{"id":1144,"date":"2015-10-07T13:42:38","date_gmt":"2015-10-07T13:42:38","guid":{"rendered":"http:\/\/thehoneybeehomes.com\/home\/?p=1144"},"modified":"2015-10-22T19:30:51","modified_gmt":"2015-10-22T19:30:51","slug":"4-types-of-real-estate-companies-you-need-to-understand-in-grand-rapids","status":"publish","type":"post","link":"https:\/\/thehoneybeehomes.com\/home\/4-types-of-real-estate-companies-you-need-to-understand-in-grand-rapids\/","title":{"rendered":"4 Types of Real Estate Companies You Need to Understand in Grand Rapids"},"content":{"rendered":"

\"Real<\/a>Real estate is a big field. \u00a0There are a lot of moving parts in housing transactions, and a wide variety of real estate companies.<\/p>\n

What is the difference between all of these companies? \u00a0What do they do, and when are they important?<\/p>\n

1. \u00a0Inspectors<\/strong><\/p>\n

House inspectors are experts in structures and buildings. \u00a0A thorough inspector will be able to walk through your property, and diagnose areas of concern. \u00a0From separated gutters to insect issues to foundation flaws, they find areas that need attention and repair.<\/p>\n

A good inspection can take\u00a0several hours, so be ready to commit to an afternoon at home. Know in advance that they WILL find problems in the home. \u00a0No house is perfect… don’t\u00a0get stressed over minor repairs!<\/p>\n

\"Inspector\"<\/a>Also, remember that inspectors are generalists. \u00a0Typically, they are true experts in one or two fields, and have a good general knowledge of other repair issues. \u00a0They may very well refer you to other real estate companies or contractors, such as an electrician or foundation pro.<\/p>\n

When to use them:<\/em> Use inspectors to determine what kind of repairs a house needs. \u00a0Once you have a thorough report, you can determine how much these repairs cost, and whether you will be able to handle the fixes.<\/p>\n

2. \u00a0Surveyors<\/strong><\/p>\n

Land surveyors determine the boundaries of property. \u00a0Using official documents and specialized equipment, they place markers on the edges of the property line. \u00a0These could be wood or metal posts.<\/p>\n

\"Surveyor\"<\/a>Be aware that removing the posts they put down is illegal, even if you own the land!<\/p>\n

Once they have properly marked the area, the surveyor will create a map of the property. \u00a0This will measure the area by degrees, feet, and inches, and will note any structures on the land. \u00a0This will be filed with the local county clerk or registrar’s office, and can be obtained cheaply afterwards.<\/p>\n

When to use them: <\/em>If you aren’t sure where the property starts and stops, get a surveyor. \u00a0This can be especially helpful in rural areas, places with many acres of land, and any time there is a dispute over property lines.<\/p>\n

3. \u00a0Appraisers<\/strong><\/p>\n

Appraisers use a variety of real estate data to help determine the value of a home. \u00a0This is a multi-step process, and generally starts with an analysis of the market area. \u00a0They will look at other homes in the area, previously sold comparable houses, and pending sales to help figure out what similar places are selling for.<\/p>\n

\"Interior\"<\/a>They will also visit the home, and look at it room by room. \u00a0The appraiser will assess the condition of the house, and take all features into account (such as laundry rooms, fireplaces, master bathrooms, etcetera). \u00a0While they will look for general structural issues, they will not look at repair issues the same way an inspector will.<\/p>\n

The appraiser\u00a0will then compile\u00a0the data and determine\u00a0a value for your house.<\/p>\n

Many different real estate companies use appraisal reports. \u00a0Mortgage companies will hire their own people, in order to determine how much money they will lend. \u00a0Realtors also use recent appraisals to determine listing prices.<\/p>\n

When to use them: <\/em>If you’re getting ready to sell your house, and aren’t sure of the value, consider using a licensed appraiser. \u00a0In addition, if you are an investor purchasing a home with cash, an appraiser can prevent you from over-paying for a property.<\/p>\n

4. \u00a0Title Companies<\/strong><\/p>\n

In short, a title company ensures that you truly\u00a0own the house you purchase. \u00a0They review all transactions that have occurred for the house, and check for any outstanding liens on the property. \u00a0They will also check the ‘chain of title,’ and make sure everyone has signed the proper documents prior to the sale.<\/p>\n

\"Title<\/a>Once the company\u00a0is confident that you can have\u00a0‘clear title’ to the house, they will issue title insurance. \u00a0This protects you from any future lawsuits or liability relating to prior ownership of the house.<\/p>\n

In Michigan, title accounts\u00a0also maintain escrow accounts. \u00a0This means they can hold\u00a0the money needed to close the sale, so everyone gets paid properly.<\/p>\n

When to use them:<\/em> When you are buying or selling a house in Grand Rapids, use the services of a title company. \u00a0You can then be confident that won’t be sued for an outstanding lien years down the road.<\/p>\n

These four types of real estate companies can be crucial to making smart decisions when buying and selling real estate in Grand Rapids. \u00a0Use their services, and sleep better at night!<\/p>\n","protected":false},"excerpt":{"rendered":"

Real estate is a big field. \u00a0There are a lot of moving parts in housing transactions, and a wide variety of real estate companies. What is the difference between all of these companies? \u00a0What do they do, and when are they important? 1. \u00a0Inspectors House inspectors are experts in structures and buildings. \u00a0A thorough inspector Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,16],"tags":[45],"class_list":["post-1144","post","type-post","status-publish","format-standard","hentry","category-grand-rapids-mi-homes-for-sale","category-grand-rapids-mi-real-estate","tag-real-estate-companies"],"yoast_head":"\n4 Types of Real Estate Companies You Need to Understand in Grand Rapids | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thehoneybeehomes.com\/home\/4-types-of-real-estate-companies-you-need-to-understand-in-grand-rapids\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Types of Real Estate Companies You Need to Understand in Grand Rapids | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate\" \/>\n<meta property=\"og:description\" content=\"Real estate is a big field. \u00a0There are a lot of moving parts in housing transactions, and a wide variety of real estate companies. 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