Have a question that you want answered? Email us at paradise at Hobizbo dot com; we are happy to help.
Where does the home data on Hobizbo come from? Is it real time? How accurate is it and how often is it updated?
Our data comes directly from CRMLS (California Regional Multiple Listing Service) and is as accurate as the brokers who input it. We refresh the data multiple times per day so you can be sure the status of a home is ‘real time’ current.
Why do some property listings have amazing property photos and others look significantly lower in quality?
Some of the photographs are taken by Hobizbo professional photographers and some are not.
According to the National Association of Realtors Annual Profile of Home Buyers and Sellers, 83% of buyers rated photos of properties for sale as the most useful feature. We set out to raise the bar even higher by offering professional photography for homeowners and real estate agents, free of charge, to create an amazing experience for buyers.
When I Ask Hobizbo a Question through the app, who is actually answering these?
If I schedule an appointment with a ‘Certified Hobizbo Specialist,’ does this mean they are my agent?
No, it does not. The agents on the Hobizbo platform are simply available to help you tour the home and answer any generic questions you have. You can choose to work with each other but by no means is there an expectation that you must. You should choose the agent whom you feel most comfortable working with and you won’t know that until you meet a few different agents. Once you do select an agent, be sure that all aspects of the relationship are carefully explained in a written agreement.
I have never written an offer before but want to use “Write An Offer.” Can I talk to someone at Hobizbo about the process?
The short answer is YES, Hobizbo is here to help answer as many questions as we are legally able to without creating an agency relationship. Hobizbo is not and will never be your ‘agent’ in the transaction. If you need an agent, we’ll be happy to refer you to the best there are in your given area. We are able to answer questions about the technology but cannot provide specific advice as to your offer or home buying scenario.
Do I need an Agent to use Hobizbo to ‘Write an Offer?’
You do not need an agent to use the write an offer feature. Most homebuyers do hire an agent to assist them through the process for a number of reasons but if you feel you have the experience to do so on your own, all the power to you.
If I write an offer without an agent, is Hobizbo my agent?
No, Hobizbo is not a party in the transaction, simply a platform for you to be able to submit your own offer.
Some buyers who have been through the home buying process before (who understand how it works) have told us they don’t need (or want to pay) a real estate agent. Whether you want to buy a home with an agent our not, Hobizbo makes the process of making offers fast, easy, and fun.
I have an Agent already, should she/he sign up and write the offer for me?
It’s completely up to your agent. Hobizbo is by no means suggesting a buyer and seller use anything but a CAR form once the buyer has been chosen and parties are going to escrow. The distinction is Hobizbo is using a letter of intent (LOI) to solidify the main economic and qualifying deal points, before the formal purchase and sale contract is drawn up. A typical home offer includes a 9-page agreement and other disclosures that generate an average of 25 pages of documents. Some of those include:
• Buyer’s inspection advisories,
• Disclosures regarding real estate agency relationships (and confirmation of real estate agency relationships),
• Wood destroying pest and allocation of cost addendums,
• Pre-qualification letters,
• Bank statements,
• Copies of earnest money checks,
• Disclosure and consent for representation of more than one buyer or seller,
• Agent visual inspection disclosure,
• Cooperating broker compensation agreement,
• Statewide buyer and seller advisory,
• Buyer’s agent fax cover sheet,
• Personal letter from the agent with pictures of the family and dogs,
These documents will be needed from whomever the seller decides to sell the property to, however, listing agents do not need (or want) all this paper in the initial offers reception process. What the seller and listing agent truly care about are a few key terms, including:
• Escrow Period,
• Earnest Money Deposit,
• Financing Terms (Proof of Funds/Pre-Approval Letter)
• Loan Contingency Period,
• Inspection Periods,
• Closing Costs Credits / Home Warranty,
• Escrow and Title Allocations
Why do I have to upload my proof of funds and pre-approval to submit an offer?
When the real estate agent sees an offer with those documents attached, the agent instantly has more confidence that you are serious, qualified, and intend to close escrow. The agent will also know that you and your agent are thorough and on top of your game.
A pre-approval is a fairly simple thing to get, and an approval isn’t much more these days. If you are working with an agent they can certainly refer you to a good lender who can help you get that pre-approval you should have for the Seller to seriously consider your offer. If you don’t have an agent yet, send us a message and we’ll refer you to the top lenders we work with.
Do I need to be pre-approved or pre-qualified before I “Write An Offer?”
The short answer is YES, you should be ‘pre-approved’ before writing an offer (assuming you want your offer to be taken seriously.)
Note that there is a distinction between approved and qualified. Without good preparation, many buyers get lulled into the mistaken notion that if a lender pre-qualifies them for a mortgage this means that they have been pre-approved for a home loan. Unfortunately, there’s a world of difference between these two terms. To be pre-approved, you’ll complete an official mortgage application (and usually pay an application fee), and then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. You will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as he or she will know you’re one step closer to obtaining an actual mortgage.
What if I change my mind after I make my offer?
Many home buyers will experience second-thoughts about buying the house shortly after making the offer or at some time during the period of time leading up to the closing. The nice thing about writing an offer with Hobizbo is that it’s non-binding until the seller accepts your terms and both you and the seller sign a binding purchase and sale agreement. Even after that point, you have a number of contingencies in the contract, which allow you to cancel for just cause. Be sure to consult your licensed real estate agent or an attorney with specific questions.
Just know that buyer’s remorse (as it’s known in the industry) is completely normal and most homeowners experience it to some degree. If you’re still not so sure, when making an initial offer, be sure to include an Option Period (especially if you are needing a few more days to be certain of your decision).
What’s an Option Period? An option period is a period in which a Buyer is granted the right to terminate a purchase contract for ANY given reason. An option period can be one day, seven days, ten days… it’s completely negotiable. The Buyer offers the Seller a sum of money (about $25 a day or so) for the unrestricted right to walk away. Often, the Option Period is used (by the Buyer) to have inspections, talk to lenders or just to talk with their family. If the inspection is good, the lender says “you’re qualified” and parents say “go for it,” the option period expires and the Buyer moves forward toward closing.
How is Hobizbo different than RedFin and Tulia/Zillow?
Redfin is a technology-powered real estate brokerage. While Redfin real estate agents earn a salary, not commissions, they are still in the business of representing buyers and sellers in the purchase and sale of homes.
Hobizbo INC. is a licensed California real estate brokerage building technology for homebuyers, seller, agents, and brokerages, alike, to make the home buying adventure faster, easier, and more fun. We do not represent buyers and sellers in buying and selling homes but do help buyers and sellers find the best local agents to assist them in the process. We believe in speeding up the process of writing and negotiating an offer. We believe in providing concierge level service to buyers who expect instant results with 24/7 immediate access to experienced local real estate agents.
Zillow is a leading online real estate marketplace dedicated to helping homeowners, buyers, sellers, renters, real estate agents, mortgage professionals, landlords, and property managers find and share vital information about homes, real estate, and mortgages. Zillow is a media business model and makes money selling targeted, relevant advertising to real estate professionals, and connecting home and mortgage shoppers with professionals who can help them.
Trulia is a leading online real estate marketplace giving home buyers, sellers, owners and renters the inside scoop on properties, places and real estate professionals.
We believe in servicing buyers and sellers at the point they want to be serviced. We believe buyers want a beautiful and intuitive mobile interface that streamlines the transaction in a way that aligns them with sellers and their agents to make that personal connection more meaningful, engaged, and informative. After all, the best access to consumers locally is through agents, relationships that exist in the real world. Hobizbo serves as the facilitator of that local community as a local advisor, ensuring buyers and sellers are matched with the best agents, not promoting our own or those who are paying us to do so.