Have you been on the local websites or looked in the local newspaper for homes? There are always several homes for sale by the owner (FSBO) available. Do you have any assurance that these people have an educated knowledge of the value of their home? Let me relate a story about a really sweet family I know.... Lauren and Nick were shopping for their very first home and found one in Brigham City that was just so cute they could really envision their family living there. The sellers would not consider what the professional REALTOR had told them about the value of the home so they decided to sell as a FSBO. Well the buyers, Lauren and Nick, came along and fell in love with the home and were very proud of themselves for saving $15,000 for a down payment. The seller announced that he wanted $157,000 for the house and would not settle for anything less. Well the house would only appraise for $138,000 so with the buyers $15,000 down payment that would net the seller only $153,000 so the seller decided to take the deal. They closed on the home and have made several improvements, replaced kitchen and bath floors with tile, fixed a major plumbing leak that they discovered later (seller knew about it but did not disclose), repainted and added their own touch. Do you see what happened to the buyers down payment yet? The house still only appraises for $138,000 so now that they are considering selling they will not be able to get their $15,000 back out of the house (not to mention the $$ invested in improvements), because THEY PAID TOO MUCH!!! OR the story of Greg FSBO who sold his home by putting it on a local website. Jeremy H relocated to town from out of state (he had no idea of the values of homes) and made an offer on the home. The home needed a lot of updating and improvements but the house had a large garage and guys love their garages. So he paid $150,000 for a house that was worth really about $130,000. One year later Jeremy H has had an economic change in his life and must sell the home now. No improvements were made to the home although it still has a really sweet garage. The home is still worth about $130,000 but since his loan is more like $150,000 he is upside down. The home has now been foreclosed on. Because HE PAID TOO MUCH!! What would have happened to both of these stories if they had sought out the help of licensed Professional Realtors who knew the market value of homes in the area? When you hire a dedicated Buyers Agent to work for you here is what you get: 1) Knowledge of the market value of homes. 2) We will preview homes to see if they meet your criteria so you do not waste your valuable time looking at homes that clearly are not right for you. 3) We will prepare a CMA (comparative market analysis) of your favorite home to advise of true market value. 4) Assist you in choosing a licensed mortgage lender. 5) Help you decipher your Good Faith Estimate of closing costs. 6) Help you get your selected home inspected by a Professional Home Inspector. 7) Demand and review the six page Sellers Property Condition Disclosure (only provided if listed by a realtor). 8) Advise you on matters such as termites, septic tanks, utility services, home warranties, etc. 9) Educate you on all steps of the buying process, so you are a confident homeowner. 10) Make sure all liens are paid current from sellers ownership so you get clear title. 11) Services of a dedicated BUYERS AGENT are FREE to you as the buyer. Give one of our Professional Sales Agents a call to get started. Meet our Sales Team Click HERE for more Buyer Tips!!! |