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Buying a home is usually one of the biggest financial investments most
people enter into in their lifetime. Transactions today usually exceed
$100,000. If you had a $100,000 income tax problem, would you attempt to
deal with it without the help of a CPA? If you had a $100,000 legal
question, would you deal with it without the help of an attorney? With the
professional guidance of a Realtor® you can avoid many unnecessary
complications when purchasing your new home.
The term REALTOR® is a registered, collective membership mark that
identifies real estate professionals who are members of the National
Association of Realtors®, and therefore subscribe to its strict Code of
Ethics.
As your Realtor, Dawn will help you carry out the transaction with your best
interest in mind. Working with a Realtor like Dawn can be very beneficial
to a home buyer as illustrated by the following points of importance:
o
Help
you determine your buying power
-- that is, your
financial reserves plus your borrowing capacity. If you give a REALTOR® some
basic information about your available savings, income and current debt, she
can refer you to lenders best qualified to help you, and can help you in
understanding different financing options.
o
Provide
many resources to assist you in your home search.
Sometimes the property you are seeking is available but not
actively advertised in the market, and it will take some investigation by
your agent to find all available properties.
o
Assist
you in the selection process by providing objective information about each
property.
Agents who are REALTORS® have access to a variety of
informational resources. REALTORS® can provide local community information
on utilities, zoning. schools, etc. There are two things you'll want to
know. First, will the property provide the environment I want for a home or
investment? Second, will the property have resale value when I am ready to
sell?
o
Effectively negotiate your contract.
There are myriad
negotiating factors, including but not limited to price, financing, terms,
date of possession and often the inclusion or exclusion of repairs and
furnishings or equipment. The purchase agreement should 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.
o
Provide
due diligence during the evaluation of 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. Your REALTOR® can
assist you in finding qualified responsible professionals to do most of
these investigations and provide you with written reports. You will also
want to see a preliminary report on the title of the property. Title
indicates ownership of property and can be mired in confusing status of past
owners or rights of access. The title to most properties will have some
limitations; for example, easements (access rights) for utilities. Your
REALTOR®, title company or attorney can help you resolve issues that might
cause problems at a later date.
o
Guide
you through the escrow and closing process to make sure everything flows
together smoothly.
o
As a buyer, your Realtor services are part of
the purchase price. In California, Realtors’ fees are
typically included in the listed price of the property. Usually when
entering into a listing agreement with a Realtor, sellers agree to pay
commission fees for the brokers representing both the seller and the buyer.
Closing costs for buyers are minimal. Your Realtor can provide a Buyers
Cost Estimate once you have identified your price range and financing.
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