WiNorthwoodsRealEstate.com

Questions For you to Ask:

   When it comes time to start "looking" for a property, there are certain questions that you should always ask me so that you are knowledgeable when it comes time for negotiations of the sale and purchase.

1 - Why are the current owners selling?
   This is important to know so that you understand their motivation when it comes time to negotiate with them on the purchase price and details. Many sellers aren't in a hurry, while others may have already moved and are sitting on two mortgages. Ask yourself�which one would be more likely to negotiate more?

2 - How long has this property been listed for sale?
   The amount of time on market can reflect the seller's willingness to negotiate. Like above, it is possible that the owners have already moved and are carrying two mortgages�or maybe the house isn't priced within the range of the surrounding market and that could be why it hasn't had much activity.

3 - What comparable properties are in the area?
   This will help you decide weather the property is priced appropriately and within the realm of the current market conditions. A brand new 3 bedroom 2 bathroom home that is 2000 square feet located on 25 acres would most likely have more value than a 3 bedroom 2bathroom home that is 2000 square feet located on 1 acre and built in 1960.

4 - What is included and not included with the purchase price of the property?
   This can be beneficial for you to know so that you know what you are getting for the price you are paying. An example would be if you toured a property and saw a 60x80 pole building on a concrete slab and your first thought is "Oh great, a place for the pontoon boat, fishing boat, snowmobiles, and all the other toys!" But then when it came down to closing, you go to your new property only to find the Pole barn gone because it wasn't written in as part of the deal. Guess what, you have no place to store your toys.

5 - What are the costs involved with owning the property?
   I'm sure you'll want to know what the regular gas, electric, and taxes are for the property. You may currently be used to a $100 WPS bill every month and the property you are looking at may have an average bill of $250. Maybe taxes are $3000 higher than what you are used to paying. Affordability is important when it comes time to buying.

Your Search criteria

   Your Search Criteria is another important factor when starting to look. It is very important that you tell me everything that you are looking for in a property, including things that you specifically do not like or want. The more I know, the better I can help you find what you are looking for.

1 - What type of property are you looking for?
Will it be your permanent residence, vacation home, hunting land, or just something to have as an investment?

2 - What price range and financing options have you researched?
   This is helpful so that I don't pull properties that are $100,000 more than what you are willing or can spend. Having a pre-approval from a lender (if needed) can be helpful especially when it comes time to make and offer on a property. It can make the offer stronger if submitted with a pre approval letter. Many sellers see that and think "Ok, these people are serious".

3 - What are important features that are specific to your needs?
   Examples are needing a minimum of a two car garage, preferring a fireplace, wanting a full basement weather it be finished or not finished, wanting a newer home rather than something old, wanting all hardwoods with a minimum of 10 acres, etc� These details are important for me to know so that I can weed out the properties that don't fit your needs. Any wants / needs that you have are important for me to know.

Buyer's Agency

   More and more Buyer's are hiring Realtors to work on their behalf instead of the seller's behalf. This is called Buyer's agency. If you prefer to have an agent represent you on your behalf, you will have to sign a buyer's agency agreement. This agreement will list all the fair treatment duties that are owed by all agents and parties in the transaction, and also lists the duties that are owed to you, the buyer. You as the buyer would have the right to negotiate a fee with the buyer's agent and weather that fee will be paid by yourself, the listing broker, seller, or a combination of the choices. This fee is paid when he or she successfully helps you find a property and negotiates a purchase contract in accordance with the agreement you both came up with. A buyer's agent still owes fair treatment duties to all parties, with a higher level of agent /client fiduciary duties to you as the buyer.

Liz Taylor, Sales Associate
Jake Nelson, Sales Associate
601 Lincoln Street
Rhinelander, WI 54501
1-800-935-4492
Fax:715-369-4990
info@winorthwoodsrealestate.com

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. Liz Taylor, Jake Nelson, and By Request Web Designs shall not be responsible for any typographical errors, misinformation or misprints. COLDWELL BANKER� is a registered trademark of Coldwell Banker Corporation. COLDWELL BANKER� Real Estate Corporation. Each office is independently owned and operated. COLDWELL BANKER� is a licensed trademark of COLDWELL BANKER� Real Estate Corporation. Equal Housing Opportunity.

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