REAL ESTATE TIPS

FOR BUYERS

Choose Your Real Estate Professional

Benefits of using a Real Estate Professional include:

1) Real Estate Professionals can help you negotiate things like price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required, as well as be there to help while you are busy at work or play.

2) As soon as you are reasonably sure the property is right for you, the process of obtaining financing begins. Your agent can help you in understanding different financing options and in identifying qualified lenders.

3) The Real Estate Professional can also help you in the closing, by helping to guide you through the process and making sure everything flows together smoothly.

Loan Qualification

1) Have a contract for the home you want to purchase.

2) Bring your original statements for the past two months from each bank, credit union, or other financial institution where you have an account.

3) Prepare a list of all loan account numbers and addresses (car loans, personal loans, student loans, other loans, etc.). Include loans you may have co-signed.

4) Have your employment history ready. Names and addresses of employers. W-2 forms for the past two years. Tax returns for the past two years. Most recent pay stubs.

5) Have your Residence history prepared (name and address of current landlord, or mortgage company, list of where you have lived for the past two years).

6) Miscellaneous information may include divorce decree, court orders, bankruptcy discharge papers, etc.

View Property

1) Finding your property. Real Estate Professionals have access to information on properties that may be for sale that are not advertised. They use a Multiple Listing Service or MLS provided to them by the professional associations they are members of. This system lists thousands of properties that are for sale in your area. Your dream home could be just around the corner, and you wouldn't know it.

2) Real Estate Professionals can assist you with local community information on utilities, zoning, schools, etc.

3) Real Estate Professionals can provide you with information to help you decide if you will be able to resell the home when you want.

4) Real Estate Professionals can help you to evaluate the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few.

5) Your Real Estate Professional can help you negotiate the price you will pay for your home by providing you with Comparative Market Analysis to let you evaluate if you are paying a fair price for the home you want to buy.

6) Your agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports.

Making the Offer

1) Helping you with the offer to purchase

2) Assisting with Lead Based Paint inspections and laws

3) Assisting with Radon requirements and testing and laws

4) Formulating the Offer to Purchase

5) Scheduling Inspections (Home, Termite, HVAC, Lead Based Paint, Radon, etc.)

6) Negotiate repairs if needed

7) Mortgage Application

8) VA Eligibility issues

9) Loan Approval

10) Final Inspection before closing

A FOR SELLERS

A Real Estate Professional will:

1) Helping you with the offer to purchase

2) Assisting with Lead Based Paint inspections and laws

3) Formulating the Offer to Purchase

4) Scheduling Inspections (Home, Termite, HVAC, Lead Based Paint, Radon, etc.)

5) Negotiate repairs if needed

6) Mortgage Application

7) VA Eligibility issues

8) Loan Approval

9) Final Inspection before closing

Prepare Your Home For The Sale

1) Clean your home and make it ready for lots of people to see it at its best.

2) Clean your carpets. People notice carpet so make sure it is clean and in good shape.

3) Paint any areas that need it, or look like they are about to need it.

4) Repair anything that needs repairing. A house with one broken thing will give a bad impression.

5) Landscape. Improve the appearance of the outside of your home, people see it first.

6) Deodorize. If you have pets, take care of any pet issues before people come to see the home.

7) Remove clutter. If you have lots of counter space, and you fill it up with stuff, it looks smaller.

8) Contact your Real Estate Professional. They will have many more suggestions on how to market your house.

Pricing Your Home

1) Many things determine the value of your home. You cannot assign a price to your home without a lot of information.

2) As an individual selling your home, you can pay to have it appraised to determine its "value".

Listing Your Home

1) Marketing your home. Utilization of all available media to properly market your home.

2) Putting your property on the MLS. This puts your property in the hands of thousands of agents who have multiple customers. You don't have to depend on someone seeing your ad, or sign, there are people looking to buy and sell. The Real Estate Professional brings them together.

3) Scheduling Showings. Using a Real Estate Professional will eliminate your commitment to taking phone calls all hours of the day and night from people
who want to see your home. The Real Estate Professional coordinates with you to bring you buyers. You also have the peace of mind knowing you do not have to allow strangers into your home. Real Estate Professionals will generally pre-screen and accompany qualified prospects through your property.

The Offer

Your Real Estate Professional may handle these steps for you:

1) Are you able to negotiate with your buyer?

2) Have you contracted an attorney to draw up all the legal contracts?

3) Is your buyer qualified to buy your home?

4) Have you completed all the necessary inspections (Termite, Radon, Lead Based Paint, HVAC)?

5) Have you answered all contract contingencies?

6) Have you gotten an attorney to do a title search?

7) Is it all in writing?

8) Are all forms signed?

9) Are all repairs negotiated and complete?

10) Have you done all follow-ups to inspections and loans?

11) Have you contacted an attorney to prepare and assemble all closing documentation?

12) Have you scheduled all closing and possession meetings?

13) Have you scheduled all utilities, and mail transfers?