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| 6 Reasons You Need a Realtor® | << Back to Report List |
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It happens every day. First-time home-buyers make costly mistakes.
This report is designed to help you become an educated consumer and
avoid the mistakes that others have made. 1. Not having a Realtor® representing YOU.
Acquiring the services of a buyer’s agent means that you have a licensed
real estate agent representing YOU during the search and purchase of a
home – not the seller. Sellers have always been represented by an agent,
but now you can have your own agent guiding you through the process of
buying your first home. As the buyer, you are entitled to the same
representation and level of service as sellers. Additionally, there is
no cost to the buyer for the service of a buyer’s agent; the buyer’s
agent is paid from the listing agent’s commission.2. Not planning ahead.
From the moment you think about buying a home, start planning.
Homebuying is a time-consuming and demanding process, and you need to
utilize your management skills early on. Talk with your buyer’s agent
about the best mortgage resources and reputable professionals to get the
pre-approval process going.3. Failing to understand the homebuying process.
Buying your first home can be intimidating and confusing with multiple
page contracts, counter offers, negotiating tactics, inspections and
legal implications. As a first-time homebuyer, you should ask lots of
questions. So choose a real estate agent who has experience working with
first-time homebuyers and is willing to explain the entire home buying
process and answer your questions. An experienced buyer’s agent will be
able to explain all aspects of homebuying from viewing homes to
negotiating, to financing and closing.4. Getting in too deep.
Getting in too deep can happen when homebuyers shop outside their
budgets. Talk to a buyer’s agent who can provide insight into home
expenses, moving costs, taxes, insurance and other things you may not
think of. It’s best to ask your lender to pre-approve, rather than
pre-qualify you for a mortgage. Prequalification only tells how much you
can afford. Pre-approval goes a step further. Having your loan
pre-approved gives you a sizable advantage when making an offer.5. Signing a contract without understanding it.
Read the contract. It’s the first step to understanding what’s required
of you, the buyer, as well as the seller. Your buyer’s agent can be a
great resource in explaining each section and what it means. You’re
signing a binding, legal document. Make certain you understand the
conditions of the contract.6. Buying in an unknown location
Don’t stop your inspection at the property line. Examine the surrounding
neighborhood. Is it safe and well maintained? Is it convenient? If
you’re not familiar with the area, do your research. Learn from the
mistakes of others. It’s the best way to ensure a first-time homebuyer a
good night’s sleep.Naert Realty offers free services to buyers. Call Naert Realty at 314-773-5700 or e-mail at info@naertrealty.com. Learn more at: www.naertrealty.com/buyers.htm | |
© 2007 Naert Realty. |
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