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Should I use a Real Estate Broker

Should I use a Real Estate Broker?

Using a real estate broker is a good idea. A real estate professional can guide you through all the details, including financial ones, of buying a home. A real estate broker will be well acquainted with all the important things you’ll want to know about a neighborhood.

The real estate broker will help you determine the price range you can afford and will search the classified ads and multiple listing services for homes in your price range. The broker also has immediate access to homes as soon as they’re put on the market, so your chances of locating what you want increase.

Home Purchase Negotiation Process

Home Purchase Negotiation Process

When you have found the home that best meets your needs, you are ready to make an offer on the house. In most cases your real estate agent will present your offer to the seller. Do not be discouraged if your first offer is rejected by the seller. It is not uncommon for the seller to make a counter-offer.

Once the selling price has been agreed upon by both the buyer and seller, a purchase contract is started. In most cases, your real estate agent will help you negotiate the terms of the purchase contract. The purchase contract is a legal contract that details the final terms for the purchase of the home including price, closing date, and estimates on the closing costs. By signing the purchase contract, it means you have agreed to purchase the property under the negotiated terms and price. Although some closing cost fees are required by law, you can negotiate others as part of the purchase offer.

Buying and Selling Timeshares

Buying and Selling Timeshares and Vacation Plans - The thought of owning a vacation home may sound appealing, but the year-round responsibility and expense that come with it may not. Purchasing a timeshare or vacation plan may be an alternative.

The Timeshare Cost

In calculating the total cost of a timeshare or vacation plan, include mortgage payments and expenses, like travel costs, annual maintenance fees and taxes, closing costs, broker commissions, and finance charges. Maintenance fees can rise at rates that equal or exceed inflation, so ask whether your plan has a fee cap. You must pay fees and taxes, regardless of whether you use the unit.

Timeshare Exchange Systems

About Timeshare Exchange Systems - An exchange allows a timeshare or vacation plan owner to trade units for a discrete time with another owner who has an equivalent unit at an affiliated resort within the system.


Selling a Timeshare Information

Tips on Selling a Timeshare Information - If you want to sell your deeded timeshare, and a company approaches you offering to resell your timeshare, go into skeptic mode:

Time Share Contracts

About Time Share Contracts - Before you sign a contract with a reseller, get the details of the terms and conditions of the contract. It should include the services the reseller will perform; the fees, commissions, and other costs you must pay and when; whether you can rent or sell the timeshare on your own at the same time the reseller is trying to sell your unit; the length or term of the contract to sell your timeshare; and who is responsible for documenting and closing the sale.