Basics of Property Management: Screening Potential Tenants
Using A Realtor For Your Homebuying Process
Jesse Obrien
There are few experiences in life that can be as exciting as buying your first home. While buying a home is an exciting experience, it will also require you to do your due diligence to ensure that you are buying a house that will effectively meet the growing needs of your family while still be easily affordable for your budget.
Is It Worth Hiring A Realtor If You Are Only Looking To Buy A House?
Individuals will often assume that hiring a realtor is only necessary if they are looking to sell a home. While it is true that a realtor will be able to offer comprehensive representation and marketing for individuals looking to sell their homes, they can also be extremely useful for those that are starting the process of finding and buying a house. For example, these professionals will be able to scour the local listings to find properties that meet your requirements, which can save you sizable amounts of time. Furthermore, they can act as an intermediary during negotiations on the purchase so that you can avoid the stress of direct negotiations for something as valuable as a house.
Will A Homeseller Have To Sell The Property To The Highest Bidder?
When buying a house, some people may assume that the seller will always have to sell the property to the person that has the highest bid. Yet, this is not the case, and there can be many factors that may influence their decision when accepting bids. For example, individuals that are looking to sell a historic property may prefer a buyer that agrees to maintain the property according to the standards of the local historic building organization. Additionally, if a potential buyer were to offend the seller, they have the right to refuse to do business with them. Being aware of these potential issues can allow you to more effectively navigate the buying process.
Why Will The Homebuying Process Take So Long To Complete?
Individuals that are buying their first home will often be somewhat shocked by the amount of time that the buying process will take to complete. However, this can be unavoidable if the buying process is to go smoothly. For example, you will need to have the property fully assessed to ensure that the building is safe and compliant with the building codes. Additionally, preparing the paperwork for this transaction can take some time as well. While it can be easy to be impatient during the homebuying process, your realtor will be able to keep you informed about the process so that you know how it is proceeding and your expected move-in date.
If you're ready to buy a house, talk to a realtor to get started.
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For the last several years, I've used a property management firm to help with my rental properties. One of the tasks that they handle for me is screening applicants who would like to move into one of my vacant units. Their expertise has helped me lower my tenant turnover and find people who want to stay with me for years. Part of the process is a tenant screening credit check. Before any further contact takes place, my manager orders credit reports from at least two agencies. That is enough to tell us if an applicant is a good financial risk. Assuming the references work out, I meet the candidate and make the final decision. If you own rental properties, let me tell you more about the benefits of having a property manager. I'm betting you'll find this type of arrangement will work for you too.