Nightmares in Escrow During the Real Estate Transaction

Meet Jennifer Wolf. Jennifer is an escrow officer for Ticor Title, she is spending time with David Radcliffe of the Radcliff Group of Keller Williams to share her perspective on Escrow Nightmares that can be avoided. Jennifer shares this information so she can help get your real estate transaction closed early and/or on time.

Understand FIRPTA

Agents, regardless if you are representing a buyer or seller you need to know if the seller is subject to this tax law. Contract says if seller is subject to the tax, the buyer is ultimately responsible for it. So both parties need to be aware. There are some seller exemptions, knowledge is the key!

Unusual Circumstances

Incarceration

The incarceration of a Buyer or Seller’s spouse can cause a problem and can delay escrow. Approved mobile notaries must be sent on-site for signatures, because of fraud, so if  you know of  a situation involving a party to the transaction that maybe in jail, is important information to disclose to the agent and escrow officer.

Living/Traveling Abroad

Living out of the country, or traveling abroad is important information for your agent and escrow officer to know because power of attorney, early preparation of documents or special postage arrangements might be necessary. There are also tax considerations to be considered for non-US residents.

Of Sound Mind

Anyone party to the transaction needs to be of sound mind, incoherent, incompetent or mentally unstable parties are not legally able to sign for the purchase or sale of a home.

Wired Funds

Cash and loan buyers need to be aware of the process of wiring money from their bank especially if they bank with a small banking institution.  Some banks require the borrower to be present to wire funds, (and if the branch is out of state, it could create problems). Nevada is a good funds state, so closing funds must be made in the form of a wire transfer. 

Out of Town

Often sellers move out of town before the home transaction has closed, it’s important to know where ALL parties to a transaction will be at the time of signing/closing, so documents can be prepared, signed and returned timely. There are accommodation signings and mobile notaries available for special cases, but virtual signatures are not sufficient, as originals are required for final paperwork.

Avoid common escrow nightmares and be sure David is resenting you in your next real estate transaction. He will connect you with Jennifer and her team at Ticor Title to help get your next Centennial Hills, Summerlin, Las Vegas or North Las Vegas home closed.

The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection. Ranking consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas, Dave also ranked number 1 in 2014 as the top producing individual out of 172 Realtor- Agents in his office. 

Tune into The Radcliffe Group YouTube channel to learn more about what is happening in your Las Vegas and Summerlin Communities. We promise to keep you updated with the latest real estate market conditions, real estate statistics and happenings in the area.

Written by Nickel Lowman

For Dave Radcliffe, The Radcliffe Group

Keller Williams Realty Southwest

702-379-3401

www.DaveRadcliffeVegas.com

Best Practices to Preapre for A Home Appraisal with Kelly T. Wade and David Radcliffe

702-379-3401 www.DaveRadcliffeVegas.com

Preparing Your Home for the Appraisal

Dave Radcliffe of The Radcliffe Group at Keller Williams Realty Southwest discusses what the best practices for preparing your home for an appraisal are with Kelly T Wade, SRA of Wade Valuation Services. Kelly is a provider of real estate appraisal, appraisal review, and consultation. At Wade Valuation Services, Quality, Integrity, and Respect are more than rhetorical statements; with 30+ years of professional appraisal industry experience and proven results, Kelly is someone that Dave trusts and recommends. 

Our goal at The Radcliffe Group is to help you present and sell your property for the best and highest price, eliminating all real estate nightmares. There are a few key things you can do to Prepare Your Home for the Appraisal. 

Understanding a few key real estate terms is helpful:

What is an Appraisal?

An appraisal is a written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.

Is a Home Inspection the same thing as an Appraisal?

No- A home inspection is a thorough inspection by a Home Inspection professional that evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a contingency by the purchaser.

Who is an Appraiser?

An appraiser is an individual qualified by education, training, and experience to estimate the value of real property (and personal property). Although some appraisers work directly for mortgage lenders, most are independent. Most realtors are not Appraisers.

What is the Appraised Value?

The appraised value is an opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property. Since an appraisal is based primarily on comparable sales, and the most recent sale is the one on the property in question, the appraisal usually comes out at the purchase price.

What is the best way to prepare for an Appraisal?

Step one and most important, make sure the home is listed with a qualified agent. Your agent will suggest any necessary major repairs that should be completed before appraisal. Often these repairs are suggested before listing the home or before the home inspection, that way, come time for a buyer to view your property they see the best possible home you can offer. Be sure all repairs are complete before the appraisal, as the appraisal will be the final word on the homes valuation.

An appraiser is looking at the house, not furniture or personal property, it’s a visual inspection to make sure the home is inhabitable and priced correctly for lending and resale purposes. Different loan types have different requirements for appraisals, the rule of thumb is make sure there are not broken windows, broken exterior door locks, safety issues or missing straps on the water heater. The appraiser is doing a visual inspection looking for safe and sellable; structurally sound plumbing, doors, windows, and garbage disposal. He will compare these features and other upgrades to comparable properties in the neighborhood to determine your home’s value. When it comes to condition, cleaned up, looks nice and helps him feel comfortable when determining the market range vs. a home where this feel in disarray which can affect the price. Sold properties nearby will help the appraiser compare data to determine the value.

Avoid Re-inspection fees, and follow your Realtor’s instructions prior to the appraisal to yield the highest value when selling your home.

If you have more questions on how to prepare for the appraisal process, give us a call we are happy to help! The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection. Ranking consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas, Dave also ranked number 1 in 2014 as the top producing individual out of 172 Realtor- Agents in his office. Specializing in helping Las Vegas and North Las Vegas homeowners sell their home for the highest market value, Dave and his team will help you yield your highest profit. Call 702-379-3401 when it is time to sell your Las Vegas, Summerlin, Centennial Hills or North Las Vegas Home. 

Thank you for tuning in, subscribe to our YouTube Channel and check out our Las Vegas Real Estate Blog at: www.DaveRadcliffeVegas.com

Written by Nickel Lowman

For Dave Radcliffe

With definitions from RealEstateABC

The Radcliffe Group

Keller Williams Realty Southwest

702-379-3401

www.DaveRadcliffeVegas.com

Local Firefighters work with UMC Burn Unit for local kids - Las Vegas, NV

702-379-3401

www.DaveRadcliffeVegas.com

In Nevada, for every fire-related death, there are approximately 13 fire-related injuries. 

David Radcliffe of the Radcliffe Group of Keller Williams Realty Southwest Las Vegas is passionate about giving back and has partnered with his friends Nino Galloway, Firefighter and VP of The Firefighter’s of Southern Nevada Burn Foundation, Warren Whitney, President, and Mary Martinat, The UMC Burn & Trauma Outreach Coordinator, to help raise safety awareness, and showcase the dedication and efforts that go into improving the lives of burn victims and treating them. We'll go behind-the scenes at UMC and invite you to join us.

According to a UNLV, School of Community Health Sciences Nevada State Health Division Bureau of Child Family and Community Wellness report, Fires are the 2nd leading cause of unintentional injury death among children in our state. About 800 children ages 14 and under suffer an unintentional fire death annually in Nevada. Over half of these children are under the age of five years. The CDC also reports that losses to society from childhood burn deaths and injuries total exceed $5.5 billion each year. Two-thirds of fire-related deaths and injuries among children under age 5 occur in homes without working smoke alarms. Nationally, African American, Hispanic, and American Indian and Alaskan Native children are at higher risk than White children for home fire deaths. Education is the key to safety and fire prevention.

Firefighters of Southern Nevada Burn Foundation focus on education since most victims of child-set fires are almost always children; 85 of the 100 lives lost to child-set fires in the U.S. are children and often, are the fire-setters themselves or younger brothers or sisters who are affected. Firefighters of Southern Nevada Burn Foundation “provides assistance to burn victims and their families; at risk children that are identified by local fire agencies; they assist in catastrophic events as a resource to fire agencies and the community and further education and awareness of fire and life safety.”

The Children's Hospital of Nevada at UMC is the “first and only hospital in Nevada to offer Pediatric Burn Care and Organ Transplant Services. With the help of the local Lions Club, The Lions Burn Care Center opened in 1968, the only Burn Care Center certified by the State of Nevada. Today they provide inpatient and outpatient care to residents of Utah, Arizona, California and Nevada.

The Burn Care Unit is staffed by highly-trained personnel, experts in putting kids at ease. They make sure children feel comfortable and safe. They prepare the children and their families for procedures, tests and surgery, help them deal with stress and provide support. Children are entertained with age-appropriate, creative and educational activities and games brought to their bedside or in a well-equipped, cheery playroom.” A fire victim’s recovery continues long after being discharged; hospitalization is only the beginning of life changing experiences that come with a burn injury. To meet the needs of patients the burn center offers burn survivors the opportunity to meet and assist one another through a burn support group. Burn Survivor support is crucial in the days, weeks, months and years following a burn injury. The support group is a place for burn survivors to give and receive both emotional and practical support as well as to exchange information. The support group gives burn survivors insight, strength and connections to others who are dealing with similar challenges.

Get Involved and Volunteer: The UMC Lions Burn Care Center staff work with various health and safety fairs, and numerous agencies to promote burn prevention. Some of the organizations are the Risk Watch program, Clark County School District (who educate students on burn prevention, fire safety, escape plans, etc.) and The Safe Kids organization.  The UMC Lions Burn Care Center also works in conjunction with local fire and police departments developing safety prevention programs including the Firefighters of Southern Nevada Burn Foundation. There are many ways you can help Firefighters of Southern Nevada Burn Foundation fulfill its missions and assist victims of fire and other catastrophic events, assist communities and organizations, and further the education and awareness of fire and life safety. Contact David Radcliffe at 702-379-3401 to get connected to The Firefighter’s of Southern Nevada Burn Foundation or visit to get www.CHNV.com to see how you can help.

Help your family and children avoid being victims of a catastrophic burn and follow these safety tips:

Be alarmed! Install and maintain smoke alarms in your home, on every floor and near sleeping rooms.Test your smoke alarms once a month to make sure they actually work. Cook with care. Never leave the stove unattended and always supervise children in the kitchen. Check your water heater's temperature. Set the thermostat to 120 degrees or lower. Infants who aren't walking yet can't get out of water that may be too hot. Call 9-1-1 when there is a fire emergency and get yourself and loved ones to safety as quickly as possible.

Written by Nickel Lowman

With content from

http://www.theburnfoundation.org

http://www.chnv.org/OurCare

https://www.umcsn.com/Medical-Services-at-UMCSN/BurnCareSupport.aspx

http://health.nv.gov/pdfs/injuryinnevada.pdf

For Dave Radcliffe, The Radcliffe Group

Keller Williams Realty Southwest

702-379-3401

http://www.DaveRadcliffeVegas.com

Centennial Hills Las Vegas Real Estate Update & Market Statistics January 2015

Centennial Hills Real Estate Market Update

The Centennial Hills area of Las Vegas covers the zip codes: 89166,89149,89131,89130. There is great news to share about the community: Currently the area is booming with tons of construction underway with great views. The development of the Skye Canyon community is moving along well. It’s a 19,000 acre development with 9,000 homes to be built. Investors anticipate there will be more construction north up to the Horse area off US 95, creating great investment opportunities. The other piece of great news is the flood control project is almost done- finally. This is great news for residence and anyone commuting in the area on a wet day.

Centennial Hills Market Statistics January 2015

Active/Available Homes in Centennial Hills:

Single Family Residence: 304; Condominium/ Townhouse: 27

Under contract:

Single Family Residence: 163; Condominium/ Townhouse: 17

Centennial Hills Homes Sold Last 30 Days/ Last Year:

Single Family Residence: 74 /1080; Condominium/ Townhouse: 4/93

Best Value In Las Vegas Real Estate

Centennial Hills area (zip codes 89166, 89149, 89131, 89130) has some of the best values in the Greater Las Vegas Valley and homes are selling at a rate of about 90 homes per month; which is a brisk sales rate. It’s a great time to consider selling your Centennial Hills home or moving into the area.

Interest Rates:

There are great rates for purchasing and refinancing. Interest Rates are at the lowest in 20 months. Refinance rates are available at a rate of 3.25% available for government backed loans and 3.75% rates available for conventional (Fannie Mae) backed loans.  For homeowners with a VA loan, there is an IRRL (individual rate reduction) rate/loan available. FHA streamline refinances are available reducing the FHA mortgage insurance premium, saving homeowners hundreds per month. Dave and his team have developed trusted relationships with local mortgage lenders that can help you get the most bang for your buck!

At Your Service

The Radcliffe Group is your Las Vegas, Summerlin, Centennial Hills, and North Las Vegas real estate connection. Ranking consistently as one of the top real estate teams at Keller Williams Realty Southwest Las Vegas, Dave also ranked number 1 in 2014 as the top producing individual out of 172 Realtor- Agents in his office. 

As a retired police officer, Dave is passionate about giving back to the service community and dedicates much of his time giving and supporting the Las Vegas Metro Police Department, Firefighters and Military at Nellis Air Force Base. The Radcliffe Group can assist you in your Centennial Hills, Las Vegas PCS or relocation, New Home Construction purchase, Condo and Luxury Home purchase. Specializing in helping Las Vegas and North Las Vegas homeowners sell their home for the highest market value, Dave and his team will help you yield your highest profit. Call 702-379-3401 when it is time to sell your Las Vegas, Summerlin, Centennial Hills or North Las Vegas Home. 

Thank you for tuning in, subscribe to our YouTube Channel and check out our Las Vegas Real Estate Blog at: www.DaveRadcliffeVegas.com

Written by Nickel Lowman

For Dave Radcliffe

The Radcliffe Group

Keller Williams Realty Southwest

702-379-3401

www.DaveRadcliffeVegas.com