Professional bangkok realtors save time and effort. After the escrow closes, your home will be turning over a gazillion phone calls. Mortgage companies, canopy companies, and escrow companies will have prospective buyers as well as just plain old Homeowners. Realtors will expect you to provide repairs and upkeep to your property at least as fast as the first week they can get to your purchase contract. And buyers will expect you to fix what they expect you to.
So, the questions we’re suggesting are not so much different from those you would encounter walking in your front door as a first home buyer, but more so, the points that you don’t know about until after you already have a contract on your home!
Skill 1: Processes escrow and close your transaction
You will hold two levels of trust: the seller and the lender. The seller can place a conditional mortgage on the property. He may require that the property also be free from all defects. And the down payment is usually paid in advance while the seller provides a portion of the proceeds in a lump sum when the sale is completed.
He or She can also approve your loan, and the first mortgage lender will usually provide an appraisal of the property even before you offer it.
Skill 2: Negotiate
It’s not so much a topic of discussion that you think. Most of us have been in the home buying and selling world. We know how to make the deal work. We know what information to reveal or not to reveal in order to get the deal we want. We’re good at it.
And the same way you would fare in a game of monopoly, your reacting skills will really make or break the no-money deal.
A good negotiator is more than one who simply promises to the seller a replacement of a defect he finds in the property or when he is paid through the escrow agent. A good negotiator is a negotiator who doesn’t promise anything. He does not have to. He lets the current owner do the bulk of the negotiating.
The seller wants his or her price reduced. The buyer wants his or her price paid. A good negotiator looks for win-win situations and only wants what is in the best interests of both parties.
A good negotiator gets a win-win because he is flexible, sensitive to the needs of the seller and the buyer, and stands ready to move quickly. He doesn’t give an inch until he has resolved the problems.
Skill 3: Winning the competition
You have won before for your first time in the market. Isn’t it unfair that after you have done all that work, the sheriff might come knocking on your door to execute the sale?
Spend a little time researching the competition. What’s the next homeowner to sell his home? Make sure you are as competent and professional as possible.
For example, does the property have any addendums that can be outstanding? A property deed that can’t be transferred? Ask the current owner and his agent about these, because these terms have to be disclosed and included in the sale.
Ask for the names of all the agents involved in the sale, how many escrows they close per year, make sure you know those facts, and start establishing yourself as the next homeowner.
When you savor your victory, you will be able to show the seller that you can handle the sale of his home and get paid for your services.
Skill 4: Recognizing what works and what does not
A home is as good as marketing. Put a sign in your yard that will clearly show your hours, the hours that week, the hours you will work. Have photos taken by a professional that accentuates the best attributes of your property? Create CMA’s and have them in mind when other appraisers do a drive-by. Your signs should also be placed in places easily seen by passing drivers. Your CMA should be on your HUD-1 statement. Better yet, place it on your yard sign. The point is to show the seller that you know what your property is worth.
Understand that a ready, willing buyer will always make a steady stream of offers to a seller who has just listed a property. Be sensitive to the time of the market and be willing to wait to get the property at the best price.
Skill 5: Completing paperwork efficiently and accurately
Completing paperwork for a freehold sale may take longer to complete than selling the same property as a lease option. But that should not or may not be an important factor for the seller, given the owner’s time constraints. Ask your agent or that question. Does the property have a conveyance, a lot of paperwork, and I ask you, do you know the answer?