Merri Ann’s Real Estate Tips

Posted May 1, 2017 at 10:32 pm by

Merri Ann Simonson - Contributed photo

Mer­ri Ann Simon­son shares an arti­cle on Real Estate tips with you…

Buy­ing Prop­er­ty in the San Juans

  1. Select an Agent to Rep­re­sent You

As you may be aware, all of the bro­ker­age firms on San Juan Island are mem­bers of the North­west Mul­ti­ple List­ing Ser­vice; there­fore, any of the agents can assist you with any of the prop­er­ties list­ed with Cold­well Banker or oth­er bro­ker­age firms. One of the first steps in pur­chas­ing real estate on San Juan is to select an agent to rep­re­sent you. Ide­al­ly you should select ONE agent that you feel will pro­vide you with the lev­el of cus­tomer ser­vice that you require.

It is impor­tant for you to under­stand the Law of Real Estate Agency. The State law allows for three types of agency representation:

  • Buyer’s rep­re­sen­ta­tion is when the agent is rep­re­sent­ing the buy­er and intends to obtain prop­er­ty at the low­est pos­si­ble sales price.
  • Seller’s rep­re­sen­ta­tion is when the agent has a list­ing with the sell­er and is attempt­ing to obtain the high­est pos­si­ble sales price.
  • Dual agency is when the agent shows a buy­er one of their own list­ings and the buy­er decides to pur­chase it. In the case of dual agency, the agent rep­re­sents the sell­er as well as the buyer.

Deter­mine Your Source of Funds - Con­tin­ue read­ing (PDF)

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Categories: Real Estate

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