Home Buyer FAQs
What is your process for working with buyers?
While some agents take a hands-off approach with their clients, when you hire me, we will be working closely together throughout the process. Although you will likely be also be visiting open houses on your own, we will be in regular communication regarding properties of interest, developments in the market, and whatever questions you have along the way. And when you find a place you love, I will be there with you every step of the way to closing and beyond!
How long does it typically take for buyers to find a home in this market?
This varies a lot of course, with some buyers literally buying the first house they visit and others taking over a year to even submit an offer.
Do you use a buyer agreement?
Yes! It is now required by the terms of the recent National Association of Realtors (NAR) legal settlement, that all Realtors and their buyer clients sign a written buyer representation agreement, outlining services provided and the fee for these services.
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What is your fee for buyer representation?
While I am a firm believer in transparency, because all real estate compensation is negotiable, I cannot provide a blanket statement of my fees here -- that will be discussed when we meet. However, it is important to be aware that the recent NAR settlement stipulates that buyer agent compensation is the direct responsibility of the buyers. This is a change from the historical practice of listing agents offering a percentage of their compensation to buyers agents at closing.
Note, though, that sellers are still allowed to provide financial concessions to buyers, and as a buyer, you are allowed to negotiate with the seller directly regarding payment of your agent’s fee. From what we've seen in the market so far, the majority of buyers have been writing their agent fees into their offers and most sellers have been amenable to paying them.
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Aside from the cost of my new home, what expenses should I expect?
Most of your expenses (appraisal, financing costs, attorney fees, etc.) will be rolled into your closing costs, due the day you close on your new home. Prior to that, you will be paying a couple deposits—one with your offer (typically between $1,000 and $10,000) and one at the P&S signing (5 - 10% of purchase price). Additionally, if you have a home inspection, you will pay the inspector on site. Cost varies depending on the size of the home and the particular inspector, but is usually in the range of $500 to $1000. As stated above, you are also responsible for your buyer agent fee if it is not covered by the seller.
How do I know I'm choosing the right agent?
The success of my business is built on repeat clients and referrals from my client base, and it is my top priority to ensure that every current client transaction turns into a lifelong relationship. Acting in your best interest is in MY best interest!
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