When you buy a home, you may not think about yourself as a real estate investor, but that`s exactly what you are. This means that you should consider your purchase more than just one place for you and your family to live. You should ask questions such as whether the home is likely to increase in value while you own it, and how future interest rates might affect you and your investment. You`ve found it — the place where you can call home! It`s time to make an offer. The offer to purchase (also known as a purchase and sale agreement) is a legal document prepared by your real estate agent or lawyer. Before listing your home, you and your agent and seller sign a list agreement. This is a contract between you and your agent and seller. It gives the agent and seller permission to list your home, describes your obligations as a seller and defines the agent and seller`s obligations, commission fees and the deadline for the sale of your home. The agreement will also tell you if the offer is a multiple list or an exclusive list.
Your agent is required to provide you with a copy of this list agreement. Always keep a copy of the agreement in case of litigation. If you are buying a home, you must decide whether you want to buy by yourself or work with a professional, such as a real estate agent. A real estate agent and their sellers can help you buy a home. As this is one of the most important transactions you can make, it is important that you take the time to choose the right agent for you. Your real estate agent or seller will meet with you to understand your needs and help you determine a price. They take photos of the property to prepare a list, and list the property for you, either on a multiple listing services (MLS® Systems) or as an exclusive offer. If your property is listed on MLS® system, the offer is accessible to anyone who wants to buy a home. If your property is considered an exclusive offer, potential buyers are directly transferred through your seller or agent. But it also means that your offer is visible to fewer buyers. Before you accept an exclusive offer, ask your seller about their experience and the success rates of these types of offers and how they want to market your home for you. Your agent will also help stage your home properly so that it shows well, and will coordinate and manage open houses.
The agreement and completion date are when all relevant documents are exchanged by counsel for the parties and the sale is concluded. This is the date on which the seller must give the buyer free possession of the property. Real Estate Seller: Works for the broker and helps buyers and sellers navigate the process of buying and selling a home on behalf of the agent. You must be authorized by the NBTF. The address of the citizens of the property to be acquired is this: once you have chosen a real estate agent and a seller with whom you wish to work, you can sign a contract through the purchasing agency.