How many times have you passed by a home you like and cant help but think how much they are asking for the property and how much will the seller actually accept?
Having a good Agent can help you evaluate the property as well as work with the Listing Agent and seller on negotiating a fair price for all parties. To help buyer Agents determine what the sellers might accept for the property, agents generally look at :
1.) Who actually owns the home (whether a banking institution or a private seller).
2.)How long has the property been on the market?
3.) What have other similar homes sold for recently (usually within the last 3 months)
Once Buyer agents can get a better idea of the sellers situation your Buyers Agent can recommend a fair asking price.
A good real estate agent is going to be key. They will be your go-between, and the person that does all the dirty work for you. You can discuss everything that you are looking for in a space with them, and they can help you find it! Also key is to remember how important the appraisal process is. This process is a bit different from residential appraisal in that it involves a lot more than actual inspection. There is a lot more involved, such as research of the client demographic, zoning records, the price of similar companies, etc..
Another important thing to remember is that nothing is set in stone. When you are working with the owner of the property that you wish to buy or lease, every thing is negotiable. Make sure to voice your needs and concerns so that everything can be worked out beforehand. A Letter Of Intent is what you will file when you are ready to express interest in the property. Your agent will help you to file this paperwork. You are able to negotiate rental prices, terms, expenses, maintenance and repair issues, etc. Think of everything you can before you commit.
Your real estate agent can help you decide what the proper steps will be in your unique situation. There are several different types of leases, and they are pretty confusing. This is why it is so important to have someone that you trust in your corner to help you navigate through this process!
Broker/Owner of Century 21 Scott Myers
(210) 479-1222 or Toll-Free (888) 868-1222