January 31, 2008 by Mandie Spudich.

Question From A Reader: 

Do you have to have a house inspection when you buy a new house or can I do it myself and save the money? 

Answer:

While it is not required that you have a home inspection, it is always a good idea.  Even if you are handy, it is still a very good idea to have a qualified professional go through the property for many reasons:

• It is difficult if not impossible for the average person to spot all of the warning signs and issues that an inspector will point out for you. 

•  As a buyer, you may have become quite attached emotionally to the home that you are purchasing and that can greatly effect your ability to look at the home in an objective light.

• Also without a professional inspectors report you have no grounds on which to renegotiate if there is an issue with the home, which means that not only can you not get compensated for the repairs, but also that even if there are major problems such as a crumbling foundation, you will have no grounds on which to void your contract!  In other words you buy the property AS IS for better or for worse.

AND FOR THE #1 REASON TO HAVE A HOME INSPECTION

• In the grand scheme of things while you are spending thousands of dollars on a home, the relatively small fee of usually $400-500 can give you peace of mind and often even save you thousands and thousands of dollars on unexpected expenses!

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January 22, 2008 by Mandie Spudich.

PENNSYLVANIA CONSUMER NOTICE 

THIS IS NOT A CONTRACT  

Pennsylvania Law requires real estate brokers and salespersons (licensees) to advise consumers who are seeking to sell or purchase residential or commercial real estate or tenants who are seeking to lease residential or commercial real estate where the licensee is working on behalf of the tenant of the business relationships permitted by the Real Estate Licensing and Registration Act. This notice must be provided to the consumer at the first contact where a substantive discussion about real estate occurs unless an oral disclosure has been previously provided. If the oral disclosure was provided, this notice must be provided at the first meeting or the first time a property is shown to the consumer by the broker or salesperson. 

Before you disclose any information to a licensee, be advised that unless you select an agency relationship the licensee is NOT REPRESENTING YOU. A business relationship of any kind will NOT be presumed but must be established between the consumer and the licensee. 

Any licensee who provides you wiinto a written agreement, the licensees in the real estate company owe you the additional duties identified above under seller agency. The exception is designated agency. See the designated agency section in this notice for more information.

Buyer Agency: Buyer agency is a relationship where the licensee, upon entering into a written agreement, works only for the buyer/tenant.Buyer’s agents owe the additional duties of:

• Exercise reasonable professional skill and care which meets the practice standards required by the Act.
• Deal honestly and in good faith.
• Present, in a reasonably practicable period of time, all offers, counteroffers, notices, and communications to and from the parties in writing. The duty to present written offers and counteroffers may be waived if the waiver is in writing.
• Comply with Real Estate Seller Disclosure Act.
• Account for escrow and deposit funds.
• Disclose all conflicts of interest in a reasonably practicable period of time.
• Provide assistance with document preparation and advise the consumer regarding compliance with laws pertaining to real estate transactions.
• Advise the consumer to seek expert advice on matters about the transaction that are beyond the licensee’s expertise.
• Keep the consumer informed about the transaction and the tasks to be completed.
• Disclose financial interest in a service, such as financial, title transfer and preparation services, insurance, construction, repair or inspection, at the time service is recommended or the first time the licensee learns that the service will be used.

 A licensee may have the following business relationships with the consumer: 

Seller Agency: Seller agency is a relationship where the licensee, upon entering into a written agreement, works only for a seller/landlord. Seller’s agents owe the additional duties of:

• Loyalty to the seller/landlord by acting in the seller’s/landlord’s best interest.
• Confidentiality, except that a licensee has a duty to reveal known material defects about the property.
• Making a continuous and good faith effort to find a buyer for the property, except while the property is subject to an existing agreement
• Disclosure to other parties in the transaction that the licensee has been engaged as a seller’s agent.

 A seller’s agent may compensate other brokers as subagents if the seller/landlord agrees in writing. Subagents have the same duties and obligations as the seller’s agent. Seller’s agents may also compensate buyer’s agents and transaction licensees who do not have the same duties and obligations as seller’s agents.If you enter , except that a licensee is required to disclose known material defects about the property.

• Making a continuous and good faith effort to find a property for the buyer/tenant, except while the buyer is subject to an existing contract.
• Disclosure to other parties in the transaction that the licensee has been engaged as a buyer’s agent.

 A buyer’s agent may be paid fees, which may include a percentage of the purchase price, and, even if paid by the seller/landlord, will represent the interests of the buyer/tenant. If you enter into a written agreement, the licensees in the real estate company owe you the additional duties identified above under buyer agency. The exception is designated agency. See the designated agency section in this notice for more information. Dual Agency:Dual agency is a relationship where the licensee acts as the agent for both the seller/landlord and the buyer/tenant in the sametransaction with the written consent of all parties.

Dual agents owe the additional duties of:

• Taking no action that is adverse or detrimental to either party’s interest in the transaction.
• Unless otherwise agreed to in writing, making a continuous and good faith effort to find a buyer for the property and a property for the buyer, unless either are subject to an existing contract.
• Confidentiality, except that a licensee is required to disclose known material defects about the property.

Designated Agency: In designated agency, the employing broker may, with your consent, designate one or more licensees from the real estate company to represent you. Other licensees in the company may represent another party and shall not be provided with any confidential information. The designated agent(s) shall have the duties as listed above under seller agency and buyer agency. In designated agency, the employing broker will be a dual agent and have the additional duties of:

• Taking reasonable care to protect any confidential information disclosed to the licensee.
• Taking responsibility to direct and supervise the business activities of the licensees who represent the seller and buyer while taking no action that is adverse or detrimental to either party’s interest in the transaction.

The designation may take place at the time that the parties enter into a written agreement, but may occur at a later time. Regardless of when the designation takes place, the employing broker is responsible for ensuring that confidential information is not disclosed. 

Transaction Licensee: A transaction licensee is a broker or salesperson who provides communication or document preparation services or performs other acts for which a license is required WITHOUT being the agent or advocate for either the seller/landlord or the buyer/ tenant.Upon signing a written agreement or disclosure statement, a transaction licensee has the additional duty of limited confidentiality in that the following information may not be disclosed:

• The seller/landlord will accept a price less than the asking/listing price.
• The buyer/tenant will pay a price greater than the price submitted in a written offer.
• The seller/landlord or buyer/tenant will agree to financing terms other than those offered.

Other information deemed confidential by the consumer shall not be provided to the transaction licensee.

OTHER INFORMATION ABOUT REAL ESTATE TRANSACTIONS

The following are negotiable and shall be addressed in an agreement/disclosure statement with the licensee:

• The duration of the employment, listing agreement or contract.

• The fees or commissions.
• The scope of the activities or practices.
• The broker’s cooperation with other brokers, including the sharing of fees.

Any sales agreement must contain the zoning classification of a property except in cases where the property is zoned solely or primarily to permit single family dwellings. 

A Real Estate Recovery Fund exists to reimburse any person who has obtained a final civil judgment against a Pennsylvania real estate licensee owing to fraud, misrepresentation, or deceit in a real estate transaction and who has been unable to collect the judgment after exhausting all legal and equitable remedies. For complete details about the Fund, call (717) 783-3658.  

 ACKNOWLEDGMENT

I acknowledge that I have received this disclosure_

Print (consumer)

________________________________________________

Sign (consumer)

________________________________________________

Address (optional)

________________________________________________

Phone Number (optional)

 ________________________________________________

I certify that I have provided this document to the above consumer.

Print (Licensee)

_____Mandie M Spudich, Realtor QSC_________

Sign (Licensee)

_________________________________________________

Adopted by the State Real Estate Commission at 49 Pa. Code §35.336.

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January 22, 2008 by Mandie Spudich.

• There is less competition for buyers
• Winter prospects are more serious buyers
• Your home looks better during the holidays
• One of the highest percentages of “listing sold” to “listings taken” occurs during this time of the year
• You may receive more money for you home now because you have less competition
• Throughout the holiday season you may restrict showings during your personal family events
• January is traditionally the biggest month for corporate transfers — and you must be on the market to capture those buyers.
• By selling now, you can have a delayed closing or extended occupancy until the spring time if you want it.
• When you sell during the winter, you have an opportunity to buy during the spring, when many homes are on the market.
• You may have fewer actual showings, but the ones you do have will be motivated and qualified.
• Corporate transferees, who need to buy a home now, can’t wait until spring.

For more detialed information visit

 www.toddfry.mandiespudich.com 

or call 724 205 1654

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January 1, 2008 by Mandie Spudich.

600 Clay Ave

Jeanette , PA

$40,000

Great Income Potential!

Large Store front building with newly renovated appartments. 

Additional rental income possible with renovation

 of the unfinished portions of building!

Buyer Will Be Responsible for 2007 taxes.

For more detialed information visit

 www.toddfry.mandiespudich.com 

or call 724 205 1654

Posted in Our Listings | Print | No Comments »