Why Use a Realtor to Buy a House?

Why People Use Realtors (Well, Some of the Reasons)

 

Contracts

The contracts are created to protect you and to make sure that you can safely collapse  the offer if some conditions are not met. For instance, if you want to buy a house and need to finance the purchase, the Realtor will ensure that there is a financing condition included in the offer, for your protection.  Then should the bank decline your financing application, you can collapse the offer with no penalty and have the initial (good faith) deposit returned.  Without this condition, you are purchasing this house. So if you don’t have the financing, you are in Breach of Contract and face the possibility of legal action. You would also forfeit the Initial Deposit. Realtors will guide you throughout the process. They know how to deal with different conditions and contracts. They know how to structure the contract for your protection.

[Read more…]

How to Lower Home Buying Stress

So it is time to buy a new home. Exciting ! Maybe it is your first home purchase, or possibly a change to a larger ( or smaller ) home. After watching and helping numerous people move, I have come to realize that buying a home can be a very stressful experience.

To lessen the stress, let’s start at the beginning. Don’t even look at homes until you know what price range that you qualify for. Talking to your bank or mortgage broker first to get prequalified does two things. One, it establishes a budget for your potential purchase, and two, it gives you more credibility when you enter the negotiating process.

I have seen buyers who fall in love with the perfect home before getting pre approved, only to have the bank say no, and it can be very discouraging. Just a side note here, when the bank gives you a maximun number, that does not mean you have to spend the whole amount. It is sometimes best to be a bit conservative so that your dollars are not stretched too thin when Murphy’s Law unexpectedly kicks in and you have have to change the hot water tank, or furnace or…. [Read more…]