With more than 20 years experience in the real estate business, Patricia Boyd and Lonny Coffey have seen plenty of consumer problems, as homebuyers and sellers alike have been taken advantage of by unethical agents or lenders. According to the authors, the answer lies in educating the consumer as well as training for the professionals who serve them.
Boyd and Coffey show consumers, step-by-step, what should happen in a real estate transaction, and offer detailed insights on putting together the most ethical, effective team to make the transaction happen without surprises. They explain the role of each participant in the process, and what consumers should watch out for at each step. They outline all-important details on how to avoid foreclosure, as well as the range of options available to finance a real estate deal. With their finance expertise, Boyd and Coffey are able to point out financing alternatives for marginally qualified buyers, and the ins and outs of refinancing, which can comprise up to one third of the mortgage market.
Here are some ways to make a real estate transaction as rip-off-proof as possible:
* Identifying the five major players on the real estate team, and the relevant expertise a consumer should look for
* What are appropriate fees--and which ones are red flags
* When and how to refinance--or not
* How to avoid foreclosure
* Why consumers need to take charge, and how they can do it
