Every home owner had experience and know the difficult process of buying or selling a home , whether selling it by themselves or with the involvement of a broker , buying a property without seeking a guidance to any real estate advisers or home buying and selling with the help of real estate brokers. Tons of documentation, property check, financial reports, Home inspections; are things you should consider first before deciding to buy or sell a home or property.
Financial obligation and capability of buying a property are one of the major factor or ingredients in Real Estate transaction. Now days we have various ways on how to get or acquire a property depending on the qualification and eligibility of the soon -to -be- homeowner.
These are VA Loan, FHA Loan, Conventional Loan and Cash. The most common is conventional loan or getting a loan from the bank which you have to undergo a credit check and evaluation before you can get the approval letter from the bank. Then after that another process for hiring agents that will help you to find the perfect home that suit your need. Finding a property may take a while depending on the availability of the home on the location you want to live at. When you are able to find the perfect home for you, offer letter must be submitted to the seller and from that, a long process will start again. After Contract Ratification, the home buying transaction will enter Escrow phase. Home warranty (if necessary) and Home inspection will begin. Seller will have the chance to re visit and checked the property for any damage or repair. From this point, a final walk-through must be done, for the final revision and checking of the property and if everything seems fine and go smoothly, then Escrow will do the final touches until the transfer of title is done.
This process will be same for selling a property except for the first two parts, in which seller has to find a perfect agent that will help him market the property and list on MLS (Multiple Listing Service) .
As you can observe , if you are going to buy or sell a property, this process more likely be a nightmare for the first timers specially if they have no idea on the process itself. They tend to overlooked things that are supposed to give high attention when buying or selling a property like hidden damages of the property; includes faulty wirings for the old houses, Mold issues, water damage and other major repairs).
Based on the facts provided, we can make things easily to handle and lessen the burden of the first time home buyers or home sellers. For example, we can have a free support / advice from various brokers to first time home buyers, home sellers or even buying or selling their property by themselves.
Since modern technology is rapidly changing, we can have a free site that will offer free services to those in need because most first timer wants to cut their cost as much as possible.