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The process of buying a home or investment generally starts with determining your buying power ; that is your financial reserves plus your borrowing capacity. If you give a Real Estate Agent some information about your available savings, income and current debt, they can refer you to lenders best qualified to help you. Most lenders - banks and mortgage companies - offer limited choices. |
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Finding Step |
Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a Registered Real Estate Agent. When picking a Real Estate Agent look for one who is a member of The Board of Valuers, Appraisers and Estate Agents Malaysia. A Real Estate Agent has many resources to assist you in that search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties. |
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Selecting Step |
Your job is to
make the final selection of the right property for you. This is when
excitement and emotion run high. Your Real Estate Agent can assist you
in the selection process by providing objective information about each
property. Real Estate Agent have access to a variety of informational
resources. Real Estate Agent can provide local community
information on utilities, zoning, school, etc. There are two things
you'll want to know.
First, will the property provide the
environment I want for a home or investment?
In some areas, newspaper advertising generates phone calls to the real estate office but statistically has minimum effectiveness in selling a specific property. Overexposure of a property in any media may give a buyer the impression the property is distressed or the seller is desperate. Your Real Estate Agent will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS studies shows that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends and family, and personal contacts. |
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Security Step |
When the property is marketed with the agent help, you do not have to allow strangers into your home. Agents will generally pre-screen and accompany qualified prospects through your property. |
| Negotiating Step | The negotiation process deals with much the same issues for both buyers and sellers, as noted above under the buying process. Your agent can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspection and financing - a lot of possible pitfalls. Your agent can help you write a legally binding, win-win agreement that will be more likely to make it through the process. |
| Monitoring,
Renegotiating and Closing |
Between the initials sales agreement and closing ( or settlement ) , questions may arise. For examples, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your agent is the best person to objectively help you resolve these issues and move to transaction to closing ( or settlement ) |
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