Any major purchase requires research, careful analysis, consideration, and thought. Home buying isn't any different! Determining the right location, the number of bedrooms or bathrooms needed, and outdoor space is the easier things. However, there are many other factors to think about in your home search. From your initial search to the moment you get the keys to your new home, I will be there, guiding you through the process. I can even help connect you with mortgage professionals to get the best rates.
As an area expert, I can help educate you on the different neighborhoods, schools, and other local community amenities that suit your lifestyle.
I am also a Certified Texas First Time Home Buyer Specialist. This means if you are a first time home buyer, veteran, or home buyer that has not owned a home within 3 years, the "My First Texas Home Program" could provide down payment and closing cost assistance up to 5% of the sales price, expanded low-rate mortgage loan opportunities which include government and conventional 30 year fixed rate mortgage options, and a direct mortgage tax credit up to $2,000 on your individual tax return (dollar-for-dollar) on a qualifying mortgage over the life of the mortgage. More information can be obtained from the Texas Department of Housing and Community Affairs Website. Contact me to find out if you qualify.
Of all the steps in the buying process, selecting the right agent is of significant importance. Not all agents are alike and choosing the wrong agent could be costly. Start with agents that have the designation Realtor®. They are held to a higher standard. In real estate there is a term known as agency. Basically agency is a fiduciary relationship that arises when one person (buyer) manifests assent to another person (an agent) that the agent shall act on the buyer's behalf subject to the buyer's control. The underlined noun fiduciary is a person entrusted with property or power for the benefit of the buyer. The adjective fiduciary is used to describe the type of duty or capacity a person is operating on. To simplify my point, in the Texas Real Estate Commission rules, an agent acting as a fiduciary owes the buyer (client) loyalty and disclosure as opposed to a customer who is only owed fairness and honesty. In fact, a buyer's agent owes the buyer (client) obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care. Why is this important you ask? A good example is let's say you are looking on a real estate website (Realtors.com) for example. You see a house that you and your spouse want to go check out. An agent contacts you to arrange a showing. You arrive at the house and meet the agent and off you go taking a tour of the house. Without a buyer's representation agreement any information beyond oohs and ahs can be shared with the sellers. Any discussions regarding price, pre-approval, the fact you need a house quickly, that your willing to pay full price or more for this house, etc... is all fair game to the seller. See without a buyer's representation agreement, that showing agent respects you as a customer, not a client, and is acting as a subagent for the seller. The agent is not acting only in your interest. In order to establish agency, you must appoint the agent (broker) to act on behalf of you by executing a Buyer's Representation Agreement. The best part for having a Buyer Representative (Realtor®) is it is no cost to you. In most cases, the buyer's commission is paid by the seller.
Determining property values depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approaching pricing assignment from all pertinent perspectives. Rick Allen Realtor® is a National Certified Price Strategy Advisor. There are four main valuation services used n residential real estate transactions: The comparative market analysis (CMA), appraisal, automated valuation model (AVM),and broker price opinion. Your REALTOR® will focus on the CMA and AVM in determining the price (buying or selling for your home). Did I say buying or selling? That's correct, the National Association of Realtors® Code of Ethics and Texas Occupational Code require a REALTOR® to perform a CMA not only for the seller but to also protect the buyer from overpaying or making a low ball offer. The purpose of a CMA is to establish a price range for a property that a seller wishes to sell and a buyer wishes to buy. A well researched CMA will ensure that a listing is priced correctly and more likely to sell quickly. A CMA allows buyers to make offers based on objective data relevant to the specific market. I will use the CMA to help sellers establish a relevant market price to prevent languishing days on the market and buyers from overpaying or potentially losing a home due to a low ball offer.
Home Buying Can Be Easy
As your buying agent, I can help streamline the process of buying a home and make it easier for you. I’ve aligned myself with the top professionals in the industry, and once an offer has been accepted, I will personally help facilitate the process to close on the home. By working closely with mortgage brokers, title and escrow companies, home inspectors, and home warranty companies I will provide you with the best service possible! If you are seeking home loan pre-qualification or home loan pre-approval, send Rick Allen Realtor® a message to obtain lender recommendations.
Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood!
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