Buying a house or any real estate is a big decision for first time homebuyers and even for those with some buying experience.

“What should I do first?”
The first thing a buyer should do is contact their financial institution to get pre-approved. This will tell a buyer what they can afford and how much they can loan from their financial institution. Buyers can also find out how much they will need to put down on their loan and get an estimate of what their closing costs will be. The answers to all of these questions are vital in helping a buyer determine if now is the right time to buy.

“I’m pre-approved, so now what? Do I have to call the listing Realtor® for each house I am interested in?”
Once a buyer is pre-approved, they are ready to contact a Realtor® and buy some property! Most Realtors® are members of the Multiple Listing Service or MLS. This allows us to show our own listings to buyers as well as any listing in the MLS. This makes life much easier for buyers and agents. Buyers no longer have to deal with several different agents. Buyers can select one Realtor® they are comfortable with and work one on one with that agent to find the perfect property.

“If I work with one Realtor® are they working for me or the seller?”
Realtors® can represent the buyer or the seller. If a buyer would like to be represented, they need to have a Buyer Agency Agreement with their Realtor®. A buyer should ask their Realtor® to explain what a Buyer Agency Agreement is in the beginning, so the buyer can decide if the Buyer Agency Agreement is the right choice for them or not. The sooner the buyer and the Realtor® discuss this, the better. If the buyer signs a Buyer Agency Contract, then the Realtor® represents the buyer.

“What is a Buyer Agency Agreement and why is it a good idea?”
A Buyer Agency Agreement allows the buyer to be represented by a Realtor®. Without the contract, the buyer is not represented by anyone. Both buyers and Realtors® prefer the Buyer Agency Agreement because it creates loyalty to both parties. The benefit to the Realtor® to have a Buyer Agency Agreement is the Realtor® knows the buyer will be loyal. The benefit to the buyer is the buyer does not have to contact different Realtors® every time the buyer has a question about a property or if the buyer wants to schedule a showing. The Buyer's Agent, or Realtor®, can get the answers for the buyer and schedule showings for the buyer. The buyer and the Buyer's Agent develop a relationship that is beneficial to both parties. The Buyer's Agent will know exactly what the buyer is looking for and will contact the buyer promptly with new listings that meet the buyer's criteria. During the entire buying process, the Buyer's Agent will work with the buyer to negotiate the best price, terms, and conditions for the buyer.

I would like to have Holly Bowe help me find some property!
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