Client Guides

We help to find your Real Estate for you. Our Company has access to any real estate in the Bahamas.

10 Steps to Buying a House

Step 1: Check your credit score
Step 2: Figure out how much house you can afford
Step 4: Get pre-approved
Step 5: Start the home search
Step 6: Make an offer
Step 7: Schedule the inspection if need
Step 8: Secure your financing
Step 9: Purchase a homeowners insurance policy
Step 10: Close and move

Benefits of Real Estate Agents for Home Buyers

Why use a real estate agent to buy a home

Save money on your home purchase
Gain access to listings faster
Personalize your shopping support
Access professional negotiating power
Get paperwork and process assistance

Buying a home is a significant financial transaction and a major decision. That’s why 85% of buyers use a real estate agent or broker to help them navigate the complicated home search and purchase process. For most buyers, having an expert by your side who has your best interest in mind is a no-brainer.

Why use a real estate agent to buy a home?

In a Zillow survey, buyers who hired agents reported these as the top-three, highest-valued activities provided by their real estate agent:

Organized and submitted the paperwork associated with purchasing their home (87% of buyers with an agent said this service is very or extremely valuable)

Took buyers on private home tours (84% said this was highly valuable)
Led contract negotiations (84% said this was highly valuable)

Save money on your home purchase

Buyers typically do not pay an out-of-pocket cost to work with their own agent. The seller generally pays their listing agent a gross commission, which is then split between the listing agent and the buyer’s agent. However, in some cases, buyer’s agents do pay their agents directly if they agree to their buyer’s agency agreement, so be sure to discuss commission payment terms with your agent carefully.
Buyers agents can help you save in many other ways. They can help you avoid paying too much for a house, can use negotiation strategies to get you a better deal and ensure you are fulfilling all contractual obligations so you don’t end up in legal or financial hot water.

Determine fair market value

When you’re ready to put an offer in on a home, your agent should be able to help you determine an appropriate offer price, based on the fair market value of the home and market conditions. To do this, they’ll run a comparative market analysis (often abbreviated as CMA), using comparable, recent nearby sales.

Your agent can also help you adjust your offer price to account for any glaring defects in the house.

Negotiate offer price

Your agent knows the local market better than you do, so they can let you know when it’s reasonable to push for a better deal. Market conditions change month by month and season by season, and your agent should be well-versed in these fluctuations. For example, just because you’re buying in a sellers market, it doesn’t mean you won’t be able to negotiate — it all comes down to the individual home, price and seller. A skilled agent can also gain pricing insights by talking to the listing agent. For example, before you submit an offer, your agent can ask the seller’s agent how firm they are on price.

Keep the purchase on track

There are a lot of deadlines to keep track of in a home purchase. Your agent will ensure you’re fulfilling your end of the deal, which can help you avoid costly missteps.

Gain access to listings faster

As a buyer, you can search most public listings, both agent-listed and for sale by owner (FSBO), on Zillow and agent sites, but agents are plugged in all the time to what’s on the market and can often spot new homes that have come on faster than you can.

Networking with other agents

There are many reasons why a listing might still need to be added to the local MLS. Perhaps the seller is still completing renovations, or they’re waiting until the holidays are over to put their house on the market. Through their connections with other local agents, your agent may have knowledge about homes coming on the market soon, before they show up on the MLS.

Extensive knowledge of what’s available

Agents usually have a better grasp on the inventory in your area, and the MLS functionality they have access to has more filters than what you’ll find on buyer-facing sites. If you’re looking for a very specific home, you’ll have better odds of finding it when you work with an agent.

Similarly, if your agent works with many buyers like you — first-time buyers, for example — they already have a good working knowledge of the active listings that are likely to fit your criteria and can make suggestions based on your must-have list.

Ability to spot red flags

Because agents tour many homes and attend inspections, they know the warning signs for expensive issues like failing roofs and water damage. This knowledge can help you avoid a home that’s more of a fixer-upper than you’re looking for and also help you avoid inspection issues before closing.

Personalize your shopping support

Especially for first-time buyers, the home purchase process can be overwhelming. Even experienced buyers need help to keep up with all the details. A great buyer’s agent spends time searching for homes that fit your criteria, negotiating and drafting contracts, advocating on your behalf, and generally overseeing the process. Having an experienced agent by your side can be a relief, especially with so much money on the line.

Real estate agents owe certain duties to the clients they represent, which means they have a legal and ethical obligation to serve your needs, which can include:

Working for your interest in the transaction
Providing disclosures
Offering guidance
Keeping certain information confidential

Access professional negotiating power

Buying a home is exciting, stressful, and often emotional. If you do the negotiating without negotiating experience, your passion could compromise your ability to get what you want. Agents know how to frame requests in a way that makes sellers more likely to oblige, and they can do all the negotiating while maintaining a good rapport with the listing agent and seller — which can come in handy if issues come up later in the deal.

Financing

You can try to get a pre-approval mortgage loan to help narrow your price range. The Agent/Client Relationship – My Bahamas Realtor Limited starts the relationship by sharing a wealth of information and knowledge about Bahamas Real Estate, purchasing, and legal aspects, and informed news and views of what it will be like to become a member of a new island community. We work especially hard to build a complete picture of what it is like to purchase in the Bahamas. We have a great network with Financial institutions in the Bahamas for USD and B Dollar financing. We set up easy communications, working with you to find the best way to keep you informed. We listen closely while you tell us about your investment goals and reasons for buying, and we identify a time frame for purchasing.

Create a List

The description of what you seek is very important to us. My Bahamas Realtor has the largest collection of current information about properties in the Bahamas and the more thorough and descriptive you can be, the more we can present to you. Key factors of your dream home are important to identify. What’s your preferred location? How about your special combination of beach, dock, and waterfront? What is the number of bedrooms, and the types of amenities you’re looking for? Are you planning to rent? If you are, what is your target income per year?

Create a Buyer Profile

This will help the buyer be informed about what is on the market and allow them to see all new listings in their criteria.

Steps to Selling a House

Have you been thinking, “I want to sell my house, but where do I start?” If so, you’re not alone. The typical seller lives in their home for 13 years before putting it up for sale, and they spend an average of seven months thinking about listing their home before taking action.
Perhaps you’re thinking about selling your home because you need more space, you’re ready to downsize, or you’re relocating for school or employment reasons. Whatever your reason, it’s important to be prepared for the sale process. It can be both emotional and stressful, especially for first-time home sellers, since you probably have an emotional connection to your home — and because it’s likely your biggest investment.

As a first-time home seller, you have the advantage of having gone through a purchase and sale transaction when you bought the home. As a buyer, you spend time gathering your financial documents and searching for the perfect home. As the seller, much prep work is required, too, but it’s just a different type — you’ll spend your time getting your house looking its best for potential buyers. And depending on your plans, you may also have the added stress of buying and selling at the same time.

First-time home seller guide

The following 10 steps compile several of the best tips for selling your home.

Identify your motivation for selling.
Research the best time to sell in your area.
Commit to a representation strategy.
Complete home improvements.
Price your home competitively.
Stage your house to sell.
Market your listing effectively.
Watch for closing hurdles.
Move out

Fulfill closing obligations.

Once we get all the information from you about your ideal situation, we then tailor a comprehensive package for your specific type of property, providing you with pertinent facts about government requirements, legal aspects, forms of agreement, and all the necessary materials. It is now that we can get to work finding your perfect property in our beautiful country.

Make an Offer

Keep in mind that you may need to negotiate, so you may want to sit down and outline everything you may need or want from the deal.

Extras

Are you going to need homeowner’s insurance? Or a home inspection? Now’s the time to do it.

Closing

You will need to sign all the legal documents to have the title conveyed to you, make sure you read everything.

Like to take the next step toward your dream in the Bahamas? Have questions about Bahamas Real Estate? please contact us.

Seller’s Guide to Bahamas Real Estate

Selling Real Estate

It is our pleasure to be of assistance to you as you prepare to sell your property in the Bahamas. Our whole process is about you, your plans, and learning how we can best facilitate them. It would be useful to you if we mentioned a little about the process of selling property so that you can be fully prepared for the road ahead.

Reasons For Selling

Know why you’re selling and be able to discuss those reasons with your agent. This could assist with finding a buyer for your property.

Relationship with an Agent

Starting the relationship by sharing a wealth of information and knowledge the selling process, all legal aspects, and information on the state of the market. We work especially hard to build a complete understanding of your needs and wants. We set up easy communications, working with you to find how you would like us to let you know. We’ll be sure to listen closely while you tell us about your goals and selling goals, and identify your time frame for sale.

Fix-It Up

Clean the interior and exterior to increase curb appeal as necessary. Think about how to stage the home for showings. Remember – first impressions are lasting impressions!

Establish an Asking Price

Please discuss with your realtor what they think your asking price should be based on the market; be honest with them about your needs and expectations.

Signing a Listing Agreement

This will formalize your agreement with the real estate company and, if you decide to sign an Exclusive Listing Agreement with My Bahamas Realtor Limited, sellers can expect many additional benefits.

Marketing the Property

We will establish a marketing plan for your property that will include photography, advertising, web exposure, and many other customizable facets to get the word out about your property.

Showing the Property

Our agents will show your property to as many potential buyers as possible. Our agent will provide you with an important list of things to do in order to prepare your home for each showing. This will allow us to show off your property in its best light.

Offer is Presented

A buyer will go ahead and submit this to you in writing, read over it, consider what you require from the sale, and either reject the offer, make a counteroffer, or accept it. You may need to negotiate, so you should outline everything you need or want from the deal.