Whether buying or selling, a real estate transaction is a complicated matter that necessitates careful contracting, negotiating, and oftentimes a very significant amount of financial savvy. As the purchaser or seller of real estate, you will be working with some, if not all of the professionals described below:
Real Estate Transaction -Buyer’s Agent
A buyer’s real estate agent exclusively represents the buyer. This private relationship is meant to protect the buyer’s interests in the transaction and to assure that he or she receives the best purchase price and contract terms possible. A real estate agent can help a buyer analyze property sale data, lend professional expertise, conduct open houses, and handle all the paperwork and legwork that is involved in a real estate transaction.
Real Estate Transaction -Seller’s Agent
A seller’s real estate agent exclusively represents the seller and protects the seller’s interests in the same way that a buyer’s agent protects a buyer’s interests. A seller’s agent has many functions. The agent will work with the seller to make their property as appealing as possible to potential buyers. Once this is done, the agent will market the property, using his or her familiarity with the local marketplace to their client’s advantage. A seller’s agent will also help a seller negotiate the most favorable price and contract terms for the sale and will assist in the closing of the transaction.
Real Estate Transaction – Attorney
Regardless of whether you are on the buying or the selling end of a real estate transaction, it is a good idea to be represented by an experienced real estate attorney. If you are a buyer, your attorney will examine the results of a title search for problems and will review your mortgage documents to make sure that the rates and fees you are quoted are reasonable and fair. As either a buyer or a seller, you will find that the services of an experienced attorney are most useful when it comes time to review and if necessary, revise the contract that solidifies the real estate purchase. A competent attorney will make sure that all of her client’s interests are protected and that her client understands all of his contractual obligations.
Real Estate Transaction – Mortgage Broker
Over 80% of home loans issued in the United States today are negotiated by mortgage brokers. Borrowers use brokers to navigate the sometimes daunting maze of paperwork and decisions that go along with selecting a suitable mortgage. For borrowers with poor credit records or unusual financial histories, finding a lender may be difficult. A mortgage broker, having specialized knowledge and access to multiple lending sources, will be a valuable resource for these people.