Did you know that as the home Buyer, your Real Estate Agent's commission is paid by the seller of the home in almost all circumstances? This means your representation costs you nothing!
The Seller's Agent has a Fiduciary Duty to the Seller. That means he is legally required to do everything he can to support the Seller's Financial Interests. So if you think going to the Seller's Agent may result in getting a better deal on the property, that is almost always mistaken; the Seller's Agent (or Listing Agent as they are sometimes called) is legally required to disclose absolutely everything he can find out about you to his client to help them get a better deal from you. In other words, anything you say to him can and will be used against you (by law)!
In contrast, a Buyer's Agent is legally bound to help you get a better deal in every way they can. And amazingly, through long-standing real estate conventions, their pay is almost always provided entirely by the Seller, so you get someone absolutely loyal to you and working for your best interests at no charge!
Here is how you can prepare for the best, most successful house-hunting process:
Meet with a real estate professional: Discuss the type of home you're looking for, including style, price, and location.
The Buyer's Advantage: As the home buyer, your agent's commission is paid by the seller of the home in almost all circumstances. This means your representation costs you nothing!
Get Pre-Approved: You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience
Search for Homes: The fun part! Your agent will schedule showings and help you find the perfect home.
Advanced Search: Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.
Make an Offer: Your agent will prepare your offer based on the price and terms you choose.
Negotiation and Contract: It may take a few tries to get it just right, but hang in there. You're on your way!
The Contract: In most cases the contract provides you with a timeline to obtain financing as well as time to inspect the physical condition of the home. Your real estate professional will inform you of all your rights and responsibilities related to the contract.
Under Contract or In Escrow: You and the seller have agreed to the price and terms. The home is effectively held for you until closing.
Final Details: Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.
Preparing for Closing: You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will manage this entire process for you.
Closing: This is the transfer of funds and ownership. A title company or an attorney typically acts as an independent third party to facilitate the closing.
I like to find and negotiate the best deals possible for my Clients, so specialize in Buyer's Agency. Email or Call me at 808-635-0688 for more information and a completely free consultation.