The process of buying a first home can often be intimidating with all the financial paper work, home disclosures, inspections and escrow. It’s almost like understanding a different language for someone who has only rented. The Californian Estates resource guide will help a new buyer navigate through some of the basic steps to getting you into your first home. However this informative outline doesn’t replace the wisdom and experience of a qualified real estate professional, so whatever you do, don’t break the first golden rule:
You Must Have a Great Buyer’s Agent Who Will Be Your Advocate
Many first time homebuyers think that they can search homes, negotiate terms, pricing and contracts by depending on the guidance of the Listing Agent (also called the Seller’s Agent). However, the Listing Agent has a fiduciary duty to his or her client and is contractually bound to get his or her client the highest price and best terms. Where does that leave the buyer?
In other words, if you were being sued would you ask the lawyer for the prosecuting party to represent you? Of course not. Get an advocate on your side. The best part about it, the seller pays the commission for the buyers agent, so it costs you nothing to have the agent’s expertise and guidance working for you.
The educational value of a great (not just good) real estate agent is indispensable. Your Buyer’s Agent will provide you with the best localized information, including inventory and market trends. Choose an agent who excels at communication and is committed to prompt follow through. Especially for a First Time Homebuyer, there is a lot of education involved in your choice and purchase of a home. Your agent will help you evaluate the lending terms, negotiate pricing, prepare for every step of the escrow process and help you smoothly conclude the closing process so you are quickly in your new home.
Access to information is key. Your agent will have access to the most updated information through the MLS (Multiple Listing Service), much of which is not available to the unlicensed public. Browsing sites like Trulia, Redfin, and Zillow are wonderful resources to start understanding what’s on the market. However, these sites aren’t always up to date and they won’t provide the kind of information that your agent has access too. This power of information will help you make the best choices.
Going into a home sale without being represented is like being a third wheel because you know you’re missing important timely information. Put yourself in a position of control and find a great Buyers Agent to represent you. Connect with a Californian Estates agent who will be happy to promptly answer all of your questions and get you prepared for the exciting journey of getting you into your new home.
Californian Estates has produced this free, informative Buyer’s Guide to outline tips and potential pitfalls to your first purchase. Find out how to find a loan and how to put yourself in a position to receive the best possible terms. Learn how to strategize your home investment to make maximum money. The Buyer’s Guide will help you discern overlooked items that are critical to consider when choosing your new home and neighborhood. Finally, the closing process and closing costs are explained so that you can successfully get the deal done with ease so you can get on to the most important part of your purchase–enjoying your home.