Buying or Selling Real Estate

Real estate agents may represent a large national chain or be associated with a smaller personal broker in the area. Find a real estate agent that is knowledgeable in both the type and style of home and location of homes you are interested in looking at. Real estate agents can help you with the entire purchase process from locating a home, negotiating the terms of the purchase and helping you with financing, insurance and a reputable title company to insure your title and bring the transaction to a close.


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The first step in any real estate purchase is figuring out a monthly and overall preferable budget based on today’s interest rates and your personal goals and to obtain a pre qualification letter from your lender for stronger negotiating. Not all lending companies are created equal. Interest rates are not the way to select a lender. There are many costs that need to be reviewed. Obtain a good faith estimate from a couple of trusted/referred lenders and ask your realtor to review the gfe for accuracy. Once you’re pre approved for the loan amount do NOT go buy a new car or open new credit accounts. It will wreck your credit rating and your pre approval rating. Don’t open any new lines of credit before you
close on the property.

Once you have obtained the lender letter you and your preferred agent can start narrowing down the details of locations, style, size and price range that meets your needs and desire. Your agent will show you homes that meet your guidelines and that you wish to see. Be reasonable in your expectation of the homes you are shown. If you are looking for something that may have some equity built in, ask your realtor about short sales, hud foreclosed or lender owned homes. If you want something ready to move in, then expect to pay a little closer to the asking market price

Once you select your home, your agent will determine appropriate market value, prepare an offer to purchase, present the offer, negotiate the terms and price and finalize the paperwork and required disclosures between seller and purchaser.

Insuring your home is part of the purchase process. Lenders require home insurance on the day you become the homeowner. Ask your realtor for a referral. There are many points of discussion and choices to be made to obtain the right policy for you. If the insurance policy is based on price alone, you may be without riders that could be of benefit to you.

Congratulations, at this point, you should own a home!

Real estate agents sell 94% of houses in the market place.


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In addition to a strong marketing and advertising plan and helping you with staging your home, your real estate agent will help you with ideas on improving the marketability of your home possibly increasing the value you may obtain and shortening the time you will remain on the market. Buyers need to feel comfortable about their purchase of your home. A pre-inspection of the home can help give the buyer a good feeling and it can prevent any surprises from a buyer’s inspector after you are in an agreement to purchase the home. Common home inspections cover everything from mechanicals to electrical function. Some of the most common electrical problems may include outlets with open ground, reverse polarity, GFIC outlets, double tapped wiring, out dated main fuse box and missing covers. For more information on these conditions go to Realtors section on PDQ

The first two weeks are crucial in selling a home. Your home must be priced right and look sharp upon its initial entry in to the market place. Setting the appropriate market price, professionally staging your home and having pre-inspections can make the difference in how long your home remains on the market, the value you will obtain from your investment and the success of completing your sale without additional surprises.

Classical Realty
225 Green Meadows Dr S Ste B
Lewis Center OH 43035
Phone: 614-367-0668
Fax: 614-474-1760
Info@ClassicalRealty.com

www.ClassicalRealty.com