With interest rates at record lows and rental rates climbing many people are discovering that now is a fantastic time to purchase instead of rent a home. If you read my previous post, I went into the why buy vs. rent scenario in greater detail. You can read about that by clicking here.
So you’ve found a helpful lender that you are comfortable and confident working with. What are the next steps in moving forward with your home purchase?
You’ll want to sit down and go over your budget. You’ve been pre-approved but you’ll want to make sure that you have a clearly mapped out financial plan so that you are truly shopping for homes within your budget.
• Hire a REALTOR®. Hiring a REALTOR® doesn’t cost you anything but it can save you money, time and is the best way to navigate all of the ins and out of the current turbulent housing market. It can also prevent some unfortunate mistakes that those who aren’t in the business may not see coming. There is a lot of behind the scenes work that goes into finding the right home, putting in an acceptable offer and getting the deal successfully closed. A good REALTOR® will help you through each step and make sure that the other side is doing their part as well.
• Sign a buyer’s agency agreement. I understand that these days we are taught to be cautious about signing things. I completely agree that you shouldn’t sign anything that you don’t clearly understand. However, when it comes to a huge financial purchase such as buying a home, you need representation; someone to look after your best interest. The buyer’s agency agreement is a free powerful tool that protects you as well as the agent. It allows the agent to give you full representation and all that entails. Sellers will be looking out for their best interest as anyone would. Therefore you need the full backing of someone who is looking out for YOUR interests.
These are just a few of the things that occur after you hire an agent and get full representation. There are many details that go into buying a house and while it may seem daunting it doesn’t have to be with the right person in your corner. For a skilled REALTOR®, taking care of the details, following up with the various parties involved to keep things running smoothly is what we do daily and therefore we can guide you as seamlessly as possible to closing.
I hope this information has been helpful to you. My next post will go on to the next steps as you continue your home search. If you have any questions please call me or send me an email. I’d love to hear from you!
Cell: 334-332-7698 Email: firstname.lastname@example.org
Thank you for visiting my blog and I hope you’ll visit often!
—Meg Fullington, REALTOR®