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Health & Fitness

Looking for a New Home? A Buyer's Agent Can Help

A look at what a buyer's agent can offer house hunters.

The time has come; you want to buy a new home. You've searched the homes section of your local newspaper and online for your next home. You have done your due diligence in researching school systems, job availability and the demographics of your potential new location, and you are ready to hit the pavement in search of your new home.  Now is the time to hire a Buyer's Agent.

Realtors have much to offer both buyers and sellers. But for the sake of this piece, let's talk about buyers. We'll address sellers in part two of this blog. For starters, Realtors have access to a wide variety of resources including the all-important MLS. The MLS, or multiple listing service, lists all properties currently for sale through all Realtors who use the system. It is a huge database full of all of the pertinent information on homes currently on the market, recent sales and homes that are under agreement. Realtors also have a terrific understanding of neighborhoods, schools and the home buying process. Many of them live in the communities they work in, so they can offer personal anecdotes and stories from an insider's perspective.

Realtors can help you to answer questions like how much should I offer for a home? Should I lease? Pay cash? How do I get a mortgage? Where should I buy? What school system is best?

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It is important to remember that the entire house hunt could take months depending on what you desire. It is likely that you will go back and forth several times in negotiations with the seller. A good realtor is an expert at negotiating, and can keep things calm.

Some things to consider when deciding how much to offer include the sale price of comparable homes, the condition of the home you are considering, the market, and your ceiling.

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The market is either a seller's or a buyer's market. It is important you know which prior to making an offer. Your buyer's agent should be very knowledgeable on local market conditions.

Your ceiling is only applicable if you have a credit pre-approval. You may not be comfortable spending all you were pre-approved for so think carefully about your financial situation before making an offer

As a buyer, a knowledgeable Realtor will meet with you to understand your criteria. A Buyer's Agent will know the market well, and can help you identify homes in your price range.

A Buyers' Agent is great to have in your corner as you venture forth on your house hunt whether it is for your starter house or your second home on the beach.

 

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