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|Posted by Park Place Realty Network on June 28, 2019 at 9:05 PM|
Are you ready to purchase a new home for you and your family? Purchasing property is a very serious and complicated process. There are rules and regulations that need to be followed. Plus, large sums of money are always in play. Many potential buyers debate should they or shouldn’t they hire a real estate agent to guide them and do their buying for them. Our recommendation is to hire a professional that will take care of your needs. Here are some reasons why.
This might be the biggest purchase you will ever make
Which purchase can be more important than buying a property? We are not saying that you cannot do this on your own. However, we are pointing out that there are many risks when not having professional help by your side through this process.
Searching for properties on your own
You can search for properties on your own and you might even find something that suits your needs. The big question is what comes afterward. How do you know you aren’t overpaying for the property that you are buying? Are you certain there is no potential problem on the property? Have you fully followed the letter of the law? It is hard to be certain on how to answer these questions when purchasing property without help.
Real estate agents have special skills and knowledge
There is a misconception that real estate agent is only there to take you from one property to another, so you can have a variety of properties to choose from. Although this might be partly true, it is just a small portion of what real estate agents have to offer when representing somebody as buying agents. There is special training for real estate agents, that gives them skills and knowledge that regular people do not have.
Why buying directly from the seller is not such a great idea
This is the moment where many get misguided because they want to save money and avoid paying commission. However, if you really think about it, you might pay way more for other things because you aren’t a professional and you don’t know how to handle the situation. Your real estate agent is loyal to you and protects only your interest. Who will do that for you if you are alone? This is not a situation where you should be overly confident and think that you can do everything on your own. Otherwise, you will be stuck directly with the seller. Two non-professionals making a deal doesn’t sound like a winning combination. This way of purchasing property can go south in many ways.
You don’t want to overpay when purchasing property
If you are going through the buying process alone, it is very likely that this will happen. Only a local real estate agent will know what is the real market value of the property you are interested in. Sometimes prices differ from one street to another. How can you know this on your own? Also, prices can be influenced based on the age of the property and some other factors. You cannot be certain of these details. A real estate agent, on the other hand, will be. In other words, they will make sure you get the best possible property for your money.
Did you think about disclosure issues?
This is another very important reason why you should contact a professional if you decide to purchase a new property. In case you are buying directly from the seller, remember they aren’t obligated to disclose any problems that they have with the property. For example, they might not tell you that there are issues with the roof. Of course, you will not know you even have a problem until there is a big storm or heavy rainfall.
This is the type of problem that a real estate agent can prevent from happening. First, they are loyal to you and they will protect your interest. Second, they will know which professionals to hire to examine the property.
Purchasing property has many legal aspects that come into play. Make sure you have it all covered by consulting your lawyer and hiring a real estate agent. Alt text: two signs that state legal and illegal.
Inspecting the property
We are piggybacking on our last topic. Sometimes you real estate agent cannot catch potential problems just by just visiting the property. However, local buyers might know something that you don't know. For example, they might know that many other locals had termite issues in that region. Consequently, they will hire professional inspectors to examine the property. There are many potential problems that can be going on with the property that the naked eye cannot spot. This is a great reason to have a professional protecting your investment.
Are you certain you are choosing the best neighborhood for your family
Here comes into play communication between you and your real estate agents. You must tell your real estate agent all the details that are important for you. Also, what is important to your family. Do you want a school nearby? Maybe you would prefer to live close to the park. Would you prefer to live in the suburbs or in a downtown area? The list of questions can go on and on. Some might be more specific than the other. Nevertheless, all very important to you. It is much more likely that your new property will hit more of your criteria if you have a real estate guiding your search. They are usually local professionals with a deeper understanding of the local grounds.
After you decide to move, you can learn what a binding estimate is:
By no means are we saying that nobody ever successfully purchased a property on their own. However, it is much more likely that you will get burned at some point if you are doing it on your own. There are just too many hurdles that need to cross in order to finalize a good purchase. The risks are too big and the purchase is too important to take it lightly. We wish you the very best and we hope you will find exactly what you are looking for.
Written By: Lisa Robert with US Moving Experts