Eraka’s Tips

After getting to know you and your needs, Eraka’s intuitive talents and her knowledge of the homes, land and investment properties available in our market make it easy for her to quickly find the properties you are looking for.

BUYER BROKER

A buyer’s broker is a real estate agent hired by the buyer to represent his or her interests. Traditionally, real estate agents have listed property for sale and formed a legal relationship with the seller. Buyers who desire to have their positions advocated, and have the agent negotiate on their behalf, can now hire agents to represent them.

The buyer’s agent can be paid by anyone—the buyer, a third party, or could receive the co-broker (selling broker) share of the commission offered by the listing broker through the multiple listing service. This last method of compensation is typical in a high percentage of buyer agent sales nationwide.

The advantages to the buyer in establishing this type of a relationship include gaining the technical expertise to negotiate and the fiduciary confidentiality and trust of a broker. A buyer’s broker will perform a market analysis and advise the buyer on his or her offer. A buyer broker can also assist in creative financing that is in the buyer’s interest.

THE HOME BUYING PROCESS

When you’re ready to think about buying or selling your property, you need to ask yourself the following questions: Do you have the time, energy, sources of information, and contacts to do the job yourself? If you are one of the ‘do-it-yourself’ people, would the results be as good or better than the would be if you had professional assistance? Would it have gone smoother? Would it have given you more personal time? Would you have purchased for less, or sold for more, REALTOR® like ERAKA SIMS was involved? Read the following information and learn how a ERAKA SIMS can help you understand everything you need to know about a real estate transaction.

The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. If you give ERAKA some basic information about your available savings, income and current debt, ERAKA can refer you to lenders best qualified to help you.

FINDING

Once you know how much you can and want to invest, the next step is to find the properties that most closely fit your needs. This is the time for ERAKA to assist you in that search. ERAKA has several resources that con assist in this search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by ERAKA your REALTOR® to find all available properties.

SELECTING

Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. ERAKA can assist you in the selection process by providing objective information about each property.ERAKA has access to a variety of information resources. ERAKA can provide local community information on utilities, zoning, schools, etc.through her resources. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell? Since ERAKA’s business is 90% repeat and referral business ERAKA; like yourself will want you to make the best investment possible.

NEGOTIATING

There are a myriad of negotiating factors, including, but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. There is an “Art” to negotiating. Some people feel I can do it myself ie. For Sale By Owner. Having the neutral experienced person like ERAKA is an asset. When you are directly involved yourself it is very easy to have personality conflits with the other party in the transaction and not look at things so objectively. Let ERAKA do the work for you!!!

DUE DILIGENCE

With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well test, just to name a few. ERAKA can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations, for example, easements (access rights) for utilities. ERAKA will put you in touch was a title company or attorney can help you resolve issues that might cause problems at a later date. Remember; Alabama is a “cavet emptor” state.

FINANCING

As soon as you are reasonable sure the property is right for you, the process of obtaining financing begins. ERAKA can help you in understanding different financing options and in identifying qualified lenders.

CLOSING OR SETTLEMENT

Finally, there is the closing, or settlement, as it is known in different parts of the country. Again, ERAKA can guide you through this process and make sure everything flows together smoothly.

WHY A REALTOR? WHY ERAKA???

All real estate licensees are not the same. As ERAKA always says; “Not all Realtors are created equal.” Only real estate licensees who are members of the National Association of Realtors are properly called REALTORS®. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again. ERAKA will always treat everyone equal. ERAKA wants to EARN THE RIGHT for you to refer her to your family, friends and use her for your real estate services over and over. Just as you have your family physician, attorney or clergy. You should have your own FAMILY REALTOR!!!!

USING A REALTOR…You Be the Judge!

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a Professional REALTOR®! CALL ERAKA SIMS TODAY!!!