How to pick a real estate agent that suits your needs.

 

Many factors contribute to the experience and success of buying and selling homes, but even in the digital age of a more transparent real estate market, working with a good real estate agent continues to be one of biggest impacts on either side of the transaction.
But how do you pick the right person to represent you or your home?
Before you just start asking your friends or digging through the fliers in your mailbox or hunting online, here are a few dos and don’ts you should seriously consider when selecting an agent.

 

Do:

 

  • Ask people you trust for agent recommendations, but take what they say with a grain of salt. Did they recently buy a home in your same price range?  Have they had a      successful time selling their home? Just because this agent worked out well for them does not guarantee the same experience for you.
  • Research. Most real estate websites, including Zillow, have online agent reviews. This can be a good starting place.
  •  Find an agent that specializes in what you’re trying to do. Don’t select an agent who sells $2 million homes to help you find a $200,000 home. Check out current home      listings. Do you like the photos, the description? Try contacting the agent to see if they’re available for you.
  • Interview the agent. What is their specific marketing plan for your home? How will they negotiate so that you can be the winning bidder on your dream home? Why are they the best option for you? Can you call some of their past clients?
  • Set up expectations. What do you want from them? Outline your needs from the get-go so there won’t be any surprises down the road.
  • Make sure you get along with the agent. You don’t need to be best friends, but ultimately there should be some sort of rapport that allows for a successful business      relationship.

 

Don’t:

 

  • Pick friends or family. You don’t want to jeopardize a friendship if the buying or selling process gets difficult. Also, be wary of hiring even a friend of a friend, or someone recommended. If you’re serious about real estate, find someone that you can be honest and professional with. Unfortunately, that may not include your cousin or your best friend’s spouse.
  • Pick someone who dually represents the buyer and the seller of the property you’re looking at. They may not be able to be fully transparent with you.
  • Be afraid to break up with your agent. Be honest and simply tell the agent it’s not working out. List your reasons and be respectful.
  • If you’re not quite ready to be tied down to a particular agent, it’s better not to engage one until you’ve made a formal decision. You can communicate with an agent and ask    for advice, but be clear upfront where you stand.

article by Erika Riggs/Zillow

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Great tips for the home buyers out there!

Here is a great article on getting to closing day without a hitch.

by-Deidre Wollard, Real Estate News

Three Tips For Avoiding Closing Day Glitches

Closing day is the most exciting day in the home buying process. The long journey is finally over and you will sign your papers and get your keys. Once you have been told that your home mortgage has a closing date you may want to move in immediately but while most home sale transactions are smooth, some may hit a few speed bumps on the road to homeownership bliss.

The most important part of the transaction is to get all of the necessary parties and necessary documents together on the right day at the right time. Sounds simple, right? Unfortunately as many an experienced agent reports, it can be a bit like herding cats. Although your Realtor will be your guide through this process it’s still a good idea for you to be aware of all of the dates, steps, and procedures as you lead up to the big day.

Many issues surrounding a problem at closing can actually be tackled earlier in the process. It’s important to keep on top of your mortgage approval process, home inspection and repairs, and the title discovery process as these are the areas where things can often go wrong. For more information on this check out our post on why pending sales can fall through. Below are three last-minute things that can delay a closing.

1) Be certain the home is ready for you to take occupancy. If you notice something on your final walkthrough, bring it up immediately. It’s your responsibility to make sure that the home is being delivered in the agreed-upon condition. If something is wrong and the home is not cleaned out or agreed-upon repairs aren’t completed, it’s time to spring into action. Your agent can work with the seller’s agent to solve any potential problems. From there you can determine what is necessary and what it will cost. It may be possible to do some last minute negotiations, either changing things so that the seller pays more of the closing costs or putting proceeds in escrow until repairs are completed.

 2) Make sure the paperwork is in order. Review all documents ahead of time if you can. Misspellings, missing information, incorrect addresses or loan amounts can hold up a closing and if they can’t be easily corrected your closing could be delayed by hours or even days. When you review your loan documents make sure that the payment amounts and interest rates are as you expected them to be. If you are using a real estate attorney you will want to have an appointment to review the real estate contract, settlement, truth-in-lending statement and the mortgage. Your attorney should verify that the seller has made all repairs that were agreed upon and that he will bring the deed to the real estate closing.

3) Make sure you have your funds ready. Closing costs will be due and a personal check is not permitted.  Be sure to either bring the down payment to the closing yourself as a certified check or arrange for the transfer of funds a bit in advance so that any potential delays during transfer won’t hold up your closing. Closing costs can amount to a small fortune. All of these costs were outlined to you during the mortgage application process. Loan origination, mortgage loan, mortgage points and credit report fees are all closing costs to be paid at the closing. In addition, you may need to pre-pay interest for a partial month depending on the date you closed and when the first payment is due to lender. Title insurance is one of the more expensive fees and is required by all lenders to insure there are no liens against the deed. Finally, the last charge to pay to the lender is the fee for recording of the deed, which may include a real estate transfer tax.