Usertheprince
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« on: December 03, 2008, 07:36:14 AM » |
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If I wanted to buy a piece of property, Would I be better off to hire an real estate agent?
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Chandra157
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« Reply #1 on: December 03, 2008, 09:44:34 AM » |
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It depends on how hard you want to work at buying that property. A real estate agent will have you believe that they can get better pricing but the fact of the matter is that you will end up paying more for the property by using the agent. They can charge up to 30% of the value of the property as fees for locating the property for you. It's just as easy to go online to locate the property you want to purchase and then work directly with a lender to make your purchase.
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Sophie_B
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« Reply #2 on: December 03, 2008, 11:57:51 AM » |
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Most of the time you are better off with an agent, they take care of the paperwork, and it's easier to bargain, if someone else carries the offer...
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knoelle12
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« Reply #3 on: December 03, 2008, 12:46:05 PM » |
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Yes you would be better off with a Real Estate Agent. First, an agent is theoretically more qualified to write, explain, present and negotiate a contract for purchase. Second, when you are a buyer, having an agent doesnt cost you any money. The agent is paid by the seller. Third, a real estate agent will be able to run a comparative market analysis to assist you in offering the best price for negotiation purposes.
Take advantage of having a professional who knows and understands real estate laws in your state. Take a look at this site for a little more info on purchasing homes and the benefits. Also on the realtors page, there are some points to look for in an agent. great resource! www.fasttrackhomeowner.com
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Chris_D
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« Reply #4 on: December 03, 2008, 06:29:55 PM » |
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it depends on your situation. If you already know which property that you want to buy and they do not have it listed with an agent, then do not hire an agent. That would be a waste of money. You can negotiate yourself. If you do not know exactly what property you want to buy, then it would be good to get a real estate agent to help you find a good deal. You do not have to pay him. The seller pays the commission to the agent. If you have your own buyers agent, then he will get half of the seller agent's commission. Right now is a great time in the real estate market to buy, if you can get the banks to give out a loan.
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bpl
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« Reply #5 on: December 03, 2008, 07:28:15 PM » |
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To be honest, I always tell people they are better off using a realtor. If you are buying real estate, their fees are coming out of the sellers take anyways. Realtors, or at least good ones, can offer great insight in the area of sale, and can make a purchase much easier. They will walk you through the process, recommend other services such as lenders, property inspectors, and attorneys. Overall, a realtor will be able to make your purchase much easier. Plus, with MLS access, they will be able to find properties that were just listed and have the ability to network better with others in the business.
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Brent
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« Reply #6 on: December 03, 2008, 07:31:19 PM » |
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Yes, use an agent. A good agent is worth their weight in gold. A bad agent is a nuisance.
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Ace
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« Reply #7 on: December 03, 2008, 07:49:17 PM » |
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In most cases the real estate agent works at no cost to the buyer. The smart thing to do is to use the services of a real estate agent. Buying a piece of property is serious business. A real estate agent takes several classes and then continues learning on the job. The real estate agent is very knowledgable about real estate law. Since you have not studied real estate a seller can actually sell you a piece of property along with the debt associated with the property. For instance you can unknowling buy a piece of property along with the tax debt for that property. If the tax debt on the property is $15,000 then you now owe $15,000. It can happen. This is only one way. Another way you can get taken advantage of is the seller can sell you property that is not his, or there are other owners of the property. In this case you don't own the property.
This is just a few reasons why there are real estate agents. A real estate agent knows how to protect you. The real estate agent works for a broker. The broker has a advanced knowledge of real estate.
My advice to you is to use a real estate agent. It's usually free because the seller normally pays the cost and the real estate agent will not let you get taken advantage of.
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kemperk
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« Reply #8 on: December 03, 2008, 08:01:14 PM » |
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it depends; if you know the seller
if it is a tax sale
if you have cash
if you are an appraiser
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no
otherwise, find an exclusive buyer's agent or
at the minimum, a buyer's agent, NOT just an agent.
and under NO circumstances whatever, should you
accept a dual agent relationship with any agent!!
[thus, never allow an agent to show you any listing
from their office]
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Sharon_T
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« Reply #9 on: December 07, 2008, 04:43:40 AM » |
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If you have to ask this question, you probably do need a good agent.
It takes many transactions to build up the expertise to be able to know whether a piece of property is something that will meet your needs. You've got to check into utility availability, will it perk if there are no sewers available, what does it cost to hook up if it is available, and so on.
Most of all, you have to be willing to ask questions and talk to the proper city or county departments, hire a surveyor, engineer, etc.
If you do want to find a good agent, call a surveyor's office and ask who is good in your chosen area. Usually they are from a small office that works mainly with land.
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