Real Estate Blog – Condotron

Condos – Properties – Real Estate – Mortgages

19 Jun

How do you break up with the real estate agent

Posted in agents, Real Estate on 19.06.12

top_rated-real-estate-companiesWhether you are buying or selling home, the process is quite long and tedious. Along this process, you might find out that your working relationship with the real estate agent is not doing you any good. Maybe the real estate agent does not listen to you or making moves that are not in line with your plans. Or maybe you are just not comfortable with each other. If you want to break up with the real estate agent, here are some tips:

Buyers

Agents will be making some commission if they are able to convince you to seal the deal for a certain property. Usually, as a buyer you are not obliged to go into a financial or contractual agreement with an agent. There will be agents though that may ask you to work with them exclusively.

If you are not ready to be tied down with exclusivity agreements, you will be better off not to handshake with such agents. You might be a year or a few months prior to to buying a home and you just want information and know the details but there will be agents who will be pressing you to buy a certain property. Do your homework and be firm with your gameplan. You just need to be honest with an agent if you do not like what they are doing and give them some feedback.

Sellers

As a seller, you are required to sign documents with the brokerage firm. Just like buyers, you need to do homework. You should review the contract well. Remember that you can say no to showings or open houses. You should also not be required to sign anything with any buyer. As the seller, you should be in power.

Any good agent will release you from any obligation if you are not happy with his or her services. There will also be times when an agent might ask to be from your agreement especially when you insist to keep the price of the property way too high. Remember that any contract can be terminated with mutual consent.

tags: , , ,

No Comments »

18 Nov

Should you sell your home thru a real estate agent or sell it yourself?

Posted in Real Estate on 18.11.11

When you have come to that decision that you will be selling your home, you need to decide next whether you will be selling it yourself or will you be using the services of a real estate agent. Let us weight the pros and cons:

Real estate agent

The agent will be asking for a commission if they sell your home. This boils down to giving them around 3% to 6% of the sale. It could be a big amount to handle especially if your home is around the $500,000 price range.

Real estate agents though know the ins and outs of the market. They have access to different resources which you do not have. They also have a good list of serious clients seeking to buy properties.

An agent can inject some objectivity into the selling process and guide you to see it in a right perspective. Their professional experience and opinion can help you price your home appropriately. Aside from the guidance, they will do all the footwork for the legal aspects of the home selling process.

For Sale By Owner

If you will be selling your home yourself, you need to consider a lot of things. First, a lot of buyers veer away from homes being sold by owners since they want to avoid any problems transacting with amateurs. You will also be prone to aggressive negotiations since the potential buyers know that you will not be paying any agent a commission. It takes some guts to sell your own home.

If you will be selling your own home, make sure that you do your homework well. You can tap services too like learning resources to know the basics of selling or advertising your property on a website. Once you put your home up for sale, it will be a product buyers want to examine inch by inch. Screen visitors that you will entertain, and get relevant information for your safety. Be ready to show people around your place by hosting an open house every weekend or as your schedule permits.

No Comments »

28 Aug

Warren Buffett lists tips for home buyers

Posted in Mortgages, Real Estate on 28.08.11

One of the most respected men in business gives home buyers some tips to adapt to the changing landscape of the real estate market. We can surely learn a lot of lessons from this tips coming straight from billionaire and philanthropist, Warren Buffett:

Smart way of owning a home

As a homebuyer you need to thin of three things: long term ownership, affordable monthly payments, and fixed mortgage. Buffett was asked how his holding for manufactured housing has done well in the rough market. The business guru shared that they focused on realistic down payment and opted for manageable fixed monthly installments based on the buyer’s income. These elements blended well so people can keep their home unlike other schemes which led to foreclosures and the mortgage bubble burst.

Your dream home may lead to a nightmare

Buffett also cautions homebuyers that trying to purchase your dream home that will have a very high monthly with an adjustable rate mortgage may mean a dream that leads to a bad ending. Warren Buffett explains that a dream house can be a terrible nightmare when the buyer is looking way beyond what his wallet can manage and when a lender gives into the fantasy of the buyer.

Homes will increase in value is still true

Buffett was invited in in Congress for an interview and for him to share his thoughts about the mortgage bubble burst. He said that the “liar loans” led to the economic crash because lenders and borrowers corrupted the basic premise of how prices of homes will go up and that it will never go down. Lenders allowed unqualified buyers to get homes or multiple properties which are way beyond what their bank account can handle.

tags: , , ,

No Comments »

20 Mar

What To Watch Out When You Are Buying A Home: 2

Posted in Real Estate on 20.03.10

bank-ownedNow that we have touched on why buying a bank-owned home might not be the best idea in the world, let’s move onto another reason why and that is the down payment.  Typically, when you purchase a home, that is something that you can talk about and it is typically like 5 to 10% down, however if you are buying a bank-owned home it is usually 20-25% down.

This is money right off the bat for a home that you do not know if it needs repairs.  Is it worth it?  To me, it is not.  Only because I think that there are is a lot of other options and I think that home owners are flexible with their price and if you give them a fair price they will give you a fair deal.

Keep this in mind whenever you are out looking for a home – I can promise that if you rush into the decision you will regret it.

tags: , , , ,

No Comments »

19 Mar

What To Watch Out When You Are Buying A Home: 1

Posted in Real Estate on 19.03.10

bend-oregon-bank-foreclosuresPurchasing a home is a very, very big decision and it is one that should never be rushed into and never taken lightly.  However, that seems to be exactly what is happening to a lot of people, they are actually rushing to get the very best rates and the lowest mortgages, however it is not exactly the best plan.

In the next couple blogs, we are going to talk about why you do not want to take advantage of the prices that bank-owned homes are giving off.  For one, you never know exactly what you are going to be getting, as you can usually just see the home from the outside as you are bidding on it.

Stay tuned for some other reasons, you might be extremely surprised!

tags: , , ,

No Comments »

13 Feb

Fixing Your Home Up On A Budget: 2

Posted in Real Estate on 13.02.10

home-improvementsNow that we have talked about air filters and such, let’s move onto damaged caulking and some dirty tiles.  These two things are super easy to fix, all you have to do is head to the hardware store and chat up some of the employees.  Even if you are not handy, you can get a lot of information from these people that work in hardware stores and they are a fantastic resource that you should be using.

To be perfectly honest, caulking is super easy, all you need is the caulk and one of the machines to push the caulk through and you are all set!  Fixing dirty tiles is also extremely easy, all you need to do is brush them off and even go over them with some white vinegar.

White vinegar is a great agent to kill a lot of germs and to brighten and whiten those tiles right up.

tags: , , , , ,

No Comments »

12 Feb

Fixing Your Home Up On A Budget: 1

Posted in Real Estate on 12.02.10

iStock_000003213541XSmallWhen it comes to owning a home and fixing it up, the costs can get extremely costly and if you are like many of us out there in this day and age, you are probably trying to save a little bit of cash.  Well, that is what we are here for, to make sure that you are saving all of the money that you can, especially on things like home repairs!

One of the first things that you should check is the leaky faucets that you have around the house.  This can honestly be just a matter of tightening up something in order to fix them and there – you just saved yourself a plumber coming out and doing that for you.

You can also change out the air filters in your home to ensure that you have fresh and healthy air circulating throughout the house.  More in the next blog!

tags: , , , ,

No Comments »

01 Nov

When It’s OK to Back Out of a Real Estate Deal: 2

Posted in Real Estate on 01.11.09

tenant 2So, when is it okay to break the deal? If the house of your dreams has any debts, it may not be a good idea to keep your offer in the pot. At the very least, calculate how much you will be left paying.

If you find any structural damage, that’s it. Do not worry about any deals, just get out as close as possible. No real estate deal is worth the health and safety of you and your family.

You also need to make sure that the location suits your needs.

For that matter, the size of your house needs to suit your needs as well. If you are looking to buy a cute house but plan to expand your family … well, thinking for the future is always smart.

tags: ,

No Comments »

25 Oct

When It’s OK to Back Out of a Real Estate Deal: 1

Posted in Real Estate on 25.10.09

tenant 1I know, I know, the title of this series of posts may just have caused a gasp of horror from readers, but it’s true — sometimes it is okay to back out.

These are worst case scenarios, however. This is why people who are selling and renting so often want to make sure that you see the property before anything is signed. Up to that point, you can still back out and leave them in the lurch. However, due to the often subversive and deceitful nature of real estate doings, sometimes landlords, sellers, brokers, and real estate agents are perfectly happy to leave you in the lurch as well. That is why it is important to realize that, yes, sometimes you can back out of a deal.

tags: ,

No Comments »

23 Oct

Facing foreclosure? Don’t pack just yet

Posted in Mortgages, Real Estate on 23.10.09

Facing foreclosure? Don't pack just yet Across the country, we all know that banks are starting to foreclose on many homes and homeowners are left without a word of explanation.  The banks seem to be taking the homes without so much as a warning and it is happening everywhere – form Ohio all the way to NY and from NY all the way to Florida.  It seems that foreclosures have become increasingly popular and there is no way around it.

If you are a homeowner that is faced with foreclosure – there are a ton of things that you can do, you just need to know exactly what to do and what they are.  The first thing you need to realize is that you are not alone.  There are so many people out there that have faced foreclosure and have gotten through it and you can too.

In the next blog, we are going to talk about some more ways that you can handle foreclosure if you are faced with it.

tags: , , , ,

No Comments »