A Realtor does WHAT? And it is free to me!
I have seen articles in the previous years saying that Buyers do not need a Realtor anymore. There is so much information about houses for sale available online!
Houses for sale, For Sale By Owner homes, houses to rent and so much more…there are as many different apps to get the information as there are companies willing to give you that information, or googling an address can bring up:
- Homes for Sale
- Square Footage
- Previous listings with inside photos
- Criminal activity
- Gang activity
- Child molesters
- Haunted house activity
- Estimated home values
- and so much more
Why would you need a Realtor? What benefit is there for you to use an Agent? I have even heard that millennium’s don’t pay for anything…and they will be the largest pool of buyers in 2016. 86% of the millennium’s say home ownership is their number one economic goal!
- Who are the best Mortgage Professionals who get the job done with little or no stress?
- How familiar are you with Buyer Agency?
- Who will be your Advocate when things go wrong?
- Do you have time to look for properties on your own?
- Do you have a home you need to sell before you can buy?
- Do computer research on homes
- Set appointments to view homes
- View homes and give agent feedback
- Make Copies of all documents
- Call REALTOR(r) network to discuss homes they are listing soon
- Contact unrepresented Sellers on your behalf
- Map out locations to show
- Pull property, City, County and State Records on home you like
- Pull old MLS listings, if applicable
- Order Owner & Encumbrance Report
- Research properties current use and zoning
- Research and verify legal description of property
- Pull comps on Active, Sold, Pending Withdrawn, Expired and Canceled listings
- Research “Average Days on Market” for property type and location
- Prepare Comparative Market Analysis so you don’t over pay for home
- Prepare map of properties used as comps in relationship to the home you like
- Who is going to explain the purchase offer to you?
- Did you receive all the disclosures Real Estate Law requires you to view prior to making an offer?
- What do the disclosures mean to you?
- What about the availability of Home Owner’s Warranty?
- What about the floor plan, upgrades, special features and a detailed list of amenities?
- What Addendum’s do you need to present along with your purchase offer, if any?
- What if you get a counter offer, is it in your best interest?
- Can you counter a counter offer:
- What is earnest money?
- If your offer is accepted who gets the earnest money and when is it due?
- Is the earnest money refundable?
- Who does the paperwork for unusual conditions?
- When do you need your home owners insurance binder?
- Do you have to pay for home owners insurance before closing?
- Who orders title work?
- Who pays for the home owners title work?
- Who pays for the buyers title work for their lender?
- What happens if the title to the property has defects?
- What is the deadline for having utilities switched over to buyer?
- If the home inspection requires repairs who pays for them?
- Is there a deadline to have repairs made?
- Who makes sure the repairs are made correctly?
- Who makes sure the repairs were paid for so they don’t become a mechanics lien?
- Who orders the appraisal?
- What if the home doesn’t appraise for the purchase price?
- What if the appraisal shows more/some repairs are needed?
- What will that mean to the underwriter?
- What is an underwriter? Who do they work for?
- What do you do if Lender you chose failed to perform?
- Will you lose your earnest money?
- What is a final walk thru for?
- What is right of first refusal?
- Who coordinates possession date and time?
- When is a wire transfer warranted vs cashiers check for closing funds?
ALMOST always, a buyers representation is a FREE service to home buyers. The SELLER pays the commission for your representation. Why would you not accept the gift of someone to guide you thru the process of buying a home?
Thanks to Evelyn Johnston in Elkhart Indiana for this great information.