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Articles
Why Should You Use
The Wells Team?
Real estate transactions
involve one of the biggest financial investments most people
experience in their lifetime. Transactions today usually exceed
$100,000. If you had a $100,000 income tax problem, would you attempt
to deal with it without the help of a CPA? If you had a $100,000 legal
question, would you deal with it without the help of an attorney?
Considering the small upside cost and the large downside risk, it
would be foolish to consider a deal in real estate without the
professional assistance of The Wells Team.
But if you're still not convinced of
the value of The Wells Team, here are a dozen more reasons:
1. The Wells Team can help you determine your buying power --
that is, your financial reserves plus your borrowing capacity. If
you give The Wells Team some basic information about your available
savings, income and current debt, he or she can refer you to lenders
best qualified to help you. Most lenders -- banks and mortgage
companies -- offer limited choices.
2. The Wells Team has many resources to assist you in your
home search. Sometimes the property you are seeking is available but
not actively advertised in the market, and it will take some
investigation by your agent to find all available properties.
3. The Wells Team can assist you in the selection process by
providing objective information about each property. We have access
to a variety of informational resources and can provide local
community information on utilities, zoning. schools, etc. There are
two things you'll want to know. First, will the property provide the
environment I want for a home or investment? Second, will the
property have resale value when I am ready to sell?
4. The Wells Team can help you negotiate. There are myriad
negotiating factors, including but not limited to price, financing,
terms, date of possession and often the inclusion or exclusion of
repairs and furnishings or equipment. The purchase agreement should
provide a period of time for you to complete appropriate inspections
and investigations of the property before you are bound to complete
the purchase. The Wells Team can advise you as to which
investigations and inspections are recommended or required.
5. The Wells Team provides due diligence during the
evaluation of the property. Depending on the area and property, this
could include inspections for termites, dry rot, asbestos, faulty
structure, roof condition, septic tank and well tests, just to name
a few. The Wells Team can assist you in finding qualified
responsible professionals to do most of these investigations and
provide you with written reports. You will also want to see a
preliminary report on the title of the property. Title indicates
ownership of property and can be mired in confusing status of past
owners or rights of access. The title to most properties will have
some limitations; for example, easements (access rights) for
utilities. The Wells Team, title company or attorney can help you
resolve issues that might cause problems at a later date.
6. The Wells Team can help you in understanding different
financing options and in identifying qualified lenders.
7. The Wells Team can guide you through the closing process
and make sure everything flows together smoothly.
8. When selling your home, The Wells Team can give you
up-to-date information on what is happening in the marketplace and
the price, financing, terms and condition of competing properties.
These are key factors in getting your property sold at the best
price, quickly and with minimum hassle.
9. The Wells Team markets your property to other real estate
agents and the public. Often, we can recommend repairs or cosmetic
work that will significantly enhance the salability of your
property. The Wells Team markets your property to other real estate
agents and the public. In many markets across the country, over 50
percent of real estate sales are cooperative sales; that is, a real
estate agent other than yours brings in the buyer. The Wells Team
acts as the marketing coordinator, disbursing information about your
property to other real estate agents through a Multiple Listing
Service or other cooperative marketing networks, open houses for
agents, etc..
10. The Wells Team will know when, where and how to advertise
your property. There is a misconception that advertising sells real
estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82
percent of real estate sales are the result of agent contacts
through previous clients, referrals, friends, family and personal
contacts. When a property is marketed with the help of The Wells
Team, you do not have to allow strangers into your home. We will
generally prescreen and accompany qualified prospects through your
property.
11. The Wells Team can help you objectively evaluate every
buyer's proposal without compromising your marketing position. This
initial agreement is only the beginning of a process of appraisals,
inspections and financing -- a lot of possible pitfalls. We can help
you write a legally binding, win-win agreement that will be more
likely to make it through the process.
12. The Wells Team can help close the sale of your home.
Between the initial sales agreement and closing (or settlement),
questions may arise. For example, unexpected repairs are required to
obtain financing or a cloud in the title is discovered. The required
paperwork alone is overwhelming for most sellers. The Wells Team is
the best person to objectively help you resolve these issues and
move the transaction to closing (or settlement).
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