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What do the neighbors know? A lot

 

NEW YORK – Aug. 22, 2014 – Homebuyers, sellers and real estate agents sometimes overlook a valuable information resource for both sides of the transaction: the neighbors.

Abutting property owners and other nearby residents represent a large pool of contacts for Realtors – potential buyers or sources of information that can help support the home sales.

By canvassing neighbors with news of a listing, agents can tap into a group of people who already know why living there is good, and they don't mind saying so. They can speak to the walkability of the area, and whether or not it is close to shopping and other amenities.

If there has been any crime reported locally, they'll know that too. Prospective buyers can check local newspapers, websites and insurance brokers for details about patterns, but talking to neighbors usually yields the real story.

In addition, neighbors can be invaluable resource in establishing grandfathered rights to parking, rental or other uses if the same family has owned the property for decades. To this end, affidavits from neighbors may enable new owners to obtain legal consent to continue parking and otherwise-not-permitted uses.

Source: Realty Times (08/18/14) Wade, P.J.

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

 

Related Topics: Buyer services, Seller services