It’s likely the biggest purchase you will ever make, so why should you be surprised that it’s complicated! Read on, and save yourself some aggravation…
An agent who lists a condo is not necessarily an expert in the condo market.
Three basic reasons for finding and sticking with one condo expert?
- finding the right unit
- making an offer to purchase
- and most importantly, closing the deal.
Make sure that your agent is upfront about doing the following work, either for you or with you!
Finding the right unit:
- provides immediate access to the latest information about all the available listings in the buyers preferred neighborhood and pre-approved price range
- focuses search on desired amenities
- sets up, manages, and is present at all property showings
- informs buyer of condo association details relevant to any offer to purchase
- offers specific answers to any of your questions
Making an offer:
(First, be aware that to make an offer on a listed property, either a Realtor® or an attorney must complete state approved forms. In a for sale by owner transaction, whatever two consenting parties agree to is a legally binding agreement.)
- explains the condo association’s Executive Summary, the buyers’ five day right to rescind, and factors in any relevant market conditions
- competently explains the language of, and writes the offer to purchase contract
- presents the offer to the listing agent, and then handles all subsequent negotiations, counter-offers, or required amendments, consistent with professional real estate practice
Closing the deal
- keeps the buyer informed, after the offer is accepted, of dates and obligations to the contract, including loan commitment and earnest money
- recommends inspectors, is present with the buyer for inspections, and answers any questions about the inspection report
- assists buyers with details of closing, date and place to be determined by buyer and lender
- is present at closing