By John Fitzgerald, Mortgage Loan Officer
So you have decided that it’s time to make a move! Whether you are purchasing a home for the first time or the sixth time, buying a home is an exciting event. Fortunately, a real estate agent acting as your buyer’s agent can help you navigate the process and allow you to focus on everyday life, all while planning your eventual move to your new home. Let’s discuss how your local realtor can help you find the right home for you and your family.
Better Access to More Information
Realtors help you navigate the home buying process by knowing about houses that are “off-market” or have yet to be listed through the local Multiple Listing Service (MLS). Additionally, a real estate professional has access to more information through the MLS than you do. Some information regarding a home is public knowledge, however finding it could prove difficult. Lean on your agent to find out about the neighborhood, association fees, and home owner association restrictions. Equally important, the agent could be familiar with what inspectors will flag as problematic and will recommend testing for radon or other tests to make sure the home is sound.
Scheduling Your Viewings
Your real estate agent finds homes based on the criteria that you have provided, and once you have chosen the homes that you want to view personally, your realtor will make appointments with the sellers’ agents for you to view the homes. Depending on the number of homes you want to view, this can be especially tricky and time consuming. While viewing the homes, your realtor can point out positives (or negatives) that your untrained eye might miss.
Negotiating for You
Once you have found the home of your dreams, the buyer’s agent is ethically bound to work on your behalf to negotiate for your best interests. Using their market expertise, they will help you determine the appropriate asking price based on your budget and pre-approval from your lender, and negotiate the terms of your offer with the seller. In addition to price, items such as time of possession after the closing date, inspections and possible repairs are all items that need to be agreed upon by both sides. Based on the inspection and appraisal results, additional negotiations may be necessary. Leave all of that to your realtor.
Coordinating the Transaction
Once a legally binding purchase agreement has been signed, your realtor will coordinate inspections and paperwork between parties, and make sure that all owners and lienholders of the property are paid off at closing. They will also work with your lender to make sure all requirements for your mortgage are being met. Your realtor works with a title company to make sure that all these parts of your purchase are satisfied well before your closing date.
As you can see, your real estate agent professionally handles a variety of tasks and allows you to focus on your everyday life, as well as your upcoming move into your new home. Once you are pre-approved, work with a professional realtor to ease the home buying process.