The National Association of Exclusive Buyer Agents was formed in the mid-1990's in an effort to offer home buyers full representation in real estate transactions. Recent efforts to decouple real estate commissions could dramatically alter buyer representation, leading...
home buying basics
Episode 45: Listen Up Home Buyers – Consumer Federation of America’s Steve Brobeck
Before House Hunting, Choose Your Attorney and Inspector
We recommend that house hunters choose an attorney and an inspector -- and a back-up for each -- early in the house hunting process. That way, when you find a house and start making an offer, you are not scrambling to interview attorneys and inspectors during a busy...
Don’t Skip the Home Inspection
A few months ago, my clients and I attended an almost perfect home inspection. They were purchasing a classic 1940s Cape Cod that had been meticulously maintained. The only issue the home inspector found was a loose faucet in one of the bathrooms. Most home...
Is that Condo a Good Investment?
A condominium can be an excellent first home purchase. Condos tend to be smaller and less expensive than a single-family home. Buying a condo can be a good way to start building equity in a home. So what do you need to know? What is a condominium? A condominium...
What Does ‘Completely Remodeled’ Mean? 6 Things to Look For
There's an expectation when you see the phrase "completely remodeled" in a home listed for sale. 'Remodel', according to the Merriam-Webster Dictionary means "to change the structure, shape, or appearance of something". When the phrase "completely remodeled" is...
What Security Features Should House Hunters Look For?
When on the hunt for your dream home, there are a few security features you should pay attention to. We've outlined the key points below: What should a house hunter know about locks? I took this picture in a condo building. It was the kind of building with one hall...
Friends don’t let friends hire dual/designated agents
When a real estate brokerage serves both the buyer and the seller, what can go wrong? The seller's agent, who must get the best price for the seller, is the same company that must get the best price for the buyer. Legally and structurally, companies are run by a...
Illinois First-Time Home Buyer Grants & Loans
Regardless of real estate market conditions, first-time home buyers need to know what loan programs and grants are available to help as they begin the home buying process. If you do your homework, there are many programs and grants available to first time homebuyers...
Yes, you need a home inspection.
Avoiding a Big Mistake and Still Being A Competitive Buyer One really big mistake the house hunters are being talked into is waiving your home inspection. Why do you need an inspection? If you hire an experienced exclusive buyer's agent, you have the backing of...
Don’t Waive Mortgage Contingency
1. Most of the time, if you have a documented pre-approval, you will get your mortgage, so a mortgage contingency is not really necessary, right? Wrong. It is only unnecessary if: You can afford to lose 5-10 percent of your purchase price. The mortgage contingency...
What is the Best Offer?
What is the Best Offer? Whose interests are being served by rushing offers and accepting offers that close the fastest? Some of the time, the seller wants and needs a quick closing. Some of the time, the seller's agent is advising their client to take the easy deal,...