What is the role of a real estate agent in a property transaction?

Most real estate agents help buyers and sellers navigate the complex process of property transactions. They provide market expertise, negotiate deals, handle paperwork, and ensure a smooth transaction. Here at PowerPro we want to be your all-in-one Real Estate concierge - leave the work to us so you can focus on your next move.

How can I determine the market value of a property?

Property values are influenced by location, recent sales in the area, property condition, and market trends. Connect with a real estate agent that will help you determine the value of a home.

What is the difference between a buyer's market and a seller's market?

Typically in a buyer's market, there are more homes for sale than buyers, leading to potential bargains. In a seller's market, the demand (or number of buyers) exceeds the supply (number of homes for sale), giving sellers more negotiating power. Market conditions can impact pricing and negotiation strategies.

What is earnest money, and how much should I offer?

Earnest money is a deposit to demonstrate your serious intent to buy. It's held in an account and later applied to the down payment or closing costs. The amount varies but is typically 1-3% of the home's purchase price. Discuss with your agent to come up with the best plan and offer.

Can I back out of a real estate contract, and what are the consequences?

Depending on the terms of the contract, buyers can usually back out during the inspection period or if certain conditions are not met. However, backing out without legal justification may result in forfeiting the earnest money.

How does the home appraisal process work?

An appraisal is an assessment of a property's value by a licensed appraiser. Lenders require appraisals to ensure the property's value supports the loan amount. This is done by a third party to help avoid any misrepresentations of the actual value. If the appraisal is lower than the agreed-upon price, negotiations may be needed.