Why Some Home Sellers Prefer Direct Buyers Over Brokers Selling Your Home Don T Be A Victim Arkansas Real Estate Forget The Rat Race North Carolina Real Estate Mountains Coast And Tobacco Road Things To Look For When Purchasing A Home
A real estate broker is a person or entity who serves as an intermediary, or middleman between sellers and buyers of real estate, and is the person who initiates or attempts to find property sellers and buyers
In the US housing setting, a real estate broker and his accompanying sales team, assists sellers in promoting and selling their property, usually negotiating for the highest price or rate possible, and under the best terms. It is standard practice in the United States that a person is required to obtain a license first in order to receive compensation or a commission for services rendered as a licensed real estate broker.
Unlicensed real estate activity is considered illegal, but buyers and sellers who act as principals in the sale or purchase of real estate are not required to be licensed.In some states however, lawyers are allowed to handle real estate sales, and are paid fees and commissions without the need to be licensed as brokers or agents.
There are quite a few buyers and sellers who are comfortable doing the work of marketing their home for sale by themselves, as well carrying the weight of the work on the buyer’s side. Unrepresented buyers or sellers do an equal amount of work as agents or licensed brokers.
An unrepresented seller more than often approaches a listing agent for a property they represent. If somehow the home seller convinces the agent to give back the “buyer’s agent share” to him, it is not as if the listing agent is not going to be picking up the slack for the work the seller does not do or is inexperienced in doing at.
The unrepresented seller is at most, directly offering his/her property to a buyer by negotiating deals directly and haggling over the best possible price and payment method. The good thing however with dealing with direct buyers over brokers or agents is that a home owner would not have to cut profits with established brokers agents, and would not find the need to dole over a substantial amount of commission to the agent.
Should a home or property owner decide to sell his asset on his own and not avail the services of a licensed broker, he/she should be ready to prepare all necessary papers describing the property for advertising, pamphlets, open houses, and others. Advertising a property is often the biggest outside expense in listing a property, and a home seller should readily shoulder the expense for this.
In some aspects, holding an open house to show the property would be a rather inexpensive venue for the home seller to show off his property. By being a contact person, the seller should always be available to answer any questions about the property and to schedule showing appointments to prospective buyers.
Selling your home can be a complex process. If you make mistakes, you may be unable to sell you home or have seller’s remorse. There’s no need for this if you keep in mind the following.
Overpricing Your Home
It’s important to be realistic about the value of your home. Sellers should insist their realtors present them with objective criteria for pricing. Comparative information is most critical in getting a house priced properly. If you ask for too much, it’s hard to ask for less later on in the process.
Not Displaying Curb Appeal
You don’t have to invest thousands of dollars into redecorating your home. But there some basic steps you must take to present your house in the most positive light.
Overdoing Home Improvements
Don’t go overboard staging your home. It should feel warm and inviting. Grass should be freshly cut, plant some flowers, organize the home’s interior, rid the home of foul smells and apply new coats of paint to all walls and doors.
No Understanding The Buyer’s Offer
Carefully reviewing and understanding the offer or purchase contract is imperative. Here are a few things to look for:
1. Has the buyer agreed to put down a significant deposit?
2. Has the buyer asked for some credits to cover loan costs?
3. Is the offer contingent upon the owner selling his or her present home? If so, how is the selling process transpiring?
Have general inspections done in advance. Even though buyers will often have the house inspected again, it’s best to prepare for any potential problems.
While it is tempting to hide or fail to mention the snafus of a home for example, it’s a the hotel for cockroaches or located in an area that’s prone to floods or earthquakes, canyon fires, it is best to give buyers full disclosure. This kind of information can greatly affect the value or desirability of the property.
While you may think your pink walls or roman columns are fabulous, it is best to keep that opinion to yourself.
Poor Realtor Communication
Sellers should take a pro-active approach to the selling process and not rely completely on the realtor. Sellers should insist upon regular updates about the house and never assume the realtor has taken care of everything. It is the seller’s responsibility to ensure everything is running smoothly.
Once you have an offer on the table, it is imperative to secure letters of prequalification or loan approval from the buyers. These letters should not only state that the buyers’ credit has been checked but also that it was acceptable to the lender. Also, it’s important to ask buyers to complete a loan application and submit it to their lender within a few days after acceptance of the offer.
Closely Read Closing Statements
Cautiously review the closing statement, including the loan balance, repairs and other expenses detailed there to avoid last-minute surprises or errors. Make sure you get an estimated statement a few weeks prior to closing and compare the final statement to the estimated one.
If you follow these steps, you will go a long way towards avoiding being a victim in the home selling process.
Arkansas is a state that harkens back to a more relaxed time of life in our country. If you’re tired of hearing 90 cell phones ringing, moving to Arkansas may be the answer.
Unlike many states, Arkansas has made a concerted effort to protect and maintain its past. It is equally protective of its small, rural town heritage with even the biggest cities feeling like friendly, uncluttered towns. If playing in the great outdoors is your idea of a good time, Arkansas offers scenic mountains, rivers, forests in which you can play to your hearts desire.
The undisputed population center of Arkansas, Little Rock is named after…a little rock. This unpretentious title reflects the nature and attitude of the city, to wit, laid back and relaxed is the central theme. For families, Little Rock is a very attractive city as there is a strong emphasis on kids throughout the city. From the riverfront park to museums tailored to the interest of the children, it all seems to be about kids.
When it comes to weddings, Eureka Springs is the Las Vegas of Arkansas. A picturesque town in the northwest of the state, the town started as a health center and evolved into the must visit tourist destination of Arkansas. Surrounded by forests and natural mineral springs, the architectural style is decidedly Victorian. When people mention the Ozarks, this is the place they are talking about. A charming town that gets a 10 out of 10 rating as one of the best small towns to live in.
Roughly a 45-minute car ride south of Little Rock, Hot Springs is a great destination for spa enthusiasts. Wedged into the Zig Zag mountains, the town is ripe with thermal mineral springs. This, of course, has led entrepreneurs to open spas of all sorts. The forest of the Hot Springs National Park engulfs the town. The architectural style is predominantly brick-oriented with many of the older spas have a healthy dose of marble thrown in.
Arkansas Real Estate
Arkansas real estate prices are as relaxed as the state. On average, a home in Little Rock will set you back $180,000, while you’ll need to pay about $50,000 more for homes in Eureka Springs and Hot Springs. For 2005, Arkansas real estate appreciated at a rate of a little more than eight percent.
North Carolina has much to offer and is booming. North Carolina real estate is on the move as well.
North Carolina is a state with a variety of styles. Head to the mountains and you’ll find a slower, gentler pace of life in stunning scenery. Providing over 15 percent of all the Christmas trees in the United States, the mountains are full of pines, winding roads, little towns and a hot bed for outdoor activities such as fishing, hiking and camping. Head down into the plains and you’re in the tobacco heart of the country, not to mention a hot bed of colleges with Duke, the University of North Carolina and North Carolina State so closely situated that rivalries are red hot. On the coast, you’ll find beautiful beach areas with little towns and rollicking fun. Locations in North Carolina consistently appear in top ten rankings for best places to live in the country.
Charlotte has exploded over the last ten years and is now the biggest city in North Carolina. The explosion has occurred through careful planning by city leaders, who aimed to make the city an economic hub in the south. Although the neighborhoods contain interesting little shops and areas, the city as a whole lacks the southern charm found elsewhere. If you want to live in a modern southern city, Charlotte is a good place. Some, however, complain the massive development has robbed the city of its soul.
The Raleigh-Durham area of North Carolina is a hot bed of college life. Duke University and the University of North Carolina can be found within easy reach of each other. Let the rivalries begin. If you’re a college basketball fan, this area rivals the competition between Lexington and Louisville in Kentucky.
Raleigh is the capitol of the state and a nice little city. Visiting the city is more about taking in the lifestyle versus seeing anything in particular. Walking throughout the area will feel a bit like exploring Charlotte, but with the soul of the place still in tact. With the surrounding colleges, the Raleigh-Durham area has that unique, eclectic college atmosphere you typically find with institutes of higher education.
North Carolina Real Estate
North Carolina real estate is fairly reasonably priced. In Charlotte, a single-family home will run you in the $200,000 area with plenty of housing available. If you prefer the Raleigh-Durham area, you can expect a slight increase in average home prices of maybe $20,000.
Appreciation rates in North Carolina are modest to say the least. Despite the economic boom in Charlotte, overbuilding has lead to plenty of supply. In 2005, real estate in the property appreciated at a rate of roughly six percent.
There are many things to watch for when buying a new home. Often, home buyers find themselves overwhelmed by the process of buying a home and overlook many of the telltale signs that a home might not be all they think it is. It will always be good practice to go over the negative aspects of any given home, in detail, before making an offer. Many of the following things should be found during a proper home inspection, however it is a good idea as the buyer to familiarize yourself with certain things and to discuss them with your Realtor and the inspector.
1. Damp Basements
A damp feeling in a basement can suggest water seepage, either from improperly graded soil, or a bad foundation. This can lead to many problems further down the road when considering renovations or remodeling. This can also lead to problems with mold and the deterioration of the standing foundations. Moisture can also weaken the foundations leading to expensive repairs in the future. This is also a health concern as the presence of mold has been linked to several respiratory conditions and ailments.
2. Cracks in the Foundation
Always inspect the interior and exterior of the foundation for cracks and stress marks. Visible cracks can mean several things; excessive settling of the house, the fact that the house may have been built on an improperly graded site, or in an area that is prone to earth movement. Cracks can also allow small insects access to the interior of the home. Ants and termites can cause no end of costly problems in a home. There are many different types of foundation imperfection and the causes of these are quite varied. If there is any evidence of an imperfection in the foundation, have the entire foundation checked by a professional.
The presence of unappealing odors can mean many things in a home, the most common of these is mold. Biological problems like mold can be difficult to repair as it usually means an extensive amount of work to correct them. Ripping out walls is the most common “fix” for mold as it can be trying to find the source. Visible mold can be killed with bleach, but usually the problem runs far deeper than the surface. A professional inspector should identify any mold problems upon the necessary inspection and relate these to the realtor or home buyer.
4. Poorly Ventilated or Damp Attic
This is another factor that can cause large amounts of mold and dry-rot to develop in a home. Check the interior of the roof if it is accessible. Is it wet? If so, there is a problem. This means there is insufficient ventilation and/or a leak in the roof itself. The interior of a roof should be bone-dry, year-round. This could also be a result of fans from the kitchen or bathroom that vent into the attic and the attic is not properly set up to accommodate the moisture that this generates.
The discoloration of portions of the walls or ceiling is a good indicator of leaks and seepage. This could indicate a problem with leaking roofs or plumbing pipes. This can be an extremely expensive problem to fix as it usually involves cutting into the walls and/or ceilings. Leaks such as this can also cause a fire hazard as they may interfere with the existing wiring. Be mindful of fresh paint as this is a common way to cover up spots that show water damage.
6. Electrical Work
One of the largest causes of electrical fires in homes is D.I.Y. Electrical work. Check the connections on fixtures and anything that appears to be added post-construction. Electrical work should never be done by an unqualified individual. For instance, check the main electrical panel, does it look unorganized and sloppy? This is one indication that the home’s electrical work may have been done by a non-certified individual. Haphazard wiring can lead to costly repairs and is a definite danger to the homes and residents.
7. The Property Itself
The Property itself can contain many oft-overlooked problems. In particular the landscaping of the property can affect the home itself and particularly the foundations. Is the property sloped away from the house? The high point of the property should always be the house itself. This assists in drainage and presents water problems. If the land slopes downward towards the home, chances are there will be issues with water and seepage..
|area, arkansas, buyers, carolina, charlotte, city, electrical, estate, foundation, home, hot, house, loan, mold, north, offer, problems, process, property, raleigh-durham, real, real estate, rock, seller, sellers, selling, springs, town, work|