School is Now in Session!

Now that school is back in session, I keep thinking about the "fundamentals" or things that are important during a transaction that might not seem so important to buyers or sellers.  With everything going at such a fast pace, its easy to let things slip by for fear of having to spend more time than necessary with "boring" things like paperwork.   Each area of the country comes with its own "special needs" areas requiring proper disclosure.  For instance, here in Hampton Roads, Virginia you might come across issues such as - flood insurance, historic districts, transportation and roadway concerns, military air disclosures for noise/accidents and the list goes on and on.  Buying and selling have the same basic principles across the board no matter where you live, but its always good to ask about any special concerns regarding your home purchase/sale.  Do not be afraid to ask your Realtor if there is something you don't understand!  There's never a dumb question - just don't be silly by not asking because you think you should already know the answer.  If you don't ask, you may second guess yourself or not be prepared.  The more information you have, the better informed you will be, helping you to make the best decision you can make.  Here are a few good things to make sure of when buying or selling:

• Do you have an agreement in writing outlining each parties duties and responsibilities?  This includes the agreement between you and your Realtor in addition to your sales agreement with the buyer/seller.
• Do you have a copy of everything that you have signed including any changes/amendments to your contract?  This should include any state required disclosures, buyer broker agreements, etc.
• Have you read everything you have signed that your Realtor has gone over with you?  I know its kind of boring to read legal mumbo jumbo, but its there for your own good - and protection so that you don't make a decision without knowing all the details.
• Do you understand what you have signed or gone over with your Realtor? 
• Have you asked questions to clarify anything you haven't understood?
• If this is your first time buying/selling, its a good idea to have your Realtor type up a tentative timeline so you can keep track of "what happens next?"

Buying/selling can be exciting in a good way - make sure you are a good student and READ, UNDERSTAND and ASK QUESTIONS when you don't!

Need to buy or sell in the Newport News, Hampton, Williamsburg, York, Poquoson, Smithfield, Isle of Wight, Suffolk or outlying areas?  Give me a call.  I'm at the helm of it!