A realtor is a member of the National Association of Realtors, so they are bound to a set of ethics. In the DMV, every agent must be a realtor to operate.
I could write an entire book on this but instead I’ll sum it up with a few bullet points:
Assessed value is not the same as market value or appraised value. There are many homes that could be sold for significantly more than an assessed value and others that maybe sold for significantly less. The assessed value of a home is used for the purpose of taxes in your local municipality. The assessed value of a home is multiplied by the local tax rate to determine what your yearly taxes are. The assessed value has no impact on how much your home is worth to a potential buyer in the marketplace.
It depends. Every situation is different. Some people can afford to purchase a home, move into the new one, and then sell the previous one as vacant. Others need the money from their existing home to purchase a new home. Both are possible and we will create a custom plan to achieve what your family wants.
Without it, you do not fully know what you can afford and you run the risk of falling in love with a home without knowledge if you can afford it monthly.
Having a property appraisal is a standard part of the mortgage process. The lender wants an appraisal report to make sure the loan will be guaranteed by the value of the property. I like to prepare for every possible outcome and not leave much up to chance by providing information the the appraiser needs to support the purchase sales price. We provide a written, detailed, up to date analysis that supports the purchase price prior to their visit to the subject property, as well as any recent updates.
The closing process finalizes the sale of your home and makes everything official. Also known as settlement, the closing is when you get paid and the buyer receives the deed to your home. Unless arranged beforehand, you and anyone else on title will need to be physically present for closing
On the day of settlement (or up to 3 days prior), the buyers will have one more opportunity to walk through the home and confirm that everything is in the condition that was agreed to in the contract. Whether you close out your side at the same time or a day or two prior, the closing agent will look over the purchase contract and identify what payments are owed and by whom; prepare documents for closing; conduct the closing; make sure taxes, title searches, real estate commissions, any mortgages and other closing costs are paid; ensure that the buyer’s title is recorded; and ensure that you receive any monies due to you via check or wire