Ann Salyer Cox A Little Bit About Me… “As an Edmond/OKC native, I have experienced its tremendous transformation from a desolate downtown into an affluent municipality still able to retain its small-town feel. My intimate knowledge of this community, plus the experiences of having lived here my entire life, provide me the enthusiasm and desire to help make my home your home!” Ann Salyer Cox has lived in the OKC area for more than 50 years. Her wide range of experiences dealing directly with people has provided this Edmond native with the skill set of a highly qualified agent. After receiving her Bachelor of Science Degree in Education from the University of Oklahoma, she taught school for eight years and still tutors students to this day when time allows. She implements these teaching skills to help educate her clientele. Ann’s other previous careers include owning and managing her own businesses, plus serving as an insurance agent and private investigator. “The knowledge I learned from these experiences provides me with valuable skills that I use daily in real estate,” Ann explains. As a proud Chinowth & Cohen Realtors® agent, Ann works with buyers and sellers in residential, relocations, and luxury real estate transactions in the Oklahoma City Metro area. A full-service agent since 2017, she has been the recipient of sales awards each and every year. Ann attributes her success to her problem-solving ability and negotiating skills, along with her compassion, patience, and positive attitude. “I am with my buyers and sellers every step of the way,” Ann says. “I am available any time I am needed during the transaction from beginning to end.” When not selling real estate, Ann enjoys OU football, yoga, cooking, traveling, volunteering in her community, plus spending time with her two daughters.
We were looking for a home for over two years until we used Ann; she found us a home within a few months. I have known her for many years. However, when I became desperate, I reached out to her, and she was ready and willing to help. She found us our dream home! I love her, and I highly recommend her! —Stevie K If you are purchasing or selling a home, I highly recommend Ann. She helped me sell my home and also buy a new one. From listing to closing, it was a flawless process. Ann made everything so easy and stress-free. She is a true professional, and you will enjoy working with her. —Michael M My family was buying the home Ann represented for sellers, and I could not have asked for a better or smoother experience. As her sellers were moving out of state before closing, she was accommodating to us getting into the home early, which was an enormous help for us. We are so thankful for Ann and appreciate her guidance on the other side of the transaction. Highly recommend! —Amanda B Ann made finding a home a true joy! Exceptionally responsive and professional, she always made me feel like I was her first priority and was delighted to help us find exactly what we were looking for. I highly recommend her if you want to buy or sell a home in OKC. —Micah L Ann is the sweetest and most clever person I know! She will bend over backward for you to get the deal done. Ann is very well-connected and a friend to everyone. I have known Ann for a very long time, and knowing her professionally is just as wonderful as knowing her on a personal level! “ —Jorden B Ann has sold two houses for us and helped us find a forever home. She is so thorough and responsive. I loved that she made it look so easy. You cannot miss with someone like Ann in your corner. —Elizabeth H Ann was beyond helpful. She felt like our friend from the very beginning of our association. Her expertise and casual confidence made selling our home painless. I was able to pick her brain about matters unrelated to my home sale, and she shared her time and experience when she surely had other things to do. I will miss the check-ins from Ann. All in all, a great experience. —Laurie F
Ann is willing to go to any length to make her client happy. She is professional, experienced, and available. She always puts her customers first and does her due diligence. —Katherine C Ann is great to work with. I appreciate her engagement during our home sale process. She went above and beyond in taking care of stuff beyond her responsibility as a Realtor. It was a pleasure working with her. —Aamir A Trust! One of the factors in choosing who I use in any financial, or service transaction is trust. Ann is trustworthy. She communicates well, is very honest & the teamwork is perfection. She is eager to serve you in any way possible to make sure the trust you put in her is honorable. Loved working with her! —Ann J Ann is the benchmark for premier Realtors. She is exceedingly knowledgeable in the marketplace and a consummate professional in learning from her clients and meeting and exceeding client needs and expectations. Her level of communication keeps the client updated with up-to-the-minute information so that they always know what is going on. She makes you feel that everything is going well, and you are confident that she always has your best interest foremost in her mind. I can truly say that the day I was introduced to her, I felt like I had made a new friend that truly cared about me. It has been a blessing to me to have her on my team. My husband passed away seven months ago, and I was feeling very alone, but Ann treated me like family, and I felt safe and protected by her. I have other real estates that she will take care of for me, and I will be honored to refer her to my family and friends. I will be doing them a favor by recommending Ann. —Deniece C Ann came highly recommended, but we still wanted to meet with her first. After meeting her, we knew she was the agent for us. She was so kind, knowledgeable, and, most importantly, great with our girls. She was always available to show us a house and help guide us through every step of the process. We definitely recommend Ann to anyone that needs a real estate agent. —Tyler F
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Testimonials
I highly recommend Ann. She was professional and answered all of our questions. She was patient and willing to drive all over during our home search. She was amazing to work with and got way over asking for the home we sold. –Keri D
Ann went above and beyond for us and alleviated so much stress and worry from the process. As an anxious, first-time seller, I appreciated that very much! —Lauren L
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Agent Value
When you partner with a trusted Real Estate Agent, you’re not just completing a transaction and paying a commission. You’re gaining invaluable expertise and experience. Here are some of the benefits your Agent brings as a Buyer Representative: insights: Real Estate Agents offer comprehensive knowledge about the current 1 Valuable market, pricing trends, neighborhoods, and buyer/seller preferences, allowing you to make informed decisions.
Skills: An experienced Agent has polished their negotiation skills through 2 Negotiation numerous transactions. They are experienced at securing the best price for your property and ensuring you don’t overpay for a new one.
Real Estate Agents have a wide network of professionals, including inspectors 3 Networking: and mortgage brokers, who can help expedite processes and uncover opportunities that you might not discover on your own.
Forms: Real estate transactions involve a significant amount of legal 4 Understanding paperwork. When working with an experienced Agent, they can help you navigate the ins and outs of these contracts and reduce the risk of costly mistakes.
Solving: Every real estate transaction presents unique challenges. An experienced 5 Problem Agent can draw on past experiences to tackle any issues that may arise. Your Real Estate Agent may be most visible during property showings or 6 Time-Saving: closings, but they are consistently working behind the scenes. This involves researching
properties, communicating with other agents, and managing paperwork. Their knowledge and experience help to simplify every step, ultimately saving you time.
Buffer: When it comes to buying or selling a home, emotions can often run high. 7 Emotional By having a dedicated Agent by your side, you can ensure that emotions won't interfere with making sound decisions or hinder the success of the transaction.
Future Guidance: Many Agents continue to provide value even after a transaction is
8 completed, such as offering advice on home improvements, market trends, or when it might be a good time to buy or sell again.
Mitigation: Avoiding mistakes in real estate is crucial. From missed disclosures to 9 Risk misunderstanding contract contingencies, an experienced Agent can help safeguard your investment.
Learning: The real estate market and its regulations are constantly changing. A 10 Continual dedicated Agent prioritizes ongoing education and training to stay informed, ensuring they deliver the best service to their clients.
In essence, the commission is compensation for the thousands of hours the Agent has already invested in developing the knowledge and understanding needed to guide you to the best offer and through closing.
2
Your trusted real estate advisor
Buying a home is usually one of the largest investments you will make, with a lasting financial impact for years to come. A trusted real estate advisor can serve as your expert guide, negotiating on your behalf, navigating through the hundreds of pages of disclosures, reports, and contracts, and helping you avoid costly mistakes and any possible legal or financial liability. Having an experienced Chinowth & Cohen professional in your corner offers a competitive advantage when searching for your home and accessing local resources. A Buyer’s Agent’s broad perspective can provide a stabilizing force to assist you through what can be a complicated process. Below is just a brief overview of some of the areas where Agents demonstrate their value and contribute to a successful purchase. • • • • • • • • •
Provide an overview of the current market dynamics and challenges Create a purchase strategy Assist with procurring financing Evaluate purchase price range Schedule property tours Provide access to Off-Market, Coming Soon, and Pocket Listings, as available Review disclosures and reports on selected home Evaluate and negotiate the offer Recommend vendors for inspections
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Initial consultation
An initial meeting is important to understand your home-buying needs and to develop a strategy to help you successfully make a purchase. UNDERSTANDING YOUR REAL ESTATE GOALS • • • •
What is your time frame? What is your past experience with real estate purchasing? What is your risk tolerance? Where are you in the financing and preapproval stage, if a loan is needed?
REFINING YOUR CRITERIA • • • • • • •
What is your desired location or neighborhood? What is your ideal price range? How many bedrooms and bathrooms do you want? What style of home are you looking for? What are your specific requirements and non-negotiables? How willing are you to make improvemens to the home? What other factors are you considering (school districts, commute, etc.)?
4
Understanding the
Buyer Broker Service Agreement
Your Chinowth & Cohen agent will provide you with a Buyer Broker Service Agreement that explains in detail the duties and roles of the Agent. Legally, the Brokerage is the entity that represents the Buyer or Seller, and the Agent is an authorized representative of the Brokerage. This agreement is required by law as of August 17, 2024 to be signed by the buyer prior to viewing a home in person or virtually. The Buyer Broker Service Agreement confirms the compensation for the Buyer’s Agent and Brokerage. It should be noted that the amount a brokerage charges is not fixed by law, the commission amount is negotiable, and brokerages may set minimum fees. SELLER-PAID BROKERAGE COMMISSION
When listing a property for sale, Sellers complete an Exclusive Right to Sell Agreement to authorize payment to the Listing Broker. The Exclusive Right to Sell Agreement may offer a commission amount to be paid to the Broker representing the Buyer. BUYER-PAID BROKERAGE COMMISSION
A Buyer Broker Service Agreement allows your Agent to represent you even when no offer of commission is offered. Your Agent can search for MLS and non-MLS properties, including For Sale by Owner, Off-Market, Coming Soon, or Pocket Listings—as the Buyer Broker Service Agreement covers the payment for the buy-side representation.
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Connecting to financial resources
Financing and good lender relationships are important. Your Agent can recommend a variety of loan officers who can help you financially prepare to purchase. Your agent can: • • • • •
Provide lenders who can pre-qualify you and confirm the property price range Suggest that you obtain a preapproval, subject to the property selection Collaborate with the lender on any potential Bridge Loan, so you can buy before you sell Provide any requested contract documentation Show the property to the Appraiser and provide supporting comps
3 PIECES OF MONEY YOU NEED TO KNOW ABOUT MONEY Earnest money is a check written at time of offer that proves to a seller you’re 1 EARNEST serious about the purchase. Earnest money is held in escrow until closing and then applied towards the purchase. Earnest money is negotiable but is often approximately 1% of the sales price of the home. Earnest money is refundable during inspection and is credited back to you at closing.
MONEY It’s your right to choose any inspector you wish. If you don’t already have an 2 INSPECTION inspector in mind, Your Agent will recommend and even schedule on your behalf a group of highly skilled, experienced, and licensed inspectors that put your best interest first. Inspections typically occur in the first 7–10 days after having a fully executed contract and can range from $250–$1,500 depending on the home’s features.
MONEY If a mortgage is involved, your lender must order an appraisal to ensure the 3 APPRAISAL house is worth the amount it’s lending. This typically costs between $450–$650 and is paid directly to your lender within the first five days of the contract period.
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Locating, viewing, and evaluating properties
Chinowth & Cohen Realtors review properties continually, follow local market dynamics, and are here to guide you in finding the right home. Your agent can can: • • • • •
Set up automated Listing Alerts that meet your search criteria Present off-market or pre-market listings as they arise Communicate with other Agents to schedule and set up private showings Map out and tour properties together Provide weekly or monthly market reports and stats
Your agent can help you assess how your selected property compares to others on the market and to recently sold homes. One benefit of having a trusted Chinowth & Cohen agent is their familiarity with required disclosures, recommendations for inspectors, and experience reviewing reports. • • • •
Your Agent will request the Disclosure Package, Preliminary Title Report, and other information from the listing Agent Discuss with your Agent any additional inspections or reports and determine the time frame for needed contingencies If the home is in an HOA and the Seller has not provided the HOA docs, your Agent can explain the typical timing of the process to reveive and review the documents Recommend a Title and Escrow Company to facilitate the closing
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Writing competitive offers
When your Agent locates a property that meets your needs, they can provide information and knowledge to assist you in determining an offer price and terms and then negotiate on your behalf to help you win the sale. Representing you in the best light can be helpful in securing the winning offer. Your Agent will: • • • • •
Provide you with an analysis of comparable sales statistics Communicate with the listing Agent to get the best information possible about the sellers’ preferences regarding terms and timeline before submission to best position your offer Discuss different strategies such as escalation clauses, buyer/seller concessions, appraisal gaps, etc. Ensure disclosures and all required documents are complete Communicate with you every step of the way
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Under contract
Congratulations! Your offer was accepted, and you’re under contract! This is just the start of the actual transaction process. Your Agent will guide you through the requirements that are contained in your accepted offer. At this stage, your Agent will: • • • • • • •
Make sure your earnest money is deposited into escrow Ensure you understand wire-fraud concerns and communicate directly with your Title Agent or Attorney regarding any wiring, account, or transfer information Maintain a secure transaction file with all the ongoing required documentation and upload the earnest money Create a detailed timeline for your transaction and ensure all deadlines are met, therefore protecting you and your earnest money Communicate with your Lender Confirm Homeowner’s Insurance is in place prior to closing Help remove any remaining contingencies
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Property
inspections
Picking an experienced and thorough inspector is crucial, and your Agent can provide a list of inspectors. T YPES OF INSPEC TIONS
1. EMP (Electrical, Mechanical, Plumbing) 2. Roof
3. Structural 4. Drainage
5. Termite & Wood Rot
6. Additional Inspections (i.e. Spetic, Pool & Spa, Crawl Space) Your Agent will: •
Help you schedule inspectors you choose for all the inspections you wish to have performed
•
Use their expert negotiating skills to negotiate repairs or a credit from the seller
•
Review Inspection Reports with you
The inspection only covers the main dwelling. Therefore, shops, detached garages, pool houses, and other structures are not included unless specifically requested, and an additional fee will likely be applied.
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Completing the closing process
Your Agent can: • • • • • •
Arrange for a final walkthrough of the property Provide a list of movers, interior designers, landscapers, general contractors, gardeners, cleaning services, and home maintenance services, as needed Share a list of utility providers Provide resources for a Home Warranty policy Accompany you to the closing to answer any questions you have Upon recording title, provide keys
What Are Closing Costs?
Closing costs are fees associated at the closing of a real estate transaction when the title of the property is transferred from the seller to the buyer. Closing costs typically range from 3–6% of the purchase price and are incurred by both parties. Here are some common closing costs: • A fee from the lender for running your credit report. • A loan origination fee, which lenders charge for processing the loan paperwork for you. • Discount points, which are fees you pay in exchange for a lower interest rate. • Attorney fees for reviewing title/abstract • Survey fee, which covers the cost of verifying property lines, easements, and encroachments • Title search fees, which pay for a background check on the title to make sure there aren’t unpaid mortgages or any liens on the property. • Title insurance, which protects the buyer and lender and is paid to the title company to correct any clouds on the title • Escrow deposit, which pays a couple of months of property taxes, homeowner insurance, and private mortgage insurance. • Prorations for your share of the homeowners’ association fees. • Recording fee, which is paid to the county in exchange for recording the new land records. Lenders are required by law to give you a Loan Estimate, which will include what the closing costs on your home should be. At least three business days before closing, the lender will give you a Closing Disclosure statement, which outlines exact closing fees. This Closing Disclosure statement must be signed by the buyer the same day it is issued to avoid a delay in closing.
What Are Home Warranties? We can discuss the potential advantages and disadvantages of home warranties.
WHAT IS A HOME WARRANTY?
A service contract that covers the repair or replacement of important home system components and appliances that break down over time. That means whether it’s your A/C unit burning up in the summer or your heater failing in the winter, you and your family will have one less thing to worry about.
WHY IS A WARRANTY RECOMMENDED?
Breakdowns are inevitable—home system components and appliances simply wear out over time. Unlike most homeowners insurance, a home warranty plan protects your budget by covering an unexpected repair or replacement of crucial items when they stop working due to normal wear and tear, saving you money in the long run. Think of it like this… HOMEOWNERS INSURANCE COVERS THINGS THAT MIGHT HAPPEN Fire damage, Hail and Wind damage, Theft & Vandalism
HOME WARRANTY COVERS THINGS THAT WILL HAPPEN Breakdowns of HVAC systems, Water Heater, Oven, Dishwasher, Plumbing & More
WITHOUT A HOME WARRANTY
Repair or replacement of key home systems and appliances can be expensive. Talk with me about the average cost of a home warranty and strategies for including one in the contract so that you’re protected from unexpected problems in your first year of home ownership.
5 Factors That Decide Your Credit Score 1. PAYMENT HISTORY Do you pay your debts on time? 2. AMOUNT OF DEBT Less is best. 3. CREDIT HISTORY The longer the better. 4. AMOUNT OF NEW CREDIT New credit is considered more risky! 5. TYPES OF CREDIT i.e. installment loans, credit cards, and a mortgage. Credit scores range between 200 and 800. Scores above 640 are considered desirable for obtaining a mortgage. For more on evaluating and understanding your credit score, go to www.myfico.com.
CREDIT DO’s • • • • •
Pay your mortgage or rent payments on time Stay current on all outstanding accounts
Continue working for the same employer
Stay with your current insurance company
Notify your Lender immediately if any situation arises that could possibly affect your income, assets, or credit
CREDIT DON’Ts •
Don’t switch bank accounts
•
Don’t increase the balance of any credit cards
• • • • • • •
LOAN APPLICATION CHECKLIST
Don’t transfer balances between accounts
• • • • • •
Last 30 days paystub
Copy of last 2 years’ W-2s and tax returns
Most recent 2 month’s checking and savings account statements
Name of homeowner’s insurance company
Letter explaining derogatory credit or bankruptcy (if applicable)
Copy of Divorce Decree and
Property Settlement (if applicable)
Don’t consolidate debt, including credit card debt
Don’t close any accounts, including credit card accounts
Don’t apply for ANY credit (new vehicle, furniture, appliances, etc)
Don’t change your job, employer, the way you are paid, or become self-employed
Don’t pay off charge-off or collection accounts before consulting with your lender
Don’t make large deposits without the ability to document the source of the funds
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