Buying a home is a complicated process and can lead to great disappointment if problems arise. Below, I will show you how using a real estate agent can help simplify the process and lead you to a better home-buying experience.
A REALTOR® is a real estate professional that is a member of the NATIONAL ASSOCIATION OF REALTORS®. REALTORS® are pledged to the strict Code of Ethics and Standard of Practices of the NATIONAL ASSOCIATION OF REALTORS®. I am an active member of the NATIONAL ASSOCIATION OF REALTORS®.
As a buyer, you might ask how could that be. A real estate agent knows the market and has access to the comparisons to determine if the home that you're interested in is overpriced. They will be able to assist you in finding a starting point on the sales price that would be a fair offer but not offend the seller.
There are many documents that need to be used for purchasing a home besides a sales contract. For instance, a seller's disclosure , lead-base paint disclosure, and contract contingencies all must be provided to you, the buyer, just to name a few. Real estate agents fill the forms out often and have knowledge of which forms need to be attached to the contract to protect all parties involved.
Full-time real estate agents have the experience of buying and selling homes. They have obtained a license and are required to take continuing education classes to stay fresh on any changes that take place with selling property. A full-time real estate agent does multiple transactions per year and will provide you with their expertise.
A full-time real estate agent has access to properties that have been sold that are comparable to your home. A Comparative Market Analysis (CMA) can be prepared to determine a fair market price for the home. So before you get too far into the process and have money invested, you will have an idea if the home is worth the sales price.
It can be extremely difficult to separate the emotions and handle the sale of the home as a business transaction. Many buyers are extremely excited about purchasing their new home and will not be aware of looking deeper into the areas of the home that might have problems. As I tell my buyers, they are looking through "rose colored glasses" when they enter a home. I have actually had instances where the buyers furniture would not have fit in the home, yet the buyer had already fallen in love with the home. I will help you make sure that the home you are purchasing is right for you and that you are looking at all aspects of the home.
A real estate agent works with many of the local lenders and will have knowledge as to which ones do a good job pre-qualifying the buyers. There are some lenders that are diligent in doing their jobs and others who allow the process to not close on time. There are many loan programs and an experienced lender will know which programs are going to be in the buyer's best interest. Some title companies do a better job than others at preparing the paperwork for closing. It is extremely important that the documents are recorded at the court house, the title work is complete and all checks are written properly to complete the transaction. It is very important that a licensed inspector is hired to do all inspections. Your agent will know which inspectors are better than others.
Not all people are experienced in negotiating. There are many important items that need to be considered when accepting a contract. For instance, the price, how much earnest money, possession, loan commitment, and inspection dates can all play a major role in negotiating the sales contract.
As always, if you have ANY questions, please don't hesitate to call me at 417-439-5371 or email me by clicking here.