Buying a property without a licensed real estate agent can be intimidating; you need to make sure your title comes out clean, that your attorneys approve all the paperwork and that you can get yourself a fair deal. Usually we’d recommend hiring a buyer’s agent for your first or second experience, since everything is still new and unfamiliar, but if you’ve bought and sold before and feel like you’re ready for the task, here are a few great tips:

Know your Neighborhoods – One of the reasons a real estate agent is so invaluable is because they know they’re prices. Some even know the price per square foot of every neighborhood in their market, and they use it to their advantage. If you’re looking at a home you’re interested in, don’t talk price until you can get home and do a thorough comparative market analysis for yourself. It’s important to choose at least three homes that have sold in the area that are similar in size and updates. These properties will serve as your “comps” and you will need to look at the price they sold at, not just Cherry Creek homes for sale. Owners are free to list their properties for any number they want, a real comp will let you see what buyers are really willing to pay.

Know your Paperwork – There’s a lot that goes into a home purchase; you need to make sure you’re using a legal and enforceable contract, you’ll need to make sure there are contingencies for an inspection and for financing if you choose to have closing dependent on those factors. You will want to make sure you’re obtaining a clear title; one that is free from liens and encumbrances, and lastly, you will want to make sure everything gets recorded with the county and is a legal transaction. For the most part, your attorney and title company can help you in this process, but it’s important to know all the right questions to ask and to be on top of your purchase.

Know how to negotiate – One of the other huge advantages of having a real estate agent is that they’re masters of negotiation. They make deals on a monthly, or even weekly basis, and they know when to stand their ground and when to give in. One advantage agents have is that they’re less emotionally attached to the property, so keep in mind when negotiating that you are working as a business person and this home is your investment.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Advertisements