Do
I really need a real estate agent to buy a home?
What
if I am interested in buying a new home?
What
does it cost me to use a real estate agent?
Can
you show me homes listed by other agents?
Do
I need an attorney to buy?
What
is title insurance?
Should
I buy title insurance?
Do
I need a survey?
How
can I be sure about the condition of the home?
Why
choose a Hometura agent to help me buy?
Do
I really need a real estate agent to buy a home?
The technical answer is no, but the smart
decision is absolutely! Buyers working with a real
estate agent have a distinct advantage over Buyers
going it alone. Furthermore, this advantage almost
always comes cost free to the Buyer, since the
Seller typically pays all costs associated with
marketing the property.
Working exclusively with one chosen real estate
agent gives the Buyer access to more listings and
offerings, especially in a hot market. Any new
listing takes a few days before it will appear in
the multiple listing services or in computer
databases. By that time, a properly priced home in a
hot area is often under contract. Why? Because a
good Agent will, immediately upon receiving the
listing, contact all prospects they personally know
that may have an interest in the area. They will
also contact other agents that actively market in
the area so those agents can alert their prospects.
These "first to know" prospects often wind
up making an offer, and signing a contract on the
home, before the go it alone buyer is even aware the
property was available. Remember, these prospects
have often already decided on the area they want,
and are ready to move as soon as a home in which
they are interested becomes available.
Access to listings is only one benefit of using
an Agent. The Agent also provides the Buyer with
practical and current knowledge and experience
regarding the home buying process and the local real
estate market. The Real Estate Agent is a
"specialist" in real estate, the same as
you are in your chosen occupation or profession.
This detailed level of knowledge and experience can
only be achieved by focusing on real estate full
time, day-in and day-out -- a time commitment most
"go it alone" Buyers are unable to afford.
But a Buyer can tap into this specialized
knowledge and experience by working with a Real
Estate Agent
Finding the right home, obtaining financing,
writing the contract, negotiating the price and
terms, arranging inspections, preparing for closing,
the closing process - all of these take time,
knowledge, and information. A Real Estate Agent
can’t do all these for you, but they can provide
assistance and guidance with each of these that can
save you time, money, and stress.
Sellers of listed properties have an Agent to
represent their interest and assist them.
Shouldn’t you as a Buyer take advantage of the
same services?
Hometura would love to provide an agentto
represent and assist you in helping you find and buy that
"perfect home." Please give us a call at
770-451-5755, or e-mail us at
info@hometura.com
(Back
to Top)
What
if I am interested in buying a new home?
Whether buying an existing home, or a new home,
it is our belief that you should always take
advantage of the expertise that a real estate
agent can provide to you as Buyer. Many new home
developments have an agent on-site. That agent,
however, is representing and looking out for the
interests of the Seller.
Many potential new home Buyers believe that
buying directly through the on-site agent will save
them the commission that a Buyer’s agent would
otherwise earn. That, however, is not the case. The
builder has agreed to pay a certain fee for the
successful marketing of the home. If the Buyer
retains an agent to represent their interest, that
fee is split between the Seller’s agent and the
Buyer’s agent, and each agent performs the
appropriate duties associated with their side of the
transaction. If the Buyer does not use their own
agent, the builder still pays the same cost, but the
Seller’s agent keeps the entire amount. Of course,
the Seller’s agent must now try to attend to some
of the details that the Buyer’s agent would have
otherwise performed. The Buyer pays the same
purchase price either way, and does not save by
buying directly through the onsite sales staff. To
the contrary, foregoing the use of their own agent
often winds up costing the Buyer time, stress, and
money.
Our agents have represented numerous purchasers in
transactions involving new home sales, and would
like the opportunity to represent you as well.
Please give us a call at 770-451-5755, or e-mail us at
info@hometura.com
(Back
to Top)
What
does it cost to use a real estate agent?
Typically, in the Atlanta residential market, the
use of a Buyer’s agent is "free." Now of
course the Agent is not really free, but rather the
compensation for their services is paid by the
Seller. From the Buyer’s perspective, there is no
charge for all the advantages they receive by
retaining a Buyer’s Agent to represent them and
negotiate on their behalf.
The Seller of the property has previously agreed
to pay a certain fee for the successful marketing of
their home. The Seller’s Agent splits this fee
with a Buyer’s Agent if the Buyer’s Agent is
able to assist in the sale of that specific
property. The vast majority of agents representing a
Buyer accept this split as full compensation for
their services. However, you should always
specifically ask the Agent how they will be
compensated. The Agent should be able to immediately
and specifically answer that question to your
satisfaction.
If you would like one of Hometura's agents to represent you as your
Buyer’s agent, please give us a call at
770-451-5755, or e-mail us
at
info@hometura.com
(Back
to Top)
Can
you show me homes listed by other agents?
Yes. Agents in Atlanta typically belong to the
First Multiple Listing or the Metro Listing Service.
Some, like all of Hometura's agents, belong to both. Agents that are
members of the multiple listing service have agreed
to cooperate with other members of the multiple
listing services. This produces advantages for all
parties involved. Potential buyers have access to
more listings, Sellers have more exposure for their
property. Agents have a better tool to meet their
client’s needs.
We have access to any home listed in the Atlanta
real estate market, and would be happy to show you
the home as your Buyer’s Agent. Please give
us a call at 770-451-5755, or e-mail us
at info@hometura.com
(Back
to Top)
Do
I need an attorney to buy?
An attorney is not required to represent you in
buying a home, but you may nonetheless want to hire
an attorney to look over the paperwork involved in
the real estate transaction. We would never
discourage anyone from doing so. Real Estate Agents
can explain the contract and the process, but they
are not attorneys, and cannot give legal advice.
As a practical matter, very few Buyers or Sellers
in Atlanta hire an attorney in residential real
estate transactions. If the home purchase requires a
loan, an attorney will do the closing, but that
attorney represents the interests of the lender, and
not your interests as a Buyer.
(Back
to Top)
What
is title insurance?
There are two basic types of title policies: a
Mortgagee Title Policy, and an Owners Title Policy.
As their names imply, the Mortgagee Title Policy
insures the lender that they will not suffer a loss,
whereas the Owners Title Policy insures the owner
that they will not suffer a loss. Whenever a loan is
involved, the lender will insist that a Mortgagee
Title Policy be obtained, and that the borrower pay
the cost of that policy.
Title insurance is an indemnity policy that will
reimburse you for any loss you may incur because of
an undisclosed defect in the title to the property.
An example of a worst case scenario would be the
purchase of property from a bogus seller that forges
the true owner’s name to the deed. Other examples
of potential defects are undisclosed mortgages or
easements.
Obviously, the process is designed to try and
prevent undisclosed defects to begin with, and there
are safeguards to help prevent forged deeds. A title
search is part of the closing process to ascertain
any potential problems with title to the property
prior to the closing. If a problem is discovered,
the Buyer is not obligated to close unless the
problem can be corrected. However, on rare
occasions, mistakes are made or fraudulent
activities occur, and the title insurance company,
by issuance of the title insurance policy, has
agreed to bear these losses.
Title insurance differs from most types of
insurance. Most insurance covers risks that
"may" occur in the future. Title
insurance, on the other hand, insures that problems
have not occurred in the past that would impact on
the title to the property. Title insurance also
differs in that title insurance carries a one time
premium, which is paid at closing. The title
insurance remains is effect without any additional
cost for as long as you own the property.
(Back
to Top)
Should
I buy title insurance?
The Owners Title Policy is optional, but We always
recommend that Buyers purchase the policy. It’s a
cheap price to pay for extra peace of mind. The
attorney at the closing should offer the purchase of
the policy to the Buyer, but if they don’t, the
Buyer should not hesitate to inquire on their own.
(Back
to Top)
Do
I need a survey?
Many mortgage lenders no longer require that a
survey be obtained. By not insisting on a survey,
lenders are able to offer a slightly lower closing
cost and be more competitive in a competitive
marketplace. Lenders feel comfortable making loans
without requiring surveys today because, a few years
back, title insurance companies began to issue title
insurance policies insuring lenders against problems
a survey would have shown, even without a survey
actually be done. The title insurance companies
offered these policies to lenders to be more
competitive in trying to attract the lenders’
business.
The owner, however, does not have this same
protection, even if the owner purchases the Owners
Title Policy. The Owners Title Policy specifically
excepts from coverage these types of losses.
Consequently, the Buyer must decide how much risk is
involved in closing without a survey.
A purchase of an existing home in an established
neighborhood in which there has not been any
construction for several years will have a far lower
risk of unknown problems that would be shown by a
survey than a new development would. If there was a
problem, chances are it would have surfaced in prior
years. Newer developments, on the other hand, have
not yet had the time period for problems to arise.
Foregoing a survey will generally save the Buyer
$200 - $400 in closing costs. Personally, given the
amount of money involved, We view the survey as a
prudent investment. Many Buyers, however, are
comfortable with what they see as a low risk and
prefer the cost savings. Each Buyer must decide for
themselves, but if a survey is desired, this needs
to be communicated well prior to closing in order to
have the time to arrange and complete the survey.
(Back
to Top)
How
can I be sure about the physical condition of the
home?
The physical condition of the property and the
maintenance of a property you are considering
purchasing is very important. Consequently, in
addition to the location, floor-plan, and pricing,
the physical condition of the property is one thing
that you should closely inspect yourself prior to
submitting an offer. If the physical condition is
not up to your standards, or you do not believe it
can be brought to your standards in a cost effective
manner, you need to keep looking.
What if, however, things look fine, but you are
not sure? Most of us do not have the expertise to
recognize all potential problems.
We highly recommend you hire a home inspector once
your offer has been accepted. Their job is to make
sure you are informed of possible defects in the
property that the Agent or Seller may not have known
about. The Buyer almost always pays for inspections,
which will typically run between $250 - $500.
Obviously, a Buyer does not want to spend this sort
of money to inspect a home only to find that they
are unable to reach an agreement with the Seller
regarding the price or other terms.
Consequently, the contract of sale is typically
negotiated first. In order to have protection
regarding the physical condition of the home, the
contract of sale I use has a contingency clause
included giving the Buyer a certain amount of time
to have an inspection performed after the contract
of sale is signed by all parties. If the inspection
reveals major problems that cannot be resolved, the
Buyer has the right to terminate the contract and
buy elsewhere.
Most people prefer to use a home inspector who
has been recommended to them by someone they know.
If you do not have the names of any inspectors, We would be happy to provide you with names of home
inspectors that past clients have been pleased with.
Give us a call at 770-451-5755, or e-mail us
at info@hometura.com
(Back
to Top)
Why
choose a Hometura agent to help me buy?
What do most people shopping for a homes want in
a Realtor? They want a Realtor that understands
their needs and desires, and that can effectively
represent their interests. They want a Realtor that
can assure the purchase will go smoothly and
quickly. They want a Realtor that can accomplish
this with the least amount of inconvenience to their
life. And they want a Realtor that keeps them
informed. Hometura is proud to provide that type of
Realtor, and in a nutshell, that is why you should
choose Hometura!
We have the credentials. So do a lot of other
agents. We have the experience. Again, so do a lot of
other agents. But, we do have a different philosophy
than many agents. Integrity. Service. Results.
We place those words first
in our everyday dealings with clients and customers.
You can read more reasons to choose Hometura on
the
About
Hometura page. The best way to get to know is to let
one of our agents me sit down
with you for a few minutes and let them discuss your
real estate needs with you. Give us a call. We look
forward to meeting you. Hometura, (770) 451-5755
We hope you consider using one of our Buyer’s
Agents when you are ready to purchase your next home.
We promise you will find
us honest and fair, but never pushy. Our job is to help
YOU make the best decision possible, and we will use
our knowledge and experience to help you find the
home that is best for you.
(Back
to Top)
