Real Estate - FAQs
Real Estate - Frequently Asked Questions
Why should I use a real estate agent?
A real estate agent is more than just a "sales person." They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home. Due to the fast changing market, the data on available listings is not 100% accurate. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.
There are two types of agents, "Buyer's Agents" and "Seller's Agents." It used to be common for all parties involved to work for the seller, hence the term "Seller's Agent." Nowadays, you will most often find a different type of agent, the "Buyer's Agent." If you are in the market to buy, it would be advisable to use a Buyer's Agent. They can make recommendations on what terms and prices to offer as well as negotiating a deal with your best interest in mind. If you happen to be working with a Seller's Agent, never disclose to them the top dollar you are willing to pay for any property. Keep it narrowed down only to things that you would tell the seller directly.
What is a Real Estate Broker?
A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affiliated with the "National Association of REALTORS®" (NAR). They follow a strict code of ethics beyond state license laws and also sponsor the Multiple Listing System (MLS), which is used to list houses for sale.
What is equity?
Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home.
If you're buying a home and don't have very much money for the down payment, you may want to find out if the seller would be interested in "sweat equity." This would allow you to perform the labor on any needed repairs and maintenence to the home, (such as outside repairs, painting or electrical work) in exchange for credit towards closing costs.
Is an older home as good a value as a new home?
It's a matter of personal preference. Both new and older homes offer distinct advantages, depending upon your unique taste and lifestyle. New homes generally have more space in the rooms where today's families do their living, like a family room or activity area. They're usually easier to maintain, too. However, many homes built years ago offer more total space for the money, as well as larger yards. Taxes on some older homes may also be lower. Some people are charmed by the elegance of an older home but shy away because they're concerned about potential maintenance costs. Consider a home warranty to get the peace of mind you deserve. A good Home Warranty plan protects you against unexpected repairs on many home systems and appliances for a full year or more after you move in.
What should I think about when I'm deciding which community I want to live in?
Good city services, nice parks and playground facilities, convenient shopping and transportation, a track record of sound development and good planning-these are just a few considerations that are important to many people when they choose a community in which to live.
As for individual neighborhoods within a village or city, there is no better source of information than Exclusive Buyer Agents. We know the people and the communities we serve, and chances are we can help you find a neighborhood that really fits your family's needs.
Where can I get information about local schools?
Again, we are your best source. We know where the local schools are, and can provide you with valuable information about school districts, including test scores, extracurricular activities, bus service and more. If you're relocating, we may even be able to put you in touch with teachers and principals when you visit the area.
Should I be present during the inspection?
Yes. It's not required, but it is very much to your advantage. You'll be able to clearly understand the inspection report, and know exactly which areas need attention. Plus, you can get answers to many questions, tips for maintenance, and a lot of general information that will help you when you move into your new home. Most important, you'll see the home through the eyes of an objective third party.
Remember, the purpose of a home inspection is to help you learn things about the home that are not easily discoverable during your home-buying tour. The home inspection is NOT INTENDED to be a "Laundry List" of cosmetic issues or very minor repairs for Sellers to repair or replace. It is not intended to be a "weasel" clause to get out!
Contact our Orlando Real Estate Broker
If you or someone you care about is considering buying a property in Orlando or within the Central Florida area, make sure you get the advice of someone who knows the market and that is committed to his/her clients. Contact us today! We provide the personalized attention larger companies can't offer! We are available at (407) 574-4339. You may also fill out our online form and we will contact you shortly!
