For Sale by Owner?
November 11, 2016 Leave A Comment
As the real estate market improved after the crash, many sellers elected to forgo the use of traditional real estate brokerage services and instead market their properties alone. Zillow, Craigslist, and other well-established online marketing outlets are competing with the multiple listing service (MLS) and other marketing outlets utilized by real estate marketing professionals. For sale by owner (FSBO) signs are appearing online and in front yards. As demand and prices increased, it became easier to locate qualified buyers. Sellers are usually motivated by the 5-6% savings in commissions paid to the listing agent.
A qualified real estate agent will help to prepare and market your property. By law, a licensed real estate agent can prepare contracts, addendums, and disclosures. Even in today’s market, a commercial property with a limited number of potential buyers can benefit from the use of real estate agent that has contacts and knows how to manage these more complex transactions. Attorneys will also be involved in these transactions as there are many moving parts – negotiation of terms, timelines, environmental inspections, approval of tenant leases, estoppel certificates, meeting loan conditions, satisfying title insurance contingencies, and more.
Far more residential sellers are forgoing the use of real estate agents and going FSBO. Legal costs for handling the transaction are significantly lower than a 5-6% commission. For example, commissions on the sale of a $300,000 home at 5% would be $15,000. Barring extraordinary circumstances, legal costs should be under $3,000.
If the seller is satisfied with the contract price and does not require aggressive marketing to find a qualified buyer, there is no need to incur commissions costs. The real estate attorney can handle all other aspects of the transaction: contract, disclosures, transfer affidavits, title commitment review, deed preparation. Note, however, that the more expensive your home is, the smaller the number of qualified buyers. Luxury homes present unique marketing challenges. The real estate agent can advise as pricing, marketing, and strategy.
Residential buyers can benefit from the use of a buyer’s agent who knows the market, and can quickly identify and contract for homes that meet the buyer’s needs and specifications. From a seller’s perspective, it is advisable to allow for payment of commissions to a buyer’s agent. This can be up to 2.5%, but can be lower. This insures access to more potential qualified buyers and offers. From a buyer’s perspective, there should always be title insurance; the title insurance company will usually serve as the escrow agent for closing. This insures that all contract conditions are satisfied prior to closing, and that good and marketable title is transferred from seller to buyer.
What Compensation Can a Goodyear Personal Injury Attorney Help Me Receive for My Injuries?
February 27, 2016 Leave A Comment
If you have been injured in an automobile accident, slip and fall, or in an accident at work, a Goodyear personal injury attorney can help you understand what compensation you may receive. At the Law Offices of Mark Wm. Hofgard, Esq., our compassionate lawyers realize that negotiations with an insurance adjuster can be stressful and upsetting. Ultimately, you just want to be reimbursed for your injuries. Fortunately, a personal injury attorney can work on your behalf to negotiate with the insurance company and manage your case. Not only does this allow you to focus on recovering from your injuries, but you may even receive a larger settlement. In fact, a study by the Insurance Research Council (IRC) found that injury victims represented by a personal injury attorney receive insurance payments an average of 3.5 times higher than those without representation. Although the process involves a myriad of variables, there are certain types of compensation that are considered during insurance company negotiations.
Medical Expenses: Possible medical expenses include the charge for the ambulance, emergency room fees, x-rays and scans, surgery expenses, braces or crutches, medications, and physical or other therapy. If your physician determines that you will require ongoing or future medical treatment as a result of your injuries, that cost is considered part of your medical expenses claim as well.
Property Damage: If your car was damaged or totaled in the accident, you can receive compensation for the cost of the repairs or the value of the vehicle, if damaged beyond repair.
Lost Wages: Lost wages compensation reimburses you for any loss of earnings as a result of your injuries. This includes time recovering from your injuries, time away from work for medical care and appointments, and even lost wages that result from moving to a different position to accommodate any physical limitations stemming from your injuries.
Pain and Suffering: It is difficult to determine a value for your pain and suffering. Legally, however, there are several methods that are used to calculate a fair value. The multiplier method takes the cost of your medical expenses and multiplies it by between 1 and 5 to determine a pain and suffering value. The multiplier can vary based on the severity of the injury or the nature of the accident. Another method, the “per diem” method assigns a value for each day and multiplies that value by the number of days it takes to achieve maximum medical improvement. Other methods are used as well. Your Goodyear personal injury attorney can help you determine a fair value for your pain and suffering.
Although these represent the most common damages associated with an accident, your attorney can help determine if other forms of compensation are appropriate in your case. If you have been injured in an accident, contact Mark Hofgard for a free consultation! Remember, our experienced Goodyear personal injury attorney puts you first and never charges legal fees unless we recover compensation in your case!
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