Exclusive Buyers Broker Archives - Columbus Ohio Real Estate | Buyer's Resource Realty Services

4 Key Benefits of Fiduciary Representation for Columbus Home Buyers

RealSupport — Fri, 26 Jun 2020 08:21:43 +0000

Columbus home buyers have information at their fingertips, but buying a home involves more than browsing real estate websites. The truth is, without having your own Exclusive Buyer’s Broker representing you in the home buying process, you are at a disadvantage!

By the nature of the industry, most agents represent the seller when showing homes – no matter who owns the home, or what company holds the listing. In other cases, agents are “transaction facilitators” who offer no real representation to either the buyer or seller. Only an Exclusive Buyer’s Agent or Exclusive Buyer’s Broker provides Buyer-Clients with true fiduciary representation.

Unfortunately, many home buyers don’t realize what they’re missing, because they do not understand the significance of “fiduciary.” Here are 4 key benefits to having fiduciary representation. This is only a sample of what our Buyer-Client Service Standards contain!

1. Loyalty. We never place anyone’s interests above your own! No matter what home you choose, or who the seller is, we provide you, our Buyer-Client, with objective advice and expert guidance. We negotiate exclusively on your behalf to obtain the best possible price and terms for you. We never represent sellers, which avoids the conflicts of interest inherent in traditional brokerages.

2. Confidentiality. We never share your personal information in any unauthorized capacity. We never share your home buying motives, timetable, resources or budget with anyone else.

3. Reasonable Skill and Care. We make all reasonable efforts within our control to protect you from foreseeable risks. When necessary, we will recommend specific professionals for situations outside of our expertise. (For example, we are unable to provide legal advice, and will refer you to a qualified attorney for legal questions.)

4. Disclosure. We will explain local real estate conditions, as well as current real estate practices and processes. We will proactively share any material facts known to us that could affect your home buying decisions. This includes pointing out any adverse issues, flaws, or strong points about a home you are considering, objectively, without bias.

A traditional real estate agent cannot provide you with this depth of service and professional commitment. Having the true fiduciary representation of an Exclusive Buyer’s Broker is must!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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Should Columbus Home Buyers Use a “COVID” Contingency?

RealSupport — Fri, 22 May 2020 08:01:30 +0000

While the pandemic hasn’t stopped Columbus home buyers, some are questioning if COVID-19 contingencies should be in the purchase offer. As Exclusive Buyer’s Brokers, we’re happy to share our thoughts on the matter!

First, when you become our Buyer-Client, you get the benefit of our buyer-centric contracts. Our purchase contracts are designed to protect home buyer interests in virtually all market conditions and situations. Plus, we can include specific contingencies or addendums to meet your unique needs.

The contingencies we use are designed to provide the best possible buyer protections. For example, if an income loss causes your mortgage approval to be withdrawn, this would be covered under the Financing contingency. It short, it allows you to exit the deal, without penalty, if you are unable to secure financing for the home purchase. Whether the income loss is pandemic-related or not doesn’t matter.

If you are concerned about unexpectedly becoming ill, we can include language in your purchase offer to allow for reasonable time extensions. It’s usually in everyone’s best interests to modify a closing timeline, when necessary and when possible, rather than lose the deal altogether.

Regarding access to homes during the pandemic, we can tell you that most sellers have accommodated showings, home inspections and appraisals while taking sensible precautions.

In short, having contingencies for COVID-19 may be trendy, but it’s wiser to use broader contingency language that covers your interests no matter what. If you do have a specific contractual concern related to COVID-19 or any other matter, we will help you find the best approach. After all, we’re on your side!

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Columbus Home Buyers, Keep Calm and Carry On

RealSupport — Fri, 27 Mar 2020 06:57:34 +0000

As news about COVID-19 dominates the headlines, Columbus home buyers may feel uncertain about the future. Anyone who is experiencing a loss of employment or business disruption must understandably wait things out. But for buyers who have the wherewithal to stay in the market, it’s wise not to give in to fear. This too, shall pass!

Of course, precautions should be taken in the interests of public health and your own. A recent article in the Columbus Dispatch discussed the measures employed by real estate professionals to help protect clients. These include sanitizing high-touch areas and observing social distancing. Frankly, there are more health risks in grocery shopping these days than in buying a home!

Another option is to leverage technology. While buying a home without visiting it isn’t for everyone, buyers have been doing this for years, relying on photos, videos and listing data. We can supply you with a wealth of broker-level information about the homes that interest you, and even tour homes on your behalf!

When you are ready to submit an offer, our buyer-centric contract includes contingencies to protect your interests, such as home inspections and remedies for repair issues.

We care about our Buyer-Clients! We are observing all practical precautions in the daily course of our business. Our full services remain available during this time of social distancing.

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Ohio Home Buyers Have Advantages in Winter Months

RealSupport — Wed, 11 Dec 2019 06:51:21 +0000

Buying a home may not be the first thing you think of in December or January. But for Central Ohio home buyers, these two winter months offer some of the best market conditions you’ll see all year!

According to a study by ATTOM Data Solutions, buyers around the country have been facing higher home prices year-around. When inventory is scarce and buyer demand is strong, competition increases, leading to higher offers. During the month of June, home buying activity tends to peak; consequently, June buyers pay about 7.1% more for a home on average.

When December rolls around, it’s a different story. Fewer home buyers are active in the market, yet there are motivated sellers who are anxious for an offer. ATTOM’s study shows that December home buyers pay a much smaller premium for homes during this month – averaging only about 1.2% over market value. Overall, sellers are more likely to reduce the asking price on their home in December.

Ohio home buyers do very well during the month of January, too! Ohio home sale prices average 7.4% less than market value during this month. Well-prepared buyers who remain active in the market during December and January enjoy greater leverage in purchase negotiations.

We can help you maximize your home buying opportunities in the winter months – and year around! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Ohio Home Buyers Have Advantages in Winter Months appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

What Columbus Home Buyers Should Know About Mortgage Escrow Accounts

RealSupport — Thu, 21 Feb 2019 05:11:22 +0000

When you buy a home with less than 20% down, your mortgage company will usually require an escrow account for your property taxes and homeowner’s insurance. Your home is collateral for the mortgage debt, and your lender wants to avoid the risks associated with non-payment of these items. They collect the money from you in monthly installments, then make the annual or semi-annual payments directly to these parties on your behalf.

When an escrow account is required, your total monthly mortgage payment will include two components: the principal and interest portion (P&I) and the escrow for taxes and homeowner’s insurance (T&I). If you have a fixed-rate mortgage, the P&I component remains the same within your payment. But the escrow component may be adjusted to accommodate changes in your tax bill or homeowner’s insurance premiums.

If you live within a homeowner’s association, HOA dues may be escrowed within your monthly mortgage payment. You may also have a mortgage insurance premium (MIP for FHA loans or PMI for conventional loans) in your payment as well. For the sake of simplicity, our examples will focus on escrow for the payment of property taxes and homeowner’s insurance premiums.

Say you have annual property taxes of $7,500, and an annual insurance premium of $750. These two items would total $8,250 per year. Your monthly escrow would be based on $4,200 divided by 12 months = $687.50 per month. This $687.50 would be added to your principal and interest payment, to create your total monthly mortgage payment.

One catch: Federal law allows mortgage servicing companies to hold up to 2 months of escrow in reserve, as a safety net against increases in your escrowed bills. Using the above example, your mortgage company could require your escrow account to keep a “minimum balance” of $1,375 equaling 2 months of your escrow deposit. In order to establish and maintain this reserve, the escrow portion of your payment could be occasionally increased.

Escrow accounts are balanced each year to compare the outgoing disbursements against the funds being deposited. This may be referred to as an escrow analysis. It works similar to balancing a checking account, and rarely do things line up perfectly. Tax and insurance bills can change year to year, and your escrow account may run a shortage, or a surplus, as a result.

In the event of a surplus, your lender will send you a check for the amount of over-payment. Don’t celebrate with this refund; the same escrow account may show a shortage the following year. This is especially true for new construction, when the property hasn’t been fully assessed yet, resulting in an initial tax bill that is abnormally low. Your best bet is to save any escrow refund, so you can be prepared when the scales tip the opposite direction.

In the case of an escrow shortage, your lender will collect the difference from you. First, your monthly escrow payment will be increased to match the actual payout from escrow. If your monthly escrow was estimated on disbursements of $8,250 a year, but they actually amounted to $9,000 a year, your new monthly escrow requirement will be $750 a month. ($9,000/12 = $750.)

But wait, there’s more! Your lender also needs to recover the $750 difference, which wasn’t collected from you in advance. (This situation happens when a tax or insurance bill comes in higher than estimated.)

To make up for the shortage, your mortgage company will give you two options: 1) pay the shortage in a lump sum of $750, or 2) prorate this over the next 12 months, adding it to your monthly payments. If you choose the latter, you’ll have an extra $62.50 tacked on the new $750 escrow payment, for a total of $812.50.

If you have an escrow reserve, or two-month cushion required, your lender will tack on a little extra to bring this reserve balance in line with your new escrow calculations.

Assuming you have no further increases in tax or insurance bills the following year, the shortage proration in the escrow payment would drop off. What to watch out for, are year-over-year increases in tax bills, insurance premiums, or other obligations managed in your escrow account. If something is always “going up” in cost, your escrow account could be in a perpetual game of catch-up.

The good news: having an escrow account provides built-in monthly savings towards your property taxes, homeowner’s insurance and other obligations. If a tax bill comes in higher than expected, your mortgage company still pays it on time, and collects the difference from you later. There is no interest or penalty on an escrow shortage – but there are interest and penalties on past-due tax bills, along with other serious consequences.

Columbus home buyers should keep property tax bills, insurance premiums and other ownership expenses in mind when considering their home buying budget! These expenses can increase as time goes on. If you do not have an escrow account requirement, you’ll need to plan ahead and save diligently for these items on your own.

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA, e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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Columbus Area Community Spotlight: Pickerington

RealSupport — Thu, 27 Nov 2014 05:35:42 +0000

Pickerington is an up-and-coming community located about 17 miles southeast of downtown Columbus. It is home to about 18,000 residents. The City of Pickerington prides itself on having a family-friendly, small-town atmosphere while providing abundant municipal services and amenities.

Residents of Pickerington enjoy many festivals and events throughout the year, such as the annual Violet Festival, featuring live entertainment, a car show, carnival rides, activities and plenty of food. Not to be outdone, the Taste of Pickerington brings out the best of local flavor. The fun continues with special events on Labor Day weekend and Independence Day, plus the Haunted Village in October and the Olde Village Holiday in December.

Pickerington’s quality of life is enhanced by over 150 acres of park land and 9 well-appointed parks. The Parks and Recreation Department maintains a public swimming facility, a skate park, a fishing pond, and sports fields for softball, soccer, tennis, and basketball. Numerous sports and educational programs are offered throughout the year. The 18-hole Disc Golf Course is open to the public and welcomes all skill levels.

Commerce in Pickerington is a mix of historic downtown shopping and modern retail development. Olde Pickerington Village features one-of-a-kind retail stores and restaurants housed in 1800’s architecture. The Hunter’s Run Centre offers national-brand stores and restaurants like Barnes & Noble, Bed Bath & Beyond, and Max & Erma’s. More business development is in the works.

A new state-of-the-art medical facility, OhioHealth Pickerington Medial Campus, will be opening in the spring of 2015. Area residents will have access to 24/7 emergency care, surgical services, laboratory and imaging services, sports medicine and rehabilitation, cardiac care, and more.

Pickerington is also home to the American Motorcyclist Association and the Motorcycle Hall of Fame Museum. Both are located on the same campus on Yarmouth Drive. The American Motorcyclist Association serves the concerns of highway, off-road and racing enthusiasts around the country.

Public education in Pickerington is well-regarded. The Pickerington Local School District is one of the top public school systems in Ohio, continually obtaining high ratings by the Ohio Department of Education. In 2014, Pickerington High School North received a “Silver” ranking by U.S. News & World Report.

Homes in Pickerington include affordable starter homes priced under $200,000. There is a good selection of mid-range homes and some luxury estates. New construction has been on the rise, providing you with even more choices for the money.

Let us be your guide to Pickerington! As your Exclusive Buyer’s Broker, we serve your best interests at all times. Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

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Get Big Ideas at Columbus Home Improvement Shows!

RealSupport — Thu, 09 Jan 2014 03:36:43 +0000

Whether you are looking to buy your first home, or build your dream home, you can find plenty of ideas at Columbus home improvement shows! These events are a great way to educate yourself about remodeling, landscaping, home building and decorating. We are fortunate to have two annual home shows right here in Columbus!

These shows offer a great opportunity to hobnob with a variety of contractors and home service providers. You can find free demonstrations, tips and advice, all without obligation.

However, if you speak to home builders, be sure to let them know that you are working with an Exclusive Buyer’s Broker. This way, we can help you negotiate the building contract and pricing of your new home! We will save you thousands of dollars, and keep you protected with important contingencies.

Columbus Build, Remodel & Landscape Expo

January 17-19, 2014, Greater Columbus Convention Center. Celebrating 14 years of home inspiration! Featuring hundreds of exhibits, many informative seminars and dozens of how-to demonstrations. Learn about home design and construction, energy-saving renovations, kitchen and bath remodeling, and more!

You’ll find ideas for beautiful landscaping, stunning room makeovers, and plenty of inspiration for just about any project. Whether you are a do-it-yourself person, or you prefer to hire a professional, you’ll find the resources here. Admission is only $6 for adults. Children under age 18 are admitted free. We have 20 free tickets available! Just call us at #614-888-4110, or email us at info@BuyersHome.com. First come, first served, no strings attached.

After a successful debut last year, the “Taste of Downtown” returns as part of the expo! Enjoy delicious fare from some of the most interesting restaurants in downtown Columbus. Don’t miss the exclusive deals and discounts!

Columbus Home Improvement Show

February 7-9, 2014, Franklin County Veterans Memorial. Meet remodeling and building experts, home improvement specialists and local craftsmen. Learn about home additions, sunrooms, kitchen and bath remodeling and more! Browse the beautiful indoor gardens, and get inspiration for your spring landscaping projects. Adult admission is $5, children under 18 are admitted free.

Every Dream Home Begins with an Exclusive Buyer’s Broker!

Home improvement shows are informative and fun. Buying or building your new Columbus home should be the same way! When you have an Exclusive Buyer’s Broker protecting your interests, you can shop with confidence. And because we represent you, and only you, in the home buying transaction, you get unparalleled service, information and guidance. Best of all, our excellent services are provided to you free of charge. We’ll be happy to explain how this works!

Why not get started today? Learn home buying strategies from the pros, and download our FREE e-book !

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