Steps To Buying A Home 1.) Finding and Using an Agent Since the commission of home sales are almost always paid for by the seller, buyers are able to get professional assistance, advise and information from REALTORS, at no cost to them. The relationship between a homebuyer and their REALTOR is based on trust and understanding. Your decision to buy a home is one of the most important decisions of your life. That's why it is in your best interest to choose an experienced REALTOR who understands your needs. Please keep in mind during your homesearching process that the REALTORS at Lamplight Realty can show you any property on the market whether it is listed with our company or another agency. 2.) Developing A Financial Plan When searching for a home it is in your best interest to know your finances. Things you will need to consider are: how much home you can afford, how much money you have for a down payment, how much debt you already have compared to your income. Your REALTOR can answer the questions you may have about what to expect financially. 3.) Get Pre-Approved This kind of goes along with the previous step. A pre-approval from a mortgage lender is a simple step that will tell you the amount of home you can afford and what your monthly payments will be. Getting pre-approved not only helps you and your REALTOR when deciding which homes to look at but also reassures the seller that you have the financial means to purchase the home. There are many different types of loan programs on the market today including many that can get you into a home with little or no money down. Your REALTOR or your lender can help you understand the different financing options available. 4.) Deciding What Type of House You Want To Purchase Your REALTOR can help you find the home of your dreams if you let them know what type of home would best suit your family. Some of the things your REALTOR will need to know to start your homesearch include: What features are important to you. How many bedrooms/bathrooms does your family need. Are you looking for any special features like a fireplace, extra large yard, fence, etc? You'll want to keep in mind what features you "want" versus "need" in a home to make your homesearch successful. 5.) Viewing Properties The more information you provide your REALTOR the easier your homesearch will be. Now you are ready to tour houses with your REALTOR and be on your way to becoming a HOMEOWNER! Finding and buying a new home should be a great experience. At Lamplight Realty we can make your dream of homeownership a reality. We will help you with your search, answer your questions and listen to your ideas. We want to make your homebuying process our #1 priority. We will not only help you search for a house but we will help you find your home. WELCOME HOME! Buyer's Agent Do You need to call the name of the agent listed on the sign in the yard? NOT NECESSARILY! Just because there's a yard with a sign in it doesn't mean you have to call them. As a BUYER, you have a right to be represented. GET A REALTOR! They work for you, and it doesn't cost you anything! You should choose a realtor you are comfortable with and then do all of your "shopping" with them. Tell them exactly what you are looking for. If you see a sign in a yard, call YOUR realtor and have them check it out for you. Very few people actually buy the first house they call about. For argument's sake, suppose that you call the Realtor who is listing the property you "might" be interested in. It turns out that the house is absolutely perfect and affordable and you want to make an offer. Do you want the same agent who represents the seller to also represent you?
When you make an offer to buy a house, you are entering a negotiation. The seller wants as high a price as possible and the buyer wants the lowest price possible. Plus, there is more to buying a house than just settling on a price. If a Realtor represents both sides, there is a potential conflict of interest, although an ethical Realtor can often equally represent both sides. In such a case, however, the agent becomes more of a transaction facilitator than an agent working actively on behalf of either the buyer or seller.
You must keep in mind that there are times when it might not work out, too. The listing agent may choose to represent only the seller and that would leave you without your own advocate.
The Crux of the Matter~Most real estate transactions go fine, but almost every one has a challenge or two. These challenges are often routine, but sometimes not. Because the agent has divided loyalties, one side or another may doubt where those loyalties truly lie. Mistrust develops. This can take a small problem and blow it way out of proportion. At that point it becomes a crisis.
Having an agent on your side as your advocate removes the mistrust and helps keep things on an even keel. If a challenge develops, you know where your agent stands.
Plus, the seller pays for it -- you don't.
|
