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How can I get out of a real estate contract when I priced the property too low and really feel it is a mistake to sell it?
Number one thing is to step back and think objectively talking to your listing agent. Hopefully, you did use an experienced Realtor to help you set the price. If a home is priced correctly, you should expect to have interest and offers early. You may have to wait a while before you get another similar offer. When a home first goes on the market, you get both the people who’ve been looking for possibly weeks or more plus new buyers just starting.If you truly want to get out of the contract talk to a real estate attorney. As a seller contracts really don’t give you much out unless a buyer defaults. If this your homesteaded home, you may be able to avoid being forced to sell but could be held liable for buyers costs and possibly damages. Your home may even be held up from being sold to someone else. If you have a listing agreement, you may be responsible for commissions.Think carefully, then talk to an attorney.
How do real estate agents help you to buy and sell your property?
Defiantly its there job. A real estate agent work for behalf of you. But you need to choose a good one who real love his job and nature of kindness. if your really gone hire to some one so you need to focus some points which really a real estate agent need :Select a shortlist of estate agents: Ask in your family, friends, and neighbors. it’s always good to have a personal suggestion.Make sure the agent has experience of selling property like yours • and the best way to do that is to check there are properties similar to yours in the window.After they value your property ask them to explain their reasoningReal Estate agents charges between 1% and 2.5% +VAT for a sole agency agreement of the price at which you sell your home. So check the prices and negotiation first. Try to get agents to compete on costHow will they market your property? Just ask or check Which portals are they using?. Accurate Valuations: Call 9020 1494
How likely is it for me to win a lawsuit where a seller wants to back out of a signed commercial real estate offer/contract?
Obligatory legalese: I’m not a lawyer and you should consult one for legal advice.Generally speaking, if you have performed as specified in the contract, including putting in deposit, removing any applicable contingencies, and informing seller of your intent to close, then I think you have a pretty good case.However, in practical terms, it’s not clear if you should go to court. Lawyers are expensive and, depending on the contract and the state you’re in, you may not be able to get back your expenses, even if you win. And any case, even a winning one, is going to take a long time to complete, is it really worth your time and aggravation?
How do you get started in real estate and flipping houses?
Flipping houses is not as simple as buying a cheap investment property and then selling it for a higher profit. Here are steps to help to get you started:1. Find a TeamThe first thing every real estate investor have to do is surround yourself with professionals. Professionals can reduce costs and help to maintain schedules by using their own network. Working with a great team of professionals will make the entire house flip go more smoothly and efficiently. In addition, building a good team will ensure handling any issues and problems that may arise during the flipping process. Some professionals that you’ll need in your team include:A construction contractor to consult on rehabilitation workA realtor who’ll help in finding homes that need rehabAttorneys or title agents to facilitate the proper transfers of title.A rehab lending contact who can handle pre-qualifications and credit issues.An accounting contact to handle and explain tax impacts and reconciliation.2. Create a PlanThe next step is to create a flipping business plan with definable goals, strategies, analyses, and funding. This can help you figure out how many projects you need to complete to achieve your goals and will encourage lenders to take you more seriously. It will also prompt you to work out the details of your exit strategy. A good business plan should include a goal summary, market analysis, financing sources, marketing and sales strategy.3. Find an Investment Property to FlipThere are a lot of opportunities available for a real estate investor looking for a cheap investment property to flip. Usually, these properties are cheap because they need a lot of renovations or because they’re foreclosures. Some ways to find such properties are:Hiring a real estate agentJoining real estate investments groups that refer properties to each otherAligning with a wholesalerReviewing lists of upcoming foreclosure salesDriving around neighborhoods looking for properties that may be worthwhile.4. Buying a House as an Investment PropertyBefore buying an investment property to flip, you have to keep in mind that you’re buying the house for profit. No matter how good the property looks, make sure you can make money at it. Thus, as a real estate investor, you have to research and analyze the all of the costs involved. This includes the purchase price, title, closing costs and the cost of the actual rehabilitation. The next thing to calculate is the investment property's true ARV (after repaired value). Moreover, have an exit strategy clear in your mind, and stick to your plan.5. Fix and FlipThe next step after buying the investment property is the rehab. Make sure your contractor is licensed and capable. Be present and don't leave it up to someone else to safeguard your property and your money. In addition, be careful about your choice of decor - make sure that walls, counter-tops, flooring, etc. will appeal to the majority of buyers. Be careful not to inject your personal taste into a house that will be someone else's home! The property needs to appeal to the buyers, not the flipper.6. Selling the HouseOnce you’ve finished rehabbing and renovating the property, you need to sell the investment property quickly to. So, start marketing to ensure finding a buyer as fast as you can. In addition, when pricing the investment property, ensure that the selling price is enough to cover the purchase price, the costs of renovations, and makes a profit!For more information on anything real estate, head over to Mashvisor. Hope this helps and happy flipping!
How many fees/costs are created by hiring a "real estate professional" to sell or buy real estate?
There is usually a commission charged or flat fee, depending on services rendered. Three is no set fee or universal answer to this question. The better question is whether the fees charged are worth the professional services rendered. The old adage, you usually get what you pay for applies in real estate as in most things. And since this might be the largest financial decision a consumer may make in their lifetime, professional guidance and advice as well as service as a fiduciary is often well worth the fees for that service. (Disclaimer: I am a hard working REALTOR and throughout my career have worked hard and earned my keep!)
Given all the real estate sites out there (Zillow, Redfin, etc.), are traditional real estate agents really necessary to buy or sell a home?
No! or Yes! depending on you…If you are a “do it yourselfer” than is looking to save a dime here and there by using your own “expertise” on things then give it a go.Seller - Statistics say that the “for sale by owner” will get around 9% less than an owner that uses an agent. Completely understandable since “if you are not being represented then people will expect a discount out of a non professional…think of it as Craigslist vs Macy’s in the buyer’s mind.” It is no different than if you took your car to a car lot and the dealership gives you an insulting price for your car then mark’s it up 30% when they put a sign on it and stick it out front.There is also the legal side of things. There are literally dozens of things you can either say, not say, disclose, not disclose that can land you in legal jeopardy.Buyer - I just don’t know why you would not use an agent’s help since you do not pay their commission.There are also many discount brokerages that take very little commission. My opinion here is that you will get the service typically pay for. If you want somebody to walk through every possibility with you, discuss and answer question at all hours and be the only one you need to work with, then you will pay for that. If you are ok, with speaking to multiple people, going to your own open houses, waiting for answers, paying additional for services beyond the package listed and always being reminded that you are only one of many…then a discounted service may be for you.
I'm a real estate agent in India. Can I buy and sell real estate of US and Canada to my Indian clients legally and earn commission?
As a real estate agent and mortgage branch manager during the US mortgage 2022 meltdown, I was desperate to to get leads and tried buying some for both businesses. One of my better sources was a marketing call-center from India that was efficient, relatively cheap and legal.If you have a marketing/lead generating company, going through the right channels, then you can collect marketing fees.I'm uncertain if you can receive a real estate referral fee across international borders unless you work for one of the multinational brokerage corporations, though.
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