Whether you're a first-time home buyer or an experienced homeowner, you may be wondering if it's truly necessary to work with a real estate agent when buying a property. Here's what you need to know about working with an agent and how to go about purchasing a home without one should you choose to.
They're considered experts in the industry and can help you navigate the home buying process, which can be complicated and competitive.
They can save you time and energy by arranging open houses and searching for properties that fit your criteria, including looking in databases that you may not have access to.
They help with negotiations and deal with any concerns you may have to make sure you get the best deal for your money.
Put your mind at ease since they are handling the most tedious part of looking for a home.
Paying commission. On average, you can expect to pay your agent about 6% of the total sale price.
Multiple clients mean that their attention is divided, possibly slowing down the process.
Needing to work within their timeframes, which may not align with yours.
Still need other professionals. Real estate agents can give recommendations regarding the price of a home. However, you'll still need to hire an appraiser and perhaps an attorney to review the legality of the documentation.
If you choose to buy a home without an agent, make sure to prepare as much as possible. Including:
Prepare your home loan documentation by getting preapproved. Preapproval helps accelerate the home buying process and may even help you get ahead of other potential buyers! While you make an offer on a home without a preapproval, it can slow the process and lessens your chances of getting the home of your dreams.
Research recent home sales in your neighborhood. This helps you become more aware of the market so that you can make a reasonable offer.
Get familiar with the community. Understand crime rates, school ratings and stats, property development, and any other important factors about where you choose to live.
Build contingencies into the offer, so you have a way out of the contract if something goes wrong or it's not as it should be.
Hire a home inspector. Don't skimp on this part! Even homes that look great cosmetically can have costly issues lying beneath.
Hire a real estate attorney to review your contract and provide legal advice.
Purchase a title insurance policy should any previous owners surface and contest ownership of the property.
Request seller disclosers and prepare a list of questions to ask the seller.
Whether you choose to work with a real estate agent or go about buying your home DIY, it's important to have a trusted mortgage professional like us by your side. We can advise you on the best loan product and terms for your budget and expedite the approval. Need recommendations for a great real estate agent? We can help with that too! Contact us today for all your home buying needs.
Gus Wakat and Home Equity Mortgage have been in the mortgage business for over 20 years. With a MBA in Finance from the University of Denver, call today to get a free mortgage analysis. NMLS# 1042709
2895 South Cook Street
Denver, CO 80210
Phone: (303) 733-4949
2672 Kinnikinnick Ct B
Vail, CO 81657
Phone: (303) 733-4949
Our Website strives to ensure that its services are accessible to people with disabilities. Our Website has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Our Website makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows homemortgageme.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
Our Website accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Our Website continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Our Website website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Our Website website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: email@example.com