Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

Selling Your Home? Why You Should Make An Agreement With Your Agent That Is Short-Term

by Luke Fields

If you are looking for help selling your home, it is natural to work with a real estate agent for assistance. They handle a lot of the legwork necessary with homes for sale, which ranges from advertising to being present for showings. When you start working with an agent, there will be a contract that you need to sign that states everything they will do for you as well as the length that the agreement is valid. Know that this is all up for negotiation, and you may want to request an agreement for a short time period instead of a long one. Here is why you should do it.

The Pressure Will Be On To Make A Sale

You want your home to be sold quickly, because every day that your home is on the market is another day that you are paying property taxes, utilities, and interest on the mortgage if you still have one. By requesting a shorter contract with your agent, you know that it will put the pressure on them to sell the home quickly. You may find that your agent will be more aggressive with their sales tactics and has more frequent open houses, because they want to make the sale while working for you.

You Have The Option To Switch Agents Later

You want to find the best person possible to sell your house, and you won't really know how they do until they start working for you. You do not want to be stuck in a long-term agreement with an agent that you don't feel is working out. Signing a shorter agreement can make you feel at ease, knowing the agreement will be over soon if you find that you do not like their sales approach. Know that if the agreement ends and the home is still not sold, it can always be renewed so you can continue working with your agent.

You Show How Committed You Are To Selling

Agents sometimes can get frustrated with a seller that is indifferent about selling their home. They may feel like they are putting feelers out there for how much they can get for the home, without actually knowing if they will accept an offer and sell. Using an agreement for a shorter term shows that you are looking to sell your home quickly, and the agent may find this more appealing because they know the process won't go on for an undetermined amount of time.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.