January 13th, 2009 categories: Steps to Purchase
A buyers agent is an agent working for you in the purchase of a home or condo. This agent in Louisiana can list properties as well sell them but more than likely will not sell you one of his or her listings. My number one goal as a buyers agent is to match then buyers needs with the properties that are on the market or may come on the market in the future. One thing I focus on is how well the unit will sell in the future when you are ready to sell. What is the future value of the condo going to be?
Does the condo have value? A Buyers agent should tell you what the condo is worth, this often times is different than the asking price. Figuring out the asking price may be the seller or their agent. I can look up in the property records or MLS and see what the seller paid for the unit and when. In this market most things have been flat for 3 years. If the person overpaid for the unit, I will tell you.
What are the pros and cons of the unit? How does this stack up against other units that have just sold or have been listed in the condo association. Are the trends positive in the complex. An agents experience will help you with this.
Are there any past assessments in the condo association and how likely will this happen again? What do the condo documents say that may have some link to future value? Are there going to be financing issues with the condo association?
What do your condo fees cover? This fee may vary depending upon the condo association in what it covers.
A buyers agents can lead you to some of the better title companies, loan officers and how good their deals are? They will all save you money. They are not all equal and its easy to avoid a horror story. Just ask me.
Inspections are generally easy on condos but if we find things that are broken your agent should be your advocate in getting those items fixed in your behalf. The agent should have enough experience to know if the problem are major or minor.
These are but a few of the questions that a seasoned buyers agent should be able to help you with.
Historic Condo on St. Charles Ave.