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Buyer Services
Buying a home is the largest transaction that MOST people make
in a lifetime. It can be stressful, especially if you are unfamiliar
with the process. Before you begin your search, consider these
buying steps below to save YOUR time & money!
Step One: Deciding to Buy a House &
Making Plans
Getting pre-approved first benefits you because:
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You look like a more sincere buyer to the seller
when he is evaluating your offer, which gives you an edge in
negotiations.
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You do not waste your time looking at homes
not in your budget.
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You get peace of mind knowing that once we successfully
negotiate on the home you love, you are already well on your
way to making ownership a reality.
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You can pack without worrying about your loan
approval. Of course this requires using an experienced loan
agent. You are free to use any loan company you choose, however
we recommend Cindy Mersch at Washington Mutual Home Loans. You
may apply on-line by clicking her
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Step Two: Getting Your Own
Representation
Smart home buyers only work with a buyer representative, whom
they hire specifically to represent them. Purchasing a home is
a complex, major transaction and in the majority of cases the
seller will be represented. It makes sense to have your own representation.
Having a buyer representative benefits you because:
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Real estate buyer´s representatives are
responsible for protecting their clients´ best interests.
The buyer´s agent is held to a higher standard of skill
and care in dealing with you than is a subagent of the seller
or the seller´s listing agent, who would work with you
on a customer basis.
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Buyers´ agents have an affirmative duty
to their clients to investigate and disclose all facts that
bear on your decision to buy. You can also expect to receive
more counseling, expert opinion, advocacy, and advice regarding
the buying decision.
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The quantity and quality of client-level services
are at least the same as those a listing agent would give sellers.
Buyers are not legally entitled to this level of service unless
they retain their own real estate agent to represent them.
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As your buyer representatives we actively work
to find a home for you, check market data to avoid you paying
too much, represent you in negotiations and much more. We will
help to make your purchase an easy one.
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If you buy an MLS listed house, (since seller
has already offered a fee to the buyer´s agent on these
types of listings), there is no cost to you for representation.
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Step Three: Choosing a
Neighborhood
It is a great idea to narrow down your search by pinpointing
what neighborhoods are best for you
Things to consider when selecting a neighborhood:
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Schools. You can compare school districts and
even check out information on specific schools by going here.
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Property Values. As your representative, we
will gladly check the market data and give you a report on the
neighborhood you are interested in to help avoid paying too
much for your next home.
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Traffic. Drive through neighborhoods during
what could be a potential high traffic time. Example: Friday
& Saturday Nights.
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Crime Rate. To compare crime in two Texas cities
head-to-head click here. The Texas Department of Public Safety
maintains a database that you may search to find out if registered
sex offenders are located in certain zip code areas.
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Proximity to: Schools, Hospitals, Shopping,
Freeways, Airports, Parks, Stadiums, and Cultural Activities
like museums, concerts, & theaters.
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Step Four: Choosing a Home
After neighborhoods are chosen, it is time to narrow down the
homes. The perfect house for you may not be available for sale.
For this reason, its great idea to have a wants/needs list (rank
your wants and needs in order of importance). There may be many
homes that fit your most important needs. It is also a good idea
to take notes when viewing several houses at a time. We have a
home comparison worksheet to help you keep track of the homes
you have seen.
What Are My Needs & Wants?
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Establish a set of minimum necessities - "A
Needs List". Minimum necessities are things that a house
must have to fit your needs, whereas a "wants list"
has things that you would like to have but are not crucial.
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Your 'needs list' should include things like:
Number of Bedrooms,Bathrooms, & Living Areas? A Square Footage
Range? Lot Size? Age? Number of Floors? & Garage Size?
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Your 'wants list' should evaluate the importance
of things like: Eat-in Kitchen vs. Separate Dining Room; Bedroom
Size vs. Size of Living Areas; Walk-in Closets; Tub in Master
Bath; Fireplaces; Pool; Yard Size; ... And any other features
you want to consider in a home.
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After you have decided what is most important
to you, keep in mind some things can be altered (depending on
your taste and budget), as others cannot. You should discuss
this with your Buyer Representative.
Resell considerations to keep in mind:
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Homes with less than three bedrooms do not
suite the majority of families.
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Homes with great "curb appeal" are
the easiest to resell.
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The largest homes in the neighborhood generally
sale for less when compared to the more moderately sized homes
in the neighborhood.
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One-bathroom homes are more difficult to resell
than homes with two full bathrooms.
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Step Five: Making An Offer
& Closing on the Deal
After you have found the home for you, it is important to act
quickly before another buyer grabs it out from under you. It does
not matter if it is the first home you see or the 20th home, when
you know you know.
The Offer:
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Negotiating the offer is one of our most valuable
services we offer as your buyer representative. Since oral promises
are not legally binding in real estate, you must have a written
offer. (We provide all the necessary contract offer forms and
addenda.) The written offer not only specifies the price you
want to give, but also all the terms and conditions of the purchase
as well.
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Remember: Without a pre-qualification letter,
many sellers will not accept your offer.
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What is a home warranty? In Florida we have
Residential Service Contracts a.k.a. "Home Warranties",
which usually cover your home´s systems and appliances
against breakdowns from normal wear and tear. We will write
in the contract offer a one-year coverage policy for all our
buyer clients unless asked not to do so. Usually the seller
will agree to pay for this service, after a year it is up to
you to continue on with the coverage.
The Closing:
The last step in the real estate process is the closing, which
includes both title and financial considerations. The closing
day typically is 30 to 45 days from the date the Seller and Buyer
agree to terms and signed a real estate sales contract.
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How much are closing costs? As your buyer representative,
we will go over this with you upfront. The closings costs will
include taxes, insurance, notary fees, loan fees, escrow fees,
recording fees, & prorations. Your lender should also give
you a written, good-faith estimate of all your closing costs.
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How long after closing on the home can we move
in? This is negotiable. If the home is vacant, move-in is usually
right away! If the seller is still living in the home, the seller
may need a day or two to move out after closing.
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