| |||||||
 | |||||||
|
|||||||
|
Q: What is a buyer broker? A: A buyer broker is a salesperson that has fiduciary responsibility is to the buyer, not to the seller and is usually compensated by the buyer but can also be compensated by the seller. Most agents who show homes on Long Island act as a sub-agent that works for the seller. Q: What is a property condition checklist and as a seller do I have to fill it out? A: A property condition checklist is a 48 questionaire regarding the condition of the property. This is given to the buyer at time of contract. You should always check with your Attorney first because there is an opt out of the disclosure for a penalty of $500.00 which most attorney’s advise their clients to do. Q: What are the benefits of an office exclusive and when should homeowner’s ask for this? A: There is usually no benefit to an office exclusive to a home owner. This should be used only in certain situations. When there is an elderly or ill family member in the home less frequent showings might make it easier for the family involved. With an MLS Listing approximately 24,000 agents have the ability to show a home. The more purchasers who are seeing a property usually correlates to a quicker sale at a higher price. In our opinion, if an agent asks for an office exclusive you should be talking to another agent. Q: If I own my own business and do not declare a large salary or am presently not working can I still qualify for a mortgage? A: Yes, There are a wide variety of no income loans that are available to people who qualify in other ways |
|||||||
