What A Real Esate Agent Does

The Complete Guide To Buying A Home In Logan Utah

by Lisa Udy on August 20, 2010

Most real estate markets around the country are considered to be a buyers market. The Logan real estate market is no different. We are in a very strong buyers market, and it only makes sense to me to give you buyers as much information as possible to ensure that a great home for a great price is in your future.

The key to purchasing a home in todays volatile market is education. In order to get the best home, at the best price, you must know the process, the market you’re purchasing, and if it’s the right time for you to buy. So, let’s start off with a little education and some common home buying tips to see if you’re really prepared to purchase a Logan home.

Is It The Right Time To Buy For Me?

Smart Moves For Logan Utah Home Buyers ~ This post gives you some basic tips to consider before  buying a home. Those tips include saving up a down payment, figuring out your finances so you know how much home you can afford, why you should get pre-qualified for a loan before you go house hunting, and being smart about the full home buying process.

5 Reasons To Buy And Not To Buy A Home In 2010 ~ Many home buyers are afraid of what the real estate market is going to do in the future, hence they sit on the fence. Yep, I just rhymed! This post gives you 5 reasons for both sides of the coin. On one hand, home are becoming more affordable, on the other hand home prices are still declining. Use this post to weigh both sides, and decide if now is right time for you.

Key Market Indicators Help Time Real Estate Markets ~ Education is the key to securing your financial future when it comes to purchasing real estate. This post lists 5 key real estate market indicators you should pay attention to. These indicators include: Existing home sales, New home building permits, Notice of defaults, Foreclosures sales, and Interest rates.

Right Time To Buy? Great! Get Educated And Hire A Realtor

How Much Home Can You Afford Without Being House Broke? ~ During the real estate bubble of the 2000′s, many buyers overstepped their abilities when it came to buying a home. This post gives you some guidelines to follow so that you don’t end up in the same situation. Knowing how much house you can buy, and how much house you can afford, are two different things. Learn from others mistakes by reading this post.

Tips To Choose A Real Estate Agent ~ As a home buyer, using a Realtor to help you through the process of buying a home should be a given. Realtors are professionals and they can save you money, time, and headaches. Don’t pick just any Realtor though. You should use these guidelines to ensure you get a Realtor that best suites your personality and one who will work hard in your corner.

Questions Every Buyer Should Ask Their Logan Utah Real Estate Agent ~ Another great post on some questions most buyers forget to ask Realtors when they are interviewing them. This post will give you some much needed help choosing the right agent for you. These questions include the availability of the agent, are their licenses in good standing, do they have assistants, and many more.

Did You Know You Can Use A Realtor To Buy A FSBO? ~ Even if you plan on purchasing a for sale by owner property, most times you can still use a Realtor. This post gives you reasons why using a Realtor to purchase a FSBO is the smart thing to do.

You Have Your Agent Now It’s Time To Narrow Down Your Options

Utah Home Loan Programs ~ Now that you have chosen an agent, get their advice lenders they recommend.  Just like Realtors, all lenders are not equal, and some do better than others. Check this post out to see what special loan programs Utah has to offer.

How To Pick The Right Logan Utah Home To Buy ~ Choosing a home can be extremely stressful. There are a lot more choices  in a buyers market. With the amount of inventory to choose from, you need to distinguish your needs from your wants. Use these tips to help you narrow down your options so you can start viewing homes.

Short Sale Process: Writing The Offer – Short Sale Approval Time Frame – Withdrawing Your Offer ~ If you’re thinking of buying a short sale, you need to understand that the short sale purchase process is much different than purchasing a normal property. This post gives you some information on the short sale process, writing an offer, the time frame of a short sale approval, and when you can withdraw your offer if things aren’t going your way.

Common Short Sale Questions Answered! ~ Short Sales are complicated, time consuming, and can become a frustrating ordeal if you’re not prepared for the process. I have put together some very common short sale questions most buyers have, and you can use this post to learn more about them. If you have any other short sale questions, leave a comment on this post and I will get them answered.

Pros And Cons Of Buying Logan Utah Foreclosures ~ Everyone is talking about buying foreclosures and what a great deal they can be. But hold on there trigger. There is more than the proverbial great deal in the foreclosure market. There are also homes that need lots of work, and a process that can leave you feeling weak in the knees as a home buyer. Learn the pros and cons of purchasing a foreclosure property.

What To Do When You Find The Perfect Home And How To Get To Closing

What To Do Before Writing An Offer On A Logan UT Home ~ When it comes time to write an offer, I would recommend a few things before you write it. Check out the market activity in the area, check out the neighborhood for crime and schools, and take a night to sleep on it. You don’t need to rush into buying a home with so many to choose from. Use these tips to become more confident about your choice.

How To Make An Offer On A Logan Utah Home ~ Once you’re ready to write your offer, here are a few things that need to be included with your offer. Make sure you setup your dates, submit a pre-qualification letter, have your agent run a market analysis on the property, and include your earnest money deposit, and more.

Due Diligence Period For Utah Home Buyers ~ Once you’re under contract, your due diligence period allows you time to obtain financing, inspect the property, and get an appraisal so you don’t overpay. Here is a list of 17 items you should check during your due diligence period.

What To Expect When Closing On A Logan Utah Home ~ During the closing process you will need a few items, and here can learn what they are. Also, depending on your states laws, you may not own the home yet. Here in Utah it usually takes 24 hours for a closing to fund and record. Get the facts about closing on a Logan Utah home in this post.

All of these articles should give you a great understanding of the real estate process. It makes you wonder, with all the information on the internet why you need to use a Realtor at all. The truth is, the information provided here, and other places on the internet, are just stepping stones.

A Realtor knows specific laws and nuances of their markets. A Realtor is also a great way to find people that can help you with your real estate transaction. We all have a database of professional lenders, contractors, inspectors, electricians, and many other parties who get involved in a transaction. No matter how much information you gather online, nothing will replace the expertise of an experience professional Realtor.

This article and all articles linked to were written by Lisa Udy, a veteran real estate broker with Platinum Real Estate Group in Logan, Utah. Many of these articles relate to other markets, and if you want to use them as guidelines with your buyers, feel free. The only request is that you link to this post from your blogs or websites with the anchor text: Home Buyers Guide. If you have any questions please feel free to contact the Lisa Udy team at: Lisa@LisaUdy.com.

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Due Diligence Period For Utah Home Buyers

by Lisa Udy on August 6, 2010

When purchasing a home, the Utah Real Estate Purchase Contract allows you, the home buyer, a due diligence period.

What does due diligence mean? Due diligence is a time period alloted by the contract that gives you time to make sure the home you are purchasing is in satisfactory living condition. Basically, due diligence gives you a time period that both home buyer and seller agree to for the buyer to investigate the property.

Utah Home Buyer Due Diligence Checklist

1. Building Code And Zoning Compliance - You can obtain these records from the community development department in Logan Utah.

2. Rental Of Property - You can find out if the property you are buying is eligible to be a rental property from the same department. You will also have to apply for a landlords license and attend an 8 hour landlord class if you haven’t already.  More information on Logan UT Landlord Licensing.

3. Hazardous Waste And Toxic Substances – It’s a good idea to test for hazardous substance’s on the property such as radon, meth residue, asbestos, and lead based paint. You can check for these substances by asking your real estate agent who they recommend for the job. You should always use a professional when testing, and always use professional services to clean up any Toxic substances.

4. Surveying And Staking – It’s the buyers responsibility to ensure the property lines are represented truthfully in the contract.

5. Home Warranty Plans – A home warranty will cover certain appliances and components of the property after closing. A home warranty should be bought with most home purchases.

6. Flood Zone And Insurance – If the property is located in a flood zone the lender will require flood insurance in order to approve your loan.

7. Home Owners Insurance – In order to obtain a loan you will have to have home owners insurance. This is can be calculated into your house payment. Talk to your lender to determine their requirements.

8. Title Issues/Homeowner’s Association – You should get a title report, review any CC&R’s, consult with the Homeowners Association (HOA) about anything related to your property such as budgets, payments, meetings, your say in the HOA’s rules, and financial statements.

9. Physical Condition – Making sure the home is in livable condition is your responsibility as a buyer. You’ll need to hire professionals to inspect the property. As a buyer you should never rely on the seller and your real estate agent to determine the condition of a property. This should be left to inspectors, electricians, and contractors or any other professional as needed.

10. Square Footage/Acreage – If you’re worried about the square footage or acreage of a property, you should hire the correct professionals to verify the information provided by the seller. You shouldn’t rely on a seller’s accuracy of these claims. An appraiser will usually be pretty close to the exact square footage of a home, and you should hire a surveyor to check acreage.

11. Utility Services – As a buyer you need to verify utility information, location of sewer lines, natural gas, cable TV, electrical lines, and telephone lines. Does the property have a septic tank and does it need to pumped? Call all utility companies and make sure all fees are paid and up to date.

12. Water – Talk to the water service providers applicable to your area, the type of water the property uses, and the applicable fees, maintenance costs, and any connection fees related to the property. Water laws can also prevent you from developing a property, and it’s important to talk to the correct professionals and authorities regarding anything water related. If the property has well water, be sure to know the regulations imposed on the well, and get the water tested by a professional.

13. Geologic Conditions – Consult with the proper professionals regarding the properties soil and terrain stability, the existence of wetlands,  drainage problems, and any building or zoning requirements the property has.

14. Mold – You are responsible for mold detection, and you can’t rely on a seller for this information. If you feel the property may have mold, hire the appropriate professionals to determine if the property has mold.

15. Housing Compliance – It is your responsibility as a buyer to consult with the appropriate parties regarding schools, proximity of law enforcement, crime statistics; proximity to industrial, commercial, or agricultural activities; fire protection, other governmental services, transportation, new construction and development, noise and odor from any source or other nuisances, hazards, or circumstances.  Basically, you are responsible to determine if the home has everything you expect it to have.

16. Property Taxes – You’re advised to consult directly with local county assessor’s to determine the property tax laws, whether or not the property is or may be greenbelt, or any other governmental fees and restrictions related to the  taxing of the property.

17. Income Tax/Legal Consequences – Buying real estate has legal and income tax consequences. A buyer should consult with an attorney and accountant to determine how purchasing the property will affect you legally and financially. Realtors are not accountants or attorney’s, and can not give you legal or financial advice.

If this seems like a lot of work, you’re absolutely right. Your due diligence period is extremely important when purchasing a home. An experienced Realtor can help you find the correct professionals and authorities to help you complete your due diligence checklist thoroughly. There can be so many problems with a home, and it’s extremely important to check everything on your own and not rely on a seller or seller’s agent for information.

All information here is for the purpose of education, and I do not claim legal rights to this information. This is not legal advice, please consult with the proper professionals regarding your home purchase. Information was summarized and gathered from Buyer Due Diligence Checklist provided by The Utah Association of Realtors.





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Did You Know You Can Use A Realtor To Buy A FSBO?

by Lisa Udy on August 3, 2010

for sale by ownerReal estate agents all have stories of working with buyers who end up buying a for sale by owner home without us. We cart them around in our cars, spend gas money, spend time educating them on the market conditions, and spend a lot of time going in and out of homes looking for the perfect house.

After which, we try calling or emailing those buyers, and they usually disappear.  Later on, if we’re lucky, they call or send an email stating they decided to buy a for sale by owner and they thank us for our time.

It’s part of the business of being a real estate agent. Despite the feeling of being used, the only thing we can do is wish them luck on their home purchase.

Did You Know You Can Use A Realtor To Buy A FSBO Property?

Showing A FSBOMost people don’t know that Realtors can show a FSBO property. It’s a common misconception that real estate agents are only allowed to show homes on the MLS. This is just not true.

If you’re working with an agent, and you find a FSBO you like, ask them if they can show it to you. The agent should then call the owner of the home and ask if it would be okay if they brought a buyer to look at the home.

This situation is very common. Many FSBO sellers are more than willing to pay a commission or a fee to a buyer’s agent for bringing them a buyer. If the FSBO is unwilling to show the property to you with a buyers agent, you might have to go it alone, but be wary.

Although Most FSBO’s try to sale on their own to save money on commissions, some sellers don’t use agents because they want to hide something. Their home may have defects or they may not be able to budge on price and might try talking you into over paying.

Who Pays The Commission If I Use An Agent To Purchase A FSBO?

You might be thinking, why would I use an agent to buy a FSBO property? Won’t that cost me more money because I have to pay a commission? It depends on the situation.  Most times the seller will pay a fee to a buyers agent without raising their asking price.

You would get the same price, but you would have representation. Realtors are really good at negotiating. We can usually get you the same deal you would without us, if not better.

If the seller won’t budge and won’t pay a commission. You may be able to pay for minimal services to your agent. Things such as paperwork, scheduling dates, and working with title companies could be paid for by you for a small fee. Talk to your agent about their policies.

We understand you may want to buy a FSBO and can’t afford to pay a fee. Inform your agent about your situation. They may be a little upset, but they should understand. Please don’t go behind their back and just disappear. A courtesy call or an email should suffice.

Why Use An Agent At All?

Many people fail to realize what can happen if something goes wrong in a real estate transaction. A buyer’s agent is basically a guardian. We are legally required to work in your best interests. But what does that mean?

Why Use A Realtor To Buy FSBO?

What real estate agents do:

  • Fiduciary
  • Educate
  • Negotiate
  • Introduce

Fiduciary - In a fiduciary capacity, it is the duty of the real estate agent or broker to protect the clients’ privacy and keep all information confidential, unless required to divulge it by a court of law.  -About.com

Educate – We educate you on the home buying process, the real estate market, and will provide comparable properties on any homes you wish to write an offer on. Basically, we teach you the market and give you the tools to get the best deal on a home purchase.

Negotiate - We negotiate on your behalf to keep emotions out of the transaction. Have you ever bought something out of emotion and regretted it later on? Imagine regretting buying a home worth 100′s of thousands of dollars because your emotions got the best of you.

Introduce - During a real estate transaction, many people become involved, and it’s important to hire trusted professionals. A real estate agents “Rolodex” should be filled with people that can assist with anything that arises during a transaction.

Why Would You Buy A Home Without A Realtor? Are You Crazy?

Crazy Lady!In my career, I have closed close to 300 transactions. Never has one transaction been the same as any other. There is always something that comes up and requires a professional to fix or give advice in a timely manner.

If you don’t meet contract deadlines, you could end up losing your earnest money, the home, or even more in a lawsuit. That’s why it’s so important for you to know what you’re doing when buying a home.

If you’re not familiar with real estate, buying a FSBO on your own can cost you more than any commission you would ever pay. It’s up to you to decide if you’re willing to take this risk.  Saving a few thousand dollars by not using an agent could seriously affect your livelihood.

You could end up paying for major repairs, paying more for a home than it’s worth, getting screwed by a dishonest seller, being stuck in a home that doesn’t function properly, and wasting valuable time.

If at all possible, you should use a Realtor to help purchase real property. I am not saying this because I am a Realtor, I’m saying this because there are dire consequences to purchasing property if done without the proper precautions. You CAN use a Realtor to purchase a FSBO. All you have to do is ask.

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Questions Every Buyer Should Ask Their Logan Utah Real Estate Agent

by Lisa Udy on July 30, 2010

Wacky Real Estate AgentsIn Cache county, there are over 300 active real estate agents, which means you have a whole lotta choice when it comes to deciding on an agent to represent you.  Yes I know lotta isn’t a word, but that’s beside the point.

Since you’re going to be making a huge purchase, you should probably get the best representation you can when buying a home. Use these interview questions to find the best Logan UT buyers agent to suit your needs:

  • Are They Full Time Or Part Time?

Part time agents usually work other jobs, and may be difficult to get a hold of at times. Although, some part time agents have very  flexible second jobs. Full time agents can usually give you more attention and I would recommend going with full time over part time.

  • How Familiar With The Area Are They?

Every local market is local, and within each local market, there are hyper local markets. Agents that know the area you are interested in can inform you of prices, demand, and what neighborhoods are up and coming.

Using agents from Salt Lake City to purchase a home in Cache County would not be a smart choice. If you have an agent you like in other areas, ask the agent in Cache County to pay them a referral fee, and use the expertise of an agent familiar with the local market.

  • How Busy Are They?

When choosing an agent, you want to make sure they have the time to take care of your needs thoroughly. Some say that you don’t want to work with busy agents because slower agents have more time to work with you. I don’t think this is true.

Busier agents seem to be more time sensitive and use their time wisely. Busy agents are more efficient and have great systems to give their clients great service. That’s why their busy. They provide a great service, and their clients are happy with what they receive.

  • Will They Handle All Aspects Of Your Transaction Or Do They Have Assistants?

Many agents have assistants they delegate tasks to. Here at our office, I have two full time licensed assistants to help me make sure my clients needs are met quickly and sufficiently. Knowledgeable assistants are invaluable to a real estate agents business.

If you can’t reach your agent, you can usually get a hold of the assistant.  Be sure that your agent doesn’t put all of their work in their assistants hands, you still need to be able to connect with them.

  • Will They Provide You With Sufficient Community Information?

Information on things such as schools, job growth, real estate statistics, their company etc. should be a high priority. Knowing how to sell real estate isn’t all about selling a home. Knowing the communities and market data  they work in is part of a real estate agents job.

  • Is Their Real Estate License In Good Standing And Do They Have Any Complaints?

You can find out if your Utah real estate agent’s license is valid, on probation, or in-active by going to https://secure.utah.gov/rer/relv. Just type in the agents name and press send.  Here is what my record looks like: Lisa Udy’s Real Estate License.

My license says it was issued in 2009, which was when I acquired my brokers license. (I’ve had an agents license since 2001.)  Follow this link to find out the differences between a real estate broker and an agent. Also, you can see I have never had a disciplinary action filed against me.

  • How Much Education And Experience Do They Have?

Education and experience are two different things. An agent could have all of the designations in the world, but if they only sell 1 or 2 homes a year, how experienced are they working with problems that arise in a real estate deal?

Can they handle re-negotiating a repair? Do they know how to win a negotiation to get you the best deal? Just like any school, you can’t teach experience, it has to be learned.

Agents have access to the knowledge of their real estate broker for these situations. Make sure if you’re working with a newer agent, they have the support necessary to keep your deal together. If they have a broker who is unavailable, you might need to find another agent.

Put Together This Agent Interview Checklist:

  • Contact Availability: Email/Phone/Facebook?
  • Office Location?
  • Number Of Homes Sold This Year? Last Year? Career?
  • Number Of Buyers Represented This Year? Month? Working With Right Now?
  • Knowledgeable About Neighborhood?
  • Work Days? Evenings? Weekends? Holidays?
  • Available On Your Time?
  • Require Exclusive Buyers Representation Agreement To Look At Homes?
  • References?
  • And Anything Else You Want To Add….

Pick The Best Agent – You Shouldn’t Expect Anything Less

Buying a home is a huge commitment. Don’t assume any Logan UT real estate agent can get you through to the closing table with the best price, the best conditions, in the least amount of time, and minimal stress.

There’s a reason 7% of real estate agents do 93% of the business. They work harder, have more experience, are easy to communicate with, and can negotiate the best deals for their clients.

You should pick a real estate agent the same way you would pick a new employee. Ask them qualifying questions, check their background, talk to references, and don’t go easy. You deserve the best.


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Choosing A Realtor To Sell Your Home

June 23, 2010

For whatever reason, you’ve decided it’s time to sell your home. You basically have two options; sell yourself or hire a Realtor. Selling a home on your own is your own business, I won’t discuss that here. This post is about helping you decide on a Realtor that’s going to do the best job, for [...]

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Tips To Choose A Real Estate Agent

June 16, 2010

When looking to buy or sell a home, you’re first step might be choosing a real estate agent to help you. Once you let yourself be known that you’re interested in working with a REALTOR, the flood gates will open, and you will be bombarded with solicitations. So, how do you choose which agent is [...]

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Does Your Real Estate Agent Respect Your Personality Type?

June 11, 2010

Being a real estate agent allows me to meet many different people everyday. I have met people from all over the world. Just last year I met a couple, she was from China and he was from France. They were some of the most interesting people I have ever met.  I learned very quickly that [...]

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How Does A Real Estate Agent Price A Home?

May 11, 2010
Pricing Calculations

That’s a great question. Unfortunately, there is no answer, because a real estate agent doesn’t price a home. You do. Sure, a real estate agent can give you a price range your home should be in, but ultimately, pricing your home comes down to what you want. But beware, pricing a home to high or [...]

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Time For A Career Change? Become A REALTOR(R)

April 7, 2010

Have you been thinking of changing your career? Are you sick of being another 9-5 drone? Have you thought about becoming a real estate professional? If you have, here are some things you need to consider before taking the plunge. The first step is getting your license. In order to get your license in Utah, [...]

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