Sunday, April 3, 2011

Guide in Getting the Real Estate Agent for You

By William Hunt


In looking for a property that you want, you may want to get aid from a real estate agent. A good real estate agent understands the community and some of the things inside it that buyers are normally thinking about, such as schools, business establishments, transport channels and entertainment facilities. This is why you will want to get the correct agent to help you. Ask your friends and family should they know one that they rely on.

You don't necessarily have to accept the first agent who offers himself to you. Make a shortlist of a few of them to begin with. Make sure to evaluate each agent's persona, experience, skills and understanding of his craft by conducting interviews. Get the most suited one you are comfortable with.

Real estate agents have the capacity to play a variety of roles. He can be a seller's agent. When he functions as such, what he prioritizes is the best interest of the seller and not yours. He can also be a buyer's agent. Whenever he is, your best interest is what he has in mind. Lastly, he can be a dual agent. A dual agent has your and the seller's best interest in mind. He will have to answer the needs of both parties. He also normally profits from the two. Common sense will tell you that it is wiser to get someone who prioritizes your needs alone rather than any other person's.

A competent real estate agent can assist you in going through the whole process of selecting and buying the house you like. One of the most important things he needs to provide is a proposed purchase contract based on the terms you want to offer. These terms must be negotiable. Unless you and the buyer agree on all of the terms stipulated, there will be no contract. Have the following stated in the contract: sales price, contingencies, move-in date and the list of the things in the house considered as part of the package to be bought.

Include in any contingencies on financing and examination. Having a financing contingency can look after your deposit in case you are unable to get a mortgage or a bank loan program that suits you. Before signing the commitment, you can also have an attorney check it whenever you have integrated attorney review in the contingency section. State too a provision about house inspection. Specifically state that you will have the right to cancel the purchase, need the seller to replace and fix, or renegotiate the contract if the home falls short of accepted specifications. Don't forget to inspect for termites, rats and other insects, and environment hazards too.

Your current agent will prove to be beneficial if you are able to accomplish all these items with him.




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