Protect Yourself - Tips to Avoid Real Estate Fraud
provided by Realtor.com
Know your home’s value.
Beware of companies offering to buy your home to save you the “hassle” of putting it on the market – these companies often profit at the seller’s expense. Ask several Realtors® in your area for a comparative market analysis, or CMA. These real estate professionals will analyze recent sales and market conditions to provide a realistic assessment of your home’s value, and can suggest strategies for the best sale. Protect yourself and your home. Don’t allow random passersby into your home unescorted. A serious buyer will be working with a real estate professional or should be willing to contact your agent to schedule an appointment. Lock valuables away before an open house – the agent onsite will be monitoring traffic, but it’s impossible to be everywhere at all times. Understand the purchase contract. A Realtor® can help evaluate purchase offers and advise you on counteroffers and contract acceptance. It is important to know how contingencies such as appraisal, financing and inspections will affect the transaction, and understand their implications for you as the seller. Remember, a high price offer is worthless if the buyer never makes it to the settlement table. Hire the right real estate professional for the job. Relying on the experience of a real estate agent makes financial sense. An NAR survey of recent home buyers and sellers found that the median home price for sellers who use a real estate agent is 16 percent higher than a home sold directly by an owner; $230,000 vs. $198,200. |