by Pat Leavy
on Monday, November 25th, 2019 at 11:30am.
There’s a lot of money and dedication that goes into buying a home. If you’re a first-time homebuyer, this can be a scary exercise. You don’t want to spend your hard-earned money on something that doesn’t excite you. You also don't want to invest in something that won't give you returns.
Buying a home requires thinking about the long-term. If you do it wrong, the decision will haunt you in the future.
To avoid the stress and complications that come with buying a home, it’s advisable to seek the counsel of a qualified real estate buyer agent. But what exactly does a real estate buyer agent do for you?
Identifies the Right Financing Option
Financing is one of the most critical areas of any home-buying process. While buying in cash might be simpler, the same cannot be said about a mortgage. If you are looking to buy a home on a mortgage, then you need to identify a viable financing option.
A real estate agent will help you identify the most ideal financing option and give you information on the available purchasing incentives. You will also need to be pre-qualified and pre-approved to be eligible for a mortgage. Your agent will help you understand and fulfill the obligations of pre-qualification and pre-approval.
Researches the Most Ideal Properties
Most people house hunt on their own before planning to buy a home. However, there’s much that goes into identifying a property beyond visiting a list of houses labeled for sale. You need to highlight your needs and determine how or if those needs will be fulfilled by the property you want.
An agent will research the available properties in your preferred area and set you up on email alerts. They will shield you against inaccurate details about houses available for sale in your area. You’ll also be notified about properties that have not been updated on the Multiple Listing System.
Since it’s not reasonable to tour all the homes available in your area, your agent will single out the most ideal homes for you. They also will help you identify defects and all the pros and cons of each home.
Enlightens You on Market Dynamics
Real estate agents understand the dynamics of the market based on the current value and future expectations. For instance, if you are buying a home as an investment, they will advise you on the best time or place to buy. This is because they have sufficient information on whether the area is a buyers or seller’s market.
Helps with Home Inspection
Once you’ve identified a house that excites you, you need to carry out a home inspection. This requires you to get a professional home inspector who will give you a breakdown of the true state of a property.
Your agent will help you get the most qualified and experienced home inspector. He/she also will attend the home inspection to ensure no detail is left out by your home inspector.
Navigates You Through the Negotiations
Before making an offer, it’s vital to involve someone who understands home valuation. A real estate agent will have stats on the going rate for similar properties. This puts them in a better position to secure the best deal.
There are also fraudsters out there; hence, appropriate seller disclosure is indispensable. Your agent will explain all state and federal requirements before you commit to buying a property.
Closes the Deal
After the inspection is done, your agent will let your seller know any concerns based on what was observed. He/she will ensure the property is in the same or better condition before it’s handed over to you.