Advantage of a buyer’s broker
A buyer’s agent works for and represents the home buyer. Therefore, there is never a conflict of interest, never "Dual Agency", not even "Designated Agency", and never a question of whose interest is being represented. There are no limits to the type of property that can be shown. The highest form of representation and consumer protection available and the top choice for Home Buyers. Any agent can be a "Buyers Agent", merely by making that election and having the client sign a Buyer Brokerage Agreement.
The advantages of having your own personal buyer's broker are:
1) A buyer’s agent has one agenda, to help Home Buyers locate the best home for their needs and negotiate the best possible deal. Buyers are assured of the greatest range of choices - the entire market.
2) With a buyer’s agent, confidential information will stay that way. Unlike traditional agents who may have to declare "Dual Agency", a buyer’s agent will never be forced to relinquish full client confidentiality and full client level representation of a home buyer's best interests.
3) A buyer’s agent will provide home buyers the true facts as to value, market/neighborhood conditions, and obvious physical defects. Listing agents, dual agents, sub-agents, and transaction agents by law can't tell you, the Buyer, about many things that would be detrimental to the Seller.
4) You’ll get the true facts on neighborhood and appreciation.
5) You’ll get the best information on mortgage loan programs, rates and lenders offering the best rates.
TO TAKE ADVANTAGE OF THIS KIND OF REPRESENTATION, YOU SHOULD ENTER INTO A WRITTEN CONTRACT WITH YOUR BUYER BROKER. THE WRITTEN CONTRACT WILL GUARANTEE YOUR REPRESENTATION AND SPELL OUT THE TERMS OF YOUR REPRESENTATION.
P.S. Would you like some specific information on the present home market in
Thank you,
Tham Nguyen
Advantage of a buyer’s broker
5 Secrets to Buying the Best House for Your Money
1. Get "Pre-Approved" - Not "Pre-Qualified!"
Do you want to get the best property you can for the least amount of money? Then
make sure you are in the strongest negotiating position possible. Price is only
one element in the negotiations, and not necessarily the most important one.
Often other terms, such as the strength of the buyer or the length of escrow,
are critical to a seller.
In years past, I always recommended that buyers get "pre-qualified" by a lender.
This means that you spend a few minutes on the phone with a lender who asks you
a few questions. Based on the answers, the lender pronounces you "pre-qualified"
and issues a certificate that you can show to a seller. Sellers are aware that
such certificates are WORTHLESS, and here's why! None of the information has
been verified!
Many times unknown problems can come to the surface! Some of the problems I've
seen include recorded judgments, alimony payments due, glitches on the credit
report due to any number of reasons both accurately and inaccurately, down
payments that have not been in the clients' bank account long enough, etc.
So the way to make the strongest offer today is to get "pre-approved". This
happens AFTER all information has been checked and verified. You are actually
APPROVED for the loan and the only loose end is the appraisal on the property.
This process takes anywhere from a few days to a few weeks depending on your
situation. It's VERY POWERFUL and a weapon I recommend all my clients have in
their negotiating arsenal.
2. Sell Your Property First, Then Buy the House
If you have a house to sell, sell it before selecting a house to buy!
Contingency sales aren't nearly as strong as one that comes in with a ready,
willing and able buyer. Consider this scenario: You've found the perfect house -
now you have to go make an offer to the seller. You want the seller to reduce
the price and wait until you sell your house. The seller figures that this is a
risky deal, since he might pass up a buyer who DOESN'T have to sell a house
while he's waiting for you. So he says OK, he'll do the contingency but it has
to be a full price offer! You have now paid more for the house than you could
have because of the contingency, and you have to sell your existing house in a
hurry! Otherwise you lose the house! So to sell quickly you might take an offer
that's lower than if you had more time. The bottom line is that buying before
selling might cost you THOUSANDS of dollars.
3. If you're concerned that there is not a house on the market for you, then go
on a window-shopping trip. You can identify possible houses and locations
without falling in love with a specific house. If you feel confident after that
then put your house on the market.
Another tactic is to make the sale "subject to seller finding suitable housing".
Adding this phrase to the listing means that WHEN YOU DO FIND A BUYER, you will
have some time to find the new place. If you don't find anything to your liking,
you don't have to sell your present home.
3. Play the Game of Nines
Before house hunting, make a list of things you want in the new place. Then make
a list of the things you don't want. You can use this list as a guide to rate
each property that you see. The one with the biggest score wins! This helps
avoid confusion and keeps things in perspective when you're comparing dozens of
homes.
When house hunting, keep in mind the difference between "STYLE AND SUBSTANCE".
The SUBSTANCE are things that cannot be changed such as the location, view, size
of lot, noise in the area, school district, and floor plan. The STYLE represents
easily changed surface finishes like carpet, wallpaper, color, and window
coverings. Buy the house with good SUBSTANCE, because the STYLE can always be
changed to match your tastes. I always recommend that you imagine each house as
if it were vacant.
Consider each house on its underlying merits, not the seller's decorating
skills.
4. Don't Be Pushed Into Any House
Your agent should show you everything available that meets your requirements.
Don't make a decision on a house until you feel that you've seen enough to pick
the best one.
A decade ago, homes were selling quickly, usually a few days after listing. In
that kind of market, agents advised their clients to make an offer ON THE SPOT
if they liked the house. That was good advice at the time. Today there isn't
always this urgency, unless a home is drastically underpriced, and you'll know
if it is.
Don't forget to check into the SCHOOL DISTRICTS of the area you're considering.
Information is available on every school; such as class sizes, % of students
that go on to college, SAT scores, etc. You can get this information from this
web site.
5. Stop Calling Ads!
Please note - ads are cometimes created to make the phone ring! Many of the
homes have some drawback that's not mentioned in the ad, such as traffic noise,
power lines, or litigation in the community. What's not mentioned in the ad is
usually more important than what is.
For this reason, I want you to be very careful when reading ads. Remember that
the person writing the ad is representing the seller and not you! The most
important thing you can do is have someone on your side looking out for your
best interests. Your own agent will critique the property with an eye towards
how well it meets your needs and will point out any drawbacks you should know
about. So whether you decide to work with me or not, pick an agent you feel
comfortable with and enlist the services of that agent as a buyer's broker. Then
you become a client with all the rights, benefits, and privileges created by
this agency relationship, and you're no longer just a shopper. Did you know that
many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE
PAPER? These "great deals" go to those people who are committed to working with
one agent. When an agent hears of a great buy, who do you think he's going to
call? His client, who he has a legal obligation to work hard for you, or someone
who just called on the phone and said "keep your eyes open"? So to get the best
buy on a property, I always recommend that you hire your own agent and stick
with him.
Thanks for visiting!
Healthy Home: The Top 10 House Maladies To Avoid
1. Improper surface grading and drainage. Inspectors rated this problem the most troublesome, with 35.8% of those surveyed listing it as their top issue. Responsible for household maladies, such as leaky basements or crawl spaces, grading and drainage problems can be fixed either by regrading the ground away from the house or replacing gutters and down spouts.
2. Improper electrical wiring. This was rated the most common problem by 20% of the inspectors surveyed. Some inspectors reported that 70% to 80% of electrical wiring in homes is installed incorrectly-mostly by do-it-yourselves. Noted problems included insufficient electrical service, inadequate overload protection and amateur (sometimes dangerous) wiring connections.
3. Roof damage. Leaking roofs ranked third in the survey, resulting most often from old or damaged shingles or improper flashing and drainage. Asphalt shingles, the most commonly used shingle type, last between 20 and 30 years-about the same life span as wooden shake shingles. For longevity, try slate shingles, which can last 100-plus years!
4. Heating systems. Most sales contracts require that heating systems be in working order, so it’s an item that must be dealt with if it fails the home inspection-which often happens, according to the ASHI survey. Problems include broken or malfunctioning controls, blocked chimneys and unsafe exhaust disposal. Don’t overlook heating system problems-they can be dangerous if left unattended.
5. Poor overall maintenance. Although the survey found this problem common, it is truly avoidable. Signs of poor maintenance include: cracked, peeling or dirty painted surfaces; crumbling masonry; makeshift wiring or plumbing; and broken fixtures and appliances.
6. Structural problems. This category includes damage to structural components such as foundation walls, floor joists, rafters and window/door headers-often caused by some of the five problems already listed.
7. Plumbing. Common problems include faulty fixtures and waste lines and the existence of old or incompatible piping materials.
8. Exteriors. While exterior flaws may not have structural significance, defects in windows, doors and wall surfaces can cause discomfort to residents via moisture and air penetration. The most common exterior problems are inadequate caulking and/or weatherstripping.
9. Poor ventilation. It is possible to “overseal” a home, resulting in excessive interior moisture, which can lead to rotting and failure of structural and non-structural elements
10. Miscellaneous. Included here were interior elements-usually cosmetic. They were mentioned so infrequently by respondents that they did not rank individually in the survey.
Fortunately, many of the most common problems in homes are far from fatal-they can often be fixed quickly and inexpensively! The point is to fix them early, before they cause significant damage to your home.
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