Virtual Real Estate Solutions : What you need to know as a Buyer, and why Representation is so important.

I know many of you think you can pull a classified ad and find the house of your dream. That you won't owe anyone anything and "its just easier ". But let me ask you a question ......If you had high blood pressure, would you go to a licensed Doctor or find maybe a med student to treat your blood pressure because its easier, maybe cheaper ? In Real Estate you are playing the same game so to speak. By walking into a home unrepresented and attempting to purchase a home, you just walked into a med students classroom, and asked them to give you all the facts ( true ) about your blood pressure, ,medications, side effects and long term effects. Did you know that most of homeowners currently selling their home have no real knowledge of what the laws are to protect you, themselves and what may be required of them when selling their home. Here are some things you should know :

Realtors are real estate professionals who have chosen to join the National Association of Realtors and abide by its strict Code of Ethics. What does this mean ? It means that any Realtor you work with has voluntarily agreed to abide by Code of Ethics based on professionalism and protection to the public. We, as Realtors are subject to disciplinary action and sanctions if we violate the duties imposed by Code of Ethics. Now, ask yourself, you are looking at a For Sale BY Owner, they want to sell their home, they know you have no representation, have you asked them what their duties are to you to protect you, your rights ? Their primary concern is to sell their home, and at what cost I ask myself. Here is a small example. Recently, I had a home listed and under contract. Prior to closing here in TN it is the LAW to obtain a clear termite letter and inspection.

Problem # 1, The home was infested with termites. The wood was already eaten through and the inspectors hand went through the subfloor due to damage.

Problem #2, We couldn't close on this house until the home was treated and every bad piece of wood was replaced !

Problem #3, When the owners purchased this home, the seller simply told them Yes, I had the home treated for termites about a year ago. Now, this couple only owned the home for 4 years. They had no idea termites were eating them out of house and home and $2500 later we were able to close.

What the buyers should have had, was Representation. Because your Realtor would have known to ask for proof that the home was treated and NOT with a do it yourself kit at Lowes or Home Depot. As an agent it is our responsibility to protect you and your rights while purchasing a home. This can protect you for years to come, not just in the here and now.

When purchasing a home these are the things you SHOULD have inspected :

Structural Parts of house and other appurtenant buildings.

Square footage, don't take the owners word for it, measure it !

Heating and air conditioning system

Electrical Systems

Plumbing Systems and hot water heater

Sample the water , test for pollutants ( well )

Septic tanks , whether active or abandoned

Storage tanks-oil, gas chemical ( above or below the ground, active or abandoned )

Appliances ( especially if they are staying )

Equipment

Fireplace ( wood, gas or decorative.

Basement

Flooding or drainage problems

Mold, moisture damage, fungus, pests

Synthetic stucco - EIFS ( exterior insulating finishing system

Environmental issues ( radon gas, lead based paint, asbestos, carbon monoxide, formaldehyde, power lines, wetland

Appraisal

Survey

Home warranty Program

Owners Title Insurance

Seems like alot. Well it is ! These are the things Realtors look for, and advise the potential buyer to have inspected. Your new home is your home, your future. You may be raising children in this home. Make sure that your home is safe for not only you but your child. Some of these things can be very harmful if not fatal. They are important, they protect you and the lives in which you will be residing in this home. It may seem easier to not use a Realtor, for whatever your reasons are but is it really ? Do you know how to do all these things, would you feel intimidated by doing them or asking them in fear maybe the home owner won't sell the house to you ? Many feel this way, so they don't ask questions, they simply sign a piece of paper saying they are buying as is.

Protect yourself and your family. HAVE REPRESENTATION...thats easier !