Selling your property is not as easy as it may at first appear, no matter how attractive the house may be or how conveniently located your residence may seem. It’s not just a matter of advertising or marketing; it’s also a matter of entertaining visitors and potential buyers (selling), negotiating, and going through the labyrinth of legal issues to ensure a quick and seamless sale.
The solution is to employ an estate agent to help you with all those issues – the agency will allow you to save a lot of time, a lot of money, and a lot of headaches. However, there are different kinds of agents out there, so how do you find the right one? Here’s the best way to choose an estate agent if you want to sell your property.
Another thing to think of while selling your property is if it’s in mortgage, as this is a common thing. Being in mortgage simply means you still owe money to your lender and have not yet satisfied your home loan. Typical mortgages run 15 to 30 years, same way with commercial mortgage refinancing and homeowners regularly sell their homes or commercial buildings to move before loans are paid. It is a simple process, you sell the home and get enough money to easily pay off your loan balance. In this situation your agent usually works with your title company and real estate lawyer to prepare loan closing documents and a settlement statement. When a buyer closes on your home his funds are use to pay the remaining balance of your loan and any additional fees you owe in the sale. The remainder goes to you as your gain on the sale.
List your demands
Never forget that the estate agent works for you – you should be able to find an agent who respects your wishes and understands your list of demands. On the other hand, your estate agent is probably more experienced in the business than you are, so appreciate the advice they might give you.
One or more?
Often traditional real estate agents demand to have exclusive rights to the sale of the property, meaning you can’t make a deal with two or more real estate agents at the same time. On the other hand, online or Internet estate agents are more flexible. You should decide first whether you wish to hire only one, or several, estate agents.
Creating a short-list
Ask your friends and family members, go online, talk to experts – and create a short-list of possible or potential estate agents. The short-list will allow you to compare them with each other and find the correct one.
Doing the research
Due diligence is always necessary, whatever project you are undertaking – and that includes finding the estate agent that is right for you. Never be afraid of questioning them. On the other hand, also be upfront with your wishes and be open to suggestions.
An estate agent does cost money, so make sure you calculate that into the selling price of the home. The traditional agent’s fee is usually between 1 and 2.5% of the price of the home (excluding VAT, which currently stands at 20%). If you want to save money, then it’s better to opt for the online estate agent, who only charges a set fee. One other important consideration to make is to check the fine print of the contract they offer you. Are their marketing expenses included in the contract? If not, how much will those expenses cost you? Furthermore, never sign a contract with an agent that states they have completed their duties once they have found a buyer who is willing and able. Make sure the agent actually sells.
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