During the past few years, many changes have occured in Indiana real estate as far as the manner in which real estate is handled.  While some thought the internet would pose a real threat to real estate companies, making them no  longer necessary, the internet has actually become another form of marketing properties for many Realtors across the nation, Columbus Indiana real estate being no exception.  This has caused buyers to be  better prepared, better educated as they concentrate on homeownership.

The fear was years ago that buyers would simply choose a home over the internet  allowing buyers to view the home electronically, e-mail an offer and eliminate the Realtor involvement.  In reality, the internet has certainly better equipped the buyer with information on the selection available, but the interaction between seller, agent and buyer has remained an integral part of the successful transaction.

Newer changes also involve the HVCC (Home Valuation Code of Conduct) changing the way appraisers are to conduct themselves, especially as related to communication with lending institutions.  The arm’s length directive is thought to be a step to help police and solve some of the practices which made victims out of buyers as predatory lenders manipulated the transaction by trying to influence the appraiser to change the appraisal.   As these practices have been discovered, remedies have been put into effect such as HVCC to prevent such actions.

Another change involves a 3-day waiting periods to eliminate rapid changes in lending practices which could result in excessive pressure on the buyer to make quick decisions, sometimes even in the 11th hour at the closing table.  Such pressure to act is seldom in the best interest of the buyer and for this reason, the waiting period should result in better understanding and less confusion.

While some of our economic problems have involved the real estate market, many corrections have been made to the process, eliminating many questionable practices and people.

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