Finding a house

I believe that finding a house is a joint venture between myself and the client. It is my job to know the market, and to match a client's needs to that market. That is why I spend more time listening than I do talking. When was the last time you had that experience with a real estate Agent?

My husband and I have bought numerous properties over the years. Believe me when I tell you that I know how not to treat people- I've experienced it all from the other side of the fence. I have no intention of making my client's experience uncomfortable in anyway.

I live in a beautiful home on the water because my husband and I know how to find and buy a home. It is my job to work just as hard for you as I would for my own family. If I didn't, I wouldn't last long in this business and I've been a very successful real estate Broker since 1991- my success is the result of my ability to help my clients achieve their dreams.

But what about the actual 'mechanics' of finding a house? How do you start? What do you, as the client, need to know and do?

Well, there are 2 approaches:

• Dream our way through
• Plan our way through

Dream our way through: We sit down together and dream of the perfect home for you. I ask a lot of questions about you, your lifestyle, your family, your likes and dislikes. All sorts of stuff. And together we come to a vision of what would make you happy. Then I go do my thing and find your house for you!

Plan our way through: You have already written up a solid list of features you require. Together, we go over this list and define the possibilities available in the market. And if there are none: I'll go out and create some! I have a large proprietary list of clients I know who are always willing to at least listen to a reasonable offer. You just never know what I could turn up!

Which ever way is comfortable for you is the way we will work together.

You may even know the exact property you want to buy and are simply looking for an experienced Broker to work for you- perhaps to represent you as a Buyer's Broker, which I do for a good percentage of my clients.

As you know, a Buyer's Broker is bound by law to work in the best interests of the buyer, not the seller whereas when I list a property I really represent the seller. This, of course, is not to say that the purpose of seller representation is to lead the unwary buyer astray. Quite the contrary!

It is the Realtor's job to fairly represent the property to the buyer to make sure it is a good fit. Why sell something to someone if they will ultimately be unhappy with it? I know it sounds crazy, but there are Agents out there who just don't understand these concepts. The result is grief and upset people- sometimes buyer and seller! Gee... who needs that? Not me!

I like to spend my vacations relaxing rather than worrying about who didn't get good service. I never have to worry about referrals or future business because I do my job for both buyer and seller from the start. And everyone ends up happy! That's the way we all want things to come out, right?

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

Making an offer

All I can say is that finding just the right home for most folks is a very trying experience. You want everything to come out just right. And you deserve that. But when it comes time to talk about making an offer, it is too easy to let your emotions get in the way of the proper decision process.

That is where the services of a good Realtor can make the difference between you realizing your dreams and missing an opportunity. It is my job to know the needs of both the buyer and the seller and to bring about a resolution to any differences that may block a successful transaction.

Remember, I get paid in 2 ways: first, when I facilitate a transaction on a property, and second from future business and referrals from both sides of the transaction. If transactions don't happen, then I'm not going to be in business for long! As this is not an appealing proposition for me, you better believe that I will work to make both sides happy!

I believe that a real estate transaction is a 'win-win' situation; there should be no one left holding any bag or feeling like they didn't come out of things as well as they should have. I am successful because I know how to assist buyer and seller to come to an agreement. That is my job and I am very good at it. So, relax and just let me worry about that part. You just concentrate on making the decision as to which property you want to buy!

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

How long will it take?

How long will all of this take? I don't know. It depends on so many different things that making a blanket statement about this is not possible.

What I can tell you is that depending on the market, there is an average time that can be calculated as to how long properties are remaining on the market before being sold. In a hot market, this time could be measured in weeks or even days. In a slower market, 3 months or more might be seen.

You need to know what sort of market you are entering. I would be sorely deficient in my job if I inferred to you that we could casually survey many properties and then come back in a week or so to revisit your top choices if we were in a 'hot' market; by the time we finished our 'casual' survey of the market, all the houses you would want to revisit would be sold! In a really hot market, you might have to be prepared to make an offer on the spot!

This is not 'selling hype' here. My husband and I bought our home 'on the spot'- we didn't even go back to the office: we filled out the Purchase and Sale Agreement and wrote a check on the hood of Peter's car in the driveway of the house! We got the house because we were prepared to act. If we would have waited one day- our offer would have been 4th down the list!

So when I tell you about the market and what you will need to be prepared to do- you need to understand why and what I am advising you to do. This is my market, and I am very much tuned into it. I'm like the doctor who has his finger on the pulse and thus knows the health of the patient.

Sometimes, you can take a casual approach- but I have to tell you that in the Seacoast area, don't count on that happening too often. You will save yourself a lot of anguish over missed opportunities if you know what you are looking for and are prepared to act immediately if this is necessary. Better to be over prepared than miss an opportunity. After all: we are talking about the home you plan to live in for quite awhile! When I help you find that very special place, let's do it!

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

What is a Realtor?

A Realtor is a very special designation. It indicates someone who is or has:

• Been through intensive training.
• Passed a very difficult examination.
• Constantly takes required education courses.
• Reapplies and qualifies for license renewal every 2 years.
• Been through an extensive background check and certified as bondable.
• Been accepted by the local Board of Realtors as a member.
• Invests substantial money on an annual basis to subscribe to the local MLS (Multiple Listing Service), and other fees.

You do not have to be a Realtor in order to sell real estate, but this greatly limits your ability to obtain vital information, training, contacts, etc. which Realtors have access to. If possible, buyers and sellers should seek out and utilize the services of only those real estate professionals with a Realtor designation. Realtors can hold either a salesperson's license designating them as an Agent or a license certifying them as a Broker.

An Agent needs to pass a test, but not only does the Broker have to pass a much more difficult exam but to qualify to even take this exam you must first of all have to prove you have spent 2000 hours in the real estate field under the supervision of a Broker. There are other requirements as well, but suffice it to say that you are in good hands with a Broker who has a Realtor designation! There are basically 2 types of functions or roles a Realtor can assist clients:

• Selling Broker
• Buyer's Broker

Selling Broker: Technically, a Selling Broker represents the interests of the seller and not the buyer. This is only right because it is the seller who pays a commission to the Agent for representing their property and bringing about a transaction.

This is not to say that the Agent can in anyway mislead the buyer about the property: there are very strict laws governing Agent conduct; anyone found guilty has their license taken away by the State's Real Estate Commission.

Buyer's Broker: A person who is looking to purchase property can hire an Agent to represent their interests. The Buyer's Broker works exclusively for the buyer in identifying and negotiating the purchase and it is paid a fee by the buyer for this service.

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

FSBO?

FSBO is an acronym meaning that a property is listed "For Sale By Owner". This means that the owner wants to sell the property on his own without paying a commission. This could be great for a very informed and knowledgeable buyer, but real estate law is so complex and the sums of money are so great that any mistake along the way can be very costly.

Selling a property is not as easy as just filling out a "standard" Purchase and Sale Agreement (which anyone can buy off the shelf or make up on their own). The issues are far too complex to go into in a document like this, but I would be happy to discuss this important issue with you so that you, either as a potential seller or buyer, can make an informed decision as to doing or dealing with a FSBO.

All I can do is caution you that without the services of a professional who deals with these issues daily, both seller and buyer place themselves at great risk.

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

Home Inspections

When purchasing a property, you do not have to have a home inspection done. But as a Realtor, I strongly advise you invest in this service. Let a professional certify to you that the foundation, roof, siding, leach field, boiler, etc. are all as they should be. It's peace of mind and the cost is minimal.

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

Finding an attorney

When purchasing a property, you will need to have an attorney. As a Realtor, I strongly suggest to both buyer and seller that they be represented by an attorney even if the transaction is a cash sale.

Real estate law is particularly complex and my feeling is that unless you do this on a daily basis you need the advice and protection that an attorney can provide for you.

If you do not have an attorney, I would be happy to recommend several in the area that I have worked with for years. You will be treated fairly both in service and in fees.

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top

Financing

Unless you can close your transaction with cash from the sale of a previous property, you will most likely need a reference to a local bank or mortgage company to assist you in financing.

Again, I have worked with almost every one of the mortgage specialists in the area and I know who handles which types of property the best. They all have good programs, but not all programs will be suited to your needs. I am very familiar with real estate financing not only from my own experience, but my husband used to do mortgage financing with a private mortgage bank.

We are fortunate in this area to have so many qualified lenders and financing specialists. I would be happy to recommend a few for you to investigate.

Finding a house | Making an offer | How long will it take? | What is a Realtor? | FSBO? | Home Inspections | Finding an attorney | Financing | Pat's Home Page | Top