Plan on buying a home your self? What are you really saving and what pit falls might you fall into?
- Locating your Home
- Researching the best price
- Market conditions
- Terms and Conditions
- Contract Offer
As a homebuyer, it is in your best interest to actually start with a real estate agent. This is due in part because of the lack of public information on homes for sale.
Locating your home
You have to utilize the Internet or new papers or drive around. You end up with less to choose from. (More choices mean more options and ultimately a better match on your home.) You can locate your home this way but typically you loose time and effort.
As your buyers agent I will use all of the information that I have available, to quickly locate the homes that match your requirement. As a Licensed Real Estate agent I have access to MLS information and are made aware of more properties than appear to the general public. Because of this I can react much more quickly than you can and have complete access to all property for sale.
For Sale By Owner
When you approach a home that is for sale by the owner, you can typically get the price of the home down by a few percent. This difference is normally the seller’s commission to real estate agents. This can add up and be a good savings.
However, while you feel that you are saving money, you are actually normally paying more than you would if an agent represented you. This is in part because neither the Seller nor you the buyer have accurate methods for researching price based upon property options and conditions. Research is the key and without accurate information you are not making an informed purchase decision.
Researching the Best Price
As a member of the general public you have to keep track of newspaper sold articles and go to the county records to research properties that have sold. This is very time intensive and ultimately is not very effective. So, you do not have an effective way to determine if the price that you offer is a fair price.
As your buyer’s agent, I have data access to sold and current properties for sales. I also stay up to date with current market conditions and trends. I can quickly and easily determine a fair price for any home you are looking at and judge this based upon the properties condition, walk thru, and other factors. And best of all, I am working on your behalf. Most likely you will be going up against a professional seller’s agent.
You can signup for various trade magazine and track market conditions and trends, but the general public does not have access to the same information that Professional Licensed Realtor Real Estate agents have available. More importantly, because I am a Professional, it is my full time job to keep up to date and track the current market.
Law is tricky, and as it turns out, liability can shift to either the buyer or seller when things get messy. So unless you are insured for the specific types of liability issues that can arise, you may be on the hook for a costly settlement.
As a Real Estate Processional, I have to as part of doing my business, maintain liability insurance and errors and omission insurance. This protects you the buyer along with me your buyer’s agent.
Also, because you are unaware of all of the requirements in contracts, law get even trickier. If you are dealing with a contract where there is a selling agent, they may get you to agree to various terms that may not be in your best interest. Remember, a selling agent represents the seller’s interest and is trying to get the best deal for them, not you.
Contract Offer – an unfair advantage
You will have to write a contract your self, and present this contract with out representation. Getting all of the terms and conditions you should have can be costly if mistakes are made. Typically, you will be putting a contract in front of a Seasoned Professional Real Estate agent, the seller’s agent. They can help you with filling out the contract, but they represent the seller, and are trying to get the best terms, conditions and price; for the seller – not you. So, if you miss out on something, it is too bad, it is a done deal.
As a Buyers agent, I put your requirements above all else, and are dedicated to making the offer as good as it can be for you the buyer. And best of all, you will end up saving you time and money.
BOTTOM LINE – You will get a better purchase price and terms by purchasing your home through my services.