Your Guide to Understanding the Residential Real Estate Market
“Buying And Selling A Home – The In’s And Out’s”
Residential real estate is a broad market, encompassing a multitude of products and services for both home buyers and home sellers, provided for by a widely variant network of real estate specialists.
What It Takes To Sell Your House
With the advent of the internet and real estate market and marketing changes that has taken place over the last decade or two, selling a home has become more complicated. Most home sellers do not understand what a job it could be in order to sell a home, it’s not an easy job. In reality, it’s not like selling something like a pair of shoes, a television or even a car, it’s a process. You don’t just publish your house, meet a buyer, negotiate and sell it, there are some procedures you should pay close attention to in the correlation of home you selling. The following checklist is just a short list of the many things you should be aware of and follow through on if you are going to successfully and profitably sell your home:
- Create and correlated a promotion strategic. These strategies could include newspaper, pamphlet, videos, or various real estate marketing websites.
- Determine a reasonable and proper price for your house. Without proper knowledge, there could be a big difference between what you would like and what a buyer is will to pay. A good real estate agent could help you determine this.
- Decide whether you pay a professional to do pre-listing house inspection or not.
- Get familiar with financing terms, such as mortgage financing (fixed, adjustable, seller financing, assumable loans), pre-qualified, pre-approved, commitment, etc.
- Get a good understanding of the closing and settlement process. Not understanding could cost you thousands.
This partial list is just a very small part of the many aspects of selling a property in today’s real estate market. If you decide to enlist in an agent real estate services he or she will help you organize your home selling efforts, and help decrease your involvement in the selling process. Remember, a good real estate agent is knowledgeable in almost every aspect of real estate transactions; very few homeowners have this knowledge and expertise.
What It Takes To Buy Your Future House
In years gone by the home selling process and the concerns of the buyer were the responsibilities of a single realtor. However, things have changed and become more complicated, so has the needs of sellers and buyers. Buyers have some very particular needs, and specifically the need to feel that their best interests are seen to. Home inspections, price negotiations, deeds, title insurance, mortgage rates and contracts, and a host of other legal items and contracts, this and more is what the home buyer has to contend with. Yes, gone are the simple finding a house, negotiate the price with the seller, talk to your banker, the house is now yours the days.
Nowadays listing agents are representatives of the home seller. In that role they have a primary responsibility to that owner; not the buyers. Realistically speaking, can one person be expected to fairly look after the needs of an interested buyer as well as those of the seller? This would be extremely hard. In today’s real estate environment it is often more sensible for a buyer to enlist the services of a “Real Estate Buyer’s Agent”. In most states the real estate laws has made it possible for the buyer to enlist the services of a buyer agent without incurring additional expenses. This is one question you should ask your agent about.
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