In any real estate transaction, there are many moving parts to keeping the transaction moving forward, and it is the job of your Realtor to facilitate that process. It is sometimes the mindset of the seller that they don’t need a Realtor, and may try to sell their house on their own (FSBO). I’m not saying that there aren’t those far and few in between times where a seller could have success with that. But hiring a Realtor is not “just to list your home, and locate the buyer,” it is that, and everything in between that will take the transaction to the closing table!
After determining a fair market value for the home through your Realtors Market Analysis, representing the seller and locating the buyer is just the first step in the home sale process. Making sure the potential buyer is “pre-approved” to purchase the home barring any unforeseen issues that may come up; getting the property under contract; getting it through the inspections, and then negotiating any items of concerns from the buyer regarding the home inspection are the next big hurdles. It is getting through the appraisal process, especially in this market. Unfortunately, it is a little more common these days for a property to come back on the market, due to the buyer’s inability to obtain a mortgage because the property did not appraise. Are buyers willing to pay more than list price to get the house? Sure! But that would mean, and the buyers would need to understand, if the seller is not willing to negotiate the price down, to move forward with their purchase, they will have to make up the difference between the purchase price and what the bank will loan them. It is your Realtors job to know the ins and outs and the “what if’s” should they arise.
Lastly, putting all the right players on the “team” to represent the interests of both buyers and sellers is key to its success. If you do not have a relationship with an attorney, mortgage representative and the like, ask your Realtor for recommendations. He/she is a good resource for recommending representatives from attorneys to mortgage representatives and/or banking institutions, to inspectors and movers, that will represent you well and work in your best interests. Your Realtor should be your go-to resource – before, during, and after the transaction.
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