Purchasing Real Estate


Purchasing Real Estate has MANY advantages. Whether you are a first time Buyer or a seasoned real estate investor, you want your investment to be stable & strong.

REALITY CHECK:

In recent marketing, buyers have been encouraged to shop around "without an agent to avoid paying a realtor's fee." We at Alcove would encourage you to do the same thing if it were not so misleading. Market knowledge is the key to locating the good deals...& that's our job!!

If you do not use a Buyer's Agent, you will most likely pay more money for your purchase.

  • A Buyer provides MOST of the money to close a transaction....usually ALL of it.

  • The Broker's commission is pre-set between the listing broker & the seller. This is non-negotiable for the Buyer.

  • You will pay that full commission whether you have a Buyer's Agent to represent you or not.

  • Do you want ½ of that commission representing your better interests or 100% of it working for the seller's best interests?

  • Not hiring a Buyer's Agent to represent you is like hiring your opponent's attorney to help you win your court case.

  • A Seller's Agent or a Sub-Seller's Agent is required by law to extract information from a prospective buyer & relay it to the seller.

    • A Good Buyer's Agent will:

           
  • screen the market for you
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  • educate you on your market options
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  • gather information to help you make an informed decision
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  • ensure you are treated in a legal & ethical manner by all parties
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  • will help you assess your property needs, wants & wishes.


    • Touring Neighborhoods & Properties:


    After we provide you with property lists in your budget range decide which properties are in the neighborhoods you prefer. Once you have made your selections, we will make the appointments at times that are mutually convenient. Together we will tour all of the property on your selection list until you find the right one. Finding the property is the easy part!


    Number Crunching & Data


    As your Agent, our job starts when you find the right property for you, your family or for your investment. When you've made a final choice, we will prepare a Market Analysis to demonstrate a property's probable range of value.

    The price you pay will depend on many things:
           

  • Market Conditions        
  • Amount of available inventory        
  • Number of Buyers in the marketplace        
  • & many other factors effecting your offer & purchase price


    The Offer Process:


    When you are ready, we will help you make a written offer on the property you have decided is right for you. The offer will contain all terms, conditions and contingencies to protect your interests. For your protection, your offer should include any additional or specific concerns to be addressed in advance with language provided by your Attorney.


    Negotiations:


    Possible negotiating strategies will be reviewed with you & you will receive our professional advice and guidance. Range of Value, Counter-Offer possibilities, Multiple-Offer strategies, What & How much to ask for, terms that are flexible or fixed. Every Decision is yours to make. Your instructions will be followed. If the Negotiation is not successful, you will be advised to continue your search. The process will begin again and new lists will be provided to you. If your offer was successful, our job is to ensure that all signatures & initials are complete. Copies will then be given to you, your Lender, your Attorney and anyone else you deem appropriate.


    Due Diligence:


    Inspection Process begins. You may select any Inspector you wish or ask for recommendations. This is your opportunity to have an objective professional opinion & we will supervise the inspection itself.


    Professional Service Fees:


    Professional Service Fees are paid to us at the closing from the proceeds of the sale at the same time the bank, the attorneys & all other service fees are distributed. Buyer's Agents are usually paid from the Listing Broker who offers the property for sale on behalf of their Seller. A Buyer's Agent receives a 'Success Fee' paid through the proceeds of a sale usually by the Seller's agent. This fee is usually a piece of the original commission that was pre-negotiated between the Seller & the Seller's Agent. If we do not help you purchase a desired property, we are not paid for our time & energy.