Real Estate Agent
Is Your Mortgage Broker Allowed To Originate An FHA Loan?
Can a mortgage broker originate an FHA loan if he or she also has a real estate license? The FHA prohibits brokers who are “actively selling” real estate from getting FHA loans. However, the eligibility requirements for FHA lenders don’t address real estate licenses. If you’re a mortgage lender, but you have a real estate license from a previous career, it may not prevent you from originating an FHA loan.
Home Inspection Reimbursement For Inadequate Seller Disclosure
When you’re buying a home it’s up to you as the buyer to search the address in public records. While seller disclosure does include material defects, it doesn’t necessarily include crime disclosure. If you pay for a home inspection and later decide to cancel your home buying contract can you get your money back? Should a real estate agent reimburse a home buyer for a home inspection?
Typical Broker Commission Rates
The average commission for a real estate broker is 5.1 percent of the transaction. If a home is difficult to sell, you’ll usually pay a higher commission. One option is to try selling the home yourself and saving on a seller’s commission all together.
Do Real Estate Investors Make Bad Brokers?
Many real estate brokers also dabble in real estate investing. Investing in real estate themselves could help your broker understand the market and the real estate process. Some brokers that invest in real estate might take advantage of their clients, but not all.
How To Thank A Great Agent
Agents know that, even if they work very hard, a sale won’t always go through. It’s a thoughtful gesture to thank an agent for their diligent work and to ensure them you’ll call them when it’s time to buy again. Here are a couple of appropriate gifts to thank your great real estate agent.
Home Buying Plan For Retirement
You may decide to change where you live when you retire – move from a single family home to a condominium. What should you do before buying a condominium for retirement? Research your credit and work to improve your credit score, if it’s low. Find a real estate agent you trust and look for the best mortgage financing you can, possibly through a credit union. You should prepare yourself financially for home buying before retirement if you plan to move.
Cancel Buyer-Agency Agreement With Real Estate Agent
How can you end a buyer-agency agreement with a real estate agent after you’ve agreed to hire that real estate agent to help you find a home? Canceling a buyer-agency agreement with a real estate agent may involve paying a fee to the real estate agent. To cancel a buyer-agency agreement with a real estate agent you need to tell the agent why you want to cancel. Depending on how long you worked with your real estate agent, he or she may be understanding when you explain you want to later buy a for sale by owner home without an agent.
Personal Finance Information Disclosed To Real Estate Agent: What’s Required?
What kind of personal and finance information is a seller required to disclose to their real estate agent? A seller wants to file a complaint about a real estate agent who has not been returning her calls. The seller says she did not tell the real estate agent that she was getting a divorce, but Ilyce says the agent works in the best interest of the seller, and personal information about getting a divorce should not matter. Ilyce suggests filing a complaint with the local real estate commission and with the Better Business Bureau.
Working With Real Estate Agents
What happens if you’re unhappy with your real estate agent? What are the responsibilities of a real estate agent? What’s the best way to find an agent? A few questions about working with real estate agents when buying or selling a home.
Real Estate Agent: Having A Successful Real Estate Career
Real estate agents can have a long successful career as long as they take several steps to do so. A potential real estate agent must take the state-approved licensing course. Once you’ve gotten your license, a new real estate agent must get a job with a broker who can hold the license. After a few years with a broker, the real estate agent can go out on their own and get their own clients, launching their successful career.
