Buyer Representation Standards of Excellence
Real Haven Realty provides comprehensive buyer assistance for a seamless home-buying experience. From the moment we first meet a potential Buyer client, we are ready to serve, starting with:
The Pre-Search Process
Scheduling a time to meet Buyers (either in person, or via a video or phone conference)
Preparing Buyers Guide & Presentation
Meeting with Buyers and discussing their objectives and expectations – which includes:
Explaining Buyer & Seller Agency Relationships and the Texas Real Estate Commission Information About Brokerage Services form
Discussing different types of financing options
Providing information regarding trusted Mortgage Lenders
Explaining importance of obtaining a Lender Pre-Approval Letter
Providing an overview of current market conditions
Explaining our Value to our clients
Educating Buyers about local neighborhoods
Discussing the Buyer’s criteria for their next home
Explaining how school districts effect on home values
Explaining about recording devices during showings and
Providing a comprehensive overview of the home buying process, including:
Reviewing a purchase contract and the typical points of negotiation and key sections such as:
Title Policy Earnest Money & Option Fee requirements
Option Period
The importance of Surveys & Shortages in Area coverage
Home Warranty Policy
Non-Realty Items
Objections Homeowners Associations
Utility Districts
Sellers Disclosures
Preferred closing timeframe
Concessions/Repairs Addendums
Home inspection process
Typical closing costs and how they are paid
Once we are back in the office, it’s time to get busy! Just a few of the tasks we perform for our buyers include:
The Search Process
Setting up the Buyer(s) in our documentation management system
Sending out the Buyer Representation Agreement and associated documents for the Buyer’s signature
Acquiring a copy of the Buyer’s pre-qualification letter from the lender
Setting up the Buyer’s Concierge Search using their specific criteria
Reviewing and approving specific properties that meet the Buyer’s criteria for their review
Following up with the Buyer’s to ensure the approved properties truly meet their criteria, and adjusting the search if necessary
Scheduling showings based on the Buyer’s preferred properties, including:
Gather showing instructions for each listing
Send showing schedule to Buyers
Follow-up with listing agents with any questions
During showings, we:
Look for & highlight possible issues with the property
Highlight features that meet the Buyer’s stated criteria
Gather Buyer feedback Create a floor plan map (if one doesn’t exist) for properties where the client has shown strong interest
After showings, we:
Provide feedback to the listing agents
Keep records of all showings
Follow-up with Buyers on any properties they particularly liked to see if they are ready to make an offer
Regularly update Buyers when new listings hit the market
Share knowledge & insight about homes (including sellers disclosure notes, HOA and Condo Assn. fees, flood plains, etc.), neighborhoods, schools and other community features
Once our client has identified a home, or homes, they are thinking of purchasing, we perform a Comparative Market Analysis on the properties to help determine a competitive offer price.
Now that our buyer(s) have selected a process, It’s time to make an offer! Once again, we ensure each step Is fully explained and handled with a focus on details, including:
The Offer Process
Discussing & determining the offer amount, which is based on:
Comparative Market Analysis data
Property inclusions & exclusions
What the seller will pay for (title policy, survey, HOA transfer & certification fees, home warranty policy, etc.)
Whether it is a multi-offer situation
Amount of concessions needed (for down-payment assistance, commission coverage, etc.)
Other factors.
Preparing sales contract & associated addenda and disclosures
Updating Buyer’s Pre-Approval Letter (if needed)
Discussing loan objection deadlines
Choosing a closing date V
erifying listing data is correct
Preparing contract for Buyers’ signatures S
ending signed contract and associated documents to Listing Agent
Following-up with Listing Agent and facilitating negotiation and resolution of objections
Making any necessary changes and resubmitting documents to Listing Agent for Seller’s signatures
Executing Sales Contract & Disclosures
Once we have an accepted offer, there are more tasks to handle, and in this, Time is of the Essence, so It’s Important to note key dates on both the Realtor and Buyer calendar.
The Contract Process
Option Period (between 5-10 days):
Send Executed Contract to the Title/Escrow Company & Lender (cc: Buyer)
Coordinate payment of Earnest Money & Option Fee (within 3 days)
Get & save Receipted copy of Contract
Obtain copy of Sellers Disclosure for Buyers (if not already obtained)
Obtain a copy of HOA Bylaws
Coordinate Inspections with Buyers
Meet Inspector at Property
Review Home Inspection with Buyers
Negotiate Inspection Objections
Get all agreed upon repair items and concessions in writing
Execute Amendment for Repairs/Concessions (alternately, we may Extend Option Period or Terminate Contract by 5pm on the last day of the Option Period)
Pending Period (between 25-45 days):
Verify any existing Lease Agreements
Check in with Lender to verify Loan status
Explain property Appraisal process
Check on the Appraisal date
Negotiate any unsatisfactory Appraisal results
Explain Home Warranty options & ensure Buyer’s inform Title of their choice
Discuss transferable warranties
Estimate expected utility usage costs
Confirm water source and status
Coordinate closing times & location
Make sure all documents are fully signed
Verify Title company has everything needed
Remind Buyers to schedule utilities
Ensure Buyers have Binder for homeowners Insurance
Make sure all parties are notified of Closing time
Closing Period (3-5 days prior to Closing and Closing day):
Receive and review closing documents (no less than 3 days before Close)
Confirm repairs have been made by Sellers
Perform final walk-through with Buyers
Resolve any last minute issues
Attend Closing with Buyers Give keys and accessories to Buyers and CELEBRATE!
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