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Buying - 11 Steps

Buying Your New Home

Interested In Buying A House, Condo or Townhouse?

Today’s market is ripe with opportunities for both experienced and first-time buyers and with some of the lowest interest rates EVER your buying power has rarely been greater! While shopping for and purchasing your first home or next home is an exciting time, it can also be very stressful due to multiple offers and reduced inventories. Once way to manage the stress is before you begin looking, to make sure you’re completely prepared and know what to expect. The following most common steps will help get you ready to make that big purchase

Check out the 10 Steps To Completing Your Move

& What Happens When You Want To Buy One of Mitch's Listings or when You are wanting to Sell A Place

  • STEP#1

    Freshen Up Your Finances
    Reason #10 - Listing Agents work for the SELLER NOT for you as the BUYER

    Listing Agents have a legal obligation to disclose all known information about a BUYER and to get the highest price with the best terms for the SELLER

The Other Steps In Purchasing Your New Home
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    Reason # 9 - Listing Agents are legally obligated to withhold information from you as a BUYER.

    Listing Agents cannot share with a buyer what purchase price a Seller might accept or reasons NOT to buy a property since disclosing this information is not in the best interests of the SELLER

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    Reason # 8 - A Listing Agent can ONLY work as a Limited Agent when working with both, a BUYER and the SELLER on the same Property

    A Limited agent can share information with you as the BUYER about what other comparable properties have sold for. But a Limited agent is not obligated or allowed to explain the other comps when the price or purchase terms on the other homes do NOT support the SELLER’s price and terms.

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    Reason # 7 - A Buyer’s Agent MUST BECOME a Limited Agent to work with you as a Buyer whenever the Property is listed by them or by the Agent’s Managing Broker.

    When you call the phone number on the sign in a yard, window or advertisement, but don’t talk with the Listing Agent, there is still a real possibility that the home was listed by the Managing Broker of the Listing Office. When that happens any Agent, legally tied to that office/Broker, MUST automatically become a Limited Agent to work with you as the BUYER. And just like in reason three above, a Limited Agent can NOT fully advise the BUYER as they normally would if they were a Buyer’s Agent.

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    Reason # 6 - Only a Buyer’s Agent is 100% legally and ethically obligated to put the BUYER’s interests first.

    This means only A Buyer’s Agent is legally obligated to get the lowest Price with the best terms for you as the BUYER.

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    Reason # 5 - Only a Buyer’s Agent must 100% of the time recommend a qualified, independent home inspector who will solely represent your interest’s as the BUYER’s verses those of the SELLER.
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    Reason # 4 - While ALL Agents must disclose everything they know, good and bad, about any defects or conditions of a property only a Buyer’s Agent is legally and ethically obligated to share 100% of what they also know about the value or marketability of a property you want to purchase.
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    Reason # 3 - Only a Buyer’s Agent can advise you, as the BUYER, regarding what an initial offer should be, how much to counteroffer during the negotiation process, and ultimately what is a good purchase price for a property.

    Only a Buyer’s Agent can help prepare a Purchase Agreement that is worded to address your best interests as a BUYER.

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    Reason # 2 - A Buyer’s Agent can save you as the BUYER thousands of dollars during the negotiating process.

    When a BUYER works with a Buyer’s Agent the SELLER does NOT have access to information like how much mortgage you have been pre-approved for, what other homes you may have looked at and what you might be willing to pay for the SELLER’s home .

  • THE #1 & BEST REASON TO USE A BUYER'S AGENT
    Reason # 1 - While historically 95% of the time the Buyer’s Agent sales commission has been included in the sales price, and a Buyer's Agent Commission was also part of the sales price of most, if not all of the comparable sales that the seller used to set the sales price on the property you want to purchase.  So this amount, owed to your Buyer's Agent for 100% REPRESENTING ONLY YOU, typically has been paid at closing, as part of the sales price.

    STARTING JULY 1, 2024 INDIANA LAW HAS CHANGED, AND IF YOU ARE NOT REPRESENTING YOURSELF AS THE BUYER, THEN YOU MUST HAVE A WRITTEN CONTRACT WITH A BUYER'S AGENT TO REPRESENT YOU!

    AND, GREAT AGENTS LIKE MITCH HAVE BEEN ASKING THE SELLER TO PAY YOUR AGENT'S COMMISSION, AS PART OF THE PURCHASE AGREEMENT, FOR YEARS!

    So, with your Buyer’s Agent’s commissions being paid by YOU, typically as part of the purchase price, it just makes sense to have an experienced Real Estate professional, who has a legal and ethical obligation to work ONLY for YOUR best interests, on your side .

  • What's Unique About Mitch
    As The Listing Agent?
    What is Unique about Mitch as Listing Agent...

    Although Mitch has client's all over Indianapolis his focus is predominately on working as a Buyer's Agent in the Downtown area along with all of the historic neighborhoods north of downtown to Broad Ripple and east of downtown to Irvington. Typically, although not always, when I do list a property it's because I had initially represented the Seller when they purchased that property. I realize there can be a financial savings for a buyer to working with a Listing Agent, that has offered the Seller a variable commission rate, if the Agent works as a Limited Agent. So, I have taken unique steps to make sure that you, as a Buyer, can take advantage of any of the traditional financial benefits of working with a Listing Agent while always being 100% fully represented... and all of this at no expense to you!

    The Two Unique Ways I make sure you never have to choose between being fully represented and getting the best buy possible as a Buyer.
    1. Three quarter of the four offices, that handled just over 53% of the sales in the heart of downtown in 2015 have Managing Brokers that are also active Agents, which is the case with most of firms you will encounter as a buyer Downtown. But with Keller Williams that is not the case which means that when I show you a home or condo downtown you will never have to choose between continuing to work with me as your Buyer's Agent vs. having to work with a Limited Agent who does not 100% represent ONLY your interests
    2. If you have interest in one of my own listings than at the point that you are ready to make an offer on my listing, I will refer you to a fellow Keller Williams Agent who can fully represent you through the offer and closing process while I represent my seller. This other agent will pay me a referral fee, which allows me to still offer the Seller a discount on their brokerage fee just like if I had "both sides" of a transaction. However, this gives both you as a Buyer and the Seller the best of all worlds since the Seller has more flexibility in what they can sell their property for and yet both you and the Buyer are 100% fully represented. You can learn more about how Mitch gives you as a Seller the most options while still representing ONLY you as the Seller.
      If for whatever reason you and the Seller are not able to come to agreement on my listing, and I had referred you to a fellow REALTOR then I am still available to help you with any other properties until we find and buy the perfect place for you.[/tab] [/tabs]