We all live in the information world. House Sellers, buyers and everyone in between has access to more information on the internet than you would think. With the real estate crash of 2008 came dishonest people involved in real estate transactions, so it is in our best interest to be open and honest as a House Buying Company. Here is why honesty and transparency in real estate in Salt Lake City are critical. Be aware of any possible we buy houses scams out there because there are still a few. Here is some information about Honesty and Transparency in Real Estate to help you in your house selling decisions.
Why Honesty and Transparency
in Real Estate are Critical
The Law Requires It
While many of the laws created after the 2008 real estate market crash had to do with mortgage lending, real estate agents and real estate professionals have plenty of new laws and guidelines to follow including giving proper disclosure.
In Utah both licensed and unlicensed Real Estate Professionals must adhere to certain standards of conduct; although, a Licensed Real Estate Professional is held to a higher standard than a non licensed person. While most House Buying Companies have licensed people that work for them, it is still a good idea to know the dos and don’ts of selling your house to a professional house buyer. Here are some minimal standards:
- The sales price and an explanation of how and who will handle the expenses related to the transaction should be on the contract.
- DISCLOSURE is mandatory. For example if the buyer of your house is going to sell or assign the contract you sign with them to another buyer, you have to be notified.
- Professional house buyers buy houses as is no matter what because they expect to make a profit. Even for almost new house we need to make a profit, and some people just want a quick house sale. A good professional will make sure this is clear to the seller.
- In Utah a seller can talk to the Utah Division of Real Estate about any concerns with any buyers you are working with. Most or all of our professionals at Gary Buys Houses are licensed.
It Gives You Greater Value
A lot of people in today’s market feel they can do most of the work of selling a home on their own. They don’t understand the value of a real estate agent’s service they can provide for the commission they get paid. After all, they can research homes online, buyers are looking for houses and even making offers directly to sellers, all without a contract with a real estate agent.
Sometimes sellers don’t understand the matrix of moving parts in negotiation and closing a home in escrow. There is showing the house, finding the right buyer, negotiating a final price, verifying a buyer can really close, handling inspection and repair requests, staying calm with extensions and finalizing the transaction. If the buyer has an agent and you, the seller, do not, who is at the disadvantage? And that buyer’s agent wants their 3% too.
All of the above takes a professional 6 to 8 weeks minimum to get a house sold, but this is how you get the most money for your house if the house is in OK livable condition. If you want a quick house sale or your house needs a lot of repairs or has tenants that want to stay until the lease expires or you or family members need to stay long after a sale and you get your money, you need a we buy houses company. You will give up some money for the quick sale though.
Everything up front between a seller and a buyer will certainly add value to the buyer and seller.
Consumers Are Savvy to Lies
Because there is so much information available, sellers are very savvy to the truthfulness of what someone says. If something doesn’t seem quite right, it can easily be fact-checked right on Google.
For example, professional house buyers or real estate agents should NEVER lie…ever. Realtor license records are public information that show any transgressions made in the past. Professional House Buyers are reviewed buy their customers on various web sites like the Better Business Bureau all the time. Just Google the name of the company you are thinking of working with and see what comes up.
Because real estate purchases are worth hundreds of thousands of dollars and sellers can be emotionally attached, the process of selling your house can be tough especially if you list your house. Being the calm, honest and trustworthy agent or professional house buyer will serve you and the seller greatly.
Call Gary Buys Houses Today at 801-382-9199
To Talk About Selling Your House Quickly and Easily
Honesty and Transparency in Real Estate
is so Important These Days