Comprehensive Market Knowledge & Diligent Island-Wide Representation Single Family Homes, Condominiums, Vacant Land, & Investment Opportunities
We are honored to have the opportunity to be of Service and offer you our professional diligence, experienced market knowledge and focused attention in an effort to facilitate accomplishing the sale of your Maui property
We welcome all of your questions and want you to know that we will do everything possible to educate you about the present Maui real estate market and find the appropriate buyer for your Maui property in an expedient and stress-free manner. Along the way, please accept our invitation to Use our Team as your Maui advisor(s) to accomplish ANYTHING MAUI, whether it is a dinner reservation, a plumber recommendation, or whatever may be required to accomplish your Maui goals. Enclosed please find information that is pertinent to the services we offer our Sellers:
List of Contents
Contact Us
About Us/About Our Team
What Our Clients Experience
Introductory Letter
Seller Questionnaire
13 Questions to Ask Your Realtor
Maui Market Statistic Report
Marketing is Key
Transaction History
Seller Listing Information
Listing Agreement Documentation
Dual Agency
Seller’s Real Property Disclosure Statement
Purchase Contract
Glossary of Terms
Realtor Caravan Report
Realtor Showing Follow Up
Sample of Monthly Update
89 Ways to Help Sell Your Home Fast Summary of Marketing & Closing Services
Seller Info Packet
FIRPTA & HARPTA
Building Permits
We invite you to visit www.MauiRealEstateAdvisors.com to see All of Maui's Most Recent Listings, use the “Resources Page” for access to the Maui Arts and Cultural Center website, the Maui News Classifieds and many other useful options Our own personal and professional background information is available on our website along with valuable insights by accessing the tab “For Sellers ” Thank you
Maui Real Estate Advisors
The
Robert H “Robbie” Dein Realtor/Broker-Owner
Kenneth M “Ken” Hayo Principle Broker/Owner
Jeannie Kong-Evarts Realtor
Liz Acebedo Office Manager
Nancy Jaqua Dein Director of Finance
Tish Briseno Marketing Director
Maui Real Estate Advisors
Wailea Town Center
Contact Us
(808) 250-3564
(808) 875-4444 x 102
Robbie@MauiRealEstateAdvisorscom
(808) 283-8435 (808) 875-4444 x 101
Ken@MauiRealEstateAdvisors.com
(808) 276-1832
Jeannie@MauiRealEstateAdvisors.com
(808) 875-4444 x 105
OfficeManager@MauiRealEstateAdvisors.com
(808) 875-4444 x 103
Nancy@MauiRealEstateAdvisors.com
(808) 875-4444 x 104
Marketing@MauiRealEstateAdvisorscom
(808) 875-4444
(808) 875-4414
About Us
Robert H. “Robbie” Dein | Realtor-Broker, Owner, ABR, CRS, RSPS
Direct Cell: (808) 250-3564 | Email: Robbie@MauiRealEstateAdvisors.com
An innate desire to satisfy, educate, advocate and negotiate for my clients characterizes my standard of real estate practice. I am my clients’ “Trusted Maui Advisor,” and to that end I have sought out the highest level of education and tools to create success for my clients and their entrusted referrals. I was licensed in 1996, sat for my Broker’s exam in 2003, and earned the National Association of Realtor’s highest level of residential sales designations, CRS (Certified Residential Specialist), ABR (Accredited Buyers Representative) and RSPS (Resort, Second Home Property Specialist) in my early years of practice.
Today, I continue to attend informative trainings so that I may develop my network of Buyer’s agents worldwide and bring the latest cutting-edge tools and marketing skills to my practice. Along with a seasoned 50+ year entrepreneurial business background, I bring to my real estate practice a team of service providers second to none. Lenders, Property Inspectors, Surveyors, Handymen, Escrow Officers, Contractors, and a full time Marketing Director. My lovely wife of 39 years, Nancy, is also a licensed Hawaii Realtor and a valuable team member. Together we are focused on accomplishing our clients’ goals in a timely and stress-free manner.
Accolades are the result of tirelessly combining our comprehensive market knowledge, cutting edge tools, and asking the question, “What Could Be Better for Our Clients?” Some of the results of my efforts include: Century 21’s #1 Realtor on Maui, Century 21’s Grand Centurion National Sales Honor Society and Hall of Fame, Century 21’s #10 Agent Worldwide, Top 100 Hawaii Realtor Hall of Fame/Top Performers (Hawaii Business Magazine, 2006-2024), Annually a “Top 5 Maui Realtor,” Maui’s Top Producing Realtor 2017, and most importantly an extensive family of satisfied Buyers and Sellers representing over a half billion dollars in successful real estate transactions.
As a service to my community and colleagues, I regularly volunteer and have served as Secretary of the Kihei Community Association, Vice President of the Wailea Town Center Home Owners Association, Vice President of the Kamaole Nalu Home Owners Association, Board Director for the Ho‘olei at Wailea Condominium Association, and on the Wailea Point HOA Board of Directors. I have served as the South Maui Regional Director for REALTORS® Association of Maui and on their Government Affairs Committee.
In addition, I regularly attend both the Kihei and Wailea Community Association meetings. Participating in creating the vision of “Life on Maui” and in our community, now and in the future, on behalf of my family, my clients and myself, is a responsibility that I take seriously. I consider Life on Maui a Precious Gift.
Kenneth
M. “Ken” Hayo | Principal
Broker/Owner
Direct Cell: (808) 283-8435 | Email: Ken@MauiRealEstateAdvisors.com
Committing to 100% Client Satisfaction is my guarantee. Earning your Loyalty is my Goal. I am very proud to have received many International Quality Service Awards over the years. These awards are based upon client feedback to surveys sent from the corporate level. Licensed to practice real estate in Maui for over 37 years and being involved either as a Sales Agent, Broker or Principal Broker in over 2 billion dollars in real estate sales has helped me to provide my clients with a level of experience, service and integrity that they should expect when hiring a real estate professional.
In addition, I have held numerous positions with the Realtors Association of Maui over 28+ years including Board of Director, Professional Standards Panelist and Chair, Grievance Committee Chair, and South Maui Regional Director which help keep me on the leading edge of the industry. Also, I was selected as Maui’s “Realtor-of-the-Year” for 2015. Finally, I have mentored over 100 Real Estate Agents over the years including many that have gone on to become Top Producing Agents and Brokers.
I have been married for over 40 years to my lovely wife Desiree and have two children, and two granddaughters. Also, over the past 34 years, I have had the privilege of coaching high school soccer for several Maui schools. Helping to make a difference in the community as well as in children’s lives is so paramount that it gives me great pride to do my part. I approach real estate with the same mindset and find that I get the same satisfaction and fulfillment in helping clients with their real estate needs.
Meet the Team
Nancy Jaqua Dein, Director of Finance
A licensed Realtor on Maui since 2008, Nancy Dein assists with showings, open houses, and realtor caravans for our listed properties. She also shows properties to our buyer clients. As financial director, she is often working behind-the-scenes running the day-to-day financial business of Maui Real Estate Advisors. As an owner of Residential and Commercial properties and a Bed & Breakfast on Maui, she offers a wealth of knowledge about managing, bookkeeping, and government filings for these properties.
Nancy grew up in Bronxville, NY, graduated from Cornell University, and pursued careers as a ceramic artist and a Trager Bodywork practitioner in Ithaca, NY before moving to Maui in 1998.
Liz Acebedo, Office Manager
Liz assists and supports the Maui Real Estate Advisors office and its agents. She loves working with people, and going above and beyond to take care of our clients is second nature to her. With 30+ years of experience providing office management, customer service, and bookkeeping services across a wide range of business types, from small businesses to corporate financial institutions, she has a true understanding and appreciation for what we hope to accomplish at MREA. She aims to exceed expectations of all our clientsʼ to give them an enjoyable experience, and leave them with a lasting impression.
Born and raised in San Diego, Liz moved to Maui from the Southern Oregon coast to bring her husband's well-established Glass Art business to the island. She also sits on the BOD for the 501(c) non-profit 2Live2Cure, an organization working to improve the daily lives of adults living with cancer. Liz is passionate about giving back and helping her neighbors and community.
Tish Briseno, Marketing & Production Director
Tish directs the design, creation, execution, production, and distribution of strategic marketing campaigns. She delivers exceptional and effective content for high-end property and communication materials, direct mail, ads, social media, signs, email marketing, multimedia projects, etc. Tish previously worked for various marketing agencies and at WordPress.com and where she has developed an expertise in creating successful campaigns and creating compelling content. Her extensive experience and technical skills create clear insights into producing results through compelling pieces, connecting with audiences, and inspiring action.
Tish is originally from California. Outside of work, she enjoys reading, testing new marketing strategies, and aerial photography. She is also passionate about giving back to her community through volunteer work, and pet sitting.
“ In my 35 years on Maui I have never known a better realtor than Robbie Dein. In the process of selling my home, Robbie and Ken were incredibly thorough, responsive, available, and considerate. Robbie and Ken’s positive, upbeat disposition makes them a pleasure to work with. I highly recommend Robbie and Ken as motivated Realtors who will exceed your expectations.”
— Henry Vandervelde, Haiku, Maui, HI
“ We’re preparing for snow and you’re probably going surfing!! Mary and I are keeping warm knowing that we own our little piece of paradise. All thanks to your hard work. Hope that all is going well and that you are making others as happy as you made us.”
— Steve Craig & Mary Bezek, Worcester, MA
“ When there is job that must be done, people turn to you because you give your best to everything you do! So please, accept these compliments for handling things so well- your dependability and skill mean more than words can tell…We couldn’t have gotten our home without your help. Thank you for all the hard work.”
— Angie & Roland Tokuoka, Wailuku, Maui, HI
“ Our goal was to find an ocean view property in a quiet South Maui neighborhood…You provided us with excellent market data, professional insightful real estate advice, and looked out for ‘US’ in the process. You were our advocate, and became our friends in the process.”
— Jim & Polly Carlson, Everett, WA
“ We recently purchased property in Wailea through Robbie Dein & Ken Hayo. Robbie & Ken were very professional and always looked after our best interest. It was a pleasure working with Robbie & Ken and we look forward to doing business with them in the near future.”
— Michael Sarich & Paula Hasluck, Wailea, Maui, HI
“ I wanted to thank all of you for helping me put everything together. You are a truly great team of professionals and I look forward to working with you again. Thank you.”
— Pavel Zeman, Kihei, Maui, HI
“ Robbie and Ken helped us buy our property in 2012, and then they handled the sale in 2021. Robbie and Ken provide first-class services with excellent marketing tools and regular updates from beginning to end. A big thank you to the entire team at Maui Real Estate Advisors; very knowledgeable and experienced, a pleasure to work with!”
— Laurent Joly, Toronto, Canada
“ Our experience with Robbie Dein & Ken Hayo: They are professional, patient and treat you as if you were the only client they have. We used Robbie & Ken for both the buying and the selling of property. From the beginning, you listened to our goals and worked diligently to help us achieve our maximum in the selling of our property and our dreams in the purchase of a Maui home. No pressure, no gimmicks, just plain good service!”
— Mickey Norvell & Bobby Deaver, Dallas, TX
“ Highest Recommendation! We are so grateful that a friend referred us to Robbie and Ken. Their vast experience, congeniality, intuition, creativity, and organizational skills were truly impressive! Having studied Real Estate and made over ten transactions, this was easily the most relaxed yet efficient, worry-free sale ever - So Grateful! They saved us multiple return trips to the Island to get it done.”
— Rob & Michelle Voss, Kihei, Maui, HI
“ I am truly amazed at the standard you set for marketing your listings. If other agents did the job half as well as you do, we would have no inventory. Keep up the amazing job. I truly admire how you present your properties, price and stage them well, and are always upbeat about promoting them. If more Realtors did the job the way you do it, we would all be better off. Just so you know, you are never in my spam box. I read most of the promotional material you send and you really send a lot. It is not garbage and it always conveys a very clear picture of the property with perhaps a few too many adjectives, but I can forgive adjectives if the pictures are good. They usually are . As a peer and competitor, you set the bar at a level that is tough to get over. Keep it up!!!”
— Tracy S. Stice R(B), Former President of Hawaii Association of Realtors
Introductory Letter
Aloha,
It would truly be our pleasure and valued opportunity to work on your behalf to accomplish your real estate goals. We would like to take this opportunity to be upfront with you in the spirit of satisfying our mutual needs. To start, in order to offer you satisfying and diligent quality service, please consider our open invitation for you to communicate with us whatever is on your mind regarding your real estate needs; be they a purchase or sale. Also know that, in our experience, not asking a question is often a more costly mistake than not having the information you need. Also consider what actions on our part will make you an unequivocally satisfied client and cause you to recommend us to your friends and acquaintances when they have real estate needs? Please keep our invitation in mind so that we have clear goals to meet and your needs are known and together we can accomplish both of our objectives.
We want you to know up-front that as we are professional Realtors, once we have decided to work together, we will give you our full attention, commitment to do research for you, and keep you updated on every aspect of your real estate transaction. We want you to enjoy the process of accomplishing our goals and we take the fiduciary responsibility seriously. We’d like you to have an overview of the Selling Process in a real estate transaction so that you can appreciate the timely and necessary steps that we will be undertaking.
First off, the process of selling a personal residence or investment property generally starts off with reviewing the current market conditions as they may affect you What is your timetable for getting your property sold? Do you need to be in a new location according to a specific personal or professional timetable? Are you downsizing and moving into a condo from a larger home, or just wanting to reaccess some of the equity in your property? Once we determine your personal needs we create a plan of action to market your property with your goals in mind. We are including as a separate document our proven “Marketing Plan Summary’.
We are constantly touring newly listed properties each week and showing buyers available listings and keep totally abreast of what is on the market, how long it has been listed for sale, what the average Days on the Market is for both listings and sold properties, and what the average ratio of sales price relative to listing price is in all categories of residential Maui real estate. We also do a daily review of all sold properties in our market and constantly access the data base of the Maui Board of Realtors Multi Listing service, and will compute a professional Comparative Market Analysis of your property relative to comparable properties that have recently sold and are currently listed. We will share our finding with you, discuss what you feel you would like to list your property for and why, and help you objectively decide, once thoroughly informed, what price you are comfortable asking for your property. These are the key factors in getting your property sold at the best price, quickly, and with minimum hassle.
The next step is a marketing plan. To begin with we may recommend you consider doing some repairs or cosmetic work that will significantly enhance the salability of the property. Marketing includes the exposure of your property to other real estate agents and to the public. The National Association of Realtors studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends and family, and personal contacts. In most markets across the county, over 85% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. With over 1300 Realtors on Maui, we believe that our job is to use these professionals and their knowledge and contacts to get your property sold for the highest price, in the least amount of time and with minimal hassles. Reminding them at our WEEKLY realtor’s caravan meeting of your propertys’ features, advantages and benefits, will keep your property top of mind, and support them in presenting your property to their current, ever changing pool of buyers. We will act as your marketing coordinator disseminating information about your property to other real estate agents through our Multiple Listing Service. We will organize Open Houses for Agents only, and for the public if you are amenable. We will send e-mail reminders to Maui agents advising them that your property has just been listed, is going to be on Caravan, is having an Open House or Broker’s Open, and of any price changes.
We will do print advertising where applicable and effective, including paid top position advertising in statewide & national real estate publications such as the High End . We do targeted direct mailings featuring high quality 4-color promotional materials. We offer timely email campaigns through Constant Contact and other social medial platforms. We will create a detailed photographic visual tour of your property which we will upload to the internet so it can be accessed from anywhere in the world by interested buyers and other agents any time, day or night. When a property warrants, we have our videographer create a 2 ½ - minute high-resolution video presentation.
We will create a featured property profile on Zillow and Realtor.com, the top real estate websites in the world, and be certain we are linked to the most viewed real estate search engines nationwide and internationally via syndication through List Hub to over 900 websites. We will network and input featured listings as affiliates to Zillow featured listings, WorldProperties.com, ProxioPro.com, Paradym.com, UniqueHomes.com. Our latest affiliation is with Juwai.com, which affords us the opportunity to have the very best exposure to qualified Buyers in China. Bottom line; we will present your property to an active pool of qualified buyers worldwide. How much and what type of media we utilize depends a lot on the property and our specific market.
We will encourage buyer’s agents to take all precautionary steps to pre-screen, qualify, and accompany interested parties that want to see your property so that security is a top priority and you do not have to worry about strangers viewing your home. We will communicate regularly with buyer’s agents and seek their feedback after showing your property so we may monitor the market reaction, make adjustments as needed to our marketing strategy, while supporting them in their process to bring us the best offer possible. We will communicate with you after each showing to advise you on our marketing progress as well.
Once we have an offer in hand, we will discuss numerous negotiable factors, including but not limited to acceptable purchase price, financing, terms, date of possession, and often the inclusion of requests for repairs, or furnishings or equipment. We will share our opinion as to the strength of the offer and the relative contingencies that you may be asked to consider. The sales agreement allows for a period of time to complete appropriate recommended or required inspections and full disclosure of information about your property for the transaction to proceed.
Written addendums ranging from oceanfront regulations to inspections for termites, dry rot, asbestos, faulty structure, roof conditions, amongst many others are most importantly handled by qualified professionals whom we can accompany during the due diligence period. We will also order a preliminary title report, which will indicate ownership of the property, easements for utilities, and other important functional and legal considerations.
Finally, we will work with the buyer’s agent to open escrow and proceed thru the legal and financial process of consummating this transaction. We will attend to the contractual time schedule and advise you to meet the obligations under the contract, while at the same time monitoring the buyer’s performance of the said terms of the contract.
Robbie has achieved his National Association of Realtors, Accredited Buyer’s Representative [ABR] designation, is a Certified Residential Specialist [CRS], and a Resort Second Home Property Specialist, which are some of the most advanced NAR professional real estate designations requiring completion of more than one-hundred twenty classroom hours and comprehensive exams and also requires a serious commitment to the highest quality of professional continuing real estate education available. Ken has been a Broker on Maui since 1988 and overseen thousands of contracts during that time. During the past years, we have successfully represented hundreds of clients in transactions totaling over 1 Billion dollars. The sheer volume of fiduciary matters covered in these transactions translates into contract and negotiation experience, market knowledge, and a familiarity with our colleagues that is synonymous with Success.
We are a focused, diligent, thorough Real Estate Team, with an innate desire to serve our clients, creating a win/win experience for all parties involved. We are personally committed to going above and beyond and exceeding your expectations. Our reward is achieving excellence in your eyes and having you refer us to friends and family who have real estate needs.
Thru all the steps along the way, we ask for your loyalty and an open channel of communication between us. You are now well aware of the personal and professional time commitment involved in all areas of a conscientious real estate listing and sales process. If you are considering working with another real estate agent, we would appreciate the courtesy of knowing this from the start. If after reading this overview you wish for some reason to not have us list your property, we would like to know that before investing ourselves, and would appreciate knowing for our own business self improvement, why you have made such a decision.
We’d like to create success for both of us and look forward to hearing your thoughts and comments after digesting this overview.
Mahalo for your time and consideration.
Respectfully,
Robert H. “Robbie” Dein, Broker/Owner
Accredited Buyerʼs Representative, ABR
Certified Residential Specialist, CRS
Resort Second Home Property Specialist, RSPS
Century 21ʼs #1 Realtor on Maui, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012
Top 100 Hawaii Realtor Hall of Fame/Top Performers, Hawaii Business Magazine 2006-2023
Kenneth M. “Ken” Hayo, Principal Broker/Owner
36+ Years Experience in Real Estate on Maui
Board of Director, Realtorʼs Association of Maui 15+ Years
Multiple International Quality Service Award Winner
Mauiʼs Realtor of the Year for 2015
Mauiʼs Top Producing Agent Team 2017
Seller Questionnaire
Is your home currently listed with someone else? Yes No Who?
Are you interviewing other agents? Yes No Who?
What prompted you to call us?
If referred, by whom?
Could you tell us a little about your property?
How long have you owned this property?
Are there any additional owners on title?
Have you made any improvements that may not show up on the Maui County Tax Record? (i.e. updating the kitchen or baths)
Why are you selling?
What is your time schedule for this sale and is it critical to you?
What are your plans after the property sells?
Estate
Returning to the mainland?
Smaller Property? Larger Property?
What are your plans if the property does not sell?
Different location?
Do you have a Realtor to help you in the geographic area where you intend to purchase your replacement property? Yes No If Not, Would you like a referral? Yes No
What are similar locations, views, and sized homes or condominiums selling for in your present neighborhood or condominium complex?
What price do you have in mind for your property?
How did you determine that price?
How soon would you like us to input the listing of your property in the MLS?
Additional Notes:
13 QUESTIONS TO ASK YOUR REALTOR
If We were searching for a Realtor to Represent & Sell a Property for Us, that we owned in another area of the country, these are some of the questions we would want answered. Owners who take time to find the right Real Estate Agent are consistently happier. It’s the First & Most Critical Step in Successfully Selling Your Property!
1. How long have you been an active full-time Realtor?
w Our Answer: Ken has been licensed since 1988, & Robbie since 1996. We have bought, sold, & developed many properties over our combined 60+ years in real estate. Furthermore, we have represented hundreds of Clients, in transactions totaling over $1 Billion.
2. What professional designations do you have?
w Our Answer: Ken earned his Broker’s License in 1990, & Robbie earned his Broker’s License in 2004. Robbie holds the Accredited Buyer’s Representative, Certified Residential Specialist, & Resort Second Home Property Specialist Designations. Ken also holds the Accredited Buyer’s Representative, & Resort Second Home Property Specialist Designations.
3. How many properties have you listed & sold in the past five years?
w Our Answer: We, at Maui Real Estate Advisors, have had 275+ Properties Listed & 380+ Properties Sold in the past five years.
4. What can you tell me about your share of the market, or success in it, compared to other Realtors in the area?
w Our Answer: We were Ranked # 1 amongst 1,700 Realtors on Maui in 2017, & in the Top handful throughout 2013-2024. We are the ONLY Maui Realtors recognized as “Top 100 State of Hawaii Realtors/Top Performers” for 17+ consecutive years, amongst 14,000 Realtors, earning a place in the Top 100 Realtor Hall of Fame. These statistics represent the trust, confidence, loyalty, & repeat business we’ve attained.
5. Do you have staff*? How many are licensed? (*Realtors who have a support team to assist with office projects, tasks, & routine details can usually devote more time to the business of serving a client’s highest priority needs & getting the property sold.)
w Our Answer: Robbie’s wife, Nancy, is a Licensed Realtor Salesperson who assists with showing preparation, open houses, & real estate bookkeeping/administration. We also have 2 assistants on staff. Tish is dedicated to our Marketing & Digital Media, & Liz is dedicated to executing Buyer/ Seller Transaction Plans, from listing inception, to escrow closing, & follow-up [M-F].
6. How will you market my property?
w Our Answer: We have a proven Global Marketing Plan, which we share upon request. It includes syndicating to 900+ websites, mailouts, brochures, custom signage (if appropriate), social media, etc. We also create a comprehensive website for each property we list for sale, including highresolution & aerial images, 3-D walkthroughs, floor plans, videos, & site maps, as deemed appropriate.
13 QUESTIONS TO ASK YOUR REALTOR (CONT.)
7.Do you have your own real estate website?
w Our Answer: We have a comprehensive website at MauiRealEstateAdvisors.com. We’re also associated with Zillow.com and Realtor.com, the world’s #1 real estate websites, and we have a Premier Listing Package with both of them that specifically Features Our Owners’ Listings when a Buyer searches for Maui Real Estate online in those areas. Our listings syndicate to 900+ top real estate websites Internationally as well, thus providing maximum online exposure for each listing.
8.How will you stage my home, or coach me to present my property? What experience helps you advise me?
w Our Answer: We prepare a list of Items that need attention & what you can do to fine tune your property, make cost-effective improvements, & make your property more marketable. Our combined 60+ years of experience helps us know what to suggest.
9.How will you keep me informed & updated?
w Our Answer: After EVERY SHOWING we email or call you, & give insights as to what the Buyer/ Agent felt about the condition & relative price of your property. We also communicate (at least monthly) regarding marketing, economic changes, & market activity.
10.What listing price would you recommend for me? How did you arrive at that price?
w Our Answer: It is important that you choose a Realtor based on your comfort level & confidence in them, not just based on the list price they propose. This is a common mistake Sellers make. Remember, the Market dictates the price, not the Realtor! After our initial meeting, & evaluation of the property, we review all market data of recent applicable Sold, Pending, & Active Listings. We will then show you a competitive price range & discuss an appropriate asking price, based on timing, motivation, & your personal needs.
11.What’s your pricing/marketing philosophy after a property is listed (+30/60/90 days), if not sold immediately?
w Our Answer: In order to stay competitive, & be a compelling choice within our industry, we will re-evaluate our Pricing Position periodically as other comparable properties are listed, placed under contract, & sold. We would also discuss feedback with you regularly, as we progress through the Marketing Process, Showings, Realtor Caravan, Broker’s Open events, etc.
12.Can you provide me with references?
w Our Answer: We will email you a list of Sellers/Buyers we have represented, along with their contact information, upon request. We believe this is essential in evaluating an agent’s performance. We also have numerous testimonials that our Clients have offered.
13.Am I comfortable with this person & team? (This question is not for the agent. It’s for YOU!)
w Our Answer: Hopefully our past & current discussions, our Global Marketing Plan, our experience, & ultimately our results will alleviate any concerns, make you one of our loyal & supportive “fans,” & prompt you to send us your referral business in the future.
Single Family Homes, Condominiums, Vacant Land, & Investment Opportunities
Marketing Plan Summary
We acknowledge that you are engaging us to advise you and handle the sale of a major financial asset. You are relying on us, as Proactive Maui Advisors, in many aspects, similar to an accountant or stockbroker. With that said, simply listing your property and inputting it in the MLS and waiting for the phone to ring is not likely to produce the satisfactory results in a timely manner. We consider your listing a serious responsibility of significant magnitude. Once you have decided to re-deploy your assets, timing is everything. With this understanding we will do the following:
1. World Wide Web Internet Presence: Presented on 900+ of the World’s Top Real Estate Web-Sites, including but not limited to, our own website: MauiRealEstateAdvisors.com, Realtor.com, featured listings on Zillow, Juwai (China), WorldProperties (Asia), LuxuryHomes (Canada), Unique Homes, Listhub, Trulia, Google, Yahoo, and other international sites and search engines. We email to potential Buyers and approximately 2,000 Maui Brokers and Agents, 14,000 Hawaii Realtors and hundreds of Top Agents, Brokerages and Professional Real Estate Organization’s Data Bases throughout the mainland and internationally.
2. Property Specific Website: Created with your Property’s information and images entitled www.TheNameofYourProperty.info or something similar.
3. Frequent Constant Contact Email Campaigns: Promote, Network, and Remind Maui’s most diligent and active Agents, our exclusive Client database, and International network of real estate professionals of the property’s Availability, Features, Advantages, Benefits, Price Adjustments, & other Announcements pertinent to the property through ConstantContact.
4. Strategic Print Advertising: We selectively advertise in distinguished publications like The High End to complement our comprehensive multi-channel strategy and help maintain visibility among qualified luxury buyers and industry peers.
5. High Quality Print Collateral Materials: including Full Color Glossy Brochures; Post Cards, and Property Feature Flyers that highlight the features, advantages, and benefits of the subject property and the surrounding amenities.
6. Promotional Mailings: to the other owners of the subject complex or neighborhood, the adjacent subdivisions and/or condominium complexes, to the appropriate top area agents and our client database to generate interest and word-of-mouth awareness of the availability, and Features, Advantages, and Benefits of the property.
7. Custom Sign: Created using professional photographs of the property with a direct number to call for showings and information, plus a Flyer Box that holds the Property Feature Flyers, if applicable.
8. Professional Videoor Visual Tour: created to showcase the property's layout and flow, allowing potential buyers and agents to virtually walk through the home. This tour is linked directly to your listing on the MLS and our website. When a property warrants it, we also produce a professionally filmed, high-resolution video presentation, which is shared on our website, MLS, and YouTube to maximize exposure.
9. Slideshow Presentation is shown regularly on two 52-inch Sony Flat Screen monitors in front of our Wailea Office. We have the main corridor, highest visibility, real estate office location in which we are adjacent to First Hawaii Title and the Wailea Wine Store and thus afford our clients superb marketing visibility among Maui’s most qualified clientele. We also promote our listings with IlluminatedFlyers in our windows.
10. Multiple Listing Service through The Realtors Association of Maui: List the property with the maximum allowed, 50 high quality 8 mega pixel detailed photos, as well as maximizing the copy to educate Buyers & Real Estate Agents of the property, finishes, amenities and lifestyle, plus showing availability times, property features, visual tour link, and showing parameters to maximize the Maui Real Estate market exposure.
11. Realtors’ Regional Maui Caravan to introduce the property first hand to the 30-60 plus attendees of the weekly caravan meeting. Solicit marketing suggestions and feedback to engage other agents in the process of marketing. A highly important business event that gives the agents the opportunity to Experience the property first hand, discuss its market position, and depart with color promotional materials to share with prospective Buyers.
12. OpenHouse: If amenable to client and accessible, open houses are sometimes utilized.
13. Brokers Open: If amenable to client and accessible we will hold a special catered event, exclusive invite-only, at the property to maximize exposure and keep the property fresh in the minds of our realtor colleagues.
14. Follow Up Report: Contact Buyer’s Agent and generate a Follow Up Report that is sent to our client, The Seller, after each showing of the property monitoring market feedback on unit comparisons, positives/negatives, offer supportive documents on occupancy rates, gross / net revenues, property management fees and possible creative negotiations with specific buyers.
15. Communicate Regularly and after each Showing with the Seller to advise them of the current market conditions and showing feedback.
16. Monthly Sellers Report sent to the Seller to advise them of the marketing progress, possible economic changes affecting their property, analysis of comparable properties as well as share copies of collateral materials property was featured in.
17. RoutinelyInspecttheProperty to monitor its showing condition and marketability.
18. Monitor the Latest New Listing Activity, newly pending properties, and most current sales of the condominium complex or residential sub-division to consider possible marketing strategy adjustments.
19. Support and Advise Buyer’s Agent of best available avenues to satisfy buyers needs relative to ensuring and facilitating the sale of your property.
20. Pricing, Plan on Price Reductions every 45-60 Days if Property is not Sold.
Our Comprehensive Global Reach
We Live in a Global Marketplace.
While All Real Estate is Local, Not All Property Buyers Are.
Our extensive marketing plan provides referrals, market intelligence and sales data to not only reach prospective buyers globally, but also to have true international exposure for our Sellers’ listings.
Maui’s Foreign and US Real Estate Purchases | Jan-Dec 2021
Top Foreign Buyers
Top States by No. of Sales
1.Hawaii (HI) : 1,975
2.California (CA) : 467
3.Washington (WA) : 137
4.Colorado (CO) : 72
5.Texas (TX) : 42
6.Oregon (OR) : 40
7.Nevada (NV) : 39
8.Utah (UT) : 37
9.Arizona (AZ) : 34
10.Illinois (IL) : 25
Top Buyers by Region
HI (587 | $403.2M)
CA (43 | $30.5M)
WA (16 | $13.3M)
CO (7 | $4.3M)
AK (4 | $4.0M)
Top States by $ Amount
1.Hawaii (HI) : $1.9B
2.California (CA) : $718.2M
3.Washington (WA) : $259.1M
4.Colorado (CO) : $122.0M
5.Texas (TX) : $78.2M
6.Arizona (AZ) : $65.7M
7.Nevada (NV) : $64.2M
8.Utah (UT) : $63.5M
9.Illinois (IL) : $55.8M
10.Massachusetts (MA) : $53.2M
HI (387 | $398.9M)
CA (173 | $267.7M)
WA (28 | $64.8M)
CO (26 | $48.9M)
NV (17 | $26.8M)
Canada (10 |$21.4M)
UK (2 | $5.7M)
HI (102 | $131.4M)
CA (27 | $48.2M)
CO (5 | $11.5M)
NY (3 | $10.4M)
AZ (3 | $4.2M)
Hong Kong (1 | $4.6M)
France (1 | $1.5M)
HI (473 | $630.3M)
CA (179 | $310.3M)
WA (75 | $159.5M)
CO (25 | $40.7M)
OR (21 | $30.8M)
Canada (35 | $61.1M)
NZ (1 | $665.0K)
HI (313 | $314.9M)
CA (31 | $47.6M)
WA (7 | $9.1M)
CO (5 | $13.1M)
AZ (5 | $5.8M)
Canada (1 | $799K)
HI (14 | $10.2M)
DE (1 | $5.2M)
AZ (1 | $1.8M)
CA (1 | $811.0K)
TX (1 | $698.0K)
Canada (2 | $1.1M)
West Maui
Upcountry Maui
North Shore Maui
Central Maui East Maui
South Maui
Our Comprehensive Global Marketing Effort
In today’s online, multicultural and global marketplace, real estate professionals must offer the broadest possible reach to gain a competitive advantage and sell their listings. Maui Real Estate Advisors acknowledges the significance of our client’s intention to sell one of their most valuable assets. Below are some of the International websites we have engaged specifically to promote our listings to International Clientele in order to complement our other extensive marketing strategies for our Listings. These websites offer the following and more:
• Promotes your listing internationally to over 500,000 agents worldwide.
• Gains exposure for your listing on global consumer websites.
• Builds a global referral network with agents in over 100 countries.
• Markets to multicultural and foreign clients via our personal website.
The largest real estate network on the web. Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms. Based in the U.S., it has been online since 2006.
Licensed to operate by the National Association of REALTORS. With relationships with nearly 800 multiple listing services (MLS), it offers the most comprehensive and accurate information.
The “Luxury Homes” category of websites. This site is located in Canada. This website is translated into 65 languages.
The first global platform to engage Chinese buyers in 2011. The site is the largest and most authoritative source for global property in Chinese, with over 2.4 million property listings spanning 58 countries.
Unique Homes maintains a targeted, exclusive audience looking to purchase high end properties from around the world. It offers the ability to network with other luxury real estate professionals and maintains superior marketing power to aid in reaching a global audience.
(The International Real Estate Federation) is a multi-discipline, networking organization for real estate professionals. They have members in more than 50 countries and World, Regional and National Congresses throughout the year.
The official website of the International Consortium of Real Estate Associations. It is the only global networking and marketing service exclusively for real estate professionals. Their site translates into 19 languages and 30 currencies.
The largest and most active professional social network in the real estate industry. It has been online for over 10 years and their reach is worldwide. This site translates into 9 languages.
USA Exposure & Marketing
of home buyers use the internet to search for property.
home buyers search the internet each month for real estate information. find the property they ultimately purchase on the internet.
(87+ million visitors per month) As part of our commitment to expertly market your home, we are one of the few featured agents for Maui on REALTOR.com. We provide powerful enhancements which allow your property to receive greater exposure to the millions of consumers who visit REALTOR.com each month.
Mobile Marketing
Our mobile applications make it convenient and easy for buyers to preview our customized listings on the go via mobile devices.
Virtual Tours
Giving potential buyers a virtual walk-through helps them experience the property in depth before scheduling an initial showing. It also helps the listing stand out from the competition.
Social Media
We strategically utilize social media channels like Instagram, Facebook, LinkedIn, and YouTube. Through our channels your listing is shown to over 3,500 agents and potential buyers.
Our targeted email marketing campaigns reach a database of over 3,000+ agents, clients, and potential buyers. Each property listing is strategically promoted through customized emails designed to highlight key features, attract interest, and generate inquiries. With a focus on maximizing visibility, our email campaigns ensure your property gets in front of the right audience at the right time.
Our company website is built with state-of-the-art technology and optimized to attract high traffic from buyers actively searching for Maui real estate. Featuring advanced property search tools, users can explore listings with interactive map features, filter results to suit their preferences, and save favorite properties for easy access. Designed to maximize exposure, our listings are prominently showcased to stand out and connect with the right audience, ensuring sellers get the visibility they deserve.
LH AFFILIATE MEMBER
LuxuryHomes.com recognizes Robert H. 'Robbie' Dein as an Affiliate Member ofour WoddWide Luxury Real Estate Network
Our site focuses on marketing luxury real estate, homes and properties. Robert H. 'Robbie' Dein is a leading luxury real estate broker in the region and is endorsed and supported by LuxuryHomes.com. When you list your luxury home or property with Robert H. 'Robbie' Dein it will be marketed on the LuxuryHomes.com website giving added exposure to potential buyers and agents around the world.
It is our privilege at LuxuryHomes.com to promote the leading real estate agents, brokers, and brokerages in each luxury market. We would like to congratulate you on choosing to work with the best and we truly believe that working with any ofour affiliate members will be an enjoyable and productive experience.
BUYER TRANSACTIONS FOR ROBBIE DEIN & KEN HAYO 2019
SELLER TRANSACTIONS FOR ROBBIE DEIN & KEN HAYO 2018
0 Kula Hwy.
BUYER TRANSACTIONS FOR ROBBIE DEIN & KEN HAYO 2018
Seller Listing Information
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Preferred method to contact you: Email Text Phone Time(s):
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Maui Real Estate Advisors LLC
SELLER’S REAL PROPERTY DISCLOSURE STATEMENT
Hawaii Association of REALTORS® Standard Form Revised 7/23 For Release 8/24
COPYRIGHT AND TRADEMARK NOTICE: THIS COPYRIGHTED HAWAI‘I ASSOCIATION OF REALTORS® STANDARD FORM IS LICENSED FOR USE UNDER TERMS OF THE HAWAI‘I ASSOCIATION OF REALTORS® STANDARD FORM LICENSE AGREEMENT LOCATED AT http://www.hawaiirealtors.com/standard-formpolicy. The use of this form is not intended to identify the real estate licensee as a REALTOR®. REALTOR® is a registered collective membership mark which may be used only by real estate licensees who are members of the National Association of REALTORS® and who subscribe to its Code of Ethics.
Information Obtained from Public Records (May Be Completed by Listing Broker)
Seller(s) Name(s)(All on Title):__________________________________________________________________________
Property Reference or Address: _________________________________________________________________________
Purpose of Disclosure Statement: Pursuant to Hawaii Revised Statutes, Chapter 508D (for residential real property), a seller of residential real property is obligatedto fully and accurately disclose inwritingtoa buyer all“materialfacts” concerningthe property. Forall other real estate transactions, includingthe saleofvacant land,sellers are also advised to uphold any common law duty to discloseall material facts necessary to prevent misleading representations. "Material facts" are defined as "any fact, defect, or condition, past or present, that would be expected to measurably affect the value to a reasonable person of the residential real property being offered for sale." Pursuant toHawaiiRevised Statutes, Chapter 508D-8, this Disclosure Statement may exclude information regarding: “(1) An occupant of the residential real property was afflicted with acquired immune deficiency syndrome (AIDS) or AIDS related complex, or had been tested for human immunodeficiency virus;or (2) The residential real property was the site of an act or occurrence that had no effect on the physical structure or the physical environmentof the residential real property, or the improvements located on the residential real property”. This Disclosure Statement is intended to assist Seller in organizing and presenting all material facts concerning the Property. It is very important that Sellerexercise due care in preparing responses to questions posed in the Disclosure Statement, and that all responses are made in good faith, are truthful and complete to the best of Seller's knowledge. Seller's agent, Buyer and Buyer's agent may rely upon Seller's disclosures. SELLER IS ENCOURAGED TO OBTAIN PROFESSIONAL ADVICE AND/OR HAVE AN EXPERT INSPECT PROPERTY PRIOR TO PREPARING THE DISCLOSURE STATEMENT.
MUST BE COMPLETED BY SELLER ONLY
Seller’s Statement: This is a statement concerning information relating to the condition of Property that: (i)is within the knowledge or control of Seller; (ii) can be observed from visible, accessible areas; or (iii)which is required by Section 508D-4.5 and 508D-15, Hawaii Revised Statutes. Seller may not be aware of problems affecting Property, and there may be material facts of which Seller is not aware that qualified experts may be able to discoveror time may reveal. Unless Buyerhas been otherwise specifically advised, Seller has not conducted any inspections of generally inaccessible areas of Property. BUYER SHOULD TAKE CARE TO PROTECT BUYER’S OWN INTEREST BY OBTAINING PROFESSIONAL ADVICE AND BY CONDUCTING THOROUGH INSPECTIONS AND OBTAINING EXPERT HELP IN EVALUATING PROPERTY AND BY OBTAINING BUYER’S OWN PUBLIC RECORDS. The statements made below are made by Seller and are not statements or representations of Seller’s agent unless specifically identified. The Disclosure Statement and the disclosures made by Seller are provided exclusively to Buyers involved in this transaction only, and donot apply to any subsequent sales not involving this Seller.
THIS DISCLOSURE STATEMENT IS NOT A WARRANTY OF ANY KIND BY SELLER OR BY ANY AGENT REPRESENTING SELLER AND IS NOT A SUBSTITUTE FOR ANY EXPERT INSPECTION, PROFESSIONAL ADVICE, OR WARRANTY THAT BUYER MAY WISH TO OBTAIN.
If not presently owner occupied, date of Seller’s last visit ___________________________. Has the property ever been rented during your term of ownership? [ ] Yes [ ] No If yes, Seller shall disclose allmaterial facts obtainable from Property Manager(s). Name of Property Manager(s): _____________________________________________
General Instructions to Seller: (1) AnswerALL questions in sections A and B. (2) If sections C, D, E, OR F apply to the subject property, even in part, that section shall be marked with an “X” as APPLICABLE and the entire section must be filled out in its entirety. If sections C, D, E or F do notapply to the subject property, then thatsection should be marked with “NA” as NOT APPLICABLE. (3) If any items are checked or answered “YES”, explain all material facts known to you in Section G. (4)If additional space is needed toexplain material facts, complete and attach additional pages as necessary. (5) All structures must be covered in the Disclosure Statement. Each separate structure shallbe addressed by separate Disclosure Statement. (6) “NTMK” means NOT TO MY KNOWLEDGE. (7) “NA” means NOT APPLICABLE and cannot be answered by “YES”, “NO”, or “NTMK”.
BUYER’S INITIALS & DATE
Hawaii Association of REALTORS® Seller’s Real Property Disclosure Statement RR109 Rev. 7/23
Page 1 of 6
SELLER’S INITIALS & DATE
A. GENERAL: Do any of the following conditions exist? Ifchecking “YES”, reference the question number, and describe in Section G.
YES NO NTMK NA
1) [ ] [ ] [ ] [ ] Is the property subject to Covenants, Conditions and Restrictions (CC&Rs)?
1a) [ ] [ ] [ ] [ ] Are there any violations of the Covenants, Conditions and Restrictions covering the property?
2) [ ] [ ] [ ] [ ] Is the property currently used for transient accommodations (e.g. Short Term Vacation Rentals, B&B)?
2a) [ ] [ ] [ ] [ ] Does the property have a license fortransient accommodations? If yes, please provide documents.
2b) [ ] [ ] [ ] [ ] If yes, are there any periodic re-licensing requirements?
2c) [ ] [ ] [ ] [ ] Are you aware of any violations past orpresent of the license or regulations?
2d) [ ] [ ] [ ] [ ] Has the property previously been used for transient accommodations?
3) [ ] [ ] [ ] [ ] Is the property subject to any recorded or unrecorded landlease (e.g. Pasture lease, Sandwich lease)?
3a) [ ] [ ] [ ] [ ] If yes, are there any violations of the land leases?
4) [ ] [ ] [ ] [ ] Is the property located in a Special Management Area?
4a)
[ ] [ ] [ ] [ ] If oceanfront property, are there any past and existing State Shoreline Certification? If yes, please attach.
5) [ ] [ ] [ ] [ ] Is the property located in a tsunamievacuation zone?
6) [ ] [ ] [ ] [ ] Is the property located in volcanic hazard Zone 1 or2?
7)
8)
[ ] [ ] [ ] [ ] Is the property subject to airpollution? (e.g., “VOG”, Smog) If yes, clarify type of pollution.
[ ] [ ] [ ] [ ] Is the property located in a geothermal subzone ornear a geothermal facility?
9) [ ] [ ] [ ] [ ] Is the property located in the regular path of aircraft and does it experience regular excessive aircraft noise?
10) [ ] [ ] [ ] [ ] Is the property located within the boundaries of the Air Installation Compatibility Use Zone (restricted air space) of any Air Force, Army, Navy,orMarine Corps airport as officially designatedby military authorities?
11) [ ] [ ] [ ] [ ] Are you aware of the presence of or removal of unexploded military ordinance in this general area?
12)
[ ] [ ] [ ] [ ] Is the property located in a Special Flood Hazard Area, as officially designated on flood maps promulgated by the National Flood Insurance Program of the Federal Emergency Management Agency for thepurposes of determining eligibility for emergency flood insurance programs?
12a)[ ] [ ] [ ] [ ] Does the property have a Pre-FloodInsurance Rate Map structure built before the following: Honolulu County 9/3/1980, Maui County 6/1/1981,Kauai County 11/4/1981, Hawaii County 5/3/1982
12b)[
12c)[
] [ ] [ ] [ ] Is there an Elevation Certificate? If yes, please attach.
] [ ] [ ] [ ] Has the property ever received Federal Disaster Funds?
13) [ ] [ ] [ ] [ ] Does the property lie within the sea level rise exposure area designated by the Hawai`i Climate Change Mitigation and Adaptation Commission?
14) [ ] [ ] [ ] [ ] Does the property lie adjacentto the shoreline?
14a) [ ][ ] [ ] [ ] If yes, does the property include any erosion control structure? If yes, disclose in section Gevery permitted and unpermitted erosion control structure on the property, expiration dates for each permitted erosion control structureon the property, and notices of alleged violations and fines for each expired permitted or unpermitted erosion control structure on the property.
15) [ ] [ ] [ ] [ ] Are there any easements affecting the property?
16) [ ] [ ] [ ] [ ] Are there any roadways, driveways, walls, fences, and/or other improvements which are shared with adjoining land owners?
17) [ ] [ ] [ ] [ ] Are there any known encroachments?
18)
19)
[ ] [ ] [ ] [ ] Are there any written agreements concerning items 15, 16, or 17?
[ ] [ ] [ ] [ ] Is access to the property restricted? [ ] Private Road [ ]By Easement [ ] Other
20) [ ] [ ] [ ] [ ] Are there any violations of government regulations/ordinances related to the property?
[ ] [ ] [ ] [ ] Are there any restrictions on rebuilding?
23) [ ] [ ] [ ] [ ] Are there any nonconforming uses or unpermitted structures on the property?
24) [ ] [ ] [ ] [ ] Is the property exposed to other types of recurring excessive noise (e.g., night club, school, street traffic, animals, coqui frogs)?
25)
26)
[ ] [ ] [ ] [ ] Are there any additional material facts as definedabove regarding the property?
[ ] [ ] [ ] [ ] Are there any other additional material facts related to the property concerning historic registers, Hawaii’s Historic Preservation Program, archaeological surveys orhistoric features?
27) [ ] [ ] [ ] [ ] Is there any existing orpast damage to the property or any of the structures (interior or exterior) from earthquake, fire, smoke, flooding, leaks, landslides, falling rocks, tsunami, volcanic activity, or wind?
28) [ ] [ ] [ ] [ ] Are there any additional material facts regarding the neighborhood that would be expected to measurably affect the value ofthe property (e.g., pesticides, soilproblems, irrigation, odors, pending development in the area, roadwidening projects, zoning changes; rail, etc.)?
29) [ ] [ ] [ ] [ ] Have there ever been substances, materials, or products known to be an environmental or health hazard such as, butnot limited to, asbestos, formaldehyde, by-products of methamphetamine manufacturing, radon gas, lead-based paint, fuel orchemicalstorage tanks, contaminated soil orwater?
30) [ ] [ ] [ ] [ ] Is there filled land on the property?
31) [ ] [ ] [ ] [ ] Has there ever been any settling or slippage, sliding, subsidence, or other soil problem?
32) [ ] [ ] [ ] [ ] Has there ever been any drainage, water infiltration, seepage, flooding, or grading problems?
33) [ ] [ ] [ ] [ ] Is there any damage caused by tree roots to/from the property or to/from anotheradjoiningproperty?
34) [ ] [ ] [ ] [ ] Were additions, modifications,and/or alterations made to theproperty withoutobtaining required approvals?
35) [ ] [ ] [ ] [ ] Does any other party have an unrecorded interest in the property and/ora say in its disposition?
36) [ ] [ ] [ ] [ ] Are there any lawsuits or foreclosure actions affecting the property?
37) [ ] [ ] [ ] [ ] If you purchased the property as a foreclosure, was the foreclosure judicial or non-judicial?
B. UTILITIES AND SERVICES: Do any of the following exist? If checking “YES”, reference the question number, and describein Section G.
1) What is the source of water supply? [ ] None
a) [ ] Public [ ] Private Is the property separately metered? [ ] Yes [ ] No
Is there a sub-meter? [ ] Yes [ ] No [ ] NA
Is there a shared water supply? [ ] Yes [ ] No
b) [ ] Catchment: Tank type ___________________ Capacity _________ Age______ Condition______________________
c) [ ] Other__________________________________________________________________________________________
2) Are you aware of any abandoned well(s) on the Property? [ ] Yes [ ] No [ ] NTMK
a) If Yes, have they been sealed as required by law? [ ] Yes [ ] No
b) If any well has beenabandoned and is unsealed, has the Hawai‘i’s WaterResource Management Commission been notified? [ ] Yes [ ] No
3) What type of waste water/sewage system does the property have? [ ] None
a) [ ] Public Sewer [ ] Private Sewer Connected? [ ] Yes [ ] No If no, is connection currently required? [ ] Yes [ ] No
Is there a separate sewer fee? [ ] Yes [ ] No If yes, describe in Section G. [ ] Individual Sewage Treatment Plant Vendor____________________________ [ ] Cesspool [ ] Septic System Location __________________ Last Pumped __________________ How Often? _________________________________
Did any cesspool or septic system pumping/overflow generate a report to any governmentalagency? [ ] Yes [ ] No Was there a fine? [ ] Yes [ ] No
b) Does the cesspool serve more than one dwelling orliving unit (A “dwelling” or, “living unit” is defined as having its own kitchen/food preparation area,bathroom and sleeping/living area), including “ohana” units? [ ] Yes [ ] No
c) [ ] Abandoned septic orcesspool Location ___________________Filled? [ ] Yes [ ] No [ ] NTMK
4) What is the source of electricalpower? [ ] None [ ] Public [ ] Photovoltaic [ ] Other:____________________________________________________________
a) Is the property subject to Special Subdivision Project Provision (SSPP) connection fees? [ ] Yes [ ] No [ ] NTMK
b) Hawaii law requires Sellers who pay their electricity bills directly to make a good faith declaration of electricity costs based upon the most recentthree-month period that the property was occupied. In this context, answer the following: Do you pay the electrical utility billdirectly? [ ] Yes [ ] No If yes, please state the amount you paid for electricity forthe most recent three-month period that the property was occupied. Mon/Yr: ________ Amount: ________ Mon/Yr: _______ Amount _______ Mon/Yr: _______ Amount:_______
Buyer’s actual electricity costs may vary substantially based on usage orconsumption. If Seller’s usage is significantly lower or higher than normal usage would suggest, please describe in Section G.
c) If Seller’s interest in a photovoltaic system is included in the sale, answer the following and attach ALL applicable documentation (i.e. leases/finance agreements, service/maintenance agreements, utility agreements net metering/buyback and/or credit agreements, usermanuals, battery maintenance and warranties).
Is the system [ ] Leased [ ] Financed [ ] Owned outright [ ] Other _________________________
d) If there is a photovoltaic system, does it contain an energy storage system, such as batteries? [ ] Yes [ ] No
5) If a Solar Hot WaterSystem is included with thesale, answerthe following and attach ALL applicable documentation (i.e. lease/financing agreement,service/maintenance agreements, user manuals). Is the system [ ] Leased [ ] Financed [ ] Owned outright Year installed: ________
6) If a Security Alarm and/or Home Automation System is included with the sale, answer the following and attach ALL applicable documentation (i.e. lease/financing agreement, service/maintenance agreements, user manuals). Is the system [ ] Leased [ ] Financed [ ] Owned outright
7) Gas or Propane: [ ] Piped [ ] Tank Leased [ ] Tank Owned [ ] None [ ] Not available
8) Telephone Service: [ ] Traditional [ ] Cable [ ] Cell [ ] Satellite [ ] Not available
9) Television Service: [ ] Cable [ ] Satellite [ ] Antenna [ ] Not available
10) Internet [ ] DSL [ ] Cable [ ] Not available [ ] Other ______________________
11) Is trash collection available? [ ] Public [ ] Private [ ] None [ ] NTMK
12) Is recycling collection available? [ ] Public [ ] Private [ ] None [ ] NTMK
13) Is greenwaste collection available? [ ] Public [ ] Private [ ] None [ ] NTMK
14) US Postal Delivery: [ ] PO Box [ ] Community/Cluster [ ] None [ ] Individual Curbside Box [ ] Other:______________________________
[ ] C. CONDOMINIUM SPECIFIC: Answer the following.
1) Name of Association of Apartment/Unit Owners (AOAO/AOUO) _________________________________________________
2) Management Company Name: ____________________________________________ Phone:_________________________
3) Is membership mandatory? [ ] Yes [ ] No
4) AOAO/AOUO fee(s) and payment frequency:________________________________________________________________ What is included inthe fee(s)?____________________________________________________________________________
5) If you are aware of future maintenance fee increases, special assessments, association loans or pending litigation foror against your Association, describe.________________________________________________________________________
6) Are there any “common area” facilities (such as pools, tennis courts, walkways, driveways, or other areas) co-owned in undivided interest with others?____________________________________________________________________________
7) Are there any restrictions/prohibitions imposed upon pet ownership? ______________________________________________
8) Is the Seller the developer of the CPR (Condominium Property Regime)? __________________________________________ a) If yes, has the Seller/developer sold one ormore of the properties in the CPR? __________________________________ b) If yes, what is the expiration date ofthe Public Report?_____________________________________________________
9) Are any parking spaces conveyed with the unit? If yes, howmany? _________ Stall Number(s) _____________
[ ] Assigned [ ] Unassigned [ ] Covered [ ] Partial [ ] Uncovered [ ] Private Garage [ ] Carport [ ] Standard [ ] Compact [ ] Tandem YES NO NTMK NA
10) [ ] [ ] [ ] [ ] Are thereany issues or special arrangements with parking?
11) [ ] [ ] [ ] [ ] Are any storage unit(s),boat dock(s), or any additional improvement(s) conveyed with the unit?
12) [ ] [ ] [ ] [ ] Has there been any damageto the unit dueto leakageor water intrusion from above or adjacent to the unit,or damage caused by leakage or water intrusion from the unit to areas or space below the unit?
13) [ ] [ ] [ ] [ ] Are you aware of any defects to the common or limited common elements affecting theunit?
[ ] D. ASSOCIATIONS (Condominium associations/CPR are described in Section C): Answer the following questions.
1) Name of Homeowner’s Association (HOA)/Community Association (CA): __________________________________________
2) Management Company Name: ____________________________________________ Phone:_________________________
3) Is membership mandatory? [ ] Yes [ ] No
4) HOA/CA fee(s) and paymentfrequency:____________________________________________________________________ a) What is included in the fee(s)? _________________________________________________________________________
5) If you are aware of future maintenance fee increases, special assessments, association loans or pending litigation foror against the Association, describe. _________________________________________________________________________
6) Are there any “common area” facilities (such as pools, tennis courts, walkways, driveways, or other areas) co-owned in undivided interest with others? ___________________________________________________________________________
7) Are there any restrictions/prohibitions imposed upon pet ownership? ______________________________________________
8) Are there any additional associations? [ ] Yes [ ] No. If yes, please describe in Section G and include fees, special assessments, and amenities.
[ ] E. IMPROVEMENTS: Includingbut not limited to all dwellings, structures, additions, alterations, modifications, structural orotherwise in oron the Property. Answer the following questions. Ifchecking “YES”, reference the question number, and describe in Section G.
YES NO NTMK NA
1) [ ] [ ] [ ] [ ] Are there any improvements, additions, structural modifications or alterations that exist at the property without required building permits, association design committee or other governmental approvals?
2) [ ] [ ] [ ] [ ] Were any improvements, additions, structural modifications or alterations built/made with building permits, association design committee or other governmental approvals?
2a) [ ] [ ] [ ] [ ] For any improvement(s)subject to a mechanic’s and materialman’s lien, has Notice of Completion been published?
2b) Date of publication _______________________ [ ]Unknown
2c) [ ] [ ] [ ] [ ] Were any of the building permits not finalized (closed) by the permitting agency?
2d) [ ] [ ] [ ] [ ] Were any of the improvements to the property built underan owner-builder permit?
2e) Date of Final Inspection Approval by the County: ______________
3) [ ] [ ] [ ] [ ] Was any electrical or plumbing work done without a licensed electrician or plumber?
4) [ ] [ ] [ ] [ ] Is the Seller/Builder a licensed contractor who is providing warranties?
5) [ ] [ ] [ ] [ ] Have you given any release orwaiverof liability, or release from a warranty to any government agency, contractor, engineer, architect, land surveyor, or landscape architect,for any defect, mistake, or omission in the design or construction of the Property?
6) [ ] [ ] [ ] [ ] Is the property sprinklered for fire protection?
7) [ ] [ ] [ ] [ ] Is the property equipped with smoke and/or carbon monoxide detectors? How many? Are they wired into the electrical system?
8) What is the age of the main roof and the roofing of any otheraddition(s)?________________________
8a) Has the roof been [ ] replaced, [ ] repaired, or [ ] treated? Ifchecked, describe in Section G.
9) [ ] [ ] [ ] [ ] Has there been any evidence or presence of mold, mildew,or fungus interior orexterior?
9a) If yes, has there been treatment? [ ] Yes [ ] No. If yes, describe when,how, and by whom in Section G.
10) [ ] [ ] [ ] [ ] Has there been any evidence or presence of any pest (e.g., roaches, fleas, bedbugs, mites,ticks, ants, rats, centipedes)?
10a) If yes, has there been treatment? [ ] Yes [ ] No. If yes, describe when,how, and by whom in Section G. 11) [ ] [ ] [ ] [ ] Has there been any evidence or presence of wood destroying organisms in the improvements (e.g., termites, powder post beetles,dry rot, carpenter ants, bees, etc.)? 11a) If yes, has there been treatment? [ ] Yes [ ] No. If yes, describe when,how, and by whom in Section G. 11b)[ ] [ ] [ ] [ ] Is there any known damage to the improvements caused by wood destroying organisms?
11c)[ ] [ ] [ ] [ ] Has the damage been repaired? If yes, list repairs.
12) [ ] [ ] [ ] [ ] Are there any transferable warranties (appliances, pest treatment, roof, photovoltaic, other)?
[ ] F. DEFECTS, REPAIRS OR REPLACEMENTS (Past orpresent): If you’re aware of any past or present defects, repairs or replacements, check items listed below, use the same number and describe in Section G (dates, repairs made, vendors, etc.). (1) [ ] Air Conditioning (15) [ ] Fire Sprinkler System (29) [ ] Solar Water Systems (2) [ ] Appliances (16) [ ] Fireplace/Chimney (30) [ ] Solar/Photovoltaic Systems (3) [ ] Bathtubs/Showers (17) [ ] Floors/Floor Coverings (31) [ ] Spa/Hot Tub/Sauna (4) [ ] Ceilings (18) [ ] Foundations/Slabs (32) [ ] Swimming Pool (5) [ ] Ceiling Fans (19) [ ] Gutters (33) [ ] Toilets (6) [ ] Central Vacuum Systems (20) [ ] Heating Systems (34) [ ] Ventilation Systems (alltypes) (7) [ ] Counters/Cabinets (21) [ ] Lawn Sprinkler System (35) [ ] Walkways/Sidewalks (8) [ ] Decking/Railings/Lanai (22) [ ] Lighting Fixtures (36) [ ] Walls Exterior/Trim (9) [ ] Doorbells (23) [ ] Plumbing - Exterior (37) [ ] Walls Interior/Baseboards/Trim (10)[ ] Doors (all types) (24) [ ] Plumbing -Interior (38) [ ] Water Features (11)[ ] Driveways (25) [ ] Roofs/Eaves/Skylights (39) [ ] Water Heater (12)[ ] Electrical Systems Switches, etc. (26) [ ] Security Systems (40) [ ] Window Coverings/Awnings (13)[ ] Electronic Controls/Remotes (27) [ ] Sinks/Faucets (41) [ ] Windows/Screens (14)[ ] Fences/Walls/Gates (28) [ ] Smoke Detectors/Alarm (42) [ ] Other_______________________
G. Reference Question, Section, Number, and Explanation.List any additional material facts. List any attachments or exhibits:
Under Hawaii law, unless otherwise agreed to in the Purchase Contract, Buyer shall have fifteen (15) calendar days from the date of receiving the Disclosure Statement toexamine the Disclosure Statementand to rescind the Purchase Contract. Such rescission must be made in writing and provided to Seller directly or Seller’s agent. If timely written notice is provided, then all depositsmade by Buyershall be immediately returned to Buyer. Failure to deliver the written notification to the Seller within the specified period shall bedeemed an acceptance of the Disclosure Statement.
Seller gives permission to any Broker to provide this statement to any Buyer whose identity has been made known to Seller, including a service provider involved in the transaction between the parties.
NOTE: THERE IS NO WARRANTY ON PLAIN LANGUAGE. An effort has been made to put this document into plain language. But there is no promise that it is in plain language. In legal terms, THERE IS NO WARRANTY, EXPRESSED OR IMPLIED, THAT THIS DOCUMENT COMPLIES WITH CHAPTER 487A OF THE HAWAII REVISED STATUTES. This means that the Hawaii Association of REALTORS® is not liable to any Buyer, Seller, or other person who uses this form for any damages or penalty because of any violation of Chapter 487A. People are cautioned to see their own attorneys about Chapter 487A (and other laws that may apply).
CARAVAN REPORT
Thank you for coming to see our listing on caravan.
Please take a moment to complete this survey. If there is any way we can help you or your clients, please let us know.
Location:
Caravan Date:
Name: Office: Phone: Email:
I would recommend this listing to client(s).
How do you rate…
EXTERIOR
INTERIOR
LOCATION
VIEW
PRICE
At What Price Would You List this Property?
What do you think the Sales Price Might be?
Favorite Feature of this Property:
Least Favorite Feature of this Property:
What would you do to IMPROVE the “APPEAL” of the property?
Additional Comments:
SHOWING FOLLOW UP
Thank you for showing our listing.
Please take a moment to complete this survey. If there is any way we can help you or your clients, please let us know.
Location:
Showing Date:
Agent Name:
Buyer Name: BUYER FEEDBACK
How was the EXTERIOR
How was the INTERIOR
How was the LOCATION
How was the VIEW
How was the PRICE
Are your Buyers… Yes Possibly No When?
Considering a SECOND SHOWING? Considering Making an Offer?
Single Family Homes, Condominiums, Vacant Land, & Investment Opportunities
Sample of Monthly Update
Aloha,
I hope all is well with you and your family and you are enjoying the start of 2018 There have been some showings this past month and another tomorrow so the new price is clearly having some affect. We are also looking forward to a successful Broker’s Open on Thursday late afternoon. I have also included the 2017 year-end Real Estate Statistics for your review, see attached.
As far as the current market for West Maui & also isolating just Kaanapali Homes between 3 and 6 million, attached please find the Summary Analysis’ with the corresponding full printouts for each of the homes that are listed in the Summaries reviewed via the links below. In Kaanapali, there were three new Listings that came up for sale this past month including yours (currently 10 for sale overall), no new Escrows and no new Closings. In West Maui overall there were eight new Listings (currently 32 overall), two new Escrows (currently 4 overall) and one new Closing. Kaanapali did have 3 Closings over the past six months compared with West Maui overall which only had one additional. Clearly in this price range, Kaanapali is the most active area, which is a shift from a year ago when Kapalua was the most active.
Kaanapali 3 to 6 Million: Click Here to View Listings West Maui 3 to 6 Million: Click Here to View Listings
With regards to marketing, as you know, we continue to utilize many platforms to expose your home to potential Buyers and Real Estate Agents. Basically trying to always leave no stone unturned. This is constant throughout the listing process. This past month we held a very successful Realtor’s Caravan as well as sent out multiple Constant Contact e-blasts to all agents and our database about the new price and re-listing. Finally, below please find the updated web visitors viewing your unit on Realtor.com, which we pay for premium position for our listings - the #1 real estate website, which is just one of the 900+ we syndicate to as well as an overview of some other sites below that.
Web Visitors: Report date: Dec 31, 2023
Other Sites: View Online Report Here
As always, please let us know if you have any questions, concerns or want to discuss anything in further detail. Thank you and enjoy your week.
Of all the things home owners control when selling their home, the condition of the property is one of the most important. A crucial part of marketing any product is the presentation of the product. Corporations and retail businesses understand this concept and pay millions of dollars each year to advertising and marketing consultants to get the best advice possible.
The same is true for real property. In order to compete effectively with other sellers, home owners must present their homes to the marketplace in an attractive, desirable condition. When you bought your home, you probably comparison shopped. Well, buyers are still doing that today. According to the National Association of Realtors, the average purchaser looks at 10 to 20 properties prior to purchasing a home. Regardless of how many properties are on the market, available buyers will always seek the best priced property that is in the best condition.
Think Like a Buyer!
You are not just selling a house. You are selling shelter, lifestyle, and dreams. People always want the best for themselves, and your home should represent the buyer’s answer to this goal. Put yourself in the buyer’s shoes! Remember, they arrive at your front door wanting to find the right home. Don’t make them search somewhere else for it. If you have done your homework, every room in your home will create a desire for the buyer to stay.
Start Making a List!
Walk outside and take a look at the property through the critical eyes of a buyer. Is there anything that needs repairing, looks worn, or is outdated? Start writing these items down on your list. Walk through the interior and do the same things. Ask for the assistance of everyone in your family. After all, a shorter sales time will benefit everybody in the family.
Do Everything Before Putting Your Home on the Market!
Complete all of your repairs, improvements, and enhancements prior to your first showing. Remember, your best showings come early in the listing period. Be ready!
How to Sell Your Home Faster and for More Money!
The following pages will guide you step by step through the process of preparing your home for sale to achieve the highest possible sale price in the least amount of time. Our concentration will be in six areas: (1) Repairing, (2) Cleaning, (3) Neutralizing, (4) Space Management, (5) Atmosphere, and (6) Staging.
Repairing
1.The rule of thumb is, if something needs repair, fix it! There are probably many things in your home that you have simply become used to over time...things that you have been promising yourself that you will attend to. Well, now is the time. The buyer will mentally add up the cost of repairing all those minor flaws and end up with an amount that is generally much higher than what it would cost you to do the repairs.
You might be saying to yourself, “these repairs aren’t any big deal.” But the buyer is thinking, “If the owners didn’t care for these little items, then what about the roof and the furnace?” Needed small repairs and perceived owner neglect will either lower the purchase price or lengthen the time required to sell.
2.Check all walls for peeling paint and loose wallpaper.
3.Large repairs: In today’s climate of open disclosure and vigilant professional home inspections, the rule is “Treat a buyer as you would yourself.” Repair any problems with major systems or offer an allowance for the buyer to make repairs after closing. Always disclose anything that you know about the property. Having been a consumer yourself, you know that buyers will more readily make a purchase decision with someone whom they can trust.
Cleaning
4. Every area of the home must sparkle and shine! Each hour spent will be well worth it. Would you rather buy a clean car, or a dirty one? Would you hurry to buy a pair of shoes with mud on them?
5. Clean all windows, inside and out. This helps make the house sparkle.
6. Clean all wall-to-wall carpeting and area rugs. Clean and polish linoleum, tile and wooden floors.
7. Clean and polish all woodwork if necessary. Pay particular attention to the kitchen and bath cabinets.
8. Clean and polish all light fixtures.
Neutralizing
9. Be cautious about selecting colors when painting or replacing carpeting. Your objective here is to make your home appeal to the largest possible buying segment. Ask yourself “How many of the available buyers would be able to move into your house with their furniture and not have to replace the carpeting?” Position your home on the market to be as livable to as many people as possible.
10. Forget your personal taste...the “market” is always demand driven! The average buyer will have a hard time looking beyond blue carpeting and bold wallpaper. Consider replacing unusual or bold colors with neutral tones. Two coats of white paint may be the best investment you ever made.
Space Management (Involves creating the illusion of more space)
11. Arrange furniture to give the rooms as spacious a feeling as possible. Consider removing furniture from rooms that are crowded. If necessary, store large items.
12. Pack up collectibles...both to protect them, and to give the room a more spacious feel. Leave just enough accessories to give the home a personal touch. Dispose of unneeded items.
13. Remove all clutter and make it a habit to pick up clothing, shoes, and personal possessions each day for possible showings.
14. Empty closets of off-season clothing and pack for the move. Organize them to demonstrate the most efficient use of space. Leave as few items on the floor or shelves as possible.
15. Use light to create a sense of space. All drapes should be open. Turn on all of the lights throughout the home before a showing, and be sure to replace any burned out light bulbs!
Atmosphere
When placing yourself in the potential buyer’s shoes, you will want to consider the overall atmosphere of your home. Keep in mind your sense of smell as you go through the check list. Create the atmosphere of your home as a shelter, a place that is safe and warm, and in good condition.
16. A clean smelling house creates a positive image in the buyer’s mind. Be aware of any odors from cooking, cigarettes, pets, etc., that may have adverse effects upon potential buyers. Remember that some people are much more sensitive to odors than others. Smokers rarely notice the odor of tobacco that fills their homes, and pet owners may be oblivious to objectionable cat or doggy odor.
17. You can use products like carpet deodorizers, air fresheners, and room deodorizers; but the best strategy is to remove the source of the smell rather than cover it up.
18. Unfortunately, often the only way to remove the smell of pet urine from flooring is to rip up the carpeting and padding and replace them. If this is preventing the sale of your home, don’t hesitate to make this investment.
19. If smoking or cooking odors have permeated your home, have your carpets and furniture cleaned, and air out or dry-clean your drapes.
20. Mildew odors are another no-no. Don’t allow wet towels to accumulate in hampers or dirty laundry to pile up in closets.
21. Once offensive odors are removed, consider adding delightful ones. Recent studies have shown that humans have strong, positive responses to certain smells. Cinnamon, fresh flowers, breads baking in the oven are all excellent ways to enhance your property for sale.
Staging
This part of preparing your home for sale is the most fun and involves the use of color, lighting, and accessories to emphasize the best features of your home.
22. Study magazine ads or furniture showrooms to see how small details can make rooms more attractive and appealing. The effect of a vase of flowers, an open book on the coffee table, a basket of birch logs by the fireplace, a scented candle, etc. can make the difference in a room.
23. The use of a brightly colored pillow in a wing chair or a throw blanket on a couch can add dimension to a sterile room.
24. Soften potentially offending views, but always let light into your rooms. Replace heavy curtains with sheer white panels. Never apologize for things you cannot change. The buyer will either decide to accept or reject the property regardless of the words you say. Just present your home in the best possible way with complete honesty.
25. Go through your photo albums and select pictures of your house and yard during all seasons. If hung at eye level in a well-lighted area, the pictures will speak for themselves and give you yet another selling stage.
26.Take advantage of natural light as much as possible by cleaning windows, opening shades and drapes etc. Add lamps and lighting where necessary. Be sure that all fixtures are clean and have functioning bulbs.
The Exterior
Check your home for any needed maintenance just as a buyer would. Repaint or touch up as necessary. You can’t make a better investment when you are selling your house! Don’t let the outside turn buyers off before the inside turns them on.
27. Color has the power to attract. A tub of geraniums, a pot of petunias, or a basket of impatiens on the front steps is a welcoming touch.
28. If you are selling during the winter months, consider using a wreath of dried flowers on the front door.
29. If you have a porch or deck, set the stage with pots of flowers and attractively arranged furniture.
30. Check to see that all doors and windows are in good working order. Give special attention to your home’s exterior doors and front entry. Clean and paint doors if necessary. Remember, first impressions are likely to color the remainder of the house tour.
31. Wash all windows and replace any broken and cracked window panes.
32. Screens should be free of any tears or holes.
33. Inspect all locks to ensure that they are functioning properly.
34. Check for loose or missing shingles.
35. Invest in a new doormat that says “Welcome”.
The Yard
36. Make sure the yard is neatly mowed, raked and edged.
37. Prune and shape shrubbery and trees to compliment your house.
38. Consider adding seasonal flowers along the walks or in the planting areas. Plop the plants into a well-placed wheelbarrow, an old-fashioned washtub, or what have you. Such standbys as nasturtiums, petunias, impatiens, and verbena are easy to maintain if you only remember to water them regularly. Try a row of sweet smelling alyssum to line a short sidewalk or pop in some perky dwarf marigolds to form a cheerful oasis of color in your yard.
39. It is important to devote at least one area of your yard to outdoor living. Buyers will still recognize a scene set with a picnic table and chairs and respond positively to it. Cover your picnic table with a fringed, red-and-white checked cloth set out some plastic plates and glasses bring out the barbecuing equipment, and buyers will almost smell the hot dogs cooking!
The Driveway
40. The driveway is no place for children’s toys. Not only are such things dangerous, the clutter is unsightly.
41. The surface of your driveway should be beyond reproach; after all, it’s one of the first things a buyer will see when he drives up. Sweep and wash the driveway and walks to remove debris, dirt and stains. Repair and patch the cracks, edge the sides and pull up any weeds.
The Front Entry
Whether a gracious proportioned center-hall or a small space just large enough for a coat rack and a tiny table, this part of your home deserves your particular attention.
42. Study your entry hall and ask yourself what kind of impression it makes for your home. Dried flowers or a small plant can make a striking focal point on a hall table any time of the year.
43. Virtually any entry hall will benefit from a well-placed mirror to enlarge the area.
44. Your entry hall’s flooring will be observed carefully by the prospective buyer. Make sure the surface is spotless and add a small rug to protect the area during showings.
45. The entry hall closet is the first one inspected. Make it appear roomy. Add a few extra hangers. Hang a bag of cedar chips or a pomander ball to give a pleasant, fresh scent. Remove all off-season clothing.
The Living Areas
Think of these areas as if they were furniture showrooms. Your job is to make each room generate a positive response. Add touches that make a room look truly inviting.
46. Sweep and clean the fireplace. Place a few logs on the grate to create an attractive appearance. You are welcome to have a fire going for showings during the winter months ... it creates a great atmosphere.
47. Place something colorful on the mantel, but don’t make it look like a country craft store.
48. Improve the traffic flow by removing excess furniture. Have easy traffic flow patterns. Be sure that all doors open fully and easily.
49. Draw attention to exposed beams or a cathedral ceiling with special lighting. Be sure to remove any cobwebs and dust.
50. Remove oversized television sets if they dominate the room. If necessary, substitute with a smaller one until you move.
The Dining Room
Avoid going overboard. To be effective, any stage setting that you create should reflect the character of your entire home appropriately.
51. Set the scene by setting the table with an attractive arrangement. Add fresh or silk flowers as a centerpiece.
52. Visually enlarge a small dining area. If your dining table has extra leaves, take one or two out. Consider placing your dining table against the wall. Remove any extra “company” chairs. Consider putting the oversized pieces in storage until your house is sold.
The Kitchen
Pay particular attention to your kitchen. This room continues to be the “heart of the home”. A pleasant, workable kitchen is near the top of most buyers’ list of priorities and is a room that buyers always scrutinize closely.
53. Avoid clutter! Clean counters of small appliances and store whenever possible to maximize the appearance of work space.
54. Check the counter top around your sink, and remove any detergent or cleanser, etc., that may be cluttering the area.
55. Sinks, cabinets, appliances and counter tops should be clean and fresh.
56. All appliances should be absolutely clean, bright, sparkling, and shiny!!
57. Clean off the top of the refrigerator! If you must use that space for storage, use baskets and bowls to camouflage the items kept there.
58. Set the scene with an open cookbook, a basket filled with fruit, a basket of silk flowers, or a ceramic mixing bowl and wire whisk.
59. Create the aromas associated with happy homes! Bake some cookies from premixed, refrigerated cookie dough, start baking a loaf of refrigerated bread dough, or pop a frozen apple pie in the oven.
60. In the heat of summer, place a bowl of lemons or limes on the counter to provide a fresh and pleasant aroma.
61. Clean and organize all storage space. If your cabinets, drawers, and closets are crowded and overflowing, buyers assume that your storage space is inadequate. Give away items you don’t use, storing seldom-used items elsewhere, and reorganize the shelves. Neat, organized shelves and drawers look larger and more adequate for prospective buyer’s needs.
62. Large, cheerful kitchen windows are an advantage and should be highlighted as a special feature of your home. Take a critical look at the window treatment ... is it clean, sharp and up-to-date? Do the curtains need washing or the blinds need cleaning? Would the window area look better without any window treatment?
63. Set the table for an informal meal with bright place mats and a generous bowl of fruit as a centerpiece.
The Laundry Room
A separate laundry room is a true asset and is one of the most frequent requests that buyers make during a home search. Don’t hide this treasure behind closed doors. Spruce up the room and open the door proudly for inspection.
64. Add a fresh coat of paint or put up cheerful wallpaper.
65. Organize all closets and storage space.
66. Remove all dirty laundry. Keep current with your laundry or store all dirty laundry in a closed container... maybe even hermetically sealed and welded shut!
67. Clean and polish the washer and dryer.
68. Consider adding an attractive, coordinated throw rug.
The Stairways
Stairways should provide an attractive transition from one level of your home to another.
69. Make certain the stairs are safe! Stair lighting should be more than adequate, stairs must be clutter free, stair railings tight and secure, and runners or carpeting tacked securely. Remove any items from the surface of the stairs and store elsewhere. Check the condition of the walls, and paint or re-wallpaper if necessary.
70. If the stairs are a focal point of the main living areas, carefully choose accents to improve the visual appeal. If you have a wide, gracious staircase, emphasize this feature by hanging a few pictures along the wall. Draw attention to a handsome lighting fixture by polishing the brass and dusting each small light bulb or crystal prism.
71. Large master bedrooms are particularly popular among today’s home buyers. Make your bedroom larger. Paint the room a light color, remove one of the bureaus if the room is crowded, and minimize clutter to maximize spaciousness. Aim for a restful, subdued look.
72. A private bathroom off the master bedroom is a real sales plus. Decorate to coordinate with the color Virtually all buyers are looking for a house with plenty of closet space. Try to make what you have appear generous and well planned. Remove and store all out of season clothing. Remove any items from the floor area. This will make a closet seem more spacious. Arrange all shelves to maximize the use of space.
73.Virtually all buyers are looking for a house with plenty of closet space. Try to make what you have appear generous and well planned. Remove and store all out of season clothing. Remove any items from the floor area. This will make a closet seem more spacious. Arrange all shelves to maximize the use of space.
74. Make sure all articles in the closet are fresh and clean smelling. When prospective buyers open your closet door, they should be greeted with a whiff of fresh smelling air.
75. Make sure all closet lights have adequate wattage and are operating. Add battery operated lights to those closets that lack them. Lighted closets look bigger, are more attractive, and allow buyers to inspect the interiors easily.
76. Take the time to explain the importance of marketing to your children. Encourage them to participate in preparing your home for showing; particularly the principle of appealing to the widest possible market segment. Ask your children’s cooperation in making their beds and picking up their rooms prior to showings. Consider promising a special reward if they willingly participate in your house-selling goals.
77. Have them pack up any items that are not currently in use and dispose of unused possessions.
78. Remove any crowded, unusual, or personal wall hangings such as posters and store them until your home is sold.
The Bathrooms
Wise sellers take special pains when preparing their bathrooms for scrutiny by strangers. The bathroom is a room and a very personal one. Prospects will inspect yours carefully, so be sure it is immaculate. Cleanliness is the key! Make sure that all surfaces are spotless.
79. Replace worn or dirty shower curtains, clean and repair caulking, and remove nonskid bath decals that are in poor condition.
80. Clear off countertops and store all personal care products out of sight.
81. Repair any faucets that leak or do not function properly. Clean off mineral deposits with vinegar or commercial products.
82. Clean and organize all cabinets and drawers. Don’t forget the medicine cabinet and the storage cabinet under the sink. Dispose of old items and polish the shelves.
83. Remember to appeal to a wide range of buyers. Play down dominant colors with contrasting neutral colored towels and accessories. If your bathroom is mostly white or neutral, add a few cheerful accents of color. Don’t hesitate to buy a few new towels and a rug...you’ll be taking them with you to your new home.
84. Scrub and wax an old floor. Cover the largest area you can with a freshly washed scatter rug.
85. Decorate and personalize to create a pleasing, individual look. Consider bringing out your best towels and perfumed guest soaps. Add a plant for color and freshness.
86. A gentle hint of fragrance in the air is fine, but keep it subtle.
The Garage
87. Sweep and wash the floor to remove dirt and stains. Organize tools, garden equipment, bicycles, etc. A clean, organized garage appears larger.
88. If the area is dark, add more light. If it is small and accommodates only one car, remove your car before buyers visit. An empty garage always looks larger. If you have a two car garage with very little extra room, remove one of your cars so that buyers can make their inspection in comfort.
89. Get rid of anything that you don’t plan to move to your new home. Place remaining stored material neatly in boxes, and position away from walls.
IMPORTANT: Points to Remember When Showing Your Home
Increase your chances. The more people who see your home, the more likely you are to sell it quickly. Yes, it’s inconvenient to show your home at dinner time, but if the people buy your home, isn’t it worth it?
There shouldn’t be any major house cleaning at this point. The kinds of tasks you ought to be concerned with now are simple ones: making the beds, stuffing last night’s dirty pans in the dishwasher, picking up loose newspapers, etc. Even young children can participate by “cleaning” their rooms.
If the season is appropriate, open the windows in each room and let in some fresh air. Stale air isn’t appealing, particularly in a home with smokers or pets.
Keep your thermostat at a comfortable setting.
Turn on all the lights for every showing before prospective buyers arrive. This also gives you an opportunity to select the lighting effects you want for each room. No area of your home should be dark.
Turn off the television and turn on light background music.
Arrange for pets and children to be at a neighbors’ house. Perhaps it’s unfair to lump children with pets, but young children can distract buyers from their purpose. Keep pets away from buyers.
Don’t try to “sell” the house with words! By this time you have prepared the house for sale... let it sell itself. Buyers buy on emotion theirs, not yours! Keep the emotions under control.
“Depersonalize” the house as much as possible. Take down any extra family pictures that are hanging on the walls or displayed on the shelves. They will often distract the buyers’ attention from what is most important ... the house!
Most importantly, please leave the home during all showings. It is uncomfortable and difficult for buyers to view the home when owners are present. Oftentimes, they will rush through the home and not give it the proper attention your home deserves. It is also hard for the buyers to “picture themselves” living in the home when the sellers are present.
NOTICE TO SELLERS
Keep in mind that buyers want to obtain the lowest price and best terms for themselves.
We recommend that you do not discuss the following types of information with any buyers or real estate agents, regardless of whom they represent, other than your listing agent, Robert H. Dein and Kenneth M. Hayo:
1.Reason for selling.
2.Motivation/urgency to sell.
3.Willingness to consider an offer less than the listing price.
4.Terms under which you would sell.
5.Relocation, timing, benefits of policies...if applicable.
6.Items of personal property which you “might” be willing to include in a sale.
7.Any confidential information that would serve to disclose your negotiating strategy.
Single Family Homes, Condominiums, Vacant Land, & Investment Opportunities
Summary of Marketing & Closing Services
There is a lot that goes into buying and selling a home…a lot more than most people realize. When it comes time to make a decision about one of your most important assets, you need to have confidence in the Realtor you choose. As the Number One Realtors on Maui for most of 2017, we work diligently to accomplish your goals in a loyal, efficient, timely, stress free, and secure fiduciary manner. Because we are dedicated to getting you what your home is worth, we have developed a detailed marketing plan to ensure that everything goes as smoothly as possible from the pre-listing preparations to the final contractual negotiations, and to the successful close of escrow. We are your Proactive Maui Advisors and you can count on us and our staff from the inception of our relationship and whenever you need “Anything Maui” long after your property is sold. Just Ask!
To show you just how we spend our time working for you, we have compiled a list of the steps our staff executes to make sure selling your property is an enjoyable, timely, stress-free, and profitable experience. The following list includes just the person hours involved in selling your property. If we worked at a specified dollar rate like a doctor or an attorney, you’d have to pay us a retainer fee. Not only do you get our upfront commitment, the benefit of our market knowledge, dedication and deployment of staff time and materials from inception, it will not cost you a penny if we do not accomplish your goals and get results! As you can see, we are singularly devoted to getting your property sold, earning our remuneration and your respect and appreciation.
There is a difference in service once you understand the up-front commitment and work involved in diligently marketing and completing the sale of a property. These figures are based on working hours alone and do not include the cost of supplies, travel, and expenses paid on behalf of the marketing and closing plan.
Maui Real Estate Advisors LLC
Robert H. “Robbie” Dein Broker/Owner, ABR, CRS, RSPS RB18398 (808) 250-3564
Robbie@MauiRealEstateAdvisors.com
Kenneth M. “Ken” Hayo Principal Broker/Owner RB15529 (808)283-8435
Ken@MauiRealEstateAdvisors.com
Maui Real Estate Services
Prepare prelisting packet and deliver
minutes Prepare comparative market analysis
Study and analyze market data.....................................................................................
by comparable properties
personalized market program
to appointment
time
Complete listing data and contracts
Input listing in multiple listing computer
Input and launch marketing plan
Install sign, lockbox, take photos,
Create marketing ads and property brochure
Design and prepare “Just Listed” E-Mail Blast
Record and prepare the IVR Marketing System
Prepare and create Internet web site and ad
Prepare mailing labels and process “Just Listed” postcards
Contact top agents with new listing information ...........................................................
minutes
minutes
minutes
minutes Pick up Sellers’ disclosures..........................................................................................
Research mortgage information
Start initial 10-day marketing program and send first documents
Prepare and set up co-op broker instruction and log ...................................................
Place and proof weekly newspaper ad ......................................................................
Weekly follow-up with co-op agent to track file .............................................................
Verify date / time for closing and notify all parties
Negotiate contractual issues and problems
Order seller closing statement for review
Review seller closing statement for correct figures ......................................................
Prepare commission statements
Compile all bills and receipts for Escrow as needed
Renegotiate any closing walk-thru issues
Install sold sign
Notify parties of closing figures
Correct closing figures
Prepare closing packet for Buyer
Deliver keys to buyer’s agent
Pick up sold signs, lock box and keys
minutes
minutes
minutes
minutes
MISSION STATEMENT
“Our Commitment is to go Above and Beyond; Our Passion is Exceeding your Expectations; Our Reward is Achieving Excellence in your eyes, Earning your Referrals and Maintaining our Position as your Maui Real Estate Advisor.”
Aloha Real Property Seller,
Thank you for listing your property for sale with Maui Real Estate Advisors, LLC. You can be assured that we will work hard to sell your property, obtain the best possible price, in the shortest time and with the least amount of inconvenience to you.
The sale of your property is important to both of us; consequently, we have developed this packet of information for your review. You will find information about the sales contract “Purchase Contract”, a disclosure about our company affiliations, information about Agency Definitions and the Company policy regarding Dual Agency. Also included is informative and important information about state and federal laws such as Seller’s Real Property Disclosure Law, Foreign Investment Real Property Tax Act (FIRPTA) and Hawaii Real Property Tax Act (HARPTA) that you will need to complete prior to the sale of your property. We have also enclosed valuable information about other issues, which you will face during the “sales process” such as lead-paint disclosure and recent legislation regarding encroachments on land surveys. We hope the materials included in the packet will help give you a clear understanding of the procedures needed to sell your property.
If your property is held in leasehold, you will receive an additional packet of materials that apply to the Hawaii Leasehold Disclosure Law.
Once again, thank you for listing your property with Maui Real Estate Advisors, LLC. If you have any questions, remember – we’re as close as your phone.
Respectfully,
Your Maui Real Estate Advisors, LLC Representative
It Pays to Work with a Realtor®
Without the professional guidance and expertise of a REALTOR, buying or selling a home can often entail many unnecessary complications regarding real estate transactions. The following information, as prepared by the National Association of Realtors, best describes the many benefits of contacting a professional Realtor to handle all your real estate needs. The term Realtor is a registered, collective membership mark, which identifies real estate professionals who are members of the National Association of Realtors and subscribe to its strict Code of Ethics. In the state of Hawaii, the terms used for this professional designation are Realtor, meaning a person who has a Broker’s license, and Realtor Associate, the designation for a Salesperson.
BUYING A HOME
As a member of the National Association of Realtors, a REALTOR subscribes to its strict Code of Ethics.
A REALTOR has the most information in one place about what is “on the market”, including homes listed by other Realtors. You need not waste time looking at unsuitable homes.
A REALTOR can help you find the home best suited to your needs – size, style, features, location, accessibility to schools, transportation, shopping, etc.
A REALTOR can suggest simple changes that could make a prospective home more suitable for you and improve its utility and value.
A REALTOR can supply information on real estate values, taxes, utility costs, municipal services and facilities.
A REALTOR has no emotional ties to a home, can be objective about it and can point out its advantages and disadvantages.
A REALTOR acts on your behalf, as your agent, to present offers and counteroffers until an agreement is reached.
A REALTOR will continue acting on your behalf during the “loan” and “escrow” processes and will explain the steps and help make your purchase a smooth one!
FIRPTA: Foreign Investor Tax Act
The Foreign Investment in Real Property Tax Act (section 1445 of the IRC code) of 1980 (“FIRPTA”) provided that foreign investment in U.S. real estate would be subject to U.S. capital gains tax on dispositions of U.S. real property interests [defined as (a) any interest in U.S. real property of (b) any interest in a U.S. corporation in which 50% of its assets constitute U.S. real property interests.
GENERAL RULE:
Under the law, the Buyer or transferee of any U.S. real property interest is required to (a) withhold and deduct a tax equal to 15% (sometimes 10%) of the amount realized by the Seller or transferor upon the disposition of the property regardless of the amount of cash otherwise present in the transaction and (b) file Forms 8288 and 8288-A to report and transmit the amount withheld to the IRS, unless one of five exemptions applies.
However, the transferee’s compliance with the withholding requirement does not relieve the transferor from its FIRPTA tax liability. The tax is designed only to approximate the transferor’s tax on net gain and is still required to file a federal income tax return with the IRS for the year in which the sale occurs and either (a) obtain a refund of any amount over withheld or (b) make additional payments required in excess of the amount of tax previously withheld.
EXEMPTIONS FROM WITHHOLDING:
1. Transferor furnishes Non-Foreign Status Certification. No withholding is necessary if the seller or transferor furnished to the transferee a certification stating that the transferor is not a foreign person and stating their U.S. taxpayer identification number. The transferee must keep such certification for at least 5 years.
2. Purchase Price for Residence. No withholding is necessary if an individual transferor who is owner occupant acquires the property and the price does not exceed $300,000.
3. Transferee Receives IRS Withholding Certificate. The withholding may be reduced or eliminated pursuant to qualifying statement issued by the IRS. The IRS in cases may issue this certificate where (a) the transferor is exempt from U.S. tax, (b) an agreement for the payment of tax is entered into with the IRS, or (c) reduced withholding is appropriate. The IRS must act upon a completed application for a withholding certificate not later than the 90th day after its receipt.
4. Notice of Non-recognition Treatment. No tax is necessary if transferee (a) receives the appropriate notice from transferor that the transferor is not required to recognize gain or loss with respect to the transfer in compliance with the requirements of Treasury Regulations 91.1445-2(d)(2) and (b) provides a copy of the notice to IRS within 20 days of the property transfer. Have a Tax Attorney review the notice to ensure compliance with requirements of the exemption before closing.
5. U.S. Corporation not USRPI. Sale of stock in a U.S. corporation may be exempt from withholding under certain circumstances. Consult with your attorney on matters related to the sale of stock.
HARPTA: Hawaii Real Property Tax Act
USE OF HAWAII FORMS ON TAX
WITHHOLDING: In order to promote a greater compliance by nonresidents of Hawaii (whether U.S. persons or foreigners) in reporting income from sales of real property located in Hawaii, the Hawaii legislature enacted (and recently Section 235-68, Hawaii Revised Statutes (“HRS”), requiring every Buyer of Hawaii real estate to deduct, withhold and pay to the Hawaii Department of Taxation 7.25% of the amount realized by the Seller or transferor of Hawaii real estate. This withholding requirement, as amended, is effective on Sept 15, 2018. This 7.25% withholding tax is designed to enforce Hawaii state income taxes on the sale or disposition of Hawaii real estate in the same manner a the enforcement provisions of The Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”). Similar to FIRPTA enforcement provisions, the state tax-withholding requirement would not increase the amount of income tax paid by nonresidents since the amount withheld will be claimed as a payment on the Hawaii nonresident income tax return.
GENERAL RULE: Under the Hawaii withholding requirement, the Buyer or transferee of any Hawaii real estate is required to (1) withhold and deduct a tax equal to 7.25% of the amount realized by the Seller or transferor upon the disposition of the property and (2) file Forms N-288 and N-288A to report and transmit the amount withheld to the Hawaii Department of Taxation within 20 days of escrow closing, unless one of four exemptions apply.
EXEMPTIONSFROMWITHHOLDING:
1. Transferor furnishes Hawaii Resident Certification. No withholding is necessary if the Seller or transferor furnishes to the transferee a property completed Form N-289 stating (a) the transferor’s taxpayer identification number and (b) that the transferor is a Hawaii resident. However, this exemption will not apply if the transferee has actual knowledge that the information on the Form N289 is false. (Note that the recent amendments to the definition of Hawaii resident for purposes of the withholding required by HRS 9235-68 would include foreign corporations and partnerships which are registered with the Hawaii Department of Commerce and Consumer Affairs to do business in the State of Hawaii.)
2. Transferor’s Affidavit of Principle Residence. No withholding is necessary if the transferee receives an affidavit by the transferor stating (a) the transferor’s taxpayer identification number, (b) that the transferor used the property as a principle residence for the year preceding the date of the transfer and (c) the sales price for the property does not exceed $300,000.
3. Transferee Receives Hawaii Withholding Certificate. (a) The withholding under HRS 9235-68 may be reduced or eliminated pursuant to a “withholding certificate” issued by the Hawaii Department of Taxation. A withholding certificate may be issued by the Hawaii Department of Taxation upon receipt of Form N-288B establishing that either (1) the transferor will not realize any gain with respect to the transfer or (2) the transferor will have insufficient proceeds to pay the withholding required by HRS 9235-68 after payment of all costs, including selling expenses and the amount of any mortgages or liens secured by the property. (b) The withholding may also be reduced or eliminated pursuant to a “written agreement” with the Hawaii Department of Taxation. Persons who engage in more than one real property transaction in a calendar year or to whom meeting the withholding requirements are not practicable are eligible to enter into these written agreements.
4. Notice of Non-recognition Treatment. No withholding is necessary if transferee receives from transferor a properly completed Form N-289 stating (1) that transferor is not required to recognize gain or loss with respect to the transfer and (2) briefly describing the transfer and summarizing the law nd facts supporting transferor’s claim. Non-Hawaii residents doing 1031 exchanges of real estate may consider this option to avoid withholding.
Agency: Definition of Client & Customer
CUSTOMER:
Seller’s Agents can help you as a Customer write your offer on a standard Purchase Contract, can present your offer to the Seller, and can report back any acceptance or counter offer. In short, they can transmit your offer to purchase even though they are agents of the Seller.
Brokers know that their Sellers are often interested in the Buyer’s background and qualifications. This is especially true when you are asking the Seller to help finance the purchase or to wait until you qualify for a loan. Be prepared to discuss your financial qualifications with the Broker just as if you were talking directly to the Seller.
Without necessarily becoming your Agent, Brokers offer many services that you may find helpful as you decide about the right property and the right terms or the purchase offer. Even though the Seller employs and pays the Broker, the Broker traditionally works closely with prospective Buyers to provide help and decision-making information, such as:
The type of neighborhood, Location of available properties & describe their attributes and amenities, Respond honestly and accurately to questions concerning the property, Disclose material facts the Broker knows, Comparable values, Financing opportunities and procedures, Property’s condition and title, Closing procedures, Estimated monthly expenses, Closing costs
CLIENT:
If you wish, you can retain the services of a Broker to help you buy real property – just as you would hire an accountant or attorney. You become a Client in the purchase and your Broker represents you exclusively. You gain all the benefits of your Broker’s experience and expertise. Your Broker will write offers, negotiate on your behalf, and share with you as much insight as possible in the negotiations.
The Broker, in a Client relationship, owes fiduciary duties of loyalty and faithfulness along with the items listed above which includes providing help and decision-making information.
Company Agency Policy
SINGLE AGENT:
Maui Real Estate Advisors, LLC and its Sales Associates shall act as Single Agents when representing either the Seller or the Buyer. In an open-house situation, the Seller is the Client and the Buyer is sometimes the Customer and sometimes the Client (when only the listing Sales Associate is involved), for example, when the Buyer has already entered into an “Exclusive Buyer Agency” with the Listing Broker before seeing the property.
In most cases, however, Buyers are Clients. Sellers are Clients ONLY if the company is the “Listing Broker”, not when the Company represents a Buyer on cooperative brokerage transactions with another firm.
CONSENSUAL DUAL AGENCY:
When listing a Seller’s property, disclosure is made that the Company’s policy is one of Consensual Dual Agency with Seller’s Consent. This occurs when a Buyer-Client, represented by one Sales Associate in the Company, decides to purchase a Seller-Client’s property represented by another Agent in the Company. In the case of dual agency, Maui Real Estate Advisors, LLC and its Sales Associates will limit their fiduciary duties (loyalty and full disclosure) by neither disclosing to the Buyer the lowest price or flexibility in terms that the Seller will accept, nor disclosing to the Seller the highest price or flexibility in terms that a party considers confidential. The Sales Associates will agree to keep the confidential information of one Client from the other Client.
In the case of Dual Agency, the Sales Associate has the duty to make a full, fair and timely disclosure of all material facts and information within his/her knowledge readily available to the other Sales Associate which might in any way affect either the Seller’s or the Buyer’s rights and interests or otherwise influence either party’s actions or decisions in connection with the completed transaction.
Seller’s Real Property Disclosure
According to Hawaii law, the Seller is charged with responsibility to disclose, in writing, all material facts relating to residential real property that are (1) within the knowledge or control of Seller, (2) disclosed by documents recorded at Bureau of Conveyances and (3) can be observed from visible, accessible areas. (Summarized from HRS 580D; Original law 7/1/95 and update law effective 6/12/96)
DEFINITIONS: A Material Fact, as stated in the law, is “any fact, defect, or condition, past or present, which materially affects the value of the residential real property being offered” for sale. The definition of Residential Real Property, for this purpose, shall be any “fee simple or leasehold real property…from one to four dwelling units; or a residential condominium or cooperative apartment…”
EXEMPTIONS: Some notable exemptions to this law are (1) Sale to a co-owner, (2) Sale to a spouse, parent, or child of the Seller, (3) Sale by devised, descent or court order, (4) initial sale of new residential real property, (5) Sale on conversion for leasehold to fee simple & (6) Sale by operation of law, including but not limited to foreclosure, bankruptcy, partition, transfer or deed in lieu of foreclosure.
EXCLUSIONS: An occupant is/was afflicted with AIDS or AIDS related complex should not be disclosed. However, a death from this cause should be disclosed without relating the cause or, if the property was the site of an act or occurrence that had no effect on the physical structure of the physical environment of the property or the improvements. An example could be a random arrest made on the front lawn of the home.
ABSENTEE OWNERS: Are not exempt from Seller’s Real Property Disclosure Statement Requirements.
RECEIPT OF DISCLOSURE: The Buyer shall indicate receipt on the contract, or in any addendum attached to the contract or in a separate document. The Seller’s agent shall keep the receipts taken for disclosure on file for a period of three (3) years from date the receipt was taken.
LATER MATERIAL FACT: The Seller shall provide an amended disclosure to Buyer within 10 days after Seller’s discovery of information, and not later than twelve noon of the last business day prior to the recordation unless otherwise agreed upon in writing. Then, the Buyer shall have to 15 calendar days to examine amended disclosure and at Buyers opinion; Buyer may rescind the Purchase Contract.
NOTIFICATION REQUIRED BY SELLER: The following conditions, for example, must be disclosed by Seller If the property is:
1. Within boundaries of a special flood hazard area
2. Within boundaries of noise exposure area shown on Department of Transportation maps for any public airport
3. Within boundaries of military air installation compatibility use zone
4 Within anticipated inundation areas of tsunami inundation maps
Lead-Based Paint Disclosure
Federal law, passed in 1996, has made it mandatory that the presence of lead-based paint be made known to prospective purchasers of real property. This law applies to both sales and leases of most public and private housing built prior to 1978.
FEDERAL REQUIREMENTS: The law requires that the Seller provide the Buyer with the (1) opportunity to inspect the property (with or without the aid of a professional inspection), and the Seller (2) must disclose any known information regarding the existence of lead-based paint (but the rule does not obligate the owner to conduct any testing or perform any hazard reduction); the law requires that the Seller (3) provide available reports (if any lead hazard evaluations or reports exist); and the Seller will provide a federal approved lead information pamphlet (this disclosure must occur before the Buyer is obligated under the contract); then (4)the signed acknowledgement of receipt of the pamphlet and understanding of the law must be retained by the Seller for 3 years.
EXEMPTIONS TO THE LAW: This Federal Law does not apply to the following categories of housing—
Sales or rentals of “0” bedroom dwellings (studios)
Rentals of individual rooms in housing
Sales/rentals of housing for the elderly/handicapped
INSPECTION OPPORTUNITY: The law provides the Buyer with an opportunity to finance and conduct an inspection to determine risk assessment for the property, at the Buyer’s expense. The parties to the transaction can negotiate the timing and terms of such inspection(s) on the sales contract. Along with the right to inspect, the Buyer will be provided (as stated above) with an EPA/HUD/CPSC pamphlet that explains the dangers associated with lead poisoning.
Understanding Termites
Your home is probably the largest single investment that you will make and it is important that you learn how to protect it from termite infestation. An infestation by “dry wood” termites can usually be controlled by “spot treatment” or “tenting”. But, damage caused by “ground” termite can be more severe and expensive to correct.
DRY WOOD TERMITES: All termites feed on wood or other material containing cellulose. They are soil insects with a primary reproductive queen. They start new colonies by swarming out of their present colony to find a mate. This brief period is the only time in their lives when they are attracted to light. Swarming takes place usually from April to June and maybe in October on hot, still, humid evenings.
The most common termite is the West Indian Dry Wood Termite, Cryptotermes Brevis. This termite gains entry to homes either by being carried into the home in infested items (such as furniture or books) or by flying. This is how it often gains access to high-rise condominiums. This species lives right inside the wood it eats and obtains water from the wood. The droppings from this termite are very hard, somewhat oblong, and vary in color from light to dark brown. These droppings accumulate in the wood and then a small hole is created just large enough to push the droppings out. They perform this house cleaning periodically which is why the droppings may only be seen on an intermittent basis.
The Dry Wood Termite is controlled by treating isolated spots or by tent fumigation. For approximately 20 years tenting has been done with the gas, Vikane, also known as sulfuryl fluoride. This gas is designed to penetrate even large pieces of wood, leaving no residue; so theoretically, the termites could reinfest the next day. Because they reproduce slowly and have small colonies, it takes several years before “dry wood” termites can do damage of any significance.
GROUND TERMITES: The termite of extreme concern to the homeowner is the Formosan Subterranean Termite, Coptotermes formosanus whose colonies range in size up to two million termites or more. The queen may live for 20 years and lay up to 2000 eggs a day. Satellite colonies may develop, each with its own queen. Unlike the dry wood termites which lives right in the wood, the ground termite nests in the ground and forages over three quarters of an acre in search of food. Once it has found a good source it will persistently attack from several directions. A colony will consume, on average, two pounds of wood each day. If cut off from one avenue of entry to the property, they will search for others. Typically, this termite lives in the ground because it requires a humid environment. Therefore, it stays inside walls or within a piece of wood. This characteristically conceals it until significant damage has been done.
These termites have a very high moisture requirement; therefore they will search for wet areas. This is why down spouts should drain away from the foundation, sprinkler systems should not be placed close to the house, and water should not be allowed to accumulate adjacent to or under house. This termite enters a house in numerous ways: through hollow tile walls, around plumbing which penetrates a concrete slab, or through cold joints or cracks in a slab. They will build a characteristic “mud tube” to gain access to the house and for this reason the edge of the foundation should not be obscured with plants and siding should not extend to the soil. Cold joints around the outside of the house should not be covered with doorframes or siding. Fence posts should be metal poles; any wood kept at least four inches above the soil and should not be attached directly to the side of a house. Soil-to-wood contact of any kind should be avoided whether it is fences, siding or just scrap wood which is stacked on the ground. This insidious pest will also attack non-wood items such as electrical and telephone cables, plastics, metals, etc. It has caused electrical short circuits, fires, blacked out large areas by chewing through electrical and telephone cables and lines, and chewed holes in PVC water mains.
The ground termite cannot be controlled in the same way as the dry wood termite. It is excluded with physical or chemical barrier. Injecting a liquid insecticide under the slab of the house or other areas does traditional treatment. A newer system of setting baits in the ground to attract termites is now also available. The poison bait is designed to eliminate them in their nest. Consulting a Licensed Pest Control Company is highly recommended for every Buyer.
What to Expect from a Termite Inspection
1. A non-destructive inspection will be performed on the house by a licensed pet control company. Walls will not be opened; floors or wall-to-wall carpet will not be pulled up. The inspection is limited to those areas that are visually accessible. No claim is made for wall voids, behind and under kitchen and bathroom cabinets, under floor coverings and any and all areas not visually accessible. The roof will not be inspected.
2.The current Termite Inspection Report as mandated by State law (Hawaii Revised Statutes Chapter 460-J-19) requires that the report by done on a form called a PC-9. The inspector is to identify any old termite damage and identify conductive conditions as well as any live, visible infestations. However, the report is limited to what extent there is live, visible termite infestation in the improvements located on the property and limited to what extent there exists visible prior or present termite damage. The word “damage” is subjected, and as used here, reflects only the opinion of the inspector.
3. The Buyer and Buyer’s agent should attend the inspection. The Buyer should ask questions and learn from the inspector. Depending upon the inspector and the size of the improvements, the termite inspection can take anywhere from ½ hour to several hours.
4. No warranty is either expressed or implied with the inspection. The inspection is limited to the date and time of the inspection. Minutes after an inspection, termites could enter the improvements. The report does not warrant against future infestations or conditions nor does it warrant against any type of infestation other than termites.
5. If the inspection report indicates there is VISIBLE damage to the improvements caused by termite infestation, Seller must disclose this under paragraph C-44a, Later Discovered Information. The Seller Disclosure Law of Hawaii allows the Buyer to review this new information and have up to 15 days to decide whether to terminate the Purchase Contract if the Buyer does not approve the Termite Inspection Report regardless of whether or not Seller agrees to repair said damage.
SUGGESTIONS FOR THE PREVENTION OF TERMITE INFESTATIONS:
1. Keep the perimeter of the house as dry as possible. Use gutters and down spouts to divert water away from the house. Cap off or redirect sprinklers, which may be wetting the soil adjacent to the house.
2. Avoid all soil-to-wood contact including fences/decks, & do not store wood in the yard or adjacent to the home.
3. Maintain at least four inches between any siding and the grade of the soil.
4. Plants should not be grown under the eve of the house or within eighteen inches of the house.
5. Homes should be treated for prevention of ground termites every three years and inspected every three months.
6. It is highly advisable to seek proper advice on architectural design (with termites in mind), construction techniques, preventive termite measures and landscaping design. We cannot overemphasize how important it is to treat for prevention of ground termites. They are very pernicious and capable of extensive damage before being detected. It is much easier to keep them out than destroy them once they have invaded a home. Termite prevention is a multi-industry task. Seek proper advice!
Selling a Condominium, Co-op or PUD
CONDOMINIUM RESERVES: In 1991, the legislature passed a law requiring all condominium associations to (1) adopt and follow budgets and (2) establish adequate reserves. The law’s intent is to require condominium owners and boards to realistically evaluate the actual cost of running their project – not just the day-to-day expenses but the long term costs of major repairs and replacement. Reserves are money, which a condominium board collects regularly from owners and saves to pay the large, future expenses, which result from the deterioration of the condominium project over time. For example, the costs of repairing or replacing the roof and elevators. Buyers are encouraged to read the condominium reserve study and financial documents before deciding to purchase the unit. These documents will be provided during the escrow process, according to the Purchase Contract, and a period of time is stipulated on the contract for this review. If the Buyer it is presumed that the documents are “accepted as received” and the option to terminate the contract on takes no action this basis will be waived.
MAINTENANCE FEES: The Buyer should be aware of what items and costs are included in the maintenance fee, such as central air conditioning, electrical, water, hot water and other similar charges. Generally, buildings with a larger number of amenities have larger maintenance fees. With regard to Bank-Owned Properties (REO’s), Buyer should be aware of Act 48 and its application towards delinquent fees. Buyer may be responsible for up to 12 months or $7,200 of delinquent fees, whichever is less.
COMMON ELEMENTS: Common elements of the building usually consist of such items as laundry rooms, swimming pools, grounds, decks, recreation areas, meeting rooms, laundry chutes, lobby areas, hallways, storage areas, saunas, etc. They are comprised of those areas not inside apartments and are intended for use by the apartment owners in accordance with the purpose for which they were intended. The purchaser of the apartment will be also purchasing a proportionate percentage interest in these elements and will also pay a proportionate amount of maintenance fee for their upkeep. Limited common elements, which have restrictions on use and can be rented for income or used on a limited basis. Examples of such limited common elements could be a convenience store, shop, kiosk, parking lot, etc.
CONDOMINIUM DOCUMENTS: On the Purchase Contract, the Buyer’s obligation to buy is contingent upon the Seller providing information about the Homeowner Organization Documents for review and approval. The usual documents under review include: Declaration and Amendments, Current House Rules, Current and/or Proposed Budget, Minutes of the last Annual Meeting, By-laws and Amendments, current Financial Statement, Board of Directors Meetings, Articles of Incorporation, Inventory of Furniture, Copy of any and all litigation complaints filed by or against the A.O.A.O that are currently unresolved, the Reserve Study or Summary and Property Information Form RR-105C.
PARKING STALLS: The declaration for the condominium will designate the parking stall, which is appurtenant to the respective apartment. The parking stall is a limited common element and the costs and expenses such as maintenance, repair, replacement, additions and improvements shall be charges to the owner of the apartment to which the limited common element is appurtenant in an equitable manner as set forth in the declaration. When selecting an apartment to purchase, it is important to see the parking stall. Verify the location, size, and other features such as covered, uncovered, tandem, compact, in order to know what you are buying.
Your agent will be happy to assist you in understanding these important issues and documents or will help you obtain further explanation from the condominium management company if necessary.
Selling a Single Family Home
The Purchase Contract contains some issues, which pertain primarily to the purchase of a single-family residence. The most important of these are the following:
SURVEY: A survey confirms the accuracy of the description of the property, the accuracy of the land area, and the existence or absence of encroachments onto the property or onto a neighboring property. The Company policy is to require the following paragraph be included in the terms of the Purchase Contract
K-2 Survey. No later than ______ days prior to the Scheduled Closing Date, Seller shall, at Seller's sole cost and expense, have a registered land surveyor (a) stake the Property even if the stakes are visible and, (b) if improvements exist along the Property line, provide Buyer with a map (with surveyor's stamp) and accompanying report to show the perimeters of the Property and the location of any improvements in the vicinity of the perimeter Property lines. This survey and map may not address whether improvements on the Property are in compliance with State and/or County requirements, and/or subdivision covenants, conditions, and restrictions. The following paragraph is standard provision of the Purchase Contract:
K-3 Boundary Encroachment. If an encroachment onto an adjoining property or onto the Property by an adjoining property is revealed or discovered, Buyer may elect to accept (in writing) such existing encroachment(s) at its current location, within ____ days of discovery, or Buyer shall instruct Seller to, and Seller shall use Seller’s reasonable efforts to: (a) remove such encroachment(s) if acceptable to Buyer at Seller’s and/or the adjoining owner(s) sole cost and expense; or (b) obtain encroachment agreement(s) at Seller’s and/or the adjoining owner(s) sole cost and expense, with the affected adjoining owner(s) which is acceptable to Buyer, and if neither (a) nor (b) occurs within ____ days prior to closing, Buyer may accept the encroachment(s) or elect to terminate this Purchase Contract pursuant to paragraph O-3. If in remedying the revealed encroachment(s), the encroachment(s) is partially or totally removed, then Seller shall be responsible for the correction of the survey (if Paragraph K-2 was checked) to reflect any changes in the revealed encroachment(s) no later than _____ days prior to closing. Under Chapter 669 Hawaii Revised Statutes (de minimis), certain tolerances for discrepancies involving improvements built along the boundary line of the Property for specific zonings are established, and such improvements shall not be considered encroachments.
M-1 Contingency on Documentation Approval. Buyer's obligation to purchase the Property is contingent upon Seller providing the following documentation to Buyer for review and approval. (Applicable Documents Only) Approved Minutes of Last (3) Board of Directors Meeting, Current and/or Proposed Budget, Current House Rules, Articles of Incorporation/Association and Amendments, if any, Declaration and Amendments, if any, Design Standards and/or Guidelines, Bylaws and Amendments, if any, Insurance Summary, Copy of any and all pending litigation complaints filed by or against the Owners Association and/or its directors that are currently unresolved, if any, Lenders Disclosures, if obtainable, Minutes of Last Annual Meeting, Planned Community Documents, Covenants, Conditions & Restrictions (CC&R’s), Project Information Form RR105c, if obtainable, Current Financial Statement, Reserve Study or Summary, if obtainable, Subdivision and/or Title Documents, Other, be specific. (ADDITIONAL LANGUAGE IN CLAUSE M-1 NOT INCLUDED)
Note: Buyers are given this information to assist them in selecting a property to purchase. Sellers are advised to read this information so that the questions that Buyers ask can be easily answered.
Important Terms of the Purchase Contract
The Purchase Contract contains seven pages of terms which are either standard or offer optional choices (those with check boxes). All Buyers should review the paragraphs listed below. If you have any questions, please feel free to ask your Agent to explain in greater detail:
CLOSING
F-1 For purposes of this Purchase Contract, closing shall be the date when all appropriate conveyance documents are recorded. Buyer and Seller agree to promptly execute appropriate or customary documents when requested by Escrow.
MEDIATION AND ARBITRATION
O-4 Mediation. If any dispute or claim arises out of this Purchase Contract during this transaction or at any time after closing between Buyer and Seller, or between Buyer and/or Seller and a Brokerage Firm and all its licensees assisting in this transaction, and the parties to such dispute or claim are unable to resolve the dispute, Buyer and Seller agree in good faith to attempt to settle such dispute or claim by non-binding mediation. This paragraph shall not apply to any complaint of unethical conduct against a Brokerage Firm and all its licensees who are obligated to comply with the Code of Ethics of the National Association of REALTORS®. Such complaints must be brought before the Local Board of REALTORS® of which the Brokerage Firm and all its licensees are members.
O-5 Arbitration. If any dispute or claim arises out of this Purchase Contract during this transaction or at any time after closing, between Buyer and Seller, or between Buyer and/or Seller and a Brokerage Firm and all its licensees assisting in this transaction and if such dispute cannot be resolved through mediation, then the parties are encouraged to consider arbitration. It is recommended that the parties seek legal counsel to make this determination.
I-8(b) Asbestos Disclosure. Buyer is aware that asbestos materials are hazardous to one’s health, particularly if asbestos fibers are released into the air and inhaled. In the past (before 1979, but possibly since) asbestos was a commonly used insulation material in heating facilities and in certain types of floor and ceiling materials, shingles, plaster products, cement and other building materials. Buyer is aware that Buyer should make appropriate inquiry into the possible existence of asbestos on the Property. Structures having “popcorn” or “cottage cheese” type ceilings may contain asbestos fibers or asbestos-containing material. Such ceilings should not be disturbed since it could release asbestos fibers in the air. Any disturbance should be done only by licensed abatement contractors.
J-5 No Continuing Warranty. Buyer understands that no continuing warranty after closing regarding the interior or exterior of the Property is expressed or implied.
J-6 Home Warranty Programs. Buyer understands that Buyer may obtain from a third party for a fee, home warranties covering appliances, electrical and plumbing equipment and other items included with the Property. If such a home warranty is available, it may be obtained at Buyer's expense from any provider of Buyer's choice.
Seller’s Acknowledgement of Receipt of Seller's Information Packet
I, , hereby acknowledge that I have received, read and understand the information contained in this packet. The complete packet includes the following:
• Letter to the Seller
• It Pays to Work with A Realtor®
• FIRPTA: Foreign Investor Tax Act
• HARPTA: Hawaii Real Property Tax Act
• Agency: Definition of Client & Customer
• Company Agency Policy
• Seller's Real Property Disclosure
• Lead-Based Paint Disclosure
• Understanding Termites
• What to Expect from a Termite Inspection
• Selling a Condominium, Co-op or PUD
• Selling a Single Family Home
• Important Terms of the Purchase Contract
Seller’s Signature Date
Seller’s Signature Date
Building Permits
Recently one of our agents was at a meeting with the Deputy Director of Public Works and they were discussing some challenges with permits. Specifically, not being able to find adequate permit information especially on homes built long ago. This is an issue with many homes on Maui. MAPPS, the County of Maui site to check permit status, is not always complete or accurate. In any case, we thought it might be proactive to look into your property to make sure all permits were passed, closed and accurate. When we go into escrow, if any issues with permits come up it might cause delays, so better to look into now rather than later to ensure accuracy.
Please go to https://mapps2.co.maui.hi.us/EnerGov_Prod/SelfService#/home click on the "Search" button on the top of the homepage. In the drop down box choose "Permit" and put in your address on the next line.
Please then double-check your records to that which the county has. We have found discrepancies in the past. Thanks and again it is better to look into this now rather than go through this in escrow.
Maui Real Estate Advisors LLC
Single Family Homes, Condominiums, Vacant Land, & Investment Opportunities
Glossary of Terms
Acceptance: Consent to an offer to enter into contract.
Adjustable-rate mortgage (ARM): A mortgage that allows the interest rate to be changed periodically.
Agency: A legal relationship in which an owner-principal engages a broker-agent in the sale of property or a buyer-principal engages a broker-agent in the purchase of property.
American Society of Home Inspectors (ASHI): A professional trade association that provides training and education in home inspections. Members must meet qualification requirements to join.
Amortization: The gradual repayment of a mortgage by periodic installments.
Annual percentage rate (APR): The total finance charge (interest, loan fees, points) expressed as a percentage of the mortgage amount.
Appraisal: An evaluation of a piece of property to determine its value.
Assessed value: The valuation placed on property by a public tax assessor as the basis of property taxes.
Balloon mortgage: A mortgage where the amount financed is not fully amortized over the period of the loan. When the loan becomes due, a large sum or “balloon” payment is required to satisfy the mortgage.
Bridge loan: A short-term mortgage made until a longer-term loan can be made; it’s sometimes used when a person needs money to build or purchase a home before the present one has been sold.
Maui Real Estate Advisors LLC
Broker: A person licensed by a state real estate commission to act independently in conducting a real estate brokerage business. Although requirements vary from state to state, an individual must usually have at least one year of experience in the industry and pass an examination to earn a broker’s license.
Cap: The maximum amount an interest rate or monthly payment can change, either at adjustment time or over the life of the mortgage.
Closing: The final step in the sale and transfer of ownership of a property. The title is transferred from the Seller to the Buyer; the Buyer signs the mortgage and pays costs of settlement; any money due the Seller and Purchaser is paid.
Closing costs: Fees and expenses, not including the price of the home, payable by the Seller and the Buyer at the closing (e.g., brokerage commissions, title insurance premiums, and inspection, appraisal, recording, and attorney’s fees).
Closing Statement: A financial statement rendered to the Buyer and Seller at the time of transfer of ownership, giving an account of all funds received or expended.
Cloud on the title: Any condition which affects the clear title to real property.
Commercial bank: A financial institution authorized to provide a variety of financial services, including consumer and business loans (generally short-term), checking services, credit cards, and savings accounts.
Comparables: Properties similar in size and character to the one being bought or sold.
Consideration: Anything of value to induce another to enter into a contract (i.e. money, services, a promise).
Contingency: A condition that must be satisfied before a contract is valid.
Contract: An agreement to do or not to do a certain thing.
Conventional mortgage: A fixed rate, fixed-term mortgage not insured by the federal government.
Deed: A legal document conveying title to a property.
Deed (quit claim): A deed that transfers only that title or right to a property that the holder of that title has at the time of the transfer. It does not warrant or guarantee a clear title.
Department of Housing and Urban Development (HUD): A U.S. Government agency established to implement certain federal housing and community development programs.
Disclosure laws: State and federal regulations which require Sellers to disclose such conditions as whether a house is located in a flood plain or whether there are known defects in or affecting the property.
Earnest money: A portion of a down payment given to the Seller by a potential Buyer indicating the Buyer’s intent to complete the purchase of the property.
Easement: A right to use the land of another.
Encroachment: A condition that limits the interest in a title to property such as a mortgage, deed restrictions, easements, unpaid taxes, etc.
Equity: The value of real estate over and above the liens against it. It is obtained by subtracting the total liens from the value.
Equity mortgage: A mortgage based on the borrowers’ equity in their home rather than on their credit worthiness.
Escrow: The placement of money or documents with a third party for safekeeping pending the fulfillment or performance of a specified act or condition.
Federal Housing Administration (FHA): An agency within the Department of Housing and Urban Development (HUD) that administers loan guarantee programs and loan insurance programs to make more housing available.
FHA Insured mortgage: A mortgage under which the Federal Housing Administration insures loans made, according to its regulation, by approved lenders.
Fixed rate mortgage: A loan that fixes the interest rate at a prescribed rate for the duration of the loan.
Foreclosure: Procedure whereby property pledged as security for a debt is sold to pay the debt in the event of default.
Growing-equity mortgage: A mortgage loan in which the monthly payments increase by a specific amount each year, with the “Overpayments” applied to the principal.
Installment debts: Long-term debts that usually extend for more than one month.
Investor: The holder of a mortgage or the permanent lender for whom the mortgage maker services the loan. Any person or institution that invests in mortgages.
Joint & Survivorship Deed: (Also known as “Warranty deed creating tenants in common with right of survivorship”) Upon death of one of the owners, title to the interest transfers “by contract” to survivors.
Lease purchase agreement: Buyer makes a deposit for the future purchase of a property with the right to lease the property in the interim.
Lien: A legal claim against a property that must be paid when the property is sold.
Loan-to-value ratio: The relationship between the amount of a home mortgage and the total value of the property. Lenders may limit their maximum mortgage to 80-95 percent of value.
Lock-in-rate: A commitment made by lenders on a mortgage loan to “lock in” a civilian rate pending mortgage approval. Lock-in periods vary.
Market value: The highest price a buyer will pay for a property and the lowest price the seller will accept.
Mortgage: One type of document used to make property the security for the payment of a loan.
Mortgage broker: An individual or company that obtains mortgages for others by finding lending institutions, insurance companies, or private sources to lend the money; may also make collections and handle disbursements.
Mortgagee: The lender of money or the receiver of the mortgage.
Mortgagor: The borrower of money of the giver of the mortgage document.
Note: A written promise to pay a certain amount of money.
Origination fee: A fee or charge for work involved in the evaluation, preparation and submission of a proposed mortgage loan.
Prepayment penalty: A fee paid to the mortgagee for paying the mortgage before it becomes due. Also known as prepayment fee or reinvestment fee.
Private mortgage insurance (PMI): Insurance issued to a lender by a private company to protect the lender against loss on a defaulted mortgage loan. Its use is usually limited to loans with high loan-to-value ratios. The borrower pays the premiums.
Promissory note: A written contract containing a promise to pay a definite amount of money at a definite future time.
Radon: A colorless, odorless gas formed by the breakdown of uranium in subsoil. It can enter a house through cracks in the foundation or in water and is considered to be a health hazard.
REALTOR and REALTOR-Associate: Registered collective membership marks that identify real estate professionals who are members of the National Association of REALTORS and who subscribe to its strict Code of Ethics.
Rent with option: A contract which gives one the right to lease property at a certain sum with the option to purchase at a future date.
Savings and loan association (S&Ls): Depository institutions that specialize in originating, servicing, and holding mortgage loans, primarily on owner-occupied residential property.
Savings bank: A financial institution organized to hold individual depositors’ funds in interestbearing accounts and to make long-term investments, such as home mortgage loans.
Second mortgage/Second deed of trust/Junior mortgage or Junior lien: An additional loan imposed on a property with a first mortgage. Generally a higher interest rate and shorter term than a “first” mortgage.
Severalty ownership: Ownership by one person only. Sole ownership.
Shared equity mortgage: A home loan in which an investor is granted a share of the equity, thereby allowing the investor to participate in the proceeds from resale.
Survey: The process by which a parcel of land is measured and its area ascertained.
Tenancy in common: Ownership by two or more persons who hold an undivided interest without right of survivorship. (In the event of the death of one owner, his/her share will pass to his/her heirs.)
Title: A document that’s evidence of ownership.
Title defect: An outstanding claim or encumbrance on property that affects marketability.
Title insurance: Protection for lenders and homeowners against financial loss resulting from legal defects in the title.
Veterans Administration (VA): A government agency that provides services for eligible veterans of the armed forces. Among other programs, it guarantees mortgage loans made by private lenders to veterans.
Variance: A special suspension of zoning laws to allow the use of property in a manner not in accord with existing laws.
Zoning restrictions: Local municipal ordinances that classify property according to specific uses such a single family, residential, commercial, industrial, multi-family, etc.
