Buyer Representation and New Construction

Are you in the market to purchase new construction?  If you are, you’ve probably noticed that the onsite sales rep discourages you from using your own buyer’s broker.  They may tell you that you can save money by not having your own representation, and that there’s really no need  … it’s new construction, right?

Wrong.  Builders often use their own contracts, which can differ substantially from the standard Oregon real estate contracts.  One of the benefits to the standard Oregon contract is that it protects the buyer’s rights in ways that private contracts do not.  Your experienced buyer’s broker will be able to go through the builder’s contract with you, and point out where you may not be fully protected.  Your buyer’s broker can also alert you to standard clauses in new construction contracts that you may not be aware of, especially if your past purchases have been resale.  For example, did you know that most new construction earnest money is nonrefundable under any circumstances?

You may assume that the builder’s contract is written in stone, but it isn’t.  Your buyer’s broker can help you to negotiate or add clauses that will benefit and protect you.  Points to negotiate may include your right to a private professional home inspection, post-closing warranty walkthroughs, and adding upgrades or custom features. 

It’s always a good idea to have someone on your side, especially when dealing with unfamiliar contracts.  I am an experienced buyer’s advocate who can help you to find the pitfalls and benefits to new construction contracts.  I look forward to working with you to make the best deal you can on your new construction purchase.

Joan Rogers is an experienced, full-time, professional real estate broker affiliated with John L Scott Real Estate. Your comments and questions are welcome; comments may be used as future article topics.  Joan is a dedicated full service broker for buyers and sellers in the Portland Metro area.  Joan may be contacted privately via email at joanro@johnlscott.com.  All material on this site is copyright protected.

Keep Your Lender Local

  If you’re moving to Oregon from out of state, it may seem like a good idea to use a mortgage broker or lender “back home” … someone you’ve had positive experience with in the past. 

While it’s definitely a good idea to work with a lending source that makes you comfortable and confident, out of state lenders can be problematic.  Why?  Because they aren’t familiar with Oregon laws, regulations, paperwork, and climate.

I have had more than one California-originated loan that had last-minute problems because the underwriter demanded a California-standard termite report, to assure the lender that the house didn’t have a type of pest infestation that simply doesn’t exist in Oregon.  This kind of seemingly minor problem can cause stressful eleventh hour delays, and can even impact your ability to close on time.

And that’s the other thing that out of state lenders don’t always understand … the Oregon earnest money contract has absolutely no provision for late closing.  It used to have a five day grace period for late paperwork, but it doesn’t have that anymore.  Many other states still have that grace period.  Your out of state lender may be assuming a degree of leeway with timing that simply doesn’t exist.  It’s been my repeated experience that reminding the lender of that fact doesn’t always get through to the processor who needs to hear it. 

Local lenders are also far more likely to be able to “table fund,” meaning that your loan will fund the day you sign, which saves time.  And a local, hands-on mortgage banker or broker is more likely to be available to answer your questions and explain things to you in person.

When I work for you as your buyer’s broker, there are several local mortgage bankers and brokers whom I trust to take good care of my buyers, and who can be trusted to find lending sources that understand our local market, and who won’t drop the ball.  As a buyer, it’s important for you to find a broker with a wide variety of resources and contacts, and strong relationships in the lending community.  I look forward to putting my resources to work for you.

Joan Rogers is an experienced, full-time, professional real estate broker affiliated with John L Scott Real Estate. Your comments and questions are welcome; comments may be used as future article topics.  Joan is a dedicated full service broker for buyers and sellers in the Portland Metro area.  Joan may be contacted privately via email at joanro@johnlscott.com.  All material on this site is copyright protected.

Sweet Smell of Success

When your home is on the market, first impressions are crucial to buyer interest.  This is especially true in the current market, when a healthy inventory offers buyers a wider variety of choice.  A pleasant fragrance in the house is an excellent way to make a good first impression.  When you work with me as your seller’s agent, one of my jobs is to alert you to scents in the home that you may be unaware of, especially pet odors.  Even a clean large dog can give a house a noticeable scent, and it’s important to deal with that up front.  Sometimes carpet removal in basements or high-traffic pet areas is necessary. 

Tobacco smoke is another issue that can be problematic.  If you have smoked in your house long-term, I may recommend deep-cleaning or replacement of carpets.  Washing walls can work wonders with lingering tobacco smoke.  In some cases, repainting is a good idea. 

Some odors, such as dampness or mildew, can alert me to possible needed repairs in your home.  Wet basements have a very characteristic smell, and catching that in advance of a home inspection can save you a great deal of stress.

In the case of stubborn or long-standing scents, an ionizer or air filter is helpful.

Many sellers make the mistake of using aerosol air fresheners or plug-in air fresheners when their home is on the market.  I discourage this for two reasons:

1) The presence of a strong air freshener scent may cause buyers to wonder what the seller is trying to cover up.

2) Strong chemical-based scents can be miserable for buyers with allergies, asthma, or fragrance sensitivities.

The best way to handle an unpleasant scent in the house is to deal with the source.   Creating a welcoming atmosphere without using strong air fresheners is simple, and fun.

– The fragrance of freshly-baked bread or cookies is always a winner … and leaving treats for buyers makes your home feel hospitable and welcoming.

– Essential oil diffusers can be used for subtle, natural fragrance in a home.  Don’t have a diffuser?  Don’t worry — you can get the same effect by simmering a few drops of an essential oil in a pan of water on your stove.  You can find essential oils at most stores that carry natural or homeopathic products … New Seasons, for example, has a wide variety.  For a light and enlivening scent, try a combination of rosemary and lavender, or rosemary and peppermint. 

– Simmering a combination of cinnamon sticks and whole cloves provides a comforting fragrance for cold weather showings.

Finding ways to make your home stand out and show at its best is part of my job as your listing broker.  You and your home will benefit from my honesty and creativity.

Joan Rogers is an experienced, full-time, professional real estate broker affiliated with John L Scott Real Estate. Your comments and questions are welcome; comments may be used as future article topics.  Joan is a dedicated full service broker for buyers and sellers in the Portland Metro area.  Joan may be contacted privately via email at joanro@johnlscott.com.  All material on this site is copyright protected.

The Benefit of Open Houses

   When I make my marketing presentation to a seller, one of the things I emphasize is my willingness and availability for Sunday open houses.  Often I am asked, “Isn’t that just a way for you to advertise yourself?  What good does it do my house?”

Yes, of course open houses are an opportunity for me to meet prospective buyers, and to meet your neighbors who might be selling their homes in the future.  From my perspective, however, that is not their primary purpose.  Open houses are a very useful tool in the successful sale of a home, for the following reasons:

– Realtors working with multiple buyers have a limited amount of time available to show houses.  Buyers will often work with their buyers’ broker to identify a list of suitable homes that are open on Sunday, so that the buyer can maximize viewing opportunities.  If your house is open, chances are that qualified buyers will come through, taking advantage of a low-pressure opportunity to see your home. 

– Do you feel your house is better on the inside than it is from the street?  An open house is an excellent way to let people see that.   Buyers are often discouraged from looking at a house with less street appeal when they see exterior photos in RMLS.  However, if a buyer drives by and sees that the house is open, they’re more likely to look inside even if the exterior isn’t appealing.  The same principle holds true for houses in less-than-ideal locations … if your interior is the selling point, then getting buyers inside is a key factor for your successful sale.

– Word of mouth sells houses.  Are you afraid that you’ll get all your neighbors through your open house?  That’s actually the best thing you could hope for.  Your neighbors have friends and relatives who might be interested in living near them.

– People talk when they’re in your house.  I am always listening to what people say; casual comments reveal a great deal about how the house shows, and may provide clues regarding drawbacks or positive points that weren’t obvious when the house was listed.  In the case of one particular home I had listed, I learned that a major barrier to the sale was the fact that there wasn’t a tub in the master suite.  This was not feedback given to me by any broker who showed the house … but I heard it repeatedly from people who came through my open houses.  The seller ended up providing an estimate to install a tub in the master bath, which helped buyer perception. 

The bottom line is that open houses benefit you as a seller.  I always leave the choice up to the seller, but my enthusiasm and availability to expose your house thoroughly on the market is one of the advantages I offer as part of my hands-on, personal service.

Joan Rogers is an experienced, full-time, professional real estate broker affiliated with John L Scott Real Estate. Your comments and questions are welcome; comments may be used as future article topics.  Joan is a dedicated full service broker for buyers and sellers in the Portland Metro area.  Joan may be contacted privately via email at joanro@johnlscott.com.  All material on this site is copyright protected.