The home-buying process can feel overwhelming, but at Homes by TLC, we prioritize clarity and transparency to make your journey as smooth as possible. As part of becoming a client, there are four key documents you’ll receive. Here’s what you need to know about each of them:
1. Flood Insurance Disclosure
Flood zones change, and as your real estate professional, I have no control over these shifts. This document ensures you understand this and are prepared. Before choosing your dream home, I’ll connect you with a trusted insurance agent. They’ll answer all your questions about homeowners and flood insurance so you can make an informed decision.
2. Wire Fraud Warning
Wire fraud is a growing concern in real estate transactions. This document highlights the precautions we take to protect your money. As your buyer’s agent, I’ll only ever ask you to wire two payments:
- Your initial earnest money deposit.
- The funds required by your attorney a few days before closing.
To prevent fraud, your bank will confirm wiring instructions directly with the attorney. Always double-check any instructions with me before sending funds.
3. Broker Disclosure
This document outlines the different types of agency relationships in a transaction:
- Single Agency: We represent you while the home is listed by another agent or brokerage.
- Designated Agency: We represent you in a transaction where the home is listed by another agent within the same brokerage (e.g., Keller Williams Realty).
- Dual Agency: We represent both you as the buyer and the seller for one of my personal or team listings.
Signing this document simply confirms your understanding of these roles; it does not bind you to any specific arrangement.
4. Buyer Agency Agreement
This agreement formalizes our working relationship, outlining:
- My commitment to work with and for you.
- The agreed timeline and terms of our partnership.
- My buyer agent fee, which is typically 3% of the purchase price.
In most cases, I’ll negotiate with the listing agent to have my fee paid from the seller’s agreed commission. If that isn’t possible, I’ll discuss alternatives with you transparently to ensure there are no surprises.
Communication is Key
These documents are designed to protect you, clarify our roles, and establish trust. If you have any questions, don’t hesitate to reach out. Our team will be excited to guide you through this process and help you find the perfect home!
