RE/MAX Executive Realty



Posted by RE/MAX Executive Realty on 9/27/2020

Image by mohamed Hassan from Pixabay

Once you decide you’re in the market for a new home, one of the first decisions you’ll make is whether you should hire a real estate agent to shop for a house or go out your own. While buying a new home without a professional representative is possible, there is no disadvantage to working with one, here’s why.

It Doesn’t Cost You Anything

Generally, the seller pays the commission fees to any agents representing both sides of the sale. From a buyer’s perspective, they really have nothing to lose by working with an agent since they won’t have to pay any out-of-pocket costs.

Additionally, REALTORS® are members of the National Association of REALTORS® (NAR), which means they are bound to adhere to a specific code of ethics. This means you’ll have a representative who has pledged to abide by this code and approach every transaction honestly.

Bring Expertise to the House-Hunting Process

As a buyer, unless you’re fully versed in the finer points associated with real estate purchases, along with a certain level of legal expertise in contractual law, you’re better protected if you work with a professional agent. Agents are well-versed in the most up-to-date information associated with the housing market. Skills trained agents bring to the house-hunting process include:

  • Understanding of all the variables associated with real estate purchases.
  • Strong familiarity with regions, towns, and specific neighborhoods.
  • Ability to instinctively know if and when homes are over or under-priced.
  • Access to “pocket listings” not available to the open market or even to a large number of agents.
  • Keen ability to pinpoint a home’s potential problems or flaws not visible to the average buyer.
  • Essentially, working with an experienced and licensed professional means you’ll have someone on your side who can do the bulk of the leg work while helping you find the house of your dreams.

    Strong Knowledge in the Bidding Process

    Investing in a major purchase, such as a home, usually comes with some stresses, along with a few bumps along the road. Once you reach the negotiation and bidding stage, your agent can ensure these go as smoothly as possible. They bring many valuable attributes to the table when it comes to sealing a deal.

  • Ability to share strong negotiation techniques once a house is found (purchase price, closing costs, repairs, etc.).
  • Thorough knowledge in appraisals, title searches and inspections.
  • Skilled in navigating the burdensome paperwork associated with real estate purchases.
  • Able to quickly identify any potential problems that might affect or delay the closing process.
  • Buying or selling a home can be an emotional process. An agent can make sure negotiations are conducted with a levelheaded approach to make certain a fair deal is made.

    In addition to the above reasons, it’s important to remember, your real estate agent is always on your side. They can provide you with both guidance and objectivity as you seek to find your new home.




    Categories: Uncategorized  


    Posted by RE/MAX Executive Realty on 8/23/2020

    Photo by Vincent Rivaud from Pexels

    When you buy a luxury home, you have several options when it comes to paying for the home. While some luxury buyers invest fully in the home and purchase outright, most find that opting for a mortgage of some type keeps options open and reserves capital for other things. Mortgages can be used for high end homes, but not all products are available -- or useful -- for this luxury space. Whether you are buying or selling, knowing what to expect when it comes to financing can help you strike the perfect deal. 

     Conventional Mortgages

    Depending on where you live and the cost of the high end home, a conventional mortgage could be all you need. In parts of the country where a huge home in pristine condition still falls within the guidelines of a complying mortgage, this may be your best option. While it may not always work for you, exploring the conventional financing options is an ideal first step. 

    Conventional loans are conforming loans – that fall within a specific set of guidelines. You can use a conventional loan for your own residence or for a vacation or investment home. Opting for this type of mortgage could result in lower costs to you (if you have at least 20% equity, you can avoid PMI). If the mortgage for your prospective home is under the limit of $453,100, then you can choose a conventional loan for your home.

    That $453,100 limit is for mortgages in most areas, but a few select zip codes in the US allow for an even larger limit. In these high end locations, the limit for a conventional loan is much higher: $679,650. These limits are not the cost of the home itself, but the amount that you can borrow and still qualify for the conventional, conforming loan.

    Jumbo Loans

    When a conventional loan isn't quite right, or the loan amount for the home in question is over the stated conventional limits of $453 or $679K, then a jumbo loan will work best. These loans are designed for expensive, high end homes and properties and may have more stringent requirements when it comes to down payment amounts and the assets that need to remain on hand after the home purchase.

    Aside from the differences in the amount of the loan, a jumbo loan works in a way that is very similar to a conventional loan. Expect to go through an underwriting process, to supply proof of income and to shop around for the best possible rates when you choose this option. 

    No matter what product you choose, expect a luxury home mortgage to follow similar steps to a conventional one. Depending on the amount borrowed and the buyer's financial health, the process could take less time than a conventional one. 




    Categories: Uncategorized  


    Posted by RE/MAX Executive Realty on 2/23/2020

    Image by Free-Photos from Pixabay

    So, you're buying a home remotely. Because you probably don't want to invest hundreds of thousands of dollars in a house that smells like cats or that features weekly invasions by the SWAT team of the building next door, it's important to find a long-distance realtor you can trust. You need someone who excels at the remote-home-buying experience and who will represent you faithfully. Agents like these are out there, but it may take a bit of work to find them. Here's what we recommend.

    Choose a Certified Residential Specialist

    A certified residential specialist is a real estate agent who has undergone additional training and who has more experience than other agents. Only about 3 percent of all realtors in the United States have attained CRS status. You can find a CRS locally by using the online search function available at the Residential Real Estate Council.

    To become a certified residential specialist, an agent must meet strict minimum requirements, including:

    • Completion of between 25 and 150 successful real estate transactions.
    • Completion of between 16 and 80 additional hours of training and education in realty.
    • Adherence to a higher code of ethics than the average realtor. 

    While millions of hard-working real estate agents exist, only a small number have gone that extra mile to earn CRS certification. These are the agents you should trust to handle your transaction when you can't be there in person. 

    Choose an Expert Communicator

    Choose a realtor who's an expert in your desired area and with whom you feel comfortable from the first conversation. The relationship between you and your remote-home-buying partner should feature excellent communication. He or she needs to understand your needs precisely, including your must-haves, your budget, your time frame, and what you're hoping to find in a neighborhood. If you're bringing along three small dogs, your mother-in-law, or two moody teenagers, your long-distance realtor needs to make sure there's sufficient space for everyone included. 

    Find a REALTOR® Who Cares

    The REALTOR®you choose should be an expert on local schools. He should be able to get back to you with crime rates and economics. Additionally, he should be present at home inspections to ensure your future home doesn't have a termite infestation or a sketchy, outdated septic system. Everything from water pressure to the condition of outdoor fencing matters. These are all things you would investigate when viewing a home in person. If it's important to you, it should be important to the realtor you choose. 

    Seventy-eight percent of all home buyers value the quality of a neighborhood over the size of a home, and 57 percent would rather have a shorter work commute than a sprawling yard. It's statistics like these that can make or break your remote-home-buying experience. It's vital to partner with the best agent for the job. 




    Categories: Uncategorized  




    Tags