When it comes to buying or selling of real estate property, both the buyers and sellers have numerous queries and uncertainties. They direct this questions to their agents, advocates, and financiers to have a better grasp of what the market entails. It is wise for both the sellers and buyers of real estate properties to iron out the grey areas. As we all know, ignorance is no defense and most of the time it can be very costly. Below are some of the queries that investors have when they are aspiring to buy or sell their homes.
Many buyers and sellers usually want to know the duration that it would take to sell a home. For cash home buyers the sale can take about a week or two if the buyer is satisfied and ready to sign the sale agreement. However, where the property is financed using other instruments such as loans, the process may take a month or a month and a have if it moves very fast. The sale of a house can go up to ninety days for that is the duration allowed by law.
Another common query is usually the cost of hiring a real estate agent to facilitate the buying or selling of a home. In addition, the buyer and seller may incur if it is necessary to hire an agent. A reputable agent has got many tools to locate property and to determine the condition of the property. Additionally, reputable agents have good the training, skill, and experience needed to close deals faster and at the best rates. The amount paid to the agent is usually worth it most of the time because they save on time and can negotiate for better prices for the property. Since they are aware of prevailing market conditions, they will suggest the best prices. The fee charged will be three percent of the purchase price or mortgage contingent on the services offered. It can be higher.
Others want to know if they should sell the house they are currently living in before purchasing a new one. If the house proceeds will be used for down payment of the new house, it would be advisable to first sell the old house before embarking on buying the new one. However, if the buyer has other sources of financing, the old house can be rented out to provide rental income. You can view here for more real estate questions.
There are those buyers who usually wish to know that the first step to buying a house is. It is important to secure mortgage financing approval before approaching an agent or a seller for the purchase of the house. This will give confidence to the agent as well as the seller. More so it will reduce the time that would take to transact in the buying or selling a real estate property.
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