Posts Tagged ‘homeowner advice’

How to Arrange Furniture- 10 Basic Rules

Planning the arrangement of furniture is hard enough when you are buying new furniture to fill a house for the first time. It becomes even more challenging when you are moving a houseful of furniture from an existing home into a new space. It may take a while to get a feel for the new space and figure out how to make the rooms both comfortable and functional. And you need to be ready to rearrange, get rid of pieces that don’t fit, and perhaps purchase new items that might work a little better than your old pieces.

If possible, give careful consideration to the arrangement of furniture in the new space well before you move. This advance planning can make the arrangement go much smoother when moving day comes, and it might even prevent you from moving furniture that is not going to work in the new space, anyway. If a couch is destined to be given or thrown away, why go through the labor and expense of moving it from the old house to the new?

Over the years, interior designers have recognized a number of simple, easy-to-apply principles that work. Just follow these common sense rules and you’ll find that arranging furniture isn’t so scary after all.

1. Think About How the Room Will Function

Consider how the room is used and how many people will use it. That will dictate the type of furnishings you will need and the amount of seating required.

2. Decide on a Focal Point

Identify the room’s focal point — a fireplace, view, television — and orient the furniture accordingly. If you plan to watch television in the room, the ideal distance between the set and the seating is three times the size of the screen (measured diagonally). Therefore, if you’ve got a 40-inch set, your chair should be 120 inches away.

3. Start With Priority Pieces

Place the largest pieces of furniture first, such as the sofa in the living room or the bed in the bedroom. In most cases this piece should face the room’s focal point. Chairs should be no more than 8 feet apart to facilitate conversation. Unless your room is especially small, avoid pushing all the furniture against the walls.

4. Consider Symmetry

Symmetrical arrangements work best for formal rooms. Asymmetrical arrangements make a room feel more casual.

5. Create a Traffic Flow

Think about the flow of traffic through the room — generally the path between doorways. Don’t block that path with any large pieces of furniture if you can avoid it. Allow 30 to 48 inches of width for major traffic routes and a minimum of 24 inches of width for minor ones.

Try to direct traffic around a seating group, not through the middle of it. If traffic cuts through the middle of the room, consider creating two small seating areas instead of one large one.

6. Aim for Variety

Vary the size of furniture pieces throughout the room, so your eyes move up and down as you scan the space. Balance a large or tall item by placing another piece of similar height across the room from it (or use art to replicate the scale). Avoid putting two tall pieces next to each other.

7. Build in Contrast

Combine straight and curved lines for contrast. If the furniture is modern and linear, throw in a round table for contrast. If the furniture is curvy, mix in an angular piece. Similarly, pair solids with voids: Combine a leggy chair with a solid side table, and a solid chair with a leggy table.

8. Design for Ease of Use

Place a table within easy reach of every seat, being sure to combine pieces of similar scale, and make sure every reading chair has an accompanying lamp. Coffee tables should be located 14 to 18 inches from a sofa to provide sufficient legroom.

9. Allow for Circulation

In a dining room, make sure there’s at least 48 inches between each edge of the table and the nearest wall or piece of furniture. If traffic doesn’t pass behind the chairs on one side of the table, 36 inches should suffice.

In bedrooms, allow at least 24 inches between the side of the bed and a wall, and at least 36 inches between the bed and a swinging door.

10. Do Your Planning

Give your back a break. Before you move any furniture, test your design on paper. Measure the room’s dimensions, noting the location of windows, doors, heat registers and electrical outlets, then draw up a floor plan on graph paper using cutouts to represent the furnishings. Or, better yet, use a digital room planner to draw the space and test various furniture configurations. It’s less work and a lot more fun.

Filed under: Blog, Boca Raton real estate, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home decorating, Homebuyer Advice, Interior Design, Real Estate, Real estate trends, Relocation, South Florida Real Estate by Kim Bregman
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What Home Buyers Can Learn From a Seller’s Disclosure Statement

Any responsible buyer wants to know everything about the home they’re buying before signing on the dotted line. After all, this is probably the biggest purchase you will ever make, so due diligence is a must. The majority of the real estate agents in Florida are Transactional Agents and do not owe the Buyer a fiduciary duty, An Exclusive Buyer Agent does and will work for the buyer to determine all the information known about the property and advise you on inspections, permit searches, etc. Reviewing the Seller’s Disclosure is the first step in this process.

A Seller’s Disclosure in the State of Florida Is a standard form that is essentially a checklist in which a seller indicates the condition of the different features of a property, any known problems affecting the property, and any pending legal issues. This could include things like knowledge of lead-based paint, water damage, pest damage, past repairs, past insurance claims, any history of property line disputes, etc.

Typically, a seller’s disclosure form is filled out by the seller along with their listing paperwork. When buyer’s agents go into the Multiple Listing Service (MLS) to look up potential properties for their clients, that disclosure statement should be available or can be requested from the listing agent.

I am increasingly running into situations wheretransactional brokerage firms are taking the position that since a Seller’s Disclosure is NOT required by law that are not asking the sellers of their listings to fill one out. The first line of the SPDR provides “Notice to Licensee and Seller”; the less they know, the easier it is to make a “deal”. They are relying on the fact that other transactional agents working with buyers will feel the same and not ask for a Sellers Disclosure.

Although sellers aren’t required to complete this specific SPDR form, a residential seller does have to comply with the rule established in Johnson v. Davis. In that case, the Florida Supreme Court held that “where the seller of a home knows of facts materially affecting the value of the property which are not readily observable and are not known to the buyer, the seller is under a duty to disclose them to the buyer.” These material facts are sometimes referred to as latent defects. In addition, in Rayner vs. Wise Realty Co. of Tallahassee, the First District Court of Appeal provided that this same disclosure requirement applies to residential properties that are being sold as is.

In cases were the listing agent does not provide a Sellers Disclosure I request that the Seller answer all my questions in writing and provide a comprehensive list of questions that encompasses everything asked on the SPDR and more.

A seller’s disclosure form is NOT a substitute for a home inspection. Remember, sellers are required to disclosure only problems they know about. Most homeowners don’t go in their attic very often, and have probably never been up on their roof, and they aren’t required to do so before filling out the disclosure. While this document can provide a lot of valuable information, the home inspection is another layer of protection for a buyer.

The importance of this disclosure statement is just one of the many reasons why it’s critical for buyers and sellers to use an Exclusive Buyer Agent ( EBA) during any real estate transaction. EBAs are up-to-date on the latest laws and regulations and are very experienced with the complex documents and paperwork. They can help walk buyers through the disclosure so they understand all aspects of the home they’re buying and recommend the appropriate home inspections ( WDO, Radon, Leak Testing, Mold, and more) to ensure that any hidden defects are found in advance of the purchase.

Filed under: Blog, contracts, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, home Inspections, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, Real estate trends, South Florida Real Estate, Uncategorized by Kim Bregman
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Electrical Safety Tips During the Holidays

Decorating your home is one of the most enjoyable parts of the holiday season. Because electricity is involved with so many holiday decorations, it’s important you follow a few simple tips to keep your home and family safe.

Checking your decorations and electrical equipment for damage is one of the most important things you can do to stay safe this holiday season. Before plugging anything in, inspect electrical outlets to ensure they aren’t loose, damaged, or cracked. You should also look for damage to your decorations themselves, like cracked bulbs and frayed electrical cords, and refrain from using decorations with these problems.

Avoid overloading your electrical outlets. If you’re using incandescent light strings to decorate your home or your tree, never plug more than one of these strings into a single outlet. Also, don’t plug multiple high-wattage decorations into one outlet. Either of these decorating missteps can easily overload the outlet and increase your risk for a house fire.

Buy the right decorations. When you’re shopping for your indoor and outdoor decorations, look for items that have been certified by an independent testing laboratory. This means a decoration has been successfully safety-tested.

Lastly, make sure you unplug your electrical decorations whenever you leave your house and when you go to sleep at night. Many electrical fires occur when homeowners are asleep or out of the home, so taking this extra precaution is an important safety tip.

If you want to enjoy a safe holiday season, follow each of these electrical safety tips. Using electrical decorations responsibly can help protect your family from harm while you also transform your home for the holidays.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, Uncategorized by Kim Bregman
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Equifax Breach: What To Do Now?

As data breaches go, this is one of the most extensive.

What steps should you take now in response to the massive Equifax data breach?

The sensitive information of almost half of all Americans has been compromised, all because the company safeguarding that information reportedly failed to upgrade and update software despite being warned to do so.

To make it worse, company execs sold millions in stock after the breach, but before they told the public what had happened. The company continued to sell consumers like you pricey identity protection packages, even though they knew they were guilty of exposing that same consumer data to hackers. And it seems they suffered another hack earlier in the year but failed to notify us of the potential damage.

No wonder consumers feel helpless as they try to protect themselves from identity fraud.

Here’s what you should you be doing now in response to the Equifax breach.

Read up

The Federal Trade Commission (FTC) has put together some very helpful and comprehensive background information on the Equifax breach, chock full of consumer tips. You can read that guidance here.

Do a test

Visit the Equifax website www.equifaxsecurity2017.com to see if your personal data has been exposed.

Here’s the how-to’s from the FTC: “Click on the “Potential Impact” tab and enter your last name and the last six digits of your Social Security number. Your Social Security number is sensitive information, so make sure you’re on a secure computer and an encrypted network connection any time you enter it. The site will tell you if you’ve been affected by this breach.”

Monitor your credit

If you’re affected, sign up for the year of free credit monitoring that Equifax is offering. Even if you are not affected, you should monitor your credit to make sure no one else is taking out loans in your name. (Many big-name credit card companies offer free credit monitoring as a cardholder perk. Use it).

Once a year, you can get a free copy of your credit report from each of the three major bureaus (Experian^®, Equifax^®, TransUnion^®) at annualcreditreport.com.

Here’s some additional advice from credit card lender Capital One: “It’s important to review all three reports—some lenders don’t report to every bureau, so they may have different information. Read through each report carefully and make sure you recognize the accounts. If something strange turns up, start by contacting the lender to investigate. For more info, take a look at this article on checking your credit report.”

Practice safe financial habits

Keep a close eye on your finances by reconciling bank accounts and credit card statements monthly, shred financial papers, change passwords often, use different passwords for different financial accounts, be careful what you click on, and practice safe computer habits.

It’s not a bad idea to enroll in purchase notification programs with your bank or credit card providers. They’ll alert you by text or email if there are large or unusual purchases in your accounts. Some even let you lock or unlock your card via mobile app. (I’ve got some funny stories to share about the purchase alerts I’ve gotten for my college age kids. Definitely TMI).

Fraud alerts and freezes

There’s been a lot of talk about fraud alerts and freezes. Putting afraud alert on your credit reports lets potential lenders know what’s going on, explains Capital One, and alerts them to take extra steps to verify your identity before issuing credit in your name.

According to Capital One, “you only need to notify one of the three credit reporting companies to put a fraud alert on your credit report and they’re required to tell the other two companies. Make sure you keep copies of all letters and renew the alert every 90 days until the issue is resolved. You can also check out the Federal Trade Commission’s website for more information.”

A credit freeze provides more protection but is time-consuming. A freeze restricts access to your credit report. Without reviewing that info, few lenders will open a new account for you. “This makes it harder for potential thieves to apply for credit or open accounts in your name,” says Capital One. However, freezing your accounts may involve service charges, takes time on the phone or online, and can get in your way the day you want to buy a new car or make some other consumer purchase using credit. To learn more about credit freezes, click here.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Real Estate, real estate news, South Florida Real Estate by Kim Bregman
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7 Legal Tasks to Do When You Move

The Internet is full of checklists and resources to use if you are planning to move. There are packing timelines. There are lists of packing supplies. There are even directions on how to pack boxes.

But moving is much more than purging and organizing your personal affects. There are legal tasks you need to take care of too.

Here are 5 legal tasks to complete when you move:

Read your leases: Review your current lease to make sure you will not get into trouble for leaving. You are responsible for paying rent for the entire lease term, even if you have vacated the premises. If you need to move before the lease term is expired, read the lease to see if you can sublet or assign to a new tenant. Check your new lease for these terms before you sign it. And make sure you complete these tasks to protect your rights as a tenant.
Protect yourself with insurance: Thoroughly read any contract with a moving company before you sign it for delivery times and insurance coverage. Moving companies are required to provide some moving insurance. But you may wish to purchase more. You should also consider renter’s insurance or homeowner’s insurance.

Notify your creditors: Update your address with all of your creditors to ensure you do not miss a payment. And be sure to complete a change of address with the United States Postal Service and request that your mail be forwarded to your new address.
Keep receipts if you are relocating for a job: You may be able to write off your expenses if you are required to relocate more than 50 miles due to a job change. Review the Internal Revenue Service’s requirements to qualify for this tax break.
Update your estate plan: State laws governing wills and estate plans differ. If you move to a different state, update your estate plan.
Register your vehicles:If you’ve moved states, provinces or countries, register your car and get a new driver’s license, tags and/or plates for your vehicles. Check your local DMV for more information.
Register to Vote: Again, if you’ve moved cities, it’s important to make sure you’re on the voter’s registration for your local area. You should also make sure you’ve updated all important files and documents with your new address.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Real Estate, Real Estate Closings by Kim Bregman
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Flood insurance: Facts and Fiction

If a flood swamps your home, will insurance cover the damage? That depends on the value of your home, the amount of water damage and whether you have a flood insurance policy.

Let’s look at some persistent myths about flood insurance.

Myth: You must live in a flood plain to get coverage.

If you live in a flood plain, your mortgage company will likely require you to buy flood insurance. But you can purchase it even if you don’t live within a flood zone. “Almost anybody can get flood insurance who wants flood insurance,” says Chris Hackett, director of personal lines for the Property Casualty Insurers Association of America. The price through the federal flood insurance program is based on standardized rates and depends on the home’s value and whether or not it’s in a flood plain.

Myth: Flood insurance covers everything.

When it comes to the physical structure of your house, federal flood insurance policies top out at $250,000. If you have a $300,000 house that’s a total loss because of a flood, the most you can recoup through the program is $250,000 to cover the structure itself. For your personal possessions, the cap is $100,000 under the federal program.

Myth: My homeowners policy covers floods.

“Unfortunately, a lot of folks may be under the impression that their standard homeowners policy might cover flood damage,” Hackett says. But the standard policy does not! The typical home insurance policy doesn’t cover earthquakes or floods. So a homeowner wanting coverage for either of those disasters will need to pick up separate, specific coverage against those types of disasters.

Myth: Water damage is water damage. When it comes to your insurance, not all water damage is the same.

If there’s a storm and your “roof comes off and water comes through, that would be covered under your homeowners policy,” Hackett says. “Versus a flood situation where the water is rising from an over flowing riverbank overflows or an unnatural amount of rain that is rising from the street.

Myth: Flood maps don’t change.

Flood plains (and flood plain maps) change and evolve. Just because you weren’t in a flood plain when you bought your home a few years ago doesn’t mean you’re not in one now.

For more information, visit FloodSmart.gov.

Filed under: Blog, Exclusive Buyer Agent, Flood Insurance, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Homeowners Insurance, Insurance Claims, Real Estate, Real Estate Investment, real estate news, South Florida Real Estate by Kim Bregman
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Tips for Investors New to Flipping

Flipping is when real estate investors buy real estate and then resells them at a profit months down the road. Can you make money doing this? Yes.

Can you make a lot of money doing this? Yes.

But you can also lose everything you own if you make a bad decision….Absolutely!

A renovation can be an overwhelming experience with high stakes. Investors must create an overall vision for the project, gauge its financial feasibility, build a reliable team that includes a Realtor, contractors, lender, accountant, insurance agent, designer or architect, and attorney or Title Company, be highly capitalized, and hope that their assessment of the market is accurate and that the property sells quickly. The longer your cash is tied up and you are paying expenses the less profitable your investment.

Thanks to tighter lending standards you will need plenty of cash, and nerves of steel, to get into flipping. So what do you need to get started?

First, you need an excellent credit score. Lenders have tightened their requirements for home loans, especially if you want a loan for a high-risk house flip.
You need CASH! Use the cash for a down payment, so you don’t have to pay private mortgage insurance (PMI) on your second mortgage. You could also take out a home equity line of credit (HELOC), if you qualify. If you have enough in savings, and you manage to find a bargain-priced property, you can buy the property for cash, and take out a small loan or line of credit to pay for the renovations, Realtor fees, and closing costs.
A great way to get started flipping houses – especially if you have little money – is to form a joint venture with a partner who has money. If you don’t have the money, the joint venture partner will fund the deal while you do all the work. Although you may not get rich on your first deal, you’ll gain something even more valuable – experience.

What Makes a Good Real Estate Investment?

Finding an undervalued property in this market can be a challenge. With foreclosure rates down and bank owned property inventory drying up, there is a shortage of inventory compared to just a year ago. Utilizing real estate professionals will greatly assist you in finding suitable properties.

Location. Expert flippers can’t stress this enough. Find a home in a desirable neighborhood, or in a city where people want to live. Start by researching local cities and neighborhoods. Look for areas with rising real estate sales, employment growth, and good schools.
Sound Condition. You don’t want to tear the house down, and start rebuilding it from scratch. Look for structurally sound homes. You may not have the opportunity to have a home inspected, especially if you buy the home at a real estate auction. You need to learn what to look for, or bring someone knowledgeable about building, electric, and plumbing with you to look at the home, to determine if the home is structurally sound.
The Right Fixes. A home with old carpet and wallpaper may be easy, and cheap, to update. Other home repairs to tackle might include, replacing outdated kitchen and bathrooms, and replacing windows and doors. A house that has mold, needs a roof replacement, or needs rewiring, requires some serious time and cash to update and sell. Make sure you know which updates and repairs you can afford to fix, which repairs you can’t afford, and which home improvements will increase the selling price of the house. When you estimate the cost of any job, experts advise that you add 20% to the final estimate. Why? It’s always going to cost more than you think it will.
Value. Make sure the price of the home is below its value in the local market. Otherwise, you will not make money. The worst house in a great neighborhood has nowhere to go but up in value, due to the value of the other homes in the area. Know which home improvements increase the home’s value. Focus on these projects first. Home improvements that increase the value of a home might include upgrading kitchen appliances, repainting the home’s exteriors, installing additional closet storage space, upgrading the deck, replacing windows and doors.
Before you make an offer, make sure you know the uppermost price you can pay for a house, and still make a profit. This includes your estimate for repairs, interest, and taxes. Remember to pad your estimate by 20%. If the homeowner or bank won’t sell to you for this price, walk away. It’s better to keep looking, than to risk going broke from a bad investment.

Now Get Working

Make sure you know which home improvement projects you can complete quickly and successfully, and which projects will need contractors.
You need permits before you start remodeling. Not having the right permits, or not correctly displaying permits, can cause serious delays, and fines, from city inspectors. Make sure to apply for permits as soon as the sale is final. It’s also helpful to make a timeline for projects, with associated deadlines, and the budget listed for each project. This helps you, and your contractors, get renovations done quickly, and within budget.

Relist and Sell

Many flippers end up listing their homes with a Realtor. Realtors eat and sleep real estate, have access to buyers, and can list your house in the MLS database. They also know the current market fluctuations, and have the skills and network to get you the best price quickly.

Final Word

Without a doubt, flipping homes offer great risks, and great rewards. A house flipper must be prepared for the possibility that the home won’t sell right away. House flippers also have to make tough decisions, like whether to accept an offer that is less than they wanted, but still for a profit. If you can handle all of the ups and downs, and you have the time and enthusiasm for fixing up and selling homes, then house flipping might be right for you.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, Real estate trends, South Florida Real Estate, western north carolina real estate by Kim Bregman
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Prepare for Hurricane Matthew’s Aftermath

As Hurricane Matthew churns through the Atlantic with a possible landfall in Florida, the Property Casualty Insurers Association of America (PCI) urged property owners to take some basic precautions to protect themselves and their belongings.

“With the potential for Hurricane Matthew to hit somewhere along the East Coast, the Governor has issued a state of emergency for all 67 counties in Florida,” says Logan McFaddin, PCI Florida regional manager. “This caliber of a system could bring major flooding and damages along Florida’s East Coast.”

In addition to making sure residents have emergency kits and plans ready, PCI urges residents and business owners to take precautionary measures to prevent damage to vulnerable property. Flooding from storm surge during hurricanes and tropical storms can be especially dangerous for residents along the coast and further inland. PCI recommends that homeowners who sustain damage report it as early as possible to their insurance company.

McFaddin says flood insurance is advisable, but “there is typically a 30-day waiting period between the date of purchase and when flood coverage will go into effect.”

PCI hurricane precautions

Review your property insurance policy, especially the “declarations” page, and check whether your policy pays replacement costs or actual cash value for a covered loss.

Inventory household items, and photograph or videotape them for further documentation. Keep this information and insurance policies in a safe place.

Keep the name, address and claims-reporting telephone number of your insurer and agent in a safe and easily accessible place.

Protect your property by covering all windows with plywood or shutters, moving vehicles into the garage when possible, and placing grills and patio furniture indoors.

Keep all receipts for any repairs so your insurance company can reimburse you.

Check with your insurance adjuster for referrals to professional restoration, cleaning and salvage companies if additional assistance is needed.

Make sure watercraft are stored in a secure area, like a garage or covered boat dock. A typical homeowners policy will cover property damage in limited instances for small watercraft, and separate boat policies will provide broader, more extensive property and liability protection for larger, faster boat, yachts, jet skis and wave runners.

There will certainly be an extended period with power outages. After the storm, empty out your freezer and refrigerator of all perishable items and put in covered trash receptacles. Unplug all appliances and electronics since there will certainly be surges when power is restored.

Be mindful of downed power lines when going outside after the storm. Broken branches can also be dangerous and will continue to fall given the winds and rain that follow the storm. Remove debris from your property to ensure continued safety.

Filed under: Blog, Exclusive Buyer Agent, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, real estate news, South Florida Real Estate by Kim Bregman
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What a Home Buyer Should Never Say!

Always know who the real estate agent you are working with represents. If they are the Listing Agent they represent the Seller, a Transactional Agent works for their personal benefit and even though an agent will put you in the car and drive you around and are not the listing agent, in most states they are Sub-agents for the Seller and work for the seller. It is most advisable for buyers to only work with Exclusive Buyer Agents (EBAs). If you find that you are at an open house or have called an agent and they are not an EBA…you’re your tongue. What buyers may innocently say in the presence of a Seller, Listing Agent, Transactional Agent, or Seller’s Sub-agent can be used against them during a negotiation.

While it may be tempting for buyers to say what’s on their mind during their home search, you should consider yourself in a poker game and keep your cards close to your chest and your comments to yourself. There are some things home buyers should never say on the fly.

Others may be listening. Listing agents, seller and neighbors all have motives to keep tabs on the situation — or there could be even be a camera or recording device planted somewhere. In the age of smart home security you can never be too sure.

Those off-the-cuff comments made while moving from room to room could be used against you.

Here are some obvious comments home buyers should never say when shopping for a home:

‘I love it; it’s perfect!’

That feedback goes straight to the seller.

When the less-than-full-price offer comes in and the buyer requests all sorts of concessions, how will the seller be inclined to respond?

‘That (decor, furniture, wall color) is awful!’

What were they thinking?

So maybe the sellers’ tastes are not what the buyer would pick, but that doesn’t make their choices wrong. If these comments get back to the sellers, their desire to be cooperative when offer time comes in my be less than enthusiastic.

‘This home is way overpriced’

Be careful with that statement.

While this is a common buyer thought, what happens if this house ends up being the best option? When the listing agent or seller sees the buyer’s name on an offer, they immediately tart off in a defensive position. If is is truly overpriced your Exclusive Buyer Agent should provide a comprehensive analysis during the negotiation to make this point.

‘I can afford to spend up to X’

While it’s certainly a good idea for prospective buyers to find out just how much they can afford, they should keep that information strictly between them and their Exclusive Buyer Agent. You would be surprised by the number of deals that end of at the top of your affordability range because you disclosed this to the agent that is driving you around. Insist that they develop a Comparative Market Analysis and pay no more than market value for any property regardless if you can afford to pay more. Most real estate agents have a duty to get the highest price offer for the Seller or want to get the highest price offer to get the most commission. The only type of agent that has a fiduciary responsibility to the Buyer is an Exclusive Buyer Agent, even an Accredited Buyer Agent will either be a transactional agent or sub-agent of the Seller if they are not the listing agent as well.

“Why is the Seller moving?”

This is a personal question that’s best not asked by a buyer, it will more often then not result in an evasive answer or a lie.

Let the buyer’s agent position that query with the listing agent in a diplomatic way to glean information about the situation at hand.

‘What are the neighbors like?’

Talk about putting someone on the spot. Listing agents likely have no idea — they don’t live in the neighborhood 24/7, and it would they cannot discuss race, religion, sexual orientation, etc. When cornered, is the seller likely to divulge?

“There’s a Mrs. Kravitz across the street and a curmudgeon next door? And by the way, the teenager that lives on the other side of the house? His band starts warming up in the garage about 11 p.m. on Thursday nights.”Hardly. These people are trying to sell their house. It’s all wonderful. Buyers have to assess the neighbors on their own. Visit the neighborhood and different times of the day and on the weekends to get a sense of the neighborhood.

‘Will the seller take X price?’

Negotiations are best left to agents with a written document from which to work. No Agent or Seller will be inclined to negotiate in good faith without a written offer and Proof of Funds or a pre-qualification letter that demonstrates your ability to buy the property.

Although it’s OK to be candid with your own agent and those you trust, only do so when you are not within earshot of anyone in the seller’s camp. That includes those curbside chats as you are wrapping up the showing near your car.

Be engaged but conservative in the information you share and how you react to homes you see, even if you have a real interest. You can jump for joy when you are with your agent writing the perfect offer.

Filed under: Blog, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Kim Around the Web, Real Estate, Real Estate Closings, real estate news, Real estate trends, Relocation, South Florida Real Estate, western north carolina real estate by Kim Bregman
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