Tim Hagedorn

In Wisconsin, a homebuyer can choose to work with a buyer's agent or a selling agent. Either way, your agent is a specially trained professional, licensed by the state of Wisconsin, who is obligated by law to treat all parties to a real estate transaction fairly.

Selling Agent

If you work with a selling agent, there is no contract between you and the agent, and you are not the agent's client. You will, however, receive a Broker Disclosure to Customer form that lists the fair treatment duties owed to you and indicates that the selling agent is either an agent of the seller or an agent of the listing broker (subagent).

Buyer's Agent

If you work with a buyer's agent, you are the buyer's agent's client. You and the buyer's agent sign a WB-36 Exclusive Buyer Agency Agreement that includes a Disclosure of Real Estate Agency. The Disclosure lists the fair treatment duties owed to all parties and the duties owed to you as the client, and indicates that the buyer's agent is the agent of the buyer.

The buyer's agent works for the interests of the homebuyer, but also must know how to work with the listing agent. A buyer's agent can:

1. Give a negative opinion or critique of a seller's property beyond disclosing defects.
2. Recommend or suggest an offering price or give you an opinion about whether a particular house is priced too high or too low.
3. Structure the offer and draft offer provisions with the buyer's best interests in mind.
4. Recommend and assist the buyer with negotiation strategies for the best price and terms.
5. Research and disclose all information and research a property's history title and liens so the buyer can make a better informed decision.
6. Give advice within the scope of the agent's expertise as a licensed real estate professional.

Every house has defects. Some are easy to spot; others are hidden. Some are trivial; others are more serious.

Defects in a home may affect your decision to buy, as well as the price you're willing to pay. That's why it's important to have your real estate agent include an inspection contingency in your purchase contract. This allows you time before your purchase becomes final to hire a home inspector to conduct a pre-purchase home inspection. The home inspector will evaluate and inform you of the physical condition of the home you want to buy.

A standard home inspection covers a home's major mechanical systems - electrical, plumbing, and heating and air conditioning, as well as its construction from roof to foundation, exterior to interior. Your inspector may also provide you with additional information beyond the actual inspection regarding home repairs and maintenance.

The best way to find a qualified home inspector is through referrals from your real estate agent, friends and colleagues. Interview the inspector or inspection firm about reputation, the type of report provided, insurance coverage, guarantees, etc.

The most important thing is to make sure the home inspector is registered with the state. Starting November 1, 1998, all Wisconsin home inspectors must be state registered in order to conduct home inspections. Registration by the Wisconsin Department of Regulation and Licensing obligates the home inspector to pass an exam and follow specific standards of practice, as well as provides a place for consumers to turn to if they need to file a complaint against an inspector.

Here are some other questions you should ask before hiring a home inspector:

1. How long has the company been in the home inspection business?
2. How many inspections has the individual conducting my inspection performed?
3. Can I accompany the inspector on the inspection?
4. Will you provide me with a professional inspection report immediately after the inspection?
5. Will your report indicate the ages of all major elements?
6. Are your inspectors covered by E & O Insurance?
7. Is there Workers Compensation Insurance coverage on your inspectors?
8. Does your company include any guarantee in the inspection report?
9. What protection does your company offer against deficiencies found after purchase

Every lender requires title insurance. The company issuing the title insurance policy will research legal records to make sure that you are receiving clear title, or ownership, to the property.

Problems with title can limit your use and enjoyment of real estate you have purchased, as well as bring financial loss. Each year, millions of dollars are involved in title disputes.

Basically, title insurance protects you from losses as the result of claims on the ownership of your real estate. Unlike other insurance policies, such as homeowners and auto, title insurance protects you from things that may have happened in the past.

Title insurers, through an extensive search of the public records, provide you with a detailed list of the claims that other parties may have in the real estate, such as:

• taxes
• liens
• loans on the property
• easements
• the rights of others to use the land

But even the most careful preventative work cannot locate hidden hazards of title. Hidden hazards can show up after you buy your real estate, causing an unpleasant and costly surprise. Title insurance offers you financial protection against these hidden hazards. Examples of hidden hazards are:

• a forged deed that transfers no title to real estate
• previously undisclosed heirs with claims against the property
• instruments executed under expired or fabricated power of attorney
• mistakes in the public records

The cost of title insurance varies. It is a one-time payment that safeguards you against loss arising from hazards and defects already existing in the title. You are protected by title insurance for as long as you own the real estate.

The opportunity of a lifetime is at hand - right now ! Plenty of homes are available in Wausau at affordable prices. Interest rates remain historically low.

And to sweeten the pot, there's the tax credit-up $8000 for qualified first-time buyers whose income is within IRS-established limits. This money that never has to be repaid, provided you live in the home for three years.

You must close on your home purchase no later than Nov 30,2009. Don't wait. Give me a call and I can help you decide whether now is the time for you to become a homeowner. And if the time is right. I'd be honored to represent you as you seek out your dream home.

Beautiful, professionallly restored, historic home located in Wausau's East Hill District. Centrally located between Downtown & Wausau City Limits. This elegant home features a new kitchen, 2.5 bathrooms, refinished hardwood floors, fresh paint, open staircase, large rooms with lots of daylight & a large master suite. This home was built in 1922 by the Founders of Connor Lumber Co. & was built using the finest quality materials including a fired Ringle brick exterior.