The importance of financial adviser is discussed in this content by DC Fawcett. We are also going to talk about the significance of the adviser and how much he contributes to the home sale.
His decisions are crucial when you buy a home. The mortgages, asking price, offer and taxes are some critical points in the process of home-buying and selling which is performed with the consultation of a financial advisor.
The financial adviser is easy to find as you can get every piece of information with the help of Google nowadays. You can look into NAPFA (National Associate of Personal Financial Advisors), AICPA (American Institute of Certified Public Accountants) , FPA (Financial Planning Association) are few ways to start your search.
The traits of a financial adviser can be studied through Fawcett’s review.
- Many investors just think that financial advisers should be well-versed in handling finances alone, but that not only helps. He should know the value of the investor’s money and his financial status.
- He should be able to give you alternative suggestions when your plan a fails, in other words an instant plan B should be in the hand whenever there is a mishap in plan A.
- There are trusts, stocks, REIT, groups etc in the real estate. He should have some knowledge on all the areas. He need not be an expertise, but not half-baked as it dangerous.
- Make sure you understand all the financial terms explained by the adviser. If not, stop and ask what he is trying to convey you. You can also read about financial terms by making use of the financial guides’ available online and virtual real estate investing club
- Risk is not certain as investors know the outcome; you can predict it and mitigate the effects.
- Don’t give your consent blindly without knowing what the financial adviser is doing. The qualified advisers will get an informed consent. Don’t sign any document blindly without reading terms and conditions. Sometimes the scammers are in the form of advisers and write whatever they want in the document, check whether the documents are legal or fake first.
How to hire a financial adviser?
The first and foremost, the adviser should have completed necessary certification from a reputed educational institution and undergone training which makes him/her qualified. Look out for professional designations so that it makes him qualified and the adviser is supposed to have profound knowledge.
It is merely waste if he either fails to express the skill sets wherever required or doesn’t help when you are in financial crisis.
Find how long he has been in this profession. Experience is one of the important criteria you have to check out. As real estate is a vast area, there are lots of issues to be looked into.
Question the adviser as much as you want and extract the information. Check out the adviser’s history; find whether he has been involved in any suspicious activity. He should be a good listener than a narrator. He should be able to fix your problems and not elaborate about his personal stuff.
DC Fawcett VREIC is far and wide familiar as the leading creative thinker on real estate trends; impacting the real estate entrepreneurial dealing. The virtual real estate investing club is its hub where so many have benefited as a successful realtor. He has held a number of seminars which throw light on demanding real estate concepts.