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Real Estate Brokers
Through the years we have been fortunate to live in several different homes. They have all been relatively in the same area of the state of Minnesota. Each time we have bought a house it was an upgrade the one we had before it. The first house we put on offer on we had to go to court to get our down payment back. The first house we owned had some structural damage and the second house had undisclosed water issues. We have learned a great deal about buying and selling homes through the years. We were very careful in buying our present home.
When we were looking to buy our first home a therapist that we were working with at the time asked us to go through his wife who had recently passed her real estate brokers license. We had some concerns about doing this because we knew she had started a new career because she lost her former job because of a drinking problem. We wanted to help out a friend so against our better judgment we contracted with her to be our real estate broker. She looked different listings for us in our price range. There was one small home on a lake that we liked. We were using a veteran’s administration loan because my husband had been in the military. We put money down on the home with the purchase agreement offer. The sellers took our offer on the contingency that the home would meet with veteran’s administration approval. She did not word this correctly in the agreement so when the VA would not approve the loan and we did not have financing the sellers did not want to give us our money back or release us from the contract. We ended up going through conciliation court in order to get the down payment back. We talked about interviewing other real estate brokers to have better representation, but we ended up staying with her and buying a small farm. The sellers did not disclose the fact that the back fill of the foundation had crumbled the north wall. This was not visible. This is something that should have been disclosed but none of us knew enough to ask for this. We ended up having to pay for the repair ourselves once we discovered it six months after the purchase.
We bought our second home without the help of any real estate brokers. The sellers had the home for sale by owner. We did the closing through the bank without having disclosures covered again. This time we ended up with a pre-existing water problem with no recourse to go after the owners. In the purchase of our existing home we went to experienced qualified real estate brokers and the deal went through with out an issue and we have had no surprises. It pays to use the services of professionals when making the largest purchase of your life.
Summary
Real estate brokers can help take the hassle out of buying a home and shopping around for the best interest rates. That, after all, is their job! Not only can they help find the lowest interest for you, they make all the paperwork and details complete so you have less to worry about.
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