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FAQ
- On The Real Estate Market:
When should I list my home if we are
wanting a larger home?
You
should list your home before seriously looking for a new home. The
reason is the market is changing once again to a buyer's market, and there
is a rising level of inventory out there. It may take much longer
for you to sell your current home than to find a new home. Once we get an
offer on your current home, we will negotiate a closing date to give your
family enough time to find your next home.
Should you
buy Owner's Title Insurance?
Important Reasons why you should have it (Source: Law
offices of Classic Settlements). It will protect you against these
hidden risks which would not be disclosed by even the most meticulous
search of public records - Forgery, Fraud, Undue influence on a grantor or
executor, False impersonation, Incorrect representation of marital status,
Undisclosed or missing heirs, Wills not properly probated, Mental
incompetence of grantors, conveyance by a minor, birth of heirs subsequent
to date of will, non delivery of deeds, unsatisfied claims not shown on
public records, deeds executed under expired or false powers of attorney,
confusion due to similar or identical names, Dower or courtesy rights of
ex-spouses of former owners, incorrect indexing, Clerical errors in
recording legal documents, Delivery of deeds after death of a grantor.
How
exactly do REALTORS get paid
Whenever
a house is listed with a brokerage firm, the seller of that house (whether
it is a new house or an existing resale house) agrees to pay the LISTING
FIRM a negotiated set fee. In most cases that fee is 6% of the
final selling price. The listing firm then enters that listing into
the MLS database and agrees to pay 3% of the final sales price to any
other REALTOR from any other listing firm should they produce a buyer for
that house. This way, brokerages get to share one another's listings
and can cross sell thus making it easier to sell the property. Only
a very small portion of homes on the marketplace do NOT want to pay
REALTORS. These include small or not so reputable builders who do
not want REALTORS advising their buyer clients and for sale by owners
(who're typically priced too high).
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