WHAT TO LOOK FOR IN AN AGENT
When selecting a listing agent, consider the following factors:
1. Education: A crucial factor is the agent's education in the real estate industry. Our professionals possess advanced training and education, earning prestigious designations in various real estate fields, positioning them among the top agents globally.
2. Experience and Expertise: Look for a full-time agent with experience in your area and property type. Do they utilize diverse marketing strategies? How tech-savvy are they? Review their track record of selling similar properties.
3. Availability and Commitment: Your agent should be accessible and responsive throughout the selling process. Do they maintain regular communication? Can they be reached easily for questions or emergencies, even on weekends or evenings when buyers are active?
4. Rapport: Does the agent take the time to understand your goals and needs? Are they genuinely invested in your outcome? Your listing agent will be your partner in this significant decision, so finding someone with whom you can establish rapport is essential.
PROPERTY REPAIRS
Implementing straightforward upgrades like repairing windows, polishing door knobs, and applying a fresh coat of paint to frequently used rooms can swiftly enhance the appearance of the property, creating a brighter and more inviting atmosphere.
DISCLOSURES AND INSPECTIONS
We are well-versed in the legal protocols surrounding disclosures and are prepared to assist you in crafting a comprehensive disclosure statement that benefits both you and the buyer. Additionally, we can recommend home improvement measures, such as termite and pest inspections, to address any potential issues before listing your property on the market.
Presenting your property to potential buyers is a task we will handle on your behalf. Buyers often feel more at ease discussing the property with the agent when the seller is not present. Additionally, your agent is adept at providing the most pertinent information to represent your interests effectively when engaging with prospective buyers.
NEGOTIATING THE RIGHT WAY
We approach the ethical responsibility of negotiating contractual terms with utmost seriousness. Our goal is to facilitate a win-win agreement that benefits all parties involved. You may encounter multiple offers before selecting the most suitable one for you, and as your agents, we are committed to providing a comprehensive and unbiased assessment of each offer to assist you in making an informed decision.
An effective agreement serves as a legally binding arrangement between a potential purchaser and the property's seller. While specific laws may vary by state, such agreements typically necessitate consideration. This consideration, which includes the initial and additional deposits, is held in the closing agent's escrow account until the fulfillment of conditions or contingencies outlined in the agreement.
To further streamline the process, consider these important tips:
1. Maintain Written Records: It's crucial to document all aspects of the transaction. Transcribing verbal agreements, counter-offers, and addendums into written agreements signed by both parties is highly beneficial for clarity. Our team will assist you in drafting all necessary paperwork and ensure you have copies for your records.
2. Adhere to the Schedule: Upon selecting an offer, both you and the buyer will be provided with a timeline to mark each stage in the contract closing process. Meeting these requirements promptly facilitates smoother negotiations and ensures compliance with agreements. Throughout this process, we'll provide regular updates to keep you informed and prepared for the next steps.
Following the terms outlined in the effective contract to purchase, most buyers will arrange for a licensed property inspector to assess the property within the agreed-upon timeframe. Some buyers may enlist multiple inspectors specializing in various areas such as roofing, HVAC, or structural integrity, seeking diverse professional opinions.
If the agreement is contingent upon financing, the property will undergo an appraisal by a licensed appraiser. This appraisal, conducted by a third party, aims to determine the property's value for the lending institution, ensuring the accuracy of their investment.
In the case of commercial properties, buyers may also commission a comprehensive environmental audit and/or soil test as required by the lending institution. These measures serve to safeguard the interests of all parties involved in the transaction.
THE CLOSING AGENT
A closing agent, typically a title company or attorney, is appointed to oversee the process of examining and ensuring clear title to real estate. Their responsibilities include conducting thorough research into the recorded history of your property. Ultimately, they certify two critical aspects:
1. Your title is free and clear of any encumbrances, such as mortgages, leases, restrictions, or liens, by the closing date.
2. Any new encumbrances are appropriately included in the title.
By fulfilling these duties, the closing agent ensures a smooth and legally sound closing process for all parties involved.
A contingency represents a condition that must be fulfilled before a contract becomes legally binding. For example, a buyer commonly includes a contingency stipulating that their contract is binding only upon receiving a satisfactory home inspection report from a qualified inspector.
Prior to finalizing the purchase of your property, the buyer thoroughly evaluates every aspect of the property as outlined in the purchase agreements and any relevant addendums. These may encompass:
- Securing financing and insurance.
- Reviewing pertinent documents, such as preliminary title reports and disclosure documents.
- Conducting property inspections. The buyer has the right to assess the condition of your property through various inspections, including roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead-based paint, HVAC, etc.
Following these inspections, one of two outcomes may occur:
1. Each milestone is successfully met, leading to the removal of contingencies and bringing the transaction closer to closing.
2. The buyer, after reviewing the property and documents, requests a renegotiation of the contract terms, typically involving the price.
How should you respond objectively and fairly to the buyer's renegotiation demands while safeguarding your interests? This is where a professional listing agent can significantly impact the transaction's outcome. With experience in various property sales, we assure our expertise and unwavering commitment to every customer, regardless of their circumstances.
LOAN APPROVAL AND APPRAISAL
It is advisable to prioritize buyers who possess a lender's pre-approval, approval letter, or written loan commitment. These documents offer a stronger assurance of loan approval compared to a pre-qualification or no documentation from a lending institution. Additionally, anticipate an appraiser from the lender's company to assess your property and confirm that the sales price is justified.
BE PREPARED
In the event of an unexpected issue arising, even at this final stage, rest assured we are here to assist. Whether a breakdown occurs at the property or if the buyers' loan faces delays, there's no need for concern. With our experience in handling such challenges efficiently and stress-free, we'll navigate any obstacles that may arise.
The final walk-through inspection, often more of a formality, occurs either the day before or on the day of the closing. During this visit, the buyer ensures that everything is in proper working order, the property remains consistent with their last viewing, and there are no additional items left behind.
CLOSING DAY
If you've reached this stage, congratulations are nearly in order, but there are still some loose ends to tie up.
