REALTOR OR FOR SALE BY OWNER?

Many people ask themselves this question when getting ready to put their property on the market. It is true that homeowners can put a sign in the yard, advertise, and show their own property. What does a Realtor really have to offer you? First of all, a Realtor is a trained professional. He or she can assist you in accurately pricing your home for the current market. Your Realtor can also help you with ideas for making your property more attractive to buyers. You are not tied down by having to be available to show your property when a prospect wants to see it. In Batesville most Realtors work as a part of the Multiple Listing Service. We give our clients information on properties that meet their wants and needs listed not only by our own firm, but also other firms within our MLS group. Many times, prospective buyers prefer being shown a property by a Realtor rather than by the homeowner. In order to assess the amount of available storage, buyers want to feel free to open closets, cabinets, and etc. When the homeowner is present buyers are often not comfortable looking the house over thoroughly. A Realtor’s work is not finished simply by bringing a buyer and seller together on an agreed price through an offer and acceptance. The Realtor also helps in arranging for the completion of the sale in seeing that all the terms of the contract are met in a timely manner to bring the transfer of property to the best interests of his or her client.

Sharon Black
Ennis Realty

Real Estate in Batesville Arkansas

Many people, especially first time buyers, often have questions about terms used by bankers and real estate professionals. In my first column for The Voice of Batesville I thought it might be helpful to the readers to explain some commonly used real estate terms.

Amortization is a payment plan in which a borrower reduces debt gradually, usually through monthly payments of principal and interest, but the payments could be semi-annual or annual payments.

Annual Percentage Rate(APR) is the annual cost of credit over the life of a loan, including interest, service charges, points, loan fees, mortgage insurance and other such items.

An appraisal is an evaluation to determine what a piece of property would sell for in the current market.

A balloon loan is a loan with payments that are based on a longer amortization than the actual maturity date. The balance of these loans is due at the end of the loan period. These loans are often for 3, 5, or 7 years. The reason for this type of loan is that it gives the borrower smaller payments while not locking the lender into an interest rate for the full amortization.

Closing is the term given to the meeting at which buyers and sellers sign the documents to transfer property from one owner to the other.

Earnest money is a sum paid to show the buyer is serious about his intentions to purchase property. At the closing the earnest money goes toward the purchase price of the property as a credit to the buyer.

Escrow is the handling of funds or documents by a third party on behalf of the buyer and/or the seller.

If there are other real estate questions you have you may contact me through this paper or my office.

Sharon Black, Realtor

Ennis Realty