Buyer and Seller Tips
Buying or Selling Real Estate is a
major transaction and one that should be thought through
carefully. I've compiled a set of resources that I think
are helpful for anyone that is thinking about being involved in
a real estate transaction.
Buying a Home
The
first thing to do is to find a real estate agent that you trust
and that you feel comfortable with. The great thing about
buying a home, is that you do not pay your agent, the seller
does. It costs you nothing to have an agent search for you
and help you in this important process.
It's important to understand the home buying process and also
figure out how much you can afford in a home. Here are
some websites with great information about mortgages and the
home buying process.
Selling Your Home
You
first need to decide whether you want to try and sell FSBO or
list with an agent. Selling FSBO can save you money, but
you need to be ready to do a lot of work in the process and
can't be in a big hurry to sell. It's estimated that over
80% of the homes that sold last year were sold using a real
estate agent and the MLS. If you decide to use an agent,
find one that you like. Interview a few different ones.
Find someone that you feel will work hard to get your home sold.
Friends or friends of friends often are not the best choice for
an agent. Be picky. You are paying them to sell your
home. Real estate agent fees are normally 5-8% (split
between the buyer's agent and the listing agent). These
fees are negotiable and there are some agents that will list
your home for a flat fee and they claim to save you thousands.
But you will still have to pay the buyer's agent and often times
you get what you pay for.
HUD
has a good webpage with things to know when selling your home.
(HUD
Selling your Home Guide). I've also included some
basic information about selling your home (click here).
Interested in Investing in
Real Estate? Check out this website for some great
information
(Advantage
Software)
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