Why Hire a Buyer's Limited Agent?
Missouri law requires that if you want representation, you must enter into a written agreement. While it is true that the Seller's agent will provide every potential buyer with information on the property, it is also true that they are NOT working for that potential buyer. They are assisting the buyer, but it is not their responsibility to look out for the buyer's interests.
What is a Buyer's Limited Agent?
Buyer’s Limited Agent definition
"Duty to perform the terms of the written agreement made with the buyer, to exercise reasonable skill and care for the buyer, and to promote the interests of the buyer or tenant with the utmost good faith, loyalty, and fidelity in the purchase of a property. Information given by the seller to a licensee acting as a Buyer’s Limited Agent will be disclosed to the buyer/tenant."
MISSOURI BROKERS DISCLOSURE
You can see the entire Missouri Broker's Disclosure here. MREC Missouri Broker Disclosure
Hiring Me As Your Buyer's Limited Agent
My job is to provide you all of the information known by me so that you can make an informed decision. It may be as simple as "use that inspector, not that one" but is also helping you put together the details of an offer. If you feel that you just need the information on the property, and someone to submit your offer, then you don't need a Buyer's agent.
CAUTION: There are agents that will use scare tactics, saying something like "The Seller's are represented, you need to be too!" Then they tell you to go out and find the property you want and then they will write up the offer for you. If an agent uses scare tactics to get you to sign an Exclusive Buyer's Agency agreement just write the offer without doing anything else please don't sign with them.
Helping in the Property Search - I will set up the Southern Missouri Regional Mult-Listing system with your criteria so that when an agent posts a new listing that meets that criteria it will be sent to you instantly. You will be one of the first people to find out about it.
I do not care if it is the beginning of your search and you don't plan to actually come to look for months or even years. It only takes me a few minutes to set it up and it runs automatically. It does not send the listings to me, only to you. If the system sends you something that you are interested in, just forward the email to me with a note and I will follow up on your inquiry and get back to you.
Properties You Find on the Internet - Offer stands to provide you with additional information. Where you find a property you are interested in, just forward it to me with your inquiry. I have the expertise to provide aerials, topographical maps, soil maps, county information, schools, anything you need.
Writing the Offer. Here is where having someone looking out for your interests is critical. I can help you make an offer paying attention to all the details that will make it the most attractive to the seller and an offer that will make sure that both parties are dealt with honestly and fairly.
My years of experience negotiating contracts for my clients and my agents' clients will help your contract go more smoothly. Truth is, most closings will have some glitches, we just don't know what they will be, or how long it will take to resolve them. Start with lots of patience, and understand that it is a process that can only be taken one step at a time. Always assume that everyone is working in good faith, and understand that if it is not in the contract it doesn't exist.
Once you have a property under contract there are deadlines that must be met, and the clock is ticking. I will be in constant contact with you to make sure that you are aware of what your options are, and stay on it to make sure everything gets done. It is usually 30 days with financing, and it will be a hectic, sometimes frustrating time until we get to the closing table. But once those keys are in your hand and your dream is unfolding, all of that will be forgotten. It is worth it, and you won't be doing it alone.
Process from Making An Offer to Closing
CAUTION: Cyber Security
Closing scams are happening in real estate transactions. Please be careful when receiving wire transfer instructions by email. Call the title company by a known telephone number, not any telephone numbers provided in the email. Confirm the wiring instructions with your closing agent before transferring any funds. Confirm the receiving bank account with your bank when making the transfer.
Do I have to be there for closing?
You do not have to be here in person to write an offer, or for the closing.
I can easily prepare all of the paperwork to make an offer on a property and email it to you.
One of two ways. If all signing parties have their own email address, I can send the documents for electronic signature. If all parties do not have their own email address I can email the documents to be printed out and signed. The signed documents can then be scanned and returned me, faxed to me, or snail-mailed to me.
Closing
The Closing Agent at the title company in the county where the property typically does the closing. But sometimes folks want to do the closing through their own attorney, or at their own title company. Whatever you are comfortable with is what you should do.
The closing agent can sit with you and go through all of the paperwork and get your signatures, or email the paperwork that will come with instructions, or send a package by courier to complete the paperwork. Any of these options will work to do the closing.
If you are not present for the closing, I will be at the closing on your behalf. In case anything comes up so I can react quickly. Like what? I had a buyer that wouldn't sign the paperwork until she had a mailbox. The property had never had a mailbox, but that didn't matter, and it was a simple fix. Another time I had the buyer discover puppy pee on the living room carpet in the final walk-through an hour before closing, so with the seller's approval, I wrote a check for carpet cleaning.
There are lots of things that may come up where you need me to react. Helping get utilities hooked up, repairs done, picking up keys, turning on heat or air, etc. If you are not here you need someone that can help get things done outside of the real estate transaction. I want to be your first new friend in Missouri, and I will help with all of those things that I can.