The REALTOR® you work with could be one of your most valuable resources. Whether you are buying a primary home in Ludlow or looking for an Okemo vacation property, a William Raveis agent can assist you from start to finish. We are familiar with current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your buying process. In addition to knowing the market, your agent can help you through the entire process of buying your dream home.
Define What You Want
- Start by creating a prioritized list of features you want in your next home and the reasons why.
- Research area real estate listings in advance through a Multiple Listing Service to find the homes that are best suited to your needs. You can look at price, size, style, features, location, and accessibility to transportation, shopping and other personal preferences
- Your William Raveis Vermont Properties agent can help you in your search
Shopping for Homes
- Once you have identified some homes for sale that you may be interested in, it is time to start looking at some actual properties in person
- When comparing homes, make sure to look at all aspects of the property.
- Are the houses equally renovated?
- Do they have the same amount of bedrooms and bathrooms?
- Are the houses located in your target area?
- Meet with your real estate agent to schedule a tour of the properties
Making an Offer on a Home
Once you find the home you want, it is time to consider your offer. There are several factors in making the offer; your agent has the expertise to guide you in this decision, making an offer that you are comfortable with and one that will hopefully appeal to the seller. If the sellers agree with the price and terms contained in your offer, they'll sign it. Their agent should give you a signed copy of the offer immediately. When you actually receive a copy of the offer signed by the sellers, you have what's called a ratified offer (that is, a signed or accepted offer). This doesn't mean that you own the house or that it has been sold.
Remember that negotiation is an ongoing process. After your offer has been accepted, your property inspectors will gather information. When they've determined what is actually required in the way of corrective work, you, your agent, and the sellers can renew your negotiations armed with hard facts.
Once your offer is accepted you will need to set up, coordinate and interpret various inspections. This is a major step in the buying process and could expose potential problems. These may include a leaky roof, insect damage, or a foundation problem to name a few. These problems happen all the time but an experienced agent can work on negotiations between you and the seller to help resolve any issues while keeping the sale on track.
When you arrive at the closing, you can trust that your William Raveis agent has all the necessary paper work and deposits in order. If the necessary paperwork is not in place, the closing could be delayed. Once you close, it's official, you are a proud home owner.
You don't have to become an expert in property values, mortgages, tax and real estate law, title insurance, escrow, pest-control work, and construction techniques in order to be a successful buyer. Your William Raveis agent has the skills and experience to guide you in this process. You are the one who must determine how competent or challenged you feel with the various aspects of the home-buying process.
You: You are the most important player on your team. You know what you want; we will help you get it
Real estate agent: Buying a home is likely your largest investment. You need someone on your side to protect your interests. Your agent's primary mission is to help you find your perfect home and then negotiate on your behalf to get the best deal.
Real estate brokerage: All states issue two different real estate licenses: one for salespeople (agents) and one for brokers. Here at William Raveis Vermont Properties, your broker and entire team is always ready to work on your behalf.
Lender: You may need a loan to buy your dream home. A good lender offers competitively priced loans and may even be able to help you select the best type of loan
Property inspectors: A house's physical condition greatly affects its value. Your dream home should be thoroughly inspected from roof to foundation before you purchase it to ensure that you actually get what you think you're buying.
Lawyer: It is best to have an attorney involved in this process. An attorney review will help you avoid pitfalls. Remember, the purchase & sales agreement you sign when buying a home is a legally binding contract.
A great agent should be the foundation of your real estate team. Your William Raveis agent can help you find the property that meets your needs, negotiate on your behalf, supervise the property inspections, and coordinate the closing.
Your William Raveis Agent will:
- Educate you
- Enable you to make good decisions
- Have contacts
- Most importantly, has time for you
Understanding “Agency” or Who is Working for Whom
A Buyers agent:
- Represents the best interest of the buyer/client and puts their needs first
- Negotiate the best possible price for the buyer
- Show all properties the buyer is interested in that fits their criteria and budget
- Connect you with the service providers—inspectors, lenders, home warranty companies—to best suit your needs
You can expect your agent to provide:
- Undivided loyalty
- Reasonable care
- Obedience to lawful instruction
Types of Agencies
Non-Designated Agency – Your Agent:
- Can represent both buyer and seller equally (must obtain written permission from both parties)
- Remains objective is to reach an impartial agreement that is mutually satisfactory to all parties and remain neutral regarding any conflict issues
- Will provide all options to both buyer and seller, but refrain from advising any party during negotiations
- Ensures confidentiality to all parties
- Responsible for accounting funds
Designated Agency – Your Agent:
- Allows one or more agents within a real estate firm to be appointed as a designated seller’s or buyer’s agent. William Raveis Vermont Properties works as a team to provide you with continual representation
- Other agents within the firm may represent other buyers in the transaction with informed consent of each client
- Designated Agency does not change the way each agent works with their client
Our goals are simple -- to ensure that you're happy with the home you buy, that you get the best deal you can, and that owning the home helps you to accomplish your financial goals. Many people choose to eventually buy a home, but not everyone and not at every point in their lives. To decide whether now is the time for you to buy a house, consider the advantages of buying and whether they apply to you.
If you'd like more information about the home buying process, or if you'd like to schedule an appointment with one of our knowledgeable real estate agents, please contact us online or call 802.228.8877.