The Buying Process Financing your new home Finding the right home Closing or Settlement Selecting your dream home Why A REALTOR®? Negotiating the purchase You Be the Judge! Due Diligence Need help finding your dream home? Click here

Can a real estate agent really help me in buying and selling property? The answer is a resounding YES!

If you're thinking about buying or selling your home, you should
ask yourself the following questions:

• Do you have the time, energy, sources of information, and contacts to do the job yourself?
• If you are a 'do-it-yourselfer', will the results be as good, or would they be better if you had professional assistance?
• Do you have the where-with-all to be assured the transaction will be a smooth one.
• Do you have the time to attend to the details.
• Would you have purchased for less, or sold for more, if a real estate agent was involved?

The Buying Process back to top The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. If you give a real estate agent some basic information about your available savings, income and current debt, they can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer a variety of choices. Selecting your dream home back to top Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Your real estate agent can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know about your new investment. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell? Due Diligence back to top With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your agent, title company or attorney can help you resolve issues that might cause problems at a later date. Why A REALTOR®? back to top All real estate licensees are not the same. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the "REALTOR®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Finding the right home back to top Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a REALTOR®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS®, a real estate trade association, and all members agree to abide by a 17 Article Code of Ethics. A REALTOR® has many resources to assist you in your search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your Realtor to find all available properties. Negotiating the purchase back to top There are a myriad of negotiating factors, including, but not limited to price, financing, terms, date of possession, and often the inclusion, or exclusion, of repairs and furnishings or equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required. Financing your new home back to top As soon as you are reasonably sure the property is right for you, the process of obtaining financing begins. Your agent can help you in understanding different financing options and in identifying qualified lenders. Closing or Settlement back to top Finally, there is the closing, or settlement, as it is known in different parts of the country. Every area has its own unique customs. In some areas, the title or escrow company will handle this process. In other parts of the country, an attorney does it all. Again, your real estate agent can guide you through this process and make sure everything flows together smoothly. You Be the Judge! back to top Real Estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®!