| FAQ
General Questions
1. What
is a REALTORŪ and why do I need one?
2. When do I need a REALTORŪ?
3. What is the MLS?
For Buyers
1. What are
the steps in buying a home?
2. How do I get pre-qualified
or pre-approved?
3. I'm relocating from
out-of-state, where do I start?
4. Do I need to sell my
home first before I buy my next home?
5. What types of home
financing is available?
6. What kinds of relocations
services do you offer?
7 . What type of services
do you offer for home buyers?
8. I see homes for sale
with a warranty, what is covered and for how long?
For Sellers
1. What is
involved in selling my home?
2. What is a CMA and
how can I get one for my home?
3. Do I need to get my
home appraised before I sell it?
4. Do I need to get my
home inspected before I sell it?
5. What should I do to
prepare my home before selling it?
6. What type of services
do you offer for home sellers?
7. Do you give any guarantees?
8. What is a home warranty
and do I need it?
9. Generally, how long
does it take to sell a home?
Answers to General Questions
1. What is a REALTORŪ and why do I need one?
A Realtor is a Real Estate professional that is a member
of the
NAR that must comply with the Code of Ethics and
Standards of Practices established by NAR.
Not all Real Estate Professionals are REALTOR's. As professionals,
it is our duty to know and adhere to Florida's Real Estate
Law and to practice with a high code of standard and ethics.
Working with a REALTOR has all the benefits whether you are
looking to buy or sell real estate.
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2. When do I need a REALTORŪ?
Buyers usually bypass finding a Realtor to help them.
Although it can be accomplished, finding a Realtor to help
you should make the process much easier and faster specially
if it's not going to cost you anything. Getting some help
always makes the whole process painless and gives you more
the peace of mind whether your buying real estate or buying
a camcorder.
Sellers usually try to sell their home first on their
own before working with a real estate professional. For Sale
By Owner (FSBO) are very common but success rate is usually
low. Why? Because exposure is limited to local buyers. Forty
percent of the buyers are from out-of-town. These are the
people who search through the MLS or looks in the internet
as their source. To sell something, you need a good marketing
strategy. As your Realtor, I will give your home maximum exposure
through an extensive marketing strategy.
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3. What is the MLS?
The Multiple Listing Service is a service that allows
for the sharing of all real estate properties listed for sale
by brokers in a certain area. This is a powerful tool that
is purchased and used by majority of the agents not only to
list a property but also in searching for a specific property
for a buyer. All real estate agents and brokers working within
the area have access to the MLS. As one who have full access
to it, I will either help you find your home or list your
property in the MLS for a period of 6 months or more. This
is one of the best way to market your property.
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Answers to Buyers Questions
1. What are the steps in buying a home?
Buying a home requires careful planning because it is
far most one of the biggest investment one can make. It becomes
more critical when you are not familiar with the area that
you are moving into. Here in the Hawaii, there are many eye-catching
communities that gets new home buyers really excited. But
watch-out, there are also those communities that current residents
feel they may have made the wrong decision. I don't want you
to be one of them.
Whenever I am making a major purchase, I always check
my credit history by getting a credit report through a reputable
credit reporting agency like Equifax.
This is assuming that your are getting a loan. I usually do
this much earlier so I can buy time to fix any bad credits
or unexpected discrepancies in the report. But if your are
confident of your credit rating then you can walk into your
lender with confidence. Next, get pre-qualified or better
yet, pre-approved by a reputable financial institution or
lender This way, you will know how much home you can afford.
If you need to sell your current home, it will be a good idea
to find out your net. This way, you will have an idea of how
much you may want to put down (See What is involved in selling
my home?).
Know what is important in an area or community you and/or
your family are looking for. Prioritize them and then collect
all information of an area that satisfies either part or all
of them. Use the elimination method. Sometimes, there are
things that may need to be compromised. Know the property
taxes in your County. Find out the schools, utility companies,
stores and nearest highways. Know what the government's (State
or County) future plans are for that city and community and
see how it may affect your living as well as the appreciation
of your home.
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2. How do I get pre-qualified or pre-approved?
Pre-qualification and pre-approval is the process of finding
out how much home one can afford depending on the type of
loan one wants to get. It can be done for an FHA, VA or the
common Conventional loan using different formulas. A professional
real estate agent can get you pre-qualified. You can get pre-approved
through a mortgage broker of your financial institution. Pre-approval
gives you more security and assurance.
Go to our Tools
and Calculators section and find out more.
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3. I'm relocating from out-of-state, where
do I start?
The first step is finding the right area for you and/or
your family. Honolulu and the surrounding areas offer better
living through newer and better communities that fits the
sun-loving, warm-feeling lifestyle. There are many newer communities
that are popping-up in the Honolulu area. Check out the New
Communities section.
Thirdly, plan your trip here in Hawaii and let me know
the area and community your interested in looking at and I'll
be happy to bring you there. Additionally, I will tell you
and show you around the best communities in the area.
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4. Do I need to sell my home first before
I buy my next home?
If you intend to sell your primary residence, most new
home builders offer contingencies up to the point where they
are ready to put up the drywall of your new home. If your
not buying a new home the seller may or may not accept a contingency.
Either way, depending on your financial status and credit
score the lender may or may not approve you for the loan.
Also, mortgage rates are typically higher for a secondary
or vacation home. Check with your mortgage broker to see what
options you have.
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5. What types of home financing are available?
There are only two types types of financing of which it
may be combined, owner or seller financing or through a mortgage
from a financial institution. There are three types of mortgages.
FHA, VA and the most common, conventional. Then there are
different types of mortgages. Please consult your mortgage
broker to see what type of mortgage fits your needs.
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6. What kinds of relocation services do you
offer?
I have included a Relocation
Services section that contains links of well-known
home movers, auto movers and storage services from around
the country. Also, in this section you will find some tips
to make your move go smoothly. We also offers relocation assistance
through a relocation specialist. If you think your going to
need one.
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7. What type of services do you offer for
home buyers?
1. Guide and assist you in the home buying process.
2. Help you find the community that fits your needs.
3. Search the Multiple Listing Service for you everyday for
homes that matches your criteria.
4. Inform you in all critical steps of the buying process
to keep you reminded.
5. Set up an appointment and accompany you in viewing all
the homes that suits your needs.
6. I will prepare, explain and present all offers on your
behalf and represent you in the negotiations.
7. Explain all documents, including disclosures, government
papers and closing documents.
8. Accompany you in the pre-closing walk-through of your home.
9. Accompany and fully represent you in the whole closing
process.
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8. I see homes for sale with a warranty, what
is covered and for how long?
Home warranties are getting very common with sellers specially
for a home that is at least 5 years old. Warranties usually
cover a home's all major working components like the water
heater...furnace...built-in appliances...electrical wiring...central
air conditioning...exposed duct work...interior plumbing system
and fixtures from breakdown for a period of 1 year. CBPP offers
the Home Warranty Protection Plan to either the buyer or the
seller. If your going to buy a home without a home warranty,
you may want to purchase this plan. Coverage begins from the
day of closing to a period of 1 year. If your planning on
selling your home, including a home warranty makes your home
more attractive and gives your buyers an incentive. From a
marketing standpoint, it will give your home an advantage
from other homes being sold in your area without one.
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Answers to Sellers Questions
1. What is involved in selling my home?
When we shop for a product in a department store, we examine
the product, its quality, its price and its warranty before
we make a decision. The buyers of your home will do the same
plus more since this will be a big investment for them. To
sell your home, in order to attract buyers, your home must
be attractive, in good or better condition and importantly,
priced fairly. Having a home warranty will be a plus. A good
rule to keep in mind is to always put yourself in the buyers
shoes setting aside your emotions and being as critical as
possible.
If you have been living in your home for a while, there's
usually things that needs to be fixed or maybe even replaced.
Start with the front door. This is the first place the buyer
will see. Remember, first impressions are important. Then
work on the kitchen since it's usually the focus inside the
house. Clean or replace the carpet. Clean all bathrooms and
make sure to fix the plumbing specially for leaks. Re-paint
walls that needs repainting. I can go on-and-on but the best
way to make sure that you do the essentials and not over improve
is to hire an independent home inspector. Usually, this is
done by the buyers before the closing but you can stay ahead
of the game and possibly save yourself thousands of dollars
from buyers asking for a lower price due to defects found
by the home inspector they hired.
Price your home fairly. This is very important. If your
home is priced too high, that alone is enough for potential
buyers to not look at your home. You have to look at the comparables.
Make sure your home is priced competitively with similar homes
that's currently in the market. I always prepare CMA's (Comparative
Marketing Analysis) for sellers in their respective areas
before listing their home. Comparables may consists of similar
homes in your area that was sold in the past year; similar
homes currently in the market and; that has expired in the
last 12 months. This process usually involves adjustments.
Not all homes are exactly identical. Finally, get your home
appraised by a professional appraiser. Most home sellers do
not consider this at all. They either don't know better or
they forget and the most common reason, they don't want to
spend the money. To get your home appraised is the best and
sure way to know the fair market value of your home. Why do
you think banks get homes appraised first before approving
a loan? Get your home appraised, this may be the best expense
you could ever make.
The next important step will be to market your home effectively.
FSBO's
usually is limited in marketing their home locally through
lawn signs and local paper ads. This is only about sixty percent
of the buyers of which are mostly investors. Forty percent
of the buyers are from outside the area and/or out-of-state.
Once you have a buyer for your home, you want to make
sure they are qualified. You don't want to get all the paper-work
ready and find out that your buyer is not able to pay for
your home. And talk about paper-work, you will need all the
necessary documents prepared for the sale and closing of your
home.
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2. What is a CMA and how can I get one for
my home?
Comparative Market Analysis (CMA) is basically comparing
similar homes in your area that has been sold for the past
12 months; homes which is currently on the market; and those
that have expired for the past 12 months. Since homes are
not exactly identical, appropriate adjustments are then made
to bring all homes to a level to come up with a competitive
listing price and fair market value. Other cases like available
financing and market conditions are also considered. I always
prepare a CMA for a home to help and guide the seller in deciding
a competitive listing price for their home. Note that CMA's
are not to be mistaken as an appraisal.
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3. Do I need to get my home appraised before
I sell it?
Although you are not required to get your home appraised
before you sell it, it is advisable because it is to your
advantage if you do. Spend the extra money to get your home
appraised by a professional appraiser. This way, you will
know the real fair market value of your home. If needed, you
can use the appraisal report during negotiations. It can also
save you time if a buyer is considering getting a loan.
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4. Do I need to get my home inspected before
I sell it?
You are not required to get a home inspection before selling
your home but it is not a bad idea. Buyers usually get the
home inspection before the closing to be able to find out
any hidden problems that the house may bring. Problems sometimes
could be a show-stopper and is usually used it for further
re-negotiations. It will be better if you know ahead of time
what you need to fix. Sometimes, sellers fix what they can
see and overlook the most important ones like the roof shingles,
plumbing, termite damage, water damage, concrete cracks caused
by settlements, etc. Newer homes don't usually have this type
of problems but it will not hurt to get your home inspected
by a professional home inspector to cover all bases.
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5. What should I do to prepare my home before
selling it?
Getting a home prepared for sale is not an easy task.
Depending on the condition of your home, it may take months
before your home can be ready to market. People often ask
when is the right time to sell their home? I say it's when
your home has been prepared for the sale. Although, there
are some exceptions like marketing your home for a lower price,
usually only attracts investors and people who are handy or
have the time to do the fixing. Whether you have the time
or not, it's advisable to at least do a little cleaning before
you do any showing.
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6. What type of services do you offer for home
sellers?
Exposure is critical for the successful sale of a home.
That's why I always implement an aggressive marketing strategy
for every home that I list. Anything will be hard to sell
if people can't see it or don't know about it. During your
no-obligation appointment, you will get a marketing presentation
from me to explain what I will do for you and how I will do
it. Below are the things you can expect from me when you make
your appointment:
1. Explain Vision Statement
2. Sit down with you and find out your immediate needs for
selling your home.
3. Create a CMA for your home and present you with a pricing
grid to suggest a competitive listing price.
4. Explain attractive financing offers that we keep available
for potential buyers.
5. Show you all the legal details we pay attention to.
6. Advice you on how to effectively prepare your home for
sale.
7. Provide you ways on how I will effectively market your
home.
8. Show the benefits available to you for listing your home
with CBPP
9. Present CBPP Services available for you and leave flyers
and brochures for your review.
As your CBPP Sales agent, you have nothing to lose, but
everything to gain. Click here
to see more Home
Seller Tips.
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7. Do you give any guarantees?
I present my clients, both buyers and sellers the CBPP
Commitment to Service which is a written guarantee
of your total satisfaction signed by both you and me that
I will perform all the services that I promised to do for
you. If for any reason, you feel that I am not doing those
services promised, then you can cancel our contract agreement
anytime.
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8. What is a home warranty and do I need it?
Home warranties are getting very common with sellers specially
for a home that is at least 5 years old. Warranties usually
cover a home's all major working components like the water
heater...furnace...built-in appliances...electrical wiring...central
air conditioning...exposed duct work...interior plumbing system
and fixtures from breakdown for a period of 1 year. CBPP offers
the Home
Warranty Protection Plan to either the buyer or
the seller. Selling your home with a warranty makes your home
more attractive because it gives your buyers an incentive.
From a marketing standpoint, it will give your home an advantage
from other homes being sold in your area without one.
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9. Generally, how long does it take to sell
a home?
Depending on several reasons like, condition of home,
location, marketing, pricing and market conditions, a home
will sell between 5 days and 6 months. Pricing the home right
is very critical to selling your home and is usually the reason
why it stays on the market longer than it should. Your home
must be priced fairly. This is where a home appraisal from
a professional appraiser can help. I will also sit down with
you to discuss all the things that will affect the sale of
your home plus help you determine a fair listing price.
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