Real Estate Investment
Wednesday, February 24th, 2010Let’s speak about some moments in buying of real estate.
Before the beginning of long history…
Be accurately advanced – who (you or the realtor) makes two major operations: search of apartment and closure of a deal/registration. Both the first, and the second business require the professional approach and need time. The realtor learns to work effectively for some months. Evaluate – how many you will win, if will try to make everything yourself, how many thus you expend forces and time.
If you have decided to find apartment for purchase independently and to manage in general without the intermediary, put this business on good qualitative level. Choose the basic information sources where there is a certain chance to find the information from owners, methodically look through and ring out offers. Your first question should be: Is this agency of the real estate? Do not despair if in 99 % you receive the affirmative answer. It is a reality of a current supply with information.
Working with offers …
If you have found extremely successful variant under the price – concern critically. The real estate market is too well informed and is seized that apartments were offered under the price below market at least on a quarter. Probably, in this variant is some problem. Among such problems can be: settling delay, an apartment condition, unsuccessful neighbors and much other.
If your friends have offered you a seductive variant under the price – concern not less critically. Recollect, whether your best friends are capable to present you 5-10 thousand dollars?
Looking through listings of offers, don’t be guided by that your friends have purchased/have sold a flat recently under such price. In any bargain are tens reasons, which are capable to change the price largely. In addition, the price of transaction and an ask price on the average differ on 5 %, and especially they can be distinct from a commercial value
What is to choose – secondary market or primary? This question should be decided in advance. All the same, it is two different histories. In any case, a secondary market is real estate of buildings with the accumulated deterioration, the apartment can be charged by criminal background. New buildings is an insufficient maintenance with an infrastructure, problems with phone, delay of settling and, quite often, absence of furnish. To compare the prices of new buildings and a secondary market, without being the expert, is simply incorrectly.
Let’s speak about the choice of agencies and brokers.
Choice of agents with which you will work is also rather serious business. Recommendations of your acquaintances to account of some broker – it is an occasion to final judgment. As shows experiment, it does not lower the price and does not increase reliability.
Having chosen realtor agency, it is necessary to visit it. Signs of a reliable agency: business relations to you, good equipment of office. Learn – whether your agency consists in any professional association, what obligations it imposes.
It is really very serious task – to buy a real estate and you should be very attentive.
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