Buyer Information - Making use of an Estate Agent
How can an estate agent assist me?
Your search for a new home can be made much easier if you use the services of
an estate agent. Agents make it their business to provide every service connected
with your search for a home - from expert advice in the early stages, to careful
monitoring of your settlement. The more closely you work with one agent, the
better your needs become known and the more effectively they can help you
saving you time and possible trouble. All agents are bound by law to deal fairly
and ethically with both the buyer and the seller. Because the seller typically
hires the agent, the agent is legally obliged to represent the seller's interests.
This means you must decide what offers to make and what counter-offers to accept.
Don't accept an offer you are not completely comfortable with.
What are the benefits of using an estate agent?
- The agent can help you to set up a plan of action through an analysis of
your needs and finances, the current housing market and homes available in
your price range.
- The agent personally conducts your search to find neighbourhoods and homes
that fit your requirements.
- The agent can guide you through making an offer on a home and presenting
it to the seller.
What is the role of the estate agent?
- The estate agent is the link between the buyer and the seller. The agent
will negotiate an agreement of sale acceptable to both parties.
- An offer to purchase is drafted by the estate agent. This must be signed
by the agent, the buyer and the seller. Once signed it becomes a legal binding
contract of sale.
- A copy of this document must be attached to the loan application form.
- For this service, the estate agent charges a fee or commission paid by the