For Virginia Beach and Hampton Roads Home Buyers – Why You Need A Buyer Agent
You're all set to start your search for a home in Virginia Beach or Hampton Roads....you're looking online at different listings...you find a few you like...who do you call for more information? If you're not already aware of the advantages of using a licensed Buyer Agent, you might call the listing agent - the agent hired by the seller to market their property and sell it.
There's a BIG problem with doing it this way. When you talk to the agent that listed the home, you're speaking to an agent who is obligated by law to get their client the best deal and look out for their interests. Why is this an issue? They represent the seller...NOT YOU. Anything you say to them about your financial situation, your motivation for buying, your timeframe, etc...are things that the listing agent should and will use to get their client the best deal....against you!
Let me be clear on this - the seller's agent is not inherently doing anything wrong or dishonest in this situation, as long as they've made it clear to everyone involved who they're representing. The real problem lies with a lack of representation on your side, the buyer.
How do you solve this problem and get someone on your side that's obligated by law to look after your interests? Find an agent that you trust and has experience, and hire them as your Buyer Agent. In the majority of transactions, the seller pays the Buyer Agent's (YOUR agent's) commission, so you rarely have to come out of pocket with your own money. What's better than having someone on your side? Having someone on your side that you don't have to pay.
Here are some benefits to using a Buyer Agent:
- They'll be able direct you to the best websites to use during your search, and also set you up to receive listings by email that match your requirements. Typically these listings will be sent to you as soon as they come onto the market.
- A Buyer Agent will arrange in-person showings on your behalf for as many homes as you have an interest in seeing.
- Once you've found a property in which you're interested, your Buyer Agent will determine if the property is overpriced or priced correctly, and find any additional information that you need to be aware of before making an informed purchase offer.
- Your buyer agent will know what information to reveal to the seller side and when, in order to get you the best deal. In other words - they know how to negotiate.
- A Buyer Agent will be able to explain your options every step of the way, and the consequences and possible outcomes of any decisions you make.
- A Buyer Agent will be able to recommend third party individuals and business that can work for you during the buying process, including home inspectors, termite and moisture specialists, real estate attorneys, mortgage specialists and more.
As I outlined above, the real advantage to using an experienced Buyer Agent comes AFTER you've found a home to buy, and AFTER an offer has been accepted. Buying a house is not an event, it's a process, and sometimes it can be an extremely complex undertaking. This is especially the case with complex foreclosure and short sale transactions.
Don't go it alone....find an agent you're with whom your comfortable, make sure they're experienced, and hire them. You'll be glad you did.
If you're interested in buying a home in Virginia Beach or Hampton Roads, please contact us here or call us 24/7 at 757-802-3004. We provide experienced and efficient buyer representation for all of Hampton Roads. Get your free, no obligation Hampton Roads Home Buyer Consultation to find out exactly how we can help you!
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5 CONCEPTS YOU NEED TO UNDERSTAND IF YOU’RE BUYING A HOME IN HAMPTON ROADS
If you're planning to buy a house, condo, or even a foreclosure in our Hampton Roads area of Southeast Virginia, certain facts will always apply. Knowing how to handle the process will help you avoid stress, save money, and plan accordingly.
#1 - IT'S BEST TO TAKE EMOTION OUT OF THE EQUATION
Easier said than done. ....but when you remove emotions that inevitably come from an expensive purchase, you'll save yourself quite a bit of stress. Knowing how much you're comfortable paying, what repairs you'll ask for after the home inspection is complete, and not blowing things out of proportion will pay off in the long run. For instance, we often advise clients to not lose out on a house that they're really excited about just because they're not willing to pay an extra $5,000. Often we hear, sometimes non-verbally, that it's "the principle, not the money". An extra $5,000 factored into a 30 year mortgage does not mean that much more in a monthly payment, and is usually not a reason to walk away from a home that you really like. Don't let emotions rule over your transaction.
#2 - DON'T WAIT FOR A BETTER INTEREST RATE IF YOU'RE READY TO BUY
This is especially true right now as I write this - rates are the best they've been in about 50 years. Fortunately we're not hearing from many clients who are saying they'd like to wait until rates improve, but it certainly has been the case in the past. If you're ready to buy, buy. People were still buying when 30 year mortgages were at 10+%. We've had clients that wanted to wait because they knew interest rates would get better, only to see rates go up when they finally had to buy. Of course my advice might be different if rates were at 8 or 10%, but in the vast majority of situations rates will not swing up or down that much in the window of time that you'll be considering buying.
#3 - YOU NEED TO BE YOUR AGENT'S TOP PRIORITY
This means making sure your agent knows that you're serious about buying. If you're serious, you'll have your mortgage preapproval in place, you'll have given your agent your requirements with regard to number of bedrooms, bathrooms, square footage, preferred areas, etc. ....and you'll tell your agent when you're thinking about changing your criteria to include more bedrooms, different areas, etc. You'll let your agent know what times and days you're available to look at homes. You'll have the link to your agent's website that interfaces DIRECTLY WITH THE MLS, so that you can search on your own if you wish, and any questions will go directly to your agent. And you'll return your agent's calls and reply to their messages quickly. This is how your agent knows you're serious. It's also how you get the best service.
#4 - YOUR AGENT WORKS FOR YOU, NOT THE SELLER
During the process, you need someone on YOUR SIDE, to represent YOUR INTERESTS. The listing agent, by law, represents the seller. If you don't have a Buyer's Agent on your side, you're at a severe disadvantage, because the seller's agent (the listing agent) is bound by law to get the best deal for their client, so they will use any information you give them to help their client's situation. If you have an experienced Buyer Agent helping you, you'll have someone looking after you legally. You're Buyer Agent should ask you to sign an "Exclusive Right to Represent" agreement, or a "Buyer Agency Agreement". This is to your advantage, especially if your agent offers a guarantee that you'll be satisfied with their service. Our team offers a 100% satisfaction guarantee, so once you sign our Buyer Agency Agreement, if you're not happy with the service we provide, we'll terminate the agreement. It's as simple as that.
#5 - ALWAYS ASK IF YOU DON'T KNOW OR UNDERSTAND
The vast majority of problems during a real estate transaction are the result of poor communication and misunderstanding. If part of the process is not clear, ask questions until you understand. If your agent cannot answer a question, for instance involving an area outside of their expertise (electrical work, building codes, zoning, etc), they should be able to direct you to a person that can clarify the situation for you. This is a complicated business with possible legal repercussions if you're not careful. Make sure you understand what you're obligating yourself to.
Keeping the above five things in mind will save you aggravation, stress, and confusion during your home search and purchase.
Contact me here for more info about what we do and how you'll benefit by using our team as your Buyer's Agent during your Virginia Beach or Hampton Roads home search.
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Virginia Beach Condos – How to find a bargain waterfront condo
There ARE bargain waterfront condos in Virginia Beach....you just need to know where to look. We'll concentrate on two different areas in this article - Chesapeake Bay waterfront condos on the North side of Virginia Beach, and Oceanfront condos on the far East side of Virginia Beach near the boardwalk.
Virginia Beach Condos - Chesapeake Bay Area
The Chesapeake Bay area of Virginia Beach offers a less busy, lower tourist traffic are than the Virginia Beach Oceanfront, and for this reason is desirable for those who want to be near water and beaches, but don't necessarily need to be near the boardwalk.
Of the condominium complexes in this area, two stand out in terms of bargain prices and proximity to the water: Chesapeake House and Cape Henry Towers. Both are waterfront buildings with walk-out beach and water access.
Cape Henry Towers - Virginia Beach Condos
As of this date you can buy a first floor condo in this building for $110,000. Of course, you get what you pay for, as it's a small efficiency/studio type condo, but it's still waterfront. The same unit on the 14th floor is going for $245,000. Mandatory monthly condo fees start at around $300 a month for quite a few amenities, including master insurance, common area maintenance, etc. This building has pet restrictions and may not allow pets at all. Contact us here for more info, and we'll send you a list of everything that's available in Cape Henry Towers, and answer any question you may have.
Chesapeake House - Virginia Beach Condos
This condominium community is also waterfront, and has the added benefit of allowing pets - rare for a high-rise building. Not only is this a definite plus for a buyer with a dog or cat, but it's excellent for resale value, as it opens up the property to more prospective buyers. As of this date, the most affordable condo in Chesapeake House is $159,000 - a very small sixth floor efficiency/studio unit, but still waterfront - an ideal place for the buyer that doesn't need much space. Condo fee for this unit is also extremely affordable at approximately $163 a month. A larger unit is available on the 7th floor for $249,000, but still an efficiency/studio condo with a view of the Chesapeake Bay. Contact us for more info, and for a personal showing.
Virginia Beach Condos - Oceanfront / Boardwalk area
The Virginia Beach Oceanfront and Boardwalk area is a very popular destination, and properties in this area command a premium. For clients who express an interest in the Virginia Beach Oceanfront, we usually recommend that they look at properties that are not necessarily beachfront, as they will save a significant amount of money. Right now there are small efficiency units available within a very short walking distance to the ocean for as low as $123,500. These are typically 600 square feet in size and under. Larger units will usually start around $185,000 depending on the location. A few condominium complexes are highlighted below.
Pacific South - Virginia Beach Condos
Pacific South is a high-rise building at the Southern tip of the boardwalk / oceanfront area, and typically offers a great value even though it's fairly close to the ocean - about 2 blocks walking distance. Some of the higher floors in Pacific South do have an ocean view. South facing units have a view of Rudee Inlet, and North facing units have a really nice lake view (and a partial ocean view if you're up high enough). It's not uncommon for units to sell in the $250,000 to $300,000 range for a two bedroom, two bathroom configuration. Right now, the only property available is a nice sixth floor 3 bedroom 2 bathroom condo for $300,000. Monthly condo fee for this unit is $399. Pacific South is pet friendly too, with restrictions. Go here to search all Virginia Beach Condos in detail, or send us a message here to get notified by email as soon as new Virginia Beach Condos are available for sale in Pacific South.
Harbour Point - Virginia Beach Condos
For those looking to be in the Oceanfront area, but not necessarily on the beach itself, Harbour Point offers a great alternative, and a beautiful setting on the southern tip of the Oceanfront area, near Rudee Inlet. This is a gated community with views of the inlet along with boat docks for some units. Properties available for sale right now in Harbour Point range from $195,875 for a small efficiency unit with a $340 per month condo fee, all the way up to a $359,000 two bedroom, two bathroom condo with a water view and boat slip - still a great value. No pets are allowed at Harbour Point. Get notified when new Virginia Beach Oceanfront Condos come up for sale by clicking here, and send us any question about Virginia Beach Condos and Harbour Point here.
The above properties are only a few of the many Virginia Beach condos offering a waterfront or near-waterfront location at an affordable price. For a complete list, visit our premier Virginia Beach listings and property search website for complete details, and search anytime on your own - BUYVB.COM.
As always, we're available at 757-802-3004 to answer any questions, or visit any of our websites to search all Virginia Beach Condos, including Virginia Beach Condo Foreclosures at any time - It's Free!
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Buying Virginia Beach Foreclosures – A Step-By-Step Video Guide
Getting ready to buy a home in the Virginia Beach, Chesapeake, Norfolk, or any other area of Hampton Roads Virginia? No doubt you've heard all of the commotion about foreclosures, short sales, and distress property. While it's true that there are quite a few properties here that banks are trying to unload, sometimes the properties that you can actually buy are difficult to find.
We put together the step-by-step video below to show you how easy it is to search Virginia Beach Foreclosures (and all other Hampton Roads areas too - Chesapeake, Norfolk, etc...) and best of all, it's FREE - no cost, no obligation. There's never a cost to search as long as you know how to do it. Other companies will charge you for access to foreclosure listings - some of which you can't even buy. As long as you stick to our websites, you can be confident that you have free complete access.
View the short video below, then search all Virginia Beach Foreclosures here - It's FREE!
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How To Search For A Home
FREE ACCESS TO THE MOST COMPLETE, UP-TO-DATE INVENTORY OF HOMES FOR SALE IN VIRGINIA BEACH AND HAMPTON ROADS.
- Over 3,200 Virginia Beach Homes for sale!
- 1600+ Norfolk Listings!
- Nearly 2,000 Chesapeake Homes!
- 350+ Hampton Roads Foreclosures that MUST SELL
- Most properties with PICTURES!
All listings from EVERY HAMPTON ROADS / VIRGINIA BEACH REAL ESTATE COMPANY are online. Search for your dream home at your convenience and even sign up for daily updates - as soon as a home that matches your requirements, we'll email it to you, and there's never an obligation.
FREE INSTANT ACCESS - LOG IN BELOW
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Free Buyer Consultation
Curious about the home buying process?
Let us answer all of your questions and show you how the process works:
- Learn the steps to take when buying a home from an experienced professional
- Steps to obtaining a home loan
- Learn about the many different financing options - what's best for you
- Receive a free copy of your credit report AND score
- Receive a Pre-Approval from our mortgage team at a great interest rate
- Receive email updates of new homes for sale that meet your criteria
- Search for homes online - we give you FREE, COMPLETE MLS ACCESS
- Set up showings at anytime with one of our agents
- Tour homes in the area and price range you're interested in
- Work together with a skilled negotiator to submit an offer
- Save money from our referral network of home services (Home-owners insurance, Settlement and Title, home inspections, financial planning, termite control and more)
- Have an efficient team of Real Estate pros representing your best interest every step of the way
Your free consultation lasts only about 30 minutes and is the best way to get your questions answered in a no pressure, hassle-free environment where there's never an obligation.
Fill out the form below to begin!
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Five MYTHS of Home Buying
The Five Myths that Create Barriers to Homeownership
- Myth #1
"I don't have enough money for a down payment.
In the past, buying a home required a 20% down payment. But not today. In fact, 7 out of 10 first-time homebuyers make a down payment of 10% or less. We have loan programs that can help you buy a home without a lot of cash, or any at all.
- Myth #2
"I have less-than-perfect credit, so I can't get a mortgage."
A less-than-perfect credit history doesn't have to stand in your way of reaching your homeownership goals. We have helped thousands of individuals move beyond credit challenges into homes of their own.
- Myth #3
"It's less expensive to rent, and now may not be the right time to buy."
In fact, you may be surprised how much home you can buy for the same rent check you're sending innow, especially when you consider the tax advantages of homeownership*. And unlike rental costs, your monthly principal and interest payments will stay the same for the life of a fixed-rate mortgage. Because home prices historically increase (and only occasionally decline), buying as soon as you're able is can be a more effective strategy than trying to time the real estate market. Moreover, as a homeowner, you'll be building wealth as your home equity grows.
- Myth #4
"The whole mortgage process is too long and complicated."
We want to make buying your first home as easy as possible. We will help you through each step of the financing process.
- Myth #5
"I won't be able to fit a mortgage in my budget."
Our goal is to help you succeed financially, so we'll carefully review your loan options with you and help you choose the loan that's right for you. With a loan that fits your budget and your financial goals, your home will be a powerful tool in building a secure future for you and your family.
Get more quick information here!
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Military Buyer Specialist
Contact Our Military Specialist Directly
We understand the special requirements of those relocating to the Hampton Roads area, as well as those needing to sell who are transferring elsewhere. Our Military Specialist, Mr. Brian Duncan, is an 8 year veteran and current reservist who will help guide you in the right direction.
Experience is key, and our expert knowledge of the Hampton Roads marketplace will allow you to realize your purchase or sale in the most efficient manner possible.
When making a large move, it's critical to have our team on your side. We urge you to contact Brian directly at 757-274-2733.
Alternatively, we will contact you directly after filling out the form below.
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Brian Duncan Group
Keller Williams Realty1100 Volvo Parkway, Suite 200
Chesapeake, VA 23320
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Office: 757-802-3004
Info@BrianDuncanGroup.com
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Recent Posts
- For Virginia Beach and Hampton Roads Home Buyers – Why You Need A Buyer Agent
- 5 CONCEPTS YOU NEED TO UNDERSTAND IF YOU’RE BUYING A HOME IN HAMPTON ROADS
- What It Takes To Sell Your Home Quickly…it may surprise you!
- How To NOT Sell Your Home…or How To Help Sell Your Neighbor’s Place
- Virginia Beach Condos – How to find a bargain waterfront condo
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