BUYERS
A Standard Operating Procedure for Prospective Home Buyers
Buying a home is one of the decisions in life that requires thoughtful consideration. How to properly go about buying a home can be a daunting notion since buying a home isn’t something one does often. The process can be confusing with so many matters to consider carefully.
Contained within our website are many written articles and resources that you will find invaluable as you begin the process of buying a home.
To begin the process of buying a home, we have developed a standard method of operation to insure a positive and joy filled experience.
For sake of security, there are a few simple things that will be essential to initiate the process of finding a home.
A driver’s license or photo ID will be necessary. You’ll be asked to show identification if you apply for a mortgage, as well. When a buyer presents a purchase offer on a property, sellers are reassured that the buyer making an offer has secured a pre-approval from a mortgage lender. Therefore, to best position yourself in purchase offer negotiations, you will be advised to secure a pre-approval from a reputable mortgage lender.
We will present you with several documents to carefully read through and sign such as a New York State required “Agency Disclosure”. The agency disclosure states for whom a real estate agent is working. As a prospective purchaser, you will benefit tremendously by working with a “Buyer’s Agent” to represent your interest in the purchase of a home. There are several fiduciary responsibilities a buyer’s agent must uphold to a buyer, all to a buyer’s benefit. A Buyer’s agent has, without limitation, the following fiduciary duties to a home buyer: Reasonable care, undivided loyalty, confidentiality, full disclosure, obedience, and a duty to account. A buyer’s agent does not represent the interest of the seller.
There is a written agreement between the broker and the prospective purchaser called an “Exclusive Buyer Agency Agreement” which sets forth a buyer’s agents’ responsibilities, the scope of the broker’s responsibilities, fair housing matters and compensation, among other items.
Please feel welcome to navigate through this website to learn about the entire process of buying a home.
Please feel welcome to contact me and I will respond to you at my first opportunity.
Mark Phoenix Licensed Real Estate Broker/Owner
Mark Phoenix Realty, LLC
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