What you should know

The process of buying or selling property is a complicated one. There are many rules and regulations that must be followed to ensure a legal transaction and protect the interests of both parties. The professionals at Bradford Real Estate Group, LLC. are your specially trained advocates. We will negotiate on your behalf, prepare and review paperwork, and serve as trusted counselors and advisers from initial meeting to closing.

We encourage all of our clients to read, learn, and understand as much about the process as possible. As informed consumers, they may then ask questions, contribute concerns or needs, and actively participate to ensure a successful transaction. Please review the navigation at left for more information about specific topics. For additional information, please refer to the sections found in the menu above geared to buyers and to sellers.

A professional appraisal helps to protect the interests of the buyer, seller, and lender by determining the fair market value of a property. Once buyer and seller have agreed to a price, but prior to approval of the mortgage application, the lender will order a professional appraisal to ensure that the agreed-on price matches the current market value. The appraiser will provide an unbiased opinion of the property’s value, based on a specific appraisal technique. This may involve pulling comparables–prices of similarly priced homes–to determine accurate value. It also may include examining properties currently on the market or reviewing national real estate trends.

If the appraised value is lower than the sale price, a renegotiation may occur or the seller may be given opportunity to provide supporting documentation that may increase the appraisal. This may include evidence of recent renovations, surveys of recently listed or sold similar properties, or city tax valuations that may increase the property’s worth.

At time of purchase, many home buyers do not understand the interest they have in the property beyond the actual property value itself. Obviously, the property is worth, at minimum, the price paid. But what if there was a fire, the property was burglarized, someone was injured, or home values have increased in the neighborhood since the last buyer’s purchase?Homebuyers should make certain that they have an insurable interest in the property prior to closing, after an agreement has been reached. The presence of homeowners insurance will protect the buyer’s interest in the property from all angles–prior to and after possession.
The Importance of Inspections

Whether buying or selling, it is prudent to conduct a professional inspection. The inspector will assess the residence or commercial property from top to bottom–from the foundation to the roof and everywhere in between–to help you make an informed decision.

Identifying Areas of Improvement

The inspector will review all critical systems, from major systems such as plumbing, air conditioning, and wiring, down to the fuse box, light switches, plugs, and appliances. The seller is required to fix any major violations, such as unsafe wiring, prior to closing. Minor imperfections, such as cracking paint or exposed drywall, can be used by the buyer as a bargaining chip in negotiations.

Addressing Structural Problems

Most often, inspections reveal relatively minor problems that can be fixed prior to sale or deducted from the asking price. At times, however, major structural difficulties are unearthed. These may include shifting or crumbling foundations. In these instances, buyer and seller may split the cost of a structural engineer to assess the problem more fully and make recommendations for repair.

At several hundred dollars, the cost of a home inspection is a small price to pay for one of life’s biggest investments.

An Eye For Detail

The professionals at Bradford Real Estate consider each and every property we encounter with a critical eye. Whether as buyer’s or seller’s agent, we assess cosmetic features and major systems and make recommendations to protect your interests. We also are skilled negotiators who know how to gain an advantage for our clients.

Choosing the Right Lender

The mortgage lender can make all the difference between a successful and a failed transaction. Does the lender understand your goals? Your timeframe for ownership and improvement?

The professionals at Bradford Real Estate will assess all these needs and more as your representative. Based on your goals, we’ll recommend an appropriate lender in our network that will offer you terms, costs, and flexibility that will best meet your requirements. And there won’t be any surprises at closing. Every charge is fully disclosed and explained up front, so that you feel confident in us and in our lender.

Finance Your Dream

Looking for your dream home or office, but don’t know if you can afford it? Contact Bradford Real Estate. We can introduce you to innovative financing programs and lenders that will work in your best interest to ensure a smooth and enjoyable transaction from initial meeting to closing.

Examining Title Insurance

Title insurance protects the buyer from unforeseen defects in the title, however unintentional or deliberate. It also provides peace of mind that far outweighs its cost. If you finance your purchase, the lender will require title insurance equal to the amount of the mortgage. You may increase this coverage to include your stake in equity in the property. Even if you pay cash, it is a good idea to purchase title insurance to protect both your investment and resultant equity.

Clearing the Title

Before a property sale is completed, the title company will review public records to identify irregularities and to confirm the seller’s property ownership. However, even the most careful searches can miss errors that may have occurred in previous transfers of the title. These could include simple computer keystroke errors, liens, or actual fraud. Title insurance is a relatively inexpensive way to protect your investment.

Ask the Professionals

Thinking of buying or selling a home or office? Need someone to help you through the process? Contact the professionals at Bradford Real Estate. As a full-service brokerage, you’ll have access to our expertise as well as our network of qualified mortgage lenders, title companies, inspectors, appraisers, and contracting partners to ensure a smooth and enjoyable transaction from initial meeting to closing.