(Important information for all buyers)
Before you really begin to work with a REALTOR®, it will be helpful to know that he/she will be truly representing your best interests. Frankly, this should be the case all of the time... unless you are working with a Facilitator - a title given to a specific form of Agency representation. This guide should answer most of your questions regarding the various kinds of Agency. Upon your first face-to-face meeting, you should receive something similar to it to sign, acknowledging that you received a copy of it. Additionally, the Commonwealth has produced a fact sheet for consumers, like you.
Once you are serious about buying, you will want exclusive representation both in the search of your next home and negotiating the details of the purchase contract. The only way to assure that you get this is by signing a Buyer Representation Agreement. By signing such an agreement, Jim will be obligated to represent your best interest and to keep everything you tell him confidential.
Sadly, even with such an agreement, some agents put the dollar ahead of his/her clients and will talk them into paying more than they should for a property just to ensure a quick payday. However, Jim is driven by integrity and loyalty and never loses sight of his clients' best interests.
The rest of the paperwork kicks in once we have identified a property you would like to buy. The common forms which you will be asked to sign include these:
The Property Condition Disclosure has a variety of names and formats given to it; but, it is essentially a form from the seller relating any defects to the property of which he/she is aware. Please read over this form carefully when you receive one prior to or after making an offer to purchase.
There might be other forms involved depending upon what you are buying and the terms surrounding your offer; however, Jim will ensure that you understand each form we use before asking for your signature.
Once you have come to terms with a seller on an offer to purchase, you will want to do your due diligence, which includes having the property inspected for defects. Please download this brochure with helpful information regarding property inspections.