Category Archives: Myrtle Beach buyer’s agent

real estate agent Myrtle Beach

Demystifying The Process of Home Appraisal

So you’ve found a piece of real estate that you like and put in a good offer. Sound like the deal is about to go through, right? – Wrong! The home appraisal process has just begun. Having your offer accepted doesn’t take you across the finish line just yet. There’s still a lot of things that you need to look into and understand. It’s best to talk to your real estate agent Myrtle Beach about this and dig into the details.

Your prospect home still needs to go through a comprehensive appraisal even after you’ve applied for a mortgage. If the appraisal isn’t favorable, that could spell the end for the deal. It isn’t the most pleasant experience. You should always get to know the process so you would know what to expect. Read on and we’ll demystify what goes behind home appraisal.

Lenders are in it too!

So, you and the seller have settled on a price. Does this mean the deal is closed? Is it already a done deal? Unfortunately, it’s not quite over yet. It’s only just starting. The lenders will be appraising the value of the property too. When you’re buying a home, you’re not only dealing with one or two entities. You’ll be doing transactions with a number of people before everything will be finished. Lenders are among them. After all, your investment is theirs as well. For you to be able to get a mortgage, the lenders must appraise the value of the home. The property will serve as collateral. If you don’t manage to pay your mortgage, the property will be foreclosed and will be sold to get their money back plus interest.

Appraisers are on the lender’s side, not yours

In the process of buying a home, you’ll the paying for the appraisal of the property of your choice. The appraisal process will set you back anywhere from $300 to $400. However, paying any amount does not mean that you’ll get special favors from the appraiser and get a lower appraisal for the home. Nobody is allowed to put any pressure on the appraisers just to get to a certain mark. In fact, it is illegal to do so.

Home appraisal adds protection to the buyer

You read that right. Although appraisers will not help you get a home for the price that you want, they will give you the protection that you need. Home appraisal isn’t only there to give clear value to your prospect home, it’s also a way for you not to end up with a bad deal. For example, the agreed amount between you and the seller is $125,000. However, the appraisal came in at just $105,000. That leaves a $20,000 deficit.

There are a couple of things that buyers can do at this point. Do note that appraisals coming in low isn’t a bad thing – at least not entirely. Here are the steps that a buyer could take:

• The buyer could walk away from the deal and find another property
• Continue with the deal by coming up with the difference or have the seller cover it
• Get a second opinion from another appraiser (although this isn’t always the best option)

When you do seek another opinion, you need to consider that the results may still come in the same. Do make sure that you consult experts first. Talk with your real estate agent to know more about the process.

Give Full Potential Real Estate a call today and get the home of your dreams!

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-236-0203

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Home Buyers Myrtle Beach

Buyers Agent Myrtle Beach on What Home Buyers Want

From tiny houses to Smart and modern homes, today’s home buyers surely know what they want. In fact, according to the U.S. Census Bureau, houses constructed in 2012 were larger and also more costly compared to residences that were built in the last couple of years. Even more so, home buyers today are extra mindful of environment-friendly materials where they regard to power efficiency and storage the most.

Do you also have the same preferences when it comes to home buying?

In a survey conducted by the National Association of Home Builders (NAHB) energy-efficient homes were among the top choices by home buyers. Ninety-four percent of participants stated they desired energy Star-rated devices, while at least 91 percent preferred the entire house to be energy efficient. On the other hand, about 89 percent chose home windows to be energy efficient while 88 percent were content with just having ceiling fans installed.

Home Buyer’s Preferences

Each home buyer is unique and has a certain non-negotiable in mind. Perhaps buyers agent in Myrtle Beach should consider looking into. Below are some of the demands of today’s home buyers.

  • Cost Savings VS. Energy Efficiency

It must be a surprise how today’s generation of home buyers regard Eco-friendly homes in their choices. The truth is, it’s all about being cost efficient because the more energy efficient the home is, the more they save up on costly electric bills. Based on the same survey by NAHB, 67 percent of participants claimed they were worried regarding the house’s influence on the atmosphere, however, they would certainly not pay even more for it. Nevertheless, 73 percent concurred that future energy prices would certainly affect their home buying choice. Typically, home buyers wanted to pay even more for a house that would certainly conserve them $1,000 a year in energy expenses.

  • Huge Closets VS Storage Rooms

When it comes to storage, what counts most– big storage space like closets or another extra room just for storage? One thing to get rid of clutter is by having enough storage space to keep everything in place. According to the survey, 93 percent desired a utility room while about 90 percent just wanted extra storage space for bed linens. The other home buyers preferred having a walk-in kitchen area cupboard. Among homebuyers who desired a utility room, 57 percent considered it vital and would not consider a home without it.

Furthermore, today’s home buyers are searching for larger garages that can fit 2-3 more cars. They’re utilizing the added area in garages, not for a vehicle, but also for storage space. About thirty-two percent considered the garage storage space as an essential location in the house.

  • Living Room VS Kitchen and Dining Room

Based on the study, home buyers want to see even more houses that make the kitchen and dining area, the main focal point of the entire house. Home buyers today are into entertaining family and friends through cooking and dining at home. In that regard, purchasers are searching for an open layout, where the cooking area opens to the eating location and also living-room.

So what did home buyers say no to? According to some buyers agent in Myrtle Beach, houses with elevators and those near a golf course were not home buyer favorites.

No matter what your home preferences are, Full Potential Real Estate can find the right home for you and your family.

 

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

Real Estate Myrtle Beach

Buyer’s Agent: Your Trusted Guide To Buying Your Dream Home

Real Estate Myrtle BeachAre you prepared to go house hunting? You will be dealing with a lot of things like taking care of the paperwork, competing with other buyers, and dealing with other challenges that may come your way. So you need to be ready if you want to get your hands on the keys to the house of your dreams. The whole process can be stressful and quite complex and that is why hiring a professional can make a huge difference. You might have heard about listing agents, seller’s agents, buyer’s agents, and so on. You are a buyer so you need a buyer’s agent who can help you in every step of the way. Buyer’s agents can also save home buyers tons of cash and time as they go on their way to homeownership.

Why Hire A Buyer’s Agent?

A buyer’s agent Myrtle Beach can guide you all throughout the home purchasing transaction and they will address all of your concerns or questions. Hiring them offers other advantages like:

Finding the right property – after figuring out what clients are searching for and what their budget is, the agent will then set up an appointment to tour houses that fit their needs and preferences. The agent will also explain everything about the many different properties and neighborhoods to assist buyers to decide which house is the best for them by letting them know about the benefits and disadvantages of different options.

Negotiating the offer – the buyer’s agent will also inform their clients about the most suitable price to offer and present to the seller’s agent. The agent will then negotiate on behalf of their clients as well as write up the needed contracts. In this aspect, the experience of the buyer’s agent when it comes to negotiating deals can help save money and prevent buyers from coming across potentially expensive and irreversible mistakes.

Recommending other professionals – a buyer’s agent from Full Potential Real Estate will also refer clients to reputable real estate lawyers, mortgage brokers, movers, home inspectors, and so on. This could also be helpful when it comes to expediting every step of the home buying process and guide you through a successful home sell quickly.

Helping in overcoming setbacks – In case new issues are brought to life after a home inspection or an appraisal, your buyer’s agent will offer recommendations as to how you should proceed. The agent will also act as a buffer between the seller or the seller’s agent and you, the buyer. In case negotiations turn hostile, it is very helpful to have an experienced buyer’s agent who can stay calm and offer effective solutions.

If you wish to ease your way to homeownership, you need to have a good buyer’s agent. Hiring a bad one can easily turn your house hunting experience into a nightmare. Don’t just choose any buyer’s agent. You need to interview at least three buyer’s agent and don’t forget to ask questions. These questions include: What kind of neighborhoods they specialize? What are their availability and schedule? How long have you been in working in the real estate industry? These questions will help you choose a reliable and reputable buyer’s agent Myrtle Beach who can help you buy your dream home.

Call Full Potential Real Estate if you are looking for a good buyer’s agent.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-236-0203
http://fullpotentialrealestate.com

Real Estate Myrtle Beach

What You Must Know About Myrtle Beach Buyer’s Agents

Myrtle Beach real estateA couple I know just recently acquired their first home. But due to the fact that the representative representing them also represented the seller and this lead to a high level of distrust throughout the transaction. Having one agent to represent both the buyer and seller isn’t doing any favors for either party.

Though the couple ended up closing on the house, their relationship with the representative, a good friend, was ruined. “Our underlying source of tension in this case– and we are novice home buyers– was whether the agent was watching out for our best interest or the seller’s, as my partner and I were never ever 100% sure,” the couple later commented.

The couple questions whether the deal would have worked out better if they had hired a Myrtle Beach buyer’s agent to represent them in the deal.

For years, numerous property buyers have utilized a Realtor to show them readily available homes, prepare offers, and help pin down a purchase arrangement. However Myrtle Beach Real Estate Agents typically make their money from fees paid by the seller and so plainly have an interest in making a sale. They also have less incentive to point out possible flaws in a home or its specific location. It’s not unexpected, then, that a recent study by the Federal Trade Commission showed that 72% of property buyers thought the agent showing them your house represented them. However that wasn’t necessarily the case.

To improve possible confusion and dispute, a number of states passed laws requiring agents to disclosure of the duties of representatives involved in a real-estate transaction – specifically to disclose if they were a dual agent (i.e. representing both the seller and the buyer). The modifications also prompted house buyers to increasingly use a “buyers agent”– a real-estate sales representative who exclusively represents the purchaser.

By 2001, 46% of all home buyers signed contracts with a buyer’s representative, according to the National Association of Realtors, a Washington, D.C.-based trade group for the market.

The Property Buyer’s Agent Council (REBAC), a division of the NAR based in Chicago, notes that more than 33,000 purchaser’s agents are active in the U.S., serving most neighborhoods in all 50 states.

Promoting for the Purchaser

Myrtle Beach Buyer’s Agents are licensed real-estate agents. The significant distinction  between them and a seller’s representative is that they work specifically on behalf of the buyer. A purchaser’s representative may assist and negotiate with the seller for a smaller deposit for your house, help negotiate for the seller to pay closing costs or negotiate a lower purchase price. They also will assist purchasers to find a real-estate lawyer to examine the sales contracts and inspectors to analyze the home being purchased.

Cheryl Woodward, a broker with Full Potential Real Estate, attempts to assist home buyers just as a business consultant would assist a corporation. “Buyers can make the emotional choice of whether they like the house or do not like your house,” says Ms. Woodward. “But they require someone on their side to help them make a sensible corporate decision also.”

Ms. Woodward is familiar with local areas and can discuss them with purchasers. She also can offer customers with access to databases revealing the insurance-claims history of a home they wish to buy and the history of the neighborhood. In unusual cases, such information might even consist of whether any sexual transgressors reside in the location, divulged through regional versions of Megan’s Law.

“That’s certainly something that somebody with a family will would like to know about,” she says. “And a seller’s agent doesn’t have an obligation to inform you about these things. They probably wouldn’t want you to even find out of those things.”

Buyer’s representatives have access to the multiple-listing service, which notes houses being marketed through other real-estate representatives. But, since they represent the buyer, they also frequently will reveal homes that are listed as “for sale by owner” and “for sale by builder” if a buyer has an interest in a specific home.

How They’re Paid

The typical mode of payment is a commission at the time of the closing from the profits of the offer. Buyer’s representatives likewise may work on a hourly or retainer basis, much as an attorney or expert. Still, home buyers need to bear in mind that per hour costs can accumulate quickly.

When paid a commission at closing,– a normal practice in the market– a buyer’s agent naturally has an interest in having a sale close. “So the buyer’s agent’s primary motivation is still to get you to buy something,” states Michael Golieb, a Florida real-estate broker.

To lower the possibilities of other conflicts, do not employ a buyer’s agent who works for the exact same company as representatives who are listing properties that you wish to see. This is called “dual agency.”

Who Pays the Commission?

Another potential issue can develop when a buyer’s representative shows a potential property buyer a home that’s for sale by owner (FSBO). “Often the seller will state, ‘OK. I’ll pay the commission.’ Often, the seller will say, ‘No. I won’t pay the commission, you’ll need to pay it,'” says Elisa Galati, a vice president at GoneHome Inc., an online real-estate listings service.

“FSBOs are a scary thing for representatives because the real-estate deal is so complex, and any variety of things can go wrong and postpone the sale,” says Mark Hayden, a director of communications at eRealty.com, an online house seller. “Most of the time, the FSBO owner is unrealistic about the price and ignorant about the charges and documents that have to be expedited in order for the house to close.” Sometimes, what ends up occurring is the seller will “look for counsel from the buyer’s representative, putting the buyer’s agent in a conflict-of-interest scenario,” states Mr. Hayden.

Working with a Buyer’s Representative

Before signing a contract, prospective home buyers need to interview a number of agents and check their recommendations with present and previous customers. You also might want to call your state’s real-estate regulatory agency and ask if any grievances were submitted about your options.

Home purchasers must get the terms of the agreement in writing, with the representative’s services, rate and other costs plainly defined in a document called a buyer’s agency agreement.

Call Full Potential Real Estate, LLC today to schedule a time for her discuss being a buyer’s agent for your next home purchase.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com