Buyers

 

Intro

Buying real estate can be a fun and exciting experience. A knowledgeable agent can guide you through, step by step, making the process easy and convenient for you. Back to Top

The Process

1. Research – Look online for houses in the area you’re considering. Develop criteria for your ideal house. Get an idea of what asking prices you can expect. Receive email updates on new properties fitting your criteria
tip- don’t clutter your space with print ads, the Internet has all the information you could ever need, and it is much more detailed.

2. Visit a mortgage lender – This will let you know what you qualify to buy and what you can expect to pay per month. Request a list of qualified lenders
tip- when comparing mortgage programs always ask for a Truth In Lending statement, which puts different loans “in the same language” and helps to protect consumers from predatory lenders

3. Contact an agent – Locate the best agent for your needs. Schedule a consultation meeting to precede searching for property. Once the objectives are clear and both parties are ready, hit the streets to view houses. tip- make sure you understand agency. Every agent should explain the “Working with Real Estate Agents” brochure on first substantial contact.
tip- don’t expect to jump right in the car and go look at houses. A skilled agent will take the time to, ask questions, get to know your needs, and go over information with you to eliminate wasted time, frustration, and confusion later.
tip- take notes on the houses you view and try to avoid spending more than a few hours each day touring homes, they will begin to run together

4. Write a contract – Once you find the house you like, you, your agent, and the sellers and their agent will negotiate a deal for acceptable price and terms.
tip- try to keep a win-win mindset in negotiation. This is not you against them, rather two parties seeking to accomplish a common goal.
tip- there are many variables involved in a real estate deal, pay attention to them too, not just the price.
tip- the value of real estate is based primarily on the sales prices of other comparable properties in the area

5. Conduct due diligence – During this time period, you will move forward with the loan, insurance, and have various inspections done to ensure that everything is good with the property.
tip- Always have a home inspection. They not only inform you of the condition of the property, but also serve as a long term maintenance guide.
tip- don’t freak out, sometimes things don't go just as the buyer expects, things  come up, or all parties may not agree on something. Just be calm, communicate with your agent and make informed decisions.

6. Close – Sign papers at the attorney’s office and seal the deal. Once the transaction is on record at the courthouse, the property is yours.
Tip- it may take some time after all the papers have been signed for the transaction to actually be recorded. Don’t be surprised if you can’t take the key from the closing.

Of course there is much more to every step than mentioned. There cost to the buyer for professional representation is $0 out of pocket, but it’s worth at least 100 times more (haha!). Beach Town Brokers Team is accepting new clients and would be happy to consult with you.

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Why Use an Agent

1. It makes economic sense, the same reason Michael Jordan doesn't cut his own grass.(by the way, he's from Wilmington) His time is better spent doing other things.

2. The process is not a simple one, agents keep things on track.

3. An agent can act as “lookout” for properties that fit your needs. A good agent probably knows the area better than an average consumer.

4. Most agents have access to all properties in the area and coordinate and facilitate viewing them.

5. Good agents do this business every day and can offer you insider information and can advise clients in a way that helps them make good decisions

6. Contracts are sometimes confusing. A skilled agent can walk clients through these contracts, explaining items, and minimizing the risk involved.

7. Surprises come up all of the time, skilled agents know how to handle them

8. Negotiation is sometimes the key to getting the best deal. Good agents are skilled negotiators with the job of working for you.

9. There is no out of pocket cost to the buyer.

10. Good agents know who to call, when to call them, and what to tell them to do in order to get the job done for the client. It's a system perfected through repetition.

The bottom line is that an agent can save you time, energy, and money.


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Who'll be your agent

Well, that’s for you to decide.  The agent you select to help you through the process is one of the most important decisions you will make.  It can be the difference in a wonderful, easy, experience, or a nightmare.  Here are a few things to keep in mind when deciding on your agent:

1. Is the agent someone I feel comfortable sharing information with and is it someone I would like to establish a long term relationship with?

2. Does the agent take the time to explain the details of the relationships between agents, buyers, and sellers?  How about the home buying process?

3. Does the agent ask questions about my needs and make sure the stage is set for a successful transaction or does he/she just put me in the car to go look at houses? 

4. Does the agent demonstrate excellent knowledge of the area and the market?

5. Is the agent competent in the use of computers and technology?

6. Do I know people that have worked with this agent in the past, or does the agent have references of past clients?

7. Does the agent have recommendations for any services that I need in addition to the one that he/she provides?

8. Does the agent help me make good decisions or does he/she try to sell me and rush me into signing papers?

9. Does the agent put my needs ahead of his/her interests?

10. Do I like and feel comfortable with the agent?

If you're in the market to purchase real estate, contact Beach Town Brokers Team today for information or a consultation.

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P: (910) 616 2123
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