ZFM

Welcome to my Blog

Please feel free to post comment on this blog if you own or would like to own properties in Western New York. Ask any questions you need answers to. I have a couple of years experience of owning in WNY, am a qualified Construction professional and have learnt a lot about the Real Estate system through the 10 properties I own with my family in Western New York.

Wednesday, 10 February 2010

Buying Property

There are a number of people you need.
The Realtor who is in fact the agent for the Seller of the Property and is the broad equivalent of an Estate Agent, except that they are licensed. They are paid by the Seller.
The Home Inspector who will do a full inspection of the property and supply a detailed report and photographs. This report will detail the type of construction so you end up with a pretty good idea of how it was built. It will also list the defects and give recommendations ranked by urgency and the measures needed to effect repair. Typically his fee for the inspection will be $350 -$400.
The Licensed Appraiser who will inspect the property and give a financial appraisal of its worth by comparing with other property transactions on adjacent properties. This enables you to put the asking price in some sort of context. Typically the Fee for the Appraisal will be $200- $250.
The Attorney who will act for you during the conveyance. I will do a separate biog on the process.
The Property manager who will manage the property post completion. Again this will be the subject of a seperate blog.

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