Buying and selling Real Estate is a complicated process, and it’s not uncommon for buyers and sellers to get confused. With so many people involved in the process, and with your largest asset on the line, it’s important to know whom you can trust, whom you can work with, and whom you need to be skeptical of.
First and foremost, you need to trust your REALTOR. If you don’t or if you can’t, you need to make a change. Your agent has a fiduciary responsibility to fight for your best interests at every turn. At We Find Agents we’ll take care of finding you a number of highly qualified REALTORS, but you need to choose the one that you connect with and feel you can trust on a personal level. Once you’ve chosen your agent, trust them to do their job and place your faith in their advice.
Next, you need to trust your Loan Officer. All Loan Officers have access to the same rates, so you need to find an experienced Loan Officer with outstanding ethics. Once you’ve selected your Loan Officer, listen to their advice and use your best judgment to make your financing decisions.
Remember that your REALTOR and your loan officer don’t get paid until you close. Unless you have serious cause, changing agents or Loan Officers after they’ve already put in time and money on your behalf is unethical and should be avoided.
There are a number of service providers along the way that you’re going to need to work with to complete the sale. These people are Title Officers, Escrow Officers, Inspectors, Insurance Agents, etc. These people provide information and perform specific tasks during the Escrow process, but they don’t have a fiduciary responsibility to you. While they can’t give you advice, you can trust them not to deceive you. Work with these individuals, digest the information they provide, and with the help of your agent come to your own conclusions.
Finally, take everything the other party says with a grain of salt. The other agent in the transaction has the same fiduciary responsibility to his client as yours does to you. Also, whether you’re buying or selling, the other party is trying to get the best possible price and may be conflicted when providing you with information. While you shouldn’t expect them to intentionally deceive you, it’s never a good idea to rely solely on the information they provide. Always do your own research and come to your own conclusions.
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