By Donna DeLauro
Whether you are thinking of buying, or selling a home, there are some important things to consider.
Where do you begin?
In the current real estate market, it is important to start with a team of professionals working on your behalf throughout your transaction.
As a buyer, your team (Realtor, Lender, and Attorney), will work hard to help reach your goals.
With little inventory out there, your Realtor will keep you on top of the market of available properties for sale and be sure you don’t miss an opportunity to purchase amongst the crowd. Popular listings will have limited time on the market and showings may be determined at the onset of the listing going active. Buyers need to be available for showings on specific days and times, and there may not be an opportunity for a second showing before making that important decision to make an offer. Strategic negotiations are critical in a multiple offer situation. Every transaction has its own unique set of circumstances, be it the seller’s situation, the property condition, location, timing constraints etc.Your Realtor will research the property history for any potential red flags or information that may have an impact the terms of your offer.
Your Lender will be a vital resource and your first step to determining your buying power. Your Lender will qualify you utilizing the best loan products that will fit your financial situation as well as provide a basis for your qualification to the seller. In a multiple offer situation, the seller will review all offers analyzing not only the highest price, but the best terms as well. Buyer qualification is a key factor to successful negotiations. Depending on the loan type, the appraisal is also vital to getting to getting to the closing table. We are seeing all kinds of unusual offer terms in this competitive market. Buyers waiving inspections and appraisal conditions, offering incentives to sellers in hopes to have their offer accepted.
Your Attorney will provide a title search to be sure your new home is clear of any liens or encumbrances and prepare the important details for your closing.
Your Attorney will be representing the transaction for the lender and you as the buyer. Often the seller will have representation of their own. This will be most important if there are issues along the way and matters need legal assistance.
In both buyer and seller transactions, your Realtor will be your guide towards a successful closing.
Your Realtor should be attentive, listening to your specific desires and goals and be always honest and upfront.
How do you find a Realtor who will help you reach your goals?
Many of you will know someone in the business, maybe a friend or relative.
Is it wise to work with family? Will my Realtor friend be the best resource for me?
Perhaps, if that person is the best one for the task at hand.
Here are some questions to ask yourself…
- Is the Realtor a full time, or part time worker?
- How successful is that person?
- Does that person have positive testimonials from past clients?
Interview several to compare how well you interact with them.
Ask questions that are pertinent to your specific needs and goals
You should feel comfortable about your confidence in that person
You will spend a good amount of time with your Realtor, it is important that you are comfortable talking about your personal situation.
There are standard tasks that all Realtors should perform…
For listings…provide a current market analysis to determine fair market value for your property, advise how to prepare the property for sale, complete paperwork, take pictures, submit the listing in MLS and other real estate search sites, be available to show your home.
For buyers…meeting the buyer for a consultation prior to starting, providing the financial, and procedure expectations. Setting up your specific search criteria so you receive email alerts when properties come available for you, and coordinate showings to visit. Assist in a strategy to making an offer on a property, and assisting, and coordinating the transaction to closing, communicating with your lender, attorney, and list agent.
The exceptional realtor will provide their best contact information to all prospects and agents, answer requests immediately, show the property at the convenience of others, and maintain communications with all parties. Once an offer is prepared, or received, then the important work begins. Your realtor has a lot of work to do to be sure the transaction goes smoothly, being present and available to everyone involved, communicating with all parties, coordinating and guiding you through step by step tasks driving you to the closing table, being informed and proactive so there are no surprises or disappointments.
You can search for an agent online or hire one that has been recommended by someone who has had a positive experience.
In any case I hope your purchase or sale is successful and stress free!
Thank you and good luck!
Donna DeLauro ReMax Real Estate Center
Dedicated to providing quality service my client’s deserve
Also proud founder of Mature Matters. Senior Real Estate Specialists
401-486-6044
donnadelauro@hotmail.com
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Now more than ever it's more than just buying or selling a home! - Cranston Herald
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