Most seasoned real estate agents have seen it all when showing homes to potential buyers: sinks full of dishes, worn-out carpets and all manner of creative paint schemes.
If you’re getting your home ready to go on the market, your agent will probably give you a list of things to do before buyers start coming through the door. But what are some of the things you should NOT do? We asked three Long & Foster agents to share their tips.
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We’ve had a recent situation which has brought this to our attention:
Have you noticed, or been told, that attorneys are less likely to accept cashiers checks, or require that they be delivered 24 to 48 hours in advance of closing? In essence, it has to do with fraud.
As you know, we are seeing a lot of fraudulent occurrences in real estate these days. Apparently there is the opportunity for a person to withdraw a cashiers check within a certain period of time once it has been issued. In documented cases, people are showing up to settlement with a cashiers check, going through closing, and then withdrawing the check before it can be deposited and approved for payment.
As a result, attorneys are being advised that they should avoid this type of payment, or require it in advance of settlement, in order to avoid these possible situations. I was also not aware of this change in precedent, but this is what is taking place at the moment. Note that all office policies may be the same.
Our business is extremely susceptible to fraud because of the high dollar value being transferred. The people committing fraud are exceptionally skilled at it. It is reassuring to know that our attorneys are on top of the latest trends, keeping all of us safer from this abuse.
Please consider sharing this with your buyer-client early in the contract process. I trust this will help them understand the situation and be a little more patient with current trends. These are difficult times for all of us; fortunately our attorneys are being cautious in order to protect everyone involved. Something we can all appreciate.
Please contact me with any questions
It wasn’t long ago when state and local associations, and consumer advocates, began examining “buyer agency” in real estate transactions; this lead to adopted legislation which now mandates the disclosure of agency representation to consumers by licensed real estate professionals. The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in a transaction. Buyer Representation, AKA “the buyer’s agent”, allows for purchasers to have their interests represented throughout the course of a home search, and the eventual purchase of a property. We are no longer subject to a system in which agency representation only supports the Seller. Increased demand from consumers, and years of experience from Realtors, has enabled purchasers to enjoy a professional advocate who only works for them and their interests. Why wouldn’t you choose to have this type of assistance when purchasing your next home?
Just a few of the benefits you’ll receive include expert guidance, objective information and opinions, expanded search power, negotiation knowledge, transactional expertise, career experience, and your anchor during emotional moments. Not to mention that your understanding and satisfaction with a real estate transaction increases when you have your own representation. In most instances it costs you as the buyer very little to have representation, and will very likely save you money and anxiety along the way.
Talk to a buyer’s agent about assisting you with your next real estate transaction, and find out in detail the benefits of receiving the personal representation that years of experience has made available to you. The conversation is free; the knowledge you’ll gain from it is priceless!