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Why You Need a Real Estate Professional
There are many pieces to a real estate transaction that must be put into place to reap the final rewards of a closed sale. Marketing a home to the buying public and/or looking for a new home is an involved process in itself, plus coordinating and understanding all of today’s legal requirements of transferring title in a real estate sale.Consider these questions:
- Who will complete the contract forms, negotiate the offer, and look out for YOUR interests?
- The eight-page contract – and any addenda – contains the agreement of the buyer and the seller, and states the representations and promises to be performed by each of the parties.
- Is earnest money needed? How much?
- What happens to the earnest money?
- What if the earnest money check does not clear for payment?
- What if the buyer changes his mind after signing the contract?
- Why is there an option period?
- How much should the option fee be?
- How many and what kind of inspections should be performed?
- What are the time limits for all inspections?
- Once the property has been inspected, what are the parties’ choices?
- What financing options are available?
- How does a buyer become qualified and approved for a home loan?
- What if the buyer is not qualified for a loan?
- What if the buyer does not have enough money to close?
- What if the buyer’s credit report reveals credit issues?
- How long will it take to obtain financing?
- What options are available for obtaining the best interest rate? Will there be points?
- What happens if the lender cannot provide the interest rate stated in the contract?
- How much are the closing costs?
- What if the lender’s appraiser does not substantiate the value of the property?
- What if the lender requires repairs?
- Who will pay for these repairs?
- How will the repairs be made?
- What if the lender rejects the property?
- What if the buyer’s loan verifications are not returned?
- What if “conditional” approval is issued and the conditions cannot be met?
- What if the lender does not approve of the survey?
- Why You Need a Real Estate Professional
- Why You a Need Real Estate Professional
- What happens if flood insurance is required?
- What about easements on the property?
- What if the loan is not approved within the time stated in the contract?
- What happens if a title commitment is not issued to the lender?
- What if the title search discovers title problems?
- What if hazard insurance cannot be found for the property?
- What happens if the buyer objects to exceptions in the title insurance coverage?
- What happens if the lender objects to exceptions in the title insurance coverage?
- What happens if the closing date is not met?
- What if the buyer is unable to provide information that is needed?
- What if the loan documents are not acceptable to the buyer?
- What if the loan documents are not acceptable to the buyer’s attorney?
- What if the loan underwriter has requirements?
- What if a termite certificate is required?
- What happens if the lender delays the closing?
- What if the loan is not timely funded?
- What if the loan documents and closing papers are not prepared in time for the closing date?
- What if the buyer and seller disagree about the closing costs charged on the closing statement?
- What if the buyer wants to move in prior to signing the closing papers? Prior to the seller receiving his monies from the closing?
- What if the buyer’s lock-in interest rate expires PRIOR to the closing?
- What about residential service contracts excluded items of coverage after closing?
- What if the buyer objects to closing because of his walk-thru?
- More seriously, what if the buyer’s home fails to close and their loan was contingent upon selling their home?
- What if the seller needs a lease-back after closing?
Associates are trained and qualified real estate professionals who take pride in their ability to coordinate and move a real estate transaction from the listing, marketing, and contract negotiating and pending process to a SUCCESSFUL CLOSING!
