SharpBuyers.com Adds Home Buyer Tools

Sharpbuyers.com is dedicated to educating home buyers by providing information and resources that are vital to helping home buyers better understand the home buying process. In our efforts to provide buyers with more data, Sharpbuyers.com has added a home buyer's tools page to the SharpBuyers.com website. The SharpBuyers.com home buyer's tools include a 10 step home buyers guide, links to local information about neighborhoods, schools, mortgage pre-approval, moving solutions and a mortgage calculator. We have also provided a link to the department of justice real estate rebate page where consumers can find information about real estate rebates. Sharpbuyers.com connects buyers to local Realtors who provide quality service and a rebate that can be used towards closing costs!

Sharpbuyers.com 10 Steps To Buying A Home

How to Buy a home Step By Step

For most people, purchasing real estate will be the biggest investment they will ever make. It is a decision that will have lifelong implications. These effects can be either positive or negative. This is why it is important to understand the key factors to consider before purchasing real estate. As a result, SharpBuyers.com has provided this 10-step guide to give you some insight about the home buying process.

Step#1 - Figure Out How Much You Can Afford

To find out how much you can afford, it is best to speak with a Mortgage Professional. I would advise that you go your primary bank first. Your primary bank is an institution you can trust and they should be able to answer all of your questions about financing. You can also talk to a Mortgage Broker. To find a good mortgage broker you should consult with you friends and/or family who currently own a home. After talking to a Mortgage Professional you will know weather or not you need a down payment, how much of a down payment you will need, your potential interest rate and all of the necessary criteria required to qualify for a loan. Once you choose your lender and provide them with the necessary documentation, you will be given a Pre-Approval Letter that states how much you can afford, your interest rate and the terms of the loan. Key Points: 1. Not all Lenders are created equal so it is a good idea to shop around. 2. Make sure you are given a Pre-Approval letter not a Pre-Qualification letter. 3. Beware of the bait and switch technique. This is when lenders get your attention by advertising an attractive interest rate only to increase it after you are locked in.

Step#2 - Choosing the Right Property For You

The decision of what type of real estate you purchase will consists primarily of , how much you can afford and your reasons for buying. After consulting with a lender, you will know what you can afford in terms of a Condo, Single Family Home, or a Multi-Family property. The questions you should ask yourself is "What are my goals for my real estate purchase?" This will help you better define what type of property suits your needs. The financial commitment is significant, and not every property fits the needs of its potential suitor, so it is important that you consider the goals for your real estate purchase, both short term and long term. For example if it is going to be your primary residence, you want to make sure it can comfortably accommodate your current and future family i.e. children or in-laws. If the market takes an unfavorable turn and it become difficult to sell then you can still live comfortably in your home until the market recovers. Key Points: Always consider the short term and Long term goals of your real estate purchase. It all stars with your reasons for purchasing real estate.

Step#3 - Finding a Home

Now that you understand the lending process and have narrowed down the type of property you are looking for, its time to start looking. So where do you start? I would recommend finding a local real estate professional. For help finding a realtor, log on to SharpBuyers.com. The best part about this is that it is free. You will have professional representation at no cost to you, and it will surely make the process a lot smoother. Buyers Agents are paid at closing by the seller. The total commission is split between the buyer's agent and the listing agent. If you choose a buyers agent through SharpBuyers.com, you can receive up to 50% of their commission at closing. It is truly the best of both worlds. Professional representation and money in your pocket. Key Points: It is best to hire a Buyer's Agent. It is free and it will save you time and money in the process. SharpBuyers.com will refer you to a local real estate agent that will provide professional assistance and a real estate rebate at closing!

Step#4 - Attorney or No Attorney?

As a real estate professional I would strongly advise all buyers to seek the advice of an attorney before entering into any negotiations. Real estate brokers and agents are professionals at finding an ideal home and negotiating the terms, but attorneys are experts at reviewing and explaining contracts. As a result, it is best to have an attorney review all contracts before entering into any agreements with the seller. The best way to find a good attorney is to ask your real estate agent. Real estate agents regularly work with a number of attorneys in many different capacities and know which attorneys will be best based on your specific needs. It is in the agent's best interest to recommend an attorney that they know is competent, trust worthy and focused on protecting their clients interest.

Step#5 - Your Offer, Negotion 101

Before placing an offer on a home you should know how much it is worth to ensure the listing price is in line with the actual value. Ask your agent to provide you with a CMA (Comparative Market Analysis). A CMA compares homes based on size, location, condition and several other factors to estimate the value real estate in a given area. As a result you will see what similar homes have recently sold for. This will give you a better understanding of the market and help you to better gauge your offer. It is also important to understand that everything is negotiable. For example if you see any furniture, appliances, a chandelier or anything that you like, include it in the offer. This strategy can sometimes give buyers more leverage when negotiating. Even if the seller does not want to sell their personal property, it gives you the buyer an additional negotiating point. It also is important to include contingencies in the offer as well. The most common types of contingencies are a mortgage contingency and an inspection contingency.

Step#6 - Home Inspection

A home inspection is an essential part of the home buying process. Every buyer has a right to have a home inspection and I highly advise buyers to take advantage of that right, even if it is new construction. It is best to ask your agent to provide you with a recommendation for an inspector. They work with multiple inspectors and will likely refer you to an inspector that is right for your needs. Purchasing real estate is the most significant investment many people will make during the course of their lives. A home inspection will validate that you are investing in a good home or uncover significant defects that you would otherwise not have known about until moving into the home. It is far more valuable to know what you are buying before you buy, then to invest hundreds of thousands of dollars into a property that is not worth it. So what happens when defects are discovered by the inspector? In most instances the buyer and seller come to a mutual agreement on how to deal with the issues. Sometimes the seller may agree to take care of the issues. In other instances the buyer may assume the responsibility for a discount in the price. It really just depends on the specifics of the defects. As a buyer, it is best to know as much about your home before you purchase it as possible.

Step#7 - Mortgage Application

Once of all the terms are finalized following the home inspection, it is now time to complete your mortgage application. The first step would be to inform your lender or bank that you have signed a P&S (Purchase and Sale Agreement). They will ask for a signed copy of the P&S along with other financial documents needed to complete your loan application. It is important to get this application in as soon as possible so the bank has as ample time to process your application. In accordance with the P&S, the bank must provide the buyer with a commitment letter or a declination letter by a specific date. The commitment letter states that the bank is going to give you the loan. The declination letter states that you have been declined for the loan and cannot purchase the property. If the lender does not supply this, they buyer runs the risk of forfeiting their deposit if they are not approved or declined for the loan within the given time. If you need more clarification on this, ask your real estate agent. Key Points: Make sure the your lender supplies you with a commitment or declination letter before the commitment date. If not you could end up losing thousands of dollars.

Step#8 Insurance Binder

After the bank provides a commitment letter, the only additional requirement is the insurance binder. Before the bank can complete the loan the buyer must purchase home owners insurance. It is best to get three quotes when shopping around for home owners insurance. The first quote should come from the provider of your car insurance. In many instances the insurance company will give you a discount for insuring your home and automobile with the same provider. You should also gets recommendation from friends & family and your Realtor. These are all sources that you can trust and it will insure you get the best. The insurance binder is then sent to the lender prior to closing. Now the funds are all set to be released on the specified closing date.

Step#9 - Reviewing The Settlement Statement

1-2 Days before you close, the closing attorney, who represents the bank lending you the funds, will provide you and the seller with a settlement statement (also called a HUD) for your review. It is important that you, your attorney and your Realtor review the charges, fees and adjustments to ensure everything is correct. The HUD will have all of the information such as the closing costs, tax adjustments, utility adjustments your real estate rebate and several other fees. It will also state the amount you need to bring to closing. Any funds brought to the closing should be done in the form of a certified or bank check. Note: The seller will have to make sure the home meets the local fire code and provide final utility bills prior closing.

Step#10 - Closing

So what do you need to bring to the closing? you will need at least 2 forms of identification, a certified or bank check for any additional funds and a good pen for all of the documents that you will be signing. The closing is typically attended by the buyer(s), seller(s), closing attorney, your attorney and the Realtors involved in the transaction. Your attorney will explain all of the documents to you prior to signing any of the disclosures at the closing. Once you are finished signing, you will receive your keys. Now its time to figure out how your going to spend your real estate rebate provided by SharpBuyers.com! Congratulations!

SharpBuyers.com Pays Buyers Closing Costs!

The Boston based Real Estate Referral Company, SharpBuyers.com connects home buyers throughout the United States with real estate brokers and agents that will provide full service representation and a real estate rebate that can be used towards paying buyers closing costs. Sharpbuyers.com agents will pay between 20%-50% of their commissions towards home buyers closing costs. The closing cost rebate varies based on how many properties a buyer sees accompanied by the buyers agent. The system is designed to provide buyers with the tools to become educated home buyers and rewards the most educated with a higher percentage of the commission. So why help consumers pay their closing costs through rebates? The internet has significantly changed the real estate industry as a whole. Websites like Zillow and Trulia provide detailed information to educate buyers and sellers on the home buying process and more importantly home values. With this type of data readily available, many consumers are far more educated on the home buying process than at any other point in recent history. That being said, not every potential home buyer needs or desires all of the assistance and access to information that brokers and agents typically provide. These buyers can usually locate their ideal home on their own. In most instances helping a buyer locate their ideal home is the most time consuming aspect of assisting a buyer, but if the buyer can successfully do this on their own, it only makes sense to reward them for their efforts. Brokers and agents are experts in the home buying process but only the buyer knows what home is right for them. An agents expertise is most valuable when it comes to negotiating an offer. Almost every buyer needs the assistance of a broker in properly placing an offer and navigating through the process from that point on. A lot can happen between the time an offer is placed and the closing. Thus, it is in every home buyer’s best interest to have an agent that will represent your interest once a buyer is ready place an offer. The agents in the SharpBuyers.com network are professional negotiators. Sharpbuyers.com has over 400 brokers and agents in its network. Collectively, these real estate professionals have negotiated thousands of deals. This accounts for invaluable experience. The brokers in our network include brokers and agents from RE/Max, Prudential, Coldwell Banker, EXIT and many others.

The Future of Real Estate Rebates in relation to home buyers.

As websites like Trulia and Zillow offer buyers more and more tools to make educated decisions in purchasing their ideal home, the pool of buyers that seek the assistance of Realtors is dwindling. Although the information on Trulia and Zillow may not be 100% accurate, many buyers see it as the real estate gospel and that is all that matters. If Zillow says it is worth X then its worth X. Innovative technology is great but the hard reality is that it is changing the real estate industry. With this in mind it is important to have products and services that cater to these buyers. SharpBuyers.com understands this dynamic and as a result, we offer the incentive of a real estate rebate to homebuyers. Some may call this selling out, but the in truth the real estate industry of tomorrow will require a different set of skills for brokers to succeed. Obviously quality customer service and an understanding of the industry are priceless but it will take much more than that to be a top producer 10 years from now. Here’s some food for thought: What good is it if you have all the knowledge in the world and no one to share it with?

A Quick Guide For Buyers and Sellers in the Spring Market

As we head into the busiest time of year for real estate sales, it is important for buyers and sellers to understand the market to ensure their ideal outcome. For buyers purchasing a home in the Spring Market, there is one rule that must be followed; Be First! Once you have established a wish list of the type of property you are looking for, you have to watch the market intensely. This means checking several times a day to see what is new to the market and scheduling a showing for the next available time slot. The key is to Be the First to view properties that fit your criteria and your budget. By viewing a property first you are able to make a decision as to whether or not you would like to place an offer or to continue looking. The reason that this is so important in the Spring is that the competition is very fierce. There are more buyers looking for a limited supply of select property, so you have to be quick, because once a good deal passes it may be moths before the next one will comes along.

For sellers, the most important aspect of selling a home is the price. If you want to sell your property quickly but at a fear price, watch the competition. Make sure you list your property just slightly below that of similar properties on the market and in you neighborhood. This will enable you to instantly stand out from the crowd and grab the attention of all of the potential buyers on the market.

Above all it is important for buyers and sellers to understand that all real estate is unique. That being said, it is important to follow these tips. They may seem obvious to some, but very few actually realize that following them will lead to a much more enjoyable spring versus another year of looking.

How Real Estate Rebates Will Stimulate The Economy

With the continuing news that the economy maybe slipping into a recession or currently is in a recession, it is time for consumers to seriously consider the reality of the current economic crises. Fed chairman, Ben Bernanke, has a grim outlook on the economy and continues to cut interest rates in effort to stabilize the housing market. On the urge of President Bush, The U.S. Treasury will be providing Tax Rebates between $300 -$1200 starting in May of 2007. The extra cash and lowered interest rates will help, but are these efforts enough to turn the economy around, or are we just putting a band-aid on a flesh wound and hoping that it will eventually heal on its own? Many economists feel that economic conditions are much worse than President Bush and Fed Chairman Bernanke are admitting. The reality is that these men are desperately doing everything they can, but it is just not enough. So what will be the catalyst for economic growth in the United State? Is it John McCain, or how about Barack Obama? We certainly need change, so maybe Obama is the answer? Or maybe it is something that will actually put thousands of dollars into consumer’s pockets.
What has the potential to do this you ask? Real Estate Rebates. Real estate is the cause of the current economic crisis, so it only makes sense that it be apart of the solution. In 2007 the real estate industry generated $55 billion dollars in real estate commissions. In addition to rate cuts and tax rebates, real estate rebates will put a substantial amount of money into consumer’s pockets. This will amount to billions of dollars that consumers can use for new furniture, home renovations, a new car, or anything else they may desire. The rebate can even be used to make mortgage payments. The bottom line is that real estate rebates are putting a significant amount of money where it belongs: in the hands of the people. The department of justice endorses real estate rebates and feels that consumers stand to benefit from the thousands of dollars they will each receive. To learn more about real estate rebates and how you can reap these benefits, visit www.shapbuyers.com. To see The Department of Justice’s endorsement of real estate rebates go to http://www.usdoj.gov/atr/public/real_estate/rebates.htm
Real Estate, Economy, Economic Crises, Ben Bernanke, John McCain, Barack Obama, Tax Rebate, Economic stimulus package, president bush

SharpBuyers.com The New York Real Estate Rebate

Sharpbuyers.com is pleased to announce that we now offer real estate rebates in the state of New York. Consumers in New York can now take advantage of huge saving on all of their real estate transactions. SharpBuyers.com will give consumers up to 50% of our commission in the form of a rebate at closing. This amounts to thousands of dollars in savings. In a statement released by the State of New York, Department of State, Division of Licensing Services on February 6, 2008, Real Estate Rebates were deemed as permissible in the state of New York. To read all of the details Click Here. Rebates are also fully endorsed by the United States Department of justice. In fact they state that rebates significantly benefit consumers in savings on buying or selling a home. Click Here to read the Department of Justice’s full take on Real Estate Rebates and Incentives.

Discount real estate services and real estate rebates currently make up about 2% of the real estate market, but as more and more consumers become internet savvy, it is widely anticipated that the demand will cause an increase in these services. The reason for this is that the internet makes it easy and convenient for home buyers to browse the market. On the flip side, it also makes it easier for sellers to list their homes on their own and engage the assistance of a real estate professional for specific services on a fee basis. The New York Real Estate Rebate will significantly change the real estate landscape and shake up an industry that has been dominated by the traditional one size fits all approach for decades. As more consumers become educated about the existence of these services, it will only be a matter of time before they dominate the market. Real Estate Rebates and Discount Services are the most significant changes to hit the real estate industry since the advent of buyer agency. This type of innovation is truly buzz worthy and will resonate with the consumers of tomorrow.

Here is how the New York Real Estate Rebate Works.
The first step is to contact SharpBuyers.com. After that, the steps are as follows.
Step 1: We connect you to a local realtor
Submit an inquiry online, or call us at 1.800.880.0468 and we will connect you to a local realtor that is a part of our network.
Step 2: You Browse
Once you are connected to a local Realtor, you will be equipped with the tools to look for properties online and set up showings to see what is on the market. You will receive email alerts, and property information that will enable you to narrow your search. Once you get a feel for what is on the market and what you are looking for, you are ready to buy. (We will provide you with full access to property listings including the property addresses.
Step 3: Now You are Ready to Buy
Here is where we step in. Once you are ready to buy we will assist you in setting up showings and inform the listing agents that you are working with us. This way they know we are representing you and we can give your commission rebate. We will attend showings with you, if requested, and equip you with business cards to give listing agents so they know you associated with a Buyer's agent. Our agents will show accompany you on up to 5 properties and give you a 50% Rebate, 6-10 accompanied showings will yield a 33% rebate, and 11+ showings will net you a 20% rebate.
Step 4: Offer & Closing
At this stage you will receive our full range real estate brokerage services. We will submit and negotiate your offer leveraging all factors including comps, location, time on the market and the overall condition. We will also advise you on the fair market value and negotiate any other desired terms into the deal.
Step 5: Enjoy your new home and some extra cash
Congratulations! Now you can sit back and enjoy your new home with some extra money in your pocket. Tell a friend and you will receive a $100 Rebate if your referral results in a closing.