If you’re looking at buying or selling an Edmonton home, your Edmonton real estate agent can give you an in-depth education about the home-buying process.
Your real estate transactions are probably some of your most significant financial investments you’ll ever make; in today’s market, that usually involves over $250,000. With such a significant amount of money at stake, you’ll want to minimize your risks as much as possible. In order to give make your investment as lucrative as possible, you’ll want to find the most informed and honest REALTOR® you can.
Before selecting your Edmonton REALTOR®, you should know that not all real estate licensing is created equal, and only members of the NATIONAL ASSOCIATION OF REALTOR®S® can accurately be referred to as REALTOR®S®. These distinguished individuals are characterized by the following four qualities:
- REALTOR®S® are required to attain an unusually high understanding of the real estate market.
- REALTOR®S® must adhere to a high Code of Ethics be committed to honesty and integrity with each transaction.
- REALTOR®S® can be identified by the REALTOR®S ”®” trademark on business cards and other marketing materials.
- REALTOR®S® maintain a high percentage of homebuyers’ repeat business, with 84% saying they would use the same REALTOR® again.
If you’re unsure of why using a REALTOR® is so important, consider the following aspects of real estate transactions and how REALTOR®S® can help:
1. Buying Power
Taking into account your savings, income, debt, and borrowing capacity, your Edmonton REALTOR® can recommend the Edmonton lenders who are most qualified to help you secure financing and determine a suitable price range to help guide your search.
2. Home-Search Resources
In addition to listings available to the general public, your Edmonton REALTOR® has access to properties that aren’t being advertised quite yet. These investigative capabilities can enable you to make an offer on the home of your dreams before the competition even knows it’s on the market.
3. Property Information
Your Edmonton REALTOR® can provide you with helpful community information about utilities, zoning, schools, and the like, that can help you determine not only a property’s suitability to your needs but also its potential for investment and resale.
4. Negotiations and Inspections
In addition to price, financing, terms of sale, and repairs, your Edmonton REALTOR® can create a thorough purchase agreement that allows enough time for home inspections while providing guidance you need to secure those services.
5. Property Evaluation
Before you make it yours, your new home may need inspections to check for various potential problems, such as asbestos, structural damage, dry rot, or termites. Not only can your Edmonton REALTOR® help determine what investigations should be considered for your property of choice, but he can also connect you with professionals who will provide thorough reports.
In addition to securing your own inspections, your Edmonton REALTOR® will ensure that you attain a preliminary report on your desired property’s title and help you sift through issues such as access rights and identify any issues that might be problematic.
6. Financing Options
Your Edmonton REALTOR® can explain various types of financing possibilities and recommend local lenders that specialize in your option of choice.
7. The Closing Process
As you prepare to close the deal on your new home, your Edmonton REALTOR® can help you to know what to expect and ensure that the closing process goes smoothly.
After the offer has been drawn up and signed, it is usually presented to the seller by your real estate agent, by the seller's real estate agent, if that's a different agent, or often by the two together. In a few areas, sales contracts are drawn up by the parties' lawyers.