Buying and Selling Your Home

For most people buying and selling your home is one of the biggest financial investments we make. Transactions today can be well into the hundreds of thousands of dollars, if you had a legal question that involved that much would you deal with it without an attorney, or a tax question without a CPA? Considering the overall small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

Using a REALTOR® gives you the assurance of using a professional that is committed to treating all parties honestly and that subscribes to a strict code of ethics of the NATIONAL ASSOCIATION OF REALTORS® and that is expected to maintain a higher level of knowledge of the process of buying and selling a home. Every agent with TODD REALTY is a member of NAR® and is here to assist you with in buying or selling your home.

But if you’re still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your Todd Realty Agent can help you determine your buying power — that is, your financial reserves plus your borrowing capacity. If you give a Todd Realty Agent some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders — banks and mortgage companies — offer limited choices.

2. Your Todd Realty Agent® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your Todd Realty Agent can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your Todd Realty Agent® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your Todd Realty Agent provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your Todd Realty Agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your Todd Realty Agent can help you in understanding different financing options and in identifying qualified lenders.

7. Your Todd Realty Agent can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your Todd Realty Agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your Todd Realty Agent markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your Todd Realty Agent markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your Todd Realty Agent acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your Todd Realty Agent will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your Todd Realty Agent will generally prescreen and accompany qualified prospects through your property.

11. Your Todd Realty Agent can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing — a lot of possible pitfalls. Your Todd Realty Agent can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your Todd Realty Agent can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your Todd Realty Agent is the best person to objectively help you resolve these issues and move the transaction to closing.