The real estate consultants are indispensable professionals conducting real estate transactions to serve their clients. Now the steps that these real estate transactions comprises would depend on the customers in question, and their needs. However, all said and done, all these transactions have a beginning and a definite end, if everything goes as per the plan. On this page, let us discuss the steps a real estate agent will take while helping out their customers.
Listing the Home on Sale or Search for the Perfect Property
They would put his or her property up for sale and the buyer would look for the ideal property that he or she can buy. Hence, the buyer has to have a pre-qualification letter from the lender, which will state the amount of money the individual can borrow for purchasing the property and the amount of down payment that has to be made. It is the responsibility of the real estate agent in Australia to look into this entire matter, and see if the documents are in order.
Weighing the Offers
This is one of the most crucial stages in the entire deal and the real estate consultant in Victoria has a crucial role to play. As the buyer has his or her real estate agent prepare a sales agreement, it has to have everything in detail in regards to price, terms as well as timelines the buyer wants to offer. Again, the buyer’s agent will see if the property price is properly listed. However, the listing price is not necessarily the price of the home that the buyer has to pay.
Negotiations
This is supposed to be the scariest and the most crucial part of the entire transaction and the buyer’s Real Estate Consultant in Fitzroy has an extremely crucial role to play. The seller has the authority of reviewing the offer and following it up with counter offering with the terms and price. Now whether the buyer will agree to it will largely depend on the real estate consultant. The real estate consultant will weigh all the pros and cons of the offer and will suggest to his client whether to agree to the offer or pitch for a lower price. If the buyer’s agent pitches for a lower price, it is up to the seller’s real estate agent to agree to it or follow it up with a counteroffer. Therefore you see, it is basically a tug of war between real estate agents of the two sides.
The Lawyer or the Title Company
The buyer or seller of the real estate property has the right to select the title company or retain an altogether separate representation. Again, it is for the Real Estate Consultant in Carlton to help the buyer in this. The buyer will pay an initial deposit, termed as ‘earnest money’ and will give it to the title company that will hold the amount in their non-interest account till the deal is finally closed.
Inspection, Appraisal and Repairs
This is the next and the final state of the transaction, where the real estate agent will inspect on behalf of the buyer, and ensure that the home justifies the price that the seller wants the buyer to pay. The professional will look for the pitfalls and will suggest repairs after getting a report from a third party appraiser.
Finally, it is the responsibility of the real estate agent to prepare all the closing documents and close the deal following the final payment of the amount.
Therefore, all throughout the deal from the start to the finish, these real estate agents play a very crucial role in buying or selling real estate properties. So if you have plans to sell or purchase a property in Victoria contact Investing in Properties as we are amongst the best. Call us at 03 8583 9101 or email us at nfo@investinginproperties.com.au .
