The Best Guide to Buying A Home in the Hudson Valley
Work Together with A Local Real Estate Agent
Buying a home is most likely the single largest purchase that any of us make in a lifetime. Keeping that thought in mind, making an informed decision is important. The process of purchasing a home is different and many locations and can be more than a bit overwhelming. While there is a ton of information on the internet, not all of it explains all the details of how to buy a property in a specific area, state, town or neighborhood. Knowing the nuances of the location and “how things work” is a plus when you are a buyer.
Any licensed real estate agent can sell you a home that is for sale, but not all agents are working in your best interest. If you have found the listing agent for any home, that agent has already signed contracts with the seller as their highest priority. Honest and fair treatment is required, but it does not imply fiduciary responsibility to anyone but the seller. Knowing how to select an agent and be represented in the process is an important part of the equation when buying your home.
It may appear that any real estate agent can provide the same information, or that you can find all of that same info on the big advertising sites. That is not the true story. While the info may seem similar, there is a good deal of old info and misinformation out there. As an agent I am well equipped to sift through all of what you might be seeing and further interpret what you should be aware of. Many can, but not all agents will be working directly for you, and if that is true, then providing this service is not something you will always see. If you are not working with a buyers agent, then the agent will be working for the seller and their best interest. You will be a customer, and your best interest will not be key to that agent. Representation matters when buying a home, and fiduciary responsibility to your is the term you are looking for. Since there is no extra costs to the buyer, to have an agent work on your behalf, it makes perfect sense to work directly with one agent. So how does this all work?
Let’s Begin with a Conversation – As a buyers agent, I begin a discussion with my clients on how to plan for the process. It is not always possible to meet face to face, but with emails and phone calls there is usually enough information to get the process started. The first few questions will be about time frame, size of the home, budget and how you will pay for the home. It is at this time we discuss agency and who I work for. As a buyer’s agent I can work in your best interest and together the decisions become more clear, allowing for you to make more informed decisions for you and your family.
Finding a Lender– I discuss the need for speaking with a lender from the beginning. I can assist you with info about how a budget is just as important as a pre-approval letter. The two should never be confused. If you are looking for a lender I can help guide you to some local banks that clients in the area have proven to be most helpful in a successful transaction for past clients.
Discuss the buying process – While it may seem rather straight forward when buying a home, the small details of what it costs to close on a purchase can be more than you expect. Title, lawyer fees, surveys and more are a part of what you would need to know about when buying a home. Estimating for these costs are an important part of the transaction.
Searching For a Home – With so much information online to confuse you, it is hard to sift through all the homes that could be of interest. Many sites have inaccurate info that consumers find frustrating. After we find out what your budget is, and making some decisions of where and what type of home you are looking for I can narrow down a search. By listening to your needs and wants, we establish a set of parameters that could work. I have streamline the process by providing my clients with their own access to the MLS just like me. Once I invite you to view the portal, you can search any property with all the same parameters that I do. I am also able to set up the search feed so alerts automatically are emailed when a new property comes on the market, or has a change in price. This helps keep my clients informed about what is actually happening with properties of interest.
Touring Homes – Let the fun begin!! This is always the most fun part of searching for a new home. Once we have found some homes of interest and a budget has been established I schedule appointments for you and show you homes that could potentially be the right one, Appointments need to be made to arrange viewings. I coordinate all showings with owners and listing agents as needed. It takes a bit of organization and about 24 hours advance notice for most properties so that we can see a few properties all on the same day. As we tour different homes I can point our different features a home has and also concerns that may not be as obvious to you. Open communication and feedback on the homes helps with making decisions.
Writing an Offer – When that special home becomes a reality and you chose to put in an offer my work continues. I will provide you with more detailed information on the home as needed. I will get any questions about a listing answered if possible prior to your offer being submitted. At this time a Comparative Market Analysis is provided. I work to gather up to date information on sold properties in the area and for how much. Together we discuss how to make your offer the strongest so that a buyer either accepts the number offered or is more receptive to any negotiation. Knowledge is power and a properly written offer can be the framework for successfully negotiating the purchase of a home.
Negotiate the Offer – My services as your buyer’s agent are to present your offer in it’s best light. When contacting the selling agent I discuss the offer in terms of why and how we came to the amount offered. My loyalty is to you, the buyer, in this transaction. My responsibility is to help you find the home you want at the best price that a seller is willing to allow. This is an important service provided with the buyer’s interest in mind.
Scheduling Home Inspections – An important part of buying a home is to have a home inspection prior to going to contract. Understanding defects and maintenance is the job of your home inspector. When I attend your home inspect you are in the driver’s seat. You contact the home inspector and he is directly responsible to you to do a visual inspection and report on major defects or hazards. While no home is ever perfect you should be aware of concerns and how to care for the home in the future. Should any major issues arise, I would work together with the listing agent, seller, and you to resolve the issues. This can be done by either negotiating financial compensation, or the sellers making repairs prior to closing. These inspections and negotiations are done prior to signing contracts.
Appraisals – When the bank needs to tour the home I will be meeting him to allow for access to the home. I am not only the gate keeper, as I provide the appraiser proper comparative homes that have sold ensuring that he has all the proper info needed. While the appraiser is not allowed to discuss the numbers and the report, I am allowed to provide info to him.
Coordinating ongoing details – I work together with the attorney, loan officer and listing agents to make sure that everything is moving forward in a timely manner and facilitate any details necessary as per your contracts. I am always available for questions and updates.
Walk through – At the end of the transaction when we are told that your closing date is scheduled we walk through the home together. This is to make sure that everything that was promised remains in the home. We look to see that the home is in the same condition that it was the day the offer was accepted. It is also a time to recheck any repairs promised from a home inspection.
Attending the closing – Although my work is usually complete when we arrive at the closing table, I do attend closings to support my clients. Should any questions or concerns arise, I am there to help. I LOVE to attend closings as it marks such an important time in the lives of my clients. When clients receive the keys to their new home it is a happy time that I enjoy being part of.
Do you still have questions? I’m here to answer them. The most frequently asked question is this:
Do I pay extra for a buyer’s agent? The simple answer NO!
Contacting the listing agent directly does not provide you with any reduction in pricing. In fact, it can actually cost you more money as that agent is looking to get the highest and best offer for his client, the seller. By entering into an agreement with a buyer’s agent, you will be sure to have the representation needed to protect your interests. Understand that the fees paid to a buyer’s agent usually come from the cooperative efforts of the listing agent and buyer’s agent. It does not come from additional fees directly from the buyer.
When you are serious about buying a home, I would be happy to assist you. My years of experience in the Hudson Valley as a buyer’s agent and local knowledge of the Hudson Valley help me guide my clients through the buying process to owning a Hudson Valley home. Call now at 845-527-7115 or email your questions. I’m here to help!
Your Guide to Home Buying in The Hudson Valley
Resources for Home Buying in the Hudson Valley:
- Local Bank info from TEG Credit Union – (845) 656-7552
- HUD – US Department of Housing & Urban Development Website
- Commuter info for the Hudson Valley
- School Districts , Day Care & Universities in the Hudson Valley
published by: Janis Borgueta Hudson Valley Homes for Sale, in Newburgh NY. Her blog is about living, working and Real Estate in The Hudson Valley. Information here is a community service to the public. Please subscribe to this blog. When you are looking to buy a new home, Search the MLS for New Homes in Newburgh NY. You can contact Janis at (845)-527-7115 or find her on Google+