Finding a home that is priced below market value and navigating through the mechanics of the real estate transaction are not easy. If you have a tax question, or need legal advice, you seek a professional. When it comes to finding the right house for hundreds of thousands of dollars, and making sure the transaction goes smoothly, you need your real estate professional.
When you a buy a house through your real estate agent, she or he is taking care of you at no cost to you. The seller typically pays your agent, so you get representation for free. That's a bargain, considering all of the service your agent will provide for you:
Your real estate has access to the right resources and networks to find homes that are "undervalued". Of course, you can find homes on the Internet or through local ads . . . but houses that are placed on the market below market value often don't ever make it to the MLS, let alone the Internet! Real estate experts know that less than 15% of the homes sold in America are ever advertised in the newspaper or in a magazine. Your real estate agent is privy to these "steals." She or he is in constant contact with the other agents who have listings coming onto the market. Working through your agent, you can get first crack at these properties before they are advertised to the public.
In addition, your agent can find you the right home while you're at work and tending to your other responsibilities, and show them to you at your leisure. Today, MLS listings can be emailed directly to your computer, with photos and details about each home. What's your time worth? Your agent can save you plenty of time.
A lot of thought and analysis needs to go into your offer. Factors like comparable properties on the market, recently completed transactions, location and the seller's circumstances all play a part in the amount of the offer. Your real estate agent will help you present the most reasonable offer. In addition, your real estate agent is an accomplished negotiator who can make sure the deal moves smoothly to closing (making sure the deal doesn't fall apart is critical!).
Most real estate agents work closely with one or several good lenders. Your real estate agent can help explain the myriad of loans (VA, FHA, Conventional, ARMs, etc) and set you up with a good mortgage lender. This person will help steer you through the application process and the paperwork maze. Most importantly, this person should help get the best loan for you. Take advantage of your real estate agent's team which usually includes a good mortgage lender.
Due Diligence is the process of trying to discover potential problems in the house you are buying before you buy. These problems can range from structural or cosmetic (for example, termites or leaky roof) to problems with the title, taxes or homeowners association. Your agent has experience uncovering these problems, and can save you a lot of money and grief. Furthermore, your agent typically has preferred structural and termite inspectors that are a part of her or his team. This inspector can help uncover any problems that may cost you money and grief later on. Also, your agent will make sure you bring everything you need (paperwork, the exact monies, etc.) to the settlement table. Their job is to make sure the escrow goes smoothly. |
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| Renee West |
| 714.914.9060 |
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