SPECIAL SECTION:
insurance (PMI) if you are unable to put 20 percent down on
your home.
3. BUYING:
Getting an inspection can save you money in
the long run.
Inspection fees can range from $300-$500, allowing some to
think they can save money by avoiding an inspection. In almost
all instances, this is false. Many issues in a home may go unseen
by the untrained eye. If an inspector reveals defects not disclosed
by the seller, you are able to negotiate a new offer or rescind
altogether. Without an inspection, these potentially costly issues
would ultimately fall on the buyer’s shoulders.
4. BUYING:
Protect yourself!
It’s easy to get wrapped up in signing papers and lose sight
of what you are agreeing to when buying a home. Fortunately,
contingency clauses can protect you from losing what is yours.
An example is a mortgage-financing contingency; if you lose your
job or your loan falls through, you’ll get your “earnest money”
back in full. Otherwise, you may be obligated to follow through
with purchasing a house you can no longer afford.
5. BUYING:
Enjoy the view?
It’s obvious that homes with a view can sell big. In fact, Realtor.
com states that homes with a view of the city sell the fastest,
with an average of 83 days on the market, while homes with
an ocean view sit for 98 days (mostly due to the elevated price
of oceanfront property). If you are in love with a home with a
view, be sure it is there to stay. Although you may see rolling hills
through your living room window now, who’s to say a real estate
developer won’t see that same space as the perfect opportunity to
build more homes? Check with your local municipality for land
use regulations to make sure your view will remain.
Continued on next page >
Real Estate
IMPORTANCE OF
A LOCAL REAL
ESTATE AGENT
You wouldn’t undergo surgery without a surgeon, or do
a root canal without a dentist, so why would you buy or sell
a house without a real estate agent? Agents have in‑depth
knowledge of local communities, an insider’s view of the
real estate market, and early access into listings that go on
the market. By having a real estate agent on your team, you
can take full advantage of these perks when trying to buy or
sell a home!
Moving into a new community? A real estate agent
is familiar with the lay of the land—from what the
neighborhood is like, to the local hotspots. He/she will be able
to guide you in the decision that best fits your ideal location
and wish list. Making a move into a new neighborhood or
town with kids makes a real estate agent even more necessary.
Agents can provide an inside look into school districts, sports
teams and available extracurricular activities that could be a
game-changer for you and your family.
Having an agent as an insider into all things local is just
one benefit. With access to other real estate professionals,
such as mortgage lenders, home inspectors, attorneys and
title companies, agents are valuable in streamlining the
process of making a transaction. They also have access to the
multiple listing service (MLS) to provide you with information
on available homes. Access to the MLS is restricted to
licensed agents and brokers, providing them with a wealth of
knowledge that they can then pass along to you. This includes
information that sellers don’t necessarily list on public sites,
such as square footage, seller disclosures and HOA regulations.
Armed with facts from the MLS, including comparable
listings in the area, real estate agents can negotiate on
your behalf. They are able to develop an offer that reflects
market value, while still staying within certain budgetary
guidelines. Once these offers are reviewed, agents can make
recommendations from the inspection on repair costs and
how to appropriately counter an offer.
If you are in the market to buy or sell, start by doing some
research on a real estate agency that is right for you. Have new
neighbors? Ask who their agents were. They obviously did a
good job of selling your neighborhood to buyers. If referrals
aren’t available, look for a local office in your neighborhood
or in the neighborhood where you’re interested in moving.
The agency can offer guidance and support throughout the
entirety of your home-buying or selling process.
HAMPTON ❘ SUMMER 2019
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