Buying your first home can be overwhelming for a lot of people.  You are entering unfamiliar territory.  After years of renting, and paying someone else’s mortgage, you are now ready to start paying your own mortgage.  But where do you begin?

The important first step is to go through the pre-approval process.  Choosing a lender can be a difficult choice.  You want to work with one that you can count on to help you through the process from start to finish, and to always be there for you when you have questions or concerns.  If there is an issue that is preventing you from being pre-approved, you want a lender who can advise you on the steps to take to get beyond the issue.  It is always good to get a recommendation from someone who has seen the work of the lender that you will end up working with.  You can ask a friend who has already closed a loan with the help of a lender, who had a good experience.  That might work out just fine.  But a better place, in my opinion, would be to come to a Realtor for that recommendation.  Why is that?  It is because while your friend can make a recommendation based on a closed loan, a Realtor can make that recommendation based on dozens of closed loans.

Making the choice of which Fort Wayne or New Haven Indiana Realtor to work with is also a big decision.  You want to choose someone, first and foremost, that you can trust, because this home purchase will, more than likely, be your largest purchase to date.  It is important to choose someone who is available to you.  You don’t want to work with someone who you can’t get ahold of, or that isn’t prompt when it comes to getting back to you.  Choosing someone with experience and knowledge is also very important.  You want to work with someone who has most of the answers for you, and has the resources to get the answers for you that they don’t already know.  It is also a good idea to choose a Realtor who you can mesh with, personality-wise.  You have to understand that you will be spending a lot of time with this person, often over a couple months or more, until this process is completed, and personality conflicts can lead to an unpleasant experience for all involved.

Something else important that I want to point out is that you, in general, are not paying anything out of your own pocket to work with a Realtor as your Buyer’s Agent.  In most cases, the Buyer’s Agent is being paid by the Seller, but indirectly.  Let me explain this.  When a Seller hires a Listing Agent to list their house for sale, they agree to pay the Listing Agent X% of the sales price for their services of getting their home sold.  If the Listing Agent belongs to a Multiple Listing Service(MLS), they offer a specified amount to any Buyer’s Agent who brings them an accepted offer on the property, provided it sells and closes.  For example, it is often 1/2X%.

I also want to point out something else that is a common misconception regarding Buyer’s Agents.  Some people say that they don’t need a Buyer’s Agent, and that they’ll just buy a home through the Listing Agent, thinking they will get a better deal.  That couldn’t be further from the truth!  The truth is that the seller is already paying the Listing Agent X%, whether the Listing Agent has to pay anything to a Buyer’s Agent or not.  Also understand that Listing Agent represents the best interests of the seller, not yours.  Which means that, often, not only will you not get a better deal, but that you will often get a worse deal.  Having your own representation is very important.

The Buyer’s Agent that you hire is a very valuable resource to you.  Finding homes that meet your criteria, and helping you have access to them is only the beginning. They help you by using their negotiating skills to help you arrive at an acceptable price, as well as acceptable terms to you.  Part of the work of a good buyer’s agent is to help you in the selection of a good home inspector.  Most of us are able to do this based on seeing the work of quite a few inspectors through the years.  Another aspect of what I do as a buyers agent involves coordinating the transaction, and making sure that everyone is getting their part done, in order to see that the transaction closes on time.  This involves working with the Listing Agent, Title Company, Lender, and anyone else involved that is necessary to see that your home buying experience goes as smoothly as possible.

If you have any questions on anything related to Fort Wayne or New Haven, Indiana real estate, or have the need for buyer representation in the Greater Fort Wayne Area, feel free to give me a call or send me an email.  It will be a no pressure conversation.  I look forward to the privilege of helping you with your real estate needs!

Darren Schortgen, Broker-Owner/REALTOR    
Advanced Realty of Fort Wayne
(260)385-7603
Darren@DarrenSchortgen.com
www.DarrenSchortgen.com