By: Jim Hart

How much do you know about home financing? If you are planning on buying a home for the first time, you probably have a lot to learn before you are ready to plunge into home ownership. Home financing is one of the single most important and typically least understood elements of the home purchasing process.

Why is home financing so important? Two primary reasons:

1)Without financing you can’t buy a home (unless you are cash rich) and…
2) you will live with your home loan for a long-long time, well after the thrill of home ownership has subsided.

There are a wide variety of financial products (home loans) on the market today besides the traditional 15 year and 30 year fixed rate and adjustable rate mortgages (ARM’s). Other loan types include government loans like VA loans, FHA loans and community development assistance loans/grants available in some areas. Lets not forget the Jumbo loans, bridge loans, negative amortization loans, balloon loans and interest only loans to name a few. Then you have to consider whether you will borrow your home loan from a bank or a mortgage company and does the lender service the loan or is the loan sold on the secondary market? It’s’ important to know this information because home buyers (and home owners) can be surprised to discover they are sending payments to different lenders over time as their loans are sold on the market. The good old days when the S&L’s made portfolio loans are over.

And then there is the financial speak. Terms like amortization, discount points, closing costs, doc prep fees, appraisals, zoning, good faith estimates, dowry rights, truth in lending, APR, HUD, originators, brokers, secondary market, hybrids, MIP, balloons, second mortgages, carry back mortgages, etc. Even seasoned homeowners who are selling and planning to buy a home may be taken back by all the financial terminology and buzzwords associated with the lending industry as a whole. The best strategy for wading through all this technical mumbo jumbo is start gathering information well in advance of a home purchase (or refi) because nothing is worse then having to learn all this information during the heat of a real estate transaction. There can be brisk movement during a real estate deal once your offer is accepted. You don’t want to get hit with a tidal wave of information requiring your critical decision making (and your legally bound signature) when you are going to school on every issue, detail and term associated with home financing.

For most first time buyers this can be overwhelming as they are forced to rely on real estate agents, bankers and mortgage brokers for advice. Keep in mind that when you are buying real estate you are SURROUNDED by sales people with an economic incentive called commissions! Do you really want to fly by the seat of your pants and trust commission driven sales people to give you advice? This is why I constantly advise all home buyers and sellers to have an attorney BEFORE they talk to a real estate agent-or at least a source of information to guide you through the process–we are talking about a BIG business deal right?

About the Author:
Jim Hart - My E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers will help you with more information regarding this article- go to smart Books website, fill out the form requesting a copy and we’ll send it to your email address within 24 hours-absolutely free this week! Another Ezine Article Exclusive! Smart People Read Smart Books!

Jim Hart, CEO-Smart Books Publishing - http://www.smart67.com FREE PRODUCT: Article offer-per request. If you don’t like our products, send them back. Have you ever tried to send a house back?

By: Jim Hart

Thinking about buying a home? You may want to read this article. It blows me away when I think of all the homebuyers that give real estate agents large sums of money as a “good faith deposit” when they sign a purchase offer on a home. I have had clients that have given agents thousands of dollars when they make an offer on a home and it is one of the dumbest mistakes a home buyer can make! Why? Well, you have to have a very basic understanding of contract law (this is explained in detail in my report) but the quick answer goes like this: Every purchase offer is half a contract-it becomes a contract when it is accepted by the seller.

Every contract must have consideration and consideration is anything of value. Money is consideration. So when a homebuyer writes an offer and gives a good faith deposit, the good faith deposit IS the “consideration” which makes the offer a contract when accepted by the seller. In other words, the money IS what makes the purchase offer binding on a buyer when the offer is accepted by the seller and becomes a contract. And agents LOVE the fact that people put down large sums of money when they write an offer!

Why? Well, for starters it shows a serious buyer. Secondly, when a buyer gives an agent a large amount of money like this, the buyer loses temporary control of the cash and the real estate agency holds it in escrow. That gives agents control.

What most people don’t know is that one-dollar ($1.00) is consideration and can make a purchase offer a contract just as well as $10,000.00. And, when it comes to financing, large good faith deposits don’t really do anything to improve the chances of a buyer getting a home loan. You see, that large good faith deposit can be kept in YOUR pocket until you take an application on a loan. In this case, a buyer who wanted to put a large down payment on a home can pay it to the LENDER instead! Inevitably, that’s where the good faith deposit gets applied anyway…as part of the down payment on a home which is ultimately goes toward the purchase. So why give it to the real estate agent? Yet everyday people do it-they lose the control over the money with no gain whatsoever. Either you are financially qualified to borrow a home loan or not. While a large down payment can help over come funding objections, the agent plays little or no role in the financing end of a real estate transaction. If a borrower is unqualified to borrow a home loan, a very large good faith deposit won’t change that fact (.)

And buyers better stop and think about the purchase offer! Agents tend to do all the writing on the face of an offer and (seeing how it’s half a contract) that can be d.a.n.g.e.r.o.u.s! You want your attorney to review that offer before you submit it to a seller (.) Now, one of the angles you may hear is “we have to move fast on this deal before the other person buys it”. Well, that may be true BUT anytime you find yourself “moving fast” on a real estate deal (or any business deal) you are WIDE OPEN for mistakes in judgement. If you like the potential for financial pain, do it their way. If you want to protect legal and financial interests, do it my way.

Get My FREE E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers will help you with more information regarding this article-go to smart Books website and follow the simple instructions to request a copy and we’ll send it to your email address within 24 hours-absolutely free. Another Ezine Articles Exclusive!

Want some advice? If you are planning on buying a home go to my EBay Store SMART Books and More and order the book “Everything A Real Estate Agent Doesn’t Want You to Know” for $14.95. I am not trying to hype the book but You WILL save thousands of dollars and protect your legal and financial interests–guaranteed. If you don’t like the book, send it back. Ever tried to send a house back?

buy a home, and especially first time home buyers, start by looking through newspapers ads and real estate magazines before calling a real estate company and talking to a real estate agent. And that’s where the problems tend to begin. As a homebuyer you must understand that real estate agents represent sellers (they have a legal duty to represent sellers) and not buyers (.) The only exception to this rule is in the case of “buyer broker representation” which I STRONGLY advise against using because it’s basically a scam designed to squeeze money out of both ends of a real estate deal, money from buyers and money from sellers. You see, the term “caveat Emptor” means “buyer beware”. That means the duty to protect your legal and financial interests in a real estate deal falls squarely on YOUR shoulders. If you make wrong decisions, sign stupid contracts and do less than an intelligent deal-it is your fault. In my mind, the term “buyer beware” is a fancy way of saying “cheating is okay”.

It all boils down to knowledge. Real estate agents are trained in real estate principles, practices, some real estate law and some (and I mean some) financing. How much training have you had? How much do you know about real estate law? How much do you know about real estate financing? What are your financial options? Are the loans being sold to you in your best short, medium and long-range interest? These are key questions you need answered. So here’s a few tips on getting your bearings in the right direction before you do anything.

Number 1-Get the home financing together first! This is the singular most important element of a real estate deal. Why? Because after the whirlwind of emotion of your new home passes (and it will) you will have a “mortgage monkey” strapped to your back for 15 or 30 years. You want the best interest rate you can get but you also want the best loan program to meet your personal needs. There are a ton of home loans on the market; 15 and 30-year conventional loans, adjustable rate mortgages (ARMS), Government loans like FHA, VA loans and there are gimmick loans like negative amortization loans, nothing down loans, etc. The point is that lenders are in the business of selling loans- that’s right they are selling you a loan and you are paying for it in the form of closing costs and interest rates. Nobody can get this information together for you except you (.) You are the one that will live with the loan and that is why you need to get your financing together first! My report gives you the steps you need to take to seek out the right loan for YOU.

Number 2-Get an attorney specialized in real estate transactions (.) People tend to see a lawyer AFTER they have a legal problem. Be smarter than that-see an attorney first and get representation, buying a home is a big business deal right? I cannot emphasize enough the importance of having a lawyer to review your legal documents before you sign anything (.) Not to hype the report but it has some tips on this issue.

Number 3-Avoid real estate agents until you are strategically ready to talk to them. Remember; agents are trying to sell you a property-and they are not your agent-they are salespeople on a commission and they have a legal duty to not only represent the seller but to get the highest possible price on behalf of the seller. People get hurt everyday in real estate deals and don’t even know they are bleeding. Why? Lack of information.

About the Author:
Jim Hart - My E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers will help you with more information regarding this article- go to smart Books website, fill out the form requesting a copy and we’ll send it to your email address within 24 hours-absolutely free this week! Another Ezine Article Exclusive! Smart People Read Smart Books!

Jim Hart, CEO-Smart Books Publishing - http://www.smart67.com FREE PRODUCT: Article offer-per request. If you don’t like our products, send them back. Have you ever tried to send a house back?

By: Jim Hart

So you are thinking about buying a home? Typically, people who are planning to buy a home, and especially first time home buyers, start by looking through newspapers ads and real estate magazines before calling a real estate company and talking to a real estate agent. And that’s where the problems tend to begin. As a homebuyer you must understand that real estate agents represent sellers (they have a legal duty to represent sellers) and not buyers (.) The only exception to this rule is in the case of “buyer broker representation” which I STRONGLY advise against using because it’s basically a scam designed to squeeze money out of both ends of a real estate deal, money from buyers and money from sellers. You see, the term “caveat Emptor” means “buyer beware”. That means the duty to protect your legal and financial interests in a real estate deal falls squarely on YOUR shoulders. If you make wrong decisions, sign stupid contracts and do less than an intelligent deal-it is your fault. In my mind, the term “buyer beware” is a fancy way of saying “cheating is okay”.

It all boils down to knowledge. Real estate agents are trained in real estate principles, practices, some real estate law and some (and I mean some) financing. How much training have you had? How much do you know about real estate law? How much do you know about real estate financing? What are your financial options? Are the loans being sold to you in your best short, medium and long-range interest? These are key questions you need answered. So here’s a few tips on getting your bearings in the right direction before you do anything.

Number 1-Get the home financing together first! This is the singular most important element of a real estate deal. Why? Because after the whirlwind of emotion of your new home passes (and it will) you will have a “mortgage monkey” strapped to your back for 15 or 30 years. You want the best interest rate you can get but you also want the best loan program to meet your personal needs. There are a ton of home loans on the market; 15 and 30-year conventional loans, adjustable rate mortgages (ARMS), Government loans like FHA, VA loans and there are gimmick loans like negative amortization loans, nothing down loans, etc. The point is that lenders are in the business of selling loans- that’s right they are selling you a loan and you are paying for it in the form of closing costs and interest rates. Nobody can get this information together for you except you (.) You are the one that will live with the loan and that is why you need to get your financing together first! My report gives you the steps you need to take to seek out the right loan for YOU.

Number 2-Get an attorney specialized in real estate transactions (.) People tend to see a lawyer AFTER they have a legal problem. Be smarter than that-see an attorney first and get representation, buying a home is a big business deal right? I cannot emphasize enough the importance of having a lawyer to review your legal documents before you sign anything (.) Not to hype the report but it has some tips on this issue.

Number 3-Avoid real estate agents until you are strategically ready to talk to them. Remember; agents are trying to sell you a property-and they are not your agent-they are salespeople on a commission and they have a legal duty to not only represent the seller but to get the highest possible price on behalf of the seller. People get hurt everyday in real estate deals and don’t even know they are bleeding. Why? Lack of information.

About the Author:
Jim Hart - My E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers will help you with more information regarding this article- go to smart Books website, fill out the form requesting a copy and we’ll send it to your email address within 24 hours-absolutely free this week! Another Ezine Article Exclusive! Smart People Read Smart Books!

Jim Hart, CEO-Smart Books Publishing - http://www.smart67.com FREE PRODUCT: Article offer-per request. If you don’t like our products, send them back. Have you ever tried to send a house back?

By: Jim Hart

For the next four days I’m going to run a series of articles by Jim Hart called “Everything A Real Estate Agent Doesn’t Want You To Know!”. Jim Hart is a business consulant and is the author of a column called, “Money Matters”.

Enjoy!

Everything A Real Estate Agent Doesn’t Want You To Know-Part 1
By: Jim Hart

Are you planning on buying or selling a home? Maybe refinancing? Perhaps you’d just like to pick up a few tips on home buying, selling and mortgage borrowing-if so you may want keep track of Money Matters in the months ahead as I will be giving out all kinds of tips and insights as we approach the home buying-selling season. I will be discussing a wide variety of real estate and mortgage financing issues you should know (Things real estate agents don’t want you to know). Well, good agents won’t have a problem with you knowing this information but the part-timers and less ethical operators would certainly prefer you not know what I am going to share with you!

You see, buying or selling a home is the largest investment of a lifetime for most people and it is a BIG business deal…a transaction composed people, emotions, contracts and cash…all the ingredients for legal and financial pain if you don’t know what you are doing. Real estate agents earn a commission when a home is sold whether they are the listing agent, the selling agent or both. Real estate agents typically (and legally) represent sellers in a real estate transaction and not buyers. Yet, every day, homebuyers refer to the real estate agent as “my real estate agent”…they are not your real estate agent…they are the home seller’s agent and agents have a legal duty to get the best selling price for the seller. Further, anything you tell them can and probably will be used against you to extract a higher selling price out of the deal. Sellers on the other hand are often manipulated into signing long term listing contracts for up to a year by an agent who will simply throw the listing into the multiple listing service (MLS) and hope another agent sells the property for them.

For agents, the name of the game is to get listing contracts…a common slogan amongst real estate agents is: “if you don’t list, you don’t last”. Once an agent gets a listing contract from a home seller, they will get the bulk of the commission when the house is sold whether they sell it or another agent sells the home. Not many sellers know this fact and many are swooned into long term listing agreements with hopeful promise of selling their homes at the highest possible price only to find out they don’t. Agents will say and do most anything to get a listing contract shy of breaking the law. And the big question for home sellers is are you working with a part time or full time agent? What is their background in marketing and sales? Do you really want to sign a long term listing agreement with a part timer that has one toe in the tub and no business background? Were talking about a business deal right?

Whether you are buying a home or selling a home you should be clearly aware that you will enter into legally binding contracts and relying on mortgage lenders to provide financing for the project. The question then becomes; how much do you know about contract law and mortgage financing? What are the most important elements of a contract and how does that impact you as a buyer or seller? This series of articles is generally drawn from my E-Report (101 Real Estate Tips for homebuyers, sellers and money borrowers). The report is designed as a crash course to provide you the information you need to know to protect your legal and financial interests whether you are a homebuyer or seller. This series of articles will touch upon the information you should know to keep from making blatantly stupid mistakes that could hurt you legally and financially and we’ll try to have some fun in the process…

About the Author:
Jim Hart - If you would like to receive a FREE copy of my E-Report: 101 Tips For Homebuyers, Sellers And Money Borrowers, go to smart Books website, send us an email and requesting a copy and we’ll send it to your email address within 24 hours-absolutely free-Another Ezine Articles Exclusive! Don’t forget to say you saw it at Ezine! Stay tuned!

SMART BOOKS WEBSITE: http://www.smart67.com
FREE PRODUCT: Article offer-free per email request for one week.

By: Jeanette Joy Fisher

Many home sellers sign a listing agreement with an agent who makes big promises and then their home languishes on the market.

Do you know if your agent may be causing your home to go unsold? Some reasons why listing agents hold up home sales:

1. Lack of cooperation from other sales agents who dislike your listing agent. Some agents get a reputation of being difficult to work with. Ask another agent about the popularity of your listing agent.

2. Lopsided commission split. Check to see if other agents get their fair share of the sales commission. Some agents only offer discounted commissions to the selling agent who won’t show the home if they make more selling another house.

3. Busy agents neglect to hold open houses for other real estate offices. Have you had other agents preview your home? If not, ask your agent why he or she hasn’t held an open house for brokers.

4. Lack of exposure. Is your home listed correctly on the Internet? Check to see if you can find it online. Do a search for your city and home for sale to see if your listing or agent’s website pops up. Most of today’s home buyers begin their property search on the Internet. You should be able to find local multiple listings.

5. Poor advertising methods. Did your agent create a sales flyer that showcases your property or a sales flyer that showcases your agent? Does your agent advertise your particular property every week or just rely on generic office ads? Did your property get a photo ad in the local home buyer magazine? Another great sales tool used by aggressive listing agents, mailings to your neighborhood homeowners, generates interest from neighbors’ friends and family.

If you feel that you’re wasting your valuable time with an agent who doesn’t perform, ask for a cancellation. If your agent won’t allow a cancellation without receiving compensation for a job not done, insist daily that he or she start performing. If you become the disliked, difficult home seller, your agent will cancel you.

About the Author:
Jeanette Fisher teaches home sellers five ways to sell their homes for top dollar - fast. For free home selling Teleseminar, ebook, and information on home staging with Design Psychology visit http://sellfast.info

By: Jim Hart

The home buying and selling season is fast approaching and I will be giving out a series of tips for home buyers and sellers in the weeks and months ahead-tips that will help you protect your legal and financial interests. Buying or selling a home is a BIG business deal composed of people, emotions, contracts and cash-all the ingredients for legal and financial pain if you don’t know what you are doing and most people don’t. When you are doing a real estate deal, you are surrounded by sales people who have an economic interest (called a commission check) to manipulate you into spending as much of your hard earned cash as possible. Keep your eyes on my column over the next weeks and months, especially of you are a home buyer, because real estate agents legally represent sellers and NOT buyers (.)

Here’s a few basic tips I like to refer to as the 10 commandments for home buyers and sellers.

1. BUYERS: real estate agents legally represent sellers, NOT buyers…their job is to get the highest possible price for the property. They are not “your agent” and what you tell them may be used against you. Learn how to take control of the relationship.

2. BUYERS: avoid giving more than $100.00 when you write a purchase offer on a home. In this way, if you cannot complete a transaction you have less money at risk. Large good faith deposits do NOT guarantee you will get financing. Why risk your money?

3. BUYERS: arrange your home financing first, BEFORE you look for a home. Doing so gives you the same power as a cash-buyer. Our home buyer products show you how to use your pre-qualification to SAVE THOUSANDS when buying a home.

4. BUYERS: When you sign a purchase offer, make sure that you write above your signature the clause “subject to buyer’s attorney’s approval”. These 5-magic words can get you out of a bad deal if your attorney does not approve.

5. BUYERS: remember; a purchase offer becomes a legally binding contract when accepted by the seller. Fully understand the legal details before signing

6. SELLERS: avoid signing long-term listing agreements with any real estate agent. Keep the listing contracts limited to 90-day increments so that you can review performance.

7. SELLERS: Avoid signing a listing agreement with part time agents. Use only full time agents so that you increase your chances for more professional representation.

8. SELLERS: Interview multiple agents before signing a listing contract. Make sure that you write above your signature the clause “subject to seller’s attorney’s approval”. These 5-magic words can get you out of a bad listing contract if your attorney does not approve.

9. SELLERS: avoid signing purchase offers with unqualified buyers. Doing so removes your property from the market while waiting to find out you are dealing with a dud.

10. SELLERS: Make sure your agent presents you with an itemized marketing plan detailing the selling activities that will be performed during the listing agreement.

Planning on buying or selling a home? May I humbly suggest you visit our website? Smart Books Publishing specializes in representing consumers, people like you, who are planning on doing a real estate or business deal and you should know that this resource is available to you. Why? Because people are like lambs among wolves when buying or selling a home! Agents are trained in real estate principals, practices and some law. How much training have you had? Ever heard the term: caveat emptor? That’s legal jargon for “buyer beware” which is a fancy legal way of saying cheating is okay. The agents are on commission, the mortgage brokers on are commission and it’s a “good old boys club” which you are NOT a part of. Visit the site and get smart fast!

My E-Report: 101 Tips For Home buyers, Sellers And Money Borrowers will help you with more information regarding this article-go to smart Books website, send us an email requesting a copy and we’ll send it to your email address within 24 hours-absolutely free! (limited to first 20 responders-make sure you say you saw it on Ezine!). Another Ezine Exclusive! Until next time…
Jim Hart - EzineArticles Expert Author

About the Author:
NAME: Jim Hart TITLE: CEO Smart Books Publishing
SMART BOOKS WEBSITE: http://www.smart67.com
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PRODUCT: Consumer Books, Kits & Special E-Reports in the areas of Real Estate, Business and Personal Finance.
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Selling real estate over the internet may sound like an awkward idea. However, the exposure the real estate receives over such a widespread media like the internet is every realtor’s dream.

Can eBay be used to market real estate? The answer is a resounding ‘yes!’. So be sure you mention this medium to your realtor.

eBay provides functionality that is clearly adaptable to the needs of most realtors. It provides a widespread medium of advertisement for the real estate. It is also a relatively inexpensive method of advertising.

One of the best things about selling real estate on eBay is that it “markets” to many areas around the world, not just a local area. Advertising on eBay makes the property available to more than 100 million potential buyers, including those from other countries. Visitors can browse through the property details 24 hours a day, 7 days a week – all without the realtor having to explain the details about the property to every single prospect wanting information.

Advertising Your Real Estate on eBay

When one has a house or other real estate to sell, he or she may list it for auction on the eBay Real Estate site. This is found at http://www.pages.ebay.com/realestate.

There are many different ways to present the property for sale on eBay. If the realtor seeks to sell the estate at a fixed price instead of having the property go through an auction, he may request eBay to display a real estate listing in a format much like a local paper.

eBay’s Real Estate page has three selling formats. These are the auction, fixed price selling, and the traditional real estate listing.

For each of these selling formats, the “user” furnishes additional information regarding his or her property. Details may include lot size, number of bedrooms, number of bathrooms, type of property, year built, and other information. The auction listing period must also be specified, where the choices range from 1-, 3-, 5-, 7-, 10-, or 30-days, or a 30- or 90-day non-auction listing.

The eBay Real Estate website charges two types of fees for listing a property. There is a simple fee for listing the property and also a fee is based on the final amount of the property sale. The charge for a 1-, 3-, 5-, 7-, or 10-day auction listing is typically around $100. A 30-day auction listings cost about $150. A non-auction listing costs $150 for 30-day listing, and about $300 for a 90-day listing.

Fees for Timeshare property and land are usually slightly lower. The final fee amount for Timeshares and land is generally about $35.

Selling real estate on eBay is growing in popularity as the internet stretches it’s outreach to more countries. Although nothing beats direct and personal inspection of property, the convenience of having eBay connect seller and potential buyer is definitely appreciated.

Yes it is exciting to go on the Final Walk-Through so let us look at a few points that you want to make sure you pay attention to.

Be sure that:

* repairs you’ve requested have been made. Obtain copies of paid bills and any related warranties.
* all items that were included in the sale price—draperies, lighting fixtures—are still there.
* screens and storm windows are in place or stored.
* all appliances are operating.
* intercom, doorbell, and alarm are operational. Make sure any remotes, codes, etc are available for when you move in along with the alarm manual so you can reprogram if necessary.
* hot water heater is working.
* HVAC is working.
* no plants or shrubs have been removed from the yard.
* garage door opener and other remotes are available.
* instruction books and warranties on appliances and fixtures are there.
* all personal items of the sellers and all debris have been removed. Don’t forget to check the attic! This is the most commonly overlooked place in a home.

Once you have reached the end, make sure that you have a great time during this process. Remember, when you are being walked through the process and are confident in your Realtor you will have a great experience, no matter what happened along the way.

This article is brought to you by Sabrina Baker, Your Dedicated Realtor of Keller Williams Realty Southeast Valley. Direct Line 480-332-6957. Provided for your best interest, more articles are available at www.sabrinabaker.com.

Admit it… for years, or even decades – it has truly been your home sweet home. And now, you refer to it as a plain ‘property’ to sell.

Selling a home need not be a bitter encounter. We should healthily treat it as a source of marketable commodity, a money-generating property, a real estate. We should see our property as not just a plain house or a shelter, but as a fortress! In selling a home, we should also let other people (especially prospective buyers) get the same home sweet home experience we had.

One good move in selling a home is to first cut off your personal attachment from it. Have it ready for others to see and in time, they’ll consider buying it.

People usually are not looking for big houses. They might consider the size more important if they have a large family, but most probably they’ll look for the comfort and homey feeling it brings. In selling a home, remember to restore its best features – just like the way it looked when you first stepped in.

Remove all posters and frames of photos and de-personalize before selling a home and presenting it to prospective buyers. Make sure you have a final walkthrough to see if all personal memorabilia has been removed. Then try to see the parts of your home that need some re-conditioning.

Removing all the clutter is also a major step in selling a home. Sadly though, this part is also the hardest to do for homeowners as they have become emotionally attached to it. On the part of the buyer, seeing clutter is a very negative thing that will drive them away from the idea of buying. In selling a home, highlight all spacious area of the house and clear away all visible clutter.

In selling a home, you will most likely meet two types of realtors. Realtor Type #1 will present and come up with prices much lower than what you’ve estimated and will strongly strengthen their statements with sales records of homes similar to yours. Then here comes Realtor Type #2 who perfectly agrees and matches with how much value you are expecting to get, or sometimes they may even declare a higher value. Study their Competitive Market Analysis before you decide.

With the few tips provided in this article you CAN get started. Review your plans, pair up with the right realtor, and in just a short time you will feel much more comfortable in buying and selling real estate.

If you are considering buying a home or have spent many years saving in preparation of buying a home, the questions and process involved in buying a home can be extremely stressful. As exciting as it is to begin looking for your new home, there are many unexpected costs and details to be considered before contacting a real estate agent. Home buyers should be aware of every aspect involved in purchasing a home before they take that big step towards home ownership.

You will want to get the most value possible for your money. You should be aware of every detail in regard to the home you wish to purchase. Home inspections can reveal many hidden flaws and problems that could cost you thousands of dollars in repairs. Be aware of your right to a home inspection and contact a professional, licensed home inspector.

Compare the mortgage terms and interest rates offered by various mortgage lenders. Even a slight difference in your interest rate can add up to thousands of dollars over the length of your mortgage. A pre-approval from the lender of your choice will not only give you added confidence when shopping for a new home, but could give you added leverage when bargaining with the seller. A pre-approval will let you know the exact amount you are approved for and will save you time after your offer has been accepted by the seller.

Using a buyer agent is an excellent way to help protect your interests when shopping for a home. A buyer agent will be responsible for helping you get the best deal possible on your new home. While shopping for a home, be aware that certain features can adversely affect the resale value of the home. Detached garages and swimming pools can actually lessen the value of the property. Protect your investment by educating yourself on the home buying process and the way property is appraised.

You can make the home buying process fast and painless if you take some precautions along the way. Choose your lender carefully. Interest rates and closing costs vary from lender to lender and the difference could mean thousands of dollars over time. There are numerous flexible loan programs available. Finding the loan that will best suit your long term needs will be of great value to you when it is time to sell the home. Just a half point difference in your interest rate will translate into a lot of money over the years.

Keep in mind that there are additional costs involved in purchasing a home. Homeowners association fees, furniture, annual heating and cooling costs, and homeowners insurance need to be considered when planning to purchase a new home. Buying a new home does not have to be stressful and frustrating. Make sure you know the facts and your home buying experience will be quick and painless.

A home can be a person’s best asset. One’s equity in his home is not to be overlooked since it will help in meeting major needs now and in the future. So there’s no reason for a person to entrust this asset to just any agent. You should always seek the very best service from your real estate agent.

Finding a top real estate agent will not only make most transactions flow smoothly for you, a good agent can also save you considerable money. The following pointers will help you single out an exceptional real estate agent and may prove to be indispensable steps for a homeowner.

1. Collect names and contact numbers.

Referrals, classified ads and online sources are what most people rely on when it comes to searching for services. It’s easier to do a background check with referrals but if you want more choices, paper and online ads have a lot more to offer.

2. Interview like a pro.

After scheduling appointments with at least three or more real estate agents, prime yourself for an interview. A list of questions will be very useful. Include queries on the marketing technique of the agent, follow-up method and number of active listings, sales record and the option for cancellation of your listing. Asking for documents and other proof of his credibility is also advised.

3. Recognize if the working relationship with your agent is a “match”.

After interviewing your perspective agent, it’s time to ask yourself who you think suits your taste. Who seems to be the most sincere? Who do you think will respect your decisions best? Oftentimes, your “gut feel” will aid in your decision. Consulting other experts in the real estate field can also help. Make sure that you are not swayed by persuasive sales statements and tactics. Always prioritize your needs when contemplating which agent to choose.

4. Never be in a rush.

Selecting an agent is not like picking an apple from a fruit stand. It takes time, lots of thinking and some preliminary work. If you happen to be one of the few people who find the “perfect” real estate agent, consider yourself fortunate. Now is the time when the real work begins of communicating the details of your marketing needs to your agent. But no matter how much work is involved, the whole process will work much more efficiently if you have selected the right agent!

I was looking for articles to post on my Gift Basket Wholesale Supply site, that’s my main business, we sell gift basket supplies, and I ran across this article that has great info to help you choose a realtor. Enjoy!

7 Questions To Test The Loyalty Of A Real Estate Agent
by Noel Peebles

Buying or selling a home can be especially difficult when dealing with an incompetent or disloyal real estate agent. Now, don’t get me wrong, I’m not out to knock realtors.

I’m the first to admit that many agents are excellent and worth their weight in gold. However, most real estate agents fall into one of three categories: good, average or poor.

Then, there is that worrying small percentage of agents who are downright incompetent. Every industry is inflicted with this type of person and I suspect the real estate industry has more than its fair share of incompetent agents.

The truth is; a good and a bad agent have one thing in common – their job is to be a “deal-maker.” But, be warned - some real estate agents will perform all sorts of tricks to stitch up a deal. This is fine so long as they are not “stitching up” the buyer or the seller. There’s nothing wrong with enthusiasm to pull a deal together - it is to be applauded. However, a good agent needs to remain professional and ethical at all times throughout the selling process.

Unfortunately, most homeowner’s are reasonably inexperienced when it comes to buying or selling a property. They rely greatly on the “perceived” ability of the agent they are dealing with. In reality, most homeowner’s are “fair game” for a disloyal, dishonest, or incompetent agent!

In any negotiation, WIN – WIN deals are the best. But, sometimes when buying or selling a house, things happen to benefit just one party… the buyer, the seller or possibly just the real estate agent. Therein lies the danger. Who is the real estate agent really working for? Where do his or her true loyalties lie? With the seller, the buyer or themselves?

These 7 questions will help you decide who the agent is really working for. Visit any open home and test these questions out on an agent. Good or bad, the answers will reveal something about that agent and his or her ability and true loyalties. If the real estate agent betrays the seller, they will betray you as well. If they defend the seller, it’s likely they will defend you too. Ask the real estate agent these 7 questions:

1. How much will the seller take? You may learn the bottom price that the seller will accept.

2. How much do you think the home will sell for? You may discover that the agent has an opinion less than the asking price.

3. When does the seller need to move out? The agent may reveal an urgent deadline. This could be an advantage in negotiating a lower price.

4. Why is the homeowner selling? The agents may reveal a confidential reason for selling.

5. How long has the property been on the market? The agent may reveal if, or why, the property has been difficult to sell.

6. Who priced the property? The agent may be quick to deny any involvement and in some cases may blame the seller for being greedy.

7. What other homes are there in competition to this property? This is particularly useful information, so long as the agent gives you an honest answer. Ask the agent to show you some of these competing properties.

These questions are simple and not hard to ask. However, failing to ask these types of questions can put a buyer (or seller) at the mercy of a disloyal, dishonest, or incompetent agent. Buying or selling a home is a big investment for most people; so it is well worth the effort to select an agent you can trust and have confidence in.

About the Author: Home Selling Secrets Revealed. Tips and ideas on how to get top price selling your home, how to choose real estate agents, or advertise your house for sale privately.

http://www.marketleadersltd.com
http://www.instantsellhome.com
http://www.homebizideasgoldmine.com
http://www.instantsellbusiness.com

Noel Peebles has a wealth of experience including brand marketing with a major advertising agency, and as Director and Strategy Advisor with an internationally aligned marketing communications company. His skills include television and radio production, news-media and catalogue advertising, direct response marketing, research, media negotiation, sponsorship development, and public relations and franchise marketing consultancy. Noel is results driven and has built a reputation as a clear, thorough, strategic thinker. Over the years Noel has bought, developed and sold several businesses including fifteen years of “hands on” experience directing his own “highly successful” retail businesses. He now runs his own direct marketing company supplying marketing solutions for small businesses. Noel also operates a public self-storage complex best described as a “turn-key operation.” And, he’s travelled extensively to over forty countries.

Our realtor was here at 9:00 a.m. sharp. Brent and I had gotten up early and gone over the contract, we knew exactly what we needed to ask. It was as easy as filling in a couple of blanks that we had questions about and signing the bottom. The contract was signed and our house was listed. She put up the sign as she was leaving ~ it looks strange in our front yard!

We had already measured the rooms because we had to figure out how much to offer as an allowance for new carpet. But we still needed to take picutures of each room, we told our realtor we’d do it. I’m a graphic designer and experienced with Photoshop, so even if the lighting is bad, no big deal, I can fix it. They turned out beautiful. This afternoon the realtor sent me a copy of the MLS listing to proof, I made corrections and we’re now listed in the MLS, we could actually have “lookers” as soon as tomorrow! I hope we do get some soon.

We ended up listing the house for $199,999.00, I just figured that was the best price. That puts us at $75.25 per sq ft. If we went one cent higher to $200k, I just don’t think the people looking at the $200-$210 price range would be interested. So, we’ll start at the $199k mark. There’s one other house on our street that’s for sale, they just reduced their price from $194,500 to $189,500 but it’s 366 sq ft smaller than our house, their sq ft price is at $82.92. So, we’re good there. There is however, one house in the neighborhood that’s going to be a problem, it’s on the other side of the neighborhood and is only about 100 sq ft less than our house. It’s been on the market for some time and is empty. They just dropped their price to $169,990 or $67.29 per sq ft. That’s sooooo low, it scared me, we can’t even afford to sell our house if we have to go that low. So I asked our realtor if she could take us over to look at it.

No problem going to see the house. We looked at the MLS listing, it said new carpet was only 6 months old and new paint inside. BULL!!!! That carpet is NOT 6 months old and the paint isn’t new either, not to mention the paint job was awful!! They got paint all over the wood cabinets and bannister, they even got colored paint on the white ceiling. I hope they plan to come back and repaint the ceilings! The best part was the master bath, they have the same glass shower we have but the glass isn’t clear, it’s all cloudy with hard water stains ~ ours is crystal clear, the realtor said she thought it looked new.

Anyway, they advertised this “cheap” priced house as “like new” but it’s nowhere near “like new”. Hopefully, the people who look at it get suspicious, if they lie in the MLS listing maybe there’s something they are trying to hide. Who knows, but if it were me, I’d think hard about spending $30k more for our house with that one in the same neighborhood. We’ll just have to see how it goes.

Here are our pics:

Front View

Pool

Den

Kitchen and Breakfast Area

Entry Way and Living Area

Master Bedroom

Master Bath

Master Bath

Bedroom Used As A TV Room

Brittany’s Bedroom

Hall Bath

Well, it looks like we’re at a point where we can go ahead and list the house. By no means are we finished with everything that needs to be done, but if we keep going we’re going to lose the “hot” selling season. So, we’re finished with the big things, now we’ll just go ahead and get the house on the market and keep fixing things up along the way.

I made an appointment with our realtor for Friday morning at 9:00 a.m.. Today I’m just going to clean everything and get it looking good. I still need to clean the carpet in my office, the rolling chairs have beat it to death. Brent’s going to paint a second coat in the little toilet room that the painter missed when he was here.

Things we still need to do:

Brent and I also decided how much we would give as an allowance for repairs that we can’t afford to make, here’s the breakdown:

If we could get all that done, the house would be perfect, but we’re just going to go ahead as is. I’ll let you know how things go.

We met with our realtor last Wednesday night, it was a really good meeting. She had tons of info about the market in our area and taught a lot of things we didn’t know.

First, we looked at our market area and houses that had sold in the last six months. It appeared that around $80 a square foot is the going rate. There’s a house for sale just a few houses down from us that’s listed for $85 a square foot. If we use the $80 amount, at 2624 sq. ft, that would price us at $210,000.

She explained that people in the market for a home look in increments of $10K. Example, they’ll tell their realtor they want to see houses that are in the $190s or between $200 and $210. She said there are two schools of thought, you can either price your house to be just inside one of those markers, like $199,500 or you can go ahead and price at $200,000 and be on the bottom end of the range. She prefers the low-end of the range, it seems to the buyer that they are getting more for their money. And they can also make offers that are in a range that is lower than they expected, making them feel like they are really getting a great deal. We liked her strategy, I think we’re going to go with that, the low-end of the range.

She’s going to do some checking on houses that sold in the area that is zoned to the same high school we go to. That will tell her a little more about our neighborhood, but we think we’re going to list the house for $210,000. That’s a lot more than we thought we’d be able to get and we’re really happy about that.

She also said she was going to run a CLUE report. Apparently that’s a report that shows any insurance claims you’ve had in the last three years. We did have a claim, we had some water damage in our bedroom where the roof leaked. We got about $2700 to make the repair, instead we repaired it ourselves and replaced the roof. It didn’t cost us anywhere near $2700 to make the repair, so we saved a lot of money. Anyway, she said that would be something we would have to disclose to portential buyers and that’s fine, it’s repaired and we did a nice job.

We told her we needed time to have a garage sale and clear out some of our junk. We also need to paint the ceiling in our kitchen and den area, one of our bedrooms and our master bath. We decided we’d probably sign the contract around May 15th.

When Brent and I finally decided to sell the house, the first thing we needed to do was figure out HOW we wanted to sell it. Should we use a realtor? Should we try doing it ourselves? Should we use a company like ForSaleBuyOwner.com?

With realtor fees being 6%, and figuring our house would sell for around $175,000, the realtor fees would run a whooping $10,500!! Wow! It sure would be nice to put that money in our pockets.

But we don’t know what to do…or how to sell a house. I guess that’s what ForSaleBuyOwner does for you, they sell you information and products to help you sell your own house. But in the end we decided we were too naive, and just felt that a realtor could sell it much quicker than we could. And heaven knows, we need to sell quickly (more about that in the next post). So we made an appointment with a realtor and met with her last week, she was her three hours ~ but we learned A LOT (more on that in an upcoming post as well)!!