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GUARD YOUR EQUITY!
Planning to sell your home soon? Do you know how much equity you have in your home? Who will help you protect that precious financial stake?
The first step, then, is to make a determination of present fair market value. This can be done in two ways. First, you may ask your real estate consultant/professional to perform a "Broker Pricing Opinion". This report will show the sale prices of other, similar homes, which have sold recently. The purpose is to help you arrive at a probable selling price for your property
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Another way to establish the current value of your home is to have an appraisal prepared by a "certified" appraiser. This unbiased evaluation will give you the "fair market value" of your home, another indicator of the probable final sale price a buyer is likely to pay. To determine your equity, then, subtract your current loan balance from the present value you've established. What remains is called equity. It's the part you get to keep upon the sale of your home, and it should be carefully guarded from the low offers of bargain-hunters.
Your best protection against loss of equity is the real estate consultant/professional you choose to represent you in the sale of your home. It is the agent's responsibility to attract qualified buyers, and negotiate the highest possible sale price. As your representative, the agent has a fiduciary obligation to represent your best interests.
The real estate consultant/professional is experienced at negotiating important aspects of a sale, such as price, terms, possession date, and other details. Buyers can be qualified for both their motivation and financial ability to complete the purchase. The benefit to you is the enjoyment of the highest possible amount of equity.
