Friday, May 29, 2009

Before You Sign That Real Estate Contract

After investment option , landing a real estate contract on a good property was one of the most sought in America for some time and then the slow down happened.

Now days real estate scene is not as hot as it was during the days of rapid property appreciation, sellers still need to find buyers for their homes and still transactions are happening in the market.

If you are like a lot of Americans, you may hate the negotiation process of such a high value asset.

You will have to negotiate with some buyers on certain issues. If you are really determined to sell your house.

The Buyer will almost always offer you less than the listed price.

Sometimes buyers fall in love with their houses during the negotiation process , so make a counter-offer so that you can live even if it seems like you are too far apart.

Firstly , decide whether you wish to handle all the formalities of a real estate contact by yourself or wish to hire a real estate broker. You will save a lot of money if you don't hire a real estate agent as they charge about 4%-7% commission on the contract amount.

Will you be able to afford a new home right now? The home loan that you are planning to pay off has a lower interest rate the mortgage you will get on the home purchase? Do you have a financial ability to pay an increased monthly installment?

One more factor is behind home selling which plays an important role in it.

If you are moving to a new home in another state, you probably do not have any other choose but to sell your existing house. Double check your logic , If you have simply found what appears to be a great deal on another property.

Your feelings and emotional attachment with the house don't matter to the buyer, the current market price does.

So make it a point to ponder all the issues prior to seeking that real estate contract.

Do not forget to checkout Real Estate Forms

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