Buying an apartment is a troublesome and responsible business, so many residents prefer to do it through an agency. In this case, most of the worries fall on knowledgeable professionals. However, for a quick and, most importantly, high-quality result, it is crucial to know in advance all the subtleties of interaction with realtors in Liverpool (UK) in choosing the right real estate agent is also essential.
Why do you need a realtor when buying an apartment?
An experienced real estate agent of the agency will help you buy an apartment suitable for the area, condition, and price without wasting time and effort. He will take on:
- Selection of a suitable option. Large agencies have a wide database of offers, from which you can quickly select the most exciting apartments. Experts constantly monitor the market and are ready to offer optimal options in terms of cost. They negotiate with the owners to agree on a convenient time for inspection, etc.
- Verification of the purity of the transaction. The specialist reviews the documents provided by the seller. His duties include checking the legality of the powers of the homeowner or his representatives and the absence of other owners who can challenge the upcoming transaction.
- Interaction with financial institutions. When buying an apartment on a mortgage, the services of a realtor may include assistance in obtaining the necessary borrowed funds. Large agencies have close ties with financial institutions, and often, in this case, the chances of a positive result increase.
An employee of the real estate agent will monitor the correct legal execution of the transaction. He can also help prepare the necessary documents and state registration.
Features of interaction between the buyer and the representative of the agency
The real estate agency offers to conclude an appropriate contract to provide its services. There is no strict model for such a document, and each organization can develop its document. It contains general data, a list of services provided, obligations, and each party’s rights. You need to pay attention to the points:
- The difference between the buying and selling price. Unscrupulous real estate agencies can make a similar clause in the contract. The difference between the seller’s price and the buyer’s payment goes in favor of the company. It is the additional income of the realtor, which falls on the shoulders of the apartment’s new owner.
- Realtor commission. The contract must specify the amount or indicate the factors that will affect the apartment’s new owner.
Some agencies include a clause in the contract against applying to other NAs. But such a requirement is illegal and can be removed from the agreement. If the real estate agency representatives fail to comply with their obligations, the contract may be terminated. The buyer may demand a refund of part of the fee.
Choosing a real estate agent is not difficult if you pay attention to the details. The client’s task is to find an organization whose task is to provide a service and not deceive its customer. As a check, you should not be shy to ask questions of interest. If the client did not find reviews about the company’s work, you could ask them to provide them.
Haag, Jerry, Ronald Rutherford, and Thomas Thomson. “Real estate agent remarks: help or hype?.” Journal of Real Estate Research 20.1-2 (2000): 205-216.