Phoenix HUD Foreclosures and Phoenix Home Buying
Expert!
As a Realtor here in the metro Phoenix area, I
have distinguished myself from other real estate agents because I work
as a buyer’s agent. A buyer's agent is one that works solely on
behalf of the buyer and not the seller (like the listing agents whose
name appears on the for sale sign in the front yard of a home for
sale). In order to truly call myself a buyer's agent, I have taken additional training
and coursework that has given me the ability to focus on the needs and
wishes of Phoenix home buyers. Furthermore, I have distinguished
myself with the necessary experience requirements to back up the
education. I have earned the ABR (Accredited Buyer Representative)
designation after my name.
As a real estate buyer's representative in
Phoenix, AZ, I represent the metro Phoenix home buyer who is
purchasing property in a real estate transaction. Research by the
National Association of REALTORS has shown that when a buyer's
representative is used, the prospective buyer found a home one week
faster and examined three more properties than consumers who did not
use a buyer's representative.
As a real estate buyer's representative in the
Phoenix area, I work for, and owe fiduciary responsibilities to, the
real estate buyer and have home buyer's best interests in mind
throughout the entire real estate process. It is my job to:
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Evaluate the specific needs and wants of the
buyer and locate properties that fit those specifications.
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Assist the buyer in determining the amount that
they can afford (pre-qualify), and show properties in that price
range and locale.
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Assist in viewing properties -- accompany the
buyer on the showings, or preview the properties on behalf of the
buyer to insure that the identified specifications are met.
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Research the selected properties to identify
any problems or issues to help the buyer make an informed decision
prior to making an offer to purchase the property.
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Advise the buyer on structuring an appropriate
offer to purchase the selected property.
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Present the offer to the seller's agent and the
seller on the buyer's behalf.
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Negotiate on behalf of the buyer to help obtain
the identified property -- keeping the buyer's best interests in
mind.
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Assist in securing appropriate financing for
the selected property.
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Provide a list of potential qualified vendors
(e.g. title companies, inspectors, carpenters, etc.) if these
services are needed.
The following are a few of the transactions that
I have put together for clients as a buyer's agent:
Example #1: HUD Home in historic district. One of my clients was looking
for a home that he could purchase as a "live-in" investment. His
intention was to buy it, fix it up, and in a couple of years sell it for
a sizeable profit. He purchased the single family home with multi-family
zoning. Knowing that it needed a lot of work, he applied for a grant
through the Phoenix Historic Preservation Office and was awarded $10,000
to assist with the exterior rehabilitation of the home. Fixed up,
according to his lender's appraiser, the home was worth at least twice
of what he paid.
Example #2: First time home buyer needing help with the down payment. A
young school teacher solicited my help to find a home near the high
school where he taught a foreign language. Knowing that he only had
approximately $1,000 to apply towards the home buying process, I found
him a 1350 sqft home with a 1 car garage, had the seller pick up 3% of
the sales price towards his down payment, pay all of his closing costs,
buy him a 1 year home warranty, treat the home for termites, and the
home is located in a great neighborhood that is 1 mile from his high
school. After we closed on the transaction, he actually receive money
back from the title company.
Example #3: First time home buyer looking for a historic home in
Downtown Phoenix. Earlier in the year I worked with a computer program
for a local software company that was looking for a home downtown. The
home was not aesthetically the nicest home on the block (need
landscaping, a driveway, and a little character on the inside and out).
She bought the home for about 5% below market, had the seller pick up
$4,000 towards her closing costs and I helped her find a lender that
offered her 100% financing. Because of the inspections I encouraged her
to have completed, we found out that the sewer line was partially
collapsed (an item the seller did not inform us about). I went back to
the negotiating table for her and secured an additional $4,000 to have
the sewer line fixed. Finally because she bought a qualifying home in a
historic district, I helped her complete the necessary paperwork with
the State to have her property taxes reduced in half for as long as she
lives there.
Example #4: Relocation client looking for a VA foreclosure home. I
worked with a wonderful young couple from out-of-state that was looking
for a newer home in the west valley. I found them a 1500+ sqft home
built in 2001, corner lot, and a 2 car garage. I negotiated 7% off of
the sales price and was able to get the government to pick up an
additional 3% towards their closing costs. They saved over $9,000 just
in the price of the home.
Example #5: Investor looking for good rental property. A previous client
approached me with the desire to buy a rental property. In this
particular case, we found a great townhome in the north valley. In the
six months that he has owned the property, it has easily cash-flowed due
to the area rents and the property is worth at least $20,000 more than
the price he paid for it.
These examples are just a sampling of the many deals that I have been
able to negotiate on behalf of my clients. I work hard for them, strive
to exceed their expectations, and help them every step of the way.
Most importantly and I cannot emphasize this point enough, I fully
represent the buyer throughout the real estate transaction. As I stated
in other sections of this website, I pride myself in being a "single
agency" Realtor. This means that when you hire me to help you buy or
sell a home, I will always put your interest first and NEVER will I
betray your confidence by trying to work both sides of the transaction.
This is why I will not represent both parties in a transaction, commonly
referred to as limited dual agency, where agents are telling the sellers
they represent that they will get them the highest price possible and
turn around to their buyer client and tell them that they will get them
the lowest price possible. Believe it or not, this happens far too
frequently, especially when one agent from a real estate company has the
listing and another agent from the same company is working with the
buyer--and even then, the buyer's agent has an obligation to represent
the interests of the seller.
If you would like a full-time Realtor that has the experience, training
and know-how to work for you and guide you through the home buying
process, call me at 480-888-1234.
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Ready to begin the home buying
process, contact the office at
602-993-7509
or call Rob Madden, Accredited Buyer Representative (ABR) directly at
480-888-1234.
Rob Madden is a multi-million dollar
producing Realtor® with Sun National Real
Estate that has advised, consulted and negotiated on the behalf of home
buyers and sellers across the Phoenix metropolitan region. For
more information on purchasing your first home, relocating to the Phoenix
area, buying investment real estate, or aggressively selling a home
in Phoenix, call Rob directly at 480-888-1234.
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For more information, contact us at: Office: 602-993-7509 Direct
480-888-1234