Once you have made an offer to purchase a particular property then the seller has an option to accept the offer as presented. Reject the offer as presented. Or counter the offer in some way.
Both parties now have a meeting of the minds about all the terms and conditions set forth in the contract.
From up to five days prior to settlement you can do a walk thru. At the walk thru you should check to make sure everything that was suppose to be left is there and that any repairs you asked for have been completed and that the home is still in the condition you saw at contract.
First time homebuyer presentation
WELCOME toThe Candy Connection First time homebuyers workshopInformation provided & presented by Arletha (Candy) Myers, Realtor ®
Arletha (Candy) Myers, Realtor®Long and Foister Real Estate3004 Emmorton RoadAbingdon, MD 21009 Long and Foster Real Estate, Inc.410 879-8080 (O)443 421-1903 (C) Bel Air
The broker accepts no expressed or implied liabilitydue to the contents of this report. Although the factshave been obtained from sources deemed reliableand are believed to be correct, no liability is assumedby it author. Any unauthorized use of this reportwithout prior written approval is strictly prohibited.
Homebuyer Decides to Buy That’s it! I’m tired of wasting money in rent. I’m tired of paying some else’s Mortgage for them. I think I’ll try and buy my first home.
BUYER SELECTS SELLING ASSOCIATE/BROKERLong & Foster Real Estate, Inc. ERA RE/M Adva AX nce R e alty Cen tury Re alty 2 1 TC E en Fed P Residential BrokerageColdw ell Banker Keller Williams
UNDERSTANDING WHO THE REAL ESTATE AGENT REPRESENTS
Understanding WHO represents WHOor selling, it’s Whether you’re buying important to choose representation that meets your needs in the transaction. You have choices when selecting representation in a real estate transaction. Here are five tips for understanding which type of legal relationship with a real estate professional, called an agency relationship, will best protect you when you buy or sell a home.
Buyer Agency When you’re buying a home, you can hire an agent who represents only you, called an exclusive buyer’s representative or agent. A buyer’s agent works in your best interest and owes you a fiduciary duty. You can pay your buyer’s agent yourself, or ask the seller, or the seller’s agent, to pay your agent a share of their sales commission.
Seller Agency Ifyou’re selling your home and hiring an agent to list it exclusively, you’ve hired a selling representative—an agent who owes fiduciary duties to you. Typically, you pay a selling agent a commission at closing. Selling agents usually offer or agree to pay a portion of their sales commission to the buyer’s agent.
Sub agency When you purchase a home, the agent you can opt to work with may not be your agent at all, but instead may be a subagent of the seller. In general, a subagent represents and acts in the best interest of the sellers and sellers’ agent. If your agent is acting as a subagent, you can expect to be treated honestly, but the subagent owes loyalty to the sellers and their agent and can’t put your interests above those of the sellers. In a few states, agents aren’t permitted to act as subagents. Never tell a subagent anything you don’t want the sellers to know.
Dual Agency In many states, agents and companies can represent both parties in a home sale as long as that relationship is fully disclosed. It’s called disclosed dual agency. Because dual agents represent both parties, they can’t be protective of and loyal to only you. Dual agents don’t owe all the traditional fiduciary duties to clients. Instead, they owe limited fiduciary duties to each party. Why would you agree to dual agency? Suppose you want to buy a house that’s listed for sale by the same real estate brokerage where your buyer’s agent works. In that case, the real estate brokerage would be representing both you and the seller and you’d both have to agree to that. Because there’s a potential for conflicts of interest with dual agency, all parties must give their informed consent. In many states, that consent must be in writing.
Designated AgencyA form of disclosed dual agency, “designatedagency” allows two different agents within asingle firm to represent the buyer and sellerin the same transaction. To avoid conflictsthat can arise with dual agency, somemanaging brokers designate or appointagents in their company to represent onlysellers, or only buyers. But that isn’t requiredfor designated agency. A designated, orappointed, agent will give you fullrepresentation and represent your bestinterests.
Nonagency relationship Insome states, you can choose not to be represented by an agent. That’s referred to as nonagency or working with a transaction broker or facilitator. In general, in nonagency representation, the real estate professional you work with owes you fewer duties than a traditional agency relationship. And those duties vary from state to state. Ask the person you’re working with to explain what he or she will and won’t do for you.
Buyer determines buyingneeds and purchasing power Buyersits with a Lender to determine what they can afford to spend on their new home.
Buyers review availableproperties for sale with their agent
BUYER MAKES AN OFFER TO PURCHASE • Accept it Reject it Make a counter offer
CONGRATULATIONS! Best Wishes for much success in your quest for Homeownership. Call me if you have any questions. If you have already hired a Realtor® please do not contact me. If you need to hire a Realtor® please contact me for an interview
Arletha (Candy) Myers, Realtor® Long and Foster Real Estate, Inc. 3004 Emmorton Road Abingdon, MD 21009 410-879-8080 (O) 443 421-1903 (C) Email: firstname.lastname@example.org Broker/Manager Direct # 410-879-8080 Manager: Mike Scarborough
Arletha (Candy) Myers Connecting Buyers & Sellers by opening one DOOR at a TIMEVisit my webpage to tour every home for sale Coming soon Visit The Candy Connection on facebook www.facebook.com/arletha.myers The Candy Connection is LinkedIn www.linkedin.com/#in/thecandyconnection Follow me on Twitter http://twitter.com/arlethamyers