Q&As
- What is the difference between a real estate agent and a real estate broker?
- What steps do I go through to buy a house?
- How long does it take to buy a house?
- I want to buy a house. I know the property and the seller has an agent. Do I need my own agent or can I negotiate a lower fee if I act as my own agent?
- How much does it cost to use a Buyer’s Agent / Realtor / Broker?
- Working with FHA/203B, RD, VA, Section 184, 203K, Conventional, HELOC, and other types of financing?
- Real vs Personal Property
- Mortgages for Manufactured Homes
- What is a CMA, Appraisal, and AVM?
- Can the Buyer purchase personal property from the Seller?
- Can a mortgage be used to purchase a mobile home?
- What are the basics for handling multiple offer negotiations?
- Are husband and wife required to apply jointly for a mortgage?
- How do I prepare for a cash purchase?
- Do I need flood insurance?
- Where can I research flood maps / areas?
- To whom should I write the earnest money check?
- Should I buy a residential service agreement (i.e. home warranty)?
- Assuming you’ll be obtaining mortgage financing (i.e. not paying cash), here’s a list of steps to buy a house:
- Do I also need an attorney?
- How does the MLS help buyers?
- What is the MLS?
- What’s the difference between a Pre-Qualification Letter and a Pre-Approval Letter?
- When do I apply with a mortgage lender?
- What is Owner’s Title Insurance (OTI)?
- What is Lender’s Title Insurance (LTI)?
- What is title insurance?
- What does a title company do for Buyers?
- How can Harrah Realty help me as a Buyer?
- How much does it cost to buy a home?
- Do you work with out of town clients?
- Can you help me purchase or build a new home?
- Do you work with First-Time Home Buyers?
- What is a lease purchase or an option purchase?
How does the MLS help buyers?
Here are several benefits of searching for homes in the MLS:
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The most accurate information
- Third party websites prefer quantity over quality and therefore don’t have the most accurate inventory.
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Most up-to-date information
- New listings and price changes get entered into the MLS first and then third party websites get the information after a delay. Then it can take some time for the public-facing information to reflect these updates.
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Seller-paid buyer’s agent
- The amount may be the same, more, or less than your service agreement, but in order to be listed in the MLS, the seller must offer compensation to the buyer’s broker.
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Reliable information and pictures
- Often helpful in deciding to not visit
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One place with thousands of listings
- It’s more convenient for you to search one site than half a dozen
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Residential Property Condition Disclosure
- Often immediately available to your REALTOR®.
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More realistic asking prices
- Listing agents, like everyone else, don’t want their time wasted so they’ll often not agree to list a considerably-overpriced property, plus they provide comparable sales information so Sellers can make an informed asking price decision.
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Each party is represented by their own broker/agent.
- Transactions go more smoothly with one or more agents involved, staying organized, legal, and in good communication.