WELCOME              toThe Candy Connection First time      homebuyers workshopInformation provided & presented           ...
Arletha (Candy) Myers, Realtor®Long and Foister Real Estate3004 Emmorton RoadAbingdon, MD 21009                           ...
The broker accepts no expressed or implied liabilitydue to the contents of this report. Although the factshave been obtain...
Homebuyer Decides to Buy That’s    it! I’m tired of  wasting money in  rent. I’m tired of  paying some else’s  Mortgage f...
BUYER SELECTS SELLING    ASSOCIATE/BROKERLong & Foster Real Estate, Inc.         ERA RE/M         Adva     AX           nc...
UNDERSTANDING WHO THE REAL ESTATE AGENT  REPRESENTS
Understanding WHO represents                 WHOor selling, it’s Whether you’re buying    important to choose representat...
Buyer Agency When  you’re buying a home, you can hire an agent who represents only you, called an exclusive buyer’s repre...
Seller Agency Ifyou’re selling your home and hiring an  agent to list it exclusively, you’ve hired a  selling representat...
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 b...
Dual Agency   In many states, agents and companies can represent both    parties in a home sale as long as that relations...
Designated AgencyA form of disclosed dual agency, “designatedagency” allows two different agents within asingle firm to re...
Nonagency relationship Insome states, you can choose not to be represented by an agent. That’s referred to as nonagency o...
Buyer determines buyingneeds and purchasing power Buyersits with a Lender to determine what they can afford to spend on t...
Buyers review availableproperties for sale with their            agent
BUYER MAKES AN OFFER    TO PURCHASE • Accept it           Reject it               Make a counter offer
OFFER ACCEPTED
Buyer & Sales Associate   arrange for Inspections                                        Lead Base Paint         TermiteSe...
SETTLEMENT
CONGRATULATIONS! Best  Wishes for much success in your  quest for Homeownership. Call me if you have any questions. If ...
Accreditations
Arletha (Candy) Myers, Realtor®     Long and Foster Real Estate, Inc.           3004 Emmorton Road           Abingdon, MD ...
Arletha (Candy) Myers Connecting Buyers & Sellers by opening one              DOOR at a TIMEVisit my webpage to tour every...
First time homebuyer presentation
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First time homebuyer presentation

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First time homebuyer presentation

  1. 1. WELCOME toThe Candy Connection First time homebuyers workshopInformation provided & presented by Arletha (Candy) Myers, Realtor ®
  2. 2. 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
  3. 3. 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.
  4. 4. 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.
  5. 5. 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
  6. 6. UNDERSTANDING WHO THE REAL ESTATE AGENT REPRESENTS
  7. 7. 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.
  8. 8. 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.
  9. 9. 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.
  10. 10. 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.
  11. 11. 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.
  12. 12. 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.
  13. 13. 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.
  14. 14. Buyer determines buyingneeds and purchasing power Buyersits with a Lender to determine what they can afford to spend on their new home.
  15. 15. Buyers review availableproperties for sale with their agent
  16. 16. BUYER MAKES AN OFFER TO PURCHASE • Accept it Reject it Make a counter offer
  17. 17. OFFER ACCEPTED
  18. 18. Buyer & Sales Associate arrange for Inspections Lead Base Paint TermiteSeptic Home Inspection Radon Well
  19. 19. SETTLEMENT
  20. 20. 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
  21. 21. Accreditations
  22. 22. 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: thecandyconnection@gmail.com Broker/Manager Direct # 410-879-8080 Manager: Mike Scarborough
  23. 23. 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

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