Technology has certainly done much to enhance the way we do business. One of my favorites is the client portal, which allows me to set up a search for my clients specific to their needs and wants, and then deliver to their e-mail all the records that match.
I do caution my clients not too enter too many parameters as this might cause them to get very few records. They might also be missing out on a great house because one of their parameters is .5 acres and this house that has everything they want has .49! A computer search is unbending...it will return only what you ask of it.
Before I take a client out I like to check the disclosure statements to see if there is anything unusual on them. I'll try to to use google maps to see if there is anything of concern, such as a retention basin in the backyard. I am making an assumption though that my clients are reviewing the printout carefully but that's where I am wrong. Most buyers are excited about the buying process so they are looking intently at the pictures and envisioning living in this home. So even though I think I am prepared I sometimes will hear:
"Oh, I didn't know the house was on a corner'"
"I didn't know it was built in 1950!!!"
"The garage is detached???? I don't want that!"
"No central air conditioning?" Nope.
So, below is a picture of an mls printout, the way a buyer might see it in their portal. I strongly recommend that buyers carefully look over the information so there are fewer surprises when they actually get to the home! See my comments below:)
1. You can click on this number and see all the pictures that are available for this home
2. DOM/CDOM means days on the market and cumulative days on the market.
3. Monthly maintenance fee...you could see this for a single family cluster home or a condo
4. VERY IMPORTANT: homestead exemption meaning that the current owner is receiving a reduction on the real estate taxes and the once the new buyer owns it, he/she/they will be paying the higher amount, unless they too qualify for the homestead exemption.
5. Maintenance items that are included in the monthly fee, but always a good idea to make your contract contingent upon review of the HOA/condo documents.
6. VERY IMPORTANT: This tells you whether there is an assessment in place for things like new roofs, siding, or street repair. If this is checked yes, be sure to get all the details.
7. Sometimes people overlook the school district
8. An HOA fee, which generally but not always means that you are paying for some recreational items, such as a pool(s), walking trails, tennis courts, or maintenance of common areas.
9. Lot description. In addition to corner, you may see words like wooded, or sloping and it's important to note this as you may want a level lot.
10. VERY IMPORTANT: This notes the water and sewer supply, critical if you prefer septic over public sewer or vice versa. Or maybe you prefer well water.
11. The level the room is on. A lot of buyers skip over this one and then find out there is a first floor master which they don't want because they have small children.
So there you have it. A brief summary of what some of this stuff means. Happy home shopping buying!
As always, if there is something in your contract you do not understand, consult an attorney.