Real Estate: Buyer's Agents

When choosing to sell their property, most home owners contact several Realtors after researching agents in their area. They ask their friends and family for recommendations and interview possible realtors to make the best choice. They understand that it's important for the successful sale of their home to choose someone who has experience in home sales, knows their area and is connected to a network of potential buyers. Most home owners recognize that their house is on of their main, if not their primary, asset, which motivates them to take the selling process very seriously. However, few buyers put this kind of due diligence into finding a buyer's agent. Many of them simply fall in with a buyer's agent and rarely stop to consider whether they are the best person for the job.

Buyer's agents assist the home buyer in a myriad of ways from securing financing to understanding legal documents and closing paperwork. They help the buyer find a home of their liking, negotiate a sale price and ensure that all of the parties involved have the proper documentation on the day of closing.

When it's time to choose a buyer's agent, make sure you know what you want. For instance, some agents do real estate part time or as a second job, which may mean that they will have less time to show you homes. A realtor with a staff of five people might have plenty of manpower devoted to your housing search, but you may generally communicate with assistants instead of the realtor himself. You may also want to ask prospective agents how many clients their working with to determine how much time they will have for you personally.

Once you have made a decision, your realtor may want you to sign an agreement stating that you will work exclusively with them. This may seem a bit uncomfortable, but it's important to remember that your realtor is doing a lot of work behind the scenes, not to mention using their own money to drive to houses that you might be interested in buying while also spending time showing you homes. You can request an agreement that is shorter term in case you decide that you don't want to work with the agent further down the road, but do remember to respect the financial and time commitment devoted to your home purchase.

If you're considering buying a home in the East Lansing or Greater Lansing area please contact me at MyRealtorRob. As a Realtor with Tomie Raines, I can quickly help you find homes that fit your needs and wants while also assisting you with financing, understanding market values and connecting you with other housing resources.

Chase Offering Mortgage Relief...Finally

If you're one of many homeowners who has attempted to refinance your mortgage in the last several years with Chase, or any other large lending institution, you've probably been through the ringer. Many people discovered, after months of haggling with their mortgage companies, that they still lost their homes despite attempts at getting current on payments or working out refinancing options. Fortunately, the $25 billion dollar settlement between the nation's five biggest banks and the attorneys general and federal government means that Chase and several other banks are now offering refinancing options that actually make sense.

Chase has declared $4.2 billion in mortgage relief to homeowners, which they will accomplish by either reducing mortgage principals or lowering interest rates. The settlement offers more credit to those banks who modify more loans in the first year so Chase has moved quickly, assembling a team to sift through tens of thousands of loans and identify homeowners who qualify for one of the relief options. For the most part only those owners who owed more on their homes than they were worth or who were delinquent on their mortgage payments qualified.

Chase has already begun sending loan modification letters to homeowners. In fact, CNNMoney highlighted Michelle and Bob Irwin who received a surprise letter from Chase informing them that their  interest rate would be slashed and their monthly payment would be reduced by $229 a month. This was especially good news for the Irwins who were 20 months behind on their mortgage payments and fearing foreclosure.

This is also good news for many other homeowners who may see similar letters arriving from their own banks. It's also a positive shift overall for an economy and a housing market that appear to be gradually shifting back into the positive.

If you're a resident of East Lansing or the Lansing areas of Michigan and would like more information about buying a home, selling a home, or getting approved for a home loan, please contact me at MyRealtorRob. As an East Lansing realtor, I can offer you a free market analysis and help you determine how to get the most money for your home right now.