Buyers under our representation had some idea of their responsibilities, but most buyers believe they are free to roam. You can always care for them better if you build a little corral. Have you have buyers sign this and have better control.
The Team Approach to Intelligent Real Estate Acquisition
For _________________________________________________ (Purchaser’s Name)
Because any real estate transaction is based upon the mutual cooperation of the real estate agent and the client, we at Sanford Systems believe that to achieve your goal of finding your target property at the lowest purchase price available in the shortest amount of time. Our buyer should be held responsible for the items listed below.
We believe this list will enable you not only to understand the process of buying property, but also to feel confident that everything is being done to get you in escrow.
1. The buyer agrees to a personal interview with a Sanford Systems Team Member, ____________, our lender who has been chosen not only for competitive rates, terms, conditions, and committed closing dates, but also because he/she understands and practices a proven process that increases the buyer’s chances of success.
2. The buyer and all their decision-makers agree to a personal interview with Walter Sanford to determine the client’s needs, areas, and terms that will result in the client’s greatest satisfaction.
3. Sanford Systems will provide, sometimes on a daily basis, lists of available properties, which will be posted on a secure site, Emailed, or delivered to the client for his “drive by” approval. The client is asked to drive by these properties in a timely manner because of the desirability of these properties in the market. These properties are obtained from the Sanford Systems’ exclusive client relationships formed over the past 30 years. Secret properties at wholesale prices will also be a major component of our client’s success. Because of extensive networking in the areas surrounding (city) and the country, Sanford Systems may know about potential sellers before anyone else. Sanford Systems is not only at the forefront of all pre-foreclosures, but we also receive the lion’s share of these leads first. Therefore, we can provide our buyers with the very best properties at the very lowest prices.
4. When the buyer has narrowed the field by viewing the list of properties delivered to him, the buyer should tour the properties with Walter Sanford or his buyer’s assistant. On these tours, the client is shown the negatives and positives of each property and is counseled about which property will fit his needs best. A client’s needs, potential terms, location, lifestyle, and quality of construction are all taken into consideration.
5. The buyer is responsible for keeping Walter Sanford and Sanford Systems informed of any changes in sources of income or down payment. Therefore, any impending layoffs, terminations, or changes in down payment sources need to be reported to Sanford Systems immediately. Buyers are surprised at the available resources for nearly any challenge, as long as the options are discovered early. In this market, changes in your credit report can cause challenges; there should be no new credit lines opened until after the new purchase is closed.
6. If there are any other decision-makers besides the actual purchasers, such as friends, relatives, or advisors, these people should be present during the negotiation and inspection processes. Anyone involved should put forth their concerns as soon as they are known so resolutions can be negotiated early from the sellers.
7. Any derogatory credit items should be disclosed immediately. Derogatory credit items alone may not prevent the purchase of a property. Early disclosure will allow Walter Sanford to use the experience of his lender team member to diffuse many credit challenges.
8. The buyer will be provided with the best negotiating team in the nation. For thirty years, we have prided ourselves on our ability to obtain the very best prices and terms for our clients. This negotiation process involves not only the cooperative agent but also the sellers themselves. We will personally present all offers to sellers so that we can obtain feedback first hand. There are three eventual outcomes for any offer: an acceptance, a rejection, or a counter-offer. Because of our experience and number of transactions, Sanford Systems is uniquely qualified to handle all three outcomes. Since we meet personally with the seller, we will be able to determine the best game plan to achieve our client’s goals. We consistently beat the local board’s list-to-sale ratio!
9. Our client, the buyer, must always be present during the negotiation process. Very often, we are presenting offers among other competition, meaning other purchasers wanting the same property. Therefore, the client must be accessible to facilitate the decision-making process. Many times, we have the buyer waiting in a car in front of the seller’s home where we are presenting the offer
10. When our client is in the offer process (meaning they have seen numerous properties and have been through at least one pre-negotiation process which would include discussing an offer and determining all buyer’s costs), the client may be expected to make decisions rapidly.
11. Sanford Systems will prepare a buyer’s closing cost estimate on every offer. Therefore, the client/buyer will always be aware of total non-recurring closing costs, recurring closing costs, and their principal, interest, taxes, and insurance payments both before taxes and after taxes. Only with this detailed analysis can our clients make the proper buying decisions. The client will be expected to sign his copy and keep a copy on file.
12. On all offers that are accepted, the buyer will be required to spend between $100 and $400 for a complete property inspection. Only after an inspection is done by a professional home/property inspector can we properly determine the quality of the property. There are many areas of a home or building that are hidden from our view; therefore, in our quest to build a client for life, we must determine if the property has the necessary ingredients for the property’s eventual resale.
- Price and terms
- Resale value
- Quality of construction
- Values compared to competing properties
- The client’s total satisfaction quotient
- Pride of ownership
- Ability to meet lifestyle needs
13. The buyer agrees to work with Walter Sanford’s assistant on all non-emergency requests, so that Walter may spend a maximum amount of time in the field locating sellers’ secret properties meeting his buyer’s goals.
14. The buyer will obtain flyers from all open houses and flyer boxes located on properties of interest to discuss the merits of a purchase with Walter Sanford.
15. Should any properties be found on the Internet, information should be brought to the attention of any Sanford team member for evaluation and showing.
16. Should the buyer not find a home or investment that meets his needs after being personally toured through 15 target properties, then the buyer agrees to meet with Walter Sanford to adjust/rethink buyer’s parameters.
17. The purchaser agrees to speak with Walter or his assistant the moment a concern arises. The buyer will not let disappointments, if any, build to the point of distress.
18. The purchaser agrees to look for new property that becomes listed in any target markets. Sometimes, the purchaser is in the best position to see any new listings, because sometimes signs go up before properties are advertised or list for sale.
19. The buyer agrees that an assistant, agent, or buyer-initiated contact every seven days is enough to keep the buyer informed. However, in markets where decisions must be made quickly, sometimes minutes make the difference between an accepted contract and a lost contract.
20. The buyer agrees to contact Walter Sanford if a change in motivation occurs.
21. The buyer agrees to prepare lists of dislikes on any property that is not purchased so that Walter Sanford can eliminate properties based on these negatives on future showings.
22. The buyer agrees to keep Walter Sanford informed of his itinerary when traveling.
23. The purchaser agrees not to talk with the cooperative agent or seller. Remember that anything you say can be used against you in the negotiations.
24. The buyer agrees to return Walter Sanford’s phone calls and e-mails immediately. Walter calls on Mondays between 2-3PM to discuss strategies. Client will try to be available at that time.
25. The buyer understands that taking occupancy before the close of escrow is a procedure that Sanford Systems does NOT endorse because of its liability potential.
26. The buyer agrees to leave specific power of attorney with a trusted representative upon leaving town.
27. The buyer agrees and understands that closing dates are fluid. The move-in date must always be flexible.
28. The buyer agrees to provide all phone numbers and Email addresses so Walter Sanford can easily have access to the purchaser.
29. The buyer/purchaser agrees to return all requested items to the lender within 24 hours of notification.
30. The buyer understands that lenders may ask for detailed financial information over many weeks. It would seem appropriate to ask for all financial information at one time; however, this is not the standard practice of most lenders. The buyer may have to provide information in bits and pieces and needs to cooperate with all lender requests. Remember, those who have the gold make the rules!
It is our desire to form a team to accomplish your ultimate goal: the purchase of the perfect real estate investment or home. “Perfect” is defined as the buyer closing with a smile on his or her face, purchasing a property that represents all of his or her dreams — all within the agreed-upon time frames and financial promises. It is our goal at the Sanford Systems to develop clients for life. We look forward to working with you.
Agreed and Accepted: (have two lines for two buyers with the dates they sign)
Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email email@example.com, or chat with us online at www.waltersanford.com.