A Message for buyers of homes and other real estate in Montgomery, Prattville, Millbrook, Wetumpka, Troy and Lake Martin Alabama.

David@buymontgomery.com

www.buymontgomery.com

I robbed my honey bees this past weekend. I’ve just finished jarring the honey and it looks like I’ll have about 35 pints of the spring 2011 vintage. I was surprised they had been able to make so much given the drought conditions we’ve had over the last several months. I have 10 or 12 people who get a jar or two every year and take it to build up resistance to their allergies. I you would like a jar let me know. I’ve been told that the farther away one lives from where the honey is made the less effective it is in helping with allergies. My hives are in central Pike County so keep that in mind.

A Message for buyers of homes and other real estate in Montgomery, Prattville, Millbrook, Wetumpka, Troy and Lake Martin Alabama.

The Buyer’s Agent of Montgomery, Inc. is a brokerage firm that specializes in representing homebuyers only. We never represent sellers so we don’t get involved in situations where we might have a conflict of interest. For example, if you’re working with the listing agent who represents the seller of the house you want to buy you will have to tell that agent how much you are qualified for by the mortgage company. And other personal information such as whether you’re operating on a tight schedule. This kind of confidential information can affect you negotiating strategy.

If you’re working with an agent who works for the same company as the listing agent of the house you’re interested in then you need to be concerned about those agents having access to the same files and overhearing phone conversations. Even if you sign a “buyer’s agency agreement” with an agent of another company who represents sellers one day and buyers the next you’ll be asked to sign a contract that contains a “dual agency” clause. That means that if you find a house that you like that is listed with your agent’s company you must agree in advance for “your” agent to “become” a dual agent, representing you and the seller at the same time.

To quote from HUD’s Home Buyers Booklet “Although these agents and brokers provide helpful advice, they may legally be representing the interests of the seller and not yours. If you want someone to represent only your interest, consider hiring an ‘exclusive buyer’s agent’, who will be working for you”.

At The Buyer’s Agent of Montgomery, Inc. we represent buyers only, 100% of the time, never sellers. We are dedicated to saving you money, making sure you don’t get a lemon, and protecting your financial interests as a homebuyer. To fulfill these commitments to you we agree to provide you with the following package of services.

Consulting With You:

We will listen to you about the type of neighborhood and house that will best suit your needs and desires. We will not show you houses that are not in the neighborhoods you like and that are not in your price range. We will assist you in getting pre-qualified for financing in order to enhance your bargaining position. We will act as your fiduciary, safeguarding your confidential information and acting at all times in your best interest.

Searching The Market:

We will locate all properties, not just those listed with a particular company, currently for sale that meet you requirements including MLS listings, FSBO’s, builder owned, and properties foreclosed by banks and government agencies. We will show you the houses you think might work for you without trying to sell you a particular one. We will provide you with any information about a neighborhood or a house that we think would be material to your decision.

Evaluating The Property:

When you find a house, or several houses, that might work for you we will provide you with recent comparable sales and historical information to assist you in making a decision. When you are ready to make an offer we will advise you on an opening offer and a negotiating strategy.

Negotiating The Transaction:

We well prepare, with your approval, a purchase offer written with your interests in mind, not those of the seller. We will assist you in responding to and making counter offers. We will advocate your position exclusively throughout the process, with the goal of coming to a contract that you will be happy with and that will be in your best interests.

Manage The Details:

We will provide you with market information on mortgage rates, insurance premiums, attorney’s fees, title insurance, surveys, pest inspections, repairs and any other required settlement services. We will monitor the contingencies in the contract such as financing, inspections, and repairs to be sure they get done on time and at the lowest cost. We will review the Settlement Statement before closing if possible and at closing to be sure in is in agreement with the contract.

In a traditional home-buying real estate transaction, in many jurisdictions the real estate agents involved - even the agent assisting the buyer - are legally obligated to the seller. This is because a great many real estate agents work for brokerages known as dual agency brokerages, meaning that its agents accept listings on behalf of sellers and also represent buyers. Since many real estate agent fees are set as a percentage of the sales price, the natural incentive - for any agents involved in the transaction - is to get the highest price for the house and make the sale happen as soon as possible. For the most part, these are advantages for the seller.

Home Buying Questions

As a home buyer, there are many aspects of the sale that require an agent working solely on behalf of the buyer’s interest.

• Are the agents involved showing all of the properties for sale that meet the buyer’s criteria - including For Sale By Owner homes, called FSBOs, that aren’t listed in the Multiple Listing Service (MLS) and often not considered by traditional agents?
• Have all possible issues that might impact the salability and the sales price been disclosed, such as liens, mechanics liens, potential plumbing and heating problems, and roof conditions? Who hired the appraiser which has established value?
• Who hired the home inspector(s) who are certifying and rating the major components of the house, things like the foundation, the structure, the plumbing, the roof, the HVAC, the condition of the sewer, the sprinkler system and more?
• Do local zoning regulations allow redevelopment or remodeling on the property, and with what restrictions?
• And perhaps most importantly, who is assisting the buyer in finding and evaluating the various mortgage financing options available on the market today?

The Home Buyer’s Advocate

A real estate agent who is a member of The National Association of Exclusive Buyer Agents (NAEBA) will answer all of these questions and more - and insure that each and every step in the home buying process is conducted with the full benefit to the buyer in mind. That’s because NAEBA agents work solely for the buyer, and never accept seller listings or represent sellers. NAEBA agents are highly trained in all aspects of real estate transactions, on the national and local area, and operate within the guidelines of NAEBA - including adhering to a strict code of conduct and ethical guidelines, rules for continuing education, and under the principles of NAEBA’s comprehensive Buyers Bill of Rights.

Buying Commercial Property

NAEBA agents throughout the country also have the expertise to assist individuals and businesses in the acquisition of commercial property - and, as always, make sure that the interests of the buyer, and the buyer alone, are always addressed. Business owners looking to expand with a new location, or to add a warehouse to their operation, or simply to find a new property for the business, can rest assured that with a NAEBA agent in their corner they will get the utmost in buyer-centric service.

Purchasing real estate in today’s market, whether for a primary residence, a second or vacation home, a retirement property, a rental income property, an investment property, or commercial property, is more complicated than ever before. Having an Exclusive Buyer Agent in one’s corner brings buyers the peace of mind that their interests, and only their interests, have been cared for throughout the entire process, from the property search, to inspection and negotiation, through to a successful and satisfying closing.