Allison was looking for a condo to purchase. Allison found the one she wanted. The seller offered owner financing. He stated that she could obtain the best deal without using a real estate agent. Allison wanted it so they signed a contract. She paid the down payment and closed on the condo. Everything was going smoothly. About 2 years later, she received a notice about her job being terminated. Allison immediately informed the seller about the situation. He was shocked to tell Allison that she would lose her condo if her 30 day late payments were reached. Allison didn’t realize that the contract she signed for the purchase of the condo was a lease contract, which doesn’t transfer legal title until the entire sale price is paid.
Marc and June were searching for something bigger, and June found it. They must sell their home first. They decided not to use a realtor. Their house was still available for sale after three months with no offers. The cost of maintaining the house on a popular home site and the newspaper ads was quickly adding up. They were also taking a pay cut every time they had to leave work to show the house. The house June had wanted was then sold. This really discouraged June. She didn’t want to continue trying to sell the house and decided to cut the losses. They sold the house and everything. They might try to sell it again.
These scenarios are common in the United States every year. These are the reasons for this article. This information will give you an overview of all the benefits and advantages of working with a real estate agent when selling or buying a home.
It would be untruthful to say that many people are able to buy or sell a home without the help of a realty agent. The overwhelming majority of people fail to succeed, according to statistics. Feedback statistics show that people regret not having a realtor represent them.
The bottom line in the case of Allison is that any new real estate agent would have seen this as a land contract right away. It is not illegal and gives the buyer all rights except legal title. A realtor would quickly have noticed the severe penalty for late payments. Allison would have been warned by an agent to think carefully about whether this was a good deal.
Marc and June were wrong in June’s case. They wouldn’t have spent one cent advertising. They wouldn’t have had to miss work. They wouldn’t have to worry about selling the house. They would have had a better chance of selling their house quickly, even though nobody can guarantee it. They would have bought the house June wanted.
It is a huge investment to sell or buy a house. It is often ranked as the most important event in life. A real estate agent’s knowledge, experience, and expertise are valuable assets.
FURTHER HOME BUYERS: Many people avoid realtors because of the negative stereotypes associated with sales. You can find car salesmen and women in insurance sales as well as the woman behind the counter at a department store’s fragrance counter. Many salesmen and women are rude, pushy, overbearing and untruthful. They will press you for a commission or say anything they want.