Home Buyers' Fearbusters

HOW TO FIND A GREAT BUYER'S AGENT 

Home Buyers' Fearbusters  Though buying a house can be stressful, your biggest fears can be calmed with a little homework and information.

Fear: Help! Everyone has advice for me. I'm going to be overwhelmed by all the things I need to know — I'll never get a house!

Fearbuster: Take a deep breath. Remember that other people have been through this, they survived and are now living happily in their new home. Talk to family members and friends who have purchased homes.  Do they have suggestions that might be helpful?  Pay no attention to those who relate harrowing negative experiences because they are the exception not the rule.  Your experience will be uniquely yours and it can be a satisfying and successful experience if you remember two things:  (1) informed consumers make wiser decisions than uninformed consumers and (2) the services of a professional real estate agent are absolutely essential.  A good agent will guide, direct, suggest, explain, inform, advise, protect your rights and advance your interests.  His/her job is to arm you with the resources you need to become an educated consumer and a sage decision maker because, in the end, you are the person who will make the final decisions. There are no fees for all of the services that a Buyer's Representative offers.  Sit down with an agent of your choice and discuss your concerns, expectations, fears, hopes and dreams.  You'd be surprised at how easy the process of buying a home can be with the right agent on your side.

Fear: The neighborhood’s cool, the homes are well-maintained, and I’ve found several I like. But the housing market means prices are just beyond my budget! Will I ever find a place to call my own?

Fearbuster: Broaden your search. If housing prices in that hip Postal Code are too hot to handle, consider looking in nearby neighborhoods. They’re often overlooked, underpriced, and poised to benefit from the reflective glow. Also, make sure to check with a realtor. They know if homes you like may be overpriced or about how much you may be able to negotiate to get that price down closer to your level.

Fear: The perfect home is always sold the week before I started looking!

Fearbuster: Sit down with your real estate agent and review your description of what you’re looking for in light of the kinds of homes you’ve seen so far. Were there homes you initially ruled out that might be worth a second look? For example, could you do without a separate family room if that brought the price of a home within your range? And keep looking. The perfect home may be just around the corner.

Fear: I'm looking for an agent I, how do I select the best one who will get me the best deal? 

Fearbuster: You want to do some homework when picking an agent. It’s especially important to have a list of questions to ask. Don't be shy about asking questions and you'll be fine. Inspect what you expect. Many agents will tout that they have great internet marketing....check to see they do. An agent web site will tell you a lot.

Fear: What if the seller turns us down flat?

Fearbuster: Barring an insane seller’s market, if you and your agent have presented a reasonable offer, backed by strong CMA numbers, the seller should be willing at least to make a counteroffer. If not, there’s nothing you can do except resume shopping — and be glad you won’t be dealing with someone who likely would’ve given you weeks of misery and then probably quashed the deal anyway. The good news is: Your new home must actually still be out there.

Fear: I want the house, but I'm afraid I'll have to give up too much to get it!
Fearbuster: Figure out what is really important to you about the house; that becomes your baseline negotiating point. Concentrate on that, and you will find you can probably live without some of the other contingencies.

Fear: I hate, I mean hate, confrontation. I'm worried that the seller will hate me if I negotiate.

Fearbuster: Another way to think of it is if you have a realtor, any confrontation will be directed at your realtor who is skilled in the art of negotiation and will have a good idea of what to ask for and what kind of contingencies might be needed in the offer.

Fear: Yikes, now I have a $250,000 mortgage. What if I lose my job, they foreclose on my house, and my life is ruined!
Fearbuster:  Putting money aside for a rainy day is easier said than done — particularly when you have just made the biggest investment of your life. Begin to squirrel away emergency funds and even open a line of credit, if you qualify, so you’ll have funds to get you through a rough patch.

Fear: What happens if the seller accepts my offer but my financing falls through or I lose my job?

Fearbuster: The contract should contain contingency clauses (financing condition and home inspection) designed to make it possible for you to pull out of the deal and get your initial deposit money refunded. A standard contingency is that your loan must be approved.

Fear: Something unexpected will mess up the closing and I’ll be back to square one.

Fearbuster: It’s true that closing is the last — and a very important — step. There are lots of deadlines during closing and the anxiety you feel is normal. Your realtor should be your guide including the walk through at the day of closing. It’s all about staying involved at each step of the way; that makes the closing glitch-less. 

Fear: I may be buying into a declining market, in which case my hard earned downpayment could be quickly wiped out.

Fearbuster: Do your homework, find a real estate agent that knows the area you are looking in and has been in the business for a few years. Good agents will usually know how the market trends have been in their area, and have attended many educational courses giving them a strong outlook on the real estate market. In addition, a good agent should be able to answer your questions or concerns. If they are unable to answer your questions, keep lookng until you find an agent you are comfortable with.  

Fear: I don't know who to call or where to start, and I don't have access to the information I would need to check the agent's sale history.

Fearbuster: Contact us, we will provide you with all the resources and tools you need to make an informed decision. We will assign a consultant/mentor to assist you with the screening and selection of a Great Agent.

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