Home Buying @ MindSay

As you'll recall, last week I purchased a latte from my local shop that was served to me sans coffee.  Well, today they made up for it.  Today I got a pumpkin spice latte that was lacking both pumpkin and spice!

I think I need to find a new coffee shop.

After all of the work... after the $1000 fees that come in various incriments to people all over the place... we lost it.  Our condo agreed apon price was $56,500 and then the appraiser only appraised it at $45,000.  Oh, we can still get the mortgage my loan officer tells me, we will just have to come up with the $11,500 out of pocket on top of 20% to be able to avoid paying the PMI; therefore, she will not write the letter to tell the sellers that my financing fell through so I can get back my earnest money.  Appearently they get to keep it.  When we looked at the condo there had not been any activity for buying and selling the condo complex for about 6 months, and now 2 condos with twice the square footage sold for just over $50,000... I guess it doesn't matter what condition those condos were in it doesn't matter that the condo we wanted had tons of upgrades and came with all the appliances... I don't think the appraiser even drove past the unit... just push numbers.  That is the job that I want now sit in one place and decide things that change people's life for $500 a pop; never having to get out of your seat or actually look into the unit... now there is a job.

So they get to keep the money???  For what... They had to have known that the house would not appraise for that much and still they will not budge on the selling price.  I feel like I have been coned... like this couple puts their house on the market every so often and walks away with earnest money and the other stupid $100 fee I had to pay them.  THIS SUCKS!

I am suppose to have the movers come and get our stuff on July 12, but I am sure that they will need an address to delivery our items to.  What am I suppose to do?  I am up in the air... stuggling to keep it together; hoping to make Jason feel like everything is going is going to work out perfectly... but are we just suppose to get an apartment over the internet... I have tried to pick a place to live based on the stupid pictures on the internet it doesn't work.  So here we are... ready to go, ready to start a new chapter, ready to pursue the new adventure, but of course there are snags.  Sometimes I try so hard to be in control that when things go out of control I sort of freak out.  I am lucky to have Jason here, because no matter how hard I try to take care of Jason I think most of the time he is taking care of me.

what if the lake gets so filled up it reaches my house and i drown because i forget how to swim? on the plus side, there's a tornado warning. my gosh! how fun is toronto?


i got to walk home in the rain. coxwell to the beaches, just so anyone who lives around here knows how far i'm talking about, lalala in the rain. i was going to skip but realized that would be insane, so i ran like a normal person.




and, like a normal person, i didn't have my key. and no one was home! so i was locked outside for two hours. about half an hour into my locking-out keag came down and we tried to get up to the roof outside my room and push open a window. well both of us falling out of a tree and one douse of climbing up the side of the house later, we made it in. only two seconds later did my dad come home and open the front door with his key.

now i have a big cut on my arm and i'm soaked.



and the promise of going school shopping, not "back to school shopping" people do, buying clothes and things. no. buying my no heels, no zippers, no high-tops, no open-toes, no anything remotely nice, school shoes. and binders, pencils, locker shelves, et cet. sanely enough, i'm not going. ha.

arrrggg!

exes&ohs.

What is a Buyer's Agent

A Buyer's Agent is a REALTOR whom you can contract to represent your interests as a home buyer.

In Pennsylvania, it is only recently that a prospective buyer could hire an agent to represent their side of the home buying transaction. What should a home buyer expect from a buyer's agent?

• Home buyers should be able to expect loyalty and confidentiality from their agent.
• The agent should promote your best interests and provide you with all available facts that could influence your decision about making an offer for a home. It is your responsibility, however, to let the agent know if they are meeting for information needs.
• A buyer's agent can offer research materials that help you make a realistic offer. They may even suggest numbers, but it is your money and your offer.
• A buyer's agent should give you the "what if" scenarios about the clauses in a contract. The agent may recommend additional contract contingencies to protect your interests.
• A buyer's agent should track and handle many of the day-to-day needs required to get to closing (such as inspections, helping you find a lender, tracking the progress of the loan, working with the closing attorney concerning any title issues).

Your Contract with the Agent

An exclusive buyer agency agreement normally ties you to one agent. However, that agent is also tied to you! For the agent to receive his/her paycheck, they must find the home you seek. At any time, if you feel your agent is not doing his/her best in this regard, contact the agent first and let them know of your dissatisfaction. Most contracts may be dissolved by a letter to the broker, but this may be discussed also before signing the contract.

A non exclusive buyer agency lets you have multiple buyer agents without altering standard contracts, but most agents won't work in that capacity, because they may not get paid for their efforts on your behalf.

• The contract should cover a specific time period agreeable to both parties.
• The agreement should be in writing with both party signatures and dates. It should outline the expectations of both the buyer and the real estate agent.
• The agreement can be far-reaching or cover listings only in a specific geographical area.
• The contract should address agent compensation. Buyer's agents are usually paid a portion of the seller's commission at closing, but not always. Ask how agents are paid in your area. What if you buy a for sale by owner property? Will you pay the agent's commission? If not, get it in writing now.

Clarify any questions you may have before you sign.

Your Buyer's Agent

When you contact an agent and find one you believe you an work with satisfactorily, verify that the agent can work as a buyer's agent. Some choose not to, and some are prohibited by state law.

Ask the agent to explain the services you can expect from her/him as your buyer's agent.

It is acceptable to ask for a blank copy of the buyer agency contract and take a day or two to study it. If some aspects of the contract concern you, ask the agent to delete or alter them.

Find out how dual agency is handled, or if it is legal in your state.

Don't let anyone pressure you into signing an agreement that doesn't feel right.

The Bottom Line

Don't sign a buyer agency agreement until you know the agent is the right one for your needs. Interview a few, from different brokers, if possible. Some states allow agents to initially work under an oral buyer agency agreement, but you'll usually need to put it in writing before making an offer.

An alternative is to allow the agent to work as a seller's agent until you feel comfortable signing an agreement. Do not disclose confidential information to a seller's agent!

Just like in your profession, there are good agents and there are better ones. I cannot stress enough the importance of finding one you can work with comfortably. In most states, advertising and marketing expenses come out of the agent's pocket, and every "laborer is worthy of his/her hire". Remember that agents do a lot of work behind the scenes. This is what you pay them a commission to do. Make sure he/she is working for you. Don't be afraid of the buyer's contract. Just be smart and know what to expect.  :)

Happy hunting!