Should we Use a Title Company or an Attorney at Closing? – Nati Horev – Post 1+ 2
#EntrepreneuroftheWeek Nati Horev # Post 3+4
Post 3 – Broker in Sale-
So first of all we interviewed some realtors and found the one that impressed us and we seem to get along with the most.
The first step is to decide on a price-
The broker will prepare a Market analysis for us, which is basically a market study that combines all the recently sold and similar properties in the area of our property.
And when the property is ready for sale – the realtor photographs it and uploads it to MLS – which is the largest property search software in the United States.
Do not give up on him and demand a professional photographer – people buy with their eyes, and nowadays if someone comes to see your house it is after they have already “seen” it in the pictures then it is actually a second or third or tenth show – do not be tempted by agents who take pictures with the iPhone!
At this point you start to come and see the house and he makes an Open House and you receive an offer – the agent will go over it and send it to you and explain to you exactly what you are signing and what you promise to give.
The agent will also go through with you the PICRA – which is the list of issues the buyer asks us to address, after he has done his testing.
The agent will take care of the completion of the transaction from the beginning to the end where you sign and receive your money.
It is important to note in the US the broker does not receive money until the deal is closed – never pay the agent before.
One little story about how important an agent is (even though I have a thousand stories)
I have now bought a house with my client
FSBO- For sale by owner
Not only will he price the house lower than he could have received (the market has changed a lot in recent months) also in my negotiations with him I was able to get him to do lots of things that were not needed – paint the house, replace carpets, sand floors, repair cabinets and of course bring Termite clear letter. Everything is written in the contract and signed by both parties – my customer the buyer, who has never been home or in the area did not understand my happiness 😊
When the bank’s appraiser arrived, he would price the house for $ 35,000 more than the price my client paid !!! Of course if they had taken a broker it would not have happened – and the broker would have cost them much less than they lost, and for sure they would have come out with over $ 20,000 after his cost and more money from the repairs they spent for free.
So do not be they go with an agent!
Closures from the recent period
Post 4 – Closing company or a lawyer and why?
رائد أعمال الأسبوع ناتي حوريف # بوست 4
So you have reached the end and now you have to choose a closing company or a lawyer even though they both do relatively the same thing there is one very essential difference! If something gets complicated and things can definitely get complicated … a lawyer can lend you your case and a closing company will refer you to a lawyer who will cost you money.
Since the payment is almost the same between the years you will always prefer a lawyer.
Another thing, if the other party in the transaction uses the same lawyer, you will replace a lawyer … If there are problems with closing, he will not be able to accompany either party.
When you reach the end, in case you buyers will offer to buy Title insurance-
So what exactly is it and why is it important? Title insurance
This is the warranty on your property, this is a one-time payment in direct proportion to the value of the property that insures you for the entire period you hold the property, in case someone comes and has claims. They check that the property is clean and the property can be purchased without objections and assure you that if there is a problem they take the responsibility.
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