Buying

What is the role of the MLS?

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The default multiple listing service (MLS) for the mid-atlantic states is called Metropolitan Regional Information System (MRIS).  This allows REALTORS from different firms to show and sell one another’s property listings in which instance, the commission paid by the seller (or builder) is then shared between the two participating real estate firms.  Buyers get the service of REALTORS at no cost to them.

no-zillowNOTE: Third party websites like Zillow and Trulia download data from MLS systems around the country and are one week behind in their updates.  Therefore, the house you find on those websites may already be under contract.

Want 100% active matching listings automatically emailed to you by the MLS?  We invite you to fill out this form and text an image of it to 301-662-9000.  We’ll make sure that you receive daily automatic emails from the Multiple Listing Service (MLS; powered regionally by MRIS) in real time, so that you are the first to know when your dream house gets listed.  Or, simply click on the image below and start searching for that dream house…

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As your allies in the house buying process, we can help you avoid costly house buyer mistakes

  1. Becoming “house poor” by having bought a house one can’t really afford
  2. Having chosen a risky adjustable rate mortgage loan or an interest only loan
  3. Put more cash than necessary into a down-payment with little left in reserve
  4. Higher price paid than comparable houses
  5. Bad location, lot or setting
  6. Poor construction
  7. Poor builder reputation
  8. Overlooked potential problems and their repair costs
  9. Did not check crime statistics
  10. Did not check school scores
  11. Did not check the walkability score
  12. Paying higher than normal property taxes
  13. Paying a high HOA or Condo fee with limited or no amenities (ie. pools)
  14. House faces the wrong direction (very important factor to the increasingly diverse house buyer population in America)
  15. House violates key principles of Feng Shui (Orient) and Vastu (India)
  16. Failure to calculate the additional “hard cash” outlay required for features needing to be added after buying the house (ie. finish the basement, add a deck, patio, alarm system, garage door openers, washer & dryer, drapes & blinds, landscaping trees, shrubs, flowers, underground yard sprinkler system, custom wall colors, shelving, shed, fence etc)

Our services to you are free as our commissions are paid by the sellers/builders of houses listed in the MLS

 

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General steps to buying your first house:

  1. Fill out this form and text an image of it to 301-662-9000.  We’ll make sure that you receive daily automatic emails from the Multiple Listing Service (MLS; powered regionally by MRIS) so that you are the first to know when your dream house gets listed
  2. Schedule a face to face consultation with one of our REALTORS.  Text 301-662-9000
  3. Establish an exclusive representation agreement (our commissions are paid by sellers or builders)
  4. Complete a full loan application and get a pre-approved mortgage loan letter
  5. Search for houses that match your criteria using the Multiple Listing Service (MLS), whereby which brokers share listings with one another
  6. Visit the houses that you wish to see
  7. Make an offer on your dream house
  8. Satisfy short term contingencies (ie. inspections on the house) and complete your due diligence as per the list of items on top of this page
  9. Pick a closing company and forward them a copy of your contract
  10. Do a pre-closing walkthrough inspection of the house
  11. Attend closing, pickup keys and move in

Handy forms for our buyer clients:

Dual-Agency-2017Unlike a boutique firm like ours, large firms with hundreds of agents face a legal problem called “DUAL AGENCY” where you (the buyer) are asked to sign a document waiving your rights for “exclusive representation” by these larger firms.   Why?  Because they have more listings than a small firm like ours and therefore they cannot legally be representing the seller and the buyer (you) at the same time.

Don’t sacrifice your rights for exclusive buyer representation by working with a large firm when we can represent you EXCLUSIVELY !!!  Our commission is paid by the seller of any house for sale listed in the MLS even though we negotiate in YOUR EXCLUSIVE BEST INTEREST as your “Buyer Agent”.

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