05/14/2008

What You Should Know About Buying and Selling a Home
Buying or selling a home is a complicated business. There are contracts, closing costs, settlement statements, negotiations, and many other challenges in the process. Many first-time buyers and sellers don’t know what to expect from a real estate transaction.

In an effort to help consumers understand what they are entitled to in a real estate transaction, NVAR has created the Buyers and Sellers Bill of Rights, available in Chinese, English, Korean, Farsi, Spanish, and Vietnamese. Click the language links to download a brochure or call Scott Angel at 703/ 207-3241 for more information.

Why Use a REALTOR®?
All real estate licensees are not the same. Only real estate licensees who are members of a local, state and National Association of REALTORS® subscribe to a strict Code of Ethics and are called REALTORS®. They are committed to treating all parties in a transaction honestly, and are expected to maintain a higher level of knowledge of the buying and selling process.

Real estate transactions involve one of the biggest financial investments most people experience in a lifetime. The average transaction in Northern Virginia today exceeds $500,000. If you had a $500,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $500,000 legal question, would you deal with it without the help of an attorney? Considering the small cost and large risk, it is prudent to negotiate a real estate deal with the professional assistance of a REALTOR®.

Some of the services a REALTOR® can provide include:

1. Helping you determine your buying power.
2. Assisting you in your home search.
3. Providing objective information about each property.
4. Negotiating price, financing, terms, date of possession, and more.
5. Providing due diligence during the evaluation of the property.
6. Helping you understand different financing options and identifying qualified lenders.
7. Guiding you through the closing process.
8. Providing up-to-date information on what is happening in the marketplace.
9. Marketing your property to other real estate agents and the public.
10. Recommending repairs or cosmetic work that will significantly enhance the salability of your property.
11. Helping you objectively evaluate every buyer's proposal without compromising your marketing position.

What is an Affiliate?
Affiliate members of NVAR are companies, other than real estate firms, that are a part of the real estate industry. Affiliate members include moving companies, title companies, mortgage lenders, appraisers, inspectors, and more. Affiliates are active members of the real estate community who network with REALTORS® and keep them informed about new programs and opportunities.