In your opinion, is buying a home one of the largest investments you will ever make???
Do you know everything that goes into the process of buying a home???
Do you know your responsibilities and rights, and the seller's responsibilities and rights, when negotiating sales price, repairs, closing costs, home warranty, etc???
If you answered 'NO' to the last 2 questions, you NEED representation when buying a home!!! Really, EVERYONE needs representation when purchasing, or selling, real estate. (Unless, of course, you are, or have been a Realtor.)
Most Buyers, especially first-timers, think that it costs money out-of-pocket to have a Realtor help you with your investment. FALSE!!! In most states, the Buyer's agent is compensated at the closing for bringing the buyer. What? Free Representation? YES!!! So, why wouldn't you hire someone you trust will guide you in the right direction?
I received a call this weekend from a friend of a friend who has entered into a Contract for Sale on a house he only saw 1 time, and was shown by the listing agent. The agent told him someone else was interested in the house, so if he liked it, he better make an offer right then and there. This agent never shared with this first-time buyer that he represented the seller. The agent then told the buyer to call on specific person, at a specific bank, instead of letting him choose his own lender from a few suggestions. The agent also set up the inspections for him, as well, instead of giving him a list to choose from. LOTS OF ETHICS VIOLATIONS!! The contract is supposed to close on Monday, November 1. The appraisal is not back, so the loan package has not even been sent out to the closing agent. ANd to make matters worse, the agent, loan officer, and closing agent are not returning ANY of this buyer's calls!!! Doesn't look like the closing is taking place on Monday. Now what???
When looking for a home when you're ready to purchase, be very careful about calling the agent on the sign. They represent the Seller's best interest, and not the buyer's! The real estate industry has desperate agents, just like many other industries, in this economy. Desperate people do desperate things. Don't fall victim to a desperate agent. Don't be afraid to fire your agent if they are not representing your best interests!!! In most states, real estate representation is very similar to attorney representation. If you are not happy with your attorney, and don't feel they are representing your best interests, you fire them and find a different attorney, correct???
If you, or any of your friends are thinking of purchasing a home, BE A FRIEND!!! RECOMMEND THEY FIND A REALTOR TO HELP THEM MAKE ONE OF THE LARGEST DECISIONS OF THEIR LIFE!!!
Happy Halloween!!!
'Life is hard, it's even harder when you're stupid.'
-John Wayne
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