Over time, myths have surfaced about what happens in the time between a home’s listing and its sale. However, a real estate lawyer in Chicago can help sellers and buyers make informed decisions during the process. Below are the truths behind some of these real estate-related myths.
Selling a Home Without a Real Estate Agent Can Save Money
A real estate agent can offer their specialized skills, training, and knowledge to sellers and buyers. A real estate attorney knows it is possible for a homeowner to sell without help, but hiring an agent can help the owner save time and money while avoiding errors that can affect the sale.
A Buyer Without an Agent Gets a Better Deal
Typically, the buyer’s agent’s commission comes from the amount set aside for the seller’s agent, and the seller pays everything. For instance, if the seller’s agent’s commission is 6%, that amount is divided between the buyer’s and seller’s agents. The buyer pays no commission costs, but they get the benefit of the agent’s expertise.
The Market Can Only Go up
As an agent, buyer, seller, owner or real estate lawyer in Chicago can attest, it is possible for real estate values to decline. However, an experienced lawyer knows that property is still a good investment.
A Bathroom or Kitchen Renovation Always Increases Resale Value
Some renovations may not appeal to the buyer, and they can end up causing the owner to lose money. If a bathroom or kitchen needs updates, consider it when setting an asking price. Another good option is to include a renovation allowance in the sale contract.
Open Houses Result in Faster Sales
An open house allows a real estate agent to attract potential clients, but there’s no guarantee it will result in a fast sale. Open houses are more effective when they’re held for agents rather than home buyers.
Before listing a home for sale or responding to an advertisement, call the firm of Starr Bejgiert Zink & Rowells. Call the office today to set an appointment or visit them online to find out more about the real estate law services the firm offers.