Real Estate Articles How to Select a Real Estate Professional – Technical Questions to Ask FSBO Tips - Real Estate Secrets Real Estate Secrets Will Save You Thousands. 1f99 Real estate, like any industry, is full of good and bad practitioners (although I would argue that the range is very large in real estate, simply because the barrier to entry is so low in most states). Here are some technical questions you can ask of the agents you are considering to represent you in your next purchase or sale to increase the chances of ending up with a quality professional: What are the main expenses that a seller typically pays in a real estate transaction? The costs that a seller is typically required to pay when selling a home are as follows: • Realtors' commissions, as negotiated with the applicable Realtor(s) • State transfer tax, if applicable (these vary by state, county and municipality) • Title insurance, which varies depending upon sales price and is state-mandated/regulated • Occupancy escrow, if applicable, as negotiated per the transaction (this is "rent" that the seller pays the buyer to live in the home after closing; this does not exist in all states) • Water escrow, if applicable, as negotiated per the transaction (typically, $200 to $300) • Payoff of any existing mortgages or liens on the property What the various forms of real estate agency that exist? There are a number of agency relationships that can exist between Realtor and client: transaction coordinator, dual agent, and the two most common, buyer's agent and seller's agent (see detailed discussion at http://professionalone.com/buying/agency.htm). The Real Estate Power Buying Plan Now EVERYBODY can get their own land with prices that are DIRT CHEAP. The Real Estate Power Plan shows you how to get your feet. What is title insurance, who pays for it? There are two forms of title insurance that exist in a typical real estate transaction: the "owner's policy," which is title insurance that the seller provides for the buyer (which is paid for by the seller), and the "lender's policy," which is title insurance that the buyer provides for the lender (which is paid for by the buyer). In a nutshell, title insurance is insurance that the seller is providing "good title" to the purchaser on the property that the seller is conveying to the purchaser. Tip! Leverage. You can borrow money to buy real estate, whereas, generally you can not borrow money to buy stocks. What are the two primary types of title policies? The most common form of title policy is called a "title policy with standard exceptions." A "higher" or "better" form of title policy is called a "title policy without standard exceptions." While there are additional differences between these two forms of title policies, the most significant differences are that a title policy without standard exceptions typically provides assurances with regard to boundary lines and mechanics' liens. Own Real Estate With No Money Down. Formula For Building Massive Wealth With No Money Down. What is radon, and why does it matter to me as a person contemplating the purchase or sale of a home? Radon is an invisible, odorless gas that is considered a carcinogen by the EPA. Radon is VERY common (in my home state of Michigan, I have yet to encounter a home without some level of radon). The key is how much. You should always have any home that you are buying tested for radon. Even if you are not concerned about the health risks (radon is often compared to second-hand cigarette smoke), you should still perform the test as this could affect your ability to sell your home in the future. Real Estate Investors - Discover How To Our Private Lending PowerPoint Presentation Kit Will Have Private Lenders Calling You To Lend You Massive Amounts Of Money. We p. What is the difference between an offer that is "contingent upon the sale of a home," and an offer that is "contingent upon the closing of the sale of a home"? A sale that is "contingent up the sale of a home" is a situation where a prospective purchaser is attempting to purchase a subsequent home, and that purchaser has no pending contract for the sale of their existing home. A sale that is "contingent upon the closing of the sale of a home" is similar, except that the prospective purchaser HAS a contract for the sale of their existing home, but the closing for that sale has not taken place. By asking these questions, you can get a better sense as to the level of your Realtor's technical expertise. A good Realtor will be able to answer all of these questions easily. Don't settle for less than the best when buying or selling a home - there is simply too much as stake to risk your investment. for a more detailed discussion of this topic, please visit the Professional One website. Good luck! Learn To Find Commercial Real Estate Deals And We Will Fund Them. 80 Net Payout. For Special Jv Deals And Offers Register At www. propertyscoutcash. html. Sell A How To Course That Teaches Anyone To Find Commercial Real Estate Deals For Our Investors And Earn Huge Percentages Of The Profits. Michael McClure is the founder of Professional One Real Estate, a brokerage located in Plymouth, Michigan. After graduating from Michigan State University with a degree in accounting, McClure worked as a Certified Public Accountant for Price Waterhouse for nearly a decade. After leaving accounting in 1991, he began selling real estate. To date, he and his partner, RE/MAX Hall of Fame Member Phyllis Lemon, have cumulative lifetime sales of approximately $500M. McClure also volunteers on the Professional Standards Committee (a self-governing body of the local association of realtors that acts in a judge-and-jury-like fashion regarding ethics complaints and arbitration disputes) of Western Wayne Oakland County Association of Realtors. He sat for and passed the State of Michigan's Associate Real Estate Broker's examination in December 1996. McClure and his team have developed one of Metro Detroit's top ranking real estate websites http://www.professionalone.com