Using Brokerage Services
If you are considering investing in any market you have at least two choices. One you can study and get the required licenses so that you can represent yourself in all transactions. Or, you can contract with a licensed broker for your brokerage services. The latter is always the recommended route if you are going to be dealing with offshore real estate investments.
Many times it is to your benefit to hire professional brokerage services to avoid the minutia and to have a professional tracking your transactions for you. A few of the types of services that you would expect to be provided by a broker are:
* If selling, they will provide a comparative market analysis (CMA). This compares your property to the price of other properties that have sold in the area. It is not an appraisal and will consider the competition, i.e. the other properties currently for sale in your area.
* Marketing your property. Your broker will get the property listed where it can be seen. This can range anywhere from the multiple listings to advertising on a national or international level if warranted. It could be as little as putting up signs or holding open houses. The broker is the trained professional and will do what is best for your property.
* Facilitating your Purchase or Sale. Whether you are a buyer or a seller they will be able to walk you through the process to insure that you have all your i's dotted and your t's crossed as required by the local and state laws where you are conducting your business.
* Property Management. In many cases the property owner does not have the time or the inclination to be an on-site manager. Brokerage services can handle all the aspects of the property from collecting rent to making repairs and keeping a detailed accounting of expenses.
* While it is state dependent, brokers can in many cases prepare contracts and leases. If they are restricted in that, they have access to the legal professionals that can do it for you. It is not a legal requirement to use brokerage services when selling your property. However some loan brokers may have their own requirements.
They want to be sure that there is no fraud involved when you apply for credit and they grant a loan. The broker and their expertise can also provide you with freedom and peace of mind concerning your transactions.
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