Buyer Representation

Buyer Representation

The purchase of a home represents one of the most important decisions you and your family will make. It shapes your financial situation because your home will likely represent your largest asset and your greatest long-term financial obligation. It shapes your lifestyle because it defines the area in which you live, work, go to school and play. When making such a vital decision, you should have an excellent understanding of the following:

Searching for the Perfect Home

■What your needs are with respect to your home’s location, neighborhood characteristics and proximity to work, schools, transportation, parks, retail and other frequently visited areas of interest.
■What your needs are with respect to the size and configuration of your home such as the number of bedrooms, living areas, dining areas, play areas, office, lot/yard size, guest rooms, bonus rooms, etc.
■The appropriate price range of homes which will fit your budget and loan qualification level. (Tip: Don’t buy at the top end of the price range you qualify for.)
■A comprehensive list of homes for sale that may fit your needs based on the criteria you specify.
■A “Top-5″ list of the homes which fit your specific needs the best.
■Property tax values, tax rates and HOA assessments for your Top-5 list.

Making an Offer and Negotiating with the Seller

■Recent home sales and average times “on-the-market” for homes comparable to those on your Top-5 list. (Tip: This will determine your “next best alternative”. In order to get the best price for a home, do not emotionally attach yourself to a particular house. Be prepared to move on to the next one or keep looking. )
■The seller’s reasons for selling his or her home. (Tip: This may provide insight into how negotiable the seller might be on price and terms.)
■What terms and contingencies you need included in your offer and subsequent contract so that you can perform an inspection, investigate title and other due diligence matters, and arrange for financing.
■Your obligations and risks with respect to the contract offer or counter-offer you make on any particular home to a seller.

Contract Period and Closing

■Where to go for inspections, a title policy, survey, or legal work.
■What easements, encumbrances, and exceptions to title your survey and title commitment identify.
■Where to go to obtain the best rate and terms for a mortgage loan for the purchase of your new home.
■Where to go for reputable contractors for improvements or repairs.

Being prepared with this knowledge as a buyer will help you negotiate from a strong position and ultimately help you close on the best deal possible. Accordingly, our philosophy is to arm your with all the information you need to make well-informed, intelligent decision regarding your home purchase while keeping you in control of the home search and transaction process. If there is some aspect of our service that you would like performed differently, let us know so that we can adjust accordingly.

Our fees for buyer representation services are paid in the form of sales commissions based upon the sale price of the home you purchase. In most cases, these fees are paid at closing by the seller through the listing broker (the broker representing the seller). The listing broker and the broker representing the buyer then share the total fee. Our fees are always disclosed in the purchase contract.