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The Pitfalls Of Selling Your Home Without A Realtor
or those individuals who preferences and timelines for the
use realtors to buy or sell sale.
a home, the transaction o Realtor does a walk-through of
looks fairly seamless. It goes the property, suggesting things
something like this: that should be done before
listing the property.
• Buyers: o Sellers make the repairs or
renovations.
o Contact a realtor, who elicits o The realtor lists the property.
from them what type of property o The realtor, as well as other
they wish to purchase. realtors, shows the property to
o The realtor shows them several potential buyers until an offer
properties, until they make an is made and accepted.
offer on one and it is accepted. o Inspectors and appraisers show
o They go with the realtor to the up, then leave to make their
mortgage lender, that the realtor reports, and the realtor gives
may have lined up for them and the results to the sellers and
set the appointment. The buyers buyers’ agent.
provide any information the o Once the realtor tells them
lender needs and signs the everything is complete, the
appropriate paperwork. sellers move out before the
o The buyers and realtor meet at closing.
the closing to sign all the o Sellers and realtor meet at the
papers, get the keys, and go to closing to sign all the papers,
their new home. sellers and realtor receive their
checks, and they hand over the
• Sellers: keys to the property.
o Contact a realtor, who discuss This is very simplistic; yet when
with them their pricing a realtor is handling your buying
or selling needs, this is pretty Realtors market your home to a
much how it appears. broad base of interested buyers
and other realtors, show your
Of the homes sold across the home or coordinate with you for
nation, 20 percent are sold by other realtors to show it,
the owners, without a realtor. negotiate offers, and close the
Surveys show that the primary sale. They even coordinate the
reason is money; the sellers wish timing of the sale, when you are
to save the cost of a realtor’s buying other property that is
commission, which usually ranges dependent upon the sale of your
between five and seven percent of home.
the purchase price of the home.
Unfortunately, many of these For buyers, realtors first help
owners end up regretting their you to determine just how much
decisions, because it costs them you can afford to pay for a home
that five-to-seven percent or — it is generally more than most
more due to unexpected pitfalls people believe. They then weed
in the sale. through the myriad of homes that
are on the market, matching
First, there is a lot involved in potential homes to your purchase
the sale of a home. Realtors specifications. They arrange to
assist with the before-listing show the homes to you, assisting
preparation; help you set a in what to look for, what
starting and deal-killer selling questions to ask, and
price (the price level you will after-showing discussions with
not accept); setup and hold open you on possible problems or good
houses; set up and coordinate all points of the home. Realtors
home inspections and appraisals; assist you in making an
and set up and coordinate a real appropriate offer. They do all of
estate attorney and the closing. the negotiations for you,
representing your best interests buyer or seller, know what to
— especially important when a avoid in real estate and during
seller has a professional negotiations, and know what is/is
representing them. Once your not covered by the home warranty
offer is accepted, the realtor of the sale. They also ensure
may even suggest mortgage lenders that all compliance and
and accompany you to your first disclosure issues are dealt with
meeting. Your realtor then works properly, making sure that
with the seller’s representative nothing is overlooked that could
to ensure all inspections, cause you a legal problem in the
appraisals, title searches, and future.
permitting is properly completed,
negotiating for you resolutions Most importantly, a realtor
to any bad inspections. Again, maintains objectivity during an
working with the seller’s event that can be emotional for
representative, the realtor both buyers and sellers. Your
coordinates a real estate realtor remains objective during
attorney for you, as well as the negotiations, executing the best
closing. deal possible for you.
Realtors know the right questions To avoid the pitfalls of selling
to ask — it is their job as or buying property, use a
professionals to keep abreast of realtor, who may save you a lot
the real estate market for their of money in the long run.
area. They handle any problems
that arise, protect you as the
About the Author:
John Harris is a staff writer for Schools K-12, providing free, in-depth reports on all U.S. public and private K-12 schools. For more information please visit San Diego Realtor
Read more articles by: J Harris
Article Source: www.iSnare.com |
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