotiability information you have, the better. But there are some circumstances in which you might consider Indeed, pay particular attention to the negotiability of those recent supplementing the offer with additional supporting documentation: sales. If you see that homes are selling for very close to the asking price, you’ll want to adjust your initial offer accordingly. • Comp information. If your offer is significantly below the asking price, your agent might submit a list of comparable sold Moreover, we should caution you that as a market heats up, you can properties that you both believe justifies the price you’ve offered. expect negotiability to fall significantly. As buyer demand increases, Now, the seller might disagree with your selection of comps, sellers become far less negotiable on price. The average listing but at least you’ve given the seller something to think about and discount during the last seller’s market was closer to 1%-2% of the justified your offer – which might soften the blow of an offer that last listed price, and multiple bid situations became very common, is disappointingly below ask. pitting buyers against each other and driving many sales to above the asking price. • Financial Documentation. Sellers will take you more seriously if you provide some form of financial documentation with your offer Third, keep in mind the current status of the listing. Your agent – even if it’s just a preapproval letter from a reputable lender. can give you the history of the listing, which can be important in Realize that the seller takes a risk in accepting an offer from a helping you formulate your initial offer. For example, you’ll want marginally qualified buyer, because the time spent waiting for that to know how long the house has been on the market. The longer buyer to unsuccessfully get a mortgage is time that the seller was the home has been for sale, the more likely the seller will be to not actively on the market. reasonably negotiate on price. Similarly, you’ll want to know whether the seller has recently reduced the price. That’s important for two • Personal Letter. In situations where you know other buyers reason: first, because sellers are going to be less negotiable on price are interested in the property, a personal letter can sometimes if they just made an overall reduction; and second, because homes humanize your situation and forge a relationship between you and that have recently been reduced in price tend to generate more buyer the seller. This was a common practice during seller’s market for interest, which means you could be more likely to get into a bidding buyers to make a personal appeal to sellers to accept their offer, war that would dramatically reduce negotiability. stressing things like how much they love the home and are eager to raise their family in it. Most sellers will make a decision based Caveat: Multiple Bid Situations entirely on price, but you’d be surprised how often they will agree As the housing market heats up, you might find yourself in a multiple to an offer based partly on their impressions of the buyer. These bid situation – where a seller gets offers from more than one buyer, letters can sometimes be effective. negotiates with all buyers simultaneously, and ultimately requests that the interested parties submit their “highest and best” offers to Generally, you should not expect any seller to accept your initial offer. close all discussions. If you’re in that situation, you’ll need to consult Simply out of reflex, sellers will usually make a counter-offer instead. with your agent about how to prepare your offer, which requires you At that point, you and your agent will have to negotiate the sale. not just to consider all the variables about the market and the listing, but also what other buyers might be willing to pay for that property. Conclusion Finally, remember that you are not legally bound by any of the terms Procedurally, what you’ll do is present your highest and best offer in your offer until you execute formal contracts of sale with your along with the other buyers, the sellers will then compare them, and attorney. Even if you sign the offer, your agreement is conditioned then come to an agreement with whichever offer they prefer. upon attorney approval, so you are not obligated to buy that home A multiple bid situation can be very stressful, so as the market heats until you execute that contract of sale. This is a double-edged sword, up we strongly advise you to move from accepted offer to contract as because it also means that the sellers are not bound to sell you the soon as possible. home until THEY sign a contract of sale. That’s why we encourage you to move quickly once you have an accepted offer, so that you don’t give time for other buyers to jump in and make a higher offer. Buyer Orientation Guide | search | Chapter 2.4

Ten Tips for Negotiating Offers

A good negotiation strategy can save you thousands of dollars in your home purchase. Although buyers and sellers need to work together in good faith, it’s always better if you’re in control of the terms of your negotiation. Here are some tips on how to take a strong negotiating stance.

ontrary to popular belief, negotiation is not about winning “anchoring,” because the initial asking price becomes a reference and losing. You don’t “win” a negotiation at the expense of point that can “anchor” the rest of the negotiation. In real estate C the other side. Indeed, a good negotiated resolution always sales, though, the anchor is already set before you ever step foot in has two winners by definition, because both sides must have gotten the home – by the asking price. So you are already dealing with an what they wanted or they would not have settled. Now, that doesn’t “anchored price” on that MLS sheet or online listing. The key is to mean that both sides got everything they wanted, or that either side forget the asking price, to dismiss it from your thoughts. Instead, sit got all it wanted, but it does mean that both parties found the terms down with your agent to go through recent sales to see what prices of the agreement acceptable. homes have actually sold for. Once you figure that out, build an offer based on those prices, without even referencing the listing price. Try Remember that when you negotiate. The seller is not your enemy, but to create a new anchor through the sold listings that your agent can rather a partner in trying to solve the problem of both of you wanting track down for you. to transact the property on the most favorable terms possible. Buyers want to pay as little as they can, and sellers want them to 2. Never convey an eagerness to buy. pay as much as they can. It’s definitely a problem, and good faith Never let a seller or a seller’s agent know that you are anxious to negotiation is the solution. buy, or that you are anxious to buy that particular home. You should always avoid discussing specifics with a seller or a seller’s agent, Moreover, when you’re negotiating the purchase of a home, you because if you happened to let slip that you were under any pressure need to keep your eye on the goal. The question you have to ask is, to buy you would be undermining the firmness of your commitment “How badly do I want this home?” If this is truly the right place for to your offering price. Meanwhile, pay careful attention to any signals you, don’t get too caught up in trying to squeeze nickels out of the that the sellers give off betraying their eagerness to sell. They might seller. Remember that if you’re financing the home, a purchase price communicate that nonverbally just in the way that they answer the difference of $10,000-$20,000 is not going to make or break you. door when you visit for a showing, or through their agent with an For example, consider that at a 4% interest rate, a $10,000 difference eagerness to hear your offer. Or they might do it even more blatantly in the sale price is less than $50 a month – less than your monthly with terms in the listing description like “bring best offer” or “owner mobile phone bill. So deliberating over the difference between an anxious.” Pay careful attention to these cues, and avoid giving them offer requiring you to finance $490,000 or $500,000 means that off yourself. you’re anguishing over the difference between a monthly payment of $2,339 and $2,387. Will you really notice that difference? While you 3. Provide justifications for your price through your agent. always want to get the best deal possible, risking losing your dream Anchors become more powerful if you provide reasonable and house over such a negligible difference in your monthly payments objective justification for them. When you set your initial offer, have can be foolish. your agent provide the seller with reasonably comparable sales that justify the price you’ve set. You can firmly set that pricing anchor by Obviously, a full discussion of the art of negotiating on the sale of a putting the seller in a position of having to argue away the fact that home would be well beyond what we could cover in this Orientation comparable homes have sold for close to your offered price. Guide. At Better Homes and Gardens Rand Realty, we have training courses dedicated to the study of negotiation. We don’t teach “game- 4. Get commitments from sellers. playing”, but we do believe that a good negotiator can get the best Psychologists have also noted the power of verbal and written possible result for a client by maintaining the upper hand, controlling commitments during negotiations. If a buyer can get a seller to make the terms of the negotiation. And as you’ll see below, you should be even a verbal commitment to agree to a term of the negotiation, negotiating through your agent, so you will have good professional the seller will feel strongly compelled to abide by that commitment. representation as you try to make a deal. That’s why most of our agents demand that all offers and counter- offers be made in writing, not because the offers themselves are Nevertheless, we wanted to share some perspectives into the legally binding, but the act of writing them down (and in some cases negotiation process, and also give you some insight into the signing them) is psychologically binding. negotiation approach adopted by Better Homes and Gardens Rand: 5. Frame the negotiation as about more than just price. 1. Keep control of your anchored starting point. In any real estate sales transaction, the most important negotiated It’s always an ideal situation when you control the starting point of term is price. But it’s not necessarily the only term that can be at negotiations on the most important term. In psychology, they call this issue. In some cases, closing date is important. In others, it’s the Buyer Orientation Guide | search | Chapter 2.4

down payment. And in others, it could be with the other side or betraying anxiety that specifically to give themselves “wiggle room” whether the buyer will have a mortgage would undermine the bargaining position. In to negotiate. We don’t counsel clients to contingency, or the fixtures or furniture real estate negotiations, buyers and sellers give lowball opening offers – indeed, our included, or really anything that one side rarely discuss the terms directly with the advice is to find an offer that you can justify particularly wants. In most negotiations, other side, instead communicating through based on comparable sales. But if you make however, the parties don’t strongly negotiate their agents. One of the most powerful ways a reasonable offer, only to have the seller the other terms, because their sole focus is to control the process is to work through make an incremental counter-offer, don’t price. Accordingly, a good way to control the an intermediary (like your agent), keeping dismiss the counter out of hand. Make your frame of the negotiation is to put all the other the ultimate decision-maker away from own counter-offer, and see what happens. terms in play (closing date, down payment, the negotiating table. That way, your agent contingencies, fixtures, furniture). If you are can always use the justification that he or 10. Remember that you don’t have to flexible on all those terms, but the other side she does not have the authority to make actually buy the house. is not, you now have something to bargain concessions, giving you both time to discuss Some clients worry that in the heat of away to get a concession on price. strategy and avoid giving in under self- the moment they will make concessions imposed pressures. that they will ultimately regret, and find 6. Avoid making concessions themselves experiencing buyer’s remorse. without getting a reciprocal 8. Be likeable to sellers. Remember, that you don’t make any concession. We always counsel clients to be friendly final legal commitments as part of the Ultimately, at some point in the negotiation, and agreeable with all sellers, including negotiation. You’re never fully committed you’re likely to have to make a concession. sellers that might be grossly overpriced. until after inspections, contract drafting, Very few buyers are fortunate enough Throughout your negotiation, you’ll want to contract review, and a host of other issues to get an acceptance on their first offer. maintain good relations with sellers, even if that could delay final signing. So you never But if you are to make a concession, you ultimately cannot reach an agreement. have to risk getting carried away by anxiety try to avoid making the concession in a We have seen many potential deals fall apart or pressure. vacuum – condition your concession on simply because the parties treat each other the seller giving way on some other point. badly, insulting each other, ignoring offers, Conclusion: Stay Calm Generally, if you do someone a favor, that delaying out of spite, and other unhelpful Most people are not familiar or comfortable person feels obligated to return the favor, tactics. Sellers want to like the person with negotiations, because most of us do even if their “reciprocation” of the favor is buying their home, so be likeable. it so rarely in our professional or personal disproportionate to what you did for them. lives. Culturally, we don’t negotiate much If you’ve been successful in putting multiple 9. Be open to all counters. compared to people in many other areas terms at play, you can even concede on Generally, in real estate, we always welcome of the world – for example, we don’t haggle a minor point in return for flexibility on offers – and counter-offers -- of any kind at supermarkets or department stores. So something you actually care a lot about. because it gets discussions going on a path it’s not unusual for clients to become a little in which anything can happen. Everyone in anxious about the prospect of negotiating 7. Always negotiate through your the business has seen sellers initially dismiss something as important as a sale. Don’t agent. an offer as “outrageous,” only to ultimately worry. You have a lot of professionals Negotiating through intermediaries is always find an agreeable middle ground through watching out for you, starting with your a good strategy, if only because it keeps the a long process of good faith negotiation. Better Homes and Gardens Rand Realty client from developing or generating ill-will Sellers sometimes set very high prices agent. Stage Three: The Transaction

In Stage Three, your agent will guide you from your initial offer through your final closing, managing your transactional process. In the Guide, you’ll learn about all the different parts of the transaction, and how to avoid delays that would keep you from closing on time. You’ll also get advice about what to expect in your closing, and how to ensure a smooth moving process.

www.RandRealty.com Buyer Orientation Guide | Transaction | Chapter 3

The Transactional Process

OFFER AND INSPECTION CONTRACTS ACCEPTANCE • Buyer’s inspection • The seller’s attorney drafts • Parties reach an accepted engineer inspects the a contract. offer. property. • The buyer’s attorney • Buyer and seller agents reviews the contract. negotiate any changes • Seller and buyer sign the from inspection. contract.

MORTGAGE TITLE INSURANCE • Buyer completes mortgage • Buyer orders title report • Buyer application. from title abstract company. orders home insurance • Lender submits • Abstract company delivers mortgage application for title report to buyer from underwriting. attorney. insurance company. • Buyer resolves mortgage • Buyer attorney reviews title conditions with Lender. with buyer. • Buyer gets • Lender approves loan as • Abstract company issues of the policy. “clear to close.” title insurance policy. confirmation

CLOSING • Attorneys schedule closing. • Buyer conducts walkthrough. • Parties close. Buyer Orientation Guide | Transaction | Chapter 3.1

The Transactional Process

Now that you’re at the transactional stage of the home buying process, you’re going to start having to work more intensely not just with your agent, but with all the members of your deal team. In this section, we discuss everything you need to know about the transactional process, and about how you can ensure the best possible experience in getting from accepted offer to closing.

nce you have reached an accepted usually fairly standard form contracts that take several weeks or even months to go offer with the seller, the real work the attorneys are used to working with. The from application to “clear to close” from the O of putting together your transaction seller’s attorney sends the contract, and lender. begins. This is when you’ll start interacting your attorney reviews it and sends back with your whole “team” of real estate comments or revisions, or even a “rider” Title insurance. Once the contract is done, professionals: your inspection engineer, adding terms to protect you. The attorneys your attorney (or you) will order a title search attorney, mortgage loan officer, title then negotiate the legal terms, which are from your abstract company to check for representative, insurance salesperson, and usually fairly straightforward. The only clear title, building violations, and identify the everyone else charged with helping you put complications come from unusual situations: correct taxes. Once the report is done, your your transaction together. where sellers want to keep certain fixtures attorney will examine it to determine whether that would normally be sold with the house, there are issues that have to be resolved by Indeed, the biggest challenge you’ll face setting out projected closing dates, etc. the seller. If all the problems are cleared, the during the transactional process is keeping Contracts are usually finalized within two abstract company will issue “title insurance” all your balls aloft in the air. You’ll have a lot weeks of the accepted offer. to protect you against claims against your to do personally, and you and your agent will ownership of the property. Title reports are have her hands full coordinating the rest of Mortgage. Once you’ve reached offer- usually issued within two or three weeks of the team to ensure that you’re moving closer and acceptance, and the attorneys are ordering, so they usually come a few weeks to the closing table. exchanging drafts of the contracts, you’re after contracts are completed. If there going to start working in earnest on your are problems on the title, those could take In this section of the Guide, we’ll provide mortgage application. This can be a very weeks or months to resolve. an overview of the transactional process, difficult, time-consuming, and burdensome give you some idea of how long the process process, particularly these days where banks Home Insurance. At some point during takes, and then discuss some common are ultra-careful about extending financing. this process, you’re going to need to order transactional problems and how you can You will need to gather a tremendous property and casualty insurance on your avoid or fix them. amount of documentation and submit it to new home. Many buyers forget to do this, the lender, who will then have to review it but your lender will require home insurance An Overview of the to determine whether it meets underwriting before finalizing your loan at the closing, Transactional Process guidelines. This is usually the lengthiest because the lender wants to make sure Here is a basic overview of the part of the transactional process, because that its loan to you is protected if, say, the transactional process, more or less in the it takes time to coordinate the back-and- house burns down while everyone is at order in which everything happens: forth of documents with your lender. It might the closing. It doesn’t take long to secure

Inspection. Once you have an accepted offer, you will hire a licensed inspection Buying a Short Sale engineer to go through the house to do an inspection, checking all mechanical The most common source of delays in real estate transactions in the last few systems such as the foundation, the roof, years is the increasingly common situation created by “short sales.” Short sales the electrical system, the air-conditioning are transactions involving owners who are selling their home for less than what and heating, etc. This inspection is usually they owe the bank for their mortgage loan. In these cases, an offer has to be completed within a few days of the offer accepted not only by the seller, but ultimately by the bank, which has to “approve” being made, and you’ll review it with your the short sale in order for the deal to go forward. Unfortunately, short sales can agent before contracts are ordered so that really slow down your transactional process. Not only does the seller need to issues can be resolved with the seller before complete a very lengthy set of documents to request bank approval for the sale, any final commitments are made. but banks vary as to how quickly they respond to those requests. The good news is that as short sales have become more common, banks have become better at Contracts. In our area of the state, a giving prompt approvals to the sale. But be advised that if you are purchasing a seller’s attorney will prepare a contract and short sale, you might find it takes longer than you expect. send it to the buyer’s attorney. These are Buyer Orientation Guide | Transaction | Chapter 3.1

home insurance, usually a few calls to your the ones that keep real estate agents up the client service experience you’re going insurance agent and filling out some forms, at night and make both buyers and sellers to have. But whatever you do, hire a local and it’s usually done in a matter of days, if crazy, with everyone wondering “is this deal mortgage loan officer, and use a reputable not hours. EVER going to close?” lender.

Closing. Once everything has come There’s no way to ensure that you’ll have one together – the mortgage is clear to close, of those easy, clean transactions. Anything CORE Client Contact the title report has been cleared of any can happen during a deal, and many of from Hudson United problems, and the home insurance policy is the problems that clog up the works are all prepared -- the attorneys will schedule unforeseeable and unpreventable even by One of the advantages to working a closing. If everything is ready to go, the the savviest of buyers and ablest of real with the Hudson United home only problem with scheduling the closing is estate professionals. But we would suggest service companies for your finding a date when everyone is available: a few things that you could do to at least mortgage, title, and insurance you, your attorney, the seller, the seller’s improve your chances of a clean deal: needs is the CORE Client Contact attorney, a bank attorney, a closer for the program that immediately notifies title company, and anyone else who is First, only hire local professionals you via email whenever we complete needed at the closing. for your legal, mortgage, title, and a major step in your transactional insurance needs. Early in this Orientation process. Rather than wondering Avoiding Delays in Your Guide, we advised you to hire experienced, what’s going on with your deal, Transaction local professionals to be part of your you’ll get an email alert when your All told, a reasonable estimation is that “transactional team.” This is the point at mortgage application is sent to it generally takes two to three months to which they can make a real difference. the underwriter, or when your title go from offer-and-acceptance to closing, Local real estate attorneys are familiar report has been completed. It’s a mainly because it takes time to get with the standard form contracts used for great way to stay on top of your through the mortgage and title process. transactions in your area. They know whom transaction. The worst-case scenario is that you find to call at the county clerks office to clear problems on the title report, or if your up problems in your title. They are likely to lender has major issues with your loan already have a working relationship with the Ultimately, the choice is up to you. But it’s application, which can cause months of local attorney on the other side of the deal, been our experience that when we have a delays. On the other hand, in the best- if the seller has also hired local talent, which real problem deal, and we investigate the case scenario, when you have a “clean” can dramatically accelerate the formation source of the delays, we invariably find that deal and all the professionals on your of the contract and the resolution of any the trouble was created by an inexperienced transactional team are working quickly, disputes that crop up afterward. Lawyers or out-of-market transactional professional. you can get cleared to close in less than a who work outside the area, or who don’t Be careful about who you put on your team. month. normally do real estate, will invariably cause delays in your deal. Second, be engaged, proactive, and Every transaction is different. Some move responsive. As we’ve discussed throughout smoothly from accepted offer to closing, Similarly, don’t hire a lender who is from this Orientation Guide, you’ll have the best with all the moving parts of the deal working outside the area, or one who promoted some home buying experience if you are engaged together beautifully: the contract gets done ridiculously low rate online, just because throughout the process. You have a real quickly, your mortgage sails through, the title you think you’re going to save a few dollars. estate agent who will be working hard report doesn’t turn up any problems, and You’re not. Mortgage rates are not locked coordinating all the moving parts of the deal, you’re ready to lose in a matter of weeks. until very late in your transactional process, but at this stage of the process, you’re the Everyone loves doing these types of “clean” so those promises are easily (and legally) only one who can do some of the work that deals. rescinded once it’s too late for you to make needs to be done. a change – or when a change is going to Other transactions take a different path to push your closing back for weeks or months! • Be engaged. As always, you need to be closing. The attorneys spend weeks haggling That’s why you should hire someone local, engaged in the process. Don’t sit back over contractual details. Your mortgage and experienced, and trustworthy to handle and assume that all the players on your gets bogged down in underwriting, with you loan. We recommend, of course, the transactional team are going to get the constant requests for new and updated professionals at our affiliation Hudson United job done. You’ll feel much better about documentation. The title or municipal report Mortgage, because we believe that you can the process, and far more in control, if turns up a problem that takes weeks for the trust a mortgage loan officer who is under you stay active, involved, and in touch seller to clear. These are the problem deals, our supervision, and is accountable to us for with what’s happening with your deal. Buyer Orientation Guide | Transaction | Chapter 3.1

• Be proactive. Try to prepare in Nigerian princes needing a loan. You have a the cornerstone of the Client-Oriented advance, and anticipate what you’re lot of stuff to keep track of, so try to keep it Real Estate (“CORE”) philosophy that going to need to do throughout all organized. Here are some tips for keeping we follow at Better Homes and Gardens the process. Basically, ask all your your transaction in order: Rand Realty. Project plans are really transaction professionals this question, just collections of checklists of “to do” “what might come up that would slow • Keep a transaction folder for all items that we codify in order to ensure this transaction down, and how can I your documents. Keep all your deal an attention to detail and consistency of prepare for it?” documents together: all your mortgage execution. You can do the same thing forms and follow-up documentation, your for your deal. Keep a master “to do” list • Be responsive. The most common real estate contract, and anything else of everything that has to be done for source of transactional delays come from that you get relating to the transaction. your transaction, not just by you but by the mortgage end, which often results If you are tech-savvy, you might even everyone on your transactional team. from buyers who are not immediately consider scanning everything you get That will help you focus on what needs to responsive to follow-up document related to the deal, and keeping it on your get done, and give you a better chance of requests from their lender’s underwriter. computer so you can access it easily and actually doing it in a timely fashion. If you want your deal to move quickly, send it around if someone else needs it then immediately respond when you later in the process. Staying organized is not only great for get requests for information from your helping you get things done, but it also lender, your attorney, or any of the other • Create a separate email folder. Any makes you feel more in control of the whole professionals involved in your deal. modern email system allows you to process, which will make you feel better. The create folders where you can dump any happiest clients we have are the ones who At this point in the process, an engaged, email that relates to your transaction. feel like they know what’s going on, and are proactive, and responsive buyer (or Some even allow you to set up “smart in control of their own deal. seller) can really move a deal forward, folders” that will divert all incoming particularly when you’re working with a email from particular senders (like your Finally, take a deep breath and relax. No strong transactional team. This way, even if agent, your attorney, your loan processor, matter how engaged you are, regardless problems crop up, you’re in a good position etc.) into the folder. That’s a great way of how great all the members of your to try to resolve them quickly and avoid to keep all your deal email segregated, transactional team are, you’re almost unnecessary delays in your closing. so that you don’t have to hunt through certainly going to hit a snag in your deal. your overflowing general inbox to find Real estate transactions are tricky things, Third, keep everything organized. A real important transactional information. with a lot of moving parts, and delays can estate transaction generates enough paper come from anywhere. The key is to be as to wipe out a forest full of trees, enough • Keep a transactional project plan. prepared as possible for the problem, so that phone calls to burn through your monthly As you have probably figured out by now, the delay is minimal. And no matter what mobile phone plan, and more emails than we’re big on project plans, which are happens, try not to get too stressed out. Conclusion For more information about the mortgage, title, and insurance parts of your real estate transaction, and how about how to smartly avoid delays that could put off your closing, make sure you get the Hudson United Orientation Guide available from your real estate agent or Hudson United rep. The Hudson United Orientation Guide will explain everything you need to know about the mortgage application process, review the potential problems that can come up in your title report, and give you a complete overview of the home insurance choices you’ll be making. Buyer Orientation Guide | Transaction | Chapter 3.1

Issues That Can Delay Your Transaction

Problem Description Resolution

Contractual The attorneys cannot resolve a Continue to negotiate the issue, and hope that you can come to a Dispute contractual dispute. compromise. If not, you’ll have to walk away from the deal.

Your inspection turns up a costly If the problem is serious enough, you can still walk away from the Inspection mechanical, structural, or maintenance deal. Otherwise, you can either renegotiate the price or demand Problem problem in the home. that the seller fix the problem prior to closing.

If you have a mortgage contingency in your contract, you can claim it to terminate the deal. But if you still want to go forward, Mortgage Your lender turns down your application you’ll have to either revise your application or look for another Denial for a mortgage. lender. This will take a lot of time, and seriously delay your closing.

Your lender’s underwriter requires you If you want to keep mortgage conditions from delaying your Mortgage provide additional paperwork to satisfy closing, you’ll need to be immediately responsive to these Conditions conditions necessary to get you an requests from the lender. The longer you take, the more you will unconditional mortgage commitment. delay your closing.

Title The title report shows that the seller has It’s really up to the seller to resolve open liens, but it can take Defects: open liens on the property other than time for the seller and seller’s attorney to remove those liens and Open Liens the normal mortgage liens. clear the title so that you can move to closing.

If the difference is marginal, you’ll probably do nothing. But if the Incorrect The title report shows that the property difference is substantial, you can try to renegotiate the deal to Taxes taxes are higher than you expected. require the seller to subsidize part of the difference. This should not significantly delay your deal.

Again, resolving this issue is really up to the seller, who needs The title report reveals that the sellers Undisclosed to make an application to the bank to get approval for the short will be selling the property for less than Short Sale sale. That process can take time, so it will definitely delay your they owe on their mortgage loans. closing.

Municipal The abstract company’s municipal report The seller will have the obligation to clear up those issues before Violations shows violation issues. closing, but resolving these types of problems can take time.

Getting insurance coverage for your new home takes just a few Home You don’t have home insurance set up in hours, so this is unlikely to delay your closing. But it’s a good Insurance time for the closing. idea to get that insurance set up in advance so you’re not rushing delays at the last minute. Buyer Orientation Guide | Transaction | Chapter 3.2

Dealing with Home Inspection Problems

The home inspection takes place after you have an accepted offer, but before you sign contracts. Most likely, the inspection will turn up some issues, since inspections always do. If the inspection turns up serious issues, we recommend you have your attorney resolve any problems in the contract of sale.

fter you have an accepted offer, Here’s the first thing you should remember might need to be fixed, but you’d rather do you should absolutely require a when you get your inspection report: the work yourself – at which point you’re A home inspection before signing DON’T PANIC! Home inspectors ALWAYS going to want to deduct the projected costs contracts. In other parts of the country, find something wrong with the home. That of the repairs from the offer that you made. the home inspection takes place after doesn’t mean that there’s anything really Either way, your original offer was made contracts are signed, and the contracts seriously wrong. It’s just like how doctors on the assumption that the home didn’t contain a contingency allowing for rarely advise patients to get full body scans have any inspection problems, so you are cancelation if the report finds serious – because the scans always show some sort entitled to adjust that offer to reflect what problems. In our area, though, the buyers of abnormality that isn’t dangerous, but will you now know. And, again, at this point in do inspections before they commit to make the patient crazy with worry. Basically, the transaction you are not bound to buy the purchasing the home. an engineering report is a “CYA” document home, so you’re free to negotiate the price. designed to protect the inspector from Very few deals actually fall apart from claims that he missed something, and also Request remediation. Rather than reduce inspections, even though virtually every to prove that he actually did the inspection! your offer, you can request that the sellers inspection report identifies at least some So you’re going to get a report that sounds fix the problem at their own cost. The problems in the home. Some of the common scary but contains the kind of “defects” advantages of making the seller fix the problematic issues that home inspectors found in virtually every home. problem, rather than reducing your price and come across involve: doing it yourself, are that (1) you don’t run the That said, if the inspection does turn up risk of underestimating the cost of repairs • roof damage caused by old or damaged something serious enough to require when you do them after the closing, and (2) tiles or improper flashing; remediation, you’ll need to go over that the cost of those repairs gets rolled into the report in detail with your inspector, your purchase price, so you can finance it rather • undersized electrical wiring involving agent, and your attorney, and decide how than pay it out-of-pocket. insufficient electrical service, you want to handle the results. Your options aluminum wiring, improper grounding, at that point are as follows: But there are also disadvantages to asking and dangerous conditions, usually the seller to do the work. Specifically, you run resulting from inadequate “do-it- Walk away. If the problems are serious the risk that the seller will do a superficial, yourself” electrical maintenance; enough to undermine the value of the patchwork job that does not actually fix the home, then you probably don’t want to go problem. We’ve been involved in a number of • surface grading and drainage, which forward with the deal. That’s fine. So long transactions where the buyer discovered after can lead to cracked slabs and water as you’re not yet in contract, you’re not the closing that the sellers hired a “lowest- leakage into a basement; bound or committed to purchase the home. bid” contractor to do the work, saving money Remember, though, that you will be out- because they didn’t really care if the work • heating systems that are in need of of-pocket for your engineering inspection was done well – after all, they only needed replacement or repair; fee, because sellers have no obligation to the remedy the problem until the closing. compensate you for your costs. Generally, once you buy the home, it’s yours, • plumbing problems caused by faulty and unless the sellers commit actual fraud fixtures and waste lines, improperly Renegotiate the deal. If the problems in doing the work you don’t have recourse mounted hot water heaters, or are serious enough to affect the value against them after the closing. degrading piping materials; of the home, but not so serious that you want to walk away, you still might want to Thus, if you are going to have the seller do • lack of insulation from poor caulking reduce your offer in light of what you’ve the work, we would strongly recommend that of windows that causes water and air found. In some cases, the problem might you get a contractual right to review the bid, penetration; and be something you can live with (like a leaky the estimate, and the work before closing to hot water heater), but which nevertheless ensure that it meets with your satisfaction. • mold and mildew in wet areas of the reduces the value of the property compared If the problems are serious enough, you’ll home. to what you initially offered before you knew need to discuss securing those contractual about the issue. In other cases, the problem provisions with your attorney. Buyer Orientation Guide | Transaction | Chapter 3.3

What to Expect in Your Real Estate Contract

If you haven’t already hired your real estate attorney, you’ll need to do so once you have an accepted offer. Your attorney will review a draft of the real estate contract prepared by the seller’s attorney, negotiate legal terms, and guide you through to the closing.

ow it’s time to hire an attorney So consider that a good real estate attorney aspirational. If the contract states that to help you through the rest can be retained for a reasonable fee and the closing is to take place “on or about” N of the transactional process. more than make up for it when you get offers September 1, all that means is that the Strangely enough, most parts of the from a friend, family member, colleague, or parties are aiming in good faith for a closing country do not use attorneys in the real family attorney who is willing to do you a on that date. The closing date itself will estate transactional process. Instead, favor and represent you for your transaction. be set by the attorneys on a mutually real estate agents make offers on actual You may save a little money, but it can convenient date once the title report legal contracts that are approved by the ultimately cost you. You can get a list of is generated and the bank has made a local bar and get them signed by buyers experienced, well-regarded real estate mortgage commitment to fund your loan. and sellers. Attorneys do not generally attorneys from your agent. even take part in closings, which happen So what happens if one side is ready to close in an escrow office with all transactional Common Contractual Issues on September 1, and the other side is not? matters handled by a clerk. In our region, Most real estate contracts are common Usually, nothing. If the parties are working of course, real estate attorneys generally form contracts that go through small in good faith for a closing, the attorneys will handle the drafting and reviewing of real changes in the negotiation between the simply set a new date for the closing, which estate contracts, perhaps because the attorneys. The main material terms – will also be aspirational. But if, say, you are practice of real estate in New York is price, down payment, closing date – are ready to close and the seller is not, and you particularly complex. all negotiated, of course, but the standard and your attorney suspect the seller may protections given to buyers and sellers in be acting in bad faith to delay, your attorney Hiring an Attorney the transaction are fairly common in most can issue a demand for a closing within 30 Because of that complexity, we strongly real estate contract forms. Thus, you are days of the letter. If the seller does not close recommend that you hire an experienced likely to see the seller’s attorney make within the 30 days, it can give you ground real estate practitioner familiar with the small changes to a form contact, and your to terminate the contract and get back your local customs. Although any licensed attorney write what’s called a “rider” that deposit, or give rise to a claim for whatever attorney is legally competent to assist you supplements the main provisions. We damages you incur from the delay. Usually, in the purchase of your home, we have defer to the judgment of your attorney on that’s not necessary. seen time and again attorneys who are not contractual issues. experienced at real estate undermine a transaction or cost the buyer money at the Although we are not representing you as closing table. To give you an idea, one of legal counsel, we did want to highlight three the owners of Better Homes and Gardens common transactional issues that you should Rand Realty is an attorney and real estate understand about your real estate contract. broker, but does not handle his own real estate closings because he defers to the 1. Closing Dates expertise of lawyers who do that for a Closing dates in standard real estate living. contracts are not deadlines, they’re

Property Condition Disclosure Form Under New York State law, you are entitled to a Property Condition Disclosure Form completed by the seller disclosing any known defects in the home. The form is supposed to be provided to you before you sign contracts, and is usually sent to you along with the contract. In most cases, though, attorneys in our area have advised sellers not to fill out the form, and instead pay a statutory “fine” to you in the amount of $500. Ask your attorney about whether you’ll be getting a Property Condition Disclosure Form. Buyer Orientation Guide | Transaction | Chapter 3.3

Occasionally, contracts of sale will have what’s called a “time of the essence” EPA Lead Paint Disclosure provision that requires both sides to be ready to close as of the date in the contract. At some point during the finalization of your contract with the seller, you’ll get a In that case, failure to be ready to close copy of the EPA Lead Paint Disclosure form completed by the seller. Federal law could render the unprepared party in requires the seller to advise you of any known lead paint hazards for any homes default. A “time of the essence” clause is built before 1978, when the EPA banned the use of lead-based paint. When you very rare in residential transactions, simply get the form, you’ll be asked to initial it and send it back to the sellers for their because neither party want penalties records. If the seller discloses any known lead-based paint hazards, you should attached to the obligation to close on a discuss the matter with your attorney. particular date.

You should absolutely keep in mind, though, that closing dates in a contract to protect themselves if they cannot sell sales contract (hence, again, the need for are aspirational, so that you do not make their home. These types of contingencies an experienced real estate practitioner). plans to move until you are certain that the are rare, because most attorneys disfavor closing is going to happen. We see buyers them. Again, this is something you should Generally, a seller who wishes to keep any who have been severely inconvenienced by discuss with your attorney, but do not be of the fixtures in the home will make that a delayed closing, with their personal items surprised if the seller rejects any offer clear in the listing, which puts you on notice in storage while they live in a hotel waiting contingent on the sale of your current that certain items are not included in the for last-minute items to clear up. Talk to home. sale. Sometimes, the sellers or the sellers’ your attorney about whether the closing agent forgets to exclude those items in will happen on a particular date, and don’t Similarly, a seller might demand a the MLS listing, but they exclude them in make plans that could render you homeless contingency allowing the seller to delay the contract of sale. At that point, if the if the closing does not happen on time. closing, or not close at all, if the seller contract is not yet signed, you do not have cannot find a new home by the closing any legal rights to those fixtures, so you 2. Contingencies date. This is also relatively rare, and need to decide whether you want to bargain Sales contracts often have contingencies attorneys disfavor them because they give for them or demand that they be included that can allow one side or the other to void sellers too much flexibility in delaying a in the price you offered on the assumption the contract without any repercussions. closing just by asserting that they have that they were included. If the seller does You may think that the deal is final, but a not yet found the perfect new home. not discover the error, though, until after contingency in the contract, if properly Again, if this comes up, you can discuss it contracts are fully signed, you have the legal exercised, can undo the deal. The most with your attorney. right to them and any removal would entitle common contingency, of course, is the you to an offset of the price. mortgage contingency, which allows 3. Fixtures you to terminate a contract and retain It is very important that you discuss Most importantly, if there are any fixtures your deposit if you are turned down for a fixtures with your attorney. Fixtures are that you particularly desire in the home, or mortgage. Buyers getting financing usually pieces of personal property that are furnishings that you think might be fixtures demand to protect themselves against the attached to the real estate property, and want to make sure they are included, possibility of losing their down payment if such as light fixtures, appliances, window you should tell your agent when you make they are unable to get financing. In most treatments, and the like. Generally the offer. Don’t leave those issues up for cases, a mortgage contingency is not an speaking, you have the right to acquire all chance if you can avoid it. unreasonable request for the buyer to fixtures upon purchase of the property. make, but some sellers will not accept a You don’t have the right to any personal Conclusion conditional offer. property (i.e., the seller’s clothes, books, Most of the contracts used by our clients pictures hanging on a wall, etc.), but are standard form contracts, modified Other relatively common contingencies are you do have the right to anything semi- slightly for the particular circumstances “sale” contingencies, in which, for example, permanently attached to the real estate. of your transaction. Generally speaking, the buyer retains the right to terminate the Problems with fixtures come up more you won’t have much room for negotiation, contract without repercussions if the buyer often than you would think, often involving since the boilerplate legal terms are fairly is unable to sell her current home. This has very expensive light fixtures that the seller standardized. If you have other questions become a little more common in a slower never intended to include in the deal, but about your legal contract, talk with your market, because buyers want to be able which were not specifically excluded in the attorney. Buyer Orientation Guide | Transaction | Chapter 3.4

Understanding the Closing

The real estate closing can be confusing, but mostly it can be boring. The attorneys do all the work, and you will mostly sit around making small talk between long bouts of signing big documents. The seller has even less to do, so you might not even see the seller for most of the closing.

n the morning of or the day What happens at the closing is simply the The Buyer’s Financing before your closing, the buyer execution of various forms that give final Most of the time at the closing will Oand buyer agent will do a confirmation to the agreements made in be taken up by the buyer finalizing quick “walkthrough” of your property, the contract of sale between you and the agreements with the lender on the checking that the seller moved out seller, and the mortgage commitment mortgage terms. The lender will have a without damaging the home or taking any between you and the lender. series of complicated documents that the fixtures. They’ll also be checking out the buyer needs to understand and sign in mechanical systems – running the water, That said, closings can be confusing to order to obtain the loan necessary to buy flushing toilets, turning on lights, etc. – to the lay person, because attorneys use a the home, including the following: make sure everything is in working order. lot of jargon and shorthand in trying to facilitate a complicated process quickly • Truth in Lending Statement, which Most of the time, the walkthrough goes and efficiently. To give you an idea, here is federally required to disclose the smoothly, and you won’t have any issues is an overview of what happens at a actual financial terms of the loan. at closing. If you do find something wrong closing: during the walkthrough, the attorneys will • Itemization of Amount Financed, negotiate the issue and come to some sort The Participants which tallies up the actual cost of the of resolution. Barring outright cataclysmic In addition to the buyer, buyer’s attorney, financing. problems in the home, walkthrough issues seller, and seller’s attorney, there are are resolved for a few hundred dollars and two other significant participants at the • The Monthly Payment Letter, which almost never cause a closing delay or a closing: breaks down monthly payments into termination of the contract. principal, interest, taxes, and insurance. • The closer. The closer is usually Once your walkthrough is complete, employed or contracted by the title • The Note, which is the loan agreement you’re ready to close. When you’re company issuing title insurance for between the borrower and lender. getting ready to go to the closing, don’t the buyer, and will actually run the forget that you’ll need two very important closing as an intermediary between • The Mortgage, which is the lien put things. First, you’ll need your checkbook, the seller’s and buyer’s attorneys. on the home by the lender to provide because you’re going to have to write a The closer is also the person who will collateral to the Note. few checks to cover your closing costs, ultimately take your deed, your proof beyond the bank check you’ll be getting of ownership, to be recorded in the Once all that is completed, you are now in for the down payment. Second, you need county clerk’s office. a position to purchase the property from your driver’s license (or some legal form the seller. For most of this process, the of photo ID), because you’ll need proof • The bank attorney. The bank seller won’t have much to do. The seller of identity for the attorneys and the title attorney represents the lender in the did all her work months ago when she closer. Your attorney will let you know transaction, and is there basically prepared her home for sale. The closing is what else you’ll need. to make sure the loan documents where you are the main actor. are executed correctly. The buyer’s The basic dynamic of a closing is simple attorney sometimes is authorized to Transfer of Ownership and involves three parts: double as the bank attorney. Now, the attorneys will begin having the seller execute documents that will transfer 1. the buyer completing paperwork to Of course, the closing might involve ownership from the seller to the buyer. get financing from a lender, some other support personnel, chiefly These documents include: paralegals and other assistants. And the 2. the seller transferring ownership of real estate agents might show up in shows • The Settlement Statement (HUD-1), the property to the buyer, and of support and to keep you company, even which contains all the settlement though they don’t have any formal role in charges associated with the 3. the lender giving the seller a check. the closing itself. transaction. Buyer Orientation Guide | Transaction | Chapter 3.4

• The Deed, which is the actual hunched over calculators for much of this That’s to make sure that you are the document that transfers ownership process while they use standard formulas person legally allowed to transfer title. from the seller to the buyer. to figure out who owes what to whom. • Summary. The final document of the • Proration Agreements, which are simply • Receipts. Both parties might have to closing, listing all the documents that side-agreements to the contract that sign tax and utility receipts indicating executed and included as part of the prorate the housing costs (taxes, HOA awareness that certain costs have to closing. fees, utilities) according to the date of be paid by one side or the other. the closing. For example, if the seller When that’s done, you will get a copy of paid the property tax bill for the year • Name Affidavit. At some point, the all your documents, and the title closer three months ago, the buyer will be attorneys will ask you to provide will be rushing off to the county clerks’ reimbursing the seller for 75% of that bill, identification proving that you are who office to record your new deed (and the since the seller lived in the home for only you say you are, and ask you to sign mortgage on that deed). At that point, you 25% of the year. The attorneys will be a document attesting to your identity. are done, so congratulations are in order. Buyer Orientation Guide | Transaction | Chapter 3.5

Making Your Move

For most of us, moving is an unusual experience that can be stressful and difficult. It doesn’t need to be that way. Planning ahead, getting solid estimates, and engaging with your movers can give you a feeling of control over your move and provide you with a much better experience.

or most people, moving is like cookware, silverware, files, knick-knacks, movers just from the way they interact with getting your car repaired. You don’t things like that. That can be an onerous you, and get a chance to choose a mover Fdo it that often, you hate having job. The other option is to pay extra for the based on your gut feeling on who you would to do it, you don’t understand it very movers to do all that for you. People who like the most. That said, if you get a referral well, and you worry that you’re going have experienced that full service option from your agent for one mover, and you like to get overcharged. We all fear the evil will never go back to packing themselves, that mover, you shouldn’t feel the need to stereotype: movers who break things, because it is a glorious feeling to watch go interview two more just to feel like you’ve lose things, or give deliberately low the movers descend upon your home and done your due diligence. estimates before raising the price once quickly pack, seal, and label all your things. our belongings are all on the truck. It’s an easier way to move, but also a better Get a physical survey as part of one, because the movers are much, much your estimate. Those really are just stereotypes, and better at safely and quickly packing your The mover’s estimation process should your experience does not have to be like things than you are. Trust us, it’s worth the include a physical survey of all the things that. While predatory movers exist, most money. that you need to move, rather than simply reputable companies do a terrific job helping an over-the-phone or internet questionnaire. customers move massive amounts of heavy For those people who choose to pack for Professional movers have a good eye for and precious things across the region or the themselves, more and more find that a the requirements of a move, and most of us country, and they do it for a reasonable price. portable storage locker that can be placed do not. They will pick up on things that you Your agent has experience in recommending in on-site helps them to pack at a more won’t. In our experience, many problems movers, so trust in a referral to someone leisurely pace. These large portable storage between movers and customers stem from who has a sound track record. containers can be at your home for a number a customer’s unreasonably low estimation of of weeks and allow you to pack while you the amount of work that needs to be done, As with all things involved in buying your have time. They are later picked up and leading to an inaccurate estimate. Never home, being proactive and engaged can help moved to your new location on the day of hire movers that refuse to do an in-house you have a better experience. Accordingly, your move. survey and instead assure you that they can here are some tips for ensuring that you have give an accurate estimate over the phone or a great experience in moving: Interview up to three reputable internet. movers. Before the Move One of the reasons to get started early is so Do not pay a large deposit. Plan Ahead that you have time to interview up to three Very few reputable movers will charge Don’t wait until the last minute to start reputable movers to get estimates. Let a large deposit on a routine move. They hiring a mover, or you’ll end up not being the movers examine your things, get a full might charge a good faith down payment able to get scheduled in time, you might sense of the scale of the move, and give you to reserve their time, but nothing too have to pay more, and you’ll be doing an estimate. You can learn a lot about the substantial. Be wary of movers who want to everything in a rush. You can start planning your move as soon as you are in contract, or at the very latest as soon as you are clear to close with your lender. Beware of Some Movers You should steer clear of movers who: Do it yourself, or let the movers do it You basically have two options about the 1. Give you a lowball estimate well below other estimates. type of move you want. In the standard 2. Will not give you a physical examination but insist on doing it over the phone. option, you need to pack all the small items 3. Charge you a large non-refundable deposit. into boxes, seal them up, label them, and then have them ready for the movers. 4. Are not state or federally licensed. You don’t need to box big items, or carry 5. Will not give an estimate. the big items anywhere, but you need to pack up things like clothes, books, dishes, Buyer Orientation Guide | Transaction | Chapter 3.5

The Day of the Move charge you a large up-front payment or, even Shopping List worse, charge you for the move before they On your moving day, be have actually delivered your goods to your engaged with the movers. Here are some of the items you need to new location. buy in anticipation of your move, either Moving day can be difficult and for last minute clean-ups or packing: Consider Your Insurance Options stressful, but you will have a When you move, you have the right to get better experience if you fully o cardboard boxes of various size moving insurance. Insurance comes in three engage with the movers and o packing tape levels of protection: “Full Replacement,” stay on top of everything. Be which costs the most and guarantees the home when the movers arrive o dark magic markers for marking full repair or replacement of any goods lost with everything you need to boxes or broken; Assessed Value Coverage, which do already done, so you can otwine is based on the estimated cost of replacing focus on discussing delivery the assessed value of goods lost or stolen; arrangements. When the ocleaning products and “Alternative Level of Liability,” which moving out is complete, and o lots of paper towels, trash bags. only pays out liability at a standard rate of 60 you are ready for transport, o cents per pound. You will find that in most make sure the movers have paper cups, plates, forks cases it is worth getting “Full Replacement” a phone number to reach (you’ll need to eat) insurance, but it really depends on the you, and that you have their content, distance, and comfort level number in case you want to associated with your move. contact them.

Before you move, get rid of stuff Pack your personal items suitcase separately packed allows you you’re not going to want in the new separately and keep them to unpack the rest of your stuff without the home. segregated. pressure of, say, trying to find the box that Don’t pay to move things that you’re never Even with the best movers, and the best has your hair dryer. going to need or use again. Moving is a intentions, delays can happen. That’s why great opportunity to pare down your life, you need to make sure that you separately For truly valuable or irreplaceable eliminating items that you’ve been storing pack your personal items: changes of items, keep them with you. for years. Go over those items carefully. A clothes, medications, toiletries, etc. The Even if you have great and trustworthy lot of times, you boxed them up in your last easy way to do this is just to imagine that movers, you’re going to want to take certain move years ago “just in case” you needed you’re going on a three-day vacation or items along with you, or have them shipped them. The rule of thumb is that if they have business trip, and pack a suitcase with separately in fully insured packages with a spent more than four or five years boxed everything you’ll need in those three days shipping carrier. Personal mementos, cash, up without being needed, you’re not going just in case the movers have difficulty getting coins, jewelry, precious photographs, and to need them in your new place, either. So to your new home. Even if the move can be important papers should not be packed into donate them, hold a garage sale, or throw completed in one day, and you’re not worried a box and sent along with your clothes and them away. about that, having your “three-day vacation” books. Keep them separate. Buyer Orientation Guide | Transaction | Chapter 3.5

Once your goods arrive, let the movers do the moving. Let the movers do the work, you supervise. Make sure they get everything off the truck, and let them do the unpacking of the boxes A Moving Checklist while you tell them where everything should go. Many people seem to feel guilty of making these poor movers carry all that heavy stuff, Here is a short checklist of some easily- and they want to pitch in. Don’t pitch in. That’s not your job, that’s forgotten items you should make sure get their job, and they’re getting paid for it. What you need to do is your completed by the day of your move. job: supervise to make sure everything comes off the truck and the boxes are put in the correct rooms.  Fill out change of address forms with the Post Office Provide your crew with coffee, water, lunch, and a tip. This is not required, but it’s always a good idea to have bottled water  Send out “we’ve moved” messages to and coffee available for the movers when they arrive, and to offer to friends and family by email or mail. pick up pizza or a quick lunch while they’re working. It’s better for you to run out and buy them lunch than for them to take an hour off in  Change your address on social media the middle of the day. And providing water and coffee is just humane sites. for people who will spend hours lugging your things around. If you get good service, and want to tip the crew, the best guideline we can  Notify your doctors and any pharmacies. give you is about $10-$25 per person who was part of the crew for the whole day. As with all services like this, tips are not required but  Notify the DMV. appreciated.  Notify everyone’s job, school, or anyone Don’t move and close on the same day. else who sends important mail. Finally, one last piece of advice about moving: don’t move on the day that you close on the sale. A closing can be stressful event  Notify your credit card companies. that doesn’t happen very often, and moving is a stressful event that doesn’t happen very often. There’s no reason to do them both on  Notify your bank. the same day. You should plan for your move no earlier than a day or  so after the closing, so you can get one big stressful day behind you Notify any other service that bills you before you turn to the next one. regularly.  Start Utilities  Contact the Phone company about installing service  Start Newspaper delivery  Start Cable or satellite service. Buyer Orientation Guide | CLosing | Your Realtor for Life

Conclusion: Your Realtor for Life

At Better Homes and Gardens Rand Realty, we believe that our obligation to our clients extends beyond the closing. As part of our Client-Oriented Real Estate (CORE) program, we follow the philosophy that our clients need real estate related services even when they’re not buying or selling real estate. After all, your accountant is still your accountant, even though you probably only work with him or her once a year when you do your taxes. In that same way, we believe that our agents should continue to work with you, and our company should continue to provide you with services, even after your closing.

ow, you might be thinking, “what 2013–2014 But we’re not just going to wait until you

do I need a real estate agent for HUDSON VALLEY & NEW JERSEY reach out to us with something that you need. if I’m not buying or selling real Winter Events Guide Rather, at Better Homes and Gardens Rand N 2 014 estate?” Well, think of it this way – who Realty, we’ve created a series of

Better Homes and Gardens Rand Realty is delighted to present its annual Winter Events Guide, a listing of local community events throughout New would you call if you were in any of these Jersey and the Hudson Valley. The events are organized by region, and then by date, and we have also listed ongoing events in a separate section to programs to deliver services to you make it easier to find great ways to celebrate the season. This year we’ve also included a list of area ski resorts. For updated lists of events, go to Hudson Valley & New Jersey www.randrealty.com and look for our weekly events guide. Have a great holiday season!

situations? Westchester, Putnam December 6, 5PM, Scarsdale December 13, 5:30-7:30PM, Rye on an ongoing basis. For example, Scarsdale Chamber of Commerce Tree Lighting at Boniface Santa visits, drop by and say hello! Just enough time to give & Dutchess Circle. www.scarsdalechamber.org him your list for Christmas. Have your picture taken with Santa and make an ornament to take home. Refreshments will be December 6, 6PM, Yorktown served. Free. Rye YMCA, 21 Locust Avenue. 914.967.6363. December 1, 12–3PM, Rye Yorktown Tree Lighting. Location: John DeVito Park. www.ryeymca.org you’ve already seen that we’ve A family festival which takes place on Purchase Street in 914.245.4599. www.yorkcounty.gov Rye, NY. Santa, train rides, horse drawn carriage rides, December 14, 10AM–5PM, Poughkeepsie holiday crafts, musical performances, food, fun and more! December 6, 6:30PM, Hastings-on-Hudson Locust Grove Estate Holiday Tour. Expert guided tours www.ryechamberofcommerce.com Friday Night Live Lights up the Night. Tree Lighting at VFW make the holidays come alive as you tour theBetter mansion’s Homes 25 and Gardens Rand Re • You need a recommendation for a good Park. Holiday Show, life-size candy house, HastingsWESTCHESTER Friday decorated rooms | ROCKLANDwith the theme, 12 |Days ORANGEto ofpresent Christmas. |its annual Spring Event provided you with information December 1, 6PM, Ardsley Night. www.rivertownsguide.com/fnl Last tour starts at 3:15PM. Cost: $10 Adults, $6 Children. alty is delighted Christmas Tree Lighting. Come watch as we light up the town www.lgny.org of local community events throughouts Guide, N a listing for the December Holidays, beginning at the Ardsley Firehouse December 7, 4:30PM, Brewster and the Hudson Valley. The events are and end up at the Community Center. Music from Ardsley High Ornament Making Workshop. Hand make an ornamentReal before December Estate 14, 10:30AM, Rye region, and then by date, and we have alsoew Jersey landscaper. School, refreshments, and the man in red just might show up! the light festival on Main Street. 845.279.7500. Pancakes with Santa. Enjoy a hot buffet breakfast and have your organized by about having a great 914.693.8012. www.ardsleyvillage.com picture taken with Santa. Advanced registrationongoing required. events Santa in a separate section t WESTCHESTER,December 7, 10AM–4PM, Mamaroneck requests that parents supply gifts for him toeasier distribute, to dropped fi nd great ways to celebrat listed December 1, 3–5PM, Yonkers Christmas Fair and Auction. Fun for the entire family. Christmas off at Rye Recreation by Dec 12th. Cost: $14 Rye Residents, o make it Ridge Hill Menorah Lighting at Ridge Hill Blvd. At a time when PUTNAMshop, & homemadeDUTCHESS baked goods, lunch and Marchother items 28 for & May$16 Non-Residents.18, 3PM, Yonkers Rye Recreation Park, 281 Midland Avenue. e the season. the world so desperately needs more light, Chanukah gives sale. Silent auction and live auction. Net proceeds support SundayMarket Free Concerts914.967.2535. at Saunders www.ryeny.gov HS, 183 Palmer Road. Report us the opportunity to brighten up this world in a tangible way. move and grieving your local community programs. Location: St. Thomas Church, Presented by Fine Arts Orchestra Society of Yonkers/Yonkers Light refreshments will be served. Free. 718.679.3614.March 8, 12PM, WhiteHeathcote Plains Hall, 168 W Boston Post Road. 914.698.0300.3 RD December 14, 8:30AM–1PM, HarrisonApril 12, 2PM, Beacon Philharmonic Orchestra!QUARTER Enjoy | 2013 totally enchanting and inspired St. Patrick’s Day Parade.www.saintthomasmmrk.org Over 90 Participating groups Westchester Jingle Bell 5K Run/Walk. PurchaseKirsten CollegeSwenson will discuss the works of Sol LeWitt. Part of December 2, 6PM, Yonkers performances! www.yonkersphilharmonic.org/calendarPerforming Arts Center, 735 Anderson Hill Rd. Fun, festive Cross County Shopping Center Menorahand Lighting. 26 musical Center performances.of Come join the fun and stay Dia:Beacon Gallery Talk series. Free with museum admission. December 7, 4:30PM, Irvington event for the whole family! www.wcjbr.kintera.org/faf/home/ the mall between Adidas & Bebe. Thereto will enjoy be, donuts,the celebration hot on Mamaroneck Avenue. Free. March 29, 9AM–5PM, Larchmont No reservations required. 3 Beekman St., Beacon, NY 12508. • You want to know whether adding a Holiday Tree Lighting. Music and refreshments. I.K Benjamin default.asp?ievent=1078201 property taxes. We feel www.whiteplainssaintpatricksday.com 845.440.0100. www.diaart.org/gallerytalk latkes, chocolate gelt, crafts and music! Community Center, 71 Main Street. 914.591.7736.Regional2nd Annual Larchmont Brickfest: AMarket Festival Built from LEGO® Overview March 8 & 9, White Plains Bricks! All Ages. Meet Decemberin the Village 15, Center. 3PM, Come Yonkers explore a December 2, 1–3PM, New Rochelle December 7, 5PM, Dobbs Ferry world created out of LEGO®Yonkers Bricks.Male GleeThis visuallyClub with interactive Robert Sonnenberg,April 13, Music 7–9PM, Mt. Vernon Christmas Tree Trimming Party. Join NewJournal Rochelle News seniors Golf asShow – latest equipment, apparel and Holiday Tree Lighting. Intersection of Main300-sq.-ft Street and display, Cedar fi lledDirector. with whimsical Location: scenesSaunders bursting High School, with 183Tribute Palmer to TheloniousRoad. Monk. PJS Members $14 Non-members they decorate the Seniors Christmas Tree.accessories, Bring an ornamentwork with area pros to fi ne tune your game. he real estate market in New York$22. City’s Concerts northern are held in a suburbscabaret setting – Free Wine, pool would raise or lower your property Westchester County Center,Street. 198 www.dobbsferry.comCentral Avenue. Adults $10. puns hidden surprises, Freeis sure Admission. to entertain kids (and adults) it’s our job to help you and enjoy some hot chocolate and cookies. Hugh A. Doyle of all continuedages. Along with the display will be “Seek and Find” Coffee & Tea available – Bring your own food & snacks or buy Senior Center, 94 Davis Avenue. Free.www.countycenter.biz 914.235.2363. December 7, 5PM, Tarrytown December 15, 5:20PM, Yonkers challenges, Premium LEGO® Sets for raffl e, LEGO® building our famous hot dogs, snacks and sodas. Additional Parking T dramaticallyHolidayto throughoutsurge Skating inParty the and the Skatingthird region, Exhibition. quarter Forreaching the of 1st 2013, hour, levels with sathat we The 13th Annual Holiday Tree Lighting. Patriots Park. December 5, 5:30PM, YonkersMarch 15, 11AM–6PM, March 16, 11AM–5PM,have events not and seen a LEGO® since creativity the corner. seller’s Tickets go market on sale in ofis theavailable last at thedecade. Holmes School More (entrance on Columbus 914.631.1885. www.tarrytowngov.com skate with Santa, Mrs. Claus and Swizzle the Skating Polar Annual Chanukah Celebration. Location: Sprain Brook Manor, Avenue). For more information call Greg at 914.793.7179. White Plains significantly,February and cost after$5.00 Bear.each over Thefor ages2nd a hour, 3year and enjoy up. of theSponsored Holidaysustained Ice Skating incre Show. E. J. values. 77 Jackson Avenue. Chanukah music,The Westchesterhot buffet, latkes,County Home Show is the largest and by the Friends of the Larchmont Public Library with proceeds with anything that relates December 7, 2–6PM, Newdemand, Rochelle prices areMurray finally Skating startingCenter, 348 Tuckahoe to show Road. signsFree admission, of apprecia donuts, gifts for the children. Free! April 14 & 15, 7PM, April 28, Mamaroneck longest running regional HomeSeniors Show Holiday in the Luncheonarea. Located and Dance.for at the benefiFeast firston ting a scrumptious the time Larchmont since Public$4 rentals. the Library. Doors market open at 4:45PM.correction 914.377.6469. of 2008. the Westchester County Centerlunch this and homeenjoy theshow delightful boasts sounds an of the Peter Childs Band. Mamaroneck High School Senior Musical “CHAT”- Mamaroneck December 5, 6PM, New Rochelle High School, 1000 West Boston Post Road. Call 914.220.3100Going forward, we are cautiously optimistic elite attendance from one ofHugh the wealthiestA. Doyle Senior enclaves Center, in 94the Davis March Avenue. Cost:29, White$10 with PlainsDecember 15, 2013 & January 26, 2014, 9AM– les up that the market will continue to grow through for admission fees. www.mamkschools.org The Chamber of Commerce in cooperationmetropolitan with thearea. City Adults of $10,Omnicard, Seniors $8, $20 Children without. 12 914.235.2363. & UnderSales WHUD’s activity Kids was Fair. upA day throughout of3PM, education White theand Plainsfunarea, with programs, the end of the year, leading to a strong spring to real estate, anytime New Rochelle is happy to sponsor Free.the annual For more Holiday information, Lighting Christopher Thomas 860.563.2111reaching services levels and we entertainment have not Westchester seenfor kids in almostof allToy ages. aand AdmissionTrain Show. Come and see April 19, 9AM–6PM, Pawling market in 2014. The reason for some caution is Ceremony. Memorial Plaza, cornerext. of Main 307,Toll St. and Free Memorial outside CT December800.955.7469. 8, E-mail:8PM, Newchris@decade. RochelleAdults Regional $10, salesChildren in Westchester, $5.this Westchester incredible Putnam, displayCounty of Center.trains made by Lionel, Ives,ases in buyer Kessman Farms - Easter egg hunts for toddlers, children,that and we question whether the surge in activity this Highway. jenksproductions.com. Website:Pac www.jenksproductions House Theater, Rockland,311 Huguenot914.995.4050. Orange, Street. and www.whud.com/promotions/kids DutchessCost: CountiesAmerican wereFlyer, upMTH plus K-line Trains. Cost: $9 $10 at smartTix.com, $18 at door. 212.868.4444. for all ages (includes adults), The Easter bunny will makesummer an was spurred by perc almost 26% from the second quarterAdults, of last Free for children 12 & under. 914.995.4050. December 6, 5–8PM, PawlingMarch 17, 11:30AM–3PM,www.incomingtideentertainment.com New Rochelle April 1, 10–4PM, Yorktownwww.westchestertoytrain.comSimilarly,appearance, we have beenVisits observiand photos with thetion Easter Rabbit.interest Free. rate increases. Historically, when purchasers • You need a market valuation for a tax Decemberfest at the John Kane House in Pawling. The Colonial highest year-on-yearEaster Egg Hunt sales at Downingincrease Park since and we Breakfast started with thebuyer Easter activity since early 2012 without seeing any think that rates are going up, you need us, regardless St. Patrick’s Day Luncheon at the Hugh Doyle Senior Center, Other activities for children, Bring a basket to collect the eggs! December 8, 6PM, Valhalla eptions about pending era house will be decorated and94 openDavis for Avenue, tours. DonationsNew Rochelle, NY. Wear your greenmeasuring and Bunny. market For more trends info, over call Denise 13 yearsDecember 914.962.5876. ago (other 16, 3PM,real Yonkers changeFarm in regionalanimals are pricing present, -- until fresh now. eggs, snacksFor the and refreshmenttheir buying decisions to take advantage of rates of $3 appreciated. Children under 12 free. 126 E. Main St, Girl Scout Annual Tree Lighting. Valhalla Gazebo. For more Reading of the Christmas classic, A Christmas Carol. Hudson celebrate all things Irish. Lunch will include corned beefthan and the 2009-10 period artificially incentivized year, theby first time instand. years, 83 Route average 22, Pawling. sales prices845.878.7492.ng increases were up [email protected]. in in before they jump. Certainly, th Pawling. info, contact Caroline Baviello at 914.760.4095.April 9, 6–9PM, MahopacRiver Museum, 511 Warburton Avenue. 914.963.4550. they often accelerate cabbage. There will be musical entertainment by Ina Wattersthe federal in home buyer tax credit). Moreover, the every county in the region compared to last year, some of the frenzied activity we observed over the Join the Hudson Valley’s fi nest restaurants, wineries and food Song. Suggested donation is $2.00. 3,953 quarterly regional sales were the most since rising 7.6% Aprilin Westchester, 19, 10AM, 1.3% Yonkers in Putnam, 10.2% summer, with what seemed like a premature return grievance petition, or for your home & beverage producers for a tasting as the come together of whether these matters the third quarter of 2005, and the 8,717 year-to-date in Rockland,Annual 1.8% inEaster Orange, Egg Hunt!and 4.9% Redmond in Dutchess. Field on Cook Ave.to multiple Free. offers and bidding wars –at behavior might explain that www.randrealty.comMarch 22, 1PM, Yonkers sales were theand mostshare sincetheir masteriesthe first tonine benefi months t the of Putnam/Northern Sponsored by City of Yonkers. Ages 4-10 years old. Eggs are 59th Annual McLean Avenue St. Patrick’s Day Parade. Similarly, although the median sales p we would not normally expect in a market at this 2007. In otherWestchester words, thisWomen’s was a historicallyResource Center. strong Putnam/Northern hidden on the fi eld. Bring your baskets and your cameras! Free parking and Shuttle Bus Service compliments of Westchester Women’s Resource Center is a Orange,non-profi thet median was up in every other county, early stage of recovery. So we do believe that the three months of real estate sales activity. Come and meet the Easter Bunny. 914.377.6450. Empire Casino in Yonkers Avenue Lot at the Casino! Free. organization providing education, advocacy and servicesrising to 3.3%the in Westchester, 5.1% in Putnam market will cool a little in the fall and winter, not insurance. www.yonkersstpatricksparade.org Rockland, and 5.2% in Dutchess. Obviously,rice wasmost flat of in come up following the Moreover,community sales inactivity order to createhas now a safe, been supportive environment April 19, 7–10PM, Yonkers just because of the normal seasonal slowdown in increasing forthat overeliminates a full violence year. and promotes gender equality.those Costincreases were relatively modest, but the key the market but also because some of that “irrational March 26, 7PM, Yonkers Beczak Environmental Education Center on the waterfront. straight quarter$75. of www.pnwwrc.org year-on-year-sales increases, point is that we saw prices go up in every county. exuberance” has eased up Bernie Wides will have a presentation which will focus on the Urban H2O – The Folkadelics –, 6.0%they inare anything but That has not happened in a long time. Prices are latest research about Whales as well as the centralthe role longest they such streak in over 13 years. To put a folk band! $10 at the door. Check schedulethat the here: market fundamentals are very strong: prices April 12, 10:30AM, 12PM, This was Mt. sixth Pleasant generally still down to 2003-04 levels throughout have played for thousands of years in human culturesthis in historicaland perspective, note that starting in www.beczak.org/eventscalendar.htm at 2003-04 levels are still very. Butattractive overall, for we buy believe closing of your home. Hop on over to Broadway Field for the Spring Egg Hunt. the fourth quarter of 2004, year-on-year quarterly the region, and are generally about 25% below the interest rates are still near historic lows and have the rise in laws protecting them. Refreshments precede the Preschooler - 2nd graders. Bring Basket and search for plastic sales fell for 20 straight quarters -- over five ye height of the market,April but21, the 10AM–12PM, trend is more positive Rye drifted down after a summertime spike, and general program. Free. Lenoir Nature Preerve, 19 Dudley Street. Call eggs, candy and other surprises. A visit from the Bunnies tops Michael Bochnik 914.237.9331. than it has beenBird at Hikeany timeand Egg since Hunt the at endthe Rye of theNature Center. Join us for sales declines thatoff this ended event. only This when event theis for tax children. credit In case of inclement economic conditions are improving. We expect kicked in starting in late 2009. And to give you an seller’s market ina morning2007. hike as we explore our backyard forestthat lookingsales and for prices will continue to exceed 2012ers, • You are thinking of renovating your kitchen, weather please call the Recreation Hotline at 914.742.2364 for local birds. Bring your own binoculars. Hike will be followed idea of how far we have come from the bottom of levels through the end of the year, and that we will updates, times, and location. by an egg hunt at 11AM. Bring your own baskets to collect the market, the 3,953 quarterly sales was almostars of start to see some meaningful price appreciation in www.randrealty.com Reg eggs. Bird Hike: Free. Egg Hunt: Child Members $8, Child 25% higher than the 3,176 sales that closed in the ional R what will be a strong spring market. $700,000 Non-Membersolling $10. www.ryenaturecenter.org first six full months of 2009, at the very beginning Year A and wonder how much it will impact your of the market correction triggered by the financial $650,000 verage S You should feel free to reach crisis of late 2008. $600,000 ales P rices and Number of Homes S More significantly, sales prices were up $550,000 (slightly) throughout the region. $500,000 noted over the past year, it takes time for increases home’s value. $450,000 out to your agent with anything in sales activity to impact pricing. For example, old $400,000 sales activity started to decline in late 2005, As we but have 20,000 $350,000 prices did not start to fall for over two more years. 18,500 $300,000 17,000 you need, but in the meantime, $250,000 15,000 Average S $200,000 ales P Number of Homesric S 13,500 2002 e 2003 old 12,000 2004 • You’re wondering what that home down the block 2005 10,500 we hope you enjoy some of 2006 www.randrealty.com 2007 9,000 2008 2009 7,000 2010 2011 5,500 just sold for. 2012 the services we will continue to 20 4,000 13Q3 ©2013 Independently Owned and Operated By The Rand Family. provide you as a client of the firm: • Or you’re just curious as to what’s happening in the market. The Rand Quarterly Market Reports. The In all these situations, you really just need a good real estate same quarterly market reports you’ve probably been reading agent. An agent can give you recommendations for various home during the course of your home search will be delivered to you service professionals (and probably some good restaurants, dry either through the mail or via email. This is a great way to keep cleaners, and the like as well), can advise you about renovations track with what’s going on in the real estate market. After all, or home improvements and how they’ll impact your property your home is probably one of the biggest investments you have, values, can get you all the information you need about the so you should be watchful as to what’s happening with local market, and can even do a comparative market evaluation any market values. time you need it. The Rand Seasonal Event Guides. Along with the market reports, The same holds true for our Hudson United home services Better Homes and Gardens Rand Realty provides four seasonal companies for mortgage, insurance, or title. If you ever have guides to community events throughout the region – everything questions about your mortgage, insurance, or property title, from parades to street fairs and exhibitions. It’s a great way to you should feel free to reach out to us. For example, if you’re get to know the region and to take advantage of all the wonderful concerned that someone might have put a lien on your property things to do in the area. without your permission, you should absolutely get in touch with us so we can provide you with a complimentary lien search to Better Homes and Gardens Magazine. When you buy your check the status of your title. home through us, you’ll be getting a complimentary yearlong subscription to Better Homes and Gardens Magazine, one of the Buyer Orientation Guide | Closing | Your Realtor for Life

most popular magazines in the country and the iconic source for We believe we’re the only company in the country prioritizing information about everything having to do with maintaining and the delivery of great service to clients, even non-transactional improving your home and life. clients, as a foundation of our business. That’s what our CORE client care program is all about, and what this Orientation Guide Why do we do all this? That’s a good question. Most agents don’t has been about. We hope you’ve see the difference in the even consider providing these non-transactional services for a experience that you’ve had with us, and in the experience that very simple reason: they don’t get paid for it. But we believe that you’ll continue to have with us. we owe our clients a higher duty than just guiding them through a home purchase or sale. Moreover, we are thinking of the long- From everyone at Better Homes and Gardens Rand Realty and term, and the hope that you will someday need our services to the Hudson United companies, we wish you the best of luck in sell that home that we just helped you buy. And in the meantime, your new home. we truly hope that you will recommend Better Homes and Gardens Rand Realty and your agent to anyone you know who Keep in touch…. might need real estate services.

WESTCHESTER | ROCKLAND | ORANGE Real Estate

Going forward, we believe that homeowners nancial crisis have reason to be optimistic entering 2014.2009, Market4TH QUARTER | 2013 ReportIt’s become increasingly clear that the buyer’s market precipitated by the 2008 fi has come to an end. Looking back, it appears that the bottom of the market was in late with prices falling 20% over an eighteen month period – a decline arrested only by federal supportold Regional Market Overview in the market through the home buyer tax credit20,000 of 2009-10. For the four years from 2009-2012,18,500 we he real estate market in New York City’s northern suburbs hadric aes fully-blown and Number buyer’s of market, Homes with S low 17,000levels ales P r this past year, finished the 2013 year strong, with sales up significantly rs of buyer demand, rising inventory, and downward15,000 verage S pressure on prices. But that has turned around. across the region and prices continuing to show theear firstA 13,500 upY for another two yea Buyer demand has come back strongly for almost T olling 12,000 small signs of appreciation. Given the trendsional over R the past two two years now, accelerating ove Reg 10,500 years, it’s increasingly clear that the butregion prices continuedis poised to goSimilarly, to begin it’s beenack up, almost so it’s and now seems poised to start driving appreciation $650,000 for the fi rst time since the end of that last seller’s9,000 new market cycle that will likely drive as buyersboth and sales sellers and slowly prices came to gripsup with the market in 2007. 7,000 for the next few years. new $600,000market realities. Accordingly, we expect that sales will continue5,500 two years$550,000 since sales started going ba long way to not unexpected that prices have started to come to grow through 2014, with a particularly 4,000robust arter of 2013 were up $500,000 Sales activity was up again throughout the Q4 back a little. spring market driving sales well above price 22013 0appreciation13 levels. area, reaching levels we have not seen in years. $450,000 And we also expect that these2012 increases in buyer All that said, prices still have a 2011 Regional sales in the fourth qu Rockland up over 10%, $400,000The regional average sales price is up over 10% demand will ultimately2010 start pushing prices up by go. 2009 over 16% from the fourth quarter of 2012, and up in the summer, with meaningfulold $350,000 2008 every county in the region: Westchester up mmer,almost but from the $475,000 market bottom reached in 2009, 2007 by the end of the year. Ultimately, based on the HUDSON VALLEY & NEW JERSEY Number of Homes S 17%, Putnam up almost 18%, but we$300,000 are still well below the regional price2006 levels 2005 historical trends we have seen in prior transitions Orange up over 25%, and Dutchessr. up Indeed, over 9%. this As was from $250,000the height of the seller’s2004 market in 2005-07,rice from buyer’s markets to seller’s markets, we are 2003 ales P we predicted in the last Report, sales receded just a when prices topped out atrom over the $600,000. eoverlyrage S exuberant Basi- OLD Winter Events Guide $200,000 2002 Av projecting a regional 15%–20% salesES Sincrease and 20,000 little bit from the frenzied levels of the su cally, we are back down to 2004 prices – we gave 2%–3% price appreciation for 2014. they were still well above last yea back the appreciation f 18,500 CES AND NUMBER OF HOM the seventh straight quarter of year-on-year regional height of the seller’s market from 2005-07, but we PRI 17,000 SALES transactional increases, the fi rst time we have seen at least retained the gains homeowners achievedRAGE 15,000 ily sales was the AVE this kind of sustained growth in buyer demand in during the more traditional phaseY EARof the seller’s 2013–2014 13,500 over ten years. For the year, the region was up 19% market from 1998-2004.R OLLING IONAL 12,000 from 2012 and a whopping 34% from 2011. Indeed, REG Better Homes and Gardens Rand Realty is delighted to present its annual Winter Events Guide, a listing of local community events throughout New the 11,603 total regional single-fam 10,500 Jersey and the Hudson Valley. The events are organized by region, and then by date, and we have also listed ongoing events in a separate section to highest in any calendar year since 2007. AlthoughERSEY $650,000 9,000 we are nowhere near the transactional levels J from make it easier to fi nd great ways to celebrate the season. This year we’ve also included a list of area ski resorts. For updated lists of events, go to EW $600,000 7,000 the height of the seller’s market, when the region www.randrealty.com and look for our weekly events guide. Have a great holiday season! & N 5,500 was closingALLEY 15,000 to 16,000 sales every year,n pricing. we $550,000 V 4,000 are certainly moving in the right direction. $500,000 UDSON 13Q4 H 20 Westchester, Putnam These sustained increases in buyer demand $450,000 2012 2011 & Dutchess are fi nally starting to have an impact o pricing was $400,000 2010 The regional averageFALL sales price rose to just about 2009 2008 e counties down $350,000 old wned and December 1, 12–3PM, Rye $525,000, which was a 1.8% increase from 2012 to 2007 amily. A family festival which takes place o 2013, even while falling back just slightly from the $300,000 2006 Number of Homes S 2013 2005 ©2013 Independently O Rye, NY. Santa, train rides, horse drawn December 6, 5PM, Scarsdal levels reached in the third quarter. The $250,000 2004 Operated By The Rand F rice holiday crafts, musical performances Scarsdale Chamber of Commerce Tree mixed across the region, with som 2003 ales P $200,000 2002 age S www.ryechamberofcommerce.com Circle. www.scarsdalechamber.org slightly and some others up slightly, but the overall xth annual Fall Events Guide,Av efeaturingr over 100 n Purchase Street in itated by December 1, 6PM, Ardsley December 6, 6PM, Yorktown e EVENTStrend was defi nitely positive.GUIDE Essentially, this is what and apple picking throughout the region. For a Christmas Tree Lighting. Come watch as we carriage rides, Yorktown Tree Lighting. Location: Jo , food, fun and more! Lighting at Boniface we have been waiting for over the past two years, r the events’ listings on the blog section. We wish you for the December Holidays, beginning at 914.245.4599. www.yorkcounty.gov as buyer demand clearly started to recover from the and end up at the Community Center. Mu December 13, 5:30-7:30PM, Ry at 685 Weaver Street, School, refreshments, and the man in red jus December 6, 6:30PM, Hasti Santa visits, drop by and say hello! Jus aftermath of the market correction precip entire family. Join in 914.693.8012. www.ardsleyvillage.com Friday Night Live Lights up the Night. Tr him your list for Christmas. Have your picture2 014 the fi nancial crisis of 2008. But as we have noted www.randrealty.comOctober 20, 1–4PM, Larchmont music, arts and crafts light up the town hn DeVito Park. the Ardsley Firehouse Park. Holiday Show, life-size candy house, and make an ornament to take home Better Homes and Gardensbefore in Rand this Report, Realty it is takes proud time to for present changes our in si The Sheldrake Environmental Center located December 1, 3–5PM, Yonk , October 6, sic from Ardsley High Night. www.rivertownsguide.com/fnl served. Free. Rye YMCA, 21 Locust Av local community events, and a special listing of farmers’ markets Larchmont, NY is hosting a day of fun for the Ridge Hill Menorah Lighting at Ridge Hill Blv ngs-on-Hudson e buyer demand to have an impact on pricing. For www.ryeymca.org t enough time to give weekly update of events, go to www.randrealty.com and look fo ester County the fun with pumpkin painting, live animals, the world so desperately needs mor t might show up! December 7, 4:30PM, Br example, sales started falling back in late 2005, upport this incredible ee Lighting at VFW October 4, 12–6PM, October 5, 10AM–6PM and much more! us the opportunity to brighten up this Ornament Making Workshop. Hand make December 14, 10AM–5PM, Poug taken with Santa and your family a wonderful autumn season. including postcards. ers . Refreshments will be 10AM–4PM, White Plains Cancer Walk. Join us and s Light refreshments will be served. Free. 718.6 the light festival on Main Street. 845.279. Hastings Friday Locust Grove Estate Holiday Tour. E October 20, 9:30AM, Purchase enue. 914.967.6363. Stamp, Coin & Paper Money Show – 49th year at Westch www.makingstrides.acsevents.org make the holidays come alive as you tour the Strides Against Breast December 2, 6PM, Yonkers d. At a time when ewster Center. There will be over 100 dealer booths e light, Chanukah gives December 7, 10AM–4PM, M decorated rooms with the theme, 12 D better than ever. Westchester cancer fundraiser. Location: Manhattanville College, 2900 Cross County Shopping Center Menorah world in a tangible way. Christmas Fair and Auction. Fun for the en Free. For more info, call 914.995.4050. Purchase Street. For more info, visit Academic Arts Theatre at an ornament before Last tour starts at 3:15PM. Cost: $10 Ad Hudson Valley & New Jersey , Valhalla. This the mall between Adidas & Bebe. There shop, homemade baked goods, lunch and hkeepsie Westchester, Putnam and anian, 7500. www.lgny.org xpert guided tours oor October 5, 1–8PM, Dobbs Ferry October 26, 8PM, Valhalla latkes, chocolate gelt, crafts and music! 79.3614. sale. Silent auction and live auction. Net This year’s Ferry Festa promises to be bigger and Atlantic City Ballet “Dracula” at the local community programs. Location: amaroneck December 14, 10:30AM, Ry Dutchess County Eventsdrink, music and outd tic tale of the notoriousmissed Transylv classic takes December 2, 1–3PM, New Ro mansion’s 25 A group of Tactical Urbanists will descend on the Village and will Westchester Community College, 75 Grasslands Road Lighting. Center of Heathcote Hall, 168 W Boston Post Road. Pancakes with Santa. Enjoy a hot buffet brea ays of Christmas. Christmas Tree Trimming Party. Join New tire family. Christmas September 6, 7PM,s MamaroneckBlock Party. Food,reat local charities.ree. For Location:more info, be promoting bikeability, walkability, and place making. Free. three-act ballet tells the hypno will be, donuts, hot www.saintthomasmmrk.org picture taken with Santa. Advanced regist ults, $6 Children. isk,” to be transfi xed by they decorate the Seniors Christmas Tree. Br other items for Mamaroneck Share For more info, call 914.231.8500 or visit www.ferryfesta.coma-thon & Festival. Enjoy Count. Set in the 15th century, this not-to-be- niors/Fac-Staff $22, requests that parents supply gifts for him to fun for everyone. Supporting 4 g and enjoy some hot chocolate and cookie December 7, 4:30PM, Irv proceeds support e path bordering the Long audiences on a supernatural journey from London to06.6262. Romania. Come St. Thomas Church, off at Rye Recreation by Dec 12th. Cost: Mamaroneck Avenue in the heart of the village. F October 6, 10AM–3PM, New Rochelle endors, refreshments, Senior Center, 94 Davis Avenue. Free. 914.chelle Holiday Tree Lighting. Music and refre booth, music in costume, or simply come, “at your own r $16 Non-Residents. Rye Recreation Park, 281 kfast and have your visit www.mamaroneckshares.com th a three-day celebration 5th Annual Hounds on the Sound, Dog Walk- Rochelle seniors as Community Center, 71 Main Street. 914.591. 914.698.0300. ers take the stage this Transylvanian tale! Adults $24, Students/Se December 5, 5:30PM, Yonker 914.967.2535. www.ryeny.gov ration required. Santa September sizzles wi a leisurely 1.5 mile stroll with your dog on a September 6–8, White Plains rnational Food and rations, dog contests,option. photo Glen Island Park, Children under 13 $18. For more info, call 914.6 Annual Chanukah Celebration. Location: ing an ornament ington Island Sound, followed by a fun day at the park. V ty.org December 7, 5PM, Dobbs F December 14, 8:30AM–1 distribute, dropped White Plains Jazz Fest. le for purchase. the Yonkers Pier. Free. 77 Jackson Avenue. Chanukah music, ho s. Hugh A. Doyle $14 Rye Residents, activities for kids, demonst October 27, Yonkers Holiday Tree Lighting. Intersection of Main Westchester Jingle Bell 5K Run/Wa of jazz in downtown White Plains. See top perform donuts, gifts for the children. Free! 235.2363. shments. I.K Benjamin & more. Dogs and cats will be available for ad Yonkers Downtown 6th Annual Pet Parade. Dress your pet in your Street. www.dobbsferry.com Performing Arts Center, 735 Anderson Midland Avenue. at several venues, culminating in the outdoor Inte e s Pelham Road. Email: walk@newrochellehumanesocie favorite Halloween costume! Parade starts at e Somers December 5, 6PM, New Ro 7736. event for the whole family! www.wcjbr.kin Jazz Festival on Sunday! Free. Refreshments availab with displays of Sprain Brook Manor, December 7, 5PM, Tarrytown erry PM, Harrison Better Homes and Gardens Rand Realty is delighted This will be For confi rmed time, visit www.yonkersdowntown.com default.asp?ievent=1078201 For more info, visit www.artsw.org/jazzfest October 6, 11AM–6PM, Mahopac ponsored by the Friends of th The Chamber of Commerce in cooperati The 13th Annual Holiday Tree Light to present its annual Spring Events Guide, a listing display. t buffet, latkes, lk. Purchase College September 7, 12–4PM, Cortlandt The Greater Mahopac-Carmel Chamber of Commercefeaturing presents both October 27, 2–3PM, Somers New Rochelle is happy to sponsor the annu 914.631.1885. www.tarrytowngov.com Street and Cedar December 15, 3PM, Yonker ith a terrifi c fi reworks Hill Rd. Fun, festive of local community events throughout New Jersey Annual Cortlandt Family Fun Day off Memorial Drive next to th the 11th Annual Street Fair. Exhibit booths abound local restaurants Musical Concert - for all ages. S oth are closed Ceremony. Memorial Plaza, corner of Mchelle Yonkers Male Glee Club with Robert trick tera.org/faf/home/ Cortlandt Youth Centeral bands and and the ending Cortlandt w Train Station. everything from trinkets to major appliances. There will be games and Library. Located in the Program Room. Highway. December 7, 2–6PM, New Ro Director. Location: Saunders High Schoo and the Hudson Valley. The events are organized by y of the founding of Seniors Holiday Luncheon and Dance. Fe followed by music lle Street Fair on rides for the children, two bands and a DJ, a car show Street and Cedar Street. B on with the City of ing. Patriots Park. Free Admission. region, and then by date, and we have also listed October 31, 4–6PM, Dobbs Ferry December 6, 5–8PM, Pawlin s classic and new cars, and food from a variety of our nfo, call 914.693.6614 or lunch and enjoy the delightful sounds of the September 8, 11AM–5PM, New Rochelle Avenue will feature all kinds Trick or Treat on Main Decemberfest at the John Kane House in al Holiday Lighting Hugh A. Doyle Senior Center, 94 Davis Avenue December 15, 5:20PM, Yon ongoing events in a separate section to make it New Rochelle is celebrating its 325th anniversar live entertainment and delis. For more info, visit www.mahopaccarmelonline.com/ ain St. and Memorial Sonnenberg, Music join in the fun as off to cars allowing children to walk store to store for a safe era house will be decorated and open for to Omnicard, $20 without. 914.235.2363. chelle Holiday Skating Party and Skating Exhibiti easier to fi nd great ways to celebrate the season. our great city with year long events. The New Roche the-mahopac-carmel-street-fair-2013 omething l, 183 Palmer Road. es, or treating experience. Free. For more i of $3 appreciated. Children under 12 f skate with Santa, Mrs. Claus and S Main Street from Centre Avenue to North wton Street will host ast on a scrumptious WESTCHESTER, October 13, 11AM–5PM, Yorktown visit www.dobbsferry.com Pawling. g December 8, 8PM, New Ro Bear. The 2nd hour, enjoy the Holiday Ice of booths with games, food, arts and crafts and led with over 250 vendors with s resenting music from Peter Childs Band. kers for its 29th year. One 5th Annual Yorktown Festival and Streetwill have Fair. fun Come kids’ rides, activiti Pawling. The Colonial Pac House Theater, 311 Huguen Murray Skating Center, 348 Tuckahoe Road. PUTNAM & DUTCHESS March 28 & May 18, 3PM, Yonk for children and adults. ries, furniture, Novermber 9, 2PM, New Rochelle ill be presented by the $10 at smartTix.com, $18 at do . Cost: $10 with downtown Yorktown gets fi l w offi ce location! The New Rochelle Public Library located at La $4 rentals. Doors open at 4:45PM. 914.3 on. For the 1st hour, Sunday Free Concerts at Saunders HS, 183 Palmer Road. September 20–22, 10AM–5PM, Tarrytown urs. Donations wizzle the Skating Polar ers ion jewelry, fashion and accesso for everyone. This year’s event an adult concert in the Ossie Davis Theatre p an Irish pub, the ree. 126 E. Main St, www.incomingtideentertainment.com Presented by Fine Arts Orchestra Society of Yonkers/Yonkers April 12, 2PM, Beacon Falls Crafts at Lyndhurst returns to Tarrytown court, purchase www.randrealty.com chelle December 15, 2013 & Jan demonstrations, concerts, clothing, jewelry, food, and more. Stop around the world. This exceptional program w Skating Show. E. J. Kirsten Swenson will discuss the works of Sol LeWitt. Part of of-a-kind and limited edit ed December 8, 6PM, Valhall 3PM, White Plains March 8, 12PM, White Plains Philharmonic Orchestra! Enjoy totally enchanting and inspired the new expanded food by the BHG Rand Realty booth in front of their ne ot Street. Cost: home decor pieces, as well as functional and ytown,sculputral NY. Adultsartwork. $10, talented husband-wife due of guitarists, Mark Levesque and Judy Girl Scout Annual Tree Lighting. Valha Westchester Toy and Train Show. C Free admission, St. Patrick’s Day Parade. Over 90 Participating groups performances! www.yonkersphilharmonic.org/calendar Dia:Beacon Gallery Talk series. Free with museum admission. For more info, call Diane 914.245.4599. enter. Attorneys, certifi Handler. The audiences will enjoy a jam session at or. 212.868.4444. 77.6469. Visitors can also eat in dozen workshops on info, contact Caroline Baviello at 914.760.4 this incredible display of trains made and 26 musical performances. Come join the fun and stay No reservations required. 3 Beekman St., Beacon, NY 12508. 635 South Broadway, Tarr uary 26, 2014, 9AM– specialty foods and participate in children’s activities throughout the October 17, 9AM–2PM, Westchester White Plains County C warmth and passion of Brazil, a sweet love song from Taiwan and American Flyer, MTH plus K-line T March 29, 9AM–5PM, Larchmont hy maze planning. Free. For more a to enjoy the celebration on Mamaroneck Avenue. Free. 845.440.0100. www.diaart.org/gallerytalk weekend. Lyndhurst, Senior Law Day in the much, much more. Suggested donation is $2. Adults, Free for children 12 & under. 2nd Annual Larchmont Brickfest: A Festival Built from LEGO® www.whiteplainssaintpatricksday.com Seniors $9, Kids (6-16) $4, Under 6 free. h. Advanced fi nancial planners and others lead more than a lla Gazebo. For more www.westchestertoytrain.com Bricks! All Ages. Meet in the Village Center. Come explore a April 13, 7–9PM, Mt. Vernon ram. Paddle through this marsister, visit ome and see September 22, 2–5:30PM, Tivoli wills vs. trusts, estate planning and fi nancial Rockland and Orange County March 8 & 9, White Plains world created out of LEGO® Bricks. This visually interactive 095. December 16, 3PM, Yonker by Lionel, Ives, Tribute to Thelonious Monk. PJS Members $14 Non-members 2013 NYSDEC Canoe Prog info, call 914.995.4050. ag Sale. Rain or shine. Rte Journal News Golf Show – latest equipment, apparel and . For more info and to reg Reading of the Christmas classic, A rains. Cost: $9 300-sq.-ft display, fi lled with whimsical scenes bursting with $22. Concerts are held in a cabaret setting – Free Wine, with Reserve naturalists. Boats provided, bring a lunc Events from Congers Road October 19, 9AM–4PM, Somers ucts, handmade River Museum, 511 Warburton Avenue. 914.995.4050. accessories, work with area pros to fi ne tune your game. puns hidden surprises, is sure to entertain kids (and adults) Coffee & Tea available – Bring your own food & snacks or buy registration is required Saint Luke’s Harvest Festival & Super T September 1, 10AM–5PM, New City Westchester County Center, 198 Central Avenue. Adults $10. of all ages. Along with the display will be “Seek and Find” our famous hot dogs, snacks and sodas. Additional Parking hudsoncanoeprogram2013.eventbrite.comth something special for people of emorabilia, clothing, s 100 & 202, Saint Luke’s & Bailey Park. Fun for all ages. For more More than 100 vendor booths will line the street hildren from bounce www.countycenter.biz challenges, Premium LEGO® Sets for raffl e, LEGO® building September 22, 12–5PM, Ardsley gather at Palmer Christmas Carol. Hudson is available at the Holmes School (entrance on Columbus or visit www.ardsleyvillage.com info, call 845.628.0578. to First Street selling, books, health and beauty prod prize wheels. events and a LEGO® creativity corner. Tickets go on sale in Ardsley Day is a community festival wi Avenue of activities to entertain c 914.963.4550. March 15, 11AM–6PM, March 16, Avenue). For more information call Greg at 914.793.7179. all ages. Come join us for a great day full of music, fun and community. October 19, 12:30PM, Larchmont crafts, jewelry, photography sessions, sports m February and cost $5.00 each for ages 3 and up. Sponsored info, sic will be White Plains Free. For more info, call 914.693.1550 The Rag-a-Muffin Parade. Children should tie dye items. A myriad 11AM–5PM, by the Friends of the Larchmont Public Library with proceeds April 14 & 15, 7PM, April 28, Mamaronec Avenue and Larchmont Avenue at 12:30PMreshments to and show mu off their houses, colorful sand art, bubbles, glitter tattoos and The Westchester County Home Show is the largest and September 28, 1–5PM, Larchmonteptember 29th. Free. For more benefi ting the Larchmont Public Library. Mamaroneck High School Senior Musical “CHAT”- Mamaroneck inning at 1PM. Ref longest running regional Home Show in the area. Located at k Larchmont Arts Festival - Being held in Constitution Park (next Halloween costumes. They will paradeade. Rain down date: Larchmont October 26. Free. www.randrealty.com High School, 1000 West Boston Post Road. Call 914.220.3100 to Village Hall beg the Westchester County Center this home show boasts an March 29, White Plains to Village Hall). Rain date: S for admission fees. www.mamkschools.org visit www.villageofl archmont.org provided at the end of the par elite attendance from one of the wealthiest enclaves in the WHUD’s Kids Fair. A day of education and fun with programs, metropolitan area. Adults $10, Seniors $8, Children 12 & Under edal & more! $60 For more info, visit www.villageofl archmont.org services and entertainment for kids of all ages. Admission September 29, 8AM, Yonkers Free. For more information, Christopher Thomas 860.563.2111 April 19, 9AM–6PM, Pawling Yonkers Marathon and Half Marathon. Start and fi nish on Yonkers Adults $10, Children $5. Westchester County Center. ext. 307,Toll Free outside CT 800.955.7469. E-mail: chris@ Kessman Farms - Easter egg hunts for toddlers, children, and Waterfront. Offi cial clock runs 5 hours until 1:00 PM. Gatorade/water 914.995.4050. www.whud.com/promotions/kids for all ages (includes adults), The Easter bunny will make an provided on course. Participants receive t-shirt, m jenksproductions.com. Website: www.jenksproductions appearance, Visits and photos with the Easter Rabbit. Free. to register. For more info, visit www.nycruns.com April 1, 10–4PM, Yorktown Other activities for children, Bring a basket to collect the eggs! March 17, 11:30AM–3PM, New Ro Easter Egg Hunt at Downing Park and Breakfast with the Easter St. Patrick’s Day Luncheon at the Hugh Doyle Senior Center, Farm animals are present, fresh eggs, snacks and refreshment chelle Bunny. For more info, call Denise 914.962.5876. 94 Davis Avenue, New Rochelle, NY. Wear your green and stand. 83 Route 22, Pawling. 845.878.7492. [email protected]. celebrate all things Irish. Lunch will include corned beef and April 9, 6–9PM, Mahopac cabbage. There will be musical entertainment by Ina Watters in Join the Hudson Valley’s fi nest restaurants, wineries and food April 19, 10AM, Yonkers Song. Suggested donation is $2.00. & beverage producers for a tasting as the come together Annual Easter Egg Hunt! Redmond Field on Cook Ave. Free. Sponsored by City of Yonkers. Ages 4-10 years old. Eggs are March 22, 1PM, Yonkers and share their masteries to benefi t the Putnam/Northern Westchester Women’s Resource Center. Putnam/Northern hidden on the fi eld. Bring your baskets and your cameras! 59th Annual McLean Avenue St. Patrick’s Day Parade. Come and meet the Easter Bunny. 914.377.6450. Free parking and Shuttle Bus Service compliments of Westchester Women’s Resource Center is a non-profi t organization providing education, advocacy and services to the Empire Casino in Yonkers Avenue Lot at the Casino! Free. April 19, 7–10PM, Yonkers community in order to create a safe, supportive environment www.yonkersstpatricksparade.org Beczak Environmental Education Center on the waterfront. that eliminates violence and promotes gender equality. Cost Urban H2O – The Folkadelics – they are anything but March 26, 7PM, Yonkers $75. www.pnwwrc.org Bernie Wides will have a presentation which will focus on the a folk band! $10 at the door. Check schedule here: latest research about Whales as well as the central role they April 12, 10:30AM, 12PM, Mt. Pleasant www.beczak.org/eventscalendar.htm have played for thousands of years in human cultures and Hop on over to Broadway Field for the Spring Egg Hunt. April 21, 10AM–12PM, Rye the rise in laws protecting them. Refreshments precede the Preschooler - 2nd graders. Bring Basket and search for plastic Bird Hike and Egg Hunt at the Rye Nature Center. Join us for program. Free. Lenoir Nature Preerve, 19 Dudley Street. Call eggs, candy and other surprises. A visit from the Bunnies tops Michael Bochnik 914.237.9331. off this event. This event is for children. In case of inclement a morning hike as we explore our backyard forest looking for weather please call the Recreation Hotline at 914.742.2364 for local birds. Bring your own binoculars. Hike will be followed updates, times, and location. by an egg hunt at 11AM. Bring your own baskets to collect eggs. Bird Hike: Free. Egg Hunt: Child Members $8, Child www.randrealty.com Non-Members $10. www.ryenaturecenter.org