Important Steps Buyers should Take to Find the Perfect Home or Property
The First Step to Buying a Home or Property, is to get a Pre-Approved for Loan. This process can take a few weeks and is important to complete. Contact us and we can refer you to local lenders that specialize in your type of property. If you are paying cash, then all you will need is a letter from your bank confirming proof of funds.
Buying a new house is fun and exciting, but making common mistakes when buying a house can lead to extra costs, unnecessary stress and unforeseen problems.
HOME BUYER MISTAKE #1 Not working with a Buyers Agent!
It surprises me how many home buyers think that they can negotiate a better deal or save money if they contact the “listing agent or sellers agent” directly. What the majority of home buyers do not realize is that in the state of Texas, and many other states, a Realtor or Real Estate Agent has a fiduciary responsibility to their client. Which means that the Listing Agent also known as the Seller’s Agent can not and will not negotiate any deal that is not in their clients best interests. Nor will the seller’s agent give any advise or guidance to the home buyer during the buying process. If a prospective new home buyer approaches the listing agent or sellers real estate agent directly with an offer, the buyer is not represented in any way. The process is a complex process with many steps that have different deadlines.
I have had many buyers say I do not need representation! Well I can point to many examples of buyers that have done deals without a buyer’s agent. At the end of the deal they start to realize that the seller’s agent did not give the them any advise or look after their best interests! As a new home buyer it is important to keep in mind that the listing agent or seller’s agent will ONLY LOOK AFTER THE SELLER’S INTEREST! To ensure you are protected as a home buyer, it is important to FIND AND WORK WITH A BUYERS AGENT that is a professional and will look after your interests.
THE BEST PART FOR A BUYER WORKING WITH A BUYERS AGENT is that it is FREE to the Buyer!
The most obvious reason a buyer should hire a professional buyer’s agent to represent the buyers best interests in the purchase of a house is that it is free to the buyer. It’s highly suggested as you think about hiring a buyers agent that you keep in mind they’re protecting your best interests during one of the biggest transactions you’ll ever take part in.
SHOWING YOU HOMES AND NEGOTIATING IS ONLY THE START of What A Buyers Agent Will Do for You
If you think the home buying process will entail just looking at a couple of properties and making a decision, you should think again. In real estate, a buyer’s agent assists potential home buyers with all aspects of the process of buying a home, from start to finish. In fact, it can prove to be far more complicated and stressful than you would imagine, and it can be much easier with an advocate by your side. That’s why you should plan to hire a buyer’s agent, as there are a number of ways an agent can make buying a home much less of a headache.
First and foremost, they can help you find homes that suit your needs and preferences. That might include searching for homes and sending you listings for you to check out, and then they will schedule showings on your behalf. Once you’ve located your ideal property, they can also write offers for homes you would like to buy, assist with inspections and negotiations, and guide you through the closing process. Essentially, a buyer’s agent will serve as your go-to resource for anything related to buying a home.
A BUYER’S AGENT HELPS IN MORE WAY THAN ONE – They’ll Get You In The Door.
An important aspect of a buyer’s agent’s job is to provide you access to homes that interest you. Your agent will take into account your key home buying wants and needs, then work with you to narrow down the houses that fit your search criteria. Once you’ve found properties that you’re interested in, they will act as a liaison between you and the seller or seller’s agent to set up appointments for you to get a first look at those houses.
They’ll Have The Tough Talks. Remember, this is likely the first time you’ve been in this position and there can be a number of nerve-wracking parts of the home buying process. One of the most often-cited is when a buyer has to have hard conversations with the seller about improvements you expect to be made to the home before finalizing the transaction. Fortunately, this is where having a buyer’s agent working on your behalf comes in handy, as they are used to these conversations and can handle them with the best strategy.
For example, did you or your inspector notice a leaking water heater or cracked window? You might not be sure of the best way to negotiate with the sellers to get that fixed, but your buyer’s agent is a pro and can guide your negotiation, including ultimately contacting the sellers regarding any repairs or changes in price that you request.