When home buyers come to our real estate office in Lake Havasu City, Arizona, many have never purchased property in Arizona. Real estate laws vary from state to state, and buyers often have no idea what to expect during the transaction. We also have buyers who have never purchased property. To help our clients feel more comfortable about the entire transaction, we like to explain, ahead of time, the process of a typical residential real estate contract in Arizona. If you are the prospective homebuyer, first talk to a lender. Should you need to find one, ask your real estate agent to provide you with a list of proven lenders. Find out what you can afford. There is no reason to waste your time looking at property that is out of your price range.
…show more content…
Over the next few weeks, she would sell my home in five days, for $42,500 more than my asking price. And she would help me find a beautiful replacement home though my budget was small. In addition, my real estate agent negotiated a contract that would allow me to stay in my old home for two months until I bought a new home and could move in. And she was upbeat and informative throughout the stressful process of selling and buying a house. Here's what I looked for in choosing the best real estate agent for me, my home and budget. 1. Agent Commission Budget was my biggest concern. I knew my house would sell for around $600,000. If I hired a traditional real estate agent, who would charge a 3 percent commission, I would pay $18,000 for my agent, plus another 3 percent for the buyer's agent. A total of $36,000 in real estate commissions. On the other hand, if I hired one of the new real estate firms, I would cut my agent commission down to 1 percent, saving me $12,000. But driving around the city, I saw that homes listed by new real estate firms usually lingered on the market longer. And I wanted a quick sale. One of the agent's I interviewed from a traditional real estate company offered to discount his commission by 1 percent should I hire him to represent me in both the sale and purchase of next home. This way I could work with a traditional real estate office but still save $6,000 in agent commissions. But by asking around, I discovered a better deal. I found a traditional real estate agent who offered a special discount to employees in my husband's company. The promotion netted her many referrals, allowing her to cut her commission while still offering excellent service. Though I paid her a 3 percent commission for handling the sale of my home, she offered me a 3 percent rebate from the commission she would earn on handling the purchase of my next home. In the end,
Over the next few weeks, she would sell my home in five days, for $42,500 more than my asking price. And she would help me find a beautiful replacement home though my budget was small. In addition, my real estate agent negotiated a contract that would allow me to stay in my old home for two months until I bought a new home and could move in. And she was upbeat and informative throughout the stressful process of selling and buying a house. Here's what I looked for in choosing the best real estate agent for me, my home and budget. 1. Agent Commission Budget was my biggest concern. I knew my house would sell for around $600,000. If I hired a traditional real estate agent, who would charge a 3 percent commission, I would pay $18,000 for my agent, plus another 3 percent for the buyer's agent. A total of $36,000 in real estate commissions. On the other hand, if I hired one of the new real estate firms, I would cut my agent commission down to 1 percent, saving me $12,000. But driving around the city, I saw that homes listed by new real estate firms usually lingered on the market longer. And I wanted a quick sale. One of the agent's I interviewed from a traditional real estate company offered to discount his commission by 1 percent should I hire him to represent me in both the sale and purchase of next home. This way I could work with a traditional real estate office but still save $6,000 in agent commissions. But by asking around, I discovered a better deal. I found a traditional real estate agent who offered a special discount to employees in my husband's company. The promotion netted her many referrals, allowing her to cut her commission while still offering excellent service. Though I paid her a 3 percent commission for handling the sale of my home, she offered me a 3 percent rebate from the commission she would earn on handling the purchase of my next home. In the end,