15 Things That Your Real Estate Agent Never Tells You

Buying or selling your house or any other kind of property is a big decision. All due to this, people never wish to do it alone, but in the association with an expert who has mighty experience in the process.

Real estate agents or realtors are such a people, group of people or even an organization performing this task on your behalf. They are the dedicated professionals, registered or unregistered, offering you all the assistance you need, whether to buy or sell a property.

And this is why it is necessary to consult a good, reputed and experienced real estate agent or firm only.

However, even when you consult the best one, there are a few things that the real estate agents do not tell their clients. Here is a list of these:

  1. First of all, you may not always need to hire a real estate agent to sell your house, especially if it is located at some plush location or is at a place that is yearned by many.
  2. Most of the real estate agents work on commissions. They may tell you that their commissions are fixed, but in reality, the commissions are always negotiable.
  3. And if you choose not to hire a real estate agent and sell your house yourself, you can even avoid those commissions.
  4. If you are about to sell your house, you would consider vacating it to offer a better view to your buyers. However, a furnished and tidy house is said to sell better than a vacated one, since the buyers can get an actual view of how they would keep their products.
  5. Buyers do have a view of your kitchen, but kitchens are not what people put on their priority list before buying a house.
  6. Agents may say that they do not have an idea about the neighborhood, but in reality, they actually know the kind of neighborhood you are moving in with.
  7. Do not doubt individual workers or small real estate firms, even if the big ones tell you tales about their inexperience or inefficiency. You may never know the real tales behind.
  8. Before you buy a house, you can even hire a home inspector and get the house inspected to know the hidden flaws etc. in the house. You can also get to know its real worth.
  9. Even your home inspectors may not tell you everything about the house.
  10. Most of the real estate agents do not wait for long to get you the best bid for your house. Instead, they would wish to get a fair deal and get it done within, say, a month’s time. It may get them a low commission but it needs less marketing and they can concentrate on other deals.
  11. A home you are buying should essentially be in a move-in condition. If it needs a few safety fixtures or a big investment, you are better off looking for something else.
  12. Even if you hired a good real estate agent, you need to keep a check on their activities and you can always fire them if you think that they are not acting on what they actually promised.
  13. There could always, always be a better deal. But then, there’s no guarantee.
  14. Agents may get commissions from both the buyers and the sellers. So never always consider them on your side.
  15. Holding an open house may actually find you a better client.

So while you buy or sell a property with the help of a real estate agent, do keep these elements in mind.

A bit of your vigilance may not always save your expenses but also prevent you from any sort of future regrets.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Vaibhav Srivastava

Indiana’s Market Stabilization Program is an Option For Fort Wayne Home Buyers

One of the programs I would like to make home buyers in the Fort Wayne area aware of is the Indiana Market Stabilization Program. Previously, Fort Wayne home buyers were able to use local funds through the Fort Wayne Market Stabilization program. Unfortunately, these funds are no longer available, but the good news is that the state of Indiana offers a very similar program and it has yet to exhaust its funds. Developed by the Indiana Housing and Community Development Authority, this program offers qualified first time home buyers with up to $15,000 for down payment, rehabilitation or closing expenses. These funds will be in the form of a zero-interest, non-amortizing, second mortgage loan that if occupied longer then 10 years will not have to be repaid.

Does this sound too good to be true? Well, the home does have to reside in an area that the state of Indiana deems unstable and the home must be a foreclosure. Thankfully, the MSP map is very accommodating and covers virtually all of Fort Wayne. Neighborhoods such as, Southwood Park, Avalon, North Highlands, Forrest Park, Bellshire and Lofton Park are all considered unstable by the state. Potential home buyers must also meet income eligibility based upon the standard of living for their county. Fort Wayne home buyers should choose a participating lender who is trained and has working knowledge of the requirements for the Market Stabilization program. Prior to submitting your file to Indiana Housing, a home inspection will need to be completed. The inspector used must be registered with the department of Housing and use the Indiana Home inspection form. The items that fail the inspection and require repairs with Indiana Housing funds will require the home buyer to get 3 repair quotes from licensed contractors for each repair. Once these items and necessary documents are completed, then the lender can submit the file to Indiana Housing for approval.

Once received, it can take 7-21 days for the file to be viewed and approved. If items are missing, the lender will be notified and, until the incomplete items are corrected, the file will be put on hold. When the file is approved Indiana Housing requires a settlement statement prior to funding. Once a Hud-1 has been submitted, funding will take an additional 7-14 days. As you can imagine, these transactions require patience and understanding in order to close successfully. Fort Wayne home buyers can breathe easy as most of the area meets the state’s requirements as being unstable.

For more information, and to verify if a foreclosed home is within the stabilization designated area, please contact me or another licensed Realtor in the Fort Wayne area. You can also visit Indiana Housing Now for more details on the program and information on additional state programs for Fort Wayne home buyers.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Courtney Bontempo

Discount Real Estate Broker

Throughout the country, the term „Discount Real Estate Brokers“ is quickly becoming the one of the most talked about subjects in the real estate industry.

Many home sellers are learning they no longer have to pay the high cost of a 6% listing commission. This upcoming and rapidly growing trend has created multiple low cost listing programs, along with more and more discount real estate brokers who are offering to save you money on the sale of your property. New companies and multiple websites are cropping up all over the country simply because flat fee listings or discounted commissions are now being demanded by property owners who wish to successfully list and sell their home and save money to boot.

Before you choose a discount real estate broker; it is important to understand not all are the same. There are at minimum two major differences between a flat fee listing or so called commission free listing. One is whether they provide full or limited service; and the other is whether they are companies with licensed brokers or are they staffed by hourly employees.

Unfortunately many home sellers are learning, you simply don’t get much more than what you pay for. Too often if you are paying a discounted listing fee you may also be getting less than what you deserve by those companies who only give you limited service and may also only have unlicensed employees tending to most of the details. It is important for you as a home seller to fully understand the difference between „discount real estate brokers“.

Many realtors who promote themselves in this way; fit a profile commonly associated with less than full real estate services. They usually solicit your listing for a very low fee that is paid upfront online before you ever meet anyone face to face if ever at all. This type of flat fee MLS listing only covers very little of the traditional realtor services. In general you are basically paying for someone to post your home for sale in your local MLS and will be on your own when handling all the other tasks required to protect your interest during the multi-level process of selling a home.

You may realize although $300-$500 flat rate listing fee appears to save you money; you end up feeling overcharged when the listing expires and your home has not sold. All realtors are regulated by a board of realtors in their specific area and pay yearly dues that cover being able to post listings on the local MLS. It doesn’t cost them an extra dime for their listings to post in the national MLS platforms; like Realtor.com, Trulia and Zillow. Listings are automatically fed to the national internet platforms within 24 hours of the agent submitting it to their local MLS. These large internet or locally based companies may even go as far as to provide you with a sign and a lock box; but for the most part your small fee covers only this minimal amount of service. In the long run even a little more than a few hundred dollars may appear to be costly when you realize it really takes full service and not just an MLS listing to successfully sell your home.

For instance the viewing of your home needs to be handled by a reputable company with a professional scheduling service so anyone desiring to get into your home is not only monitored to assure a safe showing of your property, but there follow up for necessary feedback. You may have to do the screening work yourself as well as handle all the tough negotiations, proper legal paper work and more.

These are just some of the very things that can be a bit at best tricky for someone with no home selling experience and would require more personal attention by a seasoned licensed broker. There are many reasons you want a real estate professional providing full service for a low flat fee; unless you are a seasoned For Sale by Owner (FSBO); it is strongly suggested you stay away from discount real estate brokers offering a limited service that pretty much places you in that same position.

In some states flat rate MLS listings with limited service is prohibited by law. In Colorado when a real estate broker enters into a listing transaction with a seller; they must provide full service. Despite this regulation there are brokers doing business in this manner. You might have to ask yourself why you would want to entrust your hard earned equity to someone who is not willing to follow the regulations of the very license they hold?

There are lots of what appears to be great deals in terms of what you are asked to pay to sell your home; but paying less does not necessarily guarantee you keep more of your equity or never mind reach your goal of a successful sale.

Then there are those licensed professional realtors with years of experience who also promote themselves as discount real estate brokers; because they willing to take less so you can keep more. They too offer a flat fee listing; yet there is nothing discounted when it comes to the full traditional real estate services they provide. They understand you do not have to compromise by giving up the kind of real estate service you truly need just to save a buck.

These discount real estate agents are educating the public about how and why flat fee listing fees and rates originated; and how you can save thousands and still get full services. They offer to do all the work for less money simply because they know their work load has diminished due to modern day technology. Technology saves them a ton of work related costs and are willing to pass that savings onto you.

Flat fee or flat rate listings, discount real estate agents are a direct result of this convenience providing technology that has revolutionized how everyone can sell or even buy a home. Sellers, buyers and especially real estate agents have benefitted from modern technology that combines the availability of multiple digital devices and platforms to quickly access the internet and those they are doing business with, making connecting and communication faster and easier than it was in the past.

Real estate agents simply no longer have to invest the same amount of time as they had to in the past to sell a home. What use to take an agent days to accomplish; like hand delivering offers and communicating counter offer negotiations use to involve weeks; not to mention the hard costs before a meeting of the minds was achieved in order place a home under contract. This type of activity is now accomplished in hours or days without anyone having to leave the comfort of their home.

It is best for you to investigate which discount real estate brokers are the pros who save you thousands while providing full service and which ones don’t. Choose your discount real estate broker, flat fee listing agent or flat rate company wisely; don’t be baited in by a small fee in order to get your home sold.

Copyright 2015

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Carol Vizzi

Characteristics of a Great Realtor

Wanting to sell your property may also indicate that you need cash immediately, thus selling your estate requires a great realtor to get the deal done in no time. So here are some characteristics of a great realtor that you ought to find

  • In control – A true realtor knows what he’s doing and is proactive and can adjust to any situation.
  • Dedicated to their job – be it day or night he would still take phone calls and look up properties
  • Unbiased they don’t make any prejudgment to what the buyer can or can not afford
  • Honest to what they sell. They don’t just sell to make money but they market properties for the benefit of both the home seller and the buyer
  • Hospitable – they know how to treat customers gleefully
  • Organized – They keep meeting minutes, they keep records of essential information from their conversations with the prospects to protect themselves against the inevitable.
  • Patient – they don’t complain even when it’s getting dark outside and their client wants to see, the first home they have shown, again.
  • Straightforward – Ask them with direct questions and you’ll get direct answers
  • Keen observer – They take time understanding their clients‘ needs, culture and buying habits
  • Good listener – They don’t just hear what their clients have to say but they feel them and do necessary actions to meet their clients‘ needs.

What realtors expect from their clients?

Honesty – Seeking the help of real estate experts would really be very beneficial on the part of both seller and buyer. But while they assist clients in the contracts and lending process, all they require from them is honesty. Hiring a realtor will be of no use if sellers would mistakenly deal with a person who is financially incapable to buy a real estate. Clients should realize that they don’t produce money if they pretend that they’re qualified for a mortgage even when they’re really not.

Cooperation and Punctuality – Clients need to be punctual. Realtors don’t work for free and they’re not only working for you, there are also many important clients that require their quality time during work days. Business means money, so the more deals you close the more money you make – that makes every minute absolutely important especially for realtors. Therefore be considerate to other people’s golden time and don’t delay any appointment with a realtor or make lie when you’re late – that will only lose realtors‘ interest to help you out.

A home with the right price tag is faster to sell. For sellers, do not overprice! For buyers, stop asking for too much discount! Period. And one more thing, buyers should know how much their budget is, if all you can afford is up to $100K, then there is where the search begins, refrain from insisting to realtors that you want to see homes starting at $300,000 „just to look“. There are many sites on the internet today that offer you to see MLS listing of properties for free and no hassle, so before you make an appointment with a real estate agent, make sure you know what you’re looking for or else stop complaining to realtors that they don’t know what they’re doing.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Dalia R Maggay

Finding a House For Sale – Top Tips For Buyers

If you are looking for a house for sale in Christchurch, NZ there are several factors to consider. We’ve got some top tips for purchasing property in Canterbury, NZ.

1. Even though it’s a relatively small city, population wise, Christchurch is full of open suburbs with plenty of space and diversity that meets the needs of a range of purchasers. You can select anything from a beach front property, to one in the Port Hills, a central city pad, or a large house in the suburbs. Each suburb of Christchurch has a different feel, and it’s important to find a part of it that fits you and your personality as well as your housing needs.

2. Consider your garden needs. One thing Canterbury residents love is their gardens. Some newer areas have covenants so that gardens are kept to a specific standard. It’s important to find a place that matches the exterior maintenance of your lifestyle. Cottage gardens can look gorgeous, but may take some dedication, whereas native grasses and shrubs can look clean and clear and be low maintenance. It all depends on your lifestyle.

3. Schooling requirements are also an important factor. Many of the popular schools have zoning requirements and moving into a particular area can ensure your child/children have a better change of access to that school, but this often means you pay more of a premium. For parents of children who will attend a private school this may not be so much of an issue. The school culture is considered an important part of family life in Canterbury. Selecting a school in some of the outer suburbs often means your child can go to a smaller school, with a lovely family atmosphere.

4. Sporting and outdoor pursuits are another factor. Most sports are within an easy driving distance, but being situated near a golf course, a surf beach, or near biking tracks can be of benefit for the extra keen sports lover.

If you want a home that’s got all of the benefits of city living, with an outdoors lifestyle at your door, then buying a home in the Lyttleton Harbour and Bay areas can be a good option. The properties in these areas offer an easy commute to the central city if necessary, or you can work closer to home.

As you start looking for houses for sale in Christchurch, NZ, be sure to consider these above buying tips as part of your house buying process.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Min Sarginson

The Secret of Greenville

South Carolina is the new up and coming real estate secret. Prices have been steady here, in spite of a national dropping of realty sales and house prices. The Upstate is the fastest growing region in the state and positioned as it is, between Charlotte and Atlanta, its future development and growth prospects are said to be bright.

The largest city in the Upstate is Greenville, a beautiful town to call your own, and awarded the ‚Great American Main Street Award‘ in 2003. Greenville builders have been anticipating the growth curve and there are currently around 1500 brand new and sparkling homes for sale in this delightful town.The largest number for sale is in the price range spanning from $150,000 – $300.000.

There are also more than 1300 existing condos in the downtown area – a very scenic and appealing downtown with natural waterfalls.

The average price for a brand new home in the Greenville area is running at $300,000, although if you are interested there are several homes running all the way up to $2.2 million. The homes in the $300,000 price ranges will often have the luxury of finished exteriors in brick or stone and many of the builders will also build your custom design home for you.

This luxury is also found inside as well with expensive interior finishes that include crown molding, glamour style master baths, media rooms and stylish light fixtures with ceiling fan. Kitchens are bang up to date with stainless steel appliances, granite or top quality counter tops and your choice of the latest colors in paint.

Many of the builders are eager to reduce their inventory and are offering some great incentives. The majority of new homes are spread all over the Greenville, S.C. area.This area includes all of Greenville County, and Parts of Anderson, Pickens, Spartanburg and Laurens Counties. There are concentrations of homes in Simpsonville (364) Greer (190) Greenville (190) Taylors (87) and Easley (85)

For golf fanatics you can even buy your new home on a golf course! There are over 50 golf courses here: one for every week (plus a short holiday!) The climate runs from 32 in January to 88 in July. There are also traditional homes, estate homes and patio homes for sale here in Greenville.

Following BMW, several German companies are based here; in fact over 245 companies from 20 countries call this place home. Needless to say employment figures are good and the Expansion Management Magazine has listed Greenville as one of „America’s Top 50 Hottest Cities“.

However, this city has peaceful areas too, and was voted by Bike Magazine as in their top 5 „Best Places To Live and Ride“.

So Greenville is not such a secret, after all?

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Eddy Kicker

Huge Profits From Short Sales – Fantastic Pre-Foreclosure Tool For Savvy Investors

Louisville realtors, investors and debtors facing foreclosure ask me from time to time how short sales work. Consider this a primer.

I recently brokered the sale of a house for $85,000 to an investor. The house appraised for $120,000, giving the investor substantial immediate equity. The lender took a $60,000 loss. The owner/seller was forced to sell his house, for which he received not one red cent, and had to move into rental. How is it that all parties walked away from the closing table satisfied?!

In the beginning…

When a home owner owes his lender more than he has borrowed, he’s said to be „upside down on his mortgage“. This can come about in many ways, the principal amongst them occurring when he simply stops making mortgage payments, often because he is in serious financial difficulty. If his mortgage payment is $1,000 per month, and he stops paying, or pays intermittently, the fines, interest and principle can rack up pretty quickly. And if the owner can’t pay the mortgage, chances are he hasn’t been able to make necessary repairs to his home. This situation is almost invariably accompanied by despondency, which again leads to neglect of the house.

Stir into the mix bankruptcy, and perhaps divorce, and you’ll understand it’s not surprising to find the homes of these owner/debtors are often seriously degradated. That leaky roof is probably the last of the owner’s problems.

The „F“ word

Foreclosure. It’s not a happy prospect for the lender or the borrower. Lenders have different tolerances for late payments. However by the time the debtor is late for the fourth consecutive month the vast majority of lenders begin foreclosure proceedings. In Kentucky the foreclosure sale of the home by public auction takes generally anywhere from 6 months to a year from the time the foreclosure procedures began. It can take longer – I saw one artful debtor drag on the foreclosure proceedings for more that 20 months! Her mortgage payment was $1,300 a month. After 20 months that became a significant debt compounded by late fees, interest, legal costs, and the potential cost of selling the property at a public foreclosure sale. To say nothing of the continuing, moment by moment deterioration of the property. By the time she moved out the bank had written off in excess of $80,000.

The lender’s and borrower’s conflicting interests

Capitalism is a wonderfully contrived system. It hands not only the power-barons a potent array of weapons with which to fight, but also the poor and destitute. Though the battlefield is nowhere near even, double digit interest thrust too deeply down an indigent debtor’s throat may precipitate his „nuclear“ retaliatory option – Chapter 7 bankruptcy. And so these two, symbiotically entwined, are locked in an elegant dance, teetering between dividends and disaster, profit and poverty. One serious mis-step, and the band stops playing.

Thus, from years of bitter experience, lenders have learned that it’s often better (cheaper) to attempt to gain the cooperation of the owner and have him agree to voluntarily sell and vacate his home, rather than evict him under foreclosure. Lenders also understand that the chance of ever recovering the money owed to them by the debtor is slim. But many debtors choose not to sell because, around the time they realize they will never catch up on their payments, they often have another „Ah Ha!“ flash of insight: that if they stop paying their mortgage and just wait for the foreclosure axe to fall (or better yet, engage in a hatfull of tricks to keep that axe at bay) they can live „rent free“ for at least 6 months. So now the debtor turns from borrower to squatter, perceiving it to be in his best interest to prevent the foreclosure for as long as possible. And if the house, the lender’s „security“, should fall apart in the meantime, so be it.

The solution

The lender is in a position to offer the borrower a very important concession for his cooperation: to write off the entire debt if the borrower finds a buyer to buy the house at a price and terms acceptable to the lender, within the time stipulated by the lender. This is the essence of a short sale. Lenders set their own guidelines for what they will accept. They may say they need to get fair market price, but will in fact often be prepared to sell for much less. They do not want to chance selling this house at auction and risk receiving a very low price. Or worse yet, receive a bid so low that the property does not meet their reserve price, and they end up owning the property. In this case the property is administered by the lender’s REO (real estate owned) department, which will then list the property with a realtor. And the cycle begins again……

The Lender initially said The Willows house was worth $120,000, and wanted it sold at about that price. It got the $120,000 figure from someone it had hired to do a BPO. BPO is short for „Broker’s Price Opinion.“ It is similar to a CMA (Comparative Market Analysis) and serves the same purpose: to arrive at a fair market value for a property. Most are done as a „drive-by,“ meaning that the „driver“ (usually a realtor, maybe an appraiser) drives by the outside of the property, takes one to three photos and leaves. He then completes the lender’s BPO form on-line and e-mails it with the picture. Sometimes an „internal“ is requested, in which case the realtor goes into the property, takes about 3 internal and 3 external photos and sends these through to the lender with the completed BPO form.

When the debtor had realized he would not be able to save his house in The Willows, he contacted me to see if I could help. He did not want a foreclosure on his credit report, which would have prevented him from getting a conventional mortgage for three years. Even with a Chapter 7 bankruptcy, the wait period is only 2 years from dismissal. He also wanted to have his debt forgiven. I was able to accomplish both these goals, saving him about sixty thousand dollars.

The short sale process

As a Realtor, the first thing I did was explain to my client all his theoretical options, including deed in-lieu of foreclosure, loan renegotiation and others. He settled on short sale. I listed The Willows property, and had him sign an authorization for me to contact the lender to see if it would agree to a short sale. Remember, when I list the property, the owner/debtor is my client (not customer). This means I must always act in his best interest. The lender is not my client and I owe it no such duty. In a normal sale the seller and buyer have greatly divergent interests: the seller wants to sell at the highest possible price, and the buyer wants to buy at the lowest. In a short sale there is no such contest between the parties: the seller wants to sell at any price the lender will accept, and will generally agree to any price offered, contingent upon the lender’s acceptance. So in a short sale, the lender takes on the mantle of „seller“ vis-a-vi the buyer and these are really the parties who negotiate the contract. Now get your head around this one: as listing agent in a short sale I am often in the peculiar position of actively attempting to negotiate for the sale at the lowest possible price acceptable to the buyer! (But always with the caveat that this is in the seller’s best interest, and does not jeopardize the sale). This anomaly has many ramifications for the way I conduct and negotiate these transactions.

Price, Terms and Timing

Price: So how much will the lender lop off that price? I’ve generally found that as the day of auction approaches, lenders become more malleable. Pretty inefficient, because they loose a lot of time and money that way. I supplied the lender of The Willows property with objective material indicating that the drive-by BPO was inaccurate, given the condition of the house. The lender then had an internal BPO done. That was key to getting this particular deal done. I also sent off photos and comps of my own. In some cases I’ve sent the lenders well over 100 photos. Pictures speak louder than words, and it’s critical, when the property is damaged, that the lender understand the shape it’s in. Remember – the BPO realtor may be doing up to 50 BPOs a week – he could care less about this one deal. But as listing agent I need to keep the lender informed of all issues that coincide with my client’s best interests. The second Willows BPO came back at $100,000, and the lender initially tried to obtain that figure. Ultimately, with the foreclosure sale due to occur the next day, it reduced that amount to 80% of the $100,000 plus $5,000 to pay off non-mortgage related liens. At 4.50 pm the lender agreed to stop the foreclosure sale scheduled for 11.00 am next morning.

But hey, it ain’t over ‚til the fat lady sings! Because the loss on this loan was $60,000, and because the lender had authority to settle up to $30,000 only, we had to wait for final word from the mortgage insurance company, which we eventually obtained, but not without many hours additional work.

As you see, the price of The Willows property was determined by the lender looking at the bottom line – how much net it would receive. And in order to get this number, all lenders in short sales request a „fake HUD-1“ or a „net sheet“ submitted simultaneously with the offer. In a normal real estate transaction the HUD-1 is drawn up at the end of the transaction, after agreement is reached. – in a short sale the title search is performed immediately upon listing, even before there’s an offer, so that the figures can be applied to the net sheet as soon as needed.

Terms: The most common terms distinguishing these deals are that the lender often requires terms such as „sold as is“ and „proof of finance or funds required with offer“, and to protect the seller, the realtor should insert terminology indicating seller’s acceptance is subject to release from all liability for debt. None of this is carved in stone, and I’ve negotiated repairs and other concessions from lenders. Each case is unique. Paper will suffer any indignity – write the offer!

Timing: The REO, Foreclosure and Bankruptcy departments often appear to be understaffed and overwhelmed, so don’t expect instant responses. Some will take weeks to reply. Make sure the buyer and seller understand this. But once a deal is struck, the lender will often expect an unreasonably quick closing, and will attempt to penalize you with days interest for closing after a certain date. This all goes back to the net sheet calculations; because you have informed the lender how much it will receive by a certain date, it then attempts to hold the line at that date, even though they are generally very slow to respond. The Willows lender, after having not responded to multiple contacts, gave us just 2 days within which to close! Fortunately we well prepared, but it was very close.

Closing Note

The tax consequences of short sales fall outside the scope of this article. If you want info on how to handle competing offers, dual limited agency within this environment, or need a copy of the net sheet I use, you may contact me.

Update

Here’s a new twist. A couple of weeks ago I submitted a $235,000 offer to a lender on a short sale, (Seller owes about $275,000) which the lender ultimately accepted. However, in it’s acceptance letter, at the very bottom of the sheet, the lender stipulated that it retained its right of recourse against the seller/borrower (my client)! And this despite seemingly contrary language in the main body of the letter. I explained to the lender that the ONLY reason my client had agreed to the short sale (and not to jerk the lender around in the bankruptcy proceedings) was because he expected to obtain a complete release from all liability at closing. After a weeks or so of wrangling, attorneys etc, the lender „saw the light“ and agreed to the release.

CMA

Though the information provided is considered reliable, it is not complete, nor warranted accurate. Always consult your broker or an attorney.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Neil Blumberg

Finding The Right Estate Agent

Estate Agent Services

Finding the right Estate Agent services that can assist you when you are either buying or selling a home is very important. In fact, this decision and who you choose to work with will determine whether your buying or selling experience is a positive or a negative one. There are many agents out in the market right now, but very few of them are experienced enough to deal with both the buying and the selling aspect in a proficient manner that creates a smooth experience for both the buyer and seller. In this article we will go over a few tips on how to choose the right Estate Agent Services when you are buying or selling a home.

When You Are Buying a Home

When you are buying a home, it is important to make sure that your money is well spent. This means making sure that the property that you are investing in will appreciate in value and not lose its value soon after you buy it. In order to prevent this, when you choose an agent to work with, it is important they know how to conduct market research correctly and that they are familiar with the area(s) that you are interested in.

When you are purchasing a home, your agent will need to make sure that all structural surveys are done by reputable parties. This means any and all inspections on the home in question will need to be performed to 100% accurately. Does the home have termite damage? Has it been rebuilt due to structural inconsistencies in the last 10 years? Has the roof been replaced? All of these questions and more will need to be addressed when are considering buying a home and the right Estate Agent services can help you. And finally, a real estate agent should help you negotiate a price and be well versed in the true value of the home that you are considering buying.

When You Are Selling a Home

When you are selling a home, finding the right Estate Agent Services is important for many reasons. First, you always want to find an agent that is considerate of your time as well as polite to both you and your prospects. This means not showing up at your house unannounced and at times that are not convenient for you. A talented agent will also be able to effectively communicate with both you and your prospects and sell your home as fast as possible. All too often, agents merely „show“ a piece of property rather than „sell“ it. When you are selling your home, this process can go very smoothly or it can be a disaster, depending on whom you are working with. Saying this, be sure that the agent you choose to work with has good references in order to prevent an unfavorable experience.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by James L Parker

Is Your Real Estate Agent Responsible?

As a realtor in a very active market I often think that I have seen it all when suddenly another situation arises that literally takes me by surprise. After ten years in the business and handling seven to twelve million dollars worth of property each year you would think nothing could surprise me anymore. I was wrong.

You may wonder how much responsibility does your real estate agent bear in a transaction. To figure it out you should take consideration to what your agent could possibly know about the transaction. Do they own the home you are buying? Most likely they do not own the home so are they expected to know everything or even anything about the integrity of the home or how it was built? How could they know this information? They may know a builders reputation and can advise you according to the information they may know about the builder but every builder can easily have built a lemon. Just like any car, you could be buying one that is less than perfect.

Understand up front that your realtor is showing you many homes and there is no way that they can represent the integrity of the home. I literally sold a home that was a short sale fifteen months ago which was a short sale and the buyer agreed to buy the home in its current condition. Naturally, they were advised to have a full inspection and they complied. There were issues on the inspection that they knew about but accepted the home knowing the items that needed to be repaired.

The purchase went through with my representation on all the necessary paperwork and everything handled professionally all the way until the end of a long short sale process. The realtors responsibility is to be sure that buyer and seller come together to an agreed purchase amount, inspections are advised and done, all legal paperwork is done correctly and all parties are happy with the transaction. This was the case in this particular sale.

As the realtor, I understood my clients were thrilled with their new home and they were in the process of making some changes to the home to make it their own. All seemed to be great as far as everyone was concerned.

After fifteen months later I receive an email that the buyers wife was very upset with some things with the home. She literally accused me of selling her a lemon of a home and that I should lose my license and be sued. I was in shock, I never heard anything from them beside how happy they were with this gorgeous home. I knew that I had done everything honestly, with care and integrity so I began to investigate. Apparently, the one buyer was unhappy with things after the fact, contractors installing new flooring which has nothing to do with the sale of the home or my representation. The accusations were so unfound in fact, the other spouse did not know of these accusations and was appalled by the other spouse and their unfounded accusations and deeply apologized to me. The home apparently had a couple minor issues but nothing to make it a bad purchase.

Understand, that your realtor cannot possibly know every home they are assisting you with a purchase or even know the history of a home they are selling. We are here to do our job bringing buyers and sellers together and making sure all steps are taken to make it a good fair deal and paperwork, inspections, closing and disclosures are all in good order.

Read your paperwork, you are signing releases against your agent and broker on the integrity or building codes as well as various other things to do with the home. They do not represent the home itself, they represent you. Like anything that you purchase, you do not blame the salesperson if the product has problems after you begin using it, it is the manufacturer that is responsible for the item.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Nancy Niblett

Things To Think About When Buying A Home

Buying a home usually is a major step in a person or family’s life but that doesn’t mean that you have to make a major mistake by doing it. You can walk into a real estate agent’s office and they can promise you the world, and some can probably give it to you for the right price. Some realtors are there for your money and nothing else but you must know that all realtors are not like that. Many actually have your best interest in mind. Make sure that you know your budget and what you can truly afford and you do not go over that amount no matter what. It is not hard, that is, unless you make it that way.

Before you start your home buying adventure, you want to make sure that you review all of your monthly expenses, your income which includes whatever you have stashed away in savings and then decide on what you have left over. Be realistic. Do not leave out necessities. If you do not have any savings, or if you have trouble getting a mortgage loan, then try finding a close friend or family member that can help you with co-signing the mortgage agreement.

If you have decided on a home and you have been approved for a certain amount, then your next step is finding your perfect home in the right place. Usually a good agent can get you started right away once they have gathered enough information from you to know exactly what you are looking for. You want to pick a location that has a great school district, one that has an increasing value when it comes to the housing market and one that is low in crime statistics. Next, you should hire a home inspector to inspect the home before signing on the dotted line. This is really a good idea because the home inspector could find defects in the home that could save you thousands of dollars in repairs.

The overall final issues when buying a home takes place when you are closing the deal. This happens when the money is finalized and paid and the title is transferred from the person selling the house to the person buying the house. Be prepared to sign a lot of paperwork. In some states, attorneys attached to the mortgage lender a person called a title agent who will handle all of these issues for you. They are there to protect your interests and those of the seller.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Danny Wright

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