Buy a home:
- Buying a home can be done with or without a real estate agent.
- Usually if you want to buy a home, first you make a conditional offer to a seller for the purchase of a home.
- In reply to a conditional offer, the seller might make a counter offer instead of simply refusing the conditional offer.
- Then the buyer and the seller, or the representatives, such as lawyers of each other, can undergo the negotiate process to see if they can make the deal.
- Under normal circumstances, purchasers can move into their newly purchased homes on the closing day of the transaction.
- On the closing day, the purchaser will pay the remaining balance of the purchase price in exchange for the deed to the property and, usually, the keys to the home.
Sell a home:
- Selling a home can be done with or without a real estate agent.
- Selling your home without the assistance of a real estate agent could save you a substantial amount of money. Although you will have to cover your own advertising costs, they may amount to much less than the commission payable to a real estate agent. Despite the cost savings, however, selling your own home require a large amount of time and effort, and you may not end up getting as high a price for your home as you expected.
- Selling your home through a real estate agent, though more costly, has a number of benefits.
- First, real estate agents usually have the expertise and resources to determine the fair market value of your home.
- Second, real estate agents have access to a wide pool of prospective buyers.
- Selling your home with a real estate agent will generally involve signing a listing agreement. However, the commission payable to the real estate agent for a multiple listing will be higher than the commission for an exclusive listing.
- Your decision to sell with or without a real estate agent will usually depend on how busy you are, how quickly you need to sell your home, and how good your own marketing skills are. If you do decide to sell your home without an agent, a real estate lawyer can assist you to review offers to purchase and draft any counter offers.
