Buying a home is a significant step. Buyers need good credit and funds to qualify for a mortgage. Understanding 1031 Exchange might help you in the future. Depending on the market, it can take months to finalize the purchase. While a home’s location and price might entice you to schedule a tour, several other factors come into play when deciding whether to make an offer. Many buyers work with a real estate agent to find a suitable property and make a reasonable offer. The information their real estate agent provides significantly impacts the decision-making process. Let’s look at some things homebuyers expect their estate agent to know.
A property’s condition impacts whether you can move in immediately or need to pay for significant repairs before you can occupy the home. The home’s condition also affects your budget. Suppose you’re looking at two houses in the same area. They’re the same size and listed for the same price. However, one home needs a new roof and has water damage inside. That house will cost more because you’ll need to pay for substantive repairs.
While realtors advise buyers to pay for a home inspection, buyers expect their estate agent to know whether the seller would be willing to complete repairs as part of the condition of the sale. Your estate agent may not know how much it will cost to fix the roof, but they should know local property inspectors and contractors who can provide an estimate.
Estate agents should also be familiar with home warranty companies and their services. The best home warranty companies in Texas offer various plans covering appliances and household systems, such as your plumbing, HVAC system, and electrical system. An estate agent might advise you to pay for a home warranty plan covering your appliances and home systems if you’re purchasing an older home with used appliances. Home warranties enable you to manage repair costs because you pay a monthly fee for your plan and a fixed service fee between $75 and $125 for any repairs. The warranty covers the remaining costs. You can also customize your warranty plan to include a sump pump, pool, or septic tank.
Estate agents sell properties, and it’s reasonable for buyers to expect them to familiarize themselves with home details before listing or showing a house. Estate agents typically include this information in a real estate brochure. Brochure templates make it easy to assemble a compelling brochure with pertinent property details, such as the home’s square footage, the number of bedrooms and bathrooms, the type of foundation, and whether the house connects to town water and sewage services or has a septic tank. Brochures usually include photos and a short property description highlighting the design style and unique features that may appeal to buyers.
It’s natural to be concerned if an estate agent withholds information or avoids your questions. Your estate agent should answer your questions, and if they don’t know the answer, they should say so and get you an answer as soon as possible.
Laws vary from state to state, and you should check your state’s laws to verify what information your estate agent’s obligated to provide. For example, estate agents in Pennsylvania don’t have to tell potential buyers if a house is allegedly haunted. In California, estate agents don’t have to disclose deaths on the property if they occurred more than three years prior. However, estate agents must respond if the buyer asks, so listing agents recommend sellers disclose any deaths on the property within the past 36 months. Some people take these issues seriously, and it’s reasonable to expect your estate agent to provide any information affecting your decision to purchase a house.
Realtors represent home buyers and sellers. Buyers expect their estate agents to be aware of maintenance issues and property details. They also expect their estate agents to answer questions about the property.
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