Realtor Representation-Resale Or New Construction

As a consumer it is best that you be represented by a realtor who has at least 10 years experience as he or she will know the real estate nuances that should serve you well when re-selling a property.

This is especially true when purchasing new construction. If you are considering new construction, a person who has extensive new construction experience is a realtor you will want to use and is a definite asset. The realtor will explain why one unit is priced differently than another. Which unit layout is the best in the complex and domonstrate which developers provide the best finishes and the relative value which is best expressed in cost per square foot terms.

Best of all, there is no cost to you when using a realtor and he/she will be acting in your behalf. The realtor should explain why the location/cost of parking is important to review and/or visually check. Knowing whether you are buying deeded parking or common element parking is also important to know. In addition, the assessment and taxes associated with the parking spot should be identified so that you are aware of your monthly cash outlay.

And finally, the realtor should make you aware of the importance of reviewing the property report very carefully to make sure if there are any rental or sales restriction time frames for the development.

Do keep in mind that if you go directly into a sales center of a developer without a realtor you will not be represented. The realtor in the center will be working on behalf of the developer. So it is best that before you start the process of looking for new construction that you interview and select a realtor with experience in buying pre-construction and new construction, including the ability to explain architectural plans and layouts to you. With a knowledgeable realtor representing you and some good due diligence you should be in a good position when you want to sell your home in the future.

www.SheldonChicago.com

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