Finding the right property for you could be a very frustrating experience. You can get property overload easily by viewing too many properties. The best way I find to eliminate a lot of wasted timed viewing properties, that do not fit your criteria, is by using an agent.
With the advent of the Internet, searching for real estate has become easier. Many times the property you see online may not tick all, or most, of the boxes on your list. Many times you don’t find that out until you actually view the property.
Real estate agents have access to information you do not. They have access to new listings that may not appear on MLS as yet, they may talk to other agents that know of properties that fit your criteria, etc. In short, they should do most of the leg work for you and come up with a short list of properties that you may be interested in viewing.
Finding an agent you can work with may take a little work initially, but once you find an agent you are comfortable with, they will save you time and money.
From the beginning you need to communicate to your agent exactly what you are looking for in a property, what your renovation budget is and what you want to pay for a property. If the property is a long term, or even short term flip, your agent should be able to supply you with the information you need to make an educated decision about the potential of the property. If I am looking at a specific property my agent will supply me with the following.
Average buyers profile: In other words, what type of people are typically buying in that neighborhood, families, young professionals, etc.
Buyers criteria: What are those buyers looking for, and expecting, in that neighborhood that would help in their decision to make an offer on a property in that area.
Average selling time: How long does the typical home, with a fair market value, take to sell.
Comparables: This will be a list of properties that sold in the last year similar to the property you are looking at. These should be a list of properties that sold at the top of the market and why they sold for top dollar. Also ask for comparable on properties that have been on the market well over the average time and why they are not selling.
Average appreciation: How much does the average property appreciate in value per year. You should use this to determine a projected selling price.
Other variables: What if anything would influence property values in that neighborhood for the time you will live in the property. These could be new development projects, or lack of, crime rates, etc.
There are other ways to find real estate, and you can do some leg work yourself. Use the Internet, MLS listings, local newspapers, real estate booklets, for sale by owner signs, etc. In the end I always get my agent involved by getting him to do the research for me before I view a property.
In conclusion a real estate agent can give you the information to make the right decision that you may not have access to. As well they will save you time in finding a property that fits you criteria, thus saving you money. A good agent will work hard for you because you may be repeat business for him or her.Immobilienmakler Heidelberg Makler Heidelberg
Source by R.M. Power