Services to the Buyer

Before working with a real estate broker, you should know the duties of the broker depend on whom the broker represents. Alabama License Law allows, you, as a buyer, to have Buyer Representation. "Someone in your corner." For More information please contact me at lori.carter@arealtygroup.com

The broker becomes the buyer's agent by entering into an agreement to represent the buyer, usually through an Exclusive Buyers Agency "Agreement"

This Buyer's Agreement clearly gives you, a buyer, someone in your corner. It spells out the broker's and the agent's responsibilities to you as a buyer.

Representing you, there are several things we would do first:

Once you have decided on one or more properties, we will run tax/property information, property listing histories, and comparisons of like properties that would have sold from the street/neighborhood to help you arrive at a suitable price to offer. What we call a CMA. When you are ready, we will prepare a contract for you and negotiate it in your best interest. After a contract is agreed upon between you and the seller, we will accompany you through inspections, mortgage appraisals and finally, closing. We will be available to help you along every step of the way.

This is what myself, an agent of A REALTY GROUP considers Buyer Representation

Choosing a Mortgage Broker

In looking for a house, the smartest thing you can do is to suffer through a 30-minute phone conversation with a "good" lender to get a ball park idea of where you should be on the price scale in your search.

If you plan to purchase within 6-8 weeks, it then also is wise to go through the entire written application process, and have, in hand, a lender's pre-qualification letter. What this means is that you have been qualified (paperwork done) to purchase up to a certain priced home. When you find a home within that range, the only thing that remains is the appraisal of the home and your mortgage.

We've included the names of a few good mortgage companies for you to start with

Alabama Homestead Law Information

There is a plus - you are entitled to a "Homestead Exemption" (tax discount) on your taxes if you are actually living in your home (not investment) and if it is your primary residence. The tax year in Alabama is from October 1 - September 30 and the tax year is in rears. At closing there will be a credit given to the purchaser in order to pay the taxes for the time period that the seller has occupied the property during the tax year.

Upon receiving your deed in the mail take it to the courthouse or any courthouse annex to apply for your homestead exemption. This must be completed by December 31 of the year the home was purchased. Don't wait! "When you see Blue, go do it" otherwise your taxes will be double the amount because it will be classified as investment property.