For Buyers
Tips and Advice for Home Buyers- part 1
I was reading a blog post the other day written by Marc Davidson from 1000 Watt Consulting. He was talking about an awful experience he had with a real estate agent. Apparently the agent got really upset with a home inspector who, after a complete inspection of the property Marc and his family were considering buying, had a list of defects he found with the home. The agent called the inspector a “deal killer” while Marc was thinking the inspector had saved him from making a huge mistake. This made Marc wonder if the agent was actually representing him. This is not a question buyers (or sellers) should be asking when working with their real estate professional.
There has never been a better time to buy property. Right now you have an incredible opportunity to buy your dream house at an affordable price. Deciding it is the right time to buy a house is a big decision. It is probably going to be one of the biggest decisions of your life, not to mention one of the largest financial investments you will make. In this market, many buyers are asking, “Why should I buy now?” The answer is that the actual cost of ownership will probably never get lower. I am talking not only the price, but the true cost, which takes into account the current historically low interest rates. KCM Crew and J. Philip Faranda from PowerSites cover more reasons well in their latest posts.
This experience should also become one of your fondest memories. As exciting as this can be, it can also be overwhelming and emotionally draining. Whether purchasing your first home, a vacation home or investment property finding the right property, negotiating a contract, handling the mounds of paperwork involved and getting through the home inspection and financing process can be daunting. A good buyer’s agent will make the process less confusing, and ultimately make this a great experience for you.
There are a lot of reasons people decide to buy a home, and there are a lot of factors to consider once you have decided the time is right for you. Finding your perfect home is a process that can be confusing and surrounding yourself with professionals who know the real estate market and have knowledge of the industry is possibly the best decision you can make right from the start. How do you find and meet these professionals? You start with a real estate buyer’s agent.
What is the Buyer’s Agent Job?
Done correctly, a buyer’s agent’s job is to put the buyer’s interest ahead of all other, including the agents, disclose all material defects, keep the buyer’s information confidential, provide buyer’s with sufficient information to make an informed decision on purchasing a home and expertly negotiate on the buyer’s behalf. When you hire a buyer’s agent these are responsibilities you are owed as a client of the agent. http://www.nh.gov/nhrec/
A lot factors should be considered when choosing an agent to work with you during this exciting time. You will be spending a lot of time and communicating often with your buyer’s agent. For this reason, it is important that you are comfortable and have a good rapport with the agent. You need to make sure they are knowledgeable about the local real estate market and the industry as a whole. One of the ways to be sure you are hiring the right person is to schedule a buyer’s consultation.
During this consultation you and the agent should go over your wants and needs for your new home, financing options and the state of the current real estate market. After this initial meeting with the agent you should be comfortable in your knowledge of the home buying process and the real estate market in general.
Here are a couple more reasons you should hire a professional
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Part two in this series will cover what questions you should ask and what information you should obtain from the agent during this consultation so you can be comfortable knowing you are hiring the right agent for you.
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