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Smart Buyers Today Never Buy A Home Alone!

How To Save Thousands In Interest And Taxes!

Avoiding Costly Mistakes!  

Why do I need a Buyer's Agent?
Buying a home is probably the most important purchase you'll ever make. Do you want to "go it alone"? What possible advantage is there to "go it alone"?

Until a few years ago, home buyers had no choice. They decided on a home and negotiated the contract without representation.

Traditionally, all residential real estate agents represented the seller. That was true of the listing agent, as well as the agent who found the buyer. The agent who found the buyer the "right home" was actually working for the seller as a "subagent" of the listing agent. Under that traditional system, all agents were legally bound to represent the seller and the buyer had no representation.

Now buyers have a choice.
Smart buyers today can receive undivided confidential representation by choosing a "Buyer's Agent." In fact, 71% of homebuyers surveyed in a recent Gallup poll said they would use a "Buyer's Agent" the next time they purchased.

Now you, like the seller, can have someone on your side looking after your best interest.

How can a Buyer's Agent help me?
A Buyer's Agent usually owes certain duties to their home buyer, such as care, confidentiality, full disclosure and accurate accounting. These responsibilities are defined by state laws, the Realtors Code Of Ethics, general principles of agency and court decisions.

That's the legal definition. But what does a Buyer's Agent actually do for the home buyer? Like other agents, a Buyer's Agent will show the buyer available homes, point out the property's features, provide financing information and submit the offer to purchase.
But that's not all. As your representative, a Buyer's Agent will share valuable and essential information with you if the agent knows it, such as:

* Whether the seller would accept a lower price.
* The seller's reason for selling and timetable.
* How long the home has been on the market.
* Previous offers and counteroffers for the
   property.    
* Strengths and weaknesses of the property.

Most important for many buyers, you can ask a Buyer's Agent for advice and assistance in setting your offering price and structuring the other terms of your offer. What's more, you'll have peace of mind knowing an advocate is working on your behalf to help you buy the home you want and buy it at the right price.

Who needs a Buyer's Agent?
If you want to make sure you buy smart, you need a Buyer's Agent. If you're a first-time buyer, if your relocating or unfamiliar with the local market, if you're buying for investment and want negotiating help, or if you need to purchase anonymously, you'll be best served by a Buyer's Agent who puts your interests first.

Also, if the real estate professional helping you find a home is a relative, close friend, or business associate or you previously were the agent's home-selling client, chances are you'd expect the agent to represent your interests and should establish a buyer agency relationship. Or, if you just want to get the best value in a property and an agent, you owe it to yourself to be the most knowledgeable buyer you can be.

What will a Buyer's Agent cost me?
Perhaps the right question is, "What will it cost me if I don't use a Buyer's Agent?" Purchasing a home without representation is possibly the biggest financial mistake you can make.

A Buyer's Agent can guide you each step of the way to prevent costly errors. Failure to find out about defects in the property or the actual value of the property can be an expensive mistake. Failure to negotiate a contract that works for you can be a costly mistake. You will receive advice and assistance in selecting the best property and determining an offering price when you work with a Buyer's Agent.

Who pays the Buyer's Agent fee?
That depends. Surveys show in most instances Buyer's Agents are paid like seller's subagents; that is , Buyer's Agents generally receive a share of the sales commission built into the list price. Many listing agreements between the seller and the sellers agent indicate whether the commission will be split between the seller's agent and a buyer's agent. That's because most sellers are prepared to pay a commission simply to get their home sold. They aren't concerned whether it's a Buyer's Agent or a subagent that shares the commission.
Remember, the question you really need to ask yourself is: "Can I afford to buy a home without a Buyer's Agent?" For most home buyers today, the answer is "NO!"

The Bottom Line
If you want an agent to fully represent your best interest, if you want help evaluating a property, if you want someone to negotiate to get you the best price and the best terms, it you want to purchase a home in what's becoming the most popular way to buy, you'll want to enlist the aid of a Buyer's Agent.

Save Thousands on Interest and Taxes!
Buying a home is the best financial investment that most people will ever make.   You'll not only save on taxes because your home will give you a great tax break on the interest you pay on your mortgage, you'll also save on interest payments by taking advantage of little-known differences among mortgage plans.

Two ways to save!
The below examples show savings with a $100,000 loan for a 30 year term with a fixed interest rate of 8%.

Save big with a 15 year mortgage.
With a 30 year mortgage on the $100,000 loan above you will pay $164,149 in interest if the loan goes full term.  With the same loan over 15 years you will save $92,133 in interest, and even more after tax deductions!  You can also usually get a lower interest rate with a shorter term loan increasing your savings even more.  A 15 year loan at 8% would have a monthly payment of $955.66, principal and interest.  A 30 year loan would have a payment of $733.77.

Make 13 payments per year.
If qualifying for a 15 year mortgage is a problem you can still save $44,160 in interest and retire your mortgage in a little over 23 years by making a 13th payment each year.  Don't forget there are two ways to apply the 13th payment:  One is to add an amount each month equal to 1/12 of your monthly principal and interest payment. (About $61.)  Another way is to simply make one extra payment at the end of the year.
The 13th payment can work just as well with a 15 year loan.  You will save $10,330 in interest and retire your loan almost two years ahead of schedule.

Avoiding Common Mistakes.
The costly mistakes listed below are just a few of the pitfalls waiting for the buyer who isn't prepared.  Relax, we can help you avoid these and many other common, but costly mistakes.

1. Picking the wrong house.  Too big, too small for future needs.  Too far from work, or needs to many repairs that you are not prepared to do.

2. Title Trouble.  Last minute title searches may reveal encumbrances.

3. Bidding without knowing the market.  Ask us for a comparative market analysis on any property before making an offer.

4. Repairs not made.  The seller has failed to make all the required repairs on time.

5. Bad survey.  The property survey may show the boundaries are different from what you expected, or was shown on the property plat.

6. Hidden Junk Fees.  Some lenders add questionable charges at closing.  They have many different names, buy there all designed to do one thing:  Take more of your money.

7. Pre-Paids.  Items such as real estate taxes and homeowner association dues are pro-rated at settlement.  Others, like hazard insurance and taxes have to be paid ahead a few months.  

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