DICK PALMER'S CODE OF ETHICS AND INTERESTING
INFORMATION FOR SELLING OR BUYING YOUR HOME IN THE ENGLEWOOD COLORADO AREA!
Dick's ENGLEWOOD COLORADO REAL ESTATE AREA "WEB SITES" WILL BENEFIT YOUR
INTEREST BY HAVING ALL RELEVANT INFORMATION AT YOUR "FINGERTIPS".
The importance of using a Realtor
Some people may assume that the word "Realtor" is just a shorter way to
say real estate broker or agent. But, as the COLORADO ASSOCIATION of REALTORS
points out, that is a
false assumption because the term "Realtor" is actually a distinction given only
to those real estate brokers and agents who belong to the NATIONAL ASSOCIATION of REALTORS
and to its strict CODE
OF ETHICS.
Why is a name so important? First of all, the term "REALTOR" is a
collective membership mark
registered with the U.S. Patent Office, and designates only those real estate
brokers and agents who are members of the national association.
Members of the national, state, and local REALTOR organizations display the Realtor
identification--the stylized "R"-or the name Realtor in their signs, advertising
and business cards.
Most importantly, if you use a Realtor, you can be assured that you are dealing
with a "REAL ESTATE PROFESSIONAL", with personal integrity as well as competency
in real estate matters.
Real Estate brokers and agents who wish to be Realtors must first be accepted
through their local Realtor boards. Acceptance for membership is based upon good business
character and demonstration of ability in real estate maters. Before attaining membership,
the real estate broker or agent pledges to abide by the association's nationally
recognized CODE OF ETHICS.
This code demands high professional conduct. It is a three-part document dealing
with Realtors' relations with the public, the client, and fellow Realtors. The essence of
the Code is the Golden Rule, contained in the code's preamble: "Whatsoever ye would
that men should do to you, do ye even so to them."
The Code is enforced through professional standards committees which are maintained
by local boards. These, in effect, are grievance committees charged with the
responsibility of hearing complaints and arbitrating disputes.
The public, as well as members of the board, can bring complaints before the
committee. Disciplinary action can consist of suspension or expulsion from membership. A
real estate broker or agent who is not a Realtor
is governed only by state license laws.
Because
Realtors have worked to unify and standardize their business practices since
1908, the term "REALTOR" has come to connote competence, fair dealing and
integrity in business relations.
In addition to promoting real estate information and education, the association is
involved in protecting the rights of all private property owners. It is the goal of the
association to make home ownership affordable and accessible.
The COLORADO ASSOCIATION OF REALTORS
reminds you that Realtors are people in the real
estate business who continues to be affiliated with well-organized real estate activities
and business practices. Realtors have the knowledge generated by over 75 YEARS of ETHICAL
STANDARDS, EDUCATION, EXPERIENCE AND RESEARCH.
HELPFUL HINTS WHEN PURCHASING A COLORADO HOME.
If you're looking for a home, the Colorado Association of REALTORS
offers tips you
might want to consider.
You need to check out the house carefully. New home or not so new, it pays to know
what to look for in the home's structure, equipment and surroundings. Though a final
assessment can be made by an inspection service company, the points listed below can serve
as a remainder of some things you should look for, in order to make a wise buying
decision.
STRUCTURE OF HOME
FOUNDATION. Floors and walls poured concrete. No evidence of water
seepage or moisture problems. Minor settling cracks usually not structurally significant.
DRAINAGE. Sump pump for sanitary and foundation draining. Crawl space
dry.
TERMITE AND WOOD ROT. May require inspection by qualified exterminate
for existing and potential problems.
FLOORS. Conditions of walls, whether drywall or plaster. Absence of
water marks.
ATTIC. Sufficiently insulated and ventilated.
FIREPLACE. Damper working, flues to chimney clear.
EQUIPMENT AND APPLIANCES
HEATING. Type of heat used and minor periodic maintenance required-oil
fan motor, lubricate bearings, clean humidifier, replace filters, etc.
HOT WATER SYSTEM. Type and gallon capacity. How long present unit in
service (if older home).
ELECTRICAL. Standard house current, number of circuits, outlets and
fuses or circuit breakers sufficient for everyday needs. Condition of wiring.
PLUMBING. Good water pressure throughout house. Tie-in to local water
supply facilities, etc., all in working order. Bathroom and kitchen fixtures in good
shape.
APPLIANCES AND FIXTURES. Range, refrigerator, dishwasher/disposal,
laundry facilities, etc. all in working order. Accommodation for gas grill hook-up.
Bathroom and kitchen fixtures in good shape.
EXTERIOR AND GROUNDS
LOT AND LANDSCAPING. Grading level or properly contoured. Trees and
shrubs sufficient for needs. Fences, walls, patio and driveway in good condition.
EXTERIOR WALLS. Type suitable to weather conditions, need for periodic
maintenance (painting or tuck pointing).
DOORS AND WINDOWS. Easy to open and close (or replace) for storm/screen
removal or installation.
ROOF. Gutters and downspouts in good condition. If older home, how long
have shingles been in use? Chimney flashing tightly caulked.
GARAGE. Doors or opener in good working order. Sufficient electrical and
heating access.
A GUIDE FOR BUYER'S ESTIMATED COSTS.
PRICE:
Purchase Price $________________________________________
Down Payment $_______________________________________
Balance $_______________________________________
GROSS MONTHLY COSTS:
Principal and Interest (est.) $______________________________________
Real Estate Taxes (est.) $_____________________________________
Total Monthly Tax Deductions (est.) $_____________________________________
NET MONTHLY COSTS:
Monthly Cash Outlay (est.) $______________________________________
Monthly Tax Savings (Assuming--% tax bracket) $_________________________________
Net Monthly Cost (est.) $____________________________________
TIPS FOR A QUICK HOME SALE.
When selling your home, there are a number of steps, you can take to accomplish
that goal more quickly, according to the COLORADO ASSOCIATION OF REALTORS.
Your Realtor, a real estate professional who belongs to the National Association of
Realtors, will have a lot of helpful hints to make your home easier to sell, but here are
some general things to keep in mind:
- First impressions are lasting. The front door should be fresh and clean, and the yard
should be neat and cleared of any toys or debris.
- Make certain that your home is clean and appealing. If the walls look dingy, paint or
re-paper them.
- Fix any dripping faucets. They discolor sinks and add to your plumbing repair bills.
- Fix any loose knobs, sticking doors, windows, and drawers. Failure to do so may be
interpreted as a sign of neglect.
- Bathrooms are a selling point: make certain that everything is shining. Clean and
repair bathtub and basin caulking. Clothing and personal items should be put away.
- Make certain the kitchen and all appliances are spotless.
- Cluttered rooms look smaller than they are; remove excess furniture.
- Closets and storage areas can look larger by disposing of items you don't need and
storing the rest neatly. Clearing them out now will also help you when you move!
- If paint on the exterior trim is peeling, it's time to get out the paint brush. Once
you get everything in shape, here are some additional points for showing your home:
- Before the prospective buyer arrives, create a cheerful atmosphere by opening drapes and
curtains. Make certain the temperature is comfortable throughout your home.
- Avoid having too may people present. Potential buyers may feel like intruders and hurry
through.
- Unless pets are quite, peaceful and well-behaved, get them out of the way
- Soft background music my be acceptable, but turn off blaring stereos, radios and
televisions. They can only impede discussions.
- Silence is golden. Too much talking on your part can only distract from the buyer's
inspection of your home.
- Never apologize for the appearance of your home. After all, it's been lived in. Let your
Realtor react to comments.
- It's a good idea to stay in the background-better yet, get out of the house. Your
Realtor is trained to sell your house, is familiar with the buyer's needs, and can point
out the significant features of your home.
Is all this effort worth-while? Simply consider that you are competing for the
buyer's attention with other families attention who are also selling their homes at the
same time. Time and effort invested to make certain that your home is shown in its best
light, will not only give you a competitive edge, but will also help you get the best
price for your home.
SELLER'S ESTIMATED PROCEEDS
Sale Price of Property (est.) $________________________________
Less Mortgage Balance (est.) $_______________________________
Less Other Encumbrances $______________________________
Total $______________________________
Projected Gross Equity $____________________________
LESS ESTIMATED SELLING/CLOSING COSTS:
Escrow Charges $_________________________________
Document Preparation $_______________________________
Title Charges $_________________________________
Transfer Tax $_______________________________
FHA, VA or Lender Discount $________________________________
Mortgage Pre-payment Penalty $_________________________________
Real Estate Taxes $______________________________
Appraisal $_________________________________
Survey $___________________________________
Termite Inspection $_________________________________
Corrective Work $_______________________________
Home Protection Plan $_______________________________
Unpaid Assessments $______________________________
Real Estate Commission $_________________________________
Other: $______________________________
Total Deductions (est.) $_______________________________
Net to Seller (est.) $_________________________________
"THE ABOVE IS GOOD INFORMATION, BUT THE REALTOR
WILL ADD
EXPERIENCE AND REALITY TO YOUR QUESTIONS!"
