Get the latest news, exclusives, sport, celebrities, showbiz, politics, business and lifestyle from The VeryTime,Stay informed and read the latest news today from The VeryTime, the definitive source.

Tips For A Successful Real Estate Transaction

47
For today's real estate consumer, you should be aware that there are a lot of part time agent's out there doing business, your business. And where this can hurt you lies within the contractual deadlines that you must meet as well as the choices you make along the way to closing.

Buying real estate with or without an agent, you need to make sure you make note all of these deadlines on your calendar, as you're the one who gets stuck with any problems that may arise from not meeting the deadline. Having a full time agent at your side should suffice, but not always. As contracts go, the people with their names on it are ultimately responsible for the outcome of the contract. Choosing your real estate agent poorly, is on you.

Real estate is a demanding career and agents get lost in the demands from time to time. That being said, you may find that you have to be the squeaky wheel and have your agent give the other side a little push to do simple tasks. Or, you may find that your agent is the one who needs the little push. If that's the case, you really need to be shopping for another real estate agent before you continue shopping for a house. Let me rephrase that, find the right real estate agent to work for you then find the right house, or your transaction could be just a memorable for all the wrong reasons.

A bit of common sense will go a long way when you are choosing your real estate agent as well as when you are in the midst of the transaction. Your team consists of more than the two of you. It will also include a lender, a real estate attorney and home inspectors. Being confident of your real estate agent is a must as they will be your guide post as the rest of your team is chosen. And, as far as the contract is concerned, the one it effects the most is you, so pay attention.

As the home buyer, you are the one who can make a deal progress smoothly. You have responsibilities that require you to stop what you are doing and produce paperwork, without the paperwork, the transaction has to come to a halt. This is such a big purchase, so there are many people that are behind the scenes of your team. These include underwriters for your lenders and paralegals for your attorneys as well as title researchers, and land surveyors.

All sorts of people are counting on you to perform your job as the consumer, so they can do their collective jobs. That being said, you'll want to pay close attention to all the requests made to you from each part of the transaction to make sure it is a successful one.
Quite often the culprit behind the horror stories regarding real estate transactions, is the home buyer. The number one area of complaint from home buyers is around the lender. This has to do with the fact that the lender will continuously request paperwork to complete the documentation trail required by the bank. Don't procrastinate on getting the documents that your lender has requested. Slow delivery of any of these documents will end up costing you a delayed closing, and everyone constantly harassing you to deliver. Get it done quickly and sit back while the lending team gets their job done.

Very often the stress in a real estate transaction is self induced. If your agent gives you an expected time frame for something to take place, then you will need to hold on tight while the process runs its course. Not everything in a real estate transaction can be done quickly, that why there's no one at the check out line. This is one purchase that has to follow a process.

You are critical to the success and stress level of your closing. Choose your team wisely by choosing your real estate agent wisely and you'll be home in no time! If your agent habitually arrives late for appointments and leaves chaos behind, consider it a sign as to how your transaction is going to flow. Jump ship while you have time! On the other hand, if your agent is timely and organized, you can expect your transaction to run its course in much the same way.
Source...
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.