Buyers Guide
Home Equity
There are both financial and emotional benefits to owning a home. After all, a home is the center of your world. When you own a home, you are investing your money into your future. Home equity has the ability to increase each time you make your monthly payments, as well as when you make smart home improvements. In a strong economy, home values can increase each year. The greater your equity, the more you can capitalize on your home’s value over time.
buyer’s guide |
The Power of Investing in Ownership
0{{page}}
02.
03.
01.
04.
Review Comparable Sales
Choose The Right Advisor
Start Your Home Search
The Home Buying Process
Write Your Offer
06.
Getting Pre-Approved
Review Disclosures
05.
Meet Your Success Team
When considering buying a property, it is essential to work with true market experts who take the time to understand your unique real estate goals. Engel & Völkers advisors are known for their unparalleled professionalism and their dedication to providing high-quality, personal service. These characteristics are evident among all Engel & Völkers real estate advisors in local markets across the globe. Each of our advisors is devoted to the core values of competence, exclusivity and passion, as they represent a luxury, global real estate brand with over 40 years of brand heritage and experience. Engel & Völkers advisors are leaders in their local markets with knowledge and valued connections that help maintain our consistent leadership internationally. Through periods of both strong economic growth and in less certain times, Engel & Völkers has maintained consistent success in advising clients to find the perfect home, and we look forward to serving you.
With a profound background in the realm of luxury hospitality, Ally Richardson's professional journey includes working at world renowned establishments, including the award-winning Hotel Villagio and the prestigious Napa Valley Reserve. Immersed in the allure of Napa Valley's premier private wine estate, founded by the esteemed William Harlan, she masterfully honed her skills in providing unparalleled service and cultivating meaningful connections. With this background, Ally truly comprehends that real estate goes beyond mere transactions; it's an opportunity to forge lasting relationships with her clients. Her genuine care for their financial goals and aspirations drives her dedication to helping them achieve wealth through the path of homeownership. Regardless of her clients' budget or price range, Ally believes that each one deserves nothing less than the finest white glove service. Such a commitment to excellence sets her apart and makes her a trusted partner in the pursuit of real estate dreams. Ally's reputation as a go-getter precedes her. A tenacious powerhouse, she stops at nothing to provide her clients with an exceptional real estate experience from start to finish. Her resourcefulness in finding answers to complex questions is unmatched, ensuring that her clients are well-informed throughout the entire transaction. Additionally, with her dedicated team of professionals at Engel & Volkers, Ally has developed a winning formula for pricing homes and negotiating on behalf of her clients. Drawing upon her deep ties within the community, Ally's passion for Napa Valley is rooted in her upbringing in this vibrant town. She is proud to call this picturesque region her home, where she and her husband are raising their son and daughter. Beyond her professional achievements, Ally believes in giving back to the community that has given her so much. For every closing, she donates a portion of her earnings to supporting Napa's Ripple Effect Animal Project, a foster-based rescue run by dedicated volunteers. This reflects her compassion not only for her clients but also for the community she calls home. Ally's commitment to integrity, honesty, and fulfilling her clients' needs sets her apart in the industry. Her dedication to service has earned her recognition, including a nomination for Best Real Estate Agent in the Napa Valley Register's Annual Napa Valley Finest. However, it is her client's satisfaction that truly speaks volumes. When you choose Ally Richardson as your Realtor, you can expect a personalized, professional, and personable experience. Her commitment to your success and tireless efforts to exceed your expectations make her the ideal partner in your real estate journey. Contact Ally today to embark on a rewarding and seamless experience in buying or selling your luxury property in Napa Valley.
Ally Richardson Global Real Estate Advisor – +1 707 337 1505 AllyRichardsonNV@gmail.com DRE# 02123122 AllyRichardsonRealEstate.com
Melanie Muters Director of Concierge Services ChampionRichardsonTeam.EVRealEstate.com DRE# 01947758 | DRE# 02123122
Jenn Nemeyer Transaction Manager
Toni Rosenbrand Marketing Coordinator ChampionRichardsonTeam.EVRealEstate.com DRE# 01947758 | DRE# 02123122
Cathy is a skilled professional with over 15 years of graphic design experience, a decade focused on web design and development, and 7+ years specializing in luxury real estate marketing. She is an integral part of the marketing team and channels her passion for art and design to create distinctive multimedia content for each listing. On the weekends you'll catch Cathy and her two daughters running around West Sonoma County.
Cathy Tullysmith Marketing Manager ChampionRichardsonTeam.EVRealEstate.com DRE# 01947758 | DRE# 02123122
Toni is a dynamic and gifted professional with an eye for detail and is an organizational wizard! She loves to decorate, craft and create. These skills translate into beautiful marketing material! If it’s pretty (and if it has glitter) it’s likely that Toni created it! While Toni may operate behind the scenes of my business, she is an integral part of my success and I love and appreciate all of her contributions.
Melanie has been living in the Napa Valley for decades and invested in the community. Her priority in Real Estate is to stay educated on all aspects of the business, guiding clients to the best possible outcome for their future. She brings 17 years of knowledge, experience and a high level of service to each person she has the privilege of working with. She is currently using her decades of real estate experience to assist in operations, protocol and systems for Engel & Völkers Gestalt Group. She is currently working as the Director of Concierge Services across 7 states and 42 shops.
Jenn Nemeyer brings over nine years of industry experience to our team. Jenn understands the real estate process and helps provide the operational support that Realtors and brokers need to thrive. Her passion is helping agents succeed by providing the tools and guidance that drive them to the top.
58 Chapel Hill Rd 3 BD | 1 BA | 1,261 SQFT $825,000
6809 Pope Valley Rd 3 BD | 3 BA | 2,796 SQFT | 5 AC $1,000,000
3525 Young Avenue 3 BD | 2 BA | 1,803 SQFT $935,000
Recent Sales
Click or Scan Here For More!
Testimonials
124 Montecito Blvd 4 BD | 2 BA | 1,765 SQFT $1,350,000
I cannot make enough positive comments about my experience with Ally. In a relatively short time, she helped us sell our vacant lot in Napa in a subdued market. Our initial meeting was thorough during which she set realistic expectations and conveyed sincere enthusiasm and optimism for achieving our objectives. Along the way she targeted potential buyers, kept us updated on activity, fine-tuned our strategy and marketing collateral as needed, and responded quickly to potential buyers. Communications were always clear and pro-active. I would not hesitate to trust her again with my real estate needs. - Christopher Mann
1056 Woodside Drive, Napa 3 BD | 2 BA | 1,980 SQSF $1,995,000
24 Emperor Way 3 BD | 3 BA | 2,777 SQFT $1,528,500
5410 State Hwy 128 4 BD | 2 BA | 46 Acres $3,075,000
Ally was a true savior when it came to our house hunt. We had been passively searching for a house in Napa for two years so weren't too serious about it, but of course life changed for us in an instant and we had to start searching seriously in weeks time. That's where Ally stepped in and showed us our house and in one week, we had our offer accepted! Did I mention we were competing against an all cash offer and another strong offer? Why did the buyers choose us? Because the listing agent said they were really grateful for the amazing communications with Ally and how she was always prepared with the right documents and information. So it wasn't us the buyers chose, but Ally! We truly appreciated Ally being so patient and walking us through every step of the very convoluted and overwhelming process. She was never pushy, and always laid out all the options for us to make the best choice for us. We truly had a dream team, and were able to close in 12 days. We wouldn't be getting the keys to our home tomorrow if it wasn't for the diligence and dedication, that Ally brought to the whole experience! Choose to work with Ally, you won't regret it :) - Michelle Vidensek
26 Chapel Hill Rd 5 BD | 4 BA | 4,616 SQFT $2,000,000
We met Ally by chance and I can’t tell you how happy we have been to work with her. In working with Ally we new she was always putting us first and working with us to find a perfect spot. We went from a simple deal to a much more complex purchase and she helped to guide us and bring in experts when and were needed. We would work with Ally any day! - Karen Lisowski
1350 Regal Drive, Napa 4 BD | 5 BA | 4.457 SQSF $2,000,000
Breaking it Down: The Buying Process
{{page}}
The reasons for buying a home are personal, so the first thing to consider is what you want to achieve in purchasing a home. Buying a home is filled with both strategic thinking and emotions. With ever-changing market conditions and other variables, various factors may affect the path you take in finding the property that’s right for you. As your consultant, an Engel & Völkers advisor helps you understand the market landscape and determine, based on your goals, if now is in fact the right time to buy and then identifying the correct approach. As far as the property itself, it’s wise to invest the time to outline the key factors and features relating to your search.
Property Buyers PRESENTATION
Engel & Völkers
Market Knowledge Buyer's agents are familiar with local real estate markets and can provide valuable insights into current trends, property values, and neighborhood dynamics. Negotiation Skills Experienced buyer's agents are skilled negotiators who can help you secure the best possible deal. They can negotiate on your behalf to get a fair price and favorable terms. Access to Listings Buyer's agents have access to multiple listing services (MLS) and can help you find properties that match your criteria more efficiently than if you were searching on your own. Save Time and Effort By outsourcing the property search to a buyer's agent, you can save significant time and effort. They can narrow down options based on your preferences, schedule showings, and handle paperwork. Objective Advice Buyer's agents work for you and have your best interests in mind. They can provide objective advice, helping you make informed decisions without being influenced by the seller or their agent.
Hiring a buyer's agent can offer several advantages to individuals looking to purchase a property. Here is a list of reasons why hiring a buyer's agent can be beneficial to you.
Legal and Contractual Expertise Real estate transactions involve complex legal documents. A buyer's agent can guide you through the paperwork, ensuring that all the necessary documents are properly completed and submitted. Professional Network Buyer's agents often have a network of professionals, including inspectors, mortgage brokers, and real estate attorneys. This can be valuable in streamlining the buying process and connecting you with trusted service providers. Understanding of the Buying Process If you're a first-time homebuyer or unfamiliar with the buying process, a buyer's agent can educate you on the steps involved and provide guidance at every stage. Property Evaluation Buyer's agents can assess properties based on your specific needs, preferences, and budget. They can point out potential issues and help you make an informed decision about the property's value. Streamlined Communication Acting as a buffer between you and the seller's agent, a buyer's agent can facilitate communication, ensuring that your interests are protected and that negotiations remain professional. Risk Management A buyer's agent can help you identify potential risks associated with a property and advise you on how to mitigate them. This includes issues related to the property condition, legal aspects, and potential resale challenges.
The Value of the Buyer's Agent
Buyer Broker Agreement
What are my fees? I do not get compensated until you get the keys to your new home. I will partner with you to find the right property and get you from contract to closing. It is the responsibility of the buyer to pay for the real estate services provided by myself & my brokerage; however, some sellers will cover some or all of my real estate fees. In the event the seller is not covering the full fee we agree upon, you will be responsible for the difference.
My commitments to you I will uphold a fiduciary duty to you of utmost care, integrity, honesty, and loyalty. I will fulfill my duty to you by providing honest and fair dealing and acting in good faith. I will disclose all facts known to me that materially affect the value or desirability of a property I will make every effort to locate properties with your criteria through my networks & marketing efforts. I will provide you with expert knowledge of the current local market. I will guide you through the entire process from pre-approval through closing. I will use my years of experience & market reputation to help you submit offers superior to the competition. I will handle all communication & negotiations throughout the transaction. I am known for my exceptional responsiveness, always prompt and attentive to any communication. I will be the first point of contact for all prospective sellers. I will commit to giving you my honest feedback on your search criteria as well as the soundness of any investment. Depending on your search criteria, there may be times when urgency is necessary. In the event you cannot attend a showing, I can go & record a video walkthrough for you. In the event that I am unavailable, I have a colleague I am partnered with to assist with showings. Once your offer Is In contract, I will coordinate and attend all Inspections. I will be the point of contact for the listing agent, your lender, title & Escrow officer, and all other parties who may be Involved In the transaction..
What happens when we find the house? Understanding that money & finances are the most important part of making this decision, I want to make sure you feel comfortable with your numbers. Before writing an offer, I will partner with your lender and escrow officer to provide you with estimated closing statements, including any real estate fees based on what the seller is currently offering.
Buyer Loyalty Agreement If you want more information on a house, reach out to me. Do not call signs or click on website links for information. This will bring you to another agent. If you discover a home that is off market or for sale by owner (FSBO), let me be the first point of contact with the seller. Call me before visiting new construction. We will walk through the model home together. If you speak to a builder's representative, be sure to tell them I am your Realtor. Feel free to attend open houses, but let them know I am your Realtor. I will give you my business cards to hand to them. Many listing agents require a pre-approval letter from a reputable, local lender prior to any home viewings. I will partner with you to get this letter prior to any home viewings.
Good faith deposit is due
Open Escrow
Review of all disclosures and mandatory reports
The Buying Process
Letter of pre-approval provided by lender
©2024 Engel & Völkers. All rights reserved. Each brokerage is independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.
Choose an Engel & Völkers Advisor
Find a home
Removal of contingencies
Once approved you will be ready to make an offer
Physical inspection is performed
Make an offer
Complete formal mortgage Pre-approval
Appraisal
Verification of property condition
Close of Escrow
Create your new home wish list
Financing Structure
Offer is accepted
Loan/Cash funding
It's important to know that the bank is going to want to see a lot of paperwork. Preparing for this in advance will make the process so much smoother when you're going through it. Here are a few things to start getting together: + Personal tax returns for the past 2 years + Your most recent pay stubs+ + Bank statements + Credit card and other loan statements + W2 forms and previous addresses
Start Gathering Paperwork
Your credit score is a big variable in finding out which type of loan is best fit for you and some lenders may not offer the specific loan you need. Use a mortgage calculator to get an idea of what your budget will look like for your home. In addition, do some research on the various loan options (i.e., VA, FHA, Conventional). Once you have an idea of which loan is right for you, this will be beneficial for you to look at sample rates, costs, and fees you will be responsible for upon closing.
Re-evaluate your budget based on pre-approval.
Know which types of loans are available.
Shop for a lender.
To ensure you are able and ready to buy a new home, a mortgage pre-approval letter is the next best move to make. This tells the seller you are serious about buying a home and making an offer. Here are a few points to consider when going through this process:
Get Pre-Approved
You are required to provide all documents needed to verify your monthly and annual income. This includes tax returns, W-2 forms, 1099s, and rental income you may have. Some bank statements, statements from the IRA, list of debts, rental history, court orders, alimony payments, bankruptcy, and foreclosure records may also be required.
Gather necessary documents for pre-approval letter.
1. Scan this QR code to download a linIk to my Advisor webpage. 2. Start searching for homes in your preferred area. 3. Save the homes you love and request a showing directly through the website. 4. Contact me directly to request more information. Or, you can visit AllyRichardsonRealEstate.com to search for homes in your area.
You will want to look around for different lenders based on your financial needs. It is a good idea to do some research on multiple companies, what they offer, what their customer satisfaction rate is, as well as other factors to effectively compare which is right for you. Getting several quotes from different lenders may pay off substantially in the long run. Your advisor can provide recommendations as well.
Make An Offer
To write the perfect offer, your real estate advisor is your best asset for this step. They have the knowledge and negotiation skills to ensure you are writing a competitive offer yet still getting the best deal around.
After finding the home you love, be ready to put an offer on the table as soon as possible. During this step, you need to move quicker than you may expect. It is imperative that you understand the current state of the housing market in the area you are looking in. Use market reports, comparative analysis' on similar homes, do your research before coming to the table with a solid offer.
+ Appraisal to take place within the specified timeframe of contract – typically 17 days, unless otherwise specified during negotiations. + Further negotiations can occur during this time period if the appraisal comes back at a lower value than the contract price.
1. Earnest Money Depost
Earnest money, or good faith deposit, isa sum of money you put down to demonstrate your seriousness about buying a home. In most cases, earnest money acts as a deposit on the property you're looking to buy and is typically transferred to escrow within 3 days of acceptance .
+ Signing of documents (loan, title, deed), & any remaining paperwork) usually occurs in person, at the title company. In certain circumstances, a notary can be hired to meet clients for signing. Deed transfer: Once signed by both buyers & sellers, title company will submit to county.
+ All inspections, investigations, and review of disclosures to be completed within the defined timeline in contract, typically 17 days, but often less if negotiated. + Agent to order and schedule any buyer inspections (if applicable). + Further negotiations regarding seller credits or price reductions can occur during this time if buyer discovers issues with the home that need to be negotiated.
6. Final walk through To be completed within 5 days prior to closing
+ To be completed within contracted timeframe - typically 17 days, unless otherwise specified during negotiations. + Depending on conditions of loan, the lender may require ongoing documentation of financials and income status throughout the course of underwriting and final approval of the loan. + Upon final loan approval, lender will order closing disclosures.
2. Investigation Contingency / Inspections
2. Investigation Contingency (if applicable)
1. Earnest Money Deposit (EMD) In escrow within 3 days of acceptance
+ Instructions for transferring funds, or delivering the check to escrow, will come directly from the title and escrow officer.
3. Lender to order appraisal (if applicable)
4. Final loan approval (if applicable)
7. Close escrow Occurs upon deed transfer recording with the county 8. Get keys & move in!
We want to make sure you know what you are getting yourself into when purchasing a home. These steps are imperative in the case that things pop up unexpectedly that you may not be able to see on the surface. If there is something that comes up, you may need to renegotiate the terms previously set. Although these steps are additional costs to you, it may save you more money and issues in the future. Inspections are a good idea in the circumstance that there any issues with the home that the seller did not disclose. These can be issues regarding the foundation of the home, the roof, electrical system, HVAC system, plumbing, or septic system. In Utah, it is recommended to also have radon and termite inspection. It is a good idea to have a licensed professional come by to inspect the home before continuing the home buying process.
Buyers Transaction Timeline Once offer is accepted
5. Signing documents
Signing of documents (loan, title, deed), & any remaining paperwork) usually occurs in person, at the title company. In certain circumstances, a notary can be hired to meet clients for signing. Deed transfer: Once signed by both buyers & sellers, title company will submit to county. The Bottom Line: Closing Documents Seal The Deal On Your Home Purchase
3. Appraisals
5. Signing Documents
Appraisals are a bit different. While inspections establish the particular condition the home is in, appraisals aim to establish how much the home is worth. This is based on a variety of factors including current market trends, comparative properties (similar homes selling within the last 90 days), inspections, condition of the property, and features of the home. If the home is appraised at a lower value than the purchase price, negotiations can resume.
4. Final Loan Approval
Depending on conditions of loan, the lender may require ongoing documentation of financials and income status throughout the course of underwriting and final approval of the loan. Final loan approcval means the lender has reviewed your signed documents, re-pulled your credit, and made sure nothing changed since the underwriter's last review of your loan file.
7. It’s Closing Time!
Your new luxury awaits! After the final walk-through, it’s time to sign those papers and finalize the closing of your new home. There will be a lot of documents but no need to worry ‒ this is what your trusted advisor is here for. They can help explain each and every paper that you sign. Ask as many questions as you need because after all, this is probably one of the biggest purchases you will ever make. Congratulations, you’re a new home owner!
6. Final Walk-Through
After potential renegotiating and having your final terms determined, you are almost ready to move in! When walking through your new home for the last time before closing day, you will want to make sure everything stated in your agreement terms are accounted for and in the condition expected. Here is a checklist that can serve as a guide through this step: Look for any imperfections you may have missed before (i.e., cracks in the ceiling, chipped paint, dents in the walls, etc.) Open all of the windows and doors Check locks & keys Test all of the appliances (if included in agreement terms) Flush all of the toilets to make sure they are properly running Turn on the faucets for proper functioning and water temperature Check the air conditioning and heating Turn the lights off and on Plug something into an outlet to confirm the electric system is working
ORDER NEW UTILITIES Effective possession date.
SCAN FOR CONTACT CARD
Ally richardson Engel & Völkers Napa valley +1 (707) 337-1505 AllyRichardsonNV@gmail.com DRE#02123122