the home buying process in puerto vallarta, mexico
DESCRIPTION
All the basic information about aquiring a second or retirement home in Puerto Vallarta and Riviera Nayarit, Mexico. Brought to you by Marilyn Newman, Realtor in Puerto Vallarta.TRANSCRIPT
The Home
Buying Process
Everything You Need to Know
From A to Z
About You
• We want to help you the best way we can. Please tell us a little bit about you.
– What are you looking for in a property?
– How do you plan to use it?
– Who will be using the property beside you?
– When are you planning to make your purchase?
– Where will your money come from?
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Vallarta
Market
• The Market continues to be strong
• It is a Buyer’s market
• By the end of the 2012/2013 high season prices will be increasing
• Limited Supply and High Demand are already here!
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Vallarta
Market Condition
• Once you find a home you like, we can show you the market conditions for that community
– Average sale price
– Average days on the market
– What similar style properties have sold for
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Inventory
•They are called “The Best Homes” because they are the best homes!
– Homes can sell very quickly in this market
– Homes that have been on the market for a long time can be sold at anytime
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Pre-Approval
•Know what price range you can buy.
•Receive Good Faith Estimate
– Shows the estimated cost you will need to close
• Increases your negotiating power when you find the home you want
– Especially in multiple offer situations
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How Will You Be
Represented
• You have the right to have an agent working in your best interest
• If you are committed to us, we are committed to you
• Advise you throughout the transaction
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Vallarta
Multiple List Service
•Know about homes before they are available on line or in newspapers or homes magazines
• Instant Notification Program
– Our commitment it to ensure you know about the homes that match your wants and needs as soon as it is available
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Vallarta
New Construction
• It’s fun to shop, but it may cost you your right to be represented
– Many subdivisions will have you log in
– On site agents work for the developer or builder…not you
• Use our name when you register
• Contact us to get you more information about the subdivision
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Vallarta
Looking for Your Next
Home
• Don’t be surprised if the first home you see is the right one
• Go with your gut feeling
• Don’t be concerned about Buyer’s remorse
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Vallarta
The Contract
• If you find the right home today, are you ready to write a contract?
• Familiarize yourself with the contract
• Make your best offer first
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Earnest Money
• Make sure you have 10% of your purchase price liquid and available to deposit to escrow
• 50% of the closing costs must be paid at the same time as the deposit to your escrow account
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Inspections
•We recommend you get an inspection
•Can renegotiate contract
–Remember this is only for major items
–You will have a ‘honey do’ list
•You will pay at time of inspection
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Inspections Inspections and potential repairs are the number one reason sales don’t close. Typically, buyers have a certain number of days in which to inspect the property and accept or reject the property based upon these mechanical and structural inspections.
SELLER
SEES THEIR HOUSE
INSPECTOR
SEES THE HOUSE
BUYER
SEES YOUR HOUSE
Save Yourself Time, Money and Disappointment
Do Deferred Maintenance Now!
Marilyn Newman Realtor
Vallarta
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The Appraisal
• Only required if you are getting a loan
• Uses similar information to market analysis
• If it doesn’t appraise for contract price, you have 3 options
– Look for another Property
– Pay the difference
– Re-negotiate your Purchase Price
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Final Loan Approval
• During the process, DO NOT:
– Purchase big items with loans
– Do anything that requires running your credit report
• An underwriter reviews your file and credit for changes a few days before closing
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The Closing
• Most Notario offices are open Monday-Friday 9am-6pm
• You will need to plan about 2 or 3 hours for signing
• Bring your Passport
• Required funds for closing must be certified funds or deposited to the escrow account prior to closing
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Reaching Your Goal
• We want you to be happy in your new home
• Don’t keep us a secret, tell everyone you know how we did
• Send your agent a testimonial letter!
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The Benefits of a Team
• Seven heads are better than one!
• Someone is available when you need us
• It doesn’t cost you any more to have the best
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Consultant Vs. Agent
Fiduciary (Consultant)
• Advises and Consults
• Educates and Guides
• Involved in Decision
Process
• Uses Judgment and
Experience
• Irreplaceable
• Highly Compensated
Functionary (Agent)
• Delivers Information
• Tells and Sells
• Stays out of Process
• Follows the Rules and
Procedures
• Replaceable
• Minimally Paid
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Referrals
• Our main goal in this relationship is to blow your socks off…we want you to tell others about The Prudential Team!
• The majority of our business comes from referrals…your referrals are the life blood of our business
• Thank you in advance for everyone you refer to us
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Most Importantly
HAVE
FUN!
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Vallarta
About Prudential California
Realty-Vallarta Division
Prudential FACTS:
• At “Prudential Vallarta,” we will always work for your best interests. Why? Because your interests
are aligned with our own: your success is our success.
•Our Property Searches will provide access to all of the properties and developments available for
sale in the area.
•Your Prudential Vallarta sales professional will guide you through the exciting process of scouting
out the areas and properties that will suit your needs, while also providing you with excellent
relocation tips and the “ins and outs” of living in this fabulous region.
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The Prudential Philosophy
Win-Win — or no deal
Integrity — do the right thing
Commitment — in all things
Communication— seek first to understand
Creativity — ideas before results
Customers — always come first
Teamwork — together everyone achieves more
Trust — starts with honesty
Success — results through people
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Name: Marilyn Newman
Professional Designations: •Internet Specialist (ePRO) •Certified International Property Specialists (CIPS) •Mexican Association of Real Estate Professionals (A.M.P.I.) •Pretty Nice Person (PNP) Languages: English and Spanish Family: Love to Spend as Much Time as Possible with my husband, Gary, and my 2 cats Boo and Raider Hobbies: Reading and yoga
My Biography
Your REALTOR
26 Marilyn Newman Realtor
Vallarta
Address: Holiday Inn, Local 1-A, Puerto Vallarta,
Jalisco Mexico
Phone: 322 226 2690
URL/Website: www.prurealtypv.com
Year Opened: May 1, 2003
Your Primary Agent: Marilyn Newman
Mobile: 52.1.322.306.0534
URL/Website: www.RealtorVallarta.com
e-mail: [email protected]
Our Office
27 Marilyn Newman Realtor
Vallarta