EXECUTIVE CHRONICLES | Why Get Trusted Real Estate Agents When Buying Properties in the Philippines | Congratulations! Your real estate agent was able to locate the residence of your dreams for you. Undoubtedly, now is the moment to rejoice. It’s possible that the two of you already have a solid relationship at this point. However, the journey does not finish after one has found a place to call home; it is only the beginning. It’s possible that you’re just getting started when this happens.
If you ask anyone who has ever purchased property, they will tell you that the transaction will be a lengthy and time-consuming one. No one is more knowledgeable about this than your agents themselves. Because of this, it is still necessary, even at this time, to keep questioning them as often as possible. Before you begin the process of buying a home, there are a few things you need to discuss in depth with your real estate agent, and we’re going to go over those with you now.
Could we make a request for a competitive analysis of the market?
Give your real estate agent the responsibility of determining whether or not the price you are offering for that house and lot or condo is fair. There’s always a chance that the property’s appraised value will be lower than the offer amount. If, for example, you discover that the property is located in a market that is already quite competitive, then certain bids may discourage some of the sellers.
For this reason, you should also inquire as to whether or if there is room for bargaining. A professional real estate agent should be ready to offer guidance on the following actions you should take prior to making the actual purchase.
What are some of the things that we can do to make concessions?
When we talk about purchasers asking sellers for different types of concessions, we are referring to the requests that buyers make. Some examples of these concessions include the seller paying for the refurbishment of the bathroom and pipes, as well as an exterminator and a home guarantee for a period of six months. These terms can be worked with by your agency. Feel free to ask your agent if they have any ideas about how the two sides may come to an agreement that will satisfy both of them.Which warning signs are there in this home, in your opinion?
Just have a conversation with your agent if they predict any unforeseen difficulties. Because of their extensive experience, in-depth familiarity with the listing, and in-depth study of the market, they undoubtedly recognize a warning sign when they see one.
What are the estimated costs associated with the closing?
You have to take into mind a variety of fees, some of which include things like transfer tax, title registration charge, documentary stamp tax, and more. Closing costs are another one of these prices. Make it a point to inquire with your agent about the necessary paperwork and the requirements.
A few additional costs, like as fees for the notary public and such things, should also be taken into consideration. Any real estate agent that is looking out for your best interests will be aware of this fact and will gladly give you a sample estimate of the closing expenses.
If you can believe it, there are certain real estate brokers out there whose only goal is to make a sale. Take precautions with the kind of agent you have. Employing a trustworthy real estate agent who has your best interests at heart is essential from the very beginning of the home-buying process all the way through to its conclusion. Always keep in mind that it is more important to ask the appropriate questions than it is to just ask inquiries.
Are you interested in purchasing a property that has been previously owned? To begin things rolling, you should get in touch with an Ohmyhome property agent as soon as possible. Visit Ohmyhome.com or download the official Ohmyhome app to learn more about the latest and greatest property listings across the country, as well as how our online ecosystem can assist buyers and sellers just like you.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down their choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.