Home Buyers Guide

John Iwamura knows that buying a home is one of the most important decisions you’ll ever make.

John Iwamura a Real Estate Broker with Coldwell Banker Gesik in Lincoln City Oregon, has a proven, long-term track record of successful real estate sales in the Central Oregon Coast Real Estate Market. When choosing a Real Estate Agent to help you find beach property on the Central Oregon Coast whether you are looking at Pacific City or Yachats or any town in between such as Lincoln City or Newport John is a top expert and has created this valuable and educational Home Buyers Guide for you. 

Buying Oregon Coast beach property may be one of the bigger investments you will ever make.  You likely have many questions as well as concerns about home ownership on the Oregon Coast. For instance, How do I find a qualified Real Estate Broker? What specific things should I know to look for when previewing homes?  How do home inspections and appraisals work? These are all normal questions and concerns when making an investment in your future beach property. to have a lot of questions and concerns when making such a large investment in your future. To help you John has created this Central Oregon Coast Home Buyer’s Guide which will likely address some of your questions and concerns.you with some of the most commonly asked questions and concerns.

How do I find a qualified Oregon Real Estate Broker that I feel will represent me as a Buyer?.

First of all, the Real Estate Broker should have excellent communication skills and respond quickly to your  who responds to your wishes and specifics regarding your needs.

Secondly, your Real Estate Broker should be able to create an immediate rapport with others. Keep in mind this will be the agent that will represent your interests to Sellers, other Brokers, lenders, etc. It’s critical that they are trustworthy and attentive while maintaining a professional demeanor. You have to trust your instincts somewhat when interviewing Brokers to assess their personal characteristics.  However, community standing, track records, longevity and testimonials can also guide your choice.

Next a great Broker has mastered the “soft sell” technique, helping clients make decisions without pressuring them. We all need kindly guidance when making hefty decisions. The Broker you choose should be able to discuss agency relationships with you like an old friend. You should always feel at ease in their presence, never forced or hurried along.

In addition, your Real Estate Agent should have years of experience successfully helping people buy and sell homes in the areas you have chosen. And if not, you will want to make sure the Agent works under the close supervision of an experienced broker who will assist you if necessary.

Along with showing you the homes that suit your needs it is just as  important that the areas you are looking at support the lifestyle you want to enjoy on the Oregon Coast. A seasoned Agent will be knowledgeable about the school district, the available health care and whether community services will fit your needs.

The right Agent should have lots of energy, endurance and a great attitude. You want to know your Agent is working hard on your behalf.

Finally, a top Agent gets the job done. Ask for names of Buyers who’ve used the Agent recently and talk to them. Inquire about the Agent’s knowledge, service and communication skills. How quickly were phone calls returned? Did the closing go smoothly? Would they work with the Agent again?

Take the time to ask yourself exactly what you want from your real estate Agent.  Communicating clearly and directly with your Agent should be your first priority.

How should I decipher home descriptions in ads or on the internet?
Always assume that the selling broker is putting his or her best foot forward to get a property shown and sold.. Your job is to see beyond the window dressing and discover the true heart of the beach property.  
Keep in mind, if there’s a positive feature present, you can be sure they’ll emphasize it. Here are some significant phrases to look for and what they might mean:

When I preview homes, what should I be looking for?

Try to view the home in practical terms.  Avoid getting caught up in the house emotionally and definitely do not permit your broker to get caught up in any drama.  If the home interests you then explore it thoroughly and ask about the homes basic structure.
Ignore the current furnishings or staging
Considerations:

Is the location right?
Are there adequate bedrooms and bathrooms? Is there parking? If you are thinking of doing vacation rentals this is a critical point.
How much landscaping is there to tend to.  If this is to ba a vacation home a manacured acre of gardens may not work well.

If you find that you are having trouble deciding between which homes to buy, you might want to apply a simple rating system such as assigning points according to the items most important to you. This could help you objectively differentiate among your choices.

Why do I need a Home Inspection and Appraisal?
Getting a good inspector to inspect the house before buying is essential. Sellers may cover up major problem areas in the house or not be aware of them. So it is in your best interest to get a good inspection, but the lender will most likely require one as well. The lender will not want to take risk on a house if they are not confident that you are getting the house at a good price without any unforeseen problems (certain loans will only require a drive-by inspection.) Before hiring, be sure to ask the inspector about their liability insurance coverage including “errors and omissions” (E & O) or malpractice insurance that covers inspector negligence.

Here is a quick list of things you should know about what to expect from a home inspection:

A good inspector will check the house from the basement to roof, including plumbing, heating, cooling and electrical systems, roof, floors, walls, ceilings, insulation, ventilation, doors, windows, wells, septic or sewer, foundation and the visible structure of the house. The inspector would suggest any repairs needed. A reputable inspector will never offer to perform needed repairs and should not refer you to a contractor to perform such repairs.

When considering a particular inspector, ask for at least three references and check them out. You can also find a good inspector by getting a referral from a satisfied customer. Avoid referrals from anyone who has a financial interest in the sale going through. Inspection costs vary with the area. It may start from $100 and go up to $500 or even more at times. Ask for a written report from the inspector.

You should also do your homework before the inspector comes. Use the checklist below to identify any problem areas in case your inspector overlooks them.

Checklist of things to look for when doing a self inspection of the house:

• Are there large cracks or shifts in the foundation?
• Are there leaks or watermarks around eaves and downspouts outside the house or windows and ceilings inside the house?
  Does the basement look or smell damp?
• Is the house tightly sealed?
• Are there drafts from any windows, doors, attic areas or crawl spaces?
• Does the drainage lead away from the house and appear to be in good condition?
• Do soggy spots on the lawn exist?
• Are any trees too close to the house or look to be unhealthy or dead?
• What is the condition of the roof?
• How is the water pressure? Are there unusual noises when the plumbing is activated?

An Appraisal (or Valuation) is an inspection of the house to determine its value, so that the lender can asses how much it may lend. It is not a survey and is usually paid by the Buyer who receives the copy of the report. Valuation is limited compared to a survey; it also identifies areas that require more detailed inspection by a specialist. Legally, you are required to carry out an appraisal of the house, before you apply for a mortgage. Even banks insist on valuation of property.

Should I test for toxic substances?

Once rare, toxic substance inspections are now a routine part of most real estate contracts, as people have become more aware of the potential dangers such substances pose. Unfortunately, most home inspectors lack the qualifications to do the specialized tests necessary to find toxic substances. You must therefore use toxic substance inspectors.
Real Estate attorneys advise that the language you should state is that the “sale is contingent upon satisfactory results of the test.” You do not want the language to suggest that you have the right to the tests but not the right to back out of the deal if the house fails any of the tests.

Here are some of the most dangerous toxic substances:

Asbestos – it’s a microscopic airborne fiber that causes lung cancer. If you’re buying anything built since the mid 1970’s, you probably don’t have to worry about it. If you’re buying an older home, however, a specialist can tell you if it presents any danger. For more information, contact your local OSHA (Occupational Safely and Health Administration) office, or your local Consumer Products Safety Commission office.

Lead – usually found in paint or water pipes in older homes. It causes mental and physical development problems. Testing usually costs between $100 and $300. If the water is contaminated from its source, you may need a filtering system, or simply buy a home in another area.

Electromagnetic Radiation – though still controversial, some studies seem to indicate that exposure to radiation from high-voltage power lines may cause cancer and other disease. Power companies deny it, but you may not want to risk it. A test for this problem costs between $100 and $250, depending on the house.

What are the most important things that I need to know when buying a home?

Buying a residence can be a roller coaster of emotions. Finding the right place, securing a loan and finally moving in can move us along the emotional gamut from frustrating to incredibly exciting. For most of us, the home purchase is the biggest investment we’ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgments. Avoid the ten most common mistakes home Buyers make.

Inspect, Inspect, Inspect! Make sure the report was done by a professional organization and go over it with a fine toothed comb. For condo purchases go over the CC&R’s, By-Laws and Association Fees. Don’t take anything for granted!
Imagine the Property Vacant. Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture—it leaves with the owner.

Income + Lifestyle = Mortgage Payment. Sit down with your professional real estate Agent and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.

View Several Homes. Don’t move too slowly but don’t move on the first property you see. Look at a minimum of 7 -10 properties. With your Agent’s help, you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the work will have been worth it.

Utilize Your Team. By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your loaner, title rep and Agent. Each of them should work together to your benefit.

Explore all the options before you sign. Be a detective; check out all costs and expenses before you sign: utilities, taxes, electricity, maintenance and homeowner dues, if applicable. Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

Do a Final Walk-Through. Visit the property after all the furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.

Plan For Flexibility. Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the Seller needs a little move time to conclude final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.

If It’s Not In Writing, It Doesn’t Exist! All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions, can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the Seller’s written approval on all agreements.

Loyalty Breeds Loyalty. Be open, honest and upfront with your realtor. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the realtor in the beginning and your home purchase will be a pleasing and memorable experience.

Have any questions or like to learn more? Use the form on the lower end of the page to contact John Iwamura by e-mail.  John also has a click to call button at the top of the page and he answers his own line.  John realizes that you are probably in the information gathering stage of your process, and he want to provide assistance to you in any of your Central Oregon Coast Real Estate needs. When you are ready to invest in the real estate market give John the opportunity to help you. After all, he is a top experts in Central Oregon Coast Real Estate from Pacific City to Yachats including Lincoln City & Newport.