"MY REAL ESTATE BROKER IS FULL STACK"
Buy
Representing Buyers throughout the State of Oregon
Buyer Representation Services
If you have already identified a property to purchase or are using "big tech" to find your home, there is no reason you should pay a full buyer's commission.
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When you are ready to make an offer, FULL STACK will spring into action, and start negotiating and drafting contracts on your behalf. We will attend inspections, guide you through the due diligence process, inspect title, work with your lender, and guide you through a smooth closing process.
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Full Stack is flexible. Whatever your particularly needs are, we can service them.
We are experts of the atypical. If you are buying or selling in any way that is unordinary, we will tailor our scope of work specific to your needs.
We close transactions involving:
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Land Sale Contracts
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Seller Carried Financing
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Creating or Terminating Easements
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Title issues
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Tenant-in-common or TIC Agreements
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Options
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Commercial Sales and Leasing
FIND YOUR HOME OR INVESTMENT
Most home buyers start their search for their next home online. The “big tech” companies have done a great job of providing the general public with loads of information that allows them to customize their search for the perfect home.
Buyers can set video tours, or schedule a multi-property tour directly through a big tech website, and have a listing agent open up the house and show them around. Starting August 17, 2024, you are going to need a signed agency agreement before a selling agent will let you tour a house. Reach out to FULL STACK to get an agreement in place before you set out to tour homes.
If you don't, you should expect every Seller’s agent to try and turn you into a client (at the tune of 2.5 - 3 % of the sale price!). Be prepared to respectfully decline their offer of representation, while letting them know that your broker is FULL STACK, and will be submitting the offer on your behalf.
If you chose a limited representation and have been looking for the perfect home for a while and are getting discouraged, remember that you can upgrade your scope of services, and have FULL STACK partner in your home search.
Reach out to get started: 503.710.2566
THE PURCHASE AND SALE AGREEMENT
As a real estate broker and attorney with substantial work in title & escrow, and years of experience representing clients with real estate issues in court, I am often asked to consult on real estate transactions when an agent is faced with something outside of their comfort zone.
If you are thinking about buying or selling a property with seller carried financing – either through a promissory note & deed of trust, or through a land sale contract, you probably need an attorney involved. The financing mechanism you use is extremely important, and can benefit the seller or the buyer greatly depending on the considerations of the deal.
Buying real estate is a big deal – you want to make sure you have an expert guiding you through the process.
When you choose FULL STACK to represent you, you will be guided through each detail of the purchase and sale agreement, and you will have the opportunity to ask questions, get expert feedback in real time, and tailor your Purchase and Sale Agreement to fit your needs.
Once finalized, FULL STACK will transmit the offer to the Seller’s agent, and begin negotiating on your behalf. Once your offer is accepted, the due diligence process begins!
DUE DILIGENCE
Once the seller accepts your offer, we send the purchase and sale agreement to the title and escrow company to begin a title exam. Within 2-5 days, the title company returns a title report that shows a number of important pieces of information about your home to be.
It is critical that a title report is carefully reviewed by an expert. A number of the litigation clients Tyler Howell has served throughout the years could have avoided a lawsuit simply by having an expert review their title report – it’s that important.
The title report shows ownership, property information, title insurance coverage and premiums, taxes, and other real property information that should be carefully checked and verified for accuracy. However, the most important section of a title report is often the “exceptions.”
Exceptions are called exceptions because the title company is insuring your real estate title against everything “except” the items listed as exceptions. Some exceptions are likely to be removed through the closing process. For instance, if the seller has a mortgage on the property, it will be listed as an exception on the title report. That encumbrance or exception will be removed at closing, if the underlying loan will be paid off at closing.
However, not all exceptions are created equally. Easements are listed as exceptions on a title report and can have a huge impact on how you use your property. After all, a grant of an easement is a grant of a property right to another – so if you have an easement listed as an exception on your title report, someone else has the right to use your property in some way.
Most easements are acceptable, such as easements for public utilities, but some are not. Depending on how you plan to use the property, an easement could be a deal breaker. And if you choose to have the exception removed, there is a good chance that it will involve a technical legal process, and an attorneys involvement.
In addition to easements, many properties in the Pacific Northwest have covenants, conditions, and restrictions or CCRs encumbering the property. This is particularly true if you are buying a property with an active homeowner’s association or a condominium.
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In planned neighborhood, you may have CCRs recorded that may severely restrict what you do with the property. For instance, if you purchased the property expecting to run a daycare business. But if the CCRs restrict business, you and your clients may be out of luck.
Simultaneously during the title review process, physical inspections of the property will be conducted. When conditions are found that need to be addressed, a negotiation with the Seller ensues. FULL STACK leverages its principal's hands on experience building houses throughout college, and years of experience as a construction lawyer, to: (1) help you avoid buying a defective home; (2) negotiate for concessions; and (3) give you an in-depth analysis of your options so you have all the information you need to make an informed decision based on expert recommendations.
CLOSING
Once the due diligence process has been completed a transaction moves to closing. At closing, an escrow officer will collect all of the financial information, including all of the fees of the closing process, items that need to be prorated like taxes, title and escrow fees, and produce a settlement statement. The settlement statement shows all of the financial details of the transaction, and should be carefully reviewed.
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The escrow officer will work with your bank or mortgage broker on producing the loan documents for your transaction. If there are any issues, we have you covered - FULL STACK guides you through the entire process. If anything comes up, we have all the expertise in house to get you to “closed!”
HOW MUCH DOES IT COST?
For most residential transactions, FULL STACK charges a low fixed rate that amounts to about 1% of the purchase price (which is 1.5-2% lower than a traditional real estate agent). We ask for a non-refundable deposit which is due at the time we begin drafting the purchase and sale agreement. The other portion of the fee is due at closing.
These fees are structured with several factors in mind. First, the fees are designed so that the value we provide to our clients is greater than the fee we charge. We want you to feel great about working with us, and making sure the value exceeds the cost is the first step towards that goal.
Second, our fees are designed to give us the ability to serve buyers across all price points. The amount of your down payment is directly correlated with your purchasing power. If you have to pay $15,000 for a real estate agent, that could reduce your buying power by up to $60,000 (assuming a 20% down payment, and 80% financed).
Third, our fees are more likely to be paid in-whole by the Seller. We want your offer to be as competitive as possible. In this new market where Sellers do not have to pay a buyer’s real estate agent’s fee, our fees are more likely to be paid by the Seller because they are lower than a traditional buyer’s agent commission. If the Seller is offering to pay, FULL STACK’s client’s offers are more competitive because the Seller can pay our fees, and keep the excess fees they would have had to pay for another buyer.
However, under the new system, if a Seller isn’t offering to pay any of the Buyer’s fees, our fees are not going to make buying that property cost prohibitive. Our goal is to get you to closed, and we don’t want high fees getting in the way of that.
All real property is unique and therefore fees can vary, but most clients fall under our typical rate structure. Give us a call today for a quote and onboarding so that when you are ready buy, we are ready to get to work on the Purchase and Sale Agreement.
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