While a real estate agent can’t cut through the red tape with regards to securing a homeloan, they can most certainly facilitate the home buying process so that it is as smooth and painless as possible. They have the skills, the resources and the experience to help make the process so much easier. This is particularly important for first time home buyers and for those purchasers who are dependent on the sale of their current house in order to afford a move up the property ladder.
1. Choices, Choices, Choices
As an expert in the real estate market, a real estate agent can assist you, the buyer, in finding a property that best suits your ideal location, size and needs at the most favourable terms. A good real estate agent will go to the effort of establishing the price range you can comfortably afford and not take you to view properties you can’t afford.
A real estate agent will usually work in a specific residential area and will therefore be familiar with logistics such as the positioning of a prospective home in relation to schools, shopping facilities, access routes and other amenities like medical facilities, bus routes and so on. And as an objective party, the agent can easily spot the strengths and weaknesses of a property. They will be able to highlight aspects of a prospective home that may still satisfy your expectations and needs even if said property does not quite meet all your given requirements.
2. The Duty’s in the Details
When you use a real estate agent to help you buy a property, the agent is legally and ethically duty bound to serve your best interests. This extends to not misrepresenting a prospective property. Your real estate agent is obliged to make you aware of any and all information in relation to the property including disclosing any defects the property may have. This said, should you have any doubts, it might be worth calling in an expert structural advisor as certifying your prospective home’s construction falls out of the purview of your agent. Full disclosure also covers any potential zoning issues your agent is aware of such as plans to build a three-storey apartment block on a neighbouring property as this could dramatically, and negatively, impact on the future value of your new home.
3. Help with your Homeloan Application
When you have made the ‘big’ decision, a good real estate agent can advise you on making a reasonable and market-related offer on your ‘dream’ home. If you’re in agreement, your agent will complete the obligatory ‘offer to purchase’ form on your behalf. Your estate agent can also assist with the homeloan application process; they all have long standing relationships with Bond Originators like Homeloan Junction.
4. Negotiating the Paperwork
The home buying process is complex and there is a great deal of paperwork involved. Once your offer to purchase has been accepted and your homeloan is secured, your real estate agent will guide you through the remaining purchasing hurdles and help you cross the finish line. Your Estate Agent will be with you until the sale is successfully closed and your new property is officially registered with the Title Deeds office.
5. Communication Counts
When you have a real estate agent helping you with the home buying process, you not only benefit from their expertise and knowledge; you get someone in your corner who will keep you informed through every step of the home buying process and be there for you in the event of problems with any aspect of the process. This goes a long way to alleviate the stress and risk involved in making such a critical financial commitment. Practising clear and open communication prevents misunderstandings and messy disputes down the line and is in the best interest of the agent whose reputation is at stake if he/she is marked as disreputable. After all, the agent doesn’t want what should be an exciting and positive experience for you to be tainted by buyer’s remorse.
Yours In Property