|
A Must Read For
Home Buyers and Sellers! /
Real Estate
Agent facts:
Overpriced Home
Ignites Lawsuit Against Agent From Remax
Finding
a
good
real
estate
agent
/
broker
is
essential
to
enjoying
a
painless
real
estate
transaction.
The
saying
is
"20%
of
the
agents
do
80%
of
the
business,"
and
it
is
true.
The
question
is
how
can
you
find
a
good
real
estate
agent?
The
best
agent
for
you
doesn't
necessarily
work
at
the
largest
brokerage
firm,
close
the
most
transactions
or
make
the
most
money.
The
best
agent
for
you
is
an
experienced
professional
who
will
listen
to
you,
conduct
herself/himself
in
an
ethical
manner
and
knows
your
market.
When
buying a
home
please
make
sure you
read the
Code of
Ethics,
for Real
Estate
Agents.
Not all
, but
some
Real
Estate
Agents
do not
understand
the law
or just
ignore
the
Code of
Ethics.
The home
buyer or
seller
is
paying
for this
service
which
comes at
a high
price.
There
are many
ways to
rate the
Agent
you are
working
with.
For
example,
if you
are a
buyer
and keep
seeing
the same
Real
Estate
firm
yard
sign it
is
obvious
your
Agent is
exclusively
showing
you
listings
in which
their
office
are the
listing
brokerage
firm
this is
another
form of
steering. What
is
steering?
Steering
is the
illegal
practice
of
directing
minority
members
to or
away
from
certain
neighborhoods.
In this
case,
taking a
client
and
showing
them
only
listings
from
their
own
office
in hopes
you will
like one
of them
is the
same
principle.
Some
Agents
may show
other
firms
listings
when
they see
that
they are
loosing
a
client.
These
Real
Estate
Agents
usually
select
which
home
listing
to show
the
buyer,
So
buyers
do go
around
on your
own and
see what
homes
are
being
sold and
request
to see
them. If
your
Real
Estate
Agent
deters
you from
seeing
the
listing
you
requested
to see
you may
want to
change
agents
at this
point.
When
dealing
with an
Agent
that is
highly
opinionated
about a
home or
builder,
Buyer
beware!
This is
an agent
you
would be
best to
stay
away.
This is
an Agent
trying
to sell
you on
their
clientele
base.
Buyers beware
of the
few Real
Estate
brokers
and
agents
who are
not only
in the
business
of
selling
real
estate
but think
they
know how
to build
homes by
hiring
different
contractors
to build
these
homes in
order to
flip
them
providing
no real
benefits
to their
owners.
Buyers
always
ask who
built
the
house
the Real
Estate
professional
is showing
you.
Remember,
if you
think
you
are buying
a
bargain
you may
be
buying a
low
quality
construction home
and you
may end
up
paying
more in
the long
run. Ask
yourself
"If the
home is
being
sold as
a
quality
home
why is
the
owner
willing
to take
less for
what the
listing price
is?"
Quite
simply
because
there is
no
quality
involved.
Agents
are
professionals
that
show you
"the
buyer"
all
listings
with the
criteria
you are
looking
for and
you as
the
buyer
select
the best
possible
home
that
fits
your
lifestyle
and the
best
purchase
for your
money. A
true
professional
will be
bias and
let you
be the
one
selecting
your
true
dream
home.
Keep in
mind
when
buying a
new home
from a
builder
a Real
Estate
Agent
will not
verify
the true
heating/cooling
square
footage.
But your
eyes do
not lie,
if it
does not
look
like the
square
footage
advertised
then it
most not
be the
size and
when in
doubt
request
adequate
information
on the
dimensions
being
stated.
Sellers
how do
you know
you have
a
professional
Real
Estate
Agent or
not just
one
looking
for your
listing?
When
looking
for the
right
brokerage
firm and
an agent
to
represent
your
property
do not
be
deceived
by their
overly
enthusiasm
of your
listing.
This is
an
evident
sign
that
they are
eager to
acquire
the
listing
with
really
no
intentions
to
provide
a true
service.
Verbal
promises
are
sometimes
hard to
materialize.
So
Sellers
get your
promises
in
writing
and do
check up
on those
promises
from
time to
time.
Do not
be
intimidated
by the
Real
Estate
Agent by
demanding
for the
service
your are
paying
for.
Sellers
price
your
property
right
within
the
market
area. Do
not
slash
your
home
price
everytime your
Agent
tells
you to
lower
your
price
because
of
square
footage
pricing.
Buyers
buy
homes
for
the amenities
a home
has not
the
square
footage
price
alone.
The
cheaper
you
price
your
home the
easier
and less
effort
you
Agent
has to
do to
sell
your
property.
A professional
Real
Estate
Agent
will
highlight
the
features
of your
home
compared
to
others
in the
market
area.
There
are
truly
professional
Real
Estate
Agents
that do
provide an
excellent service,
have a
code of
ethics,
and
represents
the
buyers &
sellers
to their
best
interest
but they
are hard
to find.
By doing
your
homework
before
selecting
an Agent
to buy
or sell
will
minimize
any
surprises
and
disappointments that
may
cause
you time
and
money.
Why Use Real
Estate Closing
Attorney?
|
Real estate closings
bring all interested parties
together. They involve the execution
and delivery of all necessary
documents simultaneously with the
payment of the purchase price and
the settlement costs of the
transaction. While this may seem
like a simple process, conducting a
real estate closing is a complicated
matter and requires a thorough
knowledge of the law. Accordingly,
sellers and purchasers often turn to
lawyers. |
Closing
involves a series of complex phases:
examination of the title, completion and
explanation of legal documents, and
resolution of any possible title
difficulties.
Real estate
closing attorneys
conduct each of these steps. First, they
examine the title records for prior
conveyances, unpaid mortgages, liens,
judgments, easements, and other encumbrances
and clouds on title. They verify that the
seller has the authority to convey a good
title to the property and that no errors
exist in the deeds in the chain of title.
They likewise negotiate with the title
insurance company for insurance coverage to
insure titles against any adverse claims of
ownership, liens, and easements.
Closing attorneys next
combine all relevant information into one
set of closing documents. At the closing,
they provide detailed explanations of the
documents to insure that the parties
understand all issues involved in the
transaction. Such matters include: the
relevant contracts of sale, obligations of
contracts, ordering of the title searches,
their analysis of title searches,
significance of the title search, quality of
title, extent of risks, probability of
damage, obligation to close or not to close,
process of closing itself, and documents
there exchanged. They then disburse funds,
record relevant documents as public records,
and prepare title insurance policies for the
purchaser and lender.
The closing attorney's role
can be summed up as follows:
For buyers, attorneys:
-
Review and negotiate the
specific terms of contracts;
-
Help assess financing
options and explain the terms of loans;
-
Evaluate all legal
documents, such as the deed, title
policy, mortgage, survey, closing
statement, and seller disclosure
statement;
-
Attend the closing and
make sure clear title is transferred;
-
Scrutinize charges to
make sure that they are consistent with
estimates; and
-
Provide updates of any
facts that affect the property interest
and provide counsel if difficulties
arise.
For sellers, attorneys:
-
Review and negotiate the
specific terms of contracts;
-
Request title searches,
surveys, mortgage payoff letters,
condominium documents and all other
items necessary for closing;
-
Prepare the deed, all
other closing documents, and closing
figures;
-
Arrange for the closing
at a convenient time and place;
-
Attend the closing and
ensure that clear title is conveyed;
-
Review charges for
consistency with estimates; and
-
Provide updates of any
facts that affect the property interest
and provide counsel if difficulties
arise.
Not all states require attorneys for closing
a real estate transaction. Many states in
the western United States allow title
companies to fulfill this role, so in those
parts of the countries lawyers are not
usually involved in routine real estate
transactions such as purchasing a residence
or raw land. But to be sure always consult
with a Real Estate Attorney.
|
Disclaimer:
This site is
dedicated to expressing the opinions that we hold
and presenting them to the public. We do not wish to
force our opinions onto others. We merely state
them. If one chooses to accept our opinions as fact
or valid...that's great! But if one chooses to
dismiss our opinions and disregard what we have to
say...that's fine, too. It is you, the reader, who
makes the choice of whether to believe us or not.
"The truth is out there" |
|
Equal Housing Opportunity