Buying a home? First Time or Experienced?
Julie Raese, LLC
Coldwell Banker-Success
608-751-1958
Your Real Estate advisor and consultant!
CONTENTS
Buyer Agency Information
Mission Statement and Credentials
What Do You Know As A Buyer?
Inspectors
Local Utility Companies
Home Protection Plan
Website Information List
Mission Statement and Credentials
Coldwell Banker Presidents Elite-Top 4% agents nationwide
Top Agent in Janesville office, 2004, 2005, 2006, 2007, 2008
3rd in Rock County Multiple Listing Services in sales volume 2008
President Rock-Green Board of REALTORS 2006-2007
REALTOR of the year-2007 (Voted by peers)
Over 21 years full-time experience
Accredited Buyer"s Representative (ABR designation)
Graduate Realtor Institute (GRI designation)
Certified Residential Specialist (CRS designation)
GMAC relocation specialist
Member Presidents Circle-Coldwell Banker-Success
Member of BNI (Business Networking International)
Member National Association of Realtors
Member Wisconsin Association of Realtors
Member of Coldwell Banker-Success sales team with over 23% market share in Janesville
Services Provided for the Buyer
Exclusive Buyer Agency
Julie Raese, LLC
Your Real Estate Advisor
Qualify the buyer for financing to determine which lender will be best suited to the buyers needs
Determine the needs and preferences of the buyer by conversations and actual showings.
Exclusive to you daily HOT SHEETS property updates showing up to the minute price changes and new listings.
Locate homes available in the style, price, and location for the buyer to preview using MLS, Internet, networking and signage.
If building a new home, negotiate construction from the lot purchase to the building of the home.
Assist the buyer in making a decision, prepare the contract and follow all details.
Assist the buyer with appropriate inspections
Use my 21 years of negotiating experience and my full-time expertise
Keep up-to-date with the best financing available
Handle any and all complications that occur throughout the buying process.
Analyze property title to insure clear title to buyer
Concierge service-over 200 companies available to service you.
Follow up after the sale to offer free market analysis every anniversary.
What do you know as a buyer?
This is a sample of the many questions you need to be familiar with when purchasing a home.
Representing buyers, I answer these questions and many more to ensure a successful closing for you.
What is earnest money?
How much earnest money do you need?
What happens to the earnest money?
What items, if any, are normally included in the sale price?
What is a fixture?
Where does your closing take place?
What is normally prorated at closing?
Between Buyer and Seller, who pays closing costs?
What form of Title does the seller provide?
What is winter winterization? Do you need it on your home?
What is the time frame to receive the property condition report?
Can you object to items found on the condition report, if so, how many days after receiving a copy do you have?
Is a faxed, signed copy of the contract binding by both parties?
Who is responsible for paying special assessments on a property?
How do you find out if the asking price for a home is the current market value?
Who normally pays for the home inspection, is it required? How much should you be charged?
What does an inspector look at?
What is a Radon Test? Is it required?
When is a licensee a buyer's agent?
To be a buyer?s agent, a broker must have a written agency contract (WB-36) with the buyer. Absent this written contract, the agent working with the buyer is the agent for the seller, owing the agent?s first duty of loyalty and faithfulness to the seller, subject to the requirements in s. 452.133 (1).
When must a licensee discuss agency with a potential buyer?
The current rules require that a licensee must provide the Wisconsin-mandated agency disclosure to a potential buyer prior to negotiating an offer.
Why are real estate licensees acting as buyer's agents?
The practice of buyer agency has grown substantially over the past 15 years for a number of reasons:
Buyers are requesting the licensee to act as the buyer?s agent and in the buyer?s best interest, as opposed to the seller?s interest.
Buyers have been instructed to do so by others, such as family or employers.
Some transactions may require the licensee to act as a buyer?s agent, such as when representing a relative, a close friend, or a business partner.
Buyer?s agents can sell ?for sale by owners? without having a listing contract in place.
How are buyer's agents paid?
Buyer's agents can be paid in one of three ways: by the buyer, by the seller, or by the listing company (co-broke).
Buyer's agents can negotiate their fee directly with the buyer and not be limited to the fee offered by the listing broker.
A few years ago, the Real Estate Board created a task force to discuss and establish guidelines for buyer agency.
In fact, the task force established a well-defined set of guidelines that delineated the practice that are allowed for both a buyer?s agent and a sellers? agent (subagent) when selling real estate.
Remember, real estate licensees acting as a buyer?s agent or seller?s agent, are limited in their performance as an agent by Wisconsin law.
Can a licensee recommend an offering price or give an opinion of the seller?s asking price?
Seller agent: No
Buyer agent: Yes
Note: Basically a seller?s agent can only quote the list price, but a buyer's agent can suggest an offering price and provide supporting market information on pricing.
Can a licensee give a negative opinion or critique of seller?s property (beyond disclosing defects)?
Seller agent: No
Buyer agent: Yes
Note: Here again, an agent acting as a seller?s agent is obligated to work for their principal, the seller, and present the property in the best light. A buyer?s agent is not so governed.
Can licenses disclose the existence of other offers or pervious offers (but not the terms)?
Seller agent: Yes
Buyer agent: Yes
Can a licensee disclose the seller?s motivation to sell (without the seller?s permission)?
Seller agent: No
Buyer agent: No
Note: For an agent acting in either capacity to make such a disclosure would violate the confidentiality requirements in 452.133(1) d), stat.
Can a licensee reveal seller?s willingness to accept a lower price (without seller?s permission)?
Seller agent: No
Buyer agent: No
Can a licensee recommend and assist buyer in negotiation strategies?
Seller agent: No
Buyer agent: Yes
Note: Here it must be noted that an agent acting as a seller?s agent owes their first duty to their principal, the seller. Only a buyer?s agent may offer strategies benefiting the buyer.
Can a licensee disclose confidential information about the buyer?
Seller agent: No
Buyer agent: No
Note: The exception to this issue is in the requirement for the buyer?s agent to disclose to the seller anything that might be detrimental to the seller (Example: a recent bankruptcy)
What are the acceptable levels for Radon?
When do you require Radon mitigation? How much is it?
How much time is normally allowed for a finance contingency?
What mortgage lenders have the best rates and flexibility if you have questionable credit?
Who is responsible for paying loan-closing fees?
What are the most common lender, title company fees?
Can you terminate a contract?
What are ?escrows??
Do you need a GAP endorsement?
What is merchantable title?
What is a bump clause used for?
Can a seller continue marketing their home after you have a signed offer to purchase?
Who pays the escrow and how much is it?
What is the right to cure? How many days do you have?
How much does an inspection cost?
When do you need a secondary offer?
Is a home inspection all you need on a property or are their other important inspections to consider?
Do you receive a HUD statement?
What is a defect defined?
When is a lead base paint addendum required?
What is the current appreciation average for houses in Rock County?
How do you find out who pays points?
What are prepaids?
When during the year are taxes due?
What is the current asking vs. sales price average?
What can make a home title defective?
What is a perc test?
Who needs to receive a comfort letter?
When it comes to lender fees, what are the most common costs to charge?
What is PMI/MIP?
Recommended Inspectors:
Home Inspectors/Radon Inspectors
Jim Fleischmann
Eagle Eye, LLC Home Inspections
608-757-9299 (Business)
608-751-6651(Mobile)
jim@janesvillehomeinspection.com
http://www.janesvillehomeinspection.com/
Gary Getchel
Home Pro Inspection Service
868-7997 (Business)
homeproinspection@charter.net
Well and Septic Tests
Rick Bergandal-- (608) 754-7816
Mike Nehls Excavating ?(608) 754-6679
Fanning Excavating-- (608) 754-6100
Aqua Well and Pump Services-- (262) 542-3331
Termite Tests
Charlie Fisher Pest Control--608-754-1386
Local Utility Companies
Gas and Electric Service:
Alliant 1-800-862-6222
Rock County Electric (608) 752-4550
Cable
Charter Communications 1-800-581-0081
Direct TV 1-800-308-8885
Dish Network 1.888.825.2557
Phone
SBC Ameritech 1-800-924-1000
Charter Communications 1-800-581-0081
McLeod USA 1-800-909-3012
Sprint 1-800-877-7746
Verizon 1-800-483-4600
Water and Sewer
Janesville Water Department 1-608-755-3090
Milton Water Department 1-608-868-6910
Websites with a Wealth of Information
Real Estate Information:
www.JuliesSellsJanesville.com
www.Realtor.com
www.CBSuccessRealty.com
www.ColdwellBanker.com
www.WisconsinHomes.com
www.visualtours.com
Mortgage Information:
http://sviken-johnsonbanklo.mortgagewebcenter.com/Default.asp?bhcp=1
http://mprestil-anchorbanklo.mortgagewebcenter.com/
http://www.associatedbank.com/PersonalBanking/MortgageResourceCenter/Mortgage/
http://www.bhccu.org/loans/mortgage.asp
http://www.firstamericancu.org/
Wisconsin Schools:
http://www.dpi.state.wi.us/sig/index.html
Wisconsin Resources
http://www.wra.org/Consumer_Resources/About_Wisconsin/WI_resources.htm
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