Buying a home without a Realtor can cost you Big $
With the internet at your fingertips and tons of real estate advice, you may feel you can do some research and be prepared to take on buying your next home without the representation of a Realtor.
Please, please do youself a favor and DO NOT do this!
Here are a few reasons that you should not take on this task on your own and why you absolutely need a Realtor.
1. First of all, as a buyer, you don;t pay your Realtor a commission in the majority of instances...the seller of real estate pays both the listing agent and the selling broker a predetermined commission on the sale of their home.
2. Going directly to a listing agent won't save you money...in fact, it may very well cost you a substantial amount, once you realize or figure out what just happened. A listing agent can only truly represent the seller...it is the fiduciary responsibility to do so...that is to work for the seller and on the sellers behalf and in their best interest. Going directly to a listing agent leaves you without representation!
3. Realtors pay an incredible amount of their time and energy towards being on top of the market, data, trends, and the best are familiar with specific neighborhoods and potential faults with homes within the neighborhoods...say for example, homes by a specific builder in the neighborhood you want to live in buyt no very little about it's history may have known defects in the foundations, problems with pests, plumbing issues...you don't want to go there alone. Let the local pro represent you, be your go between, negotiate on your behalf and assist you by serving your real estate needs with the knowledge and expertise they have gained over the time in the business...you are even better off with a newby Realtor than by yourself...at least most newby Realtors still have a network of old pros they can get information, feedback and direction from.
4. So you think "I am buying new construction, so I don't need a Realtor". Ooppps, wrong there...did you know that the agents for the builders are not Realtors and are not help the the National Association of Realtors Code of Ethics? The builders agents work exclusively for the builder and so even though you are looking at new homes, they cannot even talk to you about the home that is less than 1 year new and the owners are selling because they are relocating to another state with the husbands job...that's right, they won't and can't tell you that potentially the same house you are looking at buying and waiting 4-7 months to build can be bought right now with all of the upgradesm landscaping, window treatments, etc already completed by the currewnt owners.
5. Its what you don't know that will cost you thousands when you try and buy a home without the professional leading of an experienced Realtor...and the worst part is you may not find this put until it's too late!
Consult with a local professional Realtor and get the representation you need and deserve when making the largest financial decision of your life...they will make it look easy and like something you could do on your own, but so does the dentist and you wouldn't pull your own teeth now would you?
Buying your home should be fun, exciting and without hassle...a Realtor will help you do this and make it appear easy, but it is what you don't see them do that is where they earnt he money. For example, finding and negotiating the home is just the start of the process...then you go into your inspection period and have your opportunity to complete due diligence...a good Realtor will recommend a reputable insopector that is a professional, licensed, bonded and insured to handle the inspection and deliver a comrehensice report on the findings...once that is completed, there will always be something that shows up and should be repaired or your Realtor will be able to negotiate a dollar figure in lieu of repairs at very least.
Your Realtor will recommend a great local mortgage lender that can help in getting the you the right loan to fit your needs, a reputable home warranty company that can offer a warranty to cover unforseen problems that may arise over the course of your ownership that can deflect potentialls costly repairs/repalcement and a great title and escrow company to facilitate a smooth closing...on time of course. They say it takes a village to raise a child and I beleive it takes a team to serve your buying needs...work with a Realtor who can set you up for a successful transaction and has the team in place to make it all appear easy...and it won't cost you to have the Realtor represent you!
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