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Brown Blankfeld Buyers Book informs buyers about all aspects of purchasing a home in Southern Nevada

Buyer Presentation
Presented by
Brown Blankfeld Group
www.brownblankfeld.com
SELECTING AN AGENT
Most people don’t venture out into the Real Estate market without the support of an agent who
finds new listings, shows homes that are on tour and offers real estate advice. The few who
decide to look for a house on their own put themselves at a real disadvantage; they may not
know the market in a given area, nor do they have help or access to the Multiple Listing Service
(MLS) computerized listings of homes for sale that only an agent can utilize. So before you start
your home shopping, you should first start shopping for a real estate professional.
YOUR REAL ESTATE PROFESSIONAL SHOULD BE.....
A major factor in finding your "special home" that suits your personal lifestyle
meets your needs and wants, yet stays within your budget.
Able to access and analyze the multiple listing service system, locating properties
for sale in your specified area of interest.
Knowledgeable about your marketplace.
Respectful of your desires, lets you make your own decisions, and does not
force you into buying something that isn't right for you.
Aware of the complicated local and state requirements affecting property
that may affect your rights of ownership.
Successful in multi-party, face-to-face negotiating. Your Realtor will write up
your offer and then present it to the seller for you.
Willing to cooperate with all brokers to get the best value for you in your market.
BACKED BY LEGENDARY STRENGTH
Berkshire Hathaway HomeServices Arizona,
California and Nevada Properties
2014, 2013, 2012, Report
Our Company made the 2012, 2013 and
2014 Inc. 500 list of the fastest-growing
privately owned companies in America.
Our Company is honored to have more
top teams/agents than any other real
estate company in the nation.
Our Company ranked #4 in the Berkshire
Hathaway HomeServices Nationwide
Network.
Our Company is the fastest growing real
estate company in NV and AZ and the 3rd
fastest growing company in the nation.
Our Company sold more listings at a
higher value than any other real estate
company in the Valley.
Agents & Counting Gross Income as of
2016
Total Transactions
as of 2016
2,400
24
+
$29
BILLION
290,000
Berkshire Hathaway
HomeServices
International network
Consistently rated
as one of the
most productive
companies in the
nation
Highest average
sales price locally
and nationwide
World
Wide
2012
2013
AWARDS & RECOGNITION
7475 WEST SAHARA AVENUE SUITE 100
LAS VEGAS, NEVADA 89117
www.brownblankfeld.com
@BrownBlankfeld
@BrownBlankfeld
@BrownBlankfeld
“Selling Homes In Southern Nevada Since 1988.”
EXPERIENCE MATTERS.
AGENCY RELATIONSHIPS
We are excited about working with you and helping you find your next home!
In Nevada, as professional Real Estate agents, we are required and must disclose in writing,
whom we represent in every transaction.
In order to meet this requirement, I am enclosing a “Duties Owed” disclosure for your review.
This disclosure outlines our fiduciary responsibilities to you and that we represent you and only
you in a given transaction.
In the event that you choose to purchase one of our own listings, we are required by law of to
provide you with “Consent to Act” form outlining that we represent both parties. We will discuss
this in more detail if this situation arises.
Finally, we ask that you actually hire us as your real estate professionals! How do you hire us? It’s
pretty simple! You do this by signing a Buyers Agency Agreement (see attatched). We commit
to you to work diligently in helping you find your next home. We will make the process simple
and as stress free as possible by sharing with you the “secrets” of buying a home in Las Vegas!
When you come into our office, we will answer any questions you have about these forms and
we will ask you to sign them so we can move forward.
FINANCING YOUR HOME PURCHASE
Do Your Homework When Looking For a Mortgage
A very important part of buying a home is finding the right lender and the right mortgage
product. There are many different kinds of lending institutions offering a wide range of loan
packages. Therefore, it is important to do some research and shop around.
We have access to some of the best lenders in town who have many lending programs that
you can choose from. All of these lenders are experienced and will take you through the
process to help you get a loan that fits your needs.
Getting Pre-Approved
It is recommended that home buyers get approved for a loan with a lender before searching
for a home to purchase. This way, you will have completely reliable information about what
you can afford. Additionally, any offer that you make on a home will be taken much more
seriously if you have been pre-approved than if you haven’t. In fact, in today’s market, sellers
generally will not consider an offer without a pre-approval from a reputable lender.
Other good reasons to get pre-apporved include:
You can determine which loan program best fits your needs and for which you qualify.
You’ll know exactly how much you are approved for. It’s no fun to find your ideal home
and then realize that you can’t afford it.
Your down payment, monthly payment and closing costs will be set so you can budget
your money in advance.
If you are a first-time buyer, you may qualify for a special first-time buyer program which
may allow you to afford more home for your money.
WHAT KIND OF HOME ARE
YOU LOOKING FOR?
The more we know about what kind of home you’re hoping to buy, the more effectively we will
be able to facilitate your search. When you get the chance, please fill in the questionnaire
below so that we will be able to schedule appointments to see homes that fit the profile.
Main Requirements
Price range:________________________________
Area:______________________________________
Single Family or Condo/Townhome:__________
Age of property:____________________________
Pool Y/N:_________
Lot Size:________________________________
Square footage:_________________________
Number of bedrooms:___________________
Number of bathrooms:___________________
Garage:_________________________________
Gated Community Y/N____________________
Specific Features
(Large lot, fireplace, garage size, school district, additional room preferences, etc..)
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Additional Thoughts
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
NEW HOMES
When looking for your next home, you may consider new homes. We have represented many
buyers in their purchase of a new home and we will be happy to help you too.
You need to know that while the agent in the sales office will be happy to work with you, they are
paid by and have fiduciary responsibility to the builder/ seller. We become your advocate in the
deal and we don’t cost you any commission. We are with you throughout the process from finding
the right home, selecting finishes and upgrades, negotiating the incentives and pricing, to signing
papers at close of escrow.
You need to know that the rules about us representing you in a new home transacton are quite
simple. WE MUST ACCOMPANY YOU ON YOUR FIRST VISIT TO THE HOMES OR THE WEBSITE!
Once we do that, we are able to help you every step of the way, but we don’t have to accompany
you every time you go back.
Most builders like to have the buyers of their homes represented, and they do pay us a commission.
That commission does not affect the price you pay.
We also have access to a database that will give you information on all the available new homes in
Southern Nevada.
UTILIZING ALL REAL ESTATE SOURCES
The Internet
A local real estate magazine
A real estate television channel
Another agents marketing materials
Another agents FOR SALE sign
Another agents OPEN HOUSE
Another agents exclusive listing
A “For Sale by Owner” sign
A friend or relative
A new home subdivision advertising materials
There are many different ways that you might find out about properties for sale. For instance:
We just want to emphasize that we can help you buy a home from any of these sources. More
importantly, we will represent your best interests and effectively negotiate the best price and
terms for you.
When you work with us, we search all of the available public and private sources so we can
help you get what you want, in the time you want!
However, if you view a property with another agent, we won’t be able to represent you in
connection with that property. So if you see a sign, an open house, or even hear about a prop-
erty that interests you, please call us first and we will provide you with detailed information
about it, make all the necessary arrangements for viewing it, and then view it with you to
ensure that you don’t in any way compromise your negotiating position.
ZILLOW | TRULIA | Realtor.com
www.BROWNBLANKFELD.com
A full service real estate web-site.
PROPERTIES JUST A TAP AWAY
The Mobility texting platform provides 24-hour instant access on your listing. That’s what we call
“On the Road with Nevada Properties” Mobile texting. Its easy; buyers just send a text to 32323,
then enter the message “PEEK” and get photos of your property, the most current price and
property details instantly! Potential buyers can also dial the number 1-866-464-6588 from any
phone and get a complete voice description on your property in English or Spanish!
Run out of flyers in your box? No problem. With our text sign rider,
buyers will be able to see your properties and info 24/7.
Automatically updated! Property details are automatically pulled
and updated from the MLX so your information is always current!
Your agent will get updates via text or email when a possible
buyer is looking at our property and will be able to respond to any
questions they may have.
Our app will alert interested buyers of open houses and price
changes instantly by text message and get buyers in the door!
Buyers are able to download this feature as the LVHomeSearch
App, allowing them to continue their mobile search, save your
property to their account and send it to a friend! Available in the
iTunes and Google Play stores.
Our website is mobile friendly! Buyers and sellers can enter
BHHSNV.com in any smart phone or tablet to: search for properties,
get property details and photos, Google maps of the area, find more
information about local communities and find an agent. With our full
mobile suite, buyers and sellers are never more than a finger tap way
from a Nevada Properties agent or latest property information!
TEXT “PEEK” to 32323
The Home Buying Process In Southern Nevada
Establish a
Budget
(Lender)
What is the
perfect home
for you?
Search for
Homes
Open Escrow
Counter
Offer(s) and
Negotiation
Preparing an
Offer, Price
and Terms
Due Diligence
(Inspections)
Escrow and
Lenders Work
Final Approval
(CD)
Close of
Escrow
Final Walk
Through
Signing at
Escrow
Moving Day!
Establish a
Budget
(Lender)
Select a lender you can trust. If you don’t have one, we will be happy to recommend several that we
work with on a regular basis.
We highly recommend you select a local lender as out-of-state lenders often don’t have a grasp of
timelines here in Southern Nevada.
Review your financial situation with the lender and establish a budget for both down payment and
monthly payments going forward.
Make sure you explore all your options: Conventional, FHA, VA, etc.
You will be a stronger buyer in a competitve market if you are “Pre-Approved” instead of “Pre-Qualified”.
Buyer closing costs can be paid by the seller in certain situations, but sellers don’t like to pay for your
costs unless they have no other options.
You will need to provide the seller with either a letter from your lender or “Proof of Funds” if you are a
cash buyer.
What is the
perfect home
for you?
Share the details of your perfect home with us and we will search everywhere to find it for you.
We look in MLS, FSBO, New Homes.
We encourage you to look on REALTOR.com, Zillow, Trulia, etc. You may find ideas on homes that
change our parameters.
The home you end up with may be very different from the home you thought you wanted. You just
didn’t know what was available.
When searching for a NEW home, keep in mind that we represent our buyers with builders and
they pay our commission. Our representation doesn’t cost you. The agent in the home center
works for the builder. We work for you.
PLEASE DON’T SIGN IN AT ANY NEW HOME COMMUNITY OR
ANY WEBSITE WITHOUT US BEING WITH YOU.
We will take you on tours of homes and neighborhoods.
If you are moving from another area, we will be happy to show you around the valley to help you
decide which area best suits you and your family.
PLEASE DON’T SIGN IN AT ANY NEW HOME COMMUNITY OR ANY WEBSITE WITHOUT US
BEING WITH YOU.
The home tours are designed to help you select the best home, but often they are utilized to help
you eliminate options.
Keep score and make a lot of notes. The homes sometimes start to overlap.
Search for
Homes
We will prepare all the necessary paperwork for your offer.
We will review the offer and disclosures with you so you understand the documents. Writing too
aggressively sometimes gets a rejection.
We often use digital signing services and these are normally acceptable, but sometimes we will need
actual “wet” signatures.
$$ The earnest money will be deposited upon acceptance of the offer.
Preparing an
Offer, Price
and Terms
Counter
Offer(s) and
Negotiation
Negotiating your contract involves price, terms, disclosures, timing and a lot more.
Normal course in Southern Nevada rarely takes a deal beyond 1 or 2 counter offers.
Open Escrow
$$ Earnest money to be sent to escrow. This is your money and will be returned to you should the
deal not go through based on any of the contingencies. Most deals require the money be wired.
The money is yours and will be credited to you at closing.
The date we open escrow is the start date of all your timelines. (10 days of diligence).
The escrow company acts as a neutral party to see that the monies and paperwork are properly
distributed throughout the transaction.
The escrow company also provides Title Insurance in most transactions.
Due Diligence
(Inspections)
$$ Home inspections are is usually conducted within 10 days of acceptance.
The home inspector will normally point out any areas that may require follow up inspections, (roof,
mold, etc).
The incidence of termites in Southern Nevada is less than 5% of homes, but for the price, it’s good
peace of mind and required in VA deals.
If follow-up inspections or certifications are required , we will ask for sufficient time.
You may have to do a CIC document review. The sellers will provide you with a package of docu-
ments from the HOA for you to review and approve. This is one of your contingencies.
$$ Appraisal is ordered by your lender, but normally paid by you. If it doesn’t come in at value, the
deal may be renegotiated.
You will want to get your homeowners insurance quote at this time too and have a binder sent to
escrow and your lender.
Escrow and
Lenders Work
Once your diligence is complete, the balance of the work involved is done by your lender and the
escrow company.
The escrow officer takes the contract and the lender instructions and turns that into your deal.
The escrow company is normally going to validate title and procure title insurance for your transaction.
Your lender will continute to request items from you. You will need to provide these items to your lender
quickly so they can keep the timelines in the contract.
Delays in the closing usually occur when the lender cannot produce their documents in time and that is
usually because the borrower doesn’t repond to their requests promptly.
Final Approval
(CD)
The Closing Disclosure (CD) must be presented to you at least 3 days prior to signing your loan docu-
ments. If you are a cash buyer, this doesn’t apply.
You will want to continually follow up with your lenders about the delivery of this document as it is
normally the last piece of the lender’s puzzle!
Our team will set an appointment for you to sign your closing document at the escrow office.
We will accompany you to the signing to help you understand the documents and answer any ques-
tions we can.
You will need to bring two forms of legal ID with you.
You will not receive keys until the deal records at the county. That normally takes a day or two after
you sign because the lender will need to review the documents before they are allowed to record.
$$ You will also need to arrange your closing funds to be wired to escrow. Escrow will not accept
checks (even certified) or cash. The wire is not an ACH and you will normally have to physically go to
your bank to arrange it.
Your signing appointment usually takes about an hour and will be during bankers’ hours.
$$ This is also the time we will discuss having the utilities changed in your name and the timing of
that change.
The final walk through is usually within the last 3 days of the escrow period.
You have an opportunity to make sure the home is in the same condition as when you last saw it and that
any repairs made by the seller are to your satisfaction.
We will have you complete a form that our broker provides. We aren’t allowed to write on this document ,
so please understand that we will need you to complete it.
The seller and listing agent may be there and or the sellers stuff might still be in the home too.
Signing at
Escrow
Final Walk
Through
Close of
Escrow
Escrow will close after all of the following is done:
-You have signed all necessary documents (some might be after your signing appointment).
-All the loan documents have been sent back to lender and approved by the lender (this
sometimes requires overnight delivery).
-The lender has wired their funds to escrow (might take 24-48 hours).
-You have wired your funds to escrow (might take 24-48 hours).
-The deed and other documents have been recorded at the county.
Once recording takes place, the home is yours!
Make certain you arrange for mail to be forwarded.
Sellers often won’t allow you to move in early or even place items in the in the garage due to
insurance concerns.
Moving Day!
CONGRATULATIONS!
Movers may need to provide some flexibility as the closing date is open changed in the last days of
the escrow period.
HOME INSPECTION | APPRAISAL
Home Inspection
A home inspection is a limited, non-invasive examination of the condition of a home, often in
connection with the sale of that home. Home inspections are usually conducted by a home
inspector who has the training and certifications to perform such inspections.
We encourage all our our buyers to pay for a home inspection. After the inspection, we are
given a report with issues. Then, you as a buyer can choose to ask for some repairs or cancel
the purchase.
The home inspection and the subsequent request for repairs must be completed within your
diligence timeline (usually 10 days).
Appraisal
A home appraisal is a professional opinion of value based on facts. Your lender will order it and
have you pay for it. It normally takes place within the first two weeks of an accepted offer.
If the appraisal comes in short of the contracted price, negotiations can be opened to proceed
or the deal can be cancelled. The lender will only lend on the appraised amount and whatever
percentage of loan was arranged. When an appraisal comes in light it usally goes one of four
ways:
1. The buyer agrees to pay the difference in cash.
2. The seller agrees to reduce the price to the appraisal amount.
3. The buyer and seller agree on a price between the appraised value and the
contracted value.
4. The deal is cancelled.
5. New rules?
The appraisal can be challenged, but this normally doesn’t result in any change of appraised
value.
HOME WARRANTY |
HOME OWNERS INSURANCE
Home Warranty
A home warranty is a service contract that covers the repair or replacement of important home
system components and appliances that break down over time. A home warranty can help
save you money. It doesn’t cover everything, but it does cover a lot of important elements in
your home. Typically, sellers will provde buyers with a one-year warranty, but not all sellers will
provide one.
The warranty is renewable annually and has a deductible amount applied to each service call.
It can cover:
1. Structural
2. Personal Belongings
3. Liability
4. Short-Term Living Expenses (if your home is inhabitable)
This type of insurance is not just recommended, but required if you use a mortgage to
purchase your home. It may be impounded by your lender and paid by your lender to be
certain your coverage doesn’t lapse. You can choose any insurance agent / company you like.
Shop coverages and costs and be sure you compare apples to apples.
HOA / CIC
HOA/CIC
Homeowners Association or Common Interest Community
Here in Southern Nevada, a vast majority of homes are in communities with an HOA. Some
associations are stricter than others, and some homes have two or even three separate
associations.
You will be given an opportunity to review a package of documents that will let you know
about the associations rules, financial health and other factors you will want to be aware of
as you choose to live in that community. These documents will be provided to you within
the first 10 days of acceptance and you will have 5 days to review and accept them.
HOAs have a lot of power here in Nevada. You should not fall into arrears on your monthly
assessments, or they could foreclose on your home.
WHAT IS AN ESCROW?
An escrow is an independent "stakeholder" account and is the vehicle by which the interests of
all parties to the transaction are protected. The escrow is created after you execute the contract
for the sale of your home and becomes the depository for all monies, instructions and docu-
ments pertaining to the sale. Some aspects of the sale are not part of the escrow. For example,
the buyer and seller must decide which fixtures or personal property items are included in the
sales agreement. Similarly, loan negotiations occur between the buyer and the lender. Your
real estate agent can guide you in these non-escrow matters.
HOW DOES THE ESCROW PROCESS WORK?
The escrow officer takes instructions based on the terms of your Purchase Agreement and the
lender's requirements. The escrow officer can hold inspection reports and bills for work performed
as required by the purchase agreement. Other elements of the escrow include hazard and title
insurance, and the grant deed from the seller to you. Escrow cannot be completed until these
items have been satisfied and all parties have signed escrow documents.
HOW DO I OPEN AN ESCROW?
Either your real estate agent or the buyer's agent may open escrow. As soon as you execute the Purchase
Agreement, your agent will place your initial deposit into an escrow account at the title company
HOW DO I KNOW WHERE MY MONEY GOES?
Written evidence of the deposit is generally included in your copy of the sales contract. The funds
will then be deposited in a separate escrow or trust account and processed through your local bank.
You will receive a receipt for the funds from the title company.
WHAT INFORMATION DO I NEED TO PROVIDE?
You may be asked to complete a Statement of Identity as part of the paperwork. Because many people have
the same name, the Statement of Identity is used to identify the specific person in the transaction through such
information as date of birth, social security number, etc. This information is considered confidential.
HOW LONG IS THE ESCROW?
The amount of time necessary to complete the escrow is determined by the terms of the Purchase
Agreement. It is normally 45 to 60 days, but can range from a few days to several months.
WHAT A TITLE COMPANY DOES
Title Report: A report showing the condition of title before a sale or loan
transaction. After completion of the transaction, a title insurance
policy is issued.
Title Policy: Title insurance is insurance against loss resulting from defects of
title to a specifically described parcel of real property. Defects may
run to the fee (chain of title) or to encumbrances on the property.
PAYS OFF EXISTING LOANS
The title company pays off existing loans when so ordered.
TAXES AND INSURANCE
The title company prorates the taxes and insurance upon instructions from the buyer
and the seller.
COMPUTES INTEREST ON LOANS
ACQUIRES HAZARD INSURANCE
SIGNING OF DOCUMENTS
Assists the buyer and seller when signing documents.
RECORDING DOCUMENTS
The title company records the appropriate documents with the county office, giving
public notice.
DISBURSEMENT
The title company disburses the documents and money to each party involved.
REQUESTS A TITLE REPORT AND POLICY
CLOSING COSTS
Listed below are some typical closing costs you may incur as part of your loan transaction. When you apply
for a loan, you will receive a Loan Estimate of closing costs and settlement charges, and a booklet that
will explain these costs.
Appraisal Fee
Credit Report Fee
Document Preparation Fee
Loan Discount
Loan Origination Fee
Miscellaneous Title Charges
PMI Premium
Prepaid Interest
Taxes and Hazard Insurance
This is a one-time fee that pays for an appraisal. The appraisal is made by
an independent fee appraiser.
A one-time fee that covers the cost of the credit report.
There may be a separate fee that covers the preparation of the final legal
papers.
A one-time fee used to adjust the yield on the loan to what market
conditions demand. This fee often called a ‘point.
The lender's administrative costs in processing the loan are covered by this
fee.
The title company may charge fees for a title search, title examination,
document preparation, recording fees, a settlement or closing fee, and
notary fees.
You might be required to pay an upfront fee for mortgage insurance,
depending on the amount of your down payment. Lenders may also require
monies be placed into a reserve account held by them.
Depending on the time of month your loan closes, this per diem charge may
vary from a full month's interest to that of a few days. If your loan closes at
the end of the month, you will have to pay interest only for a day or so.
You may be required to reimburse the seller for property taxes, depending
on the month in which you close. You will also need to pay a year's hazard
insurance premium up front. Also, you might be required to put a certain
amount for taxes and insurance into a special reserve account held by the
lender.
MOVING EXPENSES
The cost of trips to the area of a new job to look for a home. Your home shopping expedition
does not have to be successful for the cost to be deductible.
The cost of having your furniture and other household items shipped, including the cost of
packing, insurance, and storage for up to 30 days.
The cost of getting your family to the new hometown, including food and lodging expenses on
the trip.
The cost of lodging and 80% of food expenses for up to 30 days in the new hometown, if
these temporary living expenses are necessary because you have not yet found your ideal
home or it is not ready when you arrive.
Certain costs associated with the sale of your old home and purchase of the new one. These
expenses, including real estate commissions, legal fees, state transfer taxes and appraisal and
title fees, could be used either to reduce the gain on the sale of the previous home or to boost
the basis of the new one. However, it's usually beneficial to count them as moving expenses up to
the allowable dollar limits, because that gives you an immediate tax benefit.
When you meet the IRS's definition of a qualifying move, the following items are tax deductible:
TAX DEDUCTABLE MOVING EXPENSES:
MOVING CHECKLIST
Changing Address
Forward address at post office
Credit card accounts
Publications
Bank accounts
Utilities to cancel
Telephone, check for refund
Gas & electric, check for refund
Water, check for refund
Garbage
Cable, check for refund
School transcripts for kids
FORMER RESIDENCE
Moving Preparation
Defrost refrigerator
Auto transportation needs
Pet transportation needs
Travel cash or checks
Hand carry jewelry and valuables
Leave keys
Leave garage door opener
Medical services to obtain
Medical records
Dental records
Veterinarian records
NEW RESIDENCE
Changing Address Government Licenses & Services
Utilities
Ask postman to hold mail for your arrival
Apply for state driver's license
Register car
New address on driver's license
Register to vote
Register children in school
Telephone; new number_____________________
Gas
Electric
Water
Garbage
Cable
Medical Services
New doctor
New dentist
New veterinarian
2016 Statistics
Single Family Home
Average Sales Price $232,235
Median Square Footage 2,03
Owner Occupied 55%
Condo / Townhouse
Average Sales Price $
,303
Median Square Footage 1,221
Owner Occupied 27%
Avg Monthly Apartment
Apartment Rental $
Square Footage 900
How Old are the Homes?
0-12 mos. 7.6%
1-5 years 27.8%
6-10 years 18.9%
11-15 years 12.2%
16-20 years 11.3%
21 or more 22.2%
2005
2008
2009
2010
2011
Clark county population
1,796,380
1,
1,
2,
2,036,358
1,966,630
1,
,837
2012
2,008,716
2006
2007
2013
2,000,759
2014
2,000,750
The latest population prediction in the Las Vegas
Valley is 2.7 million people by 2020.
NV Energy Electric Service $125
Southwest Gas Natural Gas $36
Century Link Telephone $32
Municipal Services Water, Sewer, Trash $53
Cox Communica Cable TV $17
Cox Communica HighSpeed Internet $22
*Averages are based on the cost for basic services and do not include upgrades or taxes.
THE VEGAS LOWDOWN
AVERAGE UTILITIES
ResourceFacts
UTILITIES
SANITATION, WATER, SEWER, DISPOSAL ELECTRIC, GAS, DISPOSAL
CABLE
CITY OF HENDERSON UTILITY SERVICES
CLARK COUNTY SANITATION DISTRICT
5857 E. FLAMINGO RD. LAS VEGAS, NV 89122
702-458-1180
CLARK OF NORTH LAS VEGAS WATER,
SEWER & GARBAGE
P.O. BOX 4086 NORTH LAS VEGAS, NV 89030
702-633-1484
CITY OF LAS VEGAS SEWER SERVICES
3RD FLOOR, HALL 400 E. STEWART AVENUE
702-229-1289
LAS VEGAS VALLEY SEWER SERVICES
1001 S. VALLEY VIEW, LAS VEGAS, NV 89153
CUSTOMER SERVICE: 702-870-4194
COX COMMUNICATIONS
121 S.MARTIN L. KING BLVD. LAS VEGAS, NV 89106
702-383-4000
CITY HALL OFFICE
240 S. WATER ST., ROOM 207
HENDERSON, NV 89015
702-267-5900
NEVADA POWER COMPANY
6226 W. SAHARA AVE., LAS VEGAS, NV 89102
24-HOUR CUSTOMER SERVICE: 702-367-5555
PARA SERICIO EN ESPANOL: 702-367-5554
TOLL FREE: 800-331-3103
TDD: 702-367-5080
SOUTHWEST GAS CORPORATION
4300 W. TROPICANA AVE., LAS VEGAS, NV 89103
CUSTOMER SERVICE: 702-365-1555
GENERAL OFFICES: 702-876-7011
REPUBLIC SERVICES OF NEVADA
770 E. SAHARA AVENUE. LAS VEGAS, NV 89104
GENERAL OFFICE: 702-735-5151
PHONE
EMBARQ TELEPHONE COMPANY
RESIDENTIAL PHONE SERVICE
330 S. VALLEY VIEW BLVD. LAS VEGAS, NV 89107
CUSTOMER SERVICE: 702-244-7400
ACM, INC.
605 OAKMONT DRIVE., SUITE 2402
LAS VEGAS, NV 89109
CORRECT NUMBER?
MGC COMMUNICATIONS
3301 N.BUFFALO ROAD LAS VEGAS, NV 89129
702-310-3100
NEVADA TELEPHONE
1700 S. MAIN ST., LAS VEGAS, NV 89104
702-648-18630
PROCELL ELECTRONICS
4685 E. CHARLESTON BLVD. LAS VEGAS, NV 89104
702-457-8111
LAS VEGAS
METRO AREA
ZIP CODES
89124
89165
89161
89015
89005
89166
89115
89122
89052
89131
89141
89138
89119
89044
89129
89149
89179
89012
89118
89139
89110
89123
89031
89032
89108
89117
89030
89074
89121
89178
89086
89087
89084
89085
89014
89081
89120
89147
89134
89103
89156
89107
89142
89113
89135
89148
89130
89183
89128
89101
89106
89102
89104
89146
89144
89145
89143
89011
89004
89002
89124
89124
89124
89054
89109
89169
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Map Prepared by the Department of Information Technologies,
0 1
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Miles
City Boundaries
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Zip Code Boundaries
UNINCORPORATED
CLARK COUNTY
NORTH LAS VEGAS
HENDERSON
CITY OF
LAS VEGAS
BOULDER CITY
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Lake Mead
City of Las Vegas
North Las Vegas
Henderson
Boulder City
Clark County
GIS maps are normally produced
only to meet the needs of t he City.
Due to continuous development activity
this map is for reference only.
City of Las Vegas
Path: V:\ArcGisProjects\Internet _Maps\Apr_2013_mxd_internet_maps\zipcode_area_8_5_x_11.mxd Date: 4/9/2013
GLOSSARY OF TERMS
Adjustable Rate Mortgage (ARM) A mortgage with an interest rate that changes over
time in line with (ARM) movements with the index.
Adjustment Period
Agency
Amortization
Annual Percentage Rate
Application Fee
Assessed Value
Assumption of Mortgage
Balloon Payment
Beneficiary
Buy Down
Cap
CCR’s
Period of time between interest rate changes on an
ARM. For example, a loan with an adjustment period
of one year is called a one-year ARM, which means
the interest rate can change once a year.
A legal relationship in which someone (principal) hires someone
else (agent) to represent them to a third party.
Repayment of a loan in equal installments of principal and interest
rather than interest only payments
The total finance charge (interest, loan fees, points expressed as
percentage of the loan amount).
A fee to cover some of the charges of the loan process.
The value placed on property by the Appraisal District as a basis for taxation.
A buyer’s agreement to assume the liability under an existing note secured
by a mortgage or deed of trust. The lender must approve the buyer to assume
the loan.
An instance in which the final installment payment on a note is greater than
the preceding payments, and pays the note in full.
The recipient of benefits, often from a deed of trust; usually the lender.
A fixed-rate loan where the interest rate and payment are reduced for a
specific period of time by paying the interest up front to subsidize the lower
payment
The limit on how much the interest rate or monthly payment can change,
either at each adjustment or over the life of the mortgage.
Chain of Title A history of conveyances and encumbrances affecting the property title.
Covenants, Conditions and Restrictions. A document that controls the use,
requirements and restrictions of a property.
GLOSSARY OF TERMS, CONTINUED...
Closing Statement The financial disclosure statement that accounts for all
of the funds received and expected at the closing of the
escrow, including deposits for taxes, hazard insurance
and mortgage insurance..
Conventional Mortgage
Convey or Conveyance
Courier Fee
Credit Report Fee
Deed
Deed of Trust
Disclosure
Discount Points
Due on Sale Clause
Earnest Money
Encumbrance
Escrow
A mortgage securing a loan made by investors without
government underwriting– that is, not FHA insured or VA guaranteed.
Process of transferring ownership of property from one person to another.
Charges for delivery.
Assessed by the lender for a required credit report from a credit bureau.
A document which, when properly executed and delivered, conveys title of
real property.
An instrument used in many states to place a mortgage.
To make known or public. When dealing with real property, all disclosures
should be made in writing.
A negotiable fee paid to the lender to secure financing for the buyer. Discount
points are upfront interest charges to reduce the interest rate on the loan over
the life, or a portion, of the loan’s term. One discount point equals one percent
of the loan amount.
An acceleration clause that requires full payment of a mortgage or deed of
trust when the secured property changes ownership.
Money deposited by a buyer as evidence of good faith.
Anything that affects or limits the ownership of real property, such as
mortgages, liens, easements or restrictions of any kind.
Escrow Fee
Charged by the title company to service the transaction and to escrow money
and documents. Usually paid by the buyer.
The deposit of documents and funds with instructions to a neutral third party
to carry out the provisions of an agreement or contract.
GLOSSARY OF TERMS, CONTINUED...
Exclusive Right to
Sell Listing
A written agreement between owner and agent
giving agent the right to sell a property and collect
a fee for a set term.
Fair Market Value
Fannie Mae
Freddie Mac
Ginnie Mae
Finance Charge
Impound Accounts
Legal Description
Lien
Loan Origination Fee
Mortgage
Mortgagee’s Title Policy
Points
The price at which a willing seller would sell and a willing buyer would
buy, neither being under abnormal pressure.
A private corporation dealing in the purchase of first mortgages, at discounts.
A mortgage that has a rate that is adjusted at certain intervals during the loan
period. The adjustment can either be higher or lower depending on the current
market rate at the time adjustment is due.
A federal association, working with FHA, which offers special assistance in
obtaining mortgages, and purchases mortgages in a secondary position.
The total cost a borrower must pay, directly or indirectly, to obtain credit.
A trust type of account established by lenders for the accumulation of borrowers
funds to meet periodic payments of taxes, mortgage insurance premiums and / or
future insurance policy premiums, required to protect their security.
A description of land recognized by law, based on government surveys, spelling
out the exact boundaries of the entire piece of land. It should so thoroughly
identify a parcel of land that it cannot be confused with any other.
A form of encumbrance that usually makes a specific property the security for
the payment of a debt or discharge of an obligation. For example, judgments,
taxes mortgages and deeds of trust.
Normally 1% of the loan amount, charged by the lender to the buyer.
A legal document that provides security for repayment of a promissory note.
Required by lenders to ensure that the lender has a valid lien. It does not
protect the buyer. Also required for second mortgages.
Owners Title Policy Insures the buyer against loss due to any defect of the title not excepted to or
excluded from the policy.
Paid by the buyer or seller. One point is equal to one percent
of the loan amount.
GLOSSARY OF TERMS, CONTINUED...
Principal The employer of an agent in an agency relationship.
Recording Fee
Septic Inspection
Survey
Tax Service Fee
Termite Inspection
Time is of the Essence
Title Policy
Title
Underwriting Fee
VA Funding Fee
Warehouse Fee
Charged by the County Clerk to record documents
in the public records. Charges are based on number
of pages recorded.
The septic system must have certificate by the city or county health department.
Survey of property required by lender; shows lot size, easements, any
encroachments, locations of improvements, etc.
Required by the lender for collection and disbursement of tax escrow by a
servicing company.
Required by lender to show property free and clear of active termites.
Demands punctual performance in a binding contract.
Insurance policy on the ownership of real property, against defects in title.
In dealing with Real Property, title means ownership.
Charged by a lender to underwrite the loan.
Veteran’s Administration charge for originating a VA loan.
Charged by the lender to hold the loan locally before selling it in the secondary
mortgage market to an investor.
Zoning Act of city authorities specifying type of use for which property may be used.
“A HOME IS ONE
OF THE MOST
IMPORTANT ASSETS
YOU WILL EVER BUY.”
WARREN BUFFETT, CHAIRMAN AND
CEO OF BERKSHIRE HATHAWAY
OUR COMMITMENT TO YOU
As you’ve seen from this presentation, there are many factors that go into the successful
purchase of a home. That’s why, as your buyers agent, our job is to help you find the right
home and buy it at the best possible price and terms.
We will also educate you about market trends, purchasing options and more, so you can
make the most informed decisions possible. In addition, you’ll have the benefit of our exten-
sive professional network, developed through years of experience. So if you need additional
home services, you’ll be guaranteed of getting quality work at a competitive price. And the
great thing is that our commissions are paid by the home seller.
In short, we will provide you with comprehensive, high-quality buyer’s service, from helping
you with the home search, to negotiating an acceptable price; to making sure that every-
thing’s signed, sealed and delivered on closing day.
That is our commitment to you and we look forward to being of service.
Respectfully,