It is that time of year when purchasing a home starts to pique people’s interest. It is important to understand that although you can navigate the home buying process on your own it is much simpler when a qualified real estate is in your corner helping you along the way.
Benefits of Hiring a Realtor When Buying a New Home
- Comprehend Home Financing: Experienced realtors offer comprehensive knowledge in home financing. They have been through the closing process on buying homes and are familiar with a variety of scenarios that can come up throughout the process. They can offer suggestions on mortgage brokers help with the preapproval process and offer guidance when it comes to choosing between several mortgage options. They offer an outside opinion on the information you are receiving from the broker and lenders.
- Identify The Most Recent Listings: Another major benefit that comes from working with a real estate agent is that they have market connections. This allows them the inside scoop on new listings, some even before they become available on the market. This offers a unique opportunity to you as a buyer to have the first peak at homes. Buyers have often been able to put an offer on a home and have it accepted without a seller having to go through the hassle of open houses and daily showings. This can also make it easier to get a good deal on a home without ever having to enter into a biddig war with another buyer.
Types of Real Estate Agents
- Buyer’s Agents: This is an agent that is representing the best interest of the buyer within a real estate transaction. They are often compensated through commission which comes after the transaction closes. The seller’s broker often splits the commission with the buyer’s agent. Before signing a contract with a realtor it is important to understand who is paying the commission, how much they are being compensated and when this fee is expected.
- Sellers Agents: You may have guessed that this type of agent represents the best interest in the seller. This person is the listing agent on a home and is responsible for marketing to buyers in order to secure the best price and terms possible on the sale of the home.
- Dual Agents: A dual agent is uncommon but does occur within real estate transactions. A dual agent represents both the buyer and seller. Dual agents are not always a good idea as they have a conflicting interest to both parties involved in the process. Laws are incredibly strict with what a dual agent can do. It may not be in your best interest to use this type of agent especially when buying our first home. Perhaps when you are more familiar in real estate transactions a dual agency can save you money on commission.
Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.