175+ Tips Why Buyers Should Use a Realtor

175+ TIPS FOR WHY BUYERS SHOULD USE A REALTOR SALE While not all inclusive, the list below identifies why buyers should use a Realtor®, and lists MOST of the things any agent who cares about their clients, will do for you or on your behalf. PRE-SHOWING Before we begin looking at potential homes, it is important that you contact a competent lender to see how much home you will qualify for, and to make sure that your credit is acceptable for a home purchase - requirements are changing daily. You will receive a letter from the lender (pre qualification) before we begin. WHERE TO BEGIN STEP ONE STEP TWO STEP THREE Make appointment with buyer to find buyer's wants and needs in a home Have buyer contact lender and find out ability to get pre- approved for a loan Get pre-approval from lender to begin showing houses STEP FOUR STEP FIVE STEP SIX Have buyer access our website to begin looking at available Confirm time to meet with buyer Prepare Agency Disclosure homes G MEET WITH BUYER Then we meet with you to discuss your wants and needs in a home, understand your projected time frame in purchasing, logistics if you have a home that needs to be sold, and understanding Buyer Agency and all of its benefits. Discuss our company policy on agency Discuss wants and needs in a home, price range, a time frame, how motivated the buyer is 9 Discuss areas in which buyer would like to look SOLD Does buyer have a home that must sell prior to purchase? 10 11 Explain that it does not cost buyers out-of- pocket to work with a Realtor® - seller pays Not in buyer's best interest to work with multiple agents – need an "advocate" 12 13 Do computer research to find homes that meet buyer parameters Set appointments to view several of these homes 14 15 View homes and get a feeling for what does and doesn't appeal to buyer Will show houses one day, then must decide on Buyer Ağency 16 17 Sign Buyer Agency Agreement AFTER THE BUYER AGENCY IS SIGNED I will preview homes electronically and physically and share them with you, contact my Realtor® network, prepare showings, define and narrow list for what we will see, map route for viewing houses until we find something about which you are excited. Copies of all documents - give a set to buyer Do another computer search and narrow or expand the field of possible Prepare showing inventory Preview homes by phone and physically, if necessary homes 20 Call Realtor network to discuss our buyer's needs and new listings Present buyer handbook to explain process and take notes of homes we are viewing Can see 1 or 100 homes Map out location so that showings are systematic - allow plenty of time Check MLS for matching sellers Input buyer into Outlook Contact unrepresented sellers GAFTER BUYER FINDS A HOUSE THEY LIKE Prepare a thorough market analysis to make sure value in the home is reasonable, call other agent and pre-negotiate, get disclosures and thoroughly discuss all paperwork, possible offer, and pricing strategy based on professional judgment and market. Sign all paperwork and completed offer (Contract). 29 Pull property city and tax records 30 SOLD Pull old MLS listing, if applicable 31 Order Owner e Encumbrance Report 32 Research property's current use and zoning 33. Research and verify legal description of property Pull comps on active, sold, pending, withdrawn, expired, and cancelled listings 34 35. Research "average days on market" for property of this type and location 36 Prepare Comparative Market Analysis 37 Print map of property and comps Pre-negotiate with other agent before writing, if applicable 38 39 Prepare contract 40 Receive all disclosures 41 Discuss contract with buyer 42 Sign closing instructions 43 Sign seller's property disclosure 44 Complete lead-based paint disclosure 45 Complete square footage disclosure LNJ 46 Discuss Comparative Market Analysis 47 Discuss offer and pricing strategy based on professional judgment and market 48 Discuss availability of home owner's warranty 49 Get copies of leases, if applicable LEASE Ask for floor plan, upgrades, special features, detailed list of amenities 50 G CONTRACT NEGOTIATIONS Discuss your financial qualifications with other agent, terms of offer, time frame of seller, and any other details that might be important in writing an offer. Present offer, negotiate offer and possible counter offers, renegotiate to complete the contract to your satisfaction. Discuss buyer's financial qualifications, terms, and times Discuss exclusions, dates, etc. with other agent Review Contract Addendum Evaluate offer and prepare a "Net Sheet" for buyer 51 52 53 54 Prepare and convey any counteroffers, acceptances, or amendments Sign offer or reevaluate offer, if necessary Convey pre- qualification letter Negotiate the offer and options 58 57 56 55 Renegotiate however many times necessary and finalize Discuss options with buyer; if accepted, go "under contract" Receive signed Acceptance deadline contract or counter- proposal time 8888 59 60 61 62 Convey signed copies to other agent Make applicable copies UNDER CONTRACT 64 63 G AFTER CONTACT IS SIGNED BY ALL PARTIES We will deliver your earnest money and contract to your lender and title company to set the closing process in motion. Set up time for inspections, review and track all dates; get insurance; resolve any title disputes and matters of HOAS, verify that permits were pulled correctly on any upgrades, coordinate closing time and any special items needed. 65 Copies of all documents - copies to buyer 66 Make copy of earnest money and contract Deliver check to 67 other agent 6A Convey contract to mortgage lender 69 Convey contract to title company 70 Notate dates on calendar 71 Send date sheet to buyer 72 Do necessary paperwork for unusual conditions 73 If seller and buyer both our clients, do change of status notice 74 Copies of leases and damage deposit receipts, if applicable Track seller's 75 property disclosure 6 deadline Inspection objection deadline 77 Resolution deadline 78 Property insurance 79 Review all paperwork for signatures objection deadline 80 Get all necessary signatures 81 If mail-out, get instructions and addresses 82 Notify title company of mail out Remind buyer to notify utility company to start service and do a "final read" 83 If POA needed, get 84 Get POA signed and notarized 85 original from title company Discuss what happens if other offers come in Is buyer's current house on the market - resolve timing issues 86 87 88 Resolve any title disputes between contract and closing Deliver unrecorded property information to buyer Discuss change-of- address forms to buyer 89 Resolve any off- record matters 90 91 92 93 Call seller's agent and coordinate closing time 94 Verify closing date and time and make all parties aware Set up closing time Mail time-verification of closing and directions to buyer 96 Assist in solving any title problems 97 (boundary disputes, easements, etc.) Cleaning needs (e.g. carpet, kitchen, etc.) upon move-out 95 Receive list of Verify with regional 98 time-frame for move- 9 completed repairs 100building that appropriate permits were pulled Discuss mover and and maintenance items seller has done in with buyer Mail copy of contract to buyer - 101 Verify HOA fees and disclosures, if applicable Call in HOW, 102 include MLS 103 fapplicable printout and projected buyer cost sheet. Calculate average 104 utility usage for ſast twelve months Return all phone 105 calls - weekdays 106 Add daily activities to contact management and weekends software G HOME INSPECTION At this point we will set and coordinate times with all parties to do your home inspections, meet with Inspector, review their report, search for repair estimates, and negotiate with Seller on any inspection objections. Prior to closing, verify that all items have been completed. Coordinate time with seller, agents, buyer, inspector Help buyer negotiate inspection objections Review notice Set up Inspection of unsatisfactory conditions with buyer 107 108 109 110 Help buyer with repair estimates or a credit at closing Copy of inspection notice to file Verify prior to closing that all repairs have been made Get copies of repair receipts 111 THE APPRAISAL The bank will assign an independent appraiser to appraise the property. We will coordinate time with all parties, I will do a market analysis and prep for value. Verify appraisal has been completed and note any conditions. Discuss options with you if appraisal is low, and schedule final inspection if there were any conditions. Coordinate IDO current Set up appraisal 1 Meeto appraiser time with seller, agents, buyer, appraiser CMA for appraiser with CMA Track appraise deadlin Verify appraisat completed A and satisfactory LEVA, make sure CRV ordered and completed Discuss any conditions on appraisal with buyer Schedule final inspection on appraisal conditions, if applicable Verify all conditions met prior to closing options with buyer TRACKING THE LOAN PROCESS I will verify all of your information with your lender. I will also verify that the processing of the loan is moving forward according to schedule, that the lender has all of the information needed, and continue to keep track of loan and credit deadlines. Make contact with lender and verify buyer information Buyer's credit 'information deadline 128 All 126 Loan application deadline 127 129 paperwork to lender Existing loan documents objection deadline 1.30 Disapproval Existing loan documents deadline of buyer's 131 132 credit information deadline Contact Confirm that Loan transfer approval deadline Notify buyer of Toan approval 134 lender often 135 we are not liable for lender non- performance 133 136 to ensure processing of loan approval is on track G IF CONTRACT FAILS We will be upset for just a little while, and then we will begin the process again. We will need to fill out all of the paperwork necessary to get earnest money released. Then we return to after Buyer Agency is signed. 137 138/ 139 Fill out all necessary paperwork Get release of Get earnest money back for buyer earnest money forms signed G CLOSING PREPARATIONS & DUTIES You and I will do a walk thru of the property, figure out the approximate amount you will need to bring to closing, confirm dates, mail outs, and POAS with our closer. Verify property insurance, possession, financing details, and make sure Closer has all paperwork. I will verify closing figures. You will bring a cashier's check. We will have a good time. Schedule walk through with buyer, buyer's agent, seller If mail-out, verify correct mailing address 140 142 141 143 Verify with buyer approximate monetary amount needed Confirm mail-out with closer Schedule walk through with buyer, buyer's agent, seller If mail-out, verify correct mailing address ---------------- 144 145 147 Verify with buyer approximate monetary amount needed Confirm mail-out with closer Title deadline Survey deadline 148 150 149 151 Title objection deadline Survey objection deadline Document request deadline Off-Record matters deadline 152 154 153 155 CIC documents objection deadline Off-Record matters objection deadline Right of First Refusal deadline Coordinate possession date and possession time 156 158 157 159 Property insurance objection deadline Prepare disbursement authorizations Notify title company of any amend/extends or Make sure closer has all addenda, correct price, rents, or applicable credits date/money changes 160 162 161 163 Last minute bills and receipts faxed to Discuss closing figures with closer closer including HOW, if applicable Check final figures for accuracy Remind buyer to bring picture ID 164 168 165 167 Call buyer and discuss final figures Discuss buyer's need for cashier's check Coordinate this closing with buyer's sale and resolve timing issues Deal with all last-minute crises 168 170 169 171 Check file for any unsigned documents Have a "no surprise" closing so that buyer can obtain possession after closing G POST SALE Our office will scan and store your file, make sure that the real estate sign and lock box are removed, and make sure that you have a copy of the HUD-1 (closing document) for next year's tax return. You will now be faced with the daunting task of moving in. 172 Enter sales data for county records Scan entire file to disc 173 Copy HUD-1 and put in pre- addressed envelope 174 Store hard file at outside location 175 Mail out disc of all paperwork to buyer Mail out HUD-1 to buyer the following year for taxes 176 177 Gift to client Ask for referral 178 179 These 175+ tips on why buyers should use a Realtor® should give you plenty of food for thought on what type of agent you want to hire, what services they will provide, and the quality of effort they will put into helping you find your first, next, or last home. wwW.SELLINGWARNERROBINS.COM COLDWELL BANKER S (478) 960-8055 (C) / (478) 953-8595 x227 (0) SSK, REALTORS WWW.COLDWELLBANKERSSK.COM CANITA CLARK Tips provided by: Realtor®, Mimi Foster - www.cospringsrealestatenews.com Source: http://sellingwarnerrobins.com/2011/11/why-buyers-should-use-a-realtor/ ш %24 IN