The Buying Process
So you're out visiting open houses.
What happens next?
Buying real estate can be a fun, smooth process, or can be filled with mystery. Let me help with that process. From here, your home search can be as simple as 1-2-3!
Step 1. Learn about Buyer Agency.
In the Washington, DC metropolitan area, we have Buyer Agency, which means that you are allowed to choose an agent to represent your interests in the transaction AT NO COST TO YOU. Buyer's Agents are paid by the Seller's Agent, not the buyer!
What are the benefits of working me as your Buyer's Agent? Buyer's Agents will save you time and money, and a lot of frustration throughout the process. As experienced agents:
I have access to the information you need to find all of the available properties and make an informed offer.
I can refer to you the best of the best in terms of lenders, settlement companies and inspectors.
I know the process, and will help you through each step from finding the right property to changing your utilities and moving in!
MYTH: If I find the right property and don't use a Buyer's Agent, I can get the property for less money!? WRONG! Sellers already have agreed to pay (typically a 5-6%) listing commission to their agent who is authorized to split that commission with the Buyer's Agent.
If you go in unrepresented, the Seller will still pay the commission to the Seller's Agent, but you will have no one representing your interests. The agent for the seller is working exclusively for the seller. He/She will do everything in his/her client's best interest not yours. You need a heavy hitter to go to bat for you!
Do I have to sign a Buyer Agency Agreement?? At our first meeting, I'll explain the promises of a Buyer Agency Agreement and you will have the option of signing it then, or in the future. Typically, clients sign the agreement by the second meeting. The agreement allows us to contact other agents on your behalf to arrange showings and inquire about details of a property, etc. It is cancellable in writing if you are not fully satisfied with the service I am providing you.
Step 2: Meet with Me!
This is your opportunity to describe your dream home. I'll discuss lenders, preapproval, and the way writing an offer works. It's a great opportunity for you to ask questions about the process. Plus I can dispel myths, and get right down to the brass tacks of buying a home in the current market.
When should I speak with a lender?? NOW! It is very useful to speak with a lender prior to viewing properties so that you understand exactly how far your dollar will go. You can choose any lender you'd like? If you don't know of any, I have a list of lenders whom past clients have recommended. I also have a report which we can send over to you to help educate you on questions to ask before the call.
Step 3. Let's paint the town!
After we discuss your needs and tastes, we can hit the road! I'll be regularly scouring properties and real estate inventory to make sure you see all the properties that meets your search criteria. You can help, too! I'll send you over listings and you tell me which ones spark your interest and we'll include them on the list. And perhaps I'll even show you some that aren't on the market yet.
Easy, right? Call or email today and lets get you started!