By Vernon B. Hearn
When you’re buying or selling a home, working with a team of professionals adds both value and comfort to the transaction.
“Your realtor, mortgage broker and lawyer all have parts to play,” explains Vern Hearn, real estate lawyer with Burchell MacDougall’s Truro office, “Each has a specific focus and purpose, and they work together, and with you, to get the deal done. Together, they are your ‘home team’.”
While it is tempting to buy or sell on your own, a realtor offers the invaluable experience and knowledge that makes the process of buying or selling a home easier for you.
A real estate agent knows the local market. They know the issues that may exist in the area where the property is located, such as water issues or resale potential, and they have knowledge and data in regards to the value of the property.
“I can draft a purchase agreement,” Vern says, “but I can’t tell you if you’re getting a good deal or selling too cheaply, and I can’t tell you if your new neighbourhood is prone to flooding in the spring.”
A professional realtor can advise you on whether or not an offer is a good one, and guide you through the process from showing to closing. They can also keep your deal on track if complications arise.
“One client was selling their parents’ home, and was in the midst of closing a deal. They happened to check on the house one evening, turned on the tap and there was no water. It ended up being a problem with the well, which, understandably, could have completely derailed the sale. They called their realtor, who in turn called the buyer, and within an hour a new deal was offered and agreed upon. Realtors aren’t afraid of those issues; they work to fix them and get the house bought or sold.”
Your realtor puts the deal together, ensures all the conditions have been met, and then passes it over to a lawyer.
“I know what I’m getting when I receive an agreement from a realtor,” Vern concludes, “that all the i’s are dotted and the t’s are crossed. And knowing that allows me to do my job confidently and expediently, and get the deal closed.”
This article is for information only and is not intended to be legal advice. If you have any questions or would like further information, you should consult a lawyer.