Buying a home can be a complicated process and it can really be difficult to decide where you start. Have no fear! HomeTraq is here to help whenever possible!
Buying a new home can be a really exciting time, but it can also be a bit stressful and overwhelming. Closing costs are often a point of concern for first-time homebuyers. How much will they be? Will you have enough money to cover the costs? What do closing costs even cover?
Considering the changes to business caused by the Coronavirus, the multiple listing service (MLS) has decided to implement new status definitions ahead of schedule, effective 4/1/2020.
Ironically known as the "Clear Cooperative Policy," this is now implemented to comply with National Association of REALTORS standards. Home sellers now have the choices of marketing their home under Active, Coming Soon, Withheld, Hold, Withdrawn, or Cancelled statuses. These listings must be available in the local multiple listing service (MLS) within five (5) business days of the seller signing a listing contract with a real estate broker.
Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts), multi-brokerage listing sharing networks, and applications available to the general public.
With recent events HomeTraq very quickly put into place Live Video Tours so that people can now have the option do have a video call with an agent to tour the home. But which one suits you?
"Procuring cause" is a real estate term which agents, brokers and sometimes buyers use to determine who will receive the commission on a house sale. It is widely identified by the specific tasks performed by a real estate agent which lead to an accepted purchase contract and successful sale of real estate.
In many cases, the "procuring cause" task could be identified as the first showing of a house by a real estate agent which a buyer purchases. "Procuring cause" could also be construed to mean the task of writing and negotiating the purchase offer. Since there is no hard and fast rule as to what specifically triggers "procuring cause", its easy to see how this situation can get tricky.