This step takes 1-2 hours and is provided by our company with no obligation. It provides an opportunity for buyer and agent to ask questions and determine if working together will be in the best interest of both parties. It is best if it can be done in person, but we can make arrangements where distance prohibits such a meeting.
We make no bones about being a "different" kind of real estate company. We do not intend to SELL you a piece of real estate. We DO want to assist you in purchasing real estate that best meets your needs. We do want to always represent your interest. We cannot promise that to you until we know your goals and we can evaluate the plausibility of reaching them. We are patient and not pushy, but we don't want to waste your time or ours. Therefore, we offer our upfront one-hour counseling session so you can get answers to your questions and we can get answers to our questions. We both decide if we can work together!
CLICK HERE to set up a 'NO-Strings Counseling Session!
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Check out our TOP 5 FAQ's
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E-MAIL: info at buyeragents4u dot com
Go to: Our Agents and meet each of our agents and contact them directly to set up a counseling session.
The favorite choice of consumers, we will take buyers through the entire buying process, from inception of the concept through the search for a property, financing, research, negotiations, inspections, pre-closing and closing. We typically get paid at the completion of the process... at closing and we typically get paid by the sales agent from his commission for selling the house (a very common practice). Because there is a great deal of time invested by the agent, for many consumers this is the "best buy"!
In circumstances where only specialized consultation services are needed they can be structured either:
Based on your agent's hourly fee, you would pay for services when the services are rendered.
Considering what part of the process you need, a fee for completing the task is established.
For example, you may be a tenant and have been offered an opportunity to purchase your apartment or building. You may need help in establishing value and preparing an offer only.
Another example might be an investor trying to locate a specific type of property and is only interested in obtaining "search" services.
As the name implies, we can tailor our services to your needs by establishing expectations and guidelines up front to assure success.
As members of NAEBA [National Association of Exclusive Buyer Agents], we work under their Standards of Practice.
This step can take 1-365 or more days! Much depends on your HOME work beforehand, your timeline, and your ability to devote needed time to the process.
Once you have established your wants and needs, your price range, the area and the time frame for your purchase…you are ready to start the search. So where do we look for homes?
This step can take 1-30 days although generally the faster this step proceeds, the better the outcome. Delays can understandably occur when there is great distance [whether physical or agreement-wise] between the parties!
Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal. This proposal not only specifies price, but all the terms and conditions of the purchase. For example, if the sellers said they’d help with $2,000 toward your closing costs, be sure that’s included in your written offer and in the final completed contract, or you won’t have grounds for collecting it later. REALTORS® usually have a variety of standard forms (including Residential Purchase Agreements) that are kept up to date with the changing laws. When you use a REALTOR® these forms will be available to you. In addition, REALTORS® cover the questions that need to be answered during the process. In many states certain disclosure laws must be complied with by the seller, and the REALTOR® will ensure that this takes place. If you are not working with a REALTOR®, keep in mind that you must draw up a purchase offer or contract that conforms to state and local laws and that incorporates all of the key items. State laws vary, and certain provisions may be required in your area. After the offer is drawn up and signed, it will usually be presented to the seller by your REALTOR®, by the seller’s REALTOR® if that’s a different agent, or often by the two together. In a few areas, sales contracts are typically drawn up by the parties’ lawyers.
The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). It’s important, therefore, that it contains all the items that will serve as a “blueprint for the final sale.” These purchase offer items include such things as: Address and sometimes a legal description of the property Sale price Terms – for example, all cash or subject to your obtaining a mortgage for a given amount Seller’s promise to provide clear title (ownership) Target date for closing (the actual sale) Amount of earnest money deposit accompanying the offer, and whether it’s a check, cash or promissory note, and how it’s to be returned to you if the offer is rejected – or kept as damages if you later back out for no good reason Method by which real estate taxes, rents, fuel, water bills and utilities are to be adjusted (prorated) between buyer and seller Provisions about who will pay for title insurance, survey, termite inspections and the like Type of deed to be given Other requirements specific to your state, which might include a chance for attorney review of the contract, disclosure of specific environmental hazards or other state-specific clauses A provision that the buyer may make a last-minute walk-through inspection of the property just before the closing A time limit (preferably short) after which the offer will expire Contingencies, which are an extremely important matter and discussed in detail below.
If your offer says “this offer is contingent upon (or subject to) a certain event,” you’re saying that you will only go through with the purchase if that event occurs. The following are two common contingencies contained in a purchase order: The buyer obtaining specific financing from a lending institution. If the loan can’t be found, the buyer won’t be bound by the contract. A satisfactory report by a home inspector “within 10 days (for example) after acceptance of the offer.” The seller must wait 10 days to see if the inspector submits a report that satisfies you. If not, the contract would become void. Again, make sure that all the details are nailed down in the written contract.
In those circumstances, you may be able to negotiate some discount from the listed price. On the other hand, in a “hot” seller’s market, if the perfect house comes on the market, you may want to offer the listed price (or more) to beat out other early offers.
It’s very helpful to find out why the house is being sold and whether the seller is under pressure. Keep these considerations in mind: Every month a vacant house remains unsold represents considerable extra expenses for the seller; If the sellers are divorcing, they may just want out quickly; and Estate sales often yield a bargain in return for a prompt deal.
This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show “good faith.” A REALTOR® or an attorney usually holds the deposit, the amount of which varies from community to community. This will become part of your down payment.
You will have a binding contract if the seller, upon receiving your written offer, signs an acceptance just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that’s that, and the sellers could not later change their minds and hold you to it. If the seller likes everything except the sale price, or the proposed closing date, or the basement pool table you want left with the property, you may receive a written counteroffer, with the changes the seller prefers. You are then free to accept or reject it or to even make your own counteroffer. For example, “We accept the counteroffer with the higher price, except that we still insist on having the pool table.” Each time either party makes any change in the terms, the other side is free to accept or reject it, or counter again. The document becomes a binding contract only when one party finally signs an unconditional acceptance of the other side’s proposal.
Can you take back an offer? In most cases the answer is yes, right up until the moment it is accepted, or even in some cases, if you haven’t yet been notified of acceptance. If you do want to revoke your offer, be sure to do so only after consulting a lawyer who is experienced in real estate matters. You don’t want to lose your earnest money deposit, or find yourself being sued for damages the seller may have suffered by relying on your actions.
This step can take 7-90 days and is probably the most underrated and most important parts of the process. Many a home has been lost because someone dropped the ball during this step. When these periods are longer, the buyer begins to forget they are moving and may actually leave things to the last minute
Q. WHAT IS A HOME INSPECTION?
A. A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. Having a home inspection is like giving it a complete physical. If problems or symptoms are found, the home inspector may recommend further evaluation.
Q. WHAT DOES A HOME INSPECTION INCLUDE?
A. The standard home inspector's report will review the condition of the home's heating and cooling systems, interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, doors and windows; the foundation, basement, visible structure, grading and drainage, and attached structures such as decks, sheds and garages.
Q. WHY DO YOU NEED A HOME INSPECTION?
A. Financially and emotionally, your new home is one of the biggest investments you'll ever make. You will enjoy many years of happiness--if you have chosen wisely. At first glance, it may be in great shape. But there may be certain problems, some of which you can live with, but others that could be a financial burden. In making a decision of this magnitude, make it with confidence. Additionally, the home inspection will note positive aspects of the home, as well as maintenance required to keep your home in good shape. The inspection also helps you to get a much better understanding of the property than you could ever get on your own.
Q. DO I NEED TO BE THERE FOR THE INSPECTION?
A. You should attend the inspection to get its full benefits. The inspection gives you the chance to ask questions directly and to see your home through the inspector’s eye as he goes through the home. This will give you a better understanding of the inspection report as well as the property itself.
Q. HOW LONG WILL THE INSPECTION TAKE?
A. The time required generally depends on the size of the home. For example, an average 2,000 square foot home will take between 2-3 hours to inspect. Another factor that may affect inspection time is the condition of the home. If the home has a lot of problems, additional time may be required for the inspector to describe those problems and discuss what options the buyer may have to repair those problems.
Q. MY HOUSE IS BEING BUILT NEW. WHY SHOULD IT BE INSPECTED?
A. An inspection of a new property is important to help you spot any shortcuts the contractor or builder may have taken. A trained certified home inspector will be able to spot certain telltale signs that might otherwise go unnoticed to an untrained eye. Especially valuable is an inspection before the drywall is put up. This allows you the chance to identify and fix problems when they are much easier to spot and repair.
Q. HOW MUCH WILL A HOME INSPECTION COST?
A. The cost of a home inspection varies based upon a number of factors, including size, age, special services requested, etc. Typically, the cost starts at $250-$350 for a 2000 square foot home. Fees are slightly higher for larger homes. However, cost should not be a factor in deciding whether or not you get your home inspected or in determining which certified home inspector you choose. Rather, you should consider the home inspection as an investment that will pay for itself many times over.
Q. CAN'T I DO THE INSPECTION MYSELF?
A. Even the savviest do-it-yourselfer will not have the level of training, knowledge, equipment or expertise as a certified professional home inspector. They are familiar with the complex elements of home construction; understand how the home's systems are intended to function, as well as how and why they may fail. Most importantly, they are a disinterested third party that can be totally objective about the condition of the home.
Q. WHAT IF THE REPORT REVEALS SOME PROBLEMS?
A. No house is perfect. If there are problems, and typically there are some, it doesn't mean that you shouldn't buy the house. However, if there are major problems, you may want to go back to the seller to either get the problems corrected or to re-negotiate to reflect needed repairs especially if they are safety issues.
Q. CAN A HOUSE FAIL ITS INSPECTION?
A. No. A home inspection is not the same as a code inspection. While the inspector will be familiar with many of the local and national building codes, his objective is to describe the physical condition of the house and indicate what may need repair or replacement.
A lot happens after the agreement to purchase is signed before there is a closing…
1. Home Inspection & Response to Seller
2. Supply any documents lender may need
3. Review and complete any other contingencies
4. Prepare items for move and moving company [see Moving Resources]
5. Transfer/sign-up/shut off utilities
1. Collect necessary documents from buyer
2. Order appraisal
3. Prepare and send loan package to under writer
4. Send package to the title attorney for closing
1. Prepare abstract of title [title search]
2. Gather proration information, lender’s package
3. Prepare the HUD [Closing Statement] and documents for closing
4. Schedule closing and notify the parties
5. Conduct closing, record documents and accounting
Coordinates and communicates with all the parties above to provide for a smooth transaction!
This step takes 1-2 hours which seems a bit quick after all the preparation! But most closings are very informative and many times are the first time buyers and sellers have met! It can be a wonderful opportunity for sharing special information about the property and the neighborhood and many times the parties eagerly exchange contact information. The agent attends the closing but the closing is under the direction of the attorney or title company who coordinates all the paper work and the monies. It is at this time that the agent will receive a commission check for the company for which they work. They will in turn receive a portion of that check for being your agent.
in Compliance with FACT Act
The C.L.U.E. Personal Property report provides a seven year history of losses associated with an individual and his/her personal property. The following data will be identified for each loss: date of loss, loss type, and amount paid along with general information such as policy number, claim number and insurance company name.
A. It is the owner’s right to possess, control, enjoy and use the property. We look for a "clean title" which should mean your property is free and clear of all liens and other owners' claims. Think of the title to your car - once it's paid off, it's yours free and clear.
A. A title search is detailed search and review of the public records for recorded documents which affect the title to a particular piece of land (deeds, court records, property and name indexes, and many other public documents). The purpose of the search is to verify the seller’s right to transfer ownership and to discover any claims, defects and other rights or burdens on the property.
A. A title search can show a number of title defects and liens, as well as other encumbrances and restrictions (unpaid taxes, unsatisfied mortgages, court proceedings against the seller, and restrictions limiting the use of the land, etc.).
A. Title insurance protects against any loss if any of these problems, even a hidden hazard, result in a claim against your ownership.
A. 1. Lender’s title insurance protects your lender’s interests in your property – the mortgage amount. You are required as a condition of the mortgage loan to purchase a policy of lender’s title insurance and the cost will by included in the closing figures. Lender’s title insurance provides no protection for the owner’s interest.
A. 2. Owner’s title insurance protects your equity in your home. The cost of the policy is paid one time only and protects you as long as the property remains in your name or that of your heirs. Your owner’s policy will not only pay for legal expenses to defend title, but it provides for reimbursement in the event of a loss. While the purchase of owner’s title insurance is optional, it is strongly recommended.
A. Because the owner could, in a very short time, do many things to encumber the title. For example, he could grant easements or construct improvements that encroach on the adjacent property. He could get married or divorced, or have a lien filed against his property. It is necessary to conduct an up-to-date title search to uncover any such problems.
A. Owner’s title insurance may be purchased for a one time premium based on the purchase price of the real estate. In proportion to the coverage provided and the duration of the coverage, owner’s title insurance is a superb value. If purchased at the time of closing, you will receive the insurance at a significantly reduced rate. For a premium quote, please call Market Street Settlement Group, Inc.
The home is probably the most valuable asset you will ever own, so it must be protected with adequate insurance.
Homeowners insurance policies should help pay for replacing or repairing damaged, destroyed or stolen property and belongings. It should protect against liability resulting from an injury or property damage around the home. As some homeowners unfortunately learn, earthquake, hurricane and flood damage aren’t necessarily covered by their policy, and may need to be purchased separately.
“Actual cash value” coverage pays the value of property or belongings at the time they were lost, taking into account their age, depreciation, etc. “Replacement cost” coverage provides enough money to replace lost or damaged property or belongings with new ones. Usually there are replacement limits to certain expensive items, such as furs, jewelry, etc. When selecting a policy, homeowners ought to calculate the cost of rebuilding their house after a major calamity. That amount is probably more than what they consider their home’s current market value.
It is wise to keep a record of a house’s contents, noting their value, date of purchase and description. Valuables can also be photographed or video taped. This will help determine their replacement amount later on. Finally, a policy needs to be checked every year. Have any additions or improvements been made to the house? Has the home increased in value? If so, more insurance may be required.
You call your insurer to ask about your home’s coverage, and a few months later the policy is cancelled. Your automobile insurance premium is raised because your credit report shows you were late paying your credit card bill.
Think again. Innocent inquiries to your insurance agent or information that seems to have no bearing on your driving ability can make premiums skyrocket. Worse, your insurance might even be cancelled. Inquiries, even those that do not result in a claim, can appear in a little-known database called CLUE, or its smaller competitor A-PLUS. And your insurance “score” which is largely based on your credit rating, can determine how much you pay for homeowner’s or automobile insurance.
If you’ve seen your CLUE report (Comprehensive Loss Underwriting Exchange) and you know your insurance score, chances are you’ve already been turned down for automobile or homeowner’s insurance. But probably, you, like most others, are clueless about CLUE. The CLUE report and the insurance scoring system are tools insurers use to decide your risk profile, or how likely you are to file a claim against your policy. Insurers feed information about paid claims – even your inquiries about coverage that don’t result in a claim – into a national database for use by insurers. Information included in the database, along with your insurance score, makes up your risk profile. Insurers use the profile to decide whether you get new insurance – even to decide if you get to keep the insurance you already have. If information is inaccurate, you can be left without insurance while you work out the errors.
The major issuer of CLUE reports in ChoicePoint, a Georgia company that is one of the country’s biggest compilers and sellers of personal consumer data. A property loss database is also maintained by Insurance Services Office (ISO) which calls its database the Automated Property Loss Underwriting System, or A-PLUS. However, because ChoicePoint dominates the insurance risk market, reports of property loss have come to be known generically as CLUE reports.
No. CLUE reports can relate to property loss claims made against automobile insurance policies as well as homeowner policies. CLUE reports for homeowner’s insurance have received more attention as homebuyers discover that the home they are about to purchase comes with its own CLUE report. If that report includes reports of water or mold mitigation, or even inquiries, the buyer may have to pay a higher premium or find it difficult to get insurance, even though the buyer has no claims in his history. How long does the information stay on the CLUE report? Five years from the date the loss is reported. This may include losses for a property before you owned it.
The CLUE database may also include notations of property “damage” – even if the insurance company didn’t pay a cent. Any hint of water damage to a property, for example, is likely to trigger a negative mark on the property’s CLUE report. Well-intentioned consumers who call an insurer to merely inquire about coverage for water damage have been shocked to have their insurance cancelled.
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