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Real estate tips for both sellers and buyers

Most Delaware residents involved in a real estate transaction are handling one of the largest deals of their lives. Those seeking to purchase a home as well as to homeowners who are in the process of selling their home might want to keep the following tips in mind.

Having a real estate agent can greatly benefit people who are trying to sell their home. While many property owners believe that they can sell their property themselves, a real estate agent brings many benefits to sellers. For instance, a qualified real estate agent has the marketing skills necessary to attract potential buyers, understands the details involved in a loan application process, and knows how to tactfully handle contract negotiations and inspection issues. While it is not impossible to complete a home sale without a real estate agent, having professional help can make the transaction easier.

While some people think that it can be cost effective for homeowners to sell their property themselves, this is not necessarily true. When the realtor and the homeowner agree on the home's sale price, the realtor's commission is included in that price. The commission is then split between the seller's realtor and the buyer's realtor.

Another real estate tip regards major home remodeling projects and upgrades. While many homeowners may think that making an update to their home might attract buyers who will pay a higher price as a result, this is not always the case. In fact, many prospective buyers desire to purchase a home that they can remodel to suit their style, according to real estate experts.

Purchasing or selling real estate may result in unforeseen problems, such as disputes among property owners, foreclosure difficulties and title defects. A local real estate attorney might be able to iron out these difficulties by completing a title examination, working to settle property disputes and handling all the necessary paperwork.

Source: US News, "9 Common Real Estate Myths That Plague Buyers and Sellers", Teresa Mears, August 4, 2015

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