What does an architect, investment advisor, lawyer, and plumber have in common? All four of them serve the public. You wouldn’t want to design a house without a professional architect any more than you would try to manage your money, defend or prosecute a law case, or repair a broken pipeline without the appropriate professional to assist you.
Subsequently, when you are buying or selling a home, you would seek out the advice and professionalism of a real estate agent. Buying a house is probably the single most important purchase in your life. It stands to reason then you would want professional assistance to guide you through the myriad channels of buying a house (or selling a house). Here are some important facts for you to consider that a Realtor will help you with:
- Listing your house at the correct, market-proven price is critical. Overpricing your house can lead to the risk of not getting buyers to the table at all. The longer a house is on the market, the more negotiable the purchase price becomes.
- For a Buyer, a good credit rating will be helpful and obtaining a prequalification document will be necessary if you will be financing the purchase. A Prequalification document from your lender states that you are financially responsible and able to meet monthly mortgage payments. Your Realtor can guide you through this.
- Typically you must put 20%, of the agreed upon price, down when purchasing a home but there are still options to purchase if you have less than the 20%. The availability of PMI (Private Mortgage Insurance) is helpful, this is an important option and a Realtor will advise you to talk this through with your lender. These conversations pave the way for a much easier acquisition, and help you creatively work within the mortgage system to pay the PMI until the LTV, Loan to Value ratio reaches a certain percentage at which point you can eliminate your PMI.
- A very important thing to remember when purchasing a home is that, as a Buyer, there is no cost for the services of a Realtor. Realtor commission expenses are part of a listing agreement as the Seller lists their home.
- Finally, Realtors are your guiding light to a successful purchase or sale of a home. Some of the most important areas that Realtors handle include: price negotiation, agent occupied open houses, marketing in multiple arenas, staging a home and going over every detail of all documents a Buyer and Seller execute.
While other types of real estate companies claim to offer you a fair market value for your home, there can be hidden costs which mislead you as to the real value you will gain. Obtaining a Realtor gives you the peace of mind that you will be represented by a professional in all aspects, whether buying or selling.
Realtors at Verrado Realty