5 things I wish I would have known before buying my 1st home
5 Things I wish I would have known...........
# 1 Get 3 good faith estimates from Lenders
#2 Select a Realtor to help with the search, not just the purchase
#3 Pictures can be deceiving
#4 Real Estate is a local matter, no need for a franchise Realtor
#5 How a Realtor is paid
# 1 Get 3 good faith estimates from Lenders
When Tara and I first moved here from Maine. We were referred to a lender and that's the one we took. Never occurred to us to shop around for rates. Have 3 and you can see the that some make money on the front and some make it on the back.
As your Realtor one of my goals is to have you bring little or no money to closing. I am after the seller to contribute most of your closing costs. If the lenders fees are crazy, "poof" that money will be gone. The lenders on my Lender page are very reasonable
#2 Select a Realtor to help with the search, not just the purchase
This one gets everyone. Most of my clients are very good at navigating the Internet, its probably how they found me. Many times its overlooked that another great resource for searching is the Realtor, themselves. Realtors are constantly in these homes, from showing clients to open houses we know the good ones in each price range. I have a wonderful database with information you will not have access to on the Internet. With so many homes to choose from I can really help you narrow them down. I can also help you get a head-start on the financing, documents needed, school reqs. and more.
#3 Pictures can be deceiving
Wow, was I shocked to see that the beautiful pictures we had looked at a thousand times before we arrived weren't even close to the actual scene. Even now that I am a Realtor I see it in even my most tech savvy clients. The disappointment in their eyes that their dream homes pics were only telling part of the story. They can't always tell you the smells, depth, texture or lack of better terms, that feeling you'll have when you know its right.
#4 Real Estate is a local matter, no need for a franchise Realtor
I got my start in a big Franchise office. There's nothing wrong with them, but there is this myth that they can provide services that a smaller agency can't. I now own my own office and can tell you with great confidence that we offer everything and more that the big boys do. In fact, I have freedoms that they may not. For example, our Military Appreciation Program has been huge. Real Estate is local and personal.
#5 How a Realtor is paid
This one shocked me when I bought my first home. The commissions for the Realtor are built in to the sales price. When the listing agent lists the home its part of the deal. What ever the listing agent negotiates they agree to share a portion with the agent that works with the buyer (called a co-op). At closing, the money for both Realtors are paid out of the sellers proceeds.
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