Saturday Reporter-Herald July 24, 2010 E1
Real Estate Matters
www.homeandrealtyguide.com • Saturday, July 24, 2010 • Reporter-Herald
Buyer would do better with agent ILYCE GLINK TRIBUNE MEDIA SERVICES
Q
uestion: I’m thinking about buying a foreclosure in my old neighborhood. I’ve been renting an apartment for a year. There is a very active real estate agent in that neighborhood whom I used when I sold my house. The foreclosure I’m interested in is very close to her private residence. I don’t know how the commissions work on foreclosures. I want to pay the least amount for the property; therefore, I’m not sure if there is any benefit to using this real estate agent as a buyer’s agent rather than going through the listing agent directly. I would “like” to be neighborly, and she does a good job, but my main reason for buying a foreclosure would be to get a fabulous deal. What do you suggest? Would her representation really be worth it? Answer: I don’t think how much you pay for the property is usually tied directly to whether you use a buyer’s agent or the listing agent. The company that owns the foreclosure has already determined how much of a commission it will pay to the listing agent, who will then split it with the buyer’s agent. This is very typical of the listing agreement sellers and listing agents sign. If there is no buyer’s agent, you can bet the listing agent will keep all of the cash unless the agreement provides for a reduced commission amount if the buyer is not attached to a real estate agent. They’re not going to reduce the purchase price of the property unless there are specific circumstances that might permit it. Those circumstances are usually rare and you might never know or be able to find out if you can benefit from an arrangement the listing broker has with the company selling the home. The lender that owns the foreclosure will decide which offer to take, in the case of multiple offers. If you have your own agent, he or she can assist you in figuring out what homes are worth in the area, and how much of a discount you should get when you buy this property. The listing agent might not provide you with that advice, since the agent represents the lender. Bottom line: I think you’re I See GLINK/Page E5
Dakota
Glen
More Home.
More Life.
Attend an open house this weekend at Loveland’s newest subdivision, Dakota Glen RH PAID ADVERTORIAL
in the area to offer potential homeowners flexibility in creating their ideal home. akota Glen was created This weekend, Dakota Glen with a vision of getting RH photos/Jade Cody will hold an open house from 11 more. More choices, Above: The Dakota Glen sales center will be open this weekend. a.m.-5 p.m. today and tomormore opportunities, and most Below right: This Dakota Glen home features two bedrooms, row. The first 10 buyers at Dakoimportantly, more of what you two bathrooms and a full unfinished basement. ta Glen will receive a $10,000 truly want in a home. discount incentive. The new home community up of 133 acres, 65 of which are different pricing and home was created by Scott Bray, own- ABOUT DAKOTA GLEN styles.” open space. The property iner of Glen companies, and offers Dakota Glen currently offers cludes a large pond, which will Homeowners wanting the lowsemi-custom homes as well as 62 home lots which are part of be used initially to irrigate the maintenance lifestyle of a patio low-maintenance patio homes. the first two phases of the devel- recently seeded open space fohome have the opportunity to Bray formed a group of eight opment. There will eventually be liage. achieve that while still cusreputable and reliable builders 205 lots when all phases have “All detention areas are native tomizing a home to their needs. been completed. Snow removal and landscaping seed and irrigated by the unmaintenance are provided for treated raw water from the Dakota Glen is not If you go these homes. pond, which keeps HOA costs your ordinary home If you are interested in tourdown,” Bray said. community. It was What: Dakota Glen open house, ing the Dakota Glen home comdeveloped with a foThe ample open space also refreshments will be provided munity and finding out how cus on environmenmeans that homeowners will When: 11 a.m.-5 p.m. today and tomuch more you will be getting tally sound concepts have spacious lots — most of morrow for your money, visit the open and harnessing Colwhich backing to some type of Where: Angora Avenue, just west of house this weekend. orado’s natural beau- open space. Wilson Avenue “We’ve always tried to do ty. In its entirety, “All of the patio home lots For more information: 970-663-4522 more than anyone expects,” Dakota Glen is made back up to green belt,” Bray Bray said. “This isn’t our first said. “And most of the single development, and if you look at family lots back up to open space. We don’t want houses on what we’ve done for more than 30 years, you’ll see how we top of houses. maintain our high standards “I think the entrance, in a sense, tells it all. The first thing and our buyers love their homes and surroundings, plus maintain you will see is open space.” their home values. That’s what HOMES AT DAKOTA GLEN more is all about.” Priced in the $300s, Bray To get to Dakota Glen, take Iwanted to offer quality, custom 25 Exit 255, at highway 402 built homes with maximum flex- West (aka 14th Street SW), and ibility. continue 6.7 miles. Enter Dako“People can come in and real- ta Glen at Angora Drive, just ly take a plan that they like and west of Wilson Avenue. customize it to what they want,” For more information, call Bray said. Venna Hillman at 970-663-4522 or visit http://dakotaglen.com. “We are open to a variety of
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Inside this week’s Home & Real Estate
Real Estate Transactions
Realtor of the Week
Listings from Front Range properties recently sold
Maribeth Bergan, Broker/Associate Partner, The Group, Inc.
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Daylily Show & Sale Page E4
Director y Page E7