Closing

When it is time to settle on the property, you will want someone to represent you. The way closings work varies around the country, but agents will always be familiar with the process and be able to help you so it moves smoothly.

Hazard Alert

A good agent can also alert you to potential hazards in and around your home, including lead paint and asbestos to name a couple.

TERMS TO KNOW

Agent

A licensed representative given power to act on behalf of another, who provides information, advice, and assessment of current market conditions.

Broker

A person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them. See mortgage broker.

Buyer's agent

An agent that represents the buyer in the real estate transaction.

Real estate agent

A person licensed to negotiate and transact the sale of real estate on behalf of the property owner. See agent.

Real estate broker

An agent who buys, sells, or rents real estate for a company, firm, or individual on a commission basis. The broker does not hold title to the property but generally represents the owner.

Think & Do Reminders - Using an Agent

Pros & Cons of Using an Agent

Make an itemized list of how an agent could help you in your search.

Pros:

• Help find houses
• Negotiate
• Closing help
• Knowledge of area

Cons:

• Work for seller
• Limited to listings in their agency (sometimes)
• Cost

POP QUIZ - The Search

Question:

List ways to find out about houses

Home Comparison Chart...

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