ask Val (FAQ)
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Why should I list my property or buy property through of Higgins Lake, Houghton Lake Office?

Val says is a nation-wide company that offers support, training, and a referral network for its franchisees. Success breeds success -- of Higgins Lake was the highest producing office in Roscommon County last year, which speaks to the acceptance of the company and agents by the local community. The office is modern and efficient, and will make your sale or purchase a pleasant experience. More Buyers and Sellers typically seek out a company with such credentials.

Why should I work with Val Wysack?

Val says My success as a Realtor is due to diligence, sound planning, commitment to professional ethics, and knowledge of the local real estate market. In addition, a strong company team ethic at is there if required to help my deals go through. Please click on my "Experience" tab to view my qualifications.

Do I have to call for an appointment to see property, or can I just come up to look?

Val says First time customers often just drive up to the lake to "look" at property. However, without an appointment, you may encounter a wait to connect with the "agent on duty". Also, the property tour may not be as organized as it could with a little notice and opportunity to plan a tour of properties that meet your needs. If possible, please call me ahead of time and make an appointment.

Why should I work with only one Realtor at a time?

Val says Working with only one Realtor that you feel comfortable with is the proper thing to do. This Realtor can create a portfolio of property you toured, along with your selection criteria and personal information necessary to make an effective purchase offer. The whole process of buying property becomes more efficient and simplified. Since I can show any property for sale regardless of who holds the listing, working with me exclusively will streamline your search. Finally, Realtors are compensated on a commission-only basis, and appreciate your loyalty.

Can I get a free Comparative Market Analysis (CMA) for my home that I am considering selling?

Val says Yes, I will be happy to provide you with a free CMA. Simply call or E-mail for an appointment.

Why should I get pre-qualified for a mortgage loan when considering the purchase of property?

Val says Getting pre-qualified to purchase property expedites the purchase process when you find the property that is right for you and are ready to make a purchase offer. All else being equal, the Seller will choose a Buyer that is pre-qualified when the Seller receives multiple offers on the property, because they want the reassurance that the deal will close.

How big of a down payment should I expect to make on a purchase offer?

Val says down payments range from nothing for a qualified VA loan, to 25% or more depending on circumstances. Typically, down payments are 20% of the purchase price. I would encourage all buyers to put a minimum of 20% down to avoid PMI (Private Mortgage Insurance). Your lender will confirm your downpayment requirement.

What can I do to my purchase offer to increase my chances that it will be accepted?

Val says an acceptable offer requires a satisfied Buyer and Seller. Make your offer reasonable and respect the Seller as much as you would like to be respected if the rolls were reversed. Simple as that!

When making an offer, can I demand a reply on the same day, or within 24 hours?

Val says legally you can, but you should NOT demand such a quick response time because your offer will automatically be null and void if a response is not received in the allotted time. For example, if the Seller cannot be reached during the period, the offer becomes void. A "good faith" offer usually requests a reponse time of from 3 to 7 days.

Yikes! My offer was accepted. Did I offer too much?

Val says Don’t worry, Buyers’ remorse may be setting in and that is part of human nature. Most first time Buyers may feel that it went too easy or too fast ­ something must be wrong. Don’t let your emotions scramble your logic. Remember, you already did your homework before the offer was accepted. Relax, take a deep breath, and let logic prevail.

OK, I’m composed, what do I do now?

Val says A Buyer’s principle responsibility is to take care of getting the money necessary to close…in other words "show me da money". You will need to gather statements for income, assets and debt required by your lender. Other than that, I will take care of the rest.

How long does it take to close?

Val says Typically for mortgages 30 days -- Cash sales may close as quickly as 2 weeks.

Should I expect possession at closing?

Val says It depends on the Sellers circumstances. Most Sellers need and request some time after closing to move out.

Should I ask for a home inspection?

Val says Not a bad idea. You can hire a professional or do it yourself. A professional will look for things you may have missed. A home inspection is not meant for "nit-picking" however, or for reiterating defects already disclosed by the seller. A home inspection should provide peace of mind for the Buyer as it should find major defects that may not have been disclosed.

Do I need to retain a lawyer?

Val says Michigan Real Estate Transactions do not require a lawyer to close, but you are always offered an opportunity to retain a lawyer to look over paperwork and your title insurance commitment.

What is a home warranty, and do I need one?

Val says A home warranty covers expenses for most repairs in your home for one year after closing. A home warranty may or may not be provided by the Seller, but the Buyer can purchase one provided the house qualifies. Ask me to show you ’s Home Warranty Program for more details.

Why should I deal with a "Realtor", and not just a sales agent?

Val says Realtors are bound to a code of ethics published by their local board of Realtors, and Real Estate Agents are not.  The Board or Realtors regulates ethics and controls and monitors any complaints about Realtors.  You cannot be a "Realtor" unless you belong to a Board. They have higher standards of practice for real estate agents than the State has. So the Board will hear grievances and place punishments or fines on real estate agents who belong and we don't have to go through the bulky bureaucracy of the State to keep our profession in line. So it's like the AMA for doctors...doctors monitoring themselves, but it has worked.  If you depended on the State to do anything, nothing would be done.

Plus the Board lobbies the government to push issues into place that affect our careers. Also, Real Estate Boards offering continueing education including presentations by professionals and other speakers to keep us up to date with current affairs regarding real estate.
There are real estate agents that are not Realtors. They do not have to operate at a higher level of ethics than the State requires. Realtors are forced to operate at a much higher level than the State requires. Realtors may sit on a Board of Ethics and make decisions regarding ethics involved in the business.
People who think Realtors can operate illegally or unethically, don't realize how easy it would be to jeopardize their career doing so. Other people in other professions are not monitored so closely. So Realtors have to walk a very straight line to keep their license intact. If they don't, they can lose their license very easily.



If you would like to browse more questions and answers, click on my "Useful Links" tab, or please feel free to call or drop me an E-Mail. Thanks!




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