Springfield MO Home Buying with a Real Estate Agent: In the past, a real estate agent primarily represented the seller. While the real estate agent helped with buying a home, she always gave the seller's interests first priority. This gave the seller an advantage over potential home buyers.Today, house-hunters can find buyer's agents: real estate agents committed to helping home buyers find the house they want and get the best possible deal.
This also applies to Missouri land for sale.
Real Estate Broker: Some real estate agents work through brokers, independent organizations that sell houses. Agents work with brokers on a contract basis. If you see a house you wish to buy and contact the broker about that specific house, be aware that the real estate agent assigned by the broker will represent the seller. This is in the best interest of both the broker and the seller. Brokers will often handle home inspections, financing and insurance. If you contact a Springfield or Nixa real estate agent with the intent of having the agent find you a house, she is assumed to be representing you, regardless of any connection the agent has to the broker companies.
Finding the Right Real Estate Agent: In Springfield, Nixa, Ozark or Republic finding a the perfect REALTOR can be done. Take the time to interview several prospective agents. Asking the following questions may help you decide if the real estate agent is right for you. Can you provide references from previous clients in Springfield MO?
Do you arrange house inspections, house appraisals, and insurance? Do you sell houses as well as help with home buying? How many buyers do you currently represent? How much experience do you have in home buying in Spfld MO? What real estate broker are you affiliated with? What types of property are you familiar with? Homes, farms, lots, land? What's the average cost of purchases you arrange?
Home Contracts: A real estate contract is complicated. A good buyer's agent can explain all the details and let you know where and when negotiation is appropriate. Finding a good contract was once as difficult as finding the right home or land. Today, all you need is a computer, access to the Internet and a few clicks of the mouse. The development of a real estate contract begins when you finalize the price and terms with the home seller. The process ends at closing, at which point you take possession of your home. You should review a standard real estate contract with your agent before you view any houses so that you know what to expect once you make an offer. Making an offer through your real estate agent The first step in buying a home or Missouri land for sale is to make an offer on a suitable property. Your real estate agent should provide you with a market analysis detailing the selling price of similar houses in the neighborhood over the last year. This information will help you make a fair offer.This is where your needs will come into play. Your real estate agent will assume you want to buy at or below market price, and will bargain accordingly. If you're willing to compete with other potential buyers and pay the asking price or higher, let your Spfld real estate agent know: this will influence how she negotiates your real estate contract. Seller Motivation Affects Home Contract Negotiation If possible, find out why the seller is moving and negotiate a contract based on this information. Retirees usually want as high a profit as possible, while urgent events (illness, marriage, job transfers) may mean the seller will settle for a price below market value. Ask your real estate agent how seller motivation may affect your offer and contract. Sellers may be willing to settle for less if you have a pre-approved mortgage because your financing is already secured. Sellers may also be influenced by a down payment exceeding what is required.
Considerations When Developing a Real Estate Contract Discuss the following points with your real estate agent when negotiating a real estate contract: Is there a mortgage escape clause? If there isn't, you will be legally required to purchase despite financing. Is the seller willing to offer concessions such as a roof repair or paint allowance? What appliances and fixtures are included in the price?Who pays for transaction costs (brokers commissions, lawyer or escrow fees)?
We hope this information will help you get on the road to home ownership. Good Luck!
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