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The following are key points that will help buyers and sellers learn the 10 steps to become savvy consumers. Ideas and statistics presented here are from the 8:00 am show that aired on May 4, 2019, on KHOW630.
The hosts of the Barry and Larry Show, along with Kathleen Chiras, a regular commentator on the show, share the how to be a smart consumer and find the best agent. An upcoming boot camp will happen next week that aims to teach consumers on the 10 steps to home buying and selling. Read through the article for more details.
6th of the 10 Steps to Become Savvy Consumers
6th Step: Reviewing and receiving offers
Host: Don’t let price be the only factor. There are other things in the contract that may as many big effects as the price.
When looking at offers, price is not the only consideration. It is usually one of the most important factors, but consumers must also consider other factors such as contingency.
Author comment: Contingency a provision in a real estate contract that makes the contract null and void if certain circumstances were to occur. In other words, “conditions”. Either the buyer or the seller can propose a condition in a contract. Contingencies can be used by the buyer to get out of the contract with the seller. However, buyer contingencies can be a huge negative in a strong seller’s market. The seller is likely to move on to an offer without contingencies.
3 Common Real Estate Contingencies
- Appraisal Contingency – Typically, the lender in a real estate transaction chooses an appraiser to determine the home’s market value. If the appraisal comes in at less than the purchase price, the buyer will have the right to cancel escrow without penalty.
- Home Inspection Contingency – The home inspector will give a full run-down on the home’s issues (and potential issues). It gives the buyer the right to inspect the property. If there’s anything wrong, the buyer can ask the seller to fix it, adjust the offer, or even back out of the deal.
- Financing Contingency – This contingency protects buyers and sellers from being completing the transaction when there’s no approved financing in place. Buyers will have a certain period to get a loan that will cover the mortgage; if the buyer can’t secure financing within that time frame, he/she can cancel the deal with earnest money intact.
Listen to the radio show here:
Host: Sellers should minimize the number of contingencies and require removal of contingencies as early as possible. They will only have a secure contract once all contingencies are completely removed, resolved or accepted. Timing is also important. In Colorado, there are 25 contingencies in a standard residential sale a purchase contract.
Contingencies and conditions are negotiable. The hosts of the show also encourage consumers not to put in contingencies that aren’t important.
In line with knowing the 10 steps to become savvy consumers, a boot camp will happen on May 18th. These are repeated periodically throughout the calendar year. The event is organized by the hosts of the show, Barry and Larry. Chiras, the CEO of the Buyer Agent Search will also be present to answer questions and help interested consumers find the best agent for their real estate transactions. The boot camp aims to help consumers become educated about the real estate buy or sell process and be in control of how that goes.
Interested participants may use the contact form at BuyerAgentSearch or call Skyfor’s headquarters office at 800-383-7188 to make sure a seat is reserved.
Finding the best real estate agent
What is the selection process done by the Buyer Agent Search service to find the best agent?
“Interviewing at least two agents and having a good set of interview questions are the top priorities. The selection process is already a bit simpler when people contact me because I’ve already gone through many agents throughout the United States to select ones that have good credentials, good experiences, and good track record.” Chiras said.
Chiras then sends out the agents’ profiles to the consumers and this is where they will take charge. Chiras encourages consumers to look at their profiles and provides a list of interview questions that they can use.
“I always encourage consumers to customize that list based on their own specific needs. Identify who you are and what your circumstances are. The more details you have, the more easily you can match yourself up with the best agent.” Chiras added.
Host: This is a great service because going to a community where you don’t know anybody, finding the right agent will be very difficult. You’ll be relying on people’s recommendations such as friends and family, and generally, those recommendations are not as good as an objective service.
The Buyer Agent Search service has a wide network of top-performing agents throughout the United States. This trusted and hassle-free consultation service is at no cost. To start looking for highly-qualified buyers and seller agents, feel free to visit the inquiry page at this site. Consumers can also call anytime to discuss and match top agents based on their needs.