Buyer Representation - Is it for you?

Do you need the help of an Accredited Buyer Representative?

You bet! When you work with a real estate professional who is 100% loyal and completely committed to you, chances are that the entire home buying process will go smoothly, with more satisfaction.

OK. Exactly what is an Accredited Buyer Representative?

When you choose a Buyer Representatives who displays the ABR designation, you can be sure your agent has attended an intense course of study specific to representing buyers, passed an exam and completed a large number of buyer client transactions. Your Buyer Agent will work solely for you and have no legal or other responsibilities to the seller or his agent. You will have the advantage of personal representation, independent counseling, loyalty, confidentiality and trust. On the other hand, a seller’s agent has certain fiduciary responsibilities to others and may offer only limited assistance in presenting your offer, negotiating, and closing the transaction.

Can a Buyer Representative show us the same properties?

Yes, your Buyer Representative can show you every home listed in the Realtor’s® Multiple Listing Service plus any bank owned, HUD listing, or for sale by owner properties.  Additionally, your Buyer Representative can show you new and unlisted homes.

Will a Buyer Representative disclose more information to us?

Yes indeed.  Because a Buyer Representative’s fiduciary responsibility is to YOU, your buyer agent can be more forthcoming with any possible negative aspects about properties you are investigating for purchase.

Does a Buyer Representative make decisions for us?

No, as your personal ally, advocating your best interests, the buyer agent is obligated to provide you with maximum information about each step of the buying process.  That means disclosing specifics about location, property values, offering price, negotiations, counter offers, contingencies, financing, and the entire closing process.  Armed with such vital and detailed information, you’ll be thoroughly prepared to make decisions that are right for you and your family.

What about negotiating the details?

First your buyer agent is fully qualified and highly skilled in the back and forth negotiations and financing queries that precede the closing of most real estate transactions.  Second, your buyer representative is also experienced and committed to helping protect your best interests in the purchase.  Providing representation and support to you is a powerful combination to make your purchase as effortless as possible.

What about confidentiality?

Your Buyer Representative is legally obligated to you, and will maintain absolute privacy with regard to financial and personal information.  That is another important benefit of working closely with a qualified Buyer Representative.

A few more questions?

As a long time accredited Buyer Representative, Carollee Hayward has the answers about Buyer Representation.  You can be sure your questions will be answered fully.  Carollee wants her buyers to be so pleased with her service that they not only recommend her to family and friends, but call her when they are ready to move again. 

Tips for First-Time Homebuyers

  • Be realistic - there is no perfect home
  • Do your homework before you start to look - prioritize your wants
  • Get your finances in order
  • Talk to a lender and get pre-qualified
  • Don’t ask too many people for advice - they will drive you crazy
  • What is your time-line - when is your lease up?
  • This is your first home not necessarily the home for all time
  • Insist on a home inspection - see if the seller will give you a warranty policy
  • Hire a buyer representative who is trained to represent you - their fee is usually paid by the seller
  • Know your budget

The Reality of Home Inspections

The job description of a home inspector is someone who “discovers problems in a home and tells the buyer about them.”  But what exactly is a problem?  The common assumption is that it is something that needs to be solved and in some cases that is true.  More than 60 percent of previously owned homes on the market today need some repair or improvement.  

Home Inspectors are now licensed in New Hampshire and you want to be sure that the person you choose is licensed. It is their job to make sure that you know what you are buying.  They are not there to provide you with a laundry list of improvements or updates for the seller to do.        

Some “major” defects that should cause a buyer concern are:
  • Cracked heat exchanger
  • Failing air-conditioning compressor
  • Radon air and/or water without mitigation
  • Failed septic system or well
  • Defective roofing
  • Horizontal foundation cracks
  • Undersized electrical system
  • Chimney settling or separation
  • Mold infestation in attic or cellar
  • Water penetration in cellar or attic

These problems can be repaired.  However, the cost would be considered “major” or roughly more than $1000.00.  Your options depend on the wording of your sales agreement, but generally you can ask the seller to mitigate or compensate you for all or some of the cost to correct the defect or you could back out of the contract.  

Buyers, especially first time buyers, can be confused by items in the home that “are at the end of their useful life”, but are working as to their intent.  As an example, a perfectly good hot water heater that is more than 7 to 8 years old will generally be classified as being at the end of its probable life.  So what is a buyer to do?  The seller will rightly say that the hot water heater is fine and works exactly as it is suppose to do and will probably do so for many years.  A buyer should look at these “grey” items as something to be watched that will probably need attention or replacement in the future.

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