The Home Buying Basics Should you use a Realtor? I don’t know why a buyer would not use a realtor. Buyer’s agents are real estate professionals who work exclusively for the buyer. The buyer’s agent is there to protect your interests, and insure that you get the best home possible, at the best price. The greatest thing about this relationship is that it costs you nothing. Sellers pay real estate commissions, buyers do not. A home buyer using an experienced realtor is receiving free market knowledge, expertise in executing a real estate transaction, and exposure to the widest possible number of homes on the market. Sellers pay the cost because they want buyers to be qualified by an agent; and because they want the buyer to have experienced representation that will result in a sale. When you retain a realtor to represent you, that realtor is legally obligated to serve your best interests. Beyond legal obligations, realtors must work in the community and rely on satisfied clients to promote their business. Real Estate agents with dissatisfied customers don’t typically do well or last long in this business. What to look for when finding the RIGHT realtor. About Financing: It is imperative that you get pre-qualified for a home loan. Most sellers will not consider an offer if you can’t back up your ability to close the deal. Qualifying for a home loan is not much like obtaining financing for a new car. I would be happy to refer you to the local mortgage lender that I use, or you may wish to use a lender that you are familiar with. If you are relocating to the area and want to use a local lender who will be around at closing time, pre-qualification can be accomplished via email and the web. For help getting this part of the process started, please contact me. About what mortgage lenders do: Most mortgage lenders are actually brokers; some also have “in house” underwriting, meaning that they are making the loan themselves. A lender who can fund a loan in-house can be a lifesaver, should the third party lender fail to come thru (a rare occurrence). |