Housing Grants Available

Downpayment and Closing Cost Assistance
There are programs available through local community development offices. You must apply to each program through the office of its provider.

*Table sources from http://www.belmonthousingwny.org/content/pages/down-payment-closing-cost-assistance

Buyer Agency - Why you need it?

We are constantly fielding calls from prospective buyers with regards to questions about our properties we have listed. Most buyers are very open with regards to communication, and are going about the home search process alone. Very few buyers understand they need and advantage of having a licensed agent represent them as a buyer's agent. Buyer agency is defined as a principal-agent relationship in which the broker is the agent for a buyer, with fiduciary responsibilities to the buyer. What does that mean? It means that a buyer's agent is tied to the buyer, and all of your loyalties are to the buyer. (nothing to do with seller's agent) So why do so many buyers go out and purchase homes without a buyer's agent?


Buyer agency is a relatively new concept for the real estate world. In the past, agents were Seller's Agents, working for the person who signed a contract employing them to sell real estate. Over time that arrangement resulted in too many misunderstandings. A buyer working with a Seller's Agent often regarded that person as his agent, and felt free to make confidential statements, not understanding they would be passed on to the seller.

As a result, New York State require us to explain agency status to the buyer. In addittion, most seller's agree to pay a buyer's agency fee as it is an established part of their MLS Listing Agreement. Therefore, it comes at no cost to the buyer.

In today's real estate world, you'll find agents who work as Seller's Agents and Buyer's Agents, and in some areas you'll see Dual Agents and Designated Agents. Here's a simplified recap of those terms.


Seller's Agent
Your duty is to obtain the best deal for the seller. You are allowed to give the buyer only material facts about the property.

Buyer's Agent
Your duty is to obtain the best deal for the buyer. You may pass on any and all information you obtain about the seller or the property.

Dual Agent
You must be loyal to both parties. Dual agency occurs when a real estate agency owns a listing, and an agent from the office, working as a buyer's representative, shows that listing.
Dual Agency must be disclosed and agreed-to in writing by both parties, since it's sometimes difficult to focus on the needs of one client versus the other.

Designated Agent
Very similar to Dual Agency. The broker-in-charge designates two agents to work a transaction, one for the seller, one for the buyer.

First Time Homebuyer Guide

The amount of information available for first time home buyer's is overwhelming. The life-changing process of acquiring a new home is very time consuming.

The New York Home Buyer Education Program does a great job explaining the process. The offer seminars across the state and seminars to help educate home buyers.

The link below is an amazing guide on the home buyer process. It is 52 pages long and covers all the aspects of home buying. Categories covered in the .pdf link are home searching, loan pre-approvals, financing, closing procedures and the overall process. It is such great resource, we send this to every client we have to help explain the home-buying process.

Check out the Home Buyer Education Program Workbook on the link below:
http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home