My fence in Your yard…

IMG_0813

I’m just going come right out and say this as clear as I can…if you are not exactly sure of the boundary lines and the location of all improvements including those tanks buried under ground on a piece of property you are preparing to purchase, hire a surveyor.

One of the most common problems in a real estate transaction discovered after the sale is a boundary line issue.  In almost every case that I have seen a new survey would have revealed the problem.  Most commonly it is a driveway or fence that inches over onto a neighbors land.  In a more extreme case a home buyer  built a home on a lot in a new home community.  All the legal work including their ownership deed and mortgage referenced the purchase of another lot the builder owned.  As a result, they owned a very expensive house situated on a piece of real estate they did not own and it was discovered years later when they decided to sell.

Many buyers rely on tax maps, subdivision plats, plot plans, concrete markers, flags, iron pins , natural barriers and a number of other monuments to identify the boundaries,  In most cases these identifiers are accurate, but in any case a new survey will be a good tool for future improvements and dividing of a parcel.

For more information:http://nsps.site-ym.com/?page=WhenyouneedaSurv

 

Advertisements

Employing a real estate professional

stickey note

Once you have made the decision to buy or sell real property, the next step will be to find the right person to navigate the process for you.  Real estate professionals offer a specialized service, but not all are well rounded in every phase of the profession. The most commonly used services are:

Residential home Sales-At the top of the list for the most commonly used, the buyer and seller should use someone that is knowledgeable of the location they are interested in.

New home sales-Many builders will employ staff to handle the sale.  Can be beneficial and may save money for a buyer as long as you keep in mind the salesperson will not be representing your interest.

Commercial Sales-this is very specific and your agent should come with proven results of qualification in this field. You can search local real estate boards for agents in this alliance.

Land and farm-Another specialty market and I recommend using an agent with a proven resume of knowledge in this phase.

Resort properties-Some may offer onsite sales representatives that can be very helpful since these properties typically have ownership regimes, rules and limited financing options.

Real estate agents make a great effort to build a referral database of past customers and clients.  You may simply find the right agent just by asking family, friends and co-workers for a recommendation.

Always take the time to interview an agent or maybe three. Ask the agent to bring a business resume with references to the interview.  You may also ask for a marketing plan to sell, or a summary of their negotiating skills if you are a purchaser.  You should not base your decision to hire an agent based on the value they presented of a property unless a prepared analysis is reviewed.

During the interview you should discuss the fee for the service and the terms of your employment agreement. Fees are typically paid on a percentage of a sales price, but some brokerage firms offer a menu of services that are a set rate.  An example of a set rate service may be when a buyer or seller already has the negotiations done on a property but needs a professional to take it through the steps to a successful closing.

The relationship between you and your agent should be comfortable and trust worthy.  If it is not that way, you can almost be sure it is a mutual feeling.  Some folks just don’t click.

Real estate laws vary from state to state, and agents are likely to take required continuing education.  So whether the agent is new to the business or a seasoned professional you should be confident that they are keeping your best interest in mind.

Best wishes for selecting an agent that “gets people moving”