Your home-buying experience should be an exciting time, yet the process ahead is not without its drawbacks and potential problems. For many home-buyers, failing to do enough research at the beginning of the process can lead to problems down the road, and in real estate those problems can be costly.
Here is a closer look at all of the aspects of buying a home for the first time, including the good, the bad and the ugly.
Step 1: Choosing an Agent
The first step in buying a home is choosing a real estate agent to work with. This can be a good part of the process, or it can be ugly, so do your homework. Choose an agent who will actively work for your best interests. Find an agent who will take the time to get to know you and your goals for your home, and is a person you are comfortable interacting with on a regular basis.
Conflict of interests can be a serious problem for home-buyers. Some buyers choose to work with a buyer’s agent only. A buyer’s agent is one who does not list properties for sale, but only works with home buyers. This prevents a conflict when the agent is tempted to steer the buyer towards listings that they manage, which can earn the agent a higher overall commission. That said, using an agent who only works with buyers is not necessary, as the right real estate agent will keep your best interests in mind at all times, regardless of their own interests.
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