Buying with FARE
YOUR MOST IMPORTANT INVESTMENT DESERVES PROFESSIONAL ATTENTION
In today’s wired world, there are countless resources and guides for prospective buyers to refer to. However, nothing can compare to having an experienced professional advising you on the best practices, insider angles and hidden risks, which could otherwise cost you unforeseen time and expense.
As a buyer, having a professional by your side when purchasing property is a win-win, requiring little or no investment. Here are just a few more reasons why buying with The FARE Group is the smartest choice.
BEST PRACTICES: Buying a home can be a daunting experience which usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, contracts, etc. A knowledgeable FARE agent will help you prepare the best deal, and avoid costly delays or mistakes.
INSIGHT & EXPERIENCE: Most people buy only a few homes in a lifetime, usually with quite a few years in between each purchase. And even if you’ve done it before, laws and regulations change. In addition, there are many negotiating factors including price, financing, date of possession, inclusions and exclusions. We have experience navigating through various types of real estate transactions and having an expert by your side is critical.
EXTENSIVE RESOURCES: Sometimes the property you are seeking is available but not actively advertised on the market. The FARE Group has the resources, know-how and time to find and investigate all available properties that fit your criteria. Additionally, The FARE Group has access to over 30,000 property listings through its Residential Listing Service (RLS) and Multiple Listing Service (MLS).
OBJECTIVITY: A home often symbolizes family, rest, and security. Because of this, the process can be emotional for most people. Having a concerned, but objective, person by your side will help you stay focused on the issues that are most important to you. Our agents play this role while providing objective information about each property.
CODE OF ETHICS: The FARE Group is a member of the Real Estate Board of New York (REBNY) and the Hudson Gateway Association of Realtors® (HGAR). Not all real estate practitioners are members of these prestigious real estate associations whose members subscribe to a strict Code of Ethics, based on professionalism and protection of the public. As a customer of The FARE Group you can expect honest and ethical treatment in all related matters.
Balancing Your Needs & Desires
Few purchases in life are filled with as much emotional or financial weight as the purchase of property. When determining the criteria for your ideal property it’s understandably easy to become overwhelmed by the many factors at hand, or to make decisions which are based more on emotional considerations than the larger, long-term picture.
An objective, experienced broker is an invaluable resource who will help you weigh the many details that make up your ideal property description, including:
Size & Amenities: Rooms, size (sq. ft.) and “must-haves.”
Location: Building location, layout, condition, light, view, etc.
Ownership Type: Cooperative, condominium, house, etc.
Building Style: New, modern, prewar, brownstone, loft, etc.
Budget: The amount you can afford in terms of monthly cost.
Determine What Can You Afford
How much you can afford to spend on a property depends on several factors including debt to income ratio, amount of down-payment, cash reserves and credit worthiness. We help you determine the parameters in which you can reasonably make a purchase. In addition, when necessary, we recommend you to mortgage professionals that will help you definitively define your parameters for financing.
Examine Your Cost v. Price
The cost of a home is a combination of selling price, down payment, maintenance fee, mortgage rate and term. Searching by price alone severely limits your options. The FARE Group has the tools to quickly identify the properties whose requirements to purchase fit your criteria.
Show Appropriate Properties
Your FARE agent will show you properties that fall both above and below your targeted affordability level and those that possess dominant features you desire such as an outstanding view, location, amenity or architectural highlight. This process will help you to establish a sense of value and enable you to make the decision to move forward on the perfect property.
Negotiate Contract Terms
FARE agents are experienced and specifically trained on key elements to successfully negotiate various terms of the deal such as sales price, down payment, financing conditions, closing date, inclusions and exclusions. When appropriate, we may offer protective language for inclusion in the contract of sale.
In addition we provide you with an estimated timeline of events from the date an offer is accepted through to the date of closing.
Manage the Contract of Sale Process
While it is your attorney’s responsibility to generate the contract, we manage the contract signing process to ensure the smooth and full execution of same in a timely manner.
Prepare the Board Application
(Required by Coops and some Condos)
Upon contract signing, we will assist you in compiling documents necessary to complete the board application as well as suggest ways in which to enhance your application. We, further, critically review the application prior to its submission and prepare you for the board interview, if necessary.
Manage the Closing
We assist in coordinating the closing date, time and location with interested parties as well as conduct the final walk-thru with you immediately preceding closing. Your FARE agent will convey any issues upon final inspection to all pertinent parties as well as assist in the smooth resolution of same, when possible.
Contact to closing, The FARE Group will coordinate and oversee the entire sales process: property due diligence, negotiations, contract signing, mortgage process, appraisal, property inspection, board application, board interview and closing. We will act as a liaison between managing agent, mortgage representative and attorneys while keeping in constant contact with you regarding all developments.
Your broker may recommend professionals in various areas outside of real estate brokerage including credit repair, down-payment assistance, mortgage financing and legal representation, as it is very important that you make your selections for professionals based on their experience with performing similar transactions.
Your ideal property is waiting – let a FARE Agent show you!