11.07.11
Posted in Brandon MS homes for sale tagged Brandon MS real estate agents at 7:00 am by Mississippi Real Estate Agent
You might be scratching your head right now wondering why in the world you would want to hire a real estate agent when you’re buying a Brandon MS home for sale by owner (FSBO). You may even have the misconception that real estate agents can’t work for you if you want to buy a FSBO. That’s not true.
Real estate agents can represent your best interests when purchasing FSBOs, just like they do when purchasing homes listed with a real estate agency. You get the same service from your agent whether he or she is helping you buy a traditional Brandon MS home for sale or a FSBO.
Here are three benefits to working with a real estate agent when buying a FSBO:
1. It could save you thousands of dollars.
Most people consider buying a FSBO because they fall in love with the house, not because it’s a great price. In fact, the majority of FSBOs are priced at or above the actual market value of the home. Why is this? Home owners are novices at pricing homes, their information is typically out of date, they don’t have access to the sales prices of all homes in the area, and they don’t have the technology needed to accurately process the data.
When you hire an agent, you gain a considerable advantage over the seller when negotiating the price. Agents are experienced negotiators, and they have the sales statistics to support their requests.
Some proponents of selling your Brandon MS home for sale by owner argue that you’ll pay more because you have to pay the agent’s commission. In this buyer’s market, all homes including FSBOs take longer to sell. If a homeowner is serious about selling, and the home has been on the market for a while, the seller more often than not agrees to pay all of part of the real estate agent’s commission.
2. It’ll save your sanity.
Sellers have an emotional and personal attachment to their homes. They frequently take it personally when buyers want to negotiate. Without an agent, it’s you and the seller pitted against each other. Emotions often flare, which could prevent you from getting the best deal possible or could cause you to lose the opportunity to buy the house altogether.
3. All legal issues and paperwork will be handled by the agent.
The process of buying a house is complex. Your agent will guide you through the entire process including the negotiation, inspection, re-negotiation (based on findings during the inspection) and closing. He or she also will make sure all legal issues are considered and handled appropriately, and all paperwork required to buy the home is properly completed.
If you’re interested in buying a home, whether or not it’s a FSBO, I’d like to help you. Call me today at 601-942-3392 or email me at Paula@KeyTrustProperties.com.
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
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Brandon MS real estate agents
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11.04.11
Posted in Madison MS real estate tagged Madison MS real estate sellers at 7:00 am by Mississippi Real Estate Agent
With Daylight Saving Time turning back the clock this month, sellers having trouble going the for-sale-by-owner route should take a hint from Father Time: Set aside the time to “fall back” on helpful connections and get your Madison MS real estate sold.
Your for-sale-by-owner home is probably clear of clutter and staged to perfection, so why aren’t buyers lining up to take a peek? If it’s not the price, then it probably means you need to take a look at your marketing. The tips below will guide you on how to take some time to fall back on local connections and reach out to more people.
- Connect through all your communities. Networking online through real estate sites and social media platforms are a good place to start, but don’t stop there. Utilize all of your connections by emailing friends, close coworkers, social groups and any other contacts from activities in which you participate. Also, talk to neighbors because they’ll be the best advocates for getting someone they know and like to move in down the street.
- Ask a friend to do a walk-through. It is always valuable to have a fresh set of eyes to notice the things that you’ve gotten used to, such as old hardware, a yard in need of attention or a wall that could use a fresh coat of paint. Also, if you have pets, make sure you ask a friend without any pets to give your home a quick sniff. Lingering pet smells are always a turnoff for potential buyers.
- Reach out to an experienced Madison MS real estate agent. While this may seem counter-intuitive for a for-sale-by-owner seller, this is actually a great avenue for reaching potential property purchasers. Real estate agents have buyers, and if you offer a commission, they might send them your way.
Selling Madison MS real estate is harder than it seems, so make sure you’re utilizing all of your resources and get the selling advantage. And if nothing seems to be working, then you might want to seriously consider hiring an agent.
Please call me at 601-942-3392 or email me at Paula@KeyTrustProperties.com if you’re finding it hard to unload your home for sale.
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
Tags:
Madison MS real estate sellers
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11.02.11
Posted in Madison MS real estate tagged Tips for Madison MS Home Buyers at 7:00 am by Mississippi Real Estate Agent
Just because you are not in the position to get a home loan right now doesn’t mean you’re out of the housing market. Here are three ways to obtain Madison MS real estate now without immediately getting a loan:
1. Option to Purchase
An option to purchase is just that – you pay an option fee for the right to purchase Madison MS real estate at a later date (usually 1 to 3 years) at a predetermined price. There is no rental agreement with this option.
This can be used if you are expecting to be able to qualify for a home loan at a future date. You are not obligated to exercise the option if you change your mind; however, the option fee is not usually refundable.
One of the benefits of an option to purchase is that you may sell the option to someone else if you choose. This is a way to recoup your option money should you change your mind or if you are unable to purchase.
2. Lease with Option to Purchase
This is also called a lease option. It’s generally for a term of 1 to 3 years and includes a rental agreement.
As with the option to purchase, you pay an option fee for the right to purchase the Madison MS real estate at a later date. In most cases, the option money is not refundable and is generally not applied to the purchase price.
During the option period no one else can buy the home and you cannot assign the option to someone else. You must exercise your right to purchase before the end of the term or the option is lost.
With a lease option, a portion of the monthly rent goes toward the purchase of the home. The rent is usually higher than a normal rental for this reason. You are not obligated to exercise the option if you change your mind.
3. Lease Purchase
With a lease purchase, you ARE obligated to buy the home so make sure this is what you want to do before signing a Lease Purchase Agreement. You are generally going to pay market to above market price for the home.
You pay the seller an option fee for the right to later purchase the property. The option money may be substantial. The option fee may be used toward the down payment, but this must be negotiated prior to signing the agreement.
During the term of the option, which is usually about 1 to 3 years, you agree to lease the property from the seller for a predetermined rental amount, at which time you apply for bank financing and pay the seller in full. Just like the lease option, a predetermined amount of the rent is commonly applied to the purchase price.
If you fail to fulfill the Lease Purchase Agreement, you will lose all the money you have paid plus the seller can take you to court to get the balance of the agreement.
With all options, I highly recommend the use of a real estate agent as well as a real estate attorney. With a lease option or lease purchase you want to do all the things you would do in a traditional sale. This includes all typical inspections and definitely a title search to make sure the home has no liens or encumbrances.
For more information on how an option works or if it is right for you, give me a call at 601-942-3392 or email Paula@KeyTrustProperties.com.
Paula Ricks Broker/Owner, REALTOR®
220 W Jackson St, Suite 200, Ridgeland MS 39157
601-942-3392
www.PaulaRicks.com
Tags:
Tips for Madison MS Home Buyers
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