Buying Process

Reasons for working with just one experienced condo expert…

Friday, January 30th, 2009

It’s likely the biggest purchase you will ever make, so why should you be surprised that it’s complicated! Read on, and save yourself some aggravation…

An agent who lists a condo is not necessarily an expert in the condo market.

Three basic reasons for finding and sticking with one condo expert?

  • finding the right unit
  • making an offer to purchase
  • and most importantly, closing the deal.

Make sure that your agent is upfront about doing the following work, either for you or with you!

Finding the right unit:

  • provides immediate access to the latest information about all the available listings in the buyers preferred neighborhood and pre-approved price range
  • focuses search on desired amenities
  • sets up, manages, and is present at all property showings
  • informs buyer of condo association details relevant to any offer to purchase
  • offers specific answers to any of your questions

Making an offer:

(First, be aware that to make an offer on a listed property, either a Realtor® or an attorney must complete state approved forms. In a for sale by owner transaction, whatever two consenting parties agree to is a legally binding agreement.)

  • explains the condo association’s Executive Summary, the buyers’ five day right to rescind, and factors in any relevant market conditions
  • competently explains the language of, and writes the offer to purchase contract
  • presents the offer to the listing agent, and then handles all subsequent negotiations, counter-offers, or required amendments, consistent with professional real estate practice

Closing the deal

  • keeps the buyer informed, after the offer is accepted, of dates and obligations to the contract, including loan commitment and earnest money
  • recommends inspectors, is present with the buyer for inspections, and answers any questions about the inspection report
  • assists buyers with details of closing, date and place to be determined by buyer and lender
  • is present at closing