If you have any questions or need more detailed information, please feel free to contact me via phone at 301.613.7253 or fill out the form to let us know how we can help with your real estate needs.
Negotiating should happen throughout an entire real estate transaction.It is not limited to just when you are placing an offer on a home.One of the most important things that a Realtor will do for you is help you negotiate terms to get you the best deal possible.This can include the offer on the home, but he can also help you find or negotiate contractors, lenders, attorneys, settlement companies, contingencies, pricing, etc . . .
Lenders:Sometimes rates can be negotiable.There are all types of lending programs out there, and although Realtors cannot guarantee rates they can try to work with your lender on your behalf to get you the best deals for your financial situation and housing needs.Often times, experienced Realtors have a network of qualified and respectable lenders that they work with that benefit from a long term relationship with the Realtor.This relationship benefits you the buyer in getting the best deal possible.You are not obligated to use the Realtor’s lender, but they can be used as a back-up or for third-party advice if necessary.
New Home Negotiating Strategy:Newer homes tend to be slightly different in negotiation strategies than a resale home.A seasoned Realtor knows the difference in how to approach new home construction and help you find the best new home purchase, if that is your desire.Many important factors need to be considered and asked prior to purchase to include but not limited to the grade of the purchased property, distance between homes, property specs (what’s included, model homes are often loaded with extras that you have to pay more for), and so on.Many of these things are not obvious upfront to the average consumer.It is also important to know the quality of the builder as well.It is not enough that a builder is building several communities in the area, but how well are those homes constructed and last through several years of use is a better assessment of quality.A seasoned Realtor can offer you his advice and experience in this matter.
Attorneys and Settlement Companies:Your Realtor can help you find a title company or settlement attorney to help you settle on your transaction.Usually it is the buyers choice where the settlement takes place.However, the settlement company is a neutral party and represents neither your or the buyer.Your experienced Realtor, although not a lawyer, is adept at understanding real estate contracts.Thomas Powers keeps up-to-date on all the current changes in the real estate laws and contractual changes in his practice areas.
Sometimes it may be necessary to secure a Real Estate attorney.In the Maryland/ Washington DC Metro area settlement attorneys are neutral parties in a transaction.Many people choose to forgo hiring an additional attorney.However, you may desire an attorney to represent you anyway.The Powers Team is ready to help work with you and your attorney to negotiate any contracts you are working through.
Contracts and Settlement Negotiating:There are many points of negotiating in a contract and settlement process.Your Realtor is there to help you with items such as
Price negotiating
Contingencies
Home Inspection items
Home repairs prior to settlement
Conveyances (what comes with the home?)
Contractors:Even after your home is purchased, you will have ongoing needs for your Realtor’s services.A respectable agent is there for you beyond your home purchase and after they received their commission check at settlement.Seasoned Realtors have their favorite and reputable contractors that they work with that will help you with anything from plumbing leaks to home upgrades.Thomas Powers has 17 years working with all types of contractors and has a list of people ready to refer to you when you need it.
Only a few short years ago, even Real Estate Agents did not know what a short sale was! My, how things have changed...
Banks have estimated that the majority of short sales will have been processed by 2014. More than 1 in 4 of all homes are now backed my mortgages that are worth more than the collateral that secures them: the homes themselves!
The Department of the Treasury recently put out a new progam called HAFA (Home Affordable Foreclosure Alternative), which should make things more standardized...
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