Working with Real Estate Agents
When buying or selling real estate, you may find it helpful to have a real estate agent assist you. Real estate agents can provide many useful services and work with you in different ways. In some real estate transactions, the agents work for the seller. In others, the seller and buyer may each have agents. And sometimes the same agents work for both the buyer and the seller. It is important for you to know whether an agent is working for you as your agent or simply working with you while acting as an agent of the other party.
Offer & Acceptance in Real Estate Transactions
The purchase contract is the most important document in any real estate sale. It must reflect the entire agreement between buyer and seller.
Due Diligence for Residential Buyers
Due diligence is a vital part of the home buying process. As a buyer, it is your opportunity to gather information about the property and surrounding area to help you make an informed decision about whether this is the right home for your needs. Since purchasing a home is a large investment for most buyers, it is wise to ask questions, review documents, and order inspections to reduce the risk of buying a home with serious and costly defects or with issues that could affect its value and desirability.
Home Inspections Q & A
Homebuyers often employ professionals to inspect the structural and mechanical systems of the home and report on their condition. Sellers also employ home inspectors to alert them to problems with their homes which could arise later in the transaction, this brochure is written from the viewpoint of the potential homebuyer.
Real Estate Closings Q & A
A real estate “closing” is the final step in a real estate sales transaction.
Residential Subdivisions & Planned Communities
Questions and answers regarding homeowners associations, property restrictions, roads and common areas in residential subdivisions and planned communities.
Earnest Money Deposits
Earnest money is given by the buyer to the seller (or the seller’s agent) to show buyer’s good faith when making an offer to purchase the seller’s property.
Since payments made before closing are not treated the same in all transactions, it is important to understand the purpose of earnest money and how it will be handled during the transaction. This is usually spelled out in the offer to purchase or sales contract.
Therefore, you should always read the contract or offer to purchase before paying any money and CONSULT YOUR OWN ATTORNEY IF YOU DO NOT UNDERSTAND THE PURPOSES AND DISPOSITION OF ANY PAYMENT OR ANY OTHER TERMS IN THE CONTRACT OR OFFER.