Consumer Guide: Ten Questions to ask a Buyer's Agent

Buying a house is one of the biggest  decision you will make in your life, so you can’t take it lightly.

When you’re looking at potential homes, falling in love with the backyard or spacious kitchen isn’t enough. You have to dig deep and look at the other areas of the home you may not have thought of.

 From the roof to the furnace, there are several spots you need to make sure you inspect before jumping into home ownership headfirst.

  Here are five of the areas in the home you may not think to check.

What to Look for When Buying a House

·        Does the roof need repairs? Before you step inside the house, take a look at what’s going on with the roof. Are there shingles missing? Is the roof sagging anywhere? These issues alone could end up costing you in the future.

·        Is the furnace up for the job? The outside and even the inside of the house could appear to be warm and inviting, but if the furnace is out of date it will be anything but. Those heating and cooling systems in the house can be expensive to fix and replace, and an inefficient furnace can cost you big on monthly energy bills. Double check that the furnace is up to date and in good working order.

·        Are the windows leaky? Letting fresh air in through the windows during the summer is a great way to give your air conditioning unit a break, but you don’t want those same windows letting in cold winter air. Leaky windows will not only make your home colder, they will also make your furnace work overtime to compensate for all of the cold air getting inside.

·        Did you push every button and turn every knob? Once inside the house touch everything. Flip every light switch, open all the windows and doors, flush the toilet, and turn on every faucet. Before you buy you need to know firsthand that everything is in working order, and if it’s not, you can come up with a plan to find a cost-effective solution.

·        Is there proper insulation in the attic, walls, rim joist and crawl space? Your home should be a comfortable space to enjoy with your friends and family. Check out the house to see if it has insulation and if that insulation is up to date. Traditional insulation materials like fiberglass and cellulose tend to settle and breakdown over time, and need to be replaced about every 15 years, not to mention they don’t create an air barrier to keep outside temperatures out. If there is foam insulation in the home, you won’t have to worry about constantly maintaining it or the material breaking down. Foam also creates an air barrier to keep the treated air inside and the elements out.

Now that you know what to look for when looking at potential homes, finding a space that meets your needs will be much easier. Happy house hunting!

Amanda Ringler is a journalist, artist, wife, mom to Danger the lovable husky, and Content Manager at RetroFoam of Michigan.

Each member of The Sedlarik Group has a passion for real estate. We take great pride in connecting with each individual client, creating solid relationships built on honesty, integrity & credibility. We promise to work harder for you than any other team, always keeping our focus on your best interest. Here at The Sedlarik Group we seek to continuously educate ourselves through ongoing training so that we are always on top of our game.

 The Sedlarik Group offers the best marketing plans available for your home. Here at The Sedlarik Group, we understand the importance of marketing your home and negotiating the best possible offer on the sale of your home. Our strong belief in accurate pricing and innovative marketing is one that makes our very efficient home selling process greater than that of our competition. We are here to get you the best deal possible.

  We take pride in our customer service offering you the genuine support and honest answers you’re looking for throughout the process. Our plan is to treat every client as if they were family building strong connections and giving them the undivided attention to make their experience the best experience possible. 

We are the #1 source for Real Estate in Genesee County and the surrounding areas.  John Sedlarik and The Sedlarik Group are in the Top 5% of real estate agents in Michigan. The Sedlarik Group offers over two decades of real estate experience from all areas of the residential real estate field. We are Brokers, Realtors, Appraisers, Builders, Marketers and Investors. You can't go wrong when working with our team as we are dedicated and committed to giving the highest level of knowledge and service available in the industry.

So if you’re looking for top-shelf real estate services contact us. You will not be disappointed!

FHA loan

An FHA loan is a mortgage that is insured by the Federal Housing Administration. With an FHA loan you pay for mortgage insurance which will protect the lender from a loss if the borrower defaults on the loan. These terms are for the life of the loan. This type of loan is usually a go to option for home buyers with its low down payments and relaxed credit requirements.  This loan option however must be used for a property that is occupied by at least one owner as a primary residence within 60 days of closing. So that means that investment properties and homes that are being flipped are not eligible for an FHA loan. An FHA loan tends to be more flexible than a conventional loan.  If you have had small bumps in your past credit history and are working with a smaller amount of money, an FHA mortgage loan may be for you.

 Requirements for an FHA loan

·       3.5% down payment

·       No previous mortgage late payments in the last 12 months

·       No foreclosures in the last 36 months

·       No bankruptcies in the past 24 months

Conventional loan

A conventional loan is a mortgage that is not guaranteed or insured by any government agency that typically has fixed rates and terms. Conventional loans are the most common loans. Typically they’re used to buy a primary residence, investment property, or even a vacation home. Conventional loans are typically cheaper than a FHA loan. In most cases conventional loans are for someone with a higher credit score and more money to work with for a larger down payment.

Requirements for a conventional loan

·       Down payment anywhere from 3% to 20%

·      No previous mortgage late payments in the last 24 months

·      No foreclosure in the past 7 years

·      No bankruptcies in the past 4 years 

RD loan

A RD loan is a mortgage loan offered by the United States Department of Agriculture, which runs programs, intended to improve the economy and quality of life in rural America. This is great for both first time home buyers and previous homeowners. Geographic restrictions and income limits will vary by the county you wish to live in. When buying a home if you do not have a 20% down payment, most loans require private mortgage insurance (PMI) which adds to your monthly payment. With a zero dollar down payment and no loan limits this loan could be great for you.  

 Requirements for an RD loan

·       $0 down payment

·       No loan limits

·       No previous mortgage late payments in the last 24 months

·       No foreclosures/ short sales in the last 36 months

·       Must have 3 trade lines of credit

VA loan

A VA loan is a mortgage loan in the United States guaranteed by the US Department of Veterans Affairs. This allows veterans that are first time home buyers and current homeowners to purchase their new home with a zero dollar down payment. This is one of the best loan options for veterans looking to have the lowest amount of money out of pocket and keeping a monthly low payment.

Requirements for a VA loan

·       No down payment

·       No monthly mortgage insurance (PMI)

·       Only eligible Veterans qualify

·       No previous mortgage late payments in the last 24 months

·       No foreclosures in the past 36 months

·       No bankruptcies in the past 24 months

·       Must meet VA rules of eligibility

We are a multifaceted business that operates with you, as a team, on the forefront of our day-to-day operations. We are well known and respected in the community and our philosophies are based on both honesty and integrity. The Sedlarik group is a team built brokerage where your input will matter.  As a team realtor, you will receive personal service and be backed by a reputable company. Given that we are a team ran brokerage you will have the advantage of 24/7 support and assistance through your teammates.

The Sedlarik Group implements multi-level marketing strategies that benefit our clients with every transaction. Our real estate agents have extensive training and access to information about the communities in which they deal. The Sedlarik Group is dedicated to maintaining a professional, trustworthy relationship with each of our team agents. 

Our group offers a great professional family team environment, an administrative assistant, as well as outstanding training from a broker with over two decades of experience from all aspects in the real estate industry. Join us and pay no office fees, receive competitive splits and get paid within 24 hours of your closing. The Sedlarik Group Realty is home to the 2017 Grand Blanc View’s “Favorite Real Estate Office”, as well as awards for “Favorite Real Estate Assistant” of 2017. We are also ranked within the Top 5% of real estate professionals for the state of Michigan. We can’t wait to welcome you and help you grow into a top real estate professional. If your looking to become a team player and learn from the best to grow your business please contact us.  

 Contact Us:

Office: 810-221-7102

Email: thesedlarikgrouprealty@gmail.com

We look forward to speaking with soon!

Your Broker,

John Sedlarik

Regardless of how ideal the market may seem, it’s still a good idea to sit down with your real estate agent and think about how you see your life in three or five years and ask yourself some pointed questions.

Can I afford it?

When purchasing a house there will be a notable impact on your finances, so you need to make sure that you’re prepared for it. You will need a steady source of income to insure that you can pay your mortgage payment.  You’ll also want to minimize any debt or financial obligations that can reduce your ability to afford a mortgage. Finally, you’ll need income or savings to afford home repairs, furniture and other assorted expenses.

Try creating a budget for the monthly mortgage payment and home ownership costs, such as general maintenance if you buy a single-family home or homeowners association fees if you buy a condo.

Am I mortgage-worthy?

 Say you saved enough cash, but what about your credit? It’s not a secret that getting a mortgage these days is harder than it used to be. Lenders are looking closely at all documentation of your income, debts, assets and liabilities, to make sure you don’t exceed the maximum debt-to-income ratio. The better your credit score, the better your odds of landing your dream home with a reasonable interest rate. The key is to review your financial situation before you decide to start checking out the open houses.

Is it worth the money?

You may find yourself spending slightly more than you expected to, but in the end it may be worth it if there are already updates done and appliances staying with your home. In other words, the place in which you live is an investment and the money will always be relevant.

If I buy with another person, how will this affect me?

Buying real estate with another person has its perks, if you both have stable financial situations. By combining cash and resources, you're likely to get a bigger, better place than you each would as individual buyers. Plus, when you're starting out, it helps to share the financial burden with someone else.

 But before you start house hunting together, sit down, lay all your cards on the table and get the answers to these important questions. Whether you're buying with a spouse, domestic partner, relative or friend, setting the ground rules first will save you both a lot of headaches in the future.

Pricing it right

Find out what your home is worth, and then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

Half-empty closets

Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

Light it up

Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

Play the agent field

A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the multiple listing services (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

Conceal the critters

You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Don’t over-upgrade

Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Take the home out of your house

One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

The kitchen comes first

You’re not actually selling your house; you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Always be ready to show

Your house needs to be "show-ready" at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

The first impression is the only impression

 No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.