Dealing with dual real estate agents

Written by Jakob Jelling


Continued from page 1

If you've decided to work with a dual agent, this will need to be disclosed to bothrepparttar buyer and seller, and they both have to agree, in writing. Dual agents are bound by law and ethics to treat both buyers and sellers honestly, equally, and fairly. Dual agents can be prevented from divulging confidential information about each party torepparttar 112293 other. This could severely harm negotiating positions.

The bottom line in dealing with a dual agent is to remember thatrepparttar 112294 buyer and seller have conflicting interests inrepparttar 112295 price and other terms ofrepparttar 112296 sale. It's very difficult for an agent to truly and equally represent both parties, sincerepparttar 112297 conflicting interests make that inherently impossible. If you do choose to use a dual agent, be surerepparttar 112298 exact nature of your relationship withrepparttar 112299 dual agent is clear, know what servicesrepparttar 112300 agent will be performing for you duringrepparttar 112301 transaction, howrepparttar 112302 agent will be paid, and how any conflicts that arise will be handled.

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.


Mortgage prepayment penalties - Just say no

Written by Jakob Jelling


Continued from page 1

Most items in a loan are subject to negotiation. If you haven't signed loan papers yet, and you find that your loan has a prepayment penalty, you might offer to pay an additional closing point or so to see if it can be removed. The key at this stage is that if you agree torepparttar prepayment penalty, you should try to find ways to reduce eitherrepparttar 112292 amount,repparttar 112293 term, or both as much as possible.

If you already have a loan, you are bound byrepparttar 112294 terms ofrepparttar 112295 document, unless you can negotiate them. There are perfectly legitimate reasons why you may want to pay off a note early - most often, due either to refinancing or sellingrepparttar 112296 house. You may be able to contact your lender to see if they will waiverepparttar 112297 prepayment penalty if they are able to provide refinancing. If interest rates have dropped a lot, and you can't get out ofrepparttar 112298 prepayment penalty, it may be worth rolling that amount into a new loan. And of course, try to getrepparttar 112299 new loan without a prepayment penalty.

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.


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