Ann Byer Homes

Tenancy screening is very important and can save you from a major headache in the future

2010-02-25T08:37:00.000-08:00

Tenant Screening Reports Eviction History
If you're a large or small landlord, you're challenged with finding the "right" tenant. You want one that pays on time and keeps the rented unit clean and causes no problem. Sounds like a simple request. You can ask for previous landlord's references and work references and hope for the best. What about a tenant's credit history, eviction data or bankruptcies? You can ask many questions on a credit application and hope they are answered truthfully. Many landlords and real estate agents aren't sure how to go about obtaining a credit report or obtaining it legally. Here's a tenant screening solution we like.

The industry's first web-based rental screening solution
Unlike traditional tenant screening methods, RentLaw.mysmartmove is all online, for you and the tenant. Once you create an account, all you need to get started is your potential tenant's e-mail address.

TransUnion RentLaw.mysmartmove is designed specifically for independent rental owners and smaller property management groups. A comprehensive database of credit and criminal background information offers you the same technology used by the largest property management firms in an easy-to-use, cost-effective solution. This also provides renters with data privacy because they provide their identifying information directly to TransUnion in a secure, online environment.

NEW IN INKSTER

2010-02-25T08:24:00.000-08:00

BEAUTIFUL CONDO RIGHT ON GOLF COURSE

2010-01-23T20:42:00.001-08:00

BEAUTIFUL NORTHVILLE CONDO

2010-01-23T20:23:00.000-08:00

ROYAL OAK STARTER HOME CLOSE TO DOWNTOWN

2010-01-23T20:17:00.001-08:00

GREAT STARTER HOME

2010-01-23T20:08:00.001-08:00

Inspection

2008-09-24T12:30:00.000-07:00

Hi what I would like to talk about today is the inspection process when a home is sold. What I have found is that after a deal has been negotiated it seems like the buyer wants to further negotiate at the inspection by trying to find things that are wrong with the home. I can't tell you how many times I have sold a home and then at inspection I hear the client say "take pictures and write everything down because we can try to negotiate further". I am speaking of both situations of representing the buyer and the seller. Therefore, when I negotiate a great deal for my client on the buying side I usually always tell my buyers that unless there is something seriously wrong that has not been disclosed we are not going to use this inspection as a tool to renegotiate or you will risk losing this home. On the sellers side when a buyers agent has negotiated a good deal I will tell the buyers agent do not come to me with again anything that is not seriously wrong with home and not disclosed because we will not renegotiate. I find by using this tactic everyone is on the same page and it saves the potential for the deal to go south by either upseting the seller or buyer where eveyone loses.

You also have to be careful of the inspector you use because some feel that unless they find something wrong they feel like the client feels like they paid for nothing. Not too long ago I neogtiated a deal for my buyer that was great, the home was 500,000 and we negotiated down to 417,000, the seller made no money. The home was new so basically the city had inspected it and everything was to code. Regardless, we had an inpsection done and when the inspector called me he was very inpressed with the home and said it was a great built home. I did not happen to be at the inspection (which probably was not a good idea) and found out later that the inspector had pointed out some things that he suggested to change but was not necessary. Long story short my buyer calls me and tells me that the inspector said that there was not a fan over the stove and that there should defintely be one so went on further to say that she had ordered a fancy fan vent costing 2500 dollars and wanted the seller to pay or else she would not buy the home. Well, I called the inspector and asked why would you say there was something wrong when it passed code by city inspector and his anwer was because if we don't find something wrong with the home it makes me look bad and you look bad. I asked why? He said because then they think they did not need my inspection and wasted their money and then I provide no value. I said the purpose of the inspection is to make sure that there is nothing majorly wrong and that he/she is fully aware of everything with the home before the buyer continues with the purchase and now I have a buyer wanting a 2500 dollar vent fan which is ridiculous. My buyer kept on threatening she would not close and well needless to say the seller would not pay for such luxury so I played my buyers bluff and said walk away from the deal if you feel you don't agree. She realized at that point that she was not going to win infact she would lose the opportunity to buy a very undervalued home and we closed the deal. Needless to say I never used that inspector again because there are many things that can avoid a closing and an inspectors foolishness is not going to be one of them. Please don't let it be one of your reasons for not closing.

Sincerely Ann Byer

Foreclosures versus Short Sales

2008-09-12T06:37:00.000-07:00

Alot of buyers today who are looking to purchase a home almost always say I am looking for a good deal, a foreclosure. I then further ask them why do you think that a foreclosure is the only good deal out there? They typically say, well I want to buy a home that is undervalued and live there for a while and build equity. I always explain to the buyers that first with foreclosures Sellers Disclosures are not required which means that the Bank has not lived in the property and the property is offered as a as is" condition. This may not mean anything at the time and it might very well not ever be a problem but when things go wrong there is no one to point the finger at. That is the first point the second point is that banks are not always as negotiable as someone needing to sell for whatever reason or a corporate owned home where they can be extremely negotiable. Foreclosures alot of times are not a turn key property in many cases they have not been taken care of and sometimes the property has been raided of fixtures, cooper pluming etc..... A short sale is probably a better option since the homeowner still owns the property and in most cases are still living there and they have reached an agreement with the bank that they will not pay off the full loan amount. This occurs usually becasue they have no equity in the home and the home is not worth on the "Market" what they owe the bank. Usually banks are cooperative because they would rather see the property sell then go into foreclosure. Of course the sellers have to be in good standing with the bank and in good communications. Hope this helps someone understand foreclosures better.

Ann Byer

248-787-7895

www.annbyerhomes.com

sold@annbyerhomes.com

Is it Time to Buy a House?

2008-02-03T12:14:00.000-08:00

Yes, it's time to buy a home right now. There has never been a better time to buy a home than right now. Interest rates are low and property values have gone down and sellers are in the mood to neogtiate. I am finding that the buyers out there are unable to see a deal of a life time when it's facing them right straight in the eye. Why, I think it's because they are waiting for the market to hit a lower bottom, or perhaps they are listening to all the negative news that is really not complete reality. Right now if you are able to get a morgage and buy a home you would be very unwise not to make this move. Most importantly, make sure you associate yourself with a good Realtor who first WORKS full time and knows his or her market. A good Realtor can successfully communicate to your the real value of the home on the market today and they can negotiate a good deal on your behalf. Do not work with a Realtor who is unable to communicate to you that a home is a great deal or not. A good Realtor will find you your home and negotiate the best possible price for your home not make you lose the opportunity of a lifetime.

Buyer Agency

2007-07-17T07:02:00.000-07:00

Today I would like to talk about the buyers agency contract. A buyers agency contract is when a buyer hires a Realtor for a certain period of time for the purpose to purchase a home. First, let's look at the scenario of a buyer looking to buy a home without the representation of a Realtor. A buyer goes out looking for homes perhaps on the weekend. The buyer enters the homes that are OPEN and sitting in the home whether it is a conustruction home or a resale home is a sellers agent. The sellers agent represents the seller and is obligated by law to obtain the highest possible price for the seller and to negotiate on his behalf. Legally, that Realtor should disclose agency immediately and advised that you not tell them anything about your financial circumstance that will hurt you in negotiations. However, many Realtors neglect this fact and don't say anything at all. What happens in this case is the Lising Agent (which is the Sellers Agent) is works for the seller and is now in a position of dual agency. This means that he must know split his fiduciary duties to two people (and realistically how can you do this). Now the buyer has no representation no negotiator looking out for his best interest but the Lising Agent makes a 6% commission. Here is where a Buyers Relator Agency Agreement plays a crucial element of your success. You come in with your Buyers Agent and immediately he is looking out for your best interest and he negotiates a price as low as possible for you and now instead of the Selling Agent making 6 % he now makes only 3% because he must give 3% to the Buyers Agent. Now both parties are represented and have a fair chance at working out a deal that is best for both parties. Next time you walk into a place unrepresented at least remember that every time you talk you lose money, every time you show emotions that you like the home you lose money. Don't allow the selling agent to sell you a home without you being represented. This is just a very important point I would like to share with my readers. Until the next post.