A Competent Buyer’s Agent
When embarking on your home buying journey, trust Martin to be your guide. Along with his staff, he is dedicated in representing his clients in the best possible way. He will not only get you the home of your dreams, but will also make sure you get the best possible deal.
Why You Need a Buyer’s Agent
When purchasing a home, whether it’s your first or fourth, it’s crucial to have a real estate professional by your side. As a licensed Real Estate Agent, Martin can help you get the most out of your investment by negotiating any offer’s best price and terms. He can also provide years of experience dealing with negotiations, knowledge of the area, school district, and general construction of homes.
Having Martin as your agent can shorten the time it takes to find your home by analyzing what suits you best. From presenting offers to ensuring everything is on schedule once in contract, he will ensure you have a smooth transition from start to finish.
Frequently Asked Questions
Buyer’s Agent
A buyer’s agent is a real estate agent who is hired by a buyer to represent their interests in a real estate transaction. The buyer’s agent negotiates the purchase of a home at a price and on terms acceptable to the buyer and has a fiduciary duty to the buyer, which includes reasonable care, undivided loyalty, confidentiality, full disclosure, obedience, and duty to account.
A buyer’s agent does not represent the interest of the seller. The obligations of a seller’s agent are also subject to any specific provisions set forth in an agreement between the agent and the seller.
Loans
There is a wide range of loans available for homebuyers, including conventional, FHA, rehab loans, and more. The type of loan you are approved for depends on your budget and the type of home you are buying. If you don’t have a mortgage contact, Martin can refer a trusted mortgage broker to pave the way. Having a referred source can make your transaction smoother.
Common Mistakes
Not Being Prepared
Deciding that you want to buy your own home is a daunting yet exciting time. Potential home buyers often do not realize what it takes to purchase a home. There are many factors to consider beyond the mortgage payment, such as property taxes, common charges, home insurance, and flood insurance. Before starting your search, it’s important to sit down and review your finances.
You can contact a mortgage lender or a qualified agent to obtain pre-approval. Once you’ve managed your finances, you can decide on the area you want to look into, and the school districts you want to stay in or avoid. Having an agent can simplify the process and give you a stable footing to guide you through the process without being overwhelmed.
Having a Sense of Value
Have you watched any of the home improvement shows currently on TV? Many of these shows highlight the importance of home value for buyers who often have a long list of requirements but a limited budget. Home renovation shows can be a great source of inspiration and instruction for those looking to improve their homes.
Before starting your search for the perfect home, it is recommended to sit down with your mortgage representative and agent to determine what you can afford. Sometimes it is better to choose a home that has most of what you want and invest time and money into renovations that can give you the perfect home that is exactly your style.
Being Afraid of Fixer-Uppers
Distressed properties (otherwise known as fixer-uppers) have always been a source of terror for new home buyers and seasoned veterans alike. These properties come with an element of uncertainty, and people are often afraid that they will turn into money pits, especially with older homes. However, if the structure is sound, these homes can be the best option to get everything you want and need at a price you can afford.
Renovating a fixer-upper can be a great way to save money and get the home you want, whether you’re looking to live in a certain neighborhood or be close to work in an expensive area. There is the misconception that you must have cash for every renovation. Now, even mortgages allow you a certain amount for rehabilitation. Although the interest rates are higher, rehab loans can still be a perfect alternative if you find something you like but cannot afford to fix the home out of pocket.
Not Getting a Home Inspection
It is crucial for homebuyers to understand the importance of a home inspection. Even if a home looks perfect on the outside, it could have hidden issues that may cause problems in the future. A home inspection does not guarantee that there will be no problems, but it can minimize the chances of purchasing a home with apparent issues that an untrained eye may have overlooked.
Protect yourself and your investment by receiving a home inspection, and you will be in control of the offer you make with full awareness. The seller may even offer to fix certain facets that may have been a problem for you, but you would never know if you did not first put in the time to find out everything you can about the home.
Not Getting a Survey
Once completed, it is suggested to add monuments on the corners of your property. This is a marker that allows you to see the boundaries of your home and prevents you from having to get your house surveyed again. Most lenders require a survey when purchasing a property. If you are buying with cash, it is an option that we highly recommend. A survey provides a visual contract that outlines the parameters of your home, including property boundaries, home size, and any additions made over the years.
It not only gives you an overview of your property but also prevents others from taking what is not theirs. Having a survey is important not only when purchasing but also when selling your home since it provides a legal document describing your property.
Not Checking Local Towns for COs, Open Permits, Violations
Nothing holds up closing more than COs, open permits, and violations. Before you have your heart set on your perfect home, it is advisable to check with the local town to ensure the COs match up to what you saw in the home and ensure there are no open permits or violations.
Any one of these issues can prevent a clear title transfer and take months or even over a year to resolve. It’s crucial to be aware of the house’s structural and legal condition, just like a home inspection. Before committing to a purchase, be sure you understand what it takes to clear violations and close open permits.
Are You Qualified/Pre-Approval
Unless you are a cash buyer, one of the first steps in purchasing a home is obtaining your pre-approval. A pre-approval provides a starting point to verify how much you can afford for a home, which will exponentially decrease or increase your options when searching for a home.
Whether you are decreasing or increasing the price range, having a starting point will show you what areas you can afford and what type of house you can afford. It can also help you decide if you would like to wait a few more years to get exactly what you want. Most agents will ask for your pre-approval early so that when you submit an offer on a home, that pre-approval can show that you have the funds to back up the offer.