Interview with David Lichtenstein
For many people, the purchase or sale of a home is one of the largest financial transactions which they will ever make. The process of buying or selling of real estate is an important matter for everyone involved.
Making the decision to buy a real estate is an important step but it can often come with a little anxiety. But there is no reason to be worried. The process of buying a property doesn’t have to be stressful. If you have a plan for purchasing a property the whole process can actually turn into an enjoyable time.
If it’s your first time buying a property and you have no experience in that field it’s highly recommended for you to look for professional help regarding the law issues related to purchasing new home. We talked with real estate investor David Lichtenstein about the importance of licensed representation in the process of buying a property.
Mr. Lichtenstein has developed this guide to help you, the home buyer, to understand the process of purchasing a real estate.
What is real estate broker? – we’ve asked David to give his view. A licensed real estate broker is a person working in a real estate agency who has certain duties and obligations to assist you throughout the process of buying a property, said David Lichtenstein and added: You choose a real estate broker to represent your interests. In some cases is possible the buyer and the seller to be represented by the same broker. But if you wish you can choose not to be represented by real estate broker. There must be a written agreement between the broker and the buyer not depending on the type of relationship that exist between the customer and the broker, noticed Lichtenstein.
What are the different types of relationships a licensed real estate broker can offer?
David Lichtenstein: The licensed real estate broker that you’ll choose to represent you in the process of buying a property will have the following obligations and duties towards the successful fulfillment of the contract signed before starting the process:
– To perform the terms of any written contract made with you;
The contract is important in order both sides to be sure that there is no risk of certain changes in the transaction.
– To advise you how to obtain expert advice as to material matters;
Whether you have experience in buying a real estate or not it’s helpful to have a professional help on your side when you need advice to a material matters;
– To disclose to you any adverse material facts known by the licensed real estate broker;
– To exercise reasonable skill and care for your interests;
You may not know all your rights and duties, so the real estate broker will be here to protect your rights and interests.
– To seek a price and terms which are acceptable to you;
There is no point at looking at something that’s not acceptable for your budget. The broker will adjust the offers according to the limits of your budget.
– Presenting all written offers to and from you in a timely manner;
The broker will present to you the offers which may be suitable for you. He will choose the offers in accordance to your requirements and criteria.
– To promote your interest with the utmost good faith, loyalty, and fidelity.