Purchasing a home is one of the most exciting moments in anyone's life. Not only is homeownership a right of passage, but purchasing a home is also a major investment. As such, it is essential to do everything possible to ensure the process goes smoothly. While a lot of the photos online make the home look fantastic... there are other features that can make the home unappealing like location, proper zoning, restrictive covenants, school ratings, foreclosure comps, taxes and insurance.
One step homebuyers can take to ensure the home buying experience is a good one is to enlist in the services of a Buyer's Agent. A "Buyer's Agent" will have access to information that you will not. This access will make your decisions more informative and you will have less surprises after you move in. While there are numerous advantages to working with a Buyer's Agent, here is a look at the Top 5.
Save Precious Time!
One benefit to working with a Buyer's Agent is that it can help you save a significant amount of time in your home search. Let's face it, searching for the perfect home is a time consuming process. With the help of an experienced Buyer's Agent, however, you can more effectively narrow down your choices so that you only spend time looking at those homes that genuinely meet your needs and budget. Nothing can be more frustrating than to find your perfect home and then find out it is under contract or already has multiple offers. A Buyer's Agent can also narrow down your favorites and then give you "the skinny" on each home... making it easier to only view the homes for sale that really meet your needs, not just look like they do online.
Have Someone in Your Corner!
Another benefit to working with a Buyer's Agent is that it gives you someone who is working on your behalf. When it comes to buying a home, working with only the Seller's Agent puts you at a distinct disadvantage. This is because the Seller's Agent is obligated to represent the best interest of the person who is selling the home. A Buyer's Agent, on the other hand is bound to represent the best interest of the person who is doing the buying. When it comes to negotiations, having someone who is in your corner can make all the difference in the final outcome. A Buyer's Agent has access to the listing's history to see what price changes have happened, how many days it has been on the market, if it has been listed and expired before, and access to the Seller's Property Condition Disclosure which discloses all information the seller knows about since they have owned the property.
Get an Extra Set of Eyes!
Purchasing a home is an emotional experience. At times, it can be difficult to separate those emotions from reality. A Buyer's Agent acts like an impartial set of eyes that can look more critically at the options in order to provide meaningful and helpful feedback. By acting as an extra set of eyes, the Buyer's Agent can also make certain the paperwork is properly completed in accordance with what was agreed upon. Comparing properties can be tough, but your Buyer's Agent will see them for what they are... an investment that you may need to resell later. A good Buyer's Agent will know they may get the call to help you sell and they don't want to look stupid later by trying to justify their recommendations when you purchased your home.
Even with the help of a Buyer's Agent, buying a home can be a stressful experience. From looking at numerous homes, to securing the necessary financing, to negotiating a deal, it is not unusual for you to feel overwhelmed by the process. With the help of an experienced Buyer's Agent, however, stress can be reduced by handing many of the headaches over to the agent. Furthermore, by working with a Buyer's Agent, homebuyers have someone available at all times to answer any questions that they might have. Knowing where to get the best mortgage, insurance quotes, closing attorney, and home inspector are just some of the things that an experienced Buyer's Agent can help reduce stress as you get closer to closing.
While it may be counterintuitive, getting your own Buyer's Agent actually helps most buyers save money. With the help of the negotiating skills that a Buyer's Agent brings to the table, most buyers are able to pay a lower price and/or have more items included in the purchase price. From having the appliances stay in the home to having certain repairs made before the purchase is finalized, you can potentially save thousands of dollars with the help of skilled Buyer's Agent. Remember, price isn't the only thing that matters. Actually, lowering your offer price too low can insult the Seller to the point where they won't negotiate. The reason for this is they feel that you don't see the value they see in their home and don't feel comfortable selling it to you. A better strategy can be to gain better terms instead of price. Getting terms like having the Seller pay your closing costs, insurance, taxes and depending upon your mortgage lender, a portion of your down payment.