15 Benefits Of Working With a Buyer's Representative

The specialty of buyer’s representation not only requires knowledge of real estate markets and transactions, but insight into consumer behavior. The goal of a buyer’s representative is to find the perfect point of connection between the homes available in the market and the needs and financial capacity of the buyers. Organizations such as the NATIONAL ASSOCIATION OF REALTOR®'s Real Estate Buyer’s Agency Council, which has more than 40,000 members, offer specialized training and designations for those who work with buyers.

15 BENEFITS OF WORKING WITH A BUYER’S REPRESENTATIVE

Let your buyer-clients know how you can save them time by:

1. Locating suitable properties.
2. Previewing properties.
3. Verifying the properties’ condition.
4. Suggesting necessary inspections by experts.
5. Helping buyers determine what they can afford.
6. Helping to verify property taxes and utilities.
7. Helping to determine the value of the property.
8. Advising clients on structuring an offer.
9. Presenting the offer to the sellers’ representative.
10. Negotiating favorable contract terms for the buyer.
11. Explaining legal documents needed for closing and helping secure them. (Obtaining the current owner's deed to give to the closing attorney for the title search could help with a smoother transaction)
12. Assisting in securing financing.
13. Assisting buyers and their attorney in clarifying title, zoning, building codes, and access easements.
14. Referring them to qualified vendors.
15. Analyzing the future salability of the property.

The above suggestions were obtained from Old Colony Realtors website. For more helpful tips, email me or stay tuned for another future entry in my real estate blog.

New Withholding Requirements for Sales of Real Property by Nonresidents in West Virginia Takes Effect

Are you a nonresident of West Virginia who owns property in West Virginia and are about to sell your property? You may want to look into a new law that took effect January 1, 2008. It was
W Va. Code 11-21-71b which was part of Senate Bill 2009 enacted during the November 2006 special legislative session.

The following link deals with the subject matter: www.state.wv.us/taxrev/taxdoc/tsd389.pdf . Please check with an attorney for more details or contact the West Virginia Tax Commission at (304) 558-3333 or 800-982-8297. Visit them on the web at www.state.wv.us/taxdiv.

In The Process Of Moving? Some Helpful Tips To Reduce Stress!

Making the last days before the closing as stress-free as possible for all parties will work to ensure a smooth closing.

Moving Checklist

The trauma of moving can be an added stress for buyers and sellers. The following is advice to make things calmer before closing.

1. Weed out items you won’t be moving; hold a garage sale or donate them to charity.
2. Get estimates from moving companies.
3. Make a list of people and organizations—credit cards, magazines, college alumni associations—that will need to be notified of the move.
4. Look at schools and day care facilities in new area. Forward school records.
5. Complete change-of-address forms.
6. Contact doctors and ask for referrals if you’re moving to a new city. Forward medical records.
7. Check homeowners’ policy to see if possessions are covered during the move.
8. Decide how you’ll move valuables.
9. Get information on driver's license, insurance policy, license plates, and auto stickers if you’re moving to a new city.
10. Contact utility companies—gas and electric—in both cities.
11. Register with an Internet service provider.
12. Contact phone service—see if your long distance, cellular, and pager carriers operate in the area.
13. Contact satellite and cable TV providers.
14. Empty and defrost refrigerator.
15. Map out driving route to new city.TIP: Pack one or two boxes of must-haves—children’s toys, toilet articles and towels, can opener, flashlight, light bulbs, paper plates and cups—and carry it with you so you can find it fast after the move.

Tips of Handling Moving Trauma

1. Recognize that regardless of the reason for a move—an exciting job transfer or a great new house—moving can elicit feelings of bereavement.
2. There are practical suggestions about reducing stress—eating and sleeping properly and using stress management techniques, such as yoga or breathing exercises.
3. Don’t use panaceas like, “There, there, everything will be fine.”

The above suggestions were obtained from Old Colony Realtors website. For more helpful tips, email me or stay tuned for another future entry in my real estate blog.

Interest Rates Have Dropped Dramatically!

Have you been thinking about buying a home recently? Now might be the right time with the falling interest rates this week. The 30 year fixed interest rate for a home mortgage was at 5.75% at a local lender Friday with a small down payment. The fixed interest rates have dropped dramatically this week. The fixed interest rate had been hovering around 6.25% before the drop. What does that mean to you? For example, on a $100,000 loan financed for 30 years at a fixed interest rate of 6.25% including only the principle and interest the payment would be $615.72 a month. At the new fixed rate of 5.75% for 30 years on the same amount the payment would be $583.57 a month. This translates into a savings of $32.15 a month, $385.80 a year, and $11,574 over 30 years. Call your local realtor and lender for more details or email me at todd@toddnelson.com.