Recently I had a buyer phone me who had already decided which community he wanted to reside.  He phoned me to show him a listing in that community; it wasn’t my listing but, one that he had found on my website so, he presumed it was my listing.  He refused my offer to view other properties in the area.  He also confirmed that he is not working with a real estate agent and that he had already spoken with Joe Lender and had a pre-approval letter in-hand.  

Sounds like the perfect buyer candidate, right?

So I referred him to one of our agents who specializes in this particular area.  This agent took time out of an already jam-packed day, to show this gorgeous high-end property to the perspective buyer.  I knew this agent would land him because of the wealth of knowledge this agent possesses about that particular area.

I set the showing up for the agent and ‘introduced’ the two (buyer and agent) and felt confident that, based upon the buyer’s preferences, this was the perfect home for he and his family.

Shortly after showing time, I received a call from the agent telling me that the buyer loved the home but, that he was going to be using HIS agent!  When my agent suggested that the buyer had confirmed with both of us the previous day that he was not working with an agent, he stated, “I’m so sorry.  I told a little white lie!  I didn’t want to ‘bother’ my agent to have to show me homes.”

Really?  So, your agent is going to make TENS of thousands of dollars on a transaction with you when you do ultimately purchase a home but, you don’t think that he or she should have to actually WORK for it?

Writing an Offer and orchestrating Due Diligence is only HALF of what we do!  You think that YOUR agent shouldn’t be bothered but, it’s okay to bother mine, who will not get a DIME out of your transaction?  

We are NOT professional door-openers!  We represent our buyers to the fullest extent including any and all fiduciary duties.  Because you were basically representing yourself in the viewing of this home, ANYTHING that you said to my agent about this property, can and will be shared with the SELLER as my agent is legally representing the SELLER, not you.  

So, if you suggested in passing that you believe that the list price is fair and you revealed that you qualify for more than the list price to my agent, that information, going straight to the SELLER, does not benefit you at all when you present an Offer on that particular home.  Anything that you disclosed, inadvertently or not, can and will be used against you by not simply phoning YOUR agent who is representing YOUR best interests!

The same goes for every other agent that you ‘used’ to show you homes that wasn’t your own.  Your agent represents YOU.  Why on EARTH would you choose NOT to use YOUR AGENT to represent YOU?

The next time you want to view a property, protect your wallet and call YOUR agent.  Believe me, they’re adequately compensated and they are there to represent your best interests, not the sellers.

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

Charlotte Home Buyers Guide, Step 5 – Making the Offer

We’re down to the wire now!  You’ve narrowed down the details of your Charlotte home search, found your Realtor®, chosen your lender and now found your new Charlotte dream home.  What’s next?  Making an Offer on that property and negotiating with the seller.  Frankly, this is not exciting reading but, this is where your Realtor® is worth his or her weight in gold!  Ask questions with regards to the Offer and be certain that your agent has fully explained the terms of your Offer BEFORE presenting it to the other party.

Your local Charlotte and North Carolina real estate association, working hand-in-hand with legal counsel, have developed the real estate Contracts that are used for transactions in our area.  These contracts enable you to specify a sale price and also include many clauses for specifying various terms of purchase, such as the due diligence fee and timeline, the escrow deposit amount, the Closing and possession dates, as well as many other conditions.  Your Realtor® will carefully review these clauses with you  to ensure that they express your desired Offer and conditions.

In addition to drawing up the Contract, addenda necessary, homes owners’ association reviews and reviewing the property disclosure with you, your Realtor® will be able to address all your questions about the entire Offer process.

Once written and signed, your Realtor®  will present the Offer to the seller’s representative.  At that point the seller can either accept your Offer, reject it, or counter it to initiate the negotiation process.

Successive counter-offers, with deadlines for responding and meeting conditions, will be exchanged between you and the seller until a mutually agreed upon pending agreement is reached or the negotiations cease.

Bear in mind that if you are competing with other buyers during your negotiations, each time that you counter, the sellers’ previous counteroffer is no longer in effect; you’re basically beginning the Offer process all over.  Should the seller have more than your Offer on the table, this frees them up to reach out to other potential buyers and counter their Offers.

Negotiations can involve many factors relating to market conditions, time on the market, whether or not the property is a distressed property and what sellers feel is a fair market value.  If your Offer is a clean Offer, meaning that if you are not asking for the moon–excessive Closing costs to be paid, personal items to remain in the home or a conditional Offer based upon the sale or Closing of your current home, chances are you’ll be able to reach an agreement in a timely fashion.

Read more: http://www.icharlotterealestate.com/charlotte-home-buyers-guide-part-5-making-the-offer/#ixzz1azC06p5f

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

Charlotte Home Buyers Guide Step 4 – Now, Let’s Go Shopping!

After you’ve defined your goals pertaining to your Charlotte real estate purchase, you’ve  found a Charlotte Realtor® to get you through this process and located the lender that is right for you, it’s time to go shopping for Charlotte homes for sale!

Keep in mind that you will want your OWN Realtor® to represent YOU for the job.  Also, this article should clear things up for you if you need help deciding which type of real estate professional (agent, broker, Realtor®) is right for the job. Once you have established your ‘bottom line’ with your lender and have your pre-approval in-hand, The key to the home search process is having narrowed down your wants vs. needs and having a fairly good feel for what you’re searching for in a home.

Your Charlotte home search should be narrowed down by the following two topics first:

1. Lifestyle needs must come first.  Do you frequent the visual arts, professional sporting events?  You may choose to live near the Uptown area.  Do you or someone in your household participate in team sports?  You may wish to live near some of the urban or suburban playing fields or gyms.  Do you prefer to live near work?  That will also determine the area if you prefer a short commute time.  Do you prefer not to drive to work?  You will want to locate one of the communities near the LYNX light rail system.  Tell us what your lifestyle needs are and we can help you find the perfect area and neighborhood to fit those needs.
2. Locate the Charlotte area neighborhood or at the very least, the general area.  Do you like historic communities?  Do you prefer Charlotte condos or townhomes?  Modern, contemporary, traditional or transitional single family homes may be your preference and we can help you find the neighborhoods that best suit your needs.  If you prefer an amenity-filled community, there are plenty of those all across the city.  Coupled with your lifestyle needs and your community preferences, you will be directed to the area/neighborhood that is perfect for YOU.

Also, here are a few facts about the home search process that may help put your home buying experience in perspective:

•  Over 90% of buyers use the Internet to search for their new Charlotte home

•  Typically, a buyer searches for 12 weeks and will view 12 homes in person

• The vast majority of buyers (over 80%) view real estate agents as very useful in the search process
• There are many benefits to starting your search process at a real estate website.  This gives you the opportunity to view many homes, the details of those homes, take virtual tours and access neighborhood info from the comfort of your own home before ever heading out to tour the homes in person.

While the different property details may seem what you prefer online, homes can actually be very different in terms of layout, design, workmanship, location and other aspects when viewed in person.  Your experienced REALTOR® will be able to point out things that you might miss, provide an expert analysis of the property and the comparable properties, and act as an impartial sounding board for you.

Start your Charlotte home search here at www.iCharlotteRealEstate.com where there are a multitude of ways to search for your new home!

Read more: http://www.icharlotterealestate.com/charlotte-home-buyers-guide-part-4-lets-go-home-shopping/#ixzz1as3aXjRY

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

4 MORE Reasons to Buy Charlotte Real Estate Now

Okay, so you’ve heard repeatedly over the past 3 years why “NOW is the time to buy!”  You’re accustomed to the ‘standard’ reasons that agents and other experts think now is a good time to buy Charlotte real estate.  However, there are 4 reasons to buy Charlotte real estate now that just may surprise you:

1. Homes are in tip-top condition.  Yes, instead of selling and moving into a more expensive home 3-4 years ago when the Charlotte real estate market began to decline, many owners chose to invest their money in home maintenance, repair and updates.   According to the Harvard University’s Joint Center for Housing Studies, “Even at the height of the homebuilding boom, expenditures on maintenance and improvement of existing homes accounted for about a quarter of total residential fixed investment. That share has since risen to nearly 45 percent.”
   
   
2. Fabulous homes are coming on the market.  Many homeowners who have been patiently awaiting an upturn in the real estate market, are now putting their homes on the market.  And, those homes are in great shape (see #1).
    
3. As much as we don’t like it, appraisals reflect reality.  Fannie Mae adjusted its guidelines so that home appraisals can be more in alignment with today’s real estate market.  For sellers who are priced appropriately, this means that more deals will make it all the way through to closing.
    
4. More housing programs.  There are additional programs to help more people buy homes: 
1. Workforce Housing Programs encourage middle-class Americans to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.
2. American Dream Downpayment Initiative (ADDI) provides low-income first-time earners (single family: $44,400; family of four: $63,450) with a city loan equal to 6% of the purchase price or up to $10,000, whichever is greater.  Each state receives ADDI funds proportionate to the percentage of the national total of low-income households residing in rental housing in the state, as determined by the most recent available U.S. Census data.
3. Mortgage Credit Certificate Program is a federal tax credit (15% or 20% of the mortgage interest, depending on property location) that helps low and moderate earners qualify for a higher first mortgage and reduced federal income tax.
4. Surprisingly, jumbo rates are incredibly affordable now!  High-end buyers are locking in a 5.25% rate and lower, which is better than most homeowners’ current non-jumbo mortgage rates.

Speak with a mortgage specialist or Charlotte real estate professional to discover which programs your state has funded.  If you don’t know of one, I am happy to recommend lenders who are happy to work with you.

Now isn’t just a good time to buy, it’s one of the best times ever.  If you’re ready to buy a home, I can help.   Give me a call at (704) 491-3310 or email me today at Debe@DebeMaxwell.com.

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

Charlotte Home Buyer Tips | Why Do You Need a Buyer’s Agent?

I’ve had numerous calls from customers who are requesting that I show them my currently listed homes; they don’t want to see any other properties.  I am representing the seller, and I am asked by these customers if I can only show them my listings.  When I discover that the person is NOT represented by an agent, I engage them in a conversational review of the various types of agency.

MANY of them absolutely refuse to heed advice with regards to dual agency, saying that they “WANT to purchase from the listing agent so that we can SAVE MONEY!” After citing some horror stories, many look a bit worried and wind up protecting their interest (and their wallets) by seeking their own representation while others continue to “shop the listing agents!”

Buyers who fail to realize that not having their own representation can not only cost them hundreds of dollars but, hundreds of thousands of dollars!  Dual agency IS legal here in North Carolina but, that doesn’t mean that you will be treated fairly.

Consider this…

Why is the allegiance of the listing agent inherently to the seller?

Because the listing agent either sold them the house and has been in touch with the sellers for years, the sellers are family, friends, referrals or a simple internet lead with a relationship that has been cultivated with their real estate agent.  The listing agent and the seller have typically spent a good deal of time together, getting to know one another while preparing the home for sale.   A sign or internet-buyer call is an unknown customer and don't realize that the agents’ relationship with the sellers have long since been established.  Thinking of this from a business perspective, this is not a position I would want to find myself in–basically being the ‘third wheel’ in a business transaction is not a smart financial move.

What the buyer doesn’t realize is two-fold:

1. The allegiance of the listing agent IS inherently to the seller; no matter how ‘honest’ one is, it is difficult to be 100% fair to both parties in a single-agent dual sale.

2.  The listing agent’s firm has a signed listing CONTRACT with the Seller.  Is THE FIRM really going to allow the listing agent to give up 1/2 of the commission in the agreed upon listing Contract?

Buyers think that they are saving a small percentage of the list price by not having their own representation.  Unfortunately the buyers don’t realize that all sellers are not 100% forthcoming when it comes to property disclosures and that small percentage (of commission) saved can cost significantly more in hidden defects.  Every buyer needs their OWN representation!

I have done dual agency and think that I’ve been as fair as fair can be in representing both parties but, I also have to consider the liability that I may be creating for my sellers should I choose to represent a buyer in the sale of their home.  There are a lot of factors to consider here and all parties need to be made aware of each and every one of them.

Just as bad as allowing dual agency with a single agent, is a firm which offers an additional bonus for their agents to sell that brokerage’s listings.  This just begs for agents to push/steer clients in the direction of their own firm’s listings, not showing listings that may better suit their buyer–simply for a bonus themselves.  This bonus is neither disclosed to the buyer, nor on the HUD-1 (Closing statement). 

We often receive calls from buyers who can’t seem to understand why their agent hasn’t shown them a particular property that they had seen online which they feel suits their needs better than the same-agency listings that they’ve been shown by their former agent.  Again, a buyer needs an agent who has the buyer’s best interest at heart.  Do you want to be searching for your dream home at the mercy of an agent who could very well be looking out for only themselves–procuring a bonus check.

Read more: http://www.icharlotterealestate.com/why-do-you-need-a-buyers-agent/#ixzz1YpfZkjvT

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

How To Inspect Charlotte Homes For Sale as You Search

You know my recommendation is always to have a professional property inspection before a buyer Closes on a property.  Wouldn’t it also be a good idea to discover a property’s problems even before you make an Offer?  With some minor attention to detail, you can learn a lot about the condition of Charlotte homes for sale that you tour.

Here’s a pre-Offer, do-it-yourself property inspection checklist to get you started:

• Basement - A basement can give you information about the structure of a house, especially if the basement is unfinished.  You’ll want to make sure there are no cracks, the electrical wiring is organized, and there is no evidence of water damage. If there isn’t a basement, examine the exposed foundation on the exterior of the house.
   
• Electric panel – Upon examination, it should look orderly and neat.  If it is, that doesn’t mean you’re in the clear, but a disorganized panel can often be a sign of shoddy electrical work throughout the house.
   
• Faucets and fixtures – Is there hot water?  Does the shower drip? Does the oven work? Does the toilet run?  Not every problem is a major issue, but a plumbing evaluation will give you a good idea of how much care went into the property’s construction and maintenance.
   
• Attic - Not only should you be looking at available storage space, you’ll want to see how well insulated the attic space is.  Insulation can make a huge difference in your monthly electric and gas bills.
   
• Roof - Missing shingles or interior water damage in Charlotte homes are signs of roof damage including aged roof (needs full replacement), damaged roof, dry rotted boots or a simple missing shingle.
   
• Windows - Make sure they all open and close properly and that you can’t find any drafts, gaps or condensation between the glass.
   
• Interior and exterior finishings – Check the baseboards and siding to see what shape they’re in.  If the builders didn’t pay much attention to what you CAN see, imagine what the internal structure might look like.

Want to work with a professional real estate agent who can help you weed out badly-built or poorly-maintained Charlotte homes for sale before you make an offer?  Give me a call today at (704) 491-3310 or email me at Debe@DebeMaxwell.com – We can help.

Read more: http://www.icharlotterealestate.com/inspect-charlotte-homes-for-sale-as-you-search/#ixzz1T456Z62n

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.

A professional young couple with two small children recently moved to Charlotte for a new job and did not know the area at all.  Their relocation company placed them with a real estate agent who found them a cute little house in a neighborhood just outside the city limits.  The reason I am now being consulted, the homeowners have realized that there is fighting in the streets and gunfire in the middle of the night--OFTEN--in their community!  They absolutely detest the neighborhood AND the school that their children are attending and were ready to move after their first two days in their new home.



Sometimes we ask ourselves, "What exactly is fair about the Fair Housing Act?"   The information that these clients needed is NOT something that we are legally allowed to share with our clients!  I know, it IS a shame but, it's a fact of life that we must learn to live with.  However, there are ways to ascertain that our clients are given the best possible information to make an informed decision.

These clients used my team to assist them (through a formal client referral from the wife's job at the bank).  After sending them links to do their own research as well as setting them up with a gateway and getting them pre-qualified, we began their home search.

After viewing three homes in GREAT areas, in close proximity to their work, they've selected their dream home and are now proud homeowners in an area that they plan to reside for quite a few years!

The moral of the story--the original agent not only forgot to do her homework but, my clients had NO idea that THEY could do a little homework themselves.  They thought that was what they had 'hired' the original agent to do.  She did not pre-qualify them--they just THOUGHT the home that they purchased was all that they could afford because that is what a 'friend' had told them.  

The original relocation agent wound up placing them in a home in an unsafe neighborhood in a school that the children were miserable, just to 'get it done'--not to mention, putting them in harms way in the process.

Because we are unable to discuss matters which our Buyers ask about certain neighborhoods, schools and areas doesn't mean that we can't guide them to do it themselves. Give your clients homework to do and let them feel empowered.  Allow them to feel that they ARE a part of this process.

 Believe me, YOU will sleep better at night.

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.