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Realestateagents and loan officers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. I had the opportunity to discuss some common questions people have about the appraisal process with Massachusetts realestateagent Kevin Vitali.
Successful realestate investors know that skipping key stepslike conducting thorough market research, preparing the right organizational documents, and ensuring high-quality marketing exposurecan lead to costly delays and missed opportunities.
Finding the Right Piece of Land A realestateagent can be an excellent resource for where to look, and if you find the right one they'll both help you throughout the process and protect your interests. If you are not working with a realestateagent, you may want to hire a realestate lawyer.
This is where a good realtor will also provide essential disclosures such as any potential influences like power lines, train tracks or easements that might be in place. Remember, a well-prepared listing can make all the difference in a competitive realestate market.
Any easements or encroachments – any part of the property should be accounted for to get the most accurate estimate of the land value. You may also want to speak with your realestateagents about your appraisal preparation.
Any existing easements or zoning issues. Whether you are a property owner, realestateagent, mortgage broker or lawyer, we can provide quick and accurate home appraisal services. They are not assessing décor or any feature that is considered removable. Lot: Size and topography of the lot. View (including negative views).
It documents ownership, vesting, and detail regarding anything recorded against the home, such as liens, encroachments, or easements. The legal description The legal description is everything you won't see in any realestateagent marketing or advertising. Easements.
With a PUD, homeowners have an easement and rights to use the common area through their HOA membership. Sometimes the info is right in a property profile, which is very easy for most realestateagents to obtain through their preferred title company. What is a CID?
In many cases, a known easement or encroachment or even pending land use changes can be considered latent defects. Realestateagents have certain obligations as well. While a listing agent might not have the same firsthand knowledge as a seller, they cannot misrepresent the home.
Problems regarding fence repair, retaining walls or easements can often bring a neighbor into your home sale process. Don’t Believe These 5 Myths About RealEstateAgents. Even if you don't have a plan to sell now, it's good practice to maintain a friendly relationship with the neighbors.
Ryan’s blog focuses on local realestateagents and market conditions, a most excellent method of becoming the “go-to” appraiser and getting lots of referrals from agents. I first started writing a realestate column in the local newspaper back in the late 1980s but did not like it.
RealEstateAgent Commissions This is the biggest part of your likely closing costs. In Texas, the standard practice is to give each agent a commission of 3% of the purchase price. With both listing and buyer’s agents, this alone costs 6% of the purchase price. Every house sale requires a survey.
It should be noted that not every state uses due diligence fees in realestate transactions, so it is important to consult with your realestateagent so they may educate you on the legal implications of a housing contract. Due Diligence: What Is it?
If that happens, your realestateagent will have to negotiate with the seller to see if they will bring their sale price down to $350,000. If you are selling your home through a realestateagent, your agent can accompany the appraiser and tour them through the home. Who pays for a Home Appraisal?
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