What my Agent will do when Buying a Condo
It can be very easy to purchase a condominium to the listing agent or the property management facility of a condominium but are you really protected?
Using your own buyers agent when purchasing any type of property protects you legally, emotionally and financially. A buyers agent works solely on your behalf negotiating for your terms and price. Do not utilize a buyers agent you run the risk of being taken advantage of by the listing agent or the seller. Having your own agent protects you legally by understanding and explaining all of the legal jargon and contracts associated with the real estate purchase.
Before looking at any property is best to utilize the services of a buyers agent. Our agents specialize in condominium and townhome purchases throughout Panama City Beach, so we can help in your purchase by explaining how the purchase and sale works and how to negotiate to get the terms you want.
Your buyers agent will offer a list of all the current properties for sale that match your budget and your search criteria. If you don’t know how much home you can afford, our agents will put you in touch with the lender that will offer you a preapproval letter stating how much you can afford. This is a vital letter to accompany any purchase and sale offer so that sellers know you are a serious buyer and have already done the financial homework.
Once you find a few properties that you’d like to look at, your buyers agent will accompany you through these homes. All license agents have the permission and resources in order to enter listed properties. This is usually done via a key box. Once inside the condominium you are free to browse the entire property as well as the amenities on site. If you find a condo you want to make an offer on, our agents will write up that offer and explain all the details involve so you understand completely what you’re signing. The purchase and sale contract will state how much you’re willing to offer on the property and all the terms associated with the sale including closing dates, contingencies, and a copy of the legal description. All of these items must be signed.
If the seller wants to negotiate the offer they will send back a counter offer. The negotiating can go back and forth as long as it takes until either one party concedes or the agreement is terminated.
READ MORE: SECRETS OF CONDO BUYING YOU MIGHT NOT KNOW
Your buyers agent will offer all the details about the transaction and time frames including inspections, appraisals, lender information and title and escrow. If there’s any thing you don’t understand feel free to ask your buyers agent as we are here to help you through the entire process protecting you and your rights.
A buyers agent is a professional and licensed assistant helping you through the entire purchase and sale transaction. We are also the mediator between the listing agent and seller. We handle all communication and make sure everything is done in writing protecting you along the way.
If you’re ready to get started with one of our buyers agents give us a call or contact us anytime. You can browse all condominiums for sale on our website and contact us when you’re ready to have a closer look.