Can a Real Estate agent really help me in buying and selling property?
The answer is YES!
When you’re ready to think about buying or selling your property, you need to ask yourself the following questions:
- Do you have the time, energy, sources of information, and contacts to do the job yourself?
- If you were one of the `do-it-your-self’ people, would the results be as good or better than they would be if you had professional assistance?
- Would it have gone smoother?
- Would it have given you more personal time?
- Would you have purchased for less, or sold for more, if a Real Estate Agent was involved?
Read the following information and learn how a Real Estate Agent can help you understand everything you need to know about a Real Estate transaction;
The Buying Process
The process of buying a home or investment generally starts with determining your buying power, that is, your financial reserves plus your borrowing capacity. If you give a Real Estate agent some basic information about your available savings, income, and current debt, they can refer you to lenders best qualified to help you.
Most lenders-banks and mortgage companies-offer limited choices.
Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a Real Estate licensee. When picking a Real Estate agent look for one who is also a Realtor. A Realtor is a member of the National Association of Realtors, a Real Estate trade association, and all members agree to abide by a 17 article Code of Ethics. A Realtor has many resources to assist you in that search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
There are a myriad of negotiating factors, including, but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings and equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of your property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or recommended.
With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on your area and property, this could include inspections for termites, dry rot, asbestos, fault structure, roof condition, septic tank and well tests, just to name a few. Your agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your agent, title company or attorney can help you resolve issues that might cause problems at a later date.