In my humble opinion hosting an open house is neither senseless nor influential; it does have a place in my marketing plan since many clients anticipate it and I enjoy it very much since real time feedback from the buyers are invaluable to position the home in the market place. Question is: Should the realtors host […]
Commonly, the broker or its agent will have an agency relationship with the consumer. An agency relationship is defined as “a relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services.” Furthermore, […]
The initial interview is the first contact where a substantive discussion about real estate occurs. Simply meeting a buyer to show him/her a property or working an open house does not necessarily mean that the buyer must work with the agent. The agent does not “own” the buyer, and is not obligated to represent him […]
Closing is known by many names. For instance, in some areas, closing is called settlement and transfer. In some parts of the country, the parties in the transaction sit around a table and exchange copies of documents, a process known as passing papers (“We passed papers on the new house Wednesday morning”). In other regions, the […]
Closing is known by many names. For instance, in some areas, closing is called settlement and transfer. In some parts of the country, the parties in the transaction sit around a table and exchange copies of documents, a process known as passing papers (“We passed papers on the new house Wednesday morning”). In other regions, […]
As you know from previous conversations, appraisals are required by the lender to determine the value of their investment. Sometimes sellers reach out to the appraisers prior to listing the property in order to price it right. Also, your agent will run CMA (this is not an official report that you can use for your […]
Due diligence refers to the time period that starts after your offer to purchase is accepted and it ends upon closing. The duration of this period is usually of the due diligence period is typically flexible and the deadline is negotiated between parties. This is your chance to determine any potential problems with the home […]
If the seller agrees to the original offer or a later counteroffer exactly as it is made and signs the document, the offer has been accepted and a contract is formed. Your agent must advise you of the seller’s acceptance and obtain the approval of the parties’ attorneys if the contract calls for it. She […]
What amount should I offer for the home I am interested in? Your agent will give you this answer by running a report called CMA (Competitive Market Analysis). A CMA is an estimate of a home’s value based on recently sold, similar properties in the immediate area. The analysis considers the location, age, size, construction, […]
In order to understand how the offers are made we must understand first what it means exactly. An offer is a promise (this usually is something financial/monetary) made by the buyer, requesting something in exchange (this is usually the property/estate) for that promise. The offer is made with the purpose that the seller will be conjugated to the terms […]
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