Common questions prospective customers might have are given below. This list is not exhaustive, so please contact us if you have questions that are outstanding after reviewing the FAQs below.
How long is a listing contract?
A listing is usually a minimum of 90 days, because of the marketing effort that needs to go into offering the property for sale, and to give the market a chance to react.
Do I have to accept offers?
No, it is at the discretion of the seller to turn down offers. A better alternative is to counter-offer. If a ready, willing and able buyer is produced and the seller just refuses the offer, they may find themselves still responsible for the buyer's Agent's fees.
What? The seller pays the buyer's Agents fees?
Usually all Real Estate fees, of both the sellers Agent and the Buyer's Agent are paid by the seller. There is no legal maximum or minimum, but custom and practice has set these fees at 3% each.
What other fees might a buyer or seller encounter?
A buyer usually has to have an inspection of the property, although this is not mandatory. There will definitely be an appraisal required by the lender, with a fee attached.
It is actually best practice for the seller to get an independent inspection carried out prior to putting the property on the market, as that gives them time to rectify any issues that might be 'show-stoppers' for potential buyers, prior to listing.