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Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
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Home Page > Finance > Real Estate > Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
Posted: Dec 15, 2006 |Observations: 0
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Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
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Article Source: http://www.articlesbase.com/ – Do You Need A Real Estate Appraiser When Buying A Home Or Condo?
If you are taking into account purchasing or selling a home, condo or any other type of real estate, you will most likely need the services of a real estate appraiser. An appraiser performs an assessment of properties and other types of real estate to help establish its value. Even as there are several methods appraisers use to establish the value of real estate (e.g. cost method, income method, and comparison method), for residential properties, the comparison method (also known as market value) is the most common approach. The appraiser’s job is to provide an opinion about the value of a property based on its “highest and best use.” If you are financing the hold of a property, your lender will normally require an appraisal to make sure that the property is really worth the amount loaned.
The real estate appraiser is tasked with carrying out a completely objective assessment of a property and will normally provide a written evaluation report. This is accomplished by a physical inspection of the property, as well as a comparison to other similar properties for which the value is already established. To make a determination about value, the appraiser gathers details such as the size of a property, size of the lot, location, condition, best use of the property, amenities, etc.
After this early inspection, the appraiser may scout the neighborhood to compare the property with other similar properties in the neighborhood by age, size, price array, etc. The appraiser then gathers additional data from several sources such as the local Multiple Listing Services (MLS), which provides information on current and recent comparable sales. The appraiser also gathers information from his/her own past experience in the local market. All of these sources of information are taken into consideration even as writing the appraisal report, which will provide an estimate about the value of a property.
There are many reasons to use the services of a certified appraiser. When purchasing real estate, an appraisal provides you with a negotiating tool and helps ensure that the price you are paying is apt. If you are selling your property, the appraisal will help you determine an apt price array. Besides real estate and mortgage transactions, you may need to order an appraisal to lower the tax burden (assuming the value is really lower than the value established by taxing authorities), to establish the replacement cost of insurance, to settle an estate, etc. An appraiser only gives an estimate of the value of the property. A real estate appraiser is not to be baffled with a home inspector.
If you are taking into account buying or selling a home, condo or any other type of real estate, you can use the services of a certified real estate appraiser who will provide an estimate of the honest market value of your property.
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Home Page > Finance > Real Estate > Do You Need A Real Estate Agent?
Do You Need A Real Estate Agent?
Posted: Mar 24, 2007 |Observations: 1
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Do You Need A Real Estate Agent?
By: Real Estate Pros
About the Author
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(ArticlesBase SC #121699)
Article Source: http://www.articlesbase.com/ – Do You Need A Real Estate Agent?
Real Estate business has seen tremendous growth and so has been the need of Real Estate agent. Today more and more people are getting interested to become home title-holder and as the demand for real estate need increases the role of Real Estate Agent becomes more vital. In the past one agent use to provide services to both seller and buyer but as the real estate market changed people started to realize that specialized service is more logical and beneficial. In Real Estate diligence now buyer/seller are looking for specialized agents who can provide specialized correlated expertise, information and services required to complete the process. When a real estate agent represents both buyer and seller it really restricts agents to provide impartial service to either party.
Let’s look at the both (Seller/Buyer) scenario separately. A real estate agents who is a listing agent of seller has a fiduciary, ethically and moral duty to represent seller only.
By getting Exclusive Right to Sell Listing, the real estate agent is promising seller that he will live no stone unturned to market the home and find the best buyer at maximum possible market value for the home.
As a Buyer’s real estate agent he need to find the right home for buyer along with should all information of the community. When a buyer is exploring to buy a real estate property in new community, he is very much interested to find out several information correlated to that particular community such as population, crime, climate, schools, traffic, living values etc. Buyer’s real estate agent should be well knowledgeable with all these information so that he can provide that information to buyer. It will be simpler for buyer to make the choice based on these information. Once the buyer is equipped to buy real estate property in the community then other part of the real estate agent’s duty starts. As buyer’s agent it is his dependability to find a real estate property, as per buyers requirement. It is also buyer’s real estate agents duty to negotiate the best market price with seller.
So if seller and buyer are represented by their own specialized agent then both agents can play a incomplete and specialized role for their client..
So it is quite clear that one real estate agent representing both seller and buyer can not justify providing specialized service to both party. Both buyer and seller are in different need of services. That’s why specialized real estate service has become more in demand where buyer/seller can get impartiality specialized service during the process.
Never before has the role of specialists in the world of real estate been more vital. With buyers and sellers requiring more services, the diligence has seen an explosion of agents who specialize in either the representation of sellers or buyers. These specialist agents can provide a wealth of services and maintain a complete impartiality during the sales process as there is only one client to concern them.
Historically the sales transaction and the concerns of the buyer were the purview of a single realtor. But, as the diligence has progressed so have the needs of each party and so the specialist arose. Buyers have some very particular needs, and specifically the need to feel that their best wellbeing are seen to. Listing agents are representatives of the home’s title-holder and in that role they have a primary dependability to that title-holder. How may possibly they properly look after the needs of an interested buyer as well?
So what is it that a buyer’s agent does? Primarily the buyer’s agent will start with the location of suitable properties for their clients. This is usually based upon a list of requirements and desires that the client has communicated to the agent. They will then arrange viewings and recap their findings with their clients and help in deciding upon a excellent candidate for an place forward. This will be based on the wealth of community information that a buyer’s agent orders. As specialists, they are experts on their given area which is critical in the education of clients on the areas that they are taking into account. Once a property is chose upon, the buyer’s agent changes much, evolving into an overseer-negotiator role. They will typically coordinate the inspections and conduct the negotiations with the listing agent. This includes the execution of the buyers subjects and the closing of the actual contract.
There is an art to representing a buyer. It is a role that has become ever more crucial in an diligence where customer service is the single most vital thing that an agent can place forward. If you are in the market for a home then the buyer’s agent is the friend that you need to make sure that you are given the service that you deserve.
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1. Austin Scott 06/04/2010
For near five decades, we at Glenwood Management have been dedicated to improving and enriching the “Quality of Life” offered in each of our luxury Manhattan leasing apartment buildings. Prestigious locations, outstanding views, elegant lobbies and impeccable services are benchmark qualities that have become synonymous with each Glenwood residence.
Glenwood Management is a full service luxury Manhattan real estate organization with “hands on” dependability at each level. The continuity established as title-holder, draftsman and manager for all of its properties has earned Glenwood Management a reputation as the leader in its field. We pride ourselves on providing and maintaining the highest values of living for our tenants. Innovative design, superior construction and meticulous supervision of building personnel distinguish all Glenwood residences.
As we grow, we remain firmly committed to elevating the “Quality of Life” for each one of our residents. We invite you to join the Glenwood family and experience for yourself City living at its finest.
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