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Are you completely informed an up-to-date on the legal aspects of buying a home?

 

Are you fully confident that the seller is using all of the necessary (and correct) forms?

 

Are you receiving the proper disclosures?

Many on-line realtors may not be able to offer you the expertise that is needed to complete a sale legally and to your satisfaction.

Do you feel confident handling the legal contracts, especially knowing that any errors or omissions in these contracts can result in legal problems and the loss of your earnest money?

If you are not 100% confident, it’s wise to hire a professional real estate agent.

As you have probably discovered, there is a mountain of questions and paperwork to navigate when purchasing real estate. The Federal National Mortgage Association, better known as Fannie Mae, recommends hiring a real estate agent when you first start house hunting. After the excitement of attending open houses and browsing house ads online fades, you'll have a professional available to answer questions about improving your credit report and securing financing. You will want to have an agent represent you on your purchase. A “buyer agent” that you hire will have your best interest in mind and help you in evaluating the value of the property being sold and negotiating the best possible price and terms in making your offer. Additionally, your agent can not only help you with the many facets of the transaction process, but also connect you with a reputable lender as well as an inspector and other service people. And, of course, a good agent will help make the escrow process as smooth and stress-free as possible. (Best of all, the legal documents you will be asked to sign at the closing will have been prepared by an expert that you have come to know and trust.)

 

Once you have chosen a realtor to be your Buyers Agent, the person selling their home (the home owner) pays 1/2 of the commission to their selling agent and the other half goes to the Buyers Agent.

 

 

A Buyer never pays the fees. Only the Seller pays commission fees.

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To get a Complete List of Available Properties in your area, 

 

So there is no great reason not to use an agent to help you find a home and negotiate the best purchase terms on your behalf.

Let's look at some of the top benefits of using an agent to buy a home.

 

1 - Pricing expertise

2 - Finding available homes

3 - Buying can take more time than expected

4 - Learning about a new community can be daunting

5 - Choosing the right home

6 - Requesting repairs

7 - Finding the home’s history

8 - Hidden expenses may linger

9 - Tackling the paperwork

10 - Avoiding closing problems

 

Pricing expertise

While anyone can spend a few minutes online and pull information on sales of comparable houses, an experienced real estate agent will know immediately whether a specific house is overpriced or underpriced…In the best-case scenario, an agent will have such a good idea of what you're looking for that she won't even waste your time touring houses that won't work for you. Not only can agents provide all the data on local home sales that you want to see, but they can also bring assets to the deal that come from the experience of watching current transactions in the neighborhood as well as offer a historical analysis.

Finding available homes

In some cases, sellers don't want the fact that they're selling to be widely publicized. Maybe it's a more for personal reason, that they don't want their neighbors or friends to know that their house is for sale. Sometimes health problems, financial problems or divorce factor into the need for privacy. Sometimes people don't want the sale advertised during the holidays. In any case, working with a real estate agent gives you access to homes you might otherwise miss seeing.

Buying can take more time than expected

Buying a house isn't a weekend project. From researching the projected cost of utilities to local zoning restrictions (Is it legal to run your home-based business from the new dwelling?), you're going to invest countless hours in research before making an offer.  As a buyer, you will invest a much greater amount of time, and incur a much greater cost in doing your research than you originally envisioned. Your agent won’t be limited to working on your behalf in their free time; working on your behalf is their job.

Learning about a new community can be daunting

If you're buying a home without a realtor in a new city or state, it's tough to know the ins and outs of your potential new area. An agent working in that community on a daily basis can be a wealth of information.

Choosing the right home

If a buyer is looking for a house with a space that could be used as an office, an attached mother-in-law unit or a room dedicated to exercise, a human agent is more likely to find a match than a real estate Web site. Say you want a swimming pool. (Or a swimming pool of specific dimensions.) Or maybe you want a fenced-in yard for the dog or a basement playroom for the kids. If you're looking for something specific, a real estate agent is the person whose job it is to know if there's a house out there to fit your needs, and he or she will hold your hand through the deal to boot. An agent will provide much more in depth findings than a simple click on a “filter” button will.

Requesting repairs

Often, the touchiest part of a real estate purchase involves the delicate dance of requesting repairs. A real estate agent will be able to identify trouble that you may not see, as well as recommend a qualified independent home inspector who will provide a detailed report on problems with the house. These reports can be dozens of pages long. Within all those pages, some problems are important and others aren't. If the house is in reasonably good condition, requests for repairs can make or break a deal. The agent will have a good sense of what's reasonable to request and what's excessive. When you're fighting with a seller over adding a hose to the dishwasher because the water drains on the floor, it's easy to lose your cool. Having an agent to write the requests objectively and forward them to the seller saves you the trouble of having emotions get between you and your dream house.

Finding the home history

The home’s history can be a mystery. There's a reason people get certified to take care of home buying negotiations and transactions for the public. One factor that comes into play when buying a home without a realtor (which we've seen time and time again) is the fact that the buyer does not know the history of the property. Knowing that a property was associated with nefarious activity may make it less desirable for a buyer. If it's a private sale, there's an even greater chance this fact would not be disclosed.

Hidden expenses may linger

The benefits of using a seasoned agent span well beyond the negotiations process. These agents often know the pros and cons of various neighborhoods and areas that may become more costly for a buyer in the long run regarding insurance costs and maintenance issues.

 

If you want to buy a charming little house near a business district and convert some space to commercial use, you need to know if the city will allow it. Typically, an experienced real estate agent is familiar enough with local zoning ordinances to make sure you are aware of the cost (and the paperwork) required to achieve your entrepreneurial goal.                                                        

 

By the same token, if you want to build a fence in the backyard or add a bedroom, an agent should be able to make sure you're buying a property where the city allows it. Some cities may also require expensive upgrades on older properties when they sell.

Tackling the paperwork

If you've ever bought a house, you've probably dedicated a full shelf somewhere to the documents that were involved in the transaction. These probably include the written offer, the written and signed counteroffer, the little details (like specific repairs) and what exactly was and was not included in the sale. The paperwork can be tiresome and voluminous.     This is when a good real estate agent can save the day.

 

While you may (and should) keep files yourself, you can count on your agent to keep that information organized and safeguarded should there be a need to re-visit the negotiations some time in the distant future. You'll also be able to contact your agent at any time in the coming years should you have questions about the property yourself.

Avoiding closing problems

When a sale nears closing, all kind of pitfalls can kill the deal in the final hours. A real estate agent knows to watch for trouble signs before it's too late. For example, the title of the house may not be clear -- some long-lost relative might be listed on the title that hasn't signed off on the sale. Or maybe the lender is causing a problem by not meeting the timeline on financing. When you're getting close to the closing, you want to make sure there aren't any unexpected title issues, that the financing has come through and that all of the professionals involved are staying on task and on timeline. Real estate agents are used to dealing with these types of issues and can work through almost any challenge that may arise.

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