If you are considering purchasing a home or refinancing—you can go to quickenloans.com or lendingtree.com along with local mortgage lenders in your area—to determine what loan will best suit you—and your family. You can compare closing costs, APR's and Par rates to determine what loan will best serve your—and your family's long-term interests.
Learn how to apply the— “Keys to Success”—in your life
Because you have never purchased a home before it is wise to have your own representation when purchasing your home.
Even those who have bought and sold many homes have utilized buyer broker’s over the years. The reason is simple in most cases.
They get better representation and it usually costs them nothing—as the "Seller" normally pays the commission at closing—and there are no out of pocket expenses on the buyer’s part—for broker representation—in most cases.
The buyer’s broker is only required to represent the interest of the home buyer.
The buyer’s broker is not required to disclose certain facts to the homeowner or their representative, therefore improving your chance of getting the home for a better price.
As a potential home purchaser you can enter into a buyer brokerage agreement with a real estate agent.
Agents utilize a lot of time and professionalism in the home purchase process—and the top agents want to know that they will be paid for their efforts—and that is why they enter into buyer brokerage agreements with potential home buyers.
If you as a homeowner feel that you are not getting the best representation from your agent—it is best to contact the agents broker—and if that is unsuccessful—ask the agent to release you from the agreement (in many cases there is a time limit after release in which buyer’s broker will still receive a commission so be sure you know that time frame prior to selecting another agent after you are released).
By utilizing a buyer’s broker you can avoid problems that you could potentially run into by using a Transactional Broker—or a Listing Broker—who primarily has the seller’s interest at heart.
As mentioned earlier the brokerage fees are paid by the seller as part of the closing costs, so it is really in your best interest to utilize Buyer Brokerage services—and ensure that you as a buyer—are adequately represented.
To help reduce the confusion and seemingly overwhelming task of purchasing a home—a buyer's broker can be invaluable.
An experienced buyer's broker can take you through the entire process smoothly.
Even so it is recommended that you familiarize yourself with the home buying process to further grasp the terms, procedures, and options that you may face in your home search.
Try To Assist The Broker
Assuming that you are in a good "cash flow position" one of the first steps that you should take—is to pull your credit report and obtain your credit score.
If they are satisfactory you may then be in position to meet with a loan officer and/or sign a buyer's brokerage agreement.
Be sure you have a six month emergency fund and/or other compensating factors in place—and you have acceptable debt ratios—prior to purchasing your home.
It is also a good idea to review this site extensively (and other home buyer sites and/or attend seminars).
Once you have a fair understanding of the home buying process—you may want to contact a loan officer—or several to get pre-approved—to improve your bargaining power.
If you are "pre-approved" as opposed to "pre-qualified" you have more negotiating leverage when your "buyer's broker" submits the offer contract to the listing broker.
With the assistance of the buyer's broker and loan officer—you should know the price range and other factors—such as location, size, style, age, school district etcetera—that you desire in your home purchase.
With the internet so prevalent today you can assist your buyer's broker by browsing real estate listings, either online, in local papers and magazines and by driving the neighborhood with the assistance and direction of your buyer's broker.
Purchasing a home is a major legal transaction!
Because purchasing a home is a major legal transaction, and there is a lot in a purchase that a first-time home buyer is often unaware of, selecting a highly competent real estate agent to represent you is the best way of reducing stress and the fears of the unknown.
You can also reduce your stress by reviewing this site and/or a taking a home buyer education course to further prepare yourself for the home purchase process—and your subsequent home purchase.
Whether buying or selling your home, it is imperative that you choose a qualified agent whose training and experience is specific to your needs.
From Buyer's Brokerage agreement to closing—be sure to get the representation that you need—and that you deserve and expect—by utilizing the expertise of a highly competent buyer's broker.
Again a buyer’s broker is dedicated to protecting you the buyer, as well as assisting in negotiating the deal.
If you are looking for a reliable and dedicated buyer representative agent in the Atlanta area complete the box below and you will be referred to top agents in the Atlanta area.
If you are considering the South Metro area of Atlanta—be sure to visit our companion website to learn more about the Greater Atlanta Real Estate Market—and learn other ways that you can strengthen your buying (or selling) position!
Learn how to apply the— “Keys to Success”—in your life