Who Represents Your Interests in Buying a Home? Carmel Homes

Once you decide to buy a home, you will want to find trustworthy professionals who can walk you through the home-buying process. From your initial search to closing, you will use several real estate professionals, including agents, lenders, appraisers and inspectors. Before you begin to navigate the real estate market, consider the following questions:

Do I see a Realtor or a Lender first?

Both a Realtor and mortgage lender should be consulted before you begin your home search. Realtors aid you in the home search and mortgage lenders help you determine how much home you can afford. Seeing a lender first can give you a concrete idea of your price range and whether you could even qualify for a home mortgage, both important to know before you start a search. If you see a Realtor first, they could recommend quality lenders who they trust and with whom they have had good experiences.

Do I need a Realtor to represent me?

From a Buyer’s perspective, Realtors can help you navigate your area’s real estate market. Especially for first-time Buyers, Realtors offer endless resources and assets that can help you in your search for a home. During the home search, Realtors know the areas where they work and can answer questions about schools, community and demographics of the areas where you are looking. When it comes time to make an offer, Realtors help you negotiate the deal and walk you through the appraisal, inspection and closing.

How do I choose a Realtor or Lender?

Ask friends and family for references. If you are new to an area, use the National Association of Realtors website (realtor.com) to search for a licensed Realtor in your area. Do a Google or Yahoo search for Realtors and lenders in your area and look for Realtors and lenders with informative websites.

What happens at the initial consultation with a Realtor or Lender?

When you first meet with a Realtor, they will ask you what you are looking for in a home. They will want to know what areas you want to look in, how many bedrooms and bathrooms you need and what price range you can afford, among other things. Your Realtor will probably ask about your family, job and interests to get a better idea of what communities and neighborhoods fit your personality and background. At your first meeting with a lender, they will need your job history, current pay stubs, tax information and information on any other long-term debts. They will get an idea of all your monthly expenditures to help determine what you can afford in monthly payments and subsequently what price of home you can afford.

Referral to a Realtor or Lender

A Realtor or lender’s best method of advertising is word-of-mouth. If you had a good experience with a Realtor or lender tell your friends and family…your Realtor or lender will surely appreciate the business!

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